Has A Currency War Begun?

A currency war.

Like what happened in the 1930s.

There’s growing talk about it these days. From Matt Clinch on the CNBC website this morning:

As countries try to weaken their currencies to boost exports, the risk of a currency war similar to events seen in the 1930s has heightened and policymakers are making sure they are on the winning side, according to Morgan Stanley.

The balance of power now rests with Japan, according to the bank, as Japan’s policy-makers’ more dovish approach looks set to bring the world a step closer to a currency war…

“If a weaker yen is an important pillar of the strategy to make this export-oriented economy more competitive again, it brings into the picture something that was missing from earlier interactions among central banks of the advanced economies- competitive depreciation,” it said in a research note.

“This, in turn, takes us one step closer to a currency war.”

(Editor’s note: Italics added for emphasis)

Yesterday I mentioned trends forecaster Gerald Celente. The founder and director of The Trends Research Institute appeared on the FOX Business Network’s The Tom Sullivan Show on January 26 and talked a good deal about currency wars, and thinks one is already underway. Celente told viewers:

Pick up the Financial Times, pick up the Wall Street Journal, pick up anything. Read the headlines. Currency Wars, Currency Wars, Currency Wars, Currency Wars. That’s what I’m concerned about. We’re seeing a replay in time. The Crash of 1929, a Great Depression, Currency Wars, Trade Wars, World War. The Panic of ’08. The Great Depression is a depression going on in a lot of places around the world. There’s Currency Wars.

Listen to Weber, the head of the UBS, former president of Deutsche Bank. His words at Davos- there’s a currency war. Listen to Mervyn King, the outgoing head of the Bank of England- there’s a currency war. Listen to Mantega, Brazil- there’s a currency war.

Celente went on to predict trade wars are on the horizon.


“Gerald Celente – Tom Sullivan on Fox Business News – January 26, 2013”
YouTube Video

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Clinch, Matt. “Currency Wars Return, 1930s Style: Who Will Lose Out?” CNBC. 7 Feb. 2013. (http://www.cnbc.com/id/100441340). 7 Feb. 2013.

Share

Tags: , , , , , , , , , , , , , ,

Thursday, February 7th, 2013 Asia, Banking, Currencies, Depression, Monetary Policy, Money Supply, War

No comments yet.

Leave a comment

Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

This Project Dedicated to St. Jude
Patron Saint of Desperate Situations



Please Rate this Blog HERE



happyToSurvive
Advertising Disclosure here. "Code Needed"=Promo Code Found On Advertiser Website. Ad Captions Last Updated 12/3/16.
ANY CHARACTER HERE
BullionVault World's Largest Online Investment Gold Service Taking Care Of $2 Billion For More Than 60,000 Users. BullionVault.com Reviewed HERE.
ANY CHARACTER HERE
Buy Gold And Silver Coins 1 Oz. Silver Rounds (Secondary Market), 10 Oz. Silver Bars (Secondary Market), 100 Oz. Silver Bars (Secondary Market), Australian, Canadian, Chinese, French, Mexican Gold Coins On Sale! Free Shipping On U.S. Orders $99 And Up. BGASC Reviewed HERE.
ANY CHARACTER HERE
3-Month Food Supply $397 Limited Time Only; Survival Starter Kit X-Mas Tote $74.95 + Free Shipping; Alexapure Pro Water Filtration System $147; Patriot Seeds Gift Set $69.95; Big Savings On "Deal Of The Day" Page; Free Shipping On Orders Over $79. MyPatriotSupply.com Reviewed HERE.
ANY CHARACTER HERE
bullet proof vestsWorld's First Bulletproof Baseball Cap Only $129; Bulletproof Ceramic Plate (NIJ Level III Stand-Alone) Only $169; Bulletproof Backpack/Messenger Bag Panel Only $99. BulletSafe Reviewed HERE.
ANY CHARACTER HERE
Blade HQ Knives Holiday Sale!; Free Patch Orders Over $49 (Code Needed); Free Shipping All Domestic Orders Over $99. Blade HQ Reviewed HERE.
ANY CHARACTER HERE
Survival Titles Save 20% Discontinued Title Sale- Savings Up To 75% Off Original Price. Paladin Press Reviewed HERE.
 

Categories

Archives

Prepper Website

RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Related Reading: Malca-Amit’s New UltraVault Safe Deposit Box Service Profiled By South China Morning Post
    Malca-Amit, “widely recognized as the world’s leader in diamonds, jewellery and precious metals logistics and storage,” recently launched its UltraVault safe deposit box service in Asia. According to the UltraVault website: Our innovative portable safe deposit box enables you to: -View, withdraw or store your assets any time of the day or night -Select the […]
  • Related Reading: The Economic Times Article On India’s Safe Deposit Boxes
    I’ve had India on my mind recently. In particular, I’ve been thinking about the country’s safe deposit box industry in light of the ongoing “currency experiment.” Vikram Doctor over at The Economic Times (India) has also been speculating as to what the blitzkrieg on cash means for safe deposit boxes, publishing a piece entitled “Crackdown […]
  • Related Reading: SurvivalBlog.com Post About U.S. Bank Safe Deposit Boxes
    Back on February 2 I blogged about James Wesley, Rawles (comma not a typo), an author, lecturer, and founder/Senior Editor of SurvivalBlog.com, a preparedness blog that receives more than 320,000 unique visits per week. The former U.S. Army intelligence officer had just advised SurvivalBlog readers to “get a safe deposit box offshore, and store some […]
  • Happy Thanksgiving
    Just wanted to wish the American readers of Offshore Safe Deposit Boxes a Happy Thanksgiving. Thank you for your continued readership and support (that applies to everyone!). Christopher E. Hill Editor
  • U.S. Bullion Dealer Miles Franklin Launches Private Safe Deposit Box Program In Canada
    While pulling material together for the blog this morning, I learned about a new “offshore” safe deposit box program that’s just been launched by a well-known American precious metals dealer. Andrew Hoffman, Marketing Director for Miles Franklin (“one of America’s oldest, most trusted bullion dealers”) wrote on SilverSeek.com on November 2: We’ve spent more than […]