"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Currency War Shuffles Office Chairs as Norway Tames Krone
Submitted by Emmett Harris on Tue, 2014-04-01 00:00
“Following Switzerland’s move in 2011 to cap an appreciation in the franc, Governor Oeystein Olsen started warning that he may cut rates to weaken the krone. After lowering rates twice, his fight culminated in June last year when he stunned traders by signaling he was preparing to ease again, triggering the biggest decline against the euro in more than four years.” A race to the bottom.
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