The P3 insists that governments can beat the markets. They can control their own money supply, interest rates and the FX rate all at the same time. This might not be so:
The Turkish lira plunged as much as 15pc after President Recep Erdogan declared he would win an “economic war of independence” and praised low interest rates.
The central bank cut rates last week from 16pc to 15pc despite inflation soaring to almost 20pc last month, which mainstream economists would usually try to control with higher interest rates.
It tends to be a bit more like engineering, faster, better, cheaper, where you have to pick two of the three, you can;t have it all.
Which is going to make that launch of the Bawbee a little fraught, no?