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Author Topic: Russia Says World Is Nearing Currency War as Europe Joins  (Read 680 times)
caveden
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January 17, 2013, 08:42:42 AM
 #1

http://www.businessweek.com/news/2013-01-16/russia-says-world-is-nearing-currency-war-as-europe-joins

The amount of economic ignorance is impressive.

Guess we should be happy - if such "war" really intensifies, more people might give Bitcoin a chance. If anything, we'll at least manage to retain part of our purchasing power simply by having less fiat.

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January 17, 2013, 09:01:12 AM
 #2

http://www.businessweek.com/news/2013-01-16/russia-says-world-is-nearing-currency-war-as-europe-joins

The amount of economic ignorance is impressive.

Guess we should be happy - if such "war" really intensifies, more people might give Bitcoin a chance. If anything, we'll at least manage to retain part of our purchasing power simply by having less fiat.

So the race is having the cheapest currency to boost export, and lower interest to aid business investing?

It makes sense. However everybody can't have the cheapest currency. The US is putting everyone under pressure with their accelerated money printing. However if the US can pull it off and show improved figures for employment and export, the rest of us will benefit also.

This tactic can also go horrible wrong of course.


 
 
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Rob E
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January 17, 2013, 09:18:52 AM
 #3

They've done everything wrong so far you still trust they will do anything right?
Luno
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January 17, 2013, 09:24:08 AM
 #4

They've done everything wrong so far you still trust they will do anything right?

No I'm not. It is common state economics tactics. The problem is still that the growth in economy is just growth in financial speculation, as nothing has changed since 2007, except that the disaster gets bigger each time.


 
 
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Rob E
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January 17, 2013, 10:06:38 AM
 #5

Yeh and they will keep continuing into 2013 there is absolutely no indication the government will correct or pull us out of this mess.  Nothing.   I think we all need to let go of looking to the government to solutions in "every" way. They've failed on every front money health  . education. Foreign relations. The whole system needs to be replaced or worse things will happen. This system is not gonna stop by itself. . 
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January 17, 2013, 12:51:56 PM
 #6

Didn't Germany try this once.
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January 17, 2013, 01:00:14 PM
 #7

Didn't Germany try this once.

International economics is the civilised form of war. When economical power is exhausted, the old kind of power takes over the scene.


 
 
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vite
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January 17, 2013, 01:10:47 PM
 #8

Hmm if everyone prints and prints and prints, the exchange rates will remain fairly equal but the purchasing power of people and businesses will be greatly diminished.
In the end the people take the hit, as is comun in the world.

edit: Forgot to add the countries that suffer are countries that don't print their own currency. Panama back in 2009 - 2010 suffered inflation at a rate of almost %6 when historically it has always been at about %2.5 because of imported inflation due to US printing Smiley this caused a price spike on all goods and services and made the government impose price regulation (helped with subsidies) on certain goods, thus killing a traditional free market system which is now partially controlled.

 

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jimbobway
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January 17, 2013, 02:55:43 PM
 #9

Odd.  They want to devalue their currency to spur growth.  This means finance minisiters around the world want to make their constituents work harder for less money so they can compete with other countries.  This is the 1% at work forcing the 99% to work harder than ever.  Bitcoin liberates us from these manipulations with free market.

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January 17, 2013, 02:56:21 PM
 #10

Hmm if everyone prints and prints and prints, the exchange rates will remain fairly equal but the purchasing power of people and businesses will be greatly diminished.
In the end the people take the hit, as is comun in the world.

edit: Forgot to add the countries that suffer are countries that don't print their own currency. Panama back in 2009 - 2010 suffered inflation at a rate of almost %6 when historically it has always been at about %2.5 because of imported inflation due to US printing Smiley this caused a price spike on all goods and services and made the government impose price regulation (helped with subsidies) on certain goods, thus killing a traditional free market system which is now partially controlled.

I'm not sure multiple nations money printing will be on par or coordinated in any way,even if there are agreements, when there is any kind of panic! On the other hand you would try to keep quiet about it and downplay the consequences to you citizens. You don't either want to get the hyper or high inflation label, so it will not be a flat out race.

If your inflation is too low, your currency will be considered safe and your bonds worth more, but you will have an expensive currency as speculators buy it so your countrys export will suffer.

I think that most governments consider exchangerate speculation too risky to base their monetary policy on.


 
 
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vite
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January 17, 2013, 04:42:11 PM
 #11

Hmm if everyone prints and prints and prints, the exchange rates will remain fairly equal but the purchasing power of people and businesses will be greatly diminished.
In the end the people take the hit, as is comun in the world.

edit: Forgot to add the countries that suffer are countries that don't print their own currency. Panama back in 2009 - 2010 suffered inflation at a rate of almost %6 when historically it has always been at about %2.5 because of imported inflation due to US printing Smiley this caused a price spike on all goods and services and made the government impose price regulation (helped with subsidies) on certain goods, thus killing a traditional free market system which is now partially controlled.

I'm not sure multiple nations money printing will be on par or coordinated in any way,even if there are agreements, when there is any kind of panic! On the other hand you would try to keep quiet about it and downplay the consequences to you citizens. You don't either want to get the hyper or high inflation label, so it will not be a flat out race.

If your inflation is too low, your currency will be considered safe and your bonds worth more, but you will have an expensive currency as speculators buy it so your countrys export will suffer.

I think that most governments consider exchangerate speculation too risky to base their monetary policy on.

Panama does not print any currency, but adopted the US dollar as legal tender and allows banks to open bank accounts in different currencies. Except bitcoins hehe

 

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