Finance. Das Internationale Wahrungssystem. The question of currency valuation

 The currency markets' traded value of money determines the international purchasing power of a national currency. That may be a false measure, comparatively, when the national currency is tendered as an equivalent internally. I am referring to the Irish, British and German property market.

Currency valuations which enrich and impoverish countries are being determined not just by currency trading but by large transcontinental states. We think in particular of states such as Russia. The cartel of gas suppliers it operates has,more or less,a monopoly of some energy resources. Behemoths such as the US and economic conglomerates such as the European Union operate commodity and industrial cartels, respectively.

Politics? Economics? Trade? 

Shady dealings and dodgy dealers...

Internationally-traded currency values and comparative interest levels cannot exist in isolation from total industrial and commercial trade patterns, market trends and administrative fiat or political will(s).

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High interest rates as laid down by the Monetary Policy Committee of the Bank of England boost the strength of the pound vis-a-vis other currencies such as the dollar and the euro. A higher valuation is sometimes required to prevent the dumping of the pound reserves of other countries because Britain often sells its wares at below-cost price. This is called stabilising the money markets.

In the US the interest rates re much lower to encourage profligate borrowing by the borrowers.

The US ignores all pressure from fiscal conservatives and financial hawks to raise interest rates and thereby, put a halter on real inflation fuelled by a lax monetary policy 

The US is a law unto itself because the US Government can intimidated any country or impose universal trade sanctions. It operates unilaterally. American financial profligacy is made possible by its imperialist strength,that being the ability to subdued criticism at home and opposition abroad.