MercoPress. South Atlantic News Agency
Brazil wants WTO to sanction countries that manipulate their currencies
Brazil’s delegate before the World Trade Organization said he was contacting other members of the organization so that sanctions are imposed on those countries which alter artificial money exchange rates that harm emerging countries, according to reports in the financial newspaper Valor Economico. Read full article
Comments
Disclaimer & comment rulesI do not think my country, the USA is going to say “my bad so sorry” and make monetary policy based on the needs of Brazil.
Jul 25th, 2012 - 09:13 pm - Link - Report abuse 0Currency manipulation is the same as import restrictions, simple as that. China, the USA and Korea are just as cheating and anti-competition as Argentina is happily accused of being by everyone here.
Jul 26th, 2012 - 02:00 am - Link - Report abuse 0The US Dollar cannot be manipulated. China manipulates their currency blatantly to gain competitiveness illegally. Other countries try to maintain their currencies floating, but intervening to prop up or to keep down the value of their currency, Japan, Mexico and most countries do that, including Brazil.
Jul 26th, 2012 - 02:01 am - Link - Report abuse 0But the US Dollar floats freely in currency markets around the world, just like the Euro and the Pound Sterling, except that the Dollar goes to huge government treasuries and reserves to banks and companies, to millions of people who still save the good old green bills under their mattress, for fear of suffering dollar confiscations, as it is happening in Argentina today.
The US cannot manipulate its currency, it is the world´s reserve currency, the safe heaven where world investors flock by the millions looking for a safe spot to park their riches while they weather financial storms around the world. The US Dollar is in itself a force many times greater than the US economy and all the Federal Reserve can do is to continue the big party printing more and more.
No comprendo - the current rate of 2 BRL to the dollar must be a result of Brasilian politics, as the USD presently is unusually strong.
Jul 26th, 2012 - 07:21 am - Link - Report abuse 03 months ago / today
1 USD = 0.906 / 0.9912 Swiss Francs
1 USD = 0.98 / 1.02 CND
1 USD = 0.954 / 0.975 AUD
1 USD = 0.48 / 0.491 FIM
1 USD = 1.88 / 2.04 BRL
Strange how he doesn't mention the one country that manipulates its currency market more than any other country in the world: Argentina!
Jul 26th, 2012 - 08:00 am - Link - Report abuse 0“The US Dollar cannot be manipulated.”
Jul 26th, 2012 - 08:07 am - Link - Report abuse 0Shows what kind of Burito idiot you are. What do you call? QE1, 2, operation twist..and let's not forget the LIBOR scandal (fixing interest rates, what is manipulating to keep their worthless derrivatives high in price, done by the BOE and Federal Reserve). If that isn't manipulating, proves my point why I always named you here an Idiot.
#6
Jul 26th, 2012 - 10:05 am - Link - Report abuse 0Manipulating the currency means to maintain it artificially undervalued or overvalued. Operation Twist is a way to avoid inflationary pressures by not having to print so many dollars. You yourself show how idiot you are every time you post. I don´t need to name you an idiot, we take that for granted already.
#3 What a strange Mexican you are, loving the northern menace so much!
Jul 26th, 2012 - 10:09 am - Link - Report abuse 0#6 Exactly
Troll
Jul 26th, 2012 - 10:13 am - Link - Report abuse 0You continue to show your ignorance. RG pesos are traded at a fixed rate and the US dollar is traded on the open market by pure supply and demand like stocks.
#8
Jul 26th, 2012 - 11:35 am - Link - Report abuse 0You and Fido and others here may try to hide your envy for the fact that the US Dollar is and remains the reserve currency of the world.
You can blast US monetary policy, but your own central banks will continue to accumulate large amounts of dollars and will continue as regular clients of the Federal Reserve. Sorry boys, that´s they way things are now.
Argentina doesn't stand a chance as this current bunch of clowns in power can't resist a bit of manipulation.
Jul 26th, 2012 - 04:40 pm - Link - Report abuse 0However it is doubtful that the WTO can act on the sayso of one country. Brazil needs to get politically savvy and pull some countries on side who have some clout. The USA would be a good place to start, however p!ssing them off like this, without any evidence probably isn't wise.
#11
Jul 26th, 2012 - 06:17 pm - Link - Report abuse 0Brazil certainly did not build any support and clout from the mainstream world ecomonies with that stunt with Paragauy to allow Venezula in their ill effective club.
We have a tenuous relationship at best with Brazil and you are correct pissing us off only has us expecting a bigger favor for any help whatsoever.
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