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Competitive devaluation by the US? Unthinkable

annatimone Posted 18 Oct.  in #Miss Dukascopy 2013 #JPY #USD #China #Economy #Eurozone #Eud #Us Debt #Default
What an interesting week. The Armageddon that was really never going to happen, surprise, surprise, didn`t happen. The world has been spared the indignity of a technical default by its MVP – but in its place is a feeling of disappointment and uncertainty about the US that I find uncomfortable and not a little unsettling.
The eventual easing of the dollar this week has reflected a muted and slightly numb reaction to the outcome belatedly coming from Washington, and it is now, regrettably going to…
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Is payment prioritization is technically possible?

annatimone Posted 11 Oct.  in #Miss Dukascopy 2013 #USD #Obama #Ud Debt #Ud Dollar #Us Government #Default
The 14th Amendment of the US Constitution would allow President Obama to unilaterally raise the debt ceiling. However, White House advisor Gene Sperling on Rtrs.
“Invoking 14th amendment would work only if global markets did not see extended legal battle”
I can’t see that happening. They’re still raising the issue of prioritization so it seems like it’s firmly on the table. It sounds like they’re opening the door a bit here. Then again the chance of a legal fight is virtually 100%, so…
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