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.

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

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

No comments yet.

Leave a comment



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

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

Please Rate this Blog HERE

Limited Time Offers

Via Banner Ads Below (navigate to vendor home page if necessary); Updated 7/27/15:
ANY CHARACTER HERE
>BUDK 30% Off Sale ($29 min. order; code required)
ANY CHARACTER HERE
>Paladin Press Buy 2 PDF E-Books Get 1 Free Thru 7/30 (code required)
ANY CHARACTER HERE
>Airsoft Megastore Free Shipping On All Orders (no code required)
ANY CHARACTER HERE
>BulletSafe Bulletproof Baseball Cap $119 Pre-Order Price; Bulletproof Backpack Panel $99
ANY CHARACTER HERE
>CHIEF Supply CornerStone Polos Buy 2 Get 1 Free Thru 7/31 (no code required)
ANY CHARACTER HERE
>Food Insurance 25% Off All Campfire Meal Pouch Bundles; Free Bug-Out Bag With Select Long-Term Meal Plans
ANY CHARACTER HERE
>Nitro-Pak Free Family Water Storage Package With Ultimate-Pak Food Reserve ; Clearance Sale Up To 70% Off
ANY CHARACTER HERE
>Pyramyd Air Christmas In July Sale
ANY CHARACTER HERE
>Tractor Supply Co. Free UPS Ship To Store
ANY CHARACTER HERE
NEW! Advertising Disclosure HERE
ANY CHARACTER HERE
Free UPS ship to store on all Tractor Supply Company orders! Shop now! Tractor Supply Co. Review Coming Soon
ANY CHARACTER HERE
BullionVault BullionVault.com Reviewed HERE
ANY CHARACTER HERE
Nitro-Pak--The Emergency Preparedness Leader Nitro-Pak Reviewed HERE
ANY CHARACTER HERE
MyPatriotSupply.com Reviewed HERE
ANY CHARACTER HERE
Food Insurance Reviewed HERE
CHIEF Supply Reviewed HERE
ANY CHARACTER HERE
BulletSafe Reviewed HERE
ANY CHARACTER HERE
M48 Tactical Tomahawk BUDK Reviewed HERE
ANY CHARACTER HERE
PyramydAir.com Reviewed HERE
ANY CHARACTER HERE
Airsoft Megastore Reviewed HERE
ANY CHARACTER HERE
Survival Titles Save 20% Paladin Press Reviewed HERE
 

Categories

Archives

Prepper Website