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Opinion

Biden’s Greatest Mistake Would Be to Start Currency War

Biden’s Greatest Mistake Would Be to Start Currency War
A file photo of US$100 bills. Yuriko Nakao/Reuters
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Commentary

The biggest mistake that the Biden administration can make is to follow the siren calls of its competing economies to massively devalue the U.S. dollar, print money endlessly, and go full-MMT (Modern Monetary Theory), which is neither modern nor a theory.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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