Showing posts with label currency war. Show all posts
Showing posts with label currency war. Show all posts
Saturday, December 1, 2012
Friday, November 2, 2012
Currency wars: ''China challenging dollar hegemony augurs geopolitical strains''
From Economic Times
"It's our currency and your problem," US Treasury Secretary John Connally famously said of the dollar in 1971.
More than 40 years later, China is doing something about it. Fed up with what it sees as Washington's malign neglect of the dollar, China is busily promoting the cross-border use of its own currency, the yuan, also known as the renminbi, in trade and investment.''
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"It's our currency and your problem," US Treasury Secretary John Connally famously said of the dollar in 1971.
More than 40 years later, China is doing something about it. Fed up with what it sees as Washington's malign neglect of the dollar, China is busily promoting the cross-border use of its own currency, the yuan, also known as the renminbi, in trade and investment.''
read more
''Hong Kong gets involved in currency wars''
From Pravda
''Special Administrative Region of China, Hong Kong, is now involved in the currency wars that take place around the world. Last week, the Hong Kong Monetary Authority (HKMA) conducted currency interventions, having sold its own currency in the amount of 603 million U.S. dollars in just one hour to stabilize the exchange rate of the Hong Kong currency against the U.S. dollar.''
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''Special Administrative Region of China, Hong Kong, is now involved in the currency wars that take place around the world. Last week, the Hong Kong Monetary Authority (HKMA) conducted currency interventions, having sold its own currency in the amount of 603 million U.S. dollars in just one hour to stabilize the exchange rate of the Hong Kong currency against the U.S. dollar.''
read more
Monday, October 29, 2012
''Currency Warfare: What are the Real Targets of the E.U. Oil Embargo against Iran?''
From Global Research
By Mahdi Darius Nazemroaya
''The end of Iranian oil exports to the European Union and the decline of the euro will directly benefit the United States and the U.S. dollar. What the European Union is doing is merely weakening itself and giving the U.S. dollar the upper hand in its currency rivalry against the euro. Moreover, should the euro collapse, the American dollar will quickly fill much of the void. Despite the fact that Russia will benefit from higher oil prices and greater leverage over E.U. energy security as a supplier, the Kremlin has also warned the European Union that it is working against its own interests and subordinating itself to Washington.''
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By Mahdi Darius Nazemroaya
''The end of Iranian oil exports to the European Union and the decline of the euro will directly benefit the United States and the U.S. dollar. What the European Union is doing is merely weakening itself and giving the U.S. dollar the upper hand in its currency rivalry against the euro. Moreover, should the euro collapse, the American dollar will quickly fill much of the void. Despite the fact that Russia will benefit from higher oil prices and greater leverage over E.U. energy security as a supplier, the Kremlin has also warned the European Union that it is working against its own interests and subordinating itself to Washington.''
read more
Thursday, October 25, 2012
''Currency Wars Part II''
From Market Oracle
By Jesse
''Gold and silver are intimately involved in the unfolding currency war, because they take no sides, and have no counterparty risk. No one can print them. And this is why I think GATA is right, not because of the evidence they have, which is more substantial than one might suspect given obsessive secrecy and the disinformation campaigns, but because it is exactly what one would do if there was to be a currency war, and such things as gold and silver existed. It is basic strategy of war: seek to control the high ground. And along with oil, gold and silver are strategic high ground in a currency war. And the first victim in a war is the truth.''
read more
By Jesse
''Gold and silver are intimately involved in the unfolding currency war, because they take no sides, and have no counterparty risk. No one can print them. And this is why I think GATA is right, not because of the evidence they have, which is more substantial than one might suspect given obsessive secrecy and the disinformation campaigns, but because it is exactly what one would do if there was to be a currency war, and such things as gold and silver existed. It is basic strategy of war: seek to control the high ground. And along with oil, gold and silver are strategic high ground in a currency war. And the first victim in a war is the truth.''
read more
Tuesday, October 23, 2012
Thursday, October 18, 2012
Max Keiser with Jim Rickards (Episode 355)
From
RT.com
...................''In this episode, Max Keiser and Stacy Herbert discuss the Bobo and Gono global central banking clown show featuring Ben Bernanke and Gideon Gono and their crowd pleasing echo bubble gags and hyperinflationary squirting money printing flowers. In the second half of the show, Max Keiser talks to Jim Rickards, author of Currency Wars, about Ben Bernanke’s speech in Japan where America’s chief currency warrior warned emerging economies to appreciate their currencies or suffer inflation. Rickards also notes it could be the first time the head of the Federal Reserve has ever talked about the US dollar, normally the domain of the US Treasury.''
RT.com
...................''In this episode, Max Keiser and Stacy Herbert discuss the Bobo and Gono global central banking clown show featuring Ben Bernanke and Gideon Gono and their crowd pleasing echo bubble gags and hyperinflationary squirting money printing flowers. In the second half of the show, Max Keiser talks to Jim Rickards, author of Currency Wars, about Ben Bernanke’s speech in Japan where America’s chief currency warrior warned emerging economies to appreciate their currencies or suffer inflation. Rickards also notes it could be the first time the head of the Federal Reserve has ever talked about the US dollar, normally the domain of the US Treasury.''
''Currency Wars: U.S. Attack''
From Financial Sense
By Axel Merk
''Doubling down on QE3, the Federal Reserve (Fed) Chairman Bernanke tells China and Brazil: allow your currencies to appreciate. One does not need to be a rocket scientist to conclude that Bernanke wants the U.S. dollar to fall. Is it merely a war of words, or an actual war? Who is winning the war?''
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By Axel Merk
''Doubling down on QE3, the Federal Reserve (Fed) Chairman Bernanke tells China and Brazil: allow your currencies to appreciate. One does not need to be a rocket scientist to conclude that Bernanke wants the U.S. dollar to fall. Is it merely a war of words, or an actual war? Who is winning the war?''
read more
Sunday, September 23, 2012
''Brazil may fire up tax artillery in ''currency war''
From Chicago Tribune
''Brazil threatened on Friday a further clampdown on speculative foreign capital, firing a warning shot in a "currency war" its finance minister blamed on money-printing by Western central banks.
Finance Minister Guido Mantega said Brazil would not allow its currency, the real, to strengthen as a result of aggressive monetary stimulus by the United States and other developed nations.''
Thursday, September 20, 2012
Keiser Report interviews Jim Rickards
From RT.com
''In this episode, Max Keiser and Stacy Herbert discuss flash crashes, reputation woes on the US exchanges and sheep screaming at all the fraud. Max also talks to one of the Queen’s sheep for its opinion on quantitative easing. In the second half of the show, Max Keiser talks to Jim Rickards, author of Currency Wars, about QE to infinity, the dollar, the euro and a gold standard.''
Tuesday, September 18, 2012
''The First Bond Wars of the 21st Century''
From Townhall
''Ben Bernanke has thrown down the gauntlet and will, once again, attempt to de-value the U.S. currency on the premise that U.S. products will become cheaper worldwide versus their competition.
More U.S. sales will be achieved at the expense of the other export areas, such as Europe, South America, and Asia.''
Friday, July 27, 2012
Australia: ''No escape from currency wars''
From AFR
''There is a war raging across global financial markets, which Australia has – so far at least – tried to avoid participating in. But the sounds of battle are growing and we may soon have no choice but to deploy our own weaponry. If so, it would be good news for our hard-pressed trade-exposed sectors such as mining and tourism, and potentially even homeowners and small businesses nursing large debts.
The battle is, of course, the global currency wars.
Desperate to breathe life into their moribund economies, central banks in Europe, Japan and the United States have cut interest rates to the bone and cranked up their monetary printing presses, which indirectly has helped weaken their currencies. Even China has recently started to allow its currency to fall against the US dollar, and it has also fallen against the Australian dollar.''
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''There is a war raging across global financial markets, which Australia has – so far at least – tried to avoid participating in. But the sounds of battle are growing and we may soon have no choice but to deploy our own weaponry. If so, it would be good news for our hard-pressed trade-exposed sectors such as mining and tourism, and potentially even homeowners and small businesses nursing large debts.
The battle is, of course, the global currency wars.
Desperate to breathe life into their moribund economies, central banks in Europe, Japan and the United States have cut interest rates to the bone and cranked up their monetary printing presses, which indirectly has helped weaken their currencies. Even China has recently started to allow its currency to fall against the US dollar, and it has also fallen against the Australian dollar.''
read more
Tuesday, July 24, 2012
''The End of Growth Through Currency Wars''
From Money Morning Australia
''Today, there is no one currency against which all others can strengthen to everyone’s mutual benefit. Competitive devaluations have become a zero sum game, always costing one country jobs and exports. This is why Brazilian Finance Minister Guido Mantega said in 2010 that the world was in a new currency war. He knew that interest rates were being used by central banks as a weapon to deal with domestic debt problems and boost export competitiveness.
Effectively, everyone in the world is trying to boost their own economic growth by weakening their currency so they can sell their goods to other countries. This has led Europe, Japan, and the US all to the same place: zero real interest rates.''
read more
''Today, there is no one currency against which all others can strengthen to everyone’s mutual benefit. Competitive devaluations have become a zero sum game, always costing one country jobs and exports. This is why Brazilian Finance Minister Guido Mantega said in 2010 that the world was in a new currency war. He knew that interest rates were being used by central banks as a weapon to deal with domestic debt problems and boost export competitiveness.
Effectively, everyone in the world is trying to boost their own economic growth by weakening their currency so they can sell their goods to other countries. This has led Europe, Japan, and the US all to the same place: zero real interest rates.''
read more
Friday, July 13, 2012
Tuesday, July 10, 2012
''Negative rates and the currency wars''
From IFR
''It’s not that negative interest rates – under which investors pay for the privilege of lending money – are not driven partly by terrible growth prospects and a rising threat of deflation.
They are, but they are also the manifestation of monetary policy that says, in essence, to global investors: “don’t let the door hit you on the way out.”
That’s because a central bank which is desperately looking for growth – and that means just about all of them – would like nothing more than to see its currency depreciate.''
read more
''It’s not that negative interest rates – under which investors pay for the privilege of lending money – are not driven partly by terrible growth prospects and a rising threat of deflation.
They are, but they are also the manifestation of monetary policy that says, in essence, to global investors: “don’t let the door hit you on the way out.”
That’s because a central bank which is desperately looking for growth – and that means just about all of them – would like nothing more than to see its currency depreciate.''
read more
Sunday, June 3, 2012
''Currency crisis is coming''
From Market Watch
''If the euro zone wants to save itself, it has to be bold and act fast. If the ECB offers a total guarantee to backstop all the banks in the single-currency bloc, then would it matter to the Euro Zone 16 that remained if Greece were to leave? The answer is no, because there would be no reason to create a run on the other nation's banks as they would be totally supported by the ECB.''
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''If the euro zone wants to save itself, it has to be bold and act fast. If the ECB offers a total guarantee to backstop all the banks in the single-currency bloc, then would it matter to the Euro Zone 16 that remained if Greece were to leave? The answer is no, because there would be no reason to create a run on the other nation's banks as they would be totally supported by the ECB.''
read more
Friday, May 11, 2012
''Brics' sabres rattle as global currency war heats up''
From Mail & Guardian
''As political rhetoric heats up, fears are mounting that a global currency war may escalate—concerns explicitly expressed by the Brics countries—Brazil, Russia, India, China and South Africa—in a recent communiqué.
“Excessive liquidity from aggressive policy actions taken by central banks to stabilise their domestic economies have been spilling over into emerging economies,” they wrote following a summit in India, “fostering excessive volatility in capital flows and commodity prices.''
read more
''As political rhetoric heats up, fears are mounting that a global currency war may escalate—concerns explicitly expressed by the Brics countries—Brazil, Russia, India, China and South Africa—in a recent communiqué.
“Excessive liquidity from aggressive policy actions taken by central banks to stabilise their domestic economies have been spilling over into emerging economies,” they wrote following a summit in India, “fostering excessive volatility in capital flows and commodity prices.''
read more
Tuesday, April 24, 2012
Caesar Bryan - ''Asia To Deploy Stunning & Massive QE''
From King World News
"With continued volatility in gold and silver, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar told KWN that we are about to see massive QE from Asia. He also said investors should expect the rest of the central banks around the world to follow suit because none of them wants a strong currency. Here is what Caesar had to say about the situation: “Well, the actual gold price is holding up quite well. The backdrop for gold is solid. As an example, in Japan they have a meeting on Friday, the Bank of Japan does, and it seems they are setting themselves up for a stunning, major, new accommodative move."
read more
"With continued volatility in gold and silver, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar told KWN that we are about to see massive QE from Asia. He also said investors should expect the rest of the central banks around the world to follow suit because none of them wants a strong currency. Here is what Caesar had to say about the situation: “Well, the actual gold price is holding up quite well. The backdrop for gold is solid. As an example, in Japan they have a meeting on Friday, the Bank of Japan does, and it seems they are setting themselves up for a stunning, major, new accommodative move."
read more
Thursday, April 19, 2012
''Currency Wars: Gambling With Other Peoples’ Money''
From GoldSeek
By Axel G Merk
"If running out of your own money wasn’t bad enough, policy makers are increasingly spending other peoples’ money to bail their country out. At the upcoming G-20 meeting, finance ministers from around the world will contemplate an increase to the resources of the International Monetary Fund (IMF). At stake for politicians is whether they can continue to do what they know best – to play politics. In contrast, at stake for investors may be whether currencies will retain their function as a store of value.'
read more
By Axel G Merk
"If running out of your own money wasn’t bad enough, policy makers are increasingly spending other peoples’ money to bail their country out. At the upcoming G-20 meeting, finance ministers from around the world will contemplate an increase to the resources of the International Monetary Fund (IMF). At stake for politicians is whether they can continue to do what they know best – to play politics. In contrast, at stake for investors may be whether currencies will retain their function as a store of value.'
read more
Wednesday, April 18, 2012
''The Coming Currency Wars''
i thought they already started???.......From Smart Money
"Like Pavlov's dog, which would salivate at the sound of a bell, U.S. stock market investors will these days launch into a buying frenzy at the faintest hint of more monetary stimulus.
But if Federal Reserve officials' assurances of continued support for the U.S. recovery have released feel-good endorphins among wishful thinkers on Wall Street, their subtle admissions that a third round of "quantitative easing," or QE3, isn't off the table may equally have sent emerging market central bankers into a cold sweat."
read more
"Like Pavlov's dog, which would salivate at the sound of a bell, U.S. stock market investors will these days launch into a buying frenzy at the faintest hint of more monetary stimulus.
But if Federal Reserve officials' assurances of continued support for the U.S. recovery have released feel-good endorphins among wishful thinkers on Wall Street, their subtle admissions that a third round of "quantitative easing," or QE3, isn't off the table may equally have sent emerging market central bankers into a cold sweat."
read more
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