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post #1 of 13 (permalink) Old 11-05-2010, 05:22 AM Thread Starter
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Currency War

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Guido Mantega, the Brazilian finance minister who was the first to warn of a “currency war”, said: “Everybody wants the US economy to recover, but it does no good at all to just throw dollars from a helicopter.”

Mr Mantega added: “You have to combine that with fiscal policy. You have to stimulate consumption.” Germany also expressed concern.

An adviser to the Chinese central bank called unbridled printing of dollars the biggest risk to the global economy and said China should use currency policy and capital controls to cushion itself from external shocks.

“As long as the world exercises no restraint in issuing global currencies such as the dollar – and this is not easy – then the occurrence of another crisis is inevitable, as quite a few wise Westerners lament,” Xia Bin wrote in a newspaper under the Chinese central bank.

Korn Chatikavanij, Thailand’s finance minister, said the Thai central bank had told him it was “in close talks” with regional central banks over measures “to prevent excessive speculation.”
Let the currency/trade war drums start beating.
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post #2 of 13 (permalink) Old 11-05-2010, 07:11 AM
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No worries Helicopter Ben has this under control....

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post #3 of 13 (permalink) Old 11-05-2010, 07:44 AM
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Meanwhile, back at the ranch, those crooked bastards have been manipulating their currencies for decades in order to give themselves a competitive edge against the US. Fuck them.
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post #4 of 13 (permalink) Old 11-05-2010, 09:37 AM
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talk of this has been going on a while, my fear is that a lot of american investors will be betting against the US in a currency war

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post #5 of 13 (permalink) Old 11-05-2010, 09:44 AM
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post #6 of 13 (permalink) Old 11-05-2010, 11:47 AM Thread Starter
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post #7 of 13 (permalink) Old 11-05-2010, 11:50 AM Thread Starter
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Quote:
Originally Posted by cannonball996 View Post
talk of this has been going on a while, my fear is that a lot of american investors will be betting against the US in a currency war
Seriously, in a trade war, the USA vs everyone else, we loose. I would bet more than half the electronic parts we put in the boxes we sell to the military comes from outside the USA. Defense industry would grind to a halt for six months or more until industry in the USA could retool for production.
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post #8 of 13 (permalink) Old 11-05-2010, 02:59 PM
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Originally Posted by TexasDevilDog View Post
Seriously, in a trade war, the USA vs everyone else, we loose. I would bet more than half the electronic parts we put in the boxes we sell to the military comes from outside the USA. Defense industry would grind to a halt for six months or more until industry in the USA could retool for production.
yes but whats to stop american investors from betting against the dollar? listening to CNBC all day long listening to talk of QE2 and the brewing currency war, I think there are a lot of american investors hoping the dollar looses. wall street, can profit either way, but main street looses when ever the dollar takes a dump.

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post #9 of 13 (permalink) Old 11-05-2010, 03:26 PM
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Bernanke Be Making It Rain Dollas YO!

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post #10 of 13 (permalink) Old 11-05-2010, 03:49 PM Thread Starter
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Quote:
Originally Posted by cannonball996 View Post
yes but whats to stop american investors from betting against the dollar? listening to CNBC all day long listening to talk of QE2 and the brewing currency war, I think there are a lot of american investors hoping the dollar looses. wall street, can profit either way, but main street looses when ever the dollar takes a dump.
I agree. People don't think what is best, or the greater good. If foriegn trade causes 10,000 people in an industry to loose their job, but helps 100's of millions people have a higher standard of living with less money, isn't it best that 10,000 people find another job, so that we all collectively benefit?
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post #11 of 13 (permalink) Old 11-05-2010, 04:14 PM
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Originally Posted by TexasDevilDog View Post
I agree. People don't think what is best, or the greater good. If foriegn trade causes 10,000 people in an industry to loose their job, but helps 100's of millions people have a higher standard of living with less money, isn't it best that 10,000 people find another job, so that we all collectively benefit?
Collectivism. Down with the individual, all for the greater good.

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post #12 of 13 (permalink) Old 11-05-2010, 07:17 PM Thread Starter
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Collectivism. Down with the individual, all for the greater good.
yoda-yoda
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post #13 of 13 (permalink) Old 11-05-2010, 10:48 PM
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Quote:
Originally Posted by cannonball996 View Post
yes but whats to stop american investors from betting against the dollar? listening to CNBC all day long listening to talk of QE2 and the brewing currency war, I think there are a lot of american investors hoping the dollar looses. wall street, can profit either way, but main street looses when ever the dollar takes a dump.
Why WOULDN'T anyone with half a brain bet against the US Dollar? What has our govt and/or the Fed done to make us think that doing anything else would give us a shot of hope for the future?
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