"Follow the money" has a different meaning for currency traders than for most other people. These traders get ahead not by accumulating money per se, but by accumulating the right money. Or to put this another way, by guessing right about which nation’s currency will gain in value against other currencies.
Today, however, with Japan, the European Union and the United States all in economic trouble, the world’s major currencies seem engaged in a contest to underperform. Hence, the verse that follows.
Race To The Bottom
(Dollar, Euro, Yen)
Japan’s domestic savings rate
Has kept the yen from beggar’s gate;
But now deferred reforms won’t wait
And yen goes fourth to meet its fate.
Dollar, euro, yen.
Down they go again.
The U.S. dollar long rode high,
The world queued up Sam’s bucks to buy;
But as recession shrinks our pie,
Past dollar traders say bye-bye.
Dollar, euro, yen.
Down they go again.
West Europe’s leaders weren’t coy
About their euro golden boy;
They said it would bring EU joy,
Though not quite yet—was it a ploy?
Dollar, euro, yen.
Down they go again.
Not even old dads’ fav’rite—gold,
Can in these times its glitter hold.
Investors have too oft’ been rolled,
The metal’s virtues oversold.
Dollar, euro, yen.
Down they go again.
‘Mid market busts and war flag wavin’,
People everywhere are cravin’,
A currency not misbehavin’,
With value firm, a true safe haven.
Dollar, euro, yen.
Down they go again.
And again.
And again.
And...
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