I was the president of the central bank in my dream—we were selling rhino dung to buy oil, fighting inflation, counting and counting, but still coming up short in the cash register. A black-bearded old man with a cane kept hitting me on the head, saying, “The exchange rate may seem stable, but if reserves are being depleted, the exchange rate isn’t stable; volatility has moved from the price screen to the central bank’s balance sheet.” No thanks, I’m not reading any financial news anymore—I’ve had enough, honestly.
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