Tag Archives: Currency Wars

Financial Times Sees “Endless Cycle Of Bubble, Financial Crisis And Currency Collapse”

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“It’s funny: nearly five years ago, when we first started, and said that the world is doomed to an endless cycle of bubble, financial crisis and currency collapse as long as the Fed is around, most people laughed: after all they had very serious reputations aligned with a broken and terminally disintegrating economic lie. With time some came to agree with our viewpoint, but most of the very serious people continued to laugh. Fast forward to last night when we read, in that very bastion of very serious opinions, the Financial Times, the following sentence: ‘The world is doomed to an endless cycle of bubble, financial crisis and currency collapse.'”

http://www.zerohedge.com/news/2013-08-28/financial-times-world-doomed-endless-cycle-bubble-financial-crisis-and-currency-coll

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Jim Rogers: Prepare for market panic

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“Potential conflict in Syria and the scaling back of Fed stimulus point to a full-scale market ‘mess,’ says investor Jim Rogers, with the countries running trade deficits likely to be hardest hit.”

http://www.reuters.com/video/2013/08/28/prepare-for-market-panic-jim-rogers?videoId=260178527

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Indians Who Bought Gold, Won. Those Who Didn’t, Lost.

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“The idiot Keynesians who ran the Bank of India destroyed the rupee. In India, fathers buy gold for their daughters’ dowries. They don’t buy rupees. India put a tax on gold imports in a vain attempt to save the rupee. It didn’t work. The government hates it when Indians buy gold. This shows a lack of faith in the government. That lack of faith is well deserved. The government said that Indians who bought gold were making a big mistake. But it turns out that Indians who trusted the government’s rupee made the big mistake. If you think it can’t happen here, you could wind up like all those Indians who have lost a quarter of their wealth in recent months. They believed their government. Silly them.”

http://teapartyeconomist.com/2013/08/29/indians-bought-gold-won-didnt-lost/

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Gold’s Protective Power In Action: India’s Ongoing Currency Destruction

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“Although the Indian currency has been falling against the dollar for four decades now, it certainly is in an accelerating downtrend lately. The following paragraphs, quotes and charts paint a picture of a country desperately trying to save its economy and currency. The victims of this situation are of course the citizens. In their attempt to run to gold, they are stopped by their own government. How ironic is this situation when looking as an outsider. Did you ask yourself: am I prepared if this situation hits my country? In this global currency war, that just started two years ago and is expected to last till at least 2020, every country will be hit sooner or later. Are you prepared?”

http://goldsilverworlds.com/money-currency/golds-protective-power-in-action-indias-ongoing-currency-destruction/

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Jeffrey Tucker: Canada: Land of the Freer?

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“With QuickBt, consumers are buying bitcoins and then transferring them to merchants. No harm, no real money exchange as traditionally defined, no sneaky financial trickery. It’s just business, and the Canadian regulators have said: it’s not our business. Meanwhile, just south of the border, regulators are putting the fear of government into every conceivable crypto-currency merchant. Congress is issuing warnings. The Financial Crimes Enforcement Network is exacting fees. The feds are driving services out of existence. It’s so bad that Bitcoin advocates are reduced to Stockholm-like begging: ‘Please regulate us as soon as possible.'”

http://www.caseyresearch.com/cdd/bitcoin-is-the-new-napster-and-thats-a-good-thing

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IMF’s Lagarde Pleads: Fed Tapering Will Be ‘Arduous’ on Global Economy

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“The head of the International Monetary Fund cautioned the world’s major central banks Friday not to withdraw their unconventional support for weak economies too soon, according to numerous wire service reports. IMF Managing Director Christine Lagarde said stimulative policies are still needed in key regions, especially Europe and Japan, which have struggled with prolonged weakness.  ‘Even if managed well,’ Lagarde said of a central bank’s exit from easy-money policies, that could still present an ‘arduous obstacle course’ for other countries. Lagarde said what’s needed is greater policy coordination and cooperation for the sake of the entire globe.”

http://www.newsmax.com/StreetTalk/imf-lagarde-federal-reserve-taper/2013/08/23/id/522038

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Brazilian Central Bank Launches Intervention Program To Stop The Bleeding

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“The new intervention program announced by the BCB Thursday sees the central bank offering $500 million of dollar swaps in the currency derivatives market on a daily basis for the rest of 2013, and $1 billion of FX spot lines on Fridays.  Essentially, the BCB is taking a big short position in the U.S. dollar. The BCB is conducting the majority of the real-bolstering intervention in the derivatives market as opposed to the spot market because under the latter scenario, the central bank has to burn through the U.S. dollar component of its foreign reserves in order to prop up the currency, whereas with swaps, foreign reserves don’t come into play.”

http://www.businessinsider.com/the-bcbs-new-fx-intervention-program-2013-8

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Emerging market rout threatens wider global economy

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“India’s rupee and Turkey’s lira both crashed to record lows on Thursday following the US Federal Reserve releasing minutes which signalled a wind-down of quantitative easing as soon as next month.  A string of countries have been burning foreign reserves to defend exchange rates, with holdings down 8pc in Ecuador, 6pc in Kazakhstan and Kuwait, and 5.5pc in Indonesia in July alone. Turkey’s reserves have dropped 15pc this year. It was Fed tightening and a rising dollar that set off Latin America’s crisis in the early 1980s and East Asia’s crisis in the mid-1990s. Both episodes were contained, though not easily.”

http://www.telegraph.co.uk/finance/financialcrisis/10260693/Emerging-market-rout-threatens-wider-global-economy.html

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Nazi gold and currency wars – A full guide

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“Nazi gold is a phrase that refers to the bullion looted by the Nazis in the run up to and during the Second World War. Gold clearly plays a strong role in history and features as both a political and economic weapon during the Wars of the 20th Century.  Upon invasion Nazis would loot a country’s gold reserves, along with other valuable assets, and promptly work to devalue the sovereign currency. This pillage of the financial system is not well known but it served effectively as a weapon in their campaign to take-down whole nations. The Nazis consolidated their power by holding gold whilst their victims were consigned to weak paper currencies.”

http://www.mineweb.com/mineweb/content/en/mineweb-independent-viewpoint?oid=199448&sn=Detail

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No One Saw This Coming…

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“Last fall, I sat in a cozy living room on the outskirts of Tallinn, Estonia, drinking coffee, eating freshly baked pastries and listening to a former parliament member for the Soviet Union tell me about a phone call he had recently received from inside Russia’s central bank. The bank officials wanted input on how to build a reserve currency, one backed by the plentitude of hard assets Russia owns. What he told me – easily the most-stunning bit of information I gathered on that research trip – has stuck with me. ‘Russia,’ he announced, ‘is using oil, gas and minerals as the new tools of war instead of military tools. This will be the beginning of a currency cold war.'”

http://sovereign-investor.com/2013/08/01/no-one-saw-this-coming/

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