4 comments on “Timmy elsewhere

  1. Right, but we can stop imposing interest rates by abolishing the interest-rate setting capacity of the central bank. It then doesn’t matter if your more or less optimal currency area has one currency or a thousand, the market determines interest on each loan/deposit individually.

    Even when you have multiple currencies, those that don’t believe they are getting an appropriate interest rate go elsewhere anyway. Like all the Hungarians who took out mortgages in Swiss Francs. That also turned out badly.

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