flow5

Bernanke: Fed Must Avoid Greenspan Errors

The largest percentage of currency crisis which purportedly (by Poole) weren't foreseen - were exclusively the Federal Reserve Board's fault.

If the world's largest economy ($13b+) has a contraction in its economy, imports will fall, & export driven countries will suffer, exacerbating the negative flow of funds, and any currency crisis.

Mexico crisis 2/17/1982 (not identified) - Peso was pegged
Listed below, currency crisis that were predictable & preventable (MVt):

(1) Black Monday Oct 19 1987 (same day)
(2) Mexico Peso crisis Dec 1994 (2 months early) Peso was pegged
(3) U.S. dollar fall in Mar. 1995 (same month)
(4) Asian financial crisis July 1997 (one month late) - without primary time series
(5) Russian financial crisis 1998 (same month) - without primary time series