Tuesday, 04 October 2011 20:59

China Fires Back At US Senate Which May Have Just Started The Sino-US Currency Wars

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Feel a chill wind in those words, dear reader? - Jenna Orkin
 
It was QEII, which created tremendous instability in currencies and triggered food inflation that brought up the subject of trade and currency wars as a result of Fed and congressional intervention. Historically, These have been the last major developments before world wars broke out because trade and currency wars devastate national economies. As much as anything else, these anti-China measures confirm for me that whatever is happening over the next few months is only a way-station in a larger agenda.
 
And yet, what is emerging is that banks (especially the central banks) are becoming significantly more overt in their manipulation of national policies and actions. So this might be theater from Schumer. On the other hand, if it isn't then open hostility between the U.S. and China (which historically leads to military confrontation) is also looming.
 
One might be justified in anticipating that some new and deadly form of QE might be in the offing. I am not convinced of the Fed's ability to do anything without some other very drastic major change in the monetary/fiscal landscape. We cannot see the full agenda yet because trade and currency wars by themselves are certain recipes for war. And what I am seeing emerge is bankers just usurping and spitting on governmental powers and privileges as though they were atavistic remnants of the era of nation states.  -- MCR
Last modified on Tuesday, 04 October 2011 21:04
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