Eleanor Oakman, Chapter 11. Question 6

What I found most interesting or wanted to learn more about was the failings of certain currencies around the world. Though I still don't really know what "pegged" exchange rates are when Wheelan tries to explain them to the readers, I am starting to grasp the significance of the different currencies. For example, today in Greece. For Greece, they are on the brink of changing their currency mainly because they are having such a hard time trading and connecting with other countries, and also they are in a severe depression. Reading about when currencies fail on page 256 I thought about the speculators (who they specifically are I still don't understand) and how they are able to make millions off of the countries economic failure. Because of their dept and weak economic structure does that mean when a country leads to failure the currency goes first since it's the physical object that is being traded with other countries? I hope you (Hoffner) can bring this up in class on Tuesday so the class can discuss what "pegged" exchange rates are, and how exactly these speculators are making money when the currencies change.