Oddbean new post about login | logout It’s sad that people with plenty of resources and global exposure can arbitrage it like that, whereas people with less access to credit face the brunt of it.
Cheap credit (access) is a kind of debasement bail-out line for a select group of people. But it also isn't free, it's tiresome to always have totake risk just not to get dilluted. Did "everyone" in egypt expect this? Do they try to change their EGP to dollars/euros/btc/gold as fast as possible as a daily routine?
@LynAlden is the power still on in your Egyptian dreck house. I'll be checking back with you daily.
I recommend this against the cockroaches. https://nostrcheck.me/media/134743ca8ad0203b3657c20a6869e64f160ce48ae6388dc1f5ca67f346019ee7/nostrcheck.me_8647989255932915721709801927.webp
Lyn not to say you're doing this as you are protecting family. But it seems like any entity earning cash flow in a superior currency could loot and pillage the hard assets/resources of a country with a dramatically devaluing currency. The only risk being the precariousness of rule of law in that country.
