Russian Ruble to Be Revalued

PanAsianBiz ^ | June 14, 2006 | Dr. Bill Belew

[G. Stolyarov II]

It seems like no one wants to leave the Chinese alone when it comes to revaluing the yuan.

Here is some news that I am sure the Chinese would like to see spread all over the pages.

The Russians say their economy is not ready to introduce the idea of a 'floating ruble' yet because it involves:

1. Economic risks

2. Reevaluation (sounds like revaluation) of the state's participation in the economy.

Russia's Federal Financial Markets Service Head, Oleg Vyugin, said, "we're not ready."

"People think the ruble rate is undervalued," he said. That statement could be put in any economic commentary about the Chinese yuan as well.

"No one knows the 'fair' market rate as only the market can determine that when the Central Bank did not interfere with trade," he said.

Yep, sounds like we are talking about China again.

Question: When should the market be allowed to determine what is fair?

When should a government, Russia, China, or otherwise, stop interfering?

What do you think?

[G. Stolyarov II]

It seems the Russian government does not yet wish for the market to determine the ruble's exchange rates. In both Russia and China, unfortunate governmental edicts are imposed to overrule the wishes of individuals. If money is indeed the property of individuals-- not of the state-- then individuals should be allowed to non-coercively exchange their money for whatever other goods (including other nations' money) that they see fit. See Dr. Belew's blog at PanAsianBiz

[RusIvan]

I don't understand if it allowed to ad yourself blog on FR?