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by pavlov
1551 days ago
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It's not like a currency devaluation affects everyone equally, or even uniformly negatively. If you were a British factory worker, it might have saved your job because British exports became more competitive. If you were a middle class office worker, it probably made life more inconvenient because imported goods became more expensive, and that Spanish vacation you had been planning might now be out of reach. If you were a member of the upper class, your wealth was probably already well hedged against GBP risk by using offshore currency accounts, foreign stock investments, etc. |
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