Monday, July 25, 2005

Yuan a make a bet?

Some people like stamps. Me... I loves me the sexy world of currencies and exchange rates! So when I heard that China had decided to revalue the Yuan, I decided to go down to my local currency exchange (where else!) to meet other like-minded amateur-macroeconomists. I was all like, "Man, is this better than Bretton Woods, or what?!" And they were like, "Either make a purchase or step out of line, sir". I was all, "Hey buddy, wasn't that cool when Nixon took us off the gold standard?" My new friend replied, "Listen, I need $2.50 to get on the Metra train 'cause my car broke down". I gave him the money (he promised he'll send it to me in the mail!), and as he left I called after him, "Watch out for when they start issuing really large denominations, because that's a sure sign a devaluation is going to follow soon after."