“Out-and-Out Currency War from All Sides” And Other Links

It seems pretty clear that we are now entering a new stage of quantitative easing, competitive currency devaluation, and protectionism. Expect to see a number of posts on this later today. But I want to highlight this here in the links post because there have been a number of salvos in this escalating race to the bottom.

First, there was the Dudley speech, which is now being interpreted as a definite sign that the Fed will go QE. The Japanese have upped the ante by announcing a cut in rates to the 0-0.10% range along with other measures. The Brazilians are now instituting currency controls and the Europeans are urging the Chinese to revalue their currency.

We are getting an out-and-out currency war from all sides now.

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Topic of the Day: Currency (and Trade) War

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