Beggar-Thy-Neighbor Currency Devaluations Proved Ruinous For The Global Economy In The 1930s, But The World Is Setting Off Down The Same Slippery Slope Again

The Global Currency War Is Escalating

According to numerous high-level insiders, we’re in a dangerous global currency war:

Actually, we’ve been in a global currency war for years.

As the Wall Street Journal asked in 2010:

Beggar-thy-neighbor currency devaluations proved ruinous for the global economy in the 1930s. Is the world setting off down the same slippery slope again?

Yes, we are.

Indeed, Japan’s escalation of the currency war has caused leaders in the Eurozone (more), Norway, Sweden, South Korea, Taiwan, Columbia, Mexico, Peru, Chile, and many other regions to consider further devaluing their currencies.

Even China may be joining the currency war.

(And James Rickard and Reggie Middleton think that Germany’s demand for its gold is part of the currency war.)

And it’s not just conservative voices such as the Journal slamming the currency wars.  For example, former Secretary of Labor Robert Reich points out that a weak dollar makes everyone poorer, and any new jobs created by a a policy of devaluation are low-wage jobs.

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  • charlestonvoice
  • amerikagulag

    Does NO ONE pay attention to ICELAND? Ir if it that the jewstream media has successfully silenced all talk of them?

  • amerikagulag

    ICELAND is the light of the world.

    “Facts do not cease to exist because they are ignored.” – Aldous Huxley

  • Washington76

    George Washington, in his farewell address, made very clear that he thought political parties (factionalism) could become the death knell of a Republic. He preferred to have every politician in competition with all the others, and defending their constituents. He declaimed against the rise of factionalism in the same way Eisenhower did the “military-industrial complex”.

    In part this was supposed to be held in check by the Senate, which was voted on by each State government, not by popular vote. The 17th Amendment changed the way Senators were elected, and the 16th Amendment gave Congress the power to tax incomes. Both changes have led to the leviathan we now have in Washington DC.

    If we don’t repeal these two Amendments then we need something else to let our States reassert their sovereignty as a check against Federal power. Otherwise we remain on the path toward dictatorship, just like the ancient Romans, and just like the Old Republic from “Star Wars”, which was based on what happened to the Romans.

 

 

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