“Devaluing a currency,” one senior Federal Reserve official once told me, “is like peeing in bed. It feels good at first, but pretty soon it becomes a real mess.” In recent times, foreign-exchange incontinence appears to have been the policy of choice in capitals from Beijing to Washington, via Tokyo. The resulting mess has led to warnings of a global “currency war” that could spiral into protectionism. [WSJ via DI]

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Comments (10)

  1. Posted by R Kelly | February 4, 2013 at 4:03 PM

    Tell me about it..

  2. Posted by el guesto | February 4, 2013 at 4:12 PM

    haters wanna hate
    lovers wanna love
    i don't even want
    none of the above
    i want to pee on you

  3. Posted by Guest | February 4, 2013 at 4:13 PM

    [youtube NhgC2o6IEeo http://www.youtube.com/watch?v=NhgC2o6IEeo youtube]

  4. Posted by guest | February 4, 2013 at 4:17 PM

    I will sleep much better tonight (without pissing the sheets) knowing someone who is the steward of our currency and banking system and overall economic well being can come up with such a intellectually deep and spot on analogy!

  5. Posted by Im_a_Dude | February 4, 2013 at 4:18 PM

    like in trainspotting?

  6. Posted by guest | February 4, 2013 at 4:26 PM

    Lacker!!!!

  7. Posted by Shazared | February 4, 2013 at 4:42 PM

    "Go on…" -J. Gundlach

  8. Posted by Lowly Assistant | February 4, 2013 at 5:19 PM

    NOT ON THE BACKYARD DECK, ON THE BED!

    -Guy That Reads Everything He Sees On The Internet Using An Irish Voice And Also Makes Bad Jokes All Of The Time

  9. Posted by guest | February 4, 2013 at 5:32 PM

    Not sure this is his thing…

  10. Posted by InfiniteGuest | February 4, 2013 at 7:01 PM

    Here I was hoping it would be more like pissing yourself in a dark suit.