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Currency Wars - It’s On

Chip. Wrote: Sep 22, 2012 1:18 AM
So, other countries print loads of paper money, which thereby is devalued relative to the dollar. Devalued foreign money then can buy fewer American products, thereby destroying American jobs. That's what all this money printing is about? I thought it was about paying for excessive government programs, such as the "stimulus" programs, because not enough money is available from the tax revenues.
Emmet Wrote: Sep 22, 2012 7:12 AM
It's Keynesian through and through. And it is stupid.
Government shall let others devalued, in the long run, the country with the strongest money will prevail. But of course, O will have reelection in a month, so ....

The euro gained back some ground against the dollar in overnight trading as the world woke up to a new round of global currency wars. 

Gold was up $4.01 in early trading to $1,773.06 and silver was up $0.02 to $34.63, leaving the silver/gold ratio steady at 51.2. 

Starting last year I warned readers that the Federal Reserve would be forced into quantitative easing in order to protect American jobs.  When the European Central Bank and Japan both announced they were going to print virtually unlimited quantities of cash in order to address the current economic...