To quell the incessant concerns of the naysayers from financially challenged baseball markets, floating realignment might give ball clubs such as the Royals, Pirates, Nationals, Orioles and Blue Jays an opportunity to either finally qualify for the postseason in the 21st century or to enjoy an influx of revenues due to new matchups and rivalries.

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In developing countries with immature financial markets, a freely floating exchange rate may not be sensible because a small number of foreign-exchange trades can cause big swings in currencies.

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As a consequence, their proposed solutions do not address the underlying instability of the current system of floating paper currencies that bob about on foreign exchange markets whipped this way and that by forces that have little, if any correlation to the so-called underlying fundamentals.

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Financial markets are extremely efficient at capturing every scrap of information and opinion floating around in the marketplace, and incorporating it directly into the going price of bonds, shares and just about anything else that can be easily traded.

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Significantly, the vast expansion in markets for options, futures and derivatives occurred mostly after 1971, with the onset of floating exchange rates, wildly-gyrating interest rates, and swings in commodity prices.

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