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Subject Currency Wars: Ben Bernanke Tells Third World to Devalue Their Currencies

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Original Message U.S. Federal Reserve Chairman Ben Bernanke said a little currency appreciation in the developing world is not a bad thing.

Speaking at the International Monetary Fund meeting in Tokyo this weekend, Bernanke urged Third World nations to allow their currency to appreciate as a means of actually preventing inflation.

"The perceived benefits of currency management inevitably come with costs, including reduced monetary independence and the consequent susceptibility to imported inflation," Bernanke said.

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