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There’s no telling if the two events are connected, but their timing is mighty interesting.
The Polish government and the National Bank of Poland, in a “rare moment of unity,” agree to weaken Poland’s currency, the zloty, in an act that would benefit Poland’s exporters at the expense of Poland’s trading partners—that is, the European Union, among others. Then, the next day, Poland’s president and the president of its national bank die in a plane crash.
Originally posted by timewalker
in an act that would benefit Poland’s exporters at the expense of Poland’s trading partners—that is, the European Union, among others.
Originally posted by stumason
reply to post by Dermo
Now, the question remains which would prove or disprove this "theory" (I use the term lightly).
Has the Polish currency been devalued anyway, or is it about too? If it has, this theory is bunk. If there is a sudden, unnexpected change of Policy, then it might be worth a look.
April 9 (Bloomberg) -- Poland’s central bank bought foreign currency to weaken the zloty for the first time since 1998 and said it may do so again, putting investors on notice it will seek to prevent exchange rate gains harming economic growth.
The central bank “can’t exclude intervening again,” Deputy Governor Witold Kozinski said by phone. The government may also buy foreign currency, Deputy Finance Minister Dominik Radziwill told PAP newswire.
Even after such talk, the move came as “quite a surprise” to investors, said Marcin Mazurek, an economist at BRE Bank SA in Warsaw. “I don’t know to what extent this is just the central bank demonstrating that it can act, answering many people who said it wouldn’t intervene, and to what degree it results from a fundamental belief that intervention is needed.”
“It shouldn’t be ruled out that today’s actions by the Narodowy Bank Polski are a game changer,” said Blum, who recommended selling zloty and Czech koruna and buying Turkish lira.
If there is a conspiracy.. wouldn't the Russians be involved? Seeing as they invited half of the Polish government to their country where they all died?
Originally posted by timewalker
Unless they are being used as a scapegoat?
Originally posted by grantbeed
I thought Poland was an extrmemely poor country that most of their people want out of?
How can they possibly affect the other EU nations so much?
Originally posted by time91
In April of 2010, the president of Poland and his top aides died in a plane crash. Days earlier, he planned to devalue his country's currency which would weaken the rest of the eurozone and improve his country's economy.