Last updateFri, 31 Jul 2020 1pm

The pathos of the peso

Here’s an updated report on the Mexican peso’s continuing spiral. The report has not been reviewed by anyone who knows anything about the Mexican economy, although a friend who once owned a butcher shop in New Jersey read it, and he said he agreed with a lot of it.

Remember that currencies go up and down based on ... God only knows. (He himself has to check with Bloomberg.)But some, like the U.S. dollar or the yuan renminbi, the official currency of China, remain dependably stable or, more accurately, predictably backed for strength by its government. History tells us China actually invented banknotes. (In the year 812, they applied another of their own inventions, paper, into what they decided to call “cash.” Interesting, isn’t it, that hundreds of years later, we decided to call it that, too?)

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