As Russia is re-learning this morning, Central Banks tinker at the
edges of sentiment. Sometimes they are successful in swaying it one way
and another–at least for a while. But in the end, their ‘bold’
interventions fail miserably, lurching from one crisis to the next,
evaporating buckets of taxpayer dollars in the process. See:
Russian rate hike fails to stop the Ruble’s crash.
Here is
a direct video link to a BBC documentary on the Sterling crash of September 1992 when the British government lost ‘control’.
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