An Economist daily chart last week looked at currency pegs around the world. The Latin America part of the map has an unusual pattern. Look at the countries that peg their currencies to the United States dollar.
Argentina, Bolivia, Cuba, Nicaragua and Venezuela all voluntarily peg their currencies to the US dollar. Ecuador uses the dollar as its official currency.
It's odd that all of these countries that define their foreign policies as "anti-imperialist" and who regularly criticize US policy towards the region voluntarily choose to peg their currencies to that of the empire. There is nothing done by the US to force those countries to do that. They could choose at any time to freely float the currencies or link them to each other or to the Euro or to the Chinese Yuan or to the Brazil Real.
Thursday, February 12, 2015
Publicada por Miguel Madeira em 09:09