Comments on: The looming currency war http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/ Wed, 26 Nov 2014 19:47:54 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: UnderRated http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-455 Sun, 27 Jan 2013 02:04:13 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-455 It seems to me that all of this comes back to the banks being totally out of control. They have fought tooth and nail for the deregulation of the so-called ‘financial industry’, and for what purpose? So they can engage in pseudo-warfare using our livlihood for ammunition in an escalating engagement with no rules or conventions? If the activities of any enterprise constitute a threat to stability and security on a global scale, is it not time for governments to intervene? Unless, of course, instability and insecurity are desirable outcomes… in which case, forward the currency war!

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By: Tschurin http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-447 Fri, 25 Jan 2013 19:41:39 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-447 “America is therefore unable to devalue…” You’ve got to be kidding me, right? Bernanke acknowledged early on that a depreciated currency was one of the benefits of QE. The US, with a stronger economy than the Eurozone or Japan, would also have a much stronger currency were it not for the fact that the Fed was quick off the blocks in the currency devaluation race

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By: randburg100 http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-444 Thu, 24 Jan 2013 19:29:33 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-444 Will Walmart be selling $s on a roll for hanging in the “little boys” room?

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By: rikfre http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-443 Thu, 24 Jan 2013 18:04:08 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-443 plan to start wallpapering your living room with dollars.

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By: acebros http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-442 Thu, 24 Jan 2013 15:06:48 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-442 Btw, is Britain still “a manufacturing country”? I thought that British export earnings have been dominated by invisibles for the past 100 years at least.

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By: acebros http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-441 Thu, 24 Jan 2013 14:42:38 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-441 What I like is that, in spite of the actual and evident and demonstrated failure of QE1 to accomplish its stated goal, or even to move one iota towards its stated goal, the Fed has gone ahead with more.

This shows either group insanity, as, repeating the same action with the same undesired result over and over again, or deception, as, the real goal is not the stated goal, and the action is in fact accomplishing what it sets out to do.

“Something in the water at the Fed” I reject on grounds of general implausibility — though, of course, I could be wrong.

I think that the Fed is terrified, with or without justification, that our bond prices will drift up. A few more Republican budget/debt-ceiling stunts, a revival in Germany (now underway), and rolling over our mammoth debt could start to get more expensive — and then there is the fearsome spiral. I think the Fed is willing to take money, and lots of it, from taxpayers and consumers, and give it to Jamie Dimon, to eliminate even the hint of a beginning of that process.

But I would be interested to hear alternative explanations.

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By: CaptnCrunch http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-440 Thu, 24 Jan 2013 11:55:58 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-440 Well thought and well written. Thank you for shining a little light behind the curtain.

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By: SamuelReich http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-439 Thu, 24 Jan 2013 10:17:53 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-439 Each nation has to sell as much as they import or go into debt. Therefore WTO rules aginst traffs and export subsidies is rediculus. Particlarly expoert subsidies, what ever a nation’s government does to grow export industries can be called an export subsidy.

Rules should be when ever a nation’s difference between exports and imports exceed let day 5%, it has to tax the exceeding half of the economy (exporting activites or non-exporting) and give it to the other half, at a rate the new WTO sets.

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By: Jameson4Lunch http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-435 Wed, 23 Jan 2013 22:53:52 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-435 ptiffany – Yes, our currency is stronger than it’s ever been… relatively. It’s lost nearly 97% of it’s value over the last century, but when everyone is racing to the bottom, we’re the laggards. Kinda the point of the article, I think.

We’ve tripled the money supply over the last few years, and exported most of the inflation. If we lose reserve currency status, that inflation comes home. China is building up a massive gold reserve, which many speculate is to create currency to compete with the petrodollar. A currency with an intrinsic value and high availability could easily displace the dollar’s WRC status.

So, yeah, we should be worried.

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By: ptiffany http://blogs.reuters.com/nicholas-wapshott/2013/01/23/the-looming-currency-war/#comment-434 Wed, 23 Jan 2013 22:04:28 +0000 http://blogs.reuters.com/nicholas-wapshott/?p=187#comment-434 The world’s reserve currency, despite the politically-motivated lowering of the US debt by Standard & Poor’s (not followed by Moody’s and Fitch), is stronger than it has ever been in United States history.

So, should we be worried about the manipulations of a few rogue countries trying to survive such as the depressed United Kingdom and the declining Japanese? Zzzzzzzzz….

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