Tag Archives: Currency Wars

Current Currency Wars

World Reserve Currency Teeter-Totter-- if they go up, we go down

World Reserve Currency Teeter-Totter–
if they go up (inflate), we go down (deflate)

In “Currency Battle Is Tethered to Obama Trade Agenda,” The New York Times recently offered some bases for insight and conjecture concerning currency:



“A number of countries — China most prominent among them — have long acted to hold down the value of their currencies against the dollar, helping their industries by keeping exports to American consumers cheaper and making goods from the United States more expensive.”


Since the fiat dollar is still the World Reserve Currency, there’s a teeter-totter relationship between US dollars and the rest of the world’s major fiat currencies.  When foreign countries hold their currencies down in relation to the dollar, they hold the dollar up. That is, by inflating foreign currencies they make the dollar more valuable and thereby contribute to dollar deflation.

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“Currency Wars” Against Whom?

Inflation & Gold

Inflation & Gold (Photo credit: Paolo Camera)

When you have a “war,” it is presumably waged against a particular “enemy”.  If the governments of the world are about to engage in “currency wars,” who, pray tell, are their enemies?

PremiseBy inflating its currency and thereby lowering its currency’s value, a nation fosters its “competitiveness” in foreign markets—but simultaneously robs its domestic creditors of their savings and robs  its own working people of their standard of living. 

•  Inflation makes the fiat dollar “cheaper” and thereby benefits two primary groups:

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First to “See”?


Seeing (Photo credit: parker yo!)

In July of A.D. 2009, I posted an article on this blog entitled “The Undefined Dollar, Part II”.  In that article, I wrote in part:


“Our current economic problem began in 1934 when President Roosevelt removed gold-backed dollars from domestic circulation.  The problem was aggravated in 1968 when the gov-co stopped redeeming paper silver certificates with silver dollars and thereby removed all tangible definition from the domestic dollar.  The problem was further exacerbated in 1971 when President Nixon closed the “gold window” in international trade and thereby left the dollar without definition in both the domestic and international spheres.

“Once the dollar was completely undefined, the U.S. should’ve soon suffered a massive economic failure.  However, Nixon and Kissinger devised a brilliant deal with Saudi Arabia whereby the U.S. guaranteed the Saudi’s security and the Saudi’s guaranteed to sell their crude oil for dollars only.  OPEC quickly followed the Saudi’s lead and for the next 30 years, any nation that wanted to purchase oil on the international market could do so only with dollars.

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Posted by on October 7, 2012 in Currency Wars, Money, US Dollar, Video, War


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Currency Wars: The Final Battle?

Français : plusieurs billets de 5000, de diffé...

Français : plusieurs billets de 5000, de différentes monnaies : franc, yen, lire, dollar (Photo credit: Wikipedia)

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) describes itself as, “a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. More than 9,000 banking organisations, securities institutions and corporate customers in 209 countries trust us every day to exchange millions of standardised financial messages.”

SWIFT is the backbone of global free trade.  By means of SWIFT, businessmen in virtually any country can digitally buy or sell products to other businesses anywhere else on the globe.  Without access to SWIFT, global trade would be slow, uncertain and difficult.

The US gov-co has recently ordered Iranian banks be denied access to SWIFT until the Iranian government agrees to meet US demands concerning Iranian nuclear weapons.  Nations such as India (which are buying crude oil from Iran) are also threatened with restricted access to SWIFT unless they stop purchasing Iranian crude.

According to Bloomberg (“U.S. Wants Iran Oil Buyers to Pledge Cuts or Risk Sanctions”),


“If a country doesn’t prove it’s making the necessary reductions [in the purchase of Iranian crude oil] by the end of June, any institution in that nation that settles petroleum trades through Iran’s central bank will be cut off from the U.S. banking system.”

And conversely, the US banking system (and US dollar) will be “cut off” from any nation that continues to trade with Iran.

The question is:  Who needs who?

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US Pushed the “Nuclear Economic Trigger”

Key Petroleum Sector facilities (2004) Iran (W...

Key Petroleum Sector facilities (2004) Iran and Strait Of Hormuz (source: CIA map)

Jim Sinclair is one of the best known “gurus” in the gold investment industry.   In the following interview, Mr. Sinclair explains the significance of 1) Iran’s sale of crude oil to India and Japan for currencies (including gold) other than the fiat dollar; and, 2) the US government’s threats against India and even Japan for buying Iranian oil with currencies (or gold) other than the US dollar.

Sinclair describes these conflicts as taking place in the context of economic warfare.  He’s serious. He’s not referring to “economic warfare” as a metaphor.  He means we are at war, right now.  Objective?  To protect the fiat dollar from destruction.

Sinclair describes US threats against not only “wicked” Iran, but also against our allies India and Japan as evidence that the US has pushed the “Nuclear Economic Trigger”.  That description is a metaphor.  There’s nothing actually “nuclear” (so far) about the current economic threats.  “Nuclear” is simply intended to illustrate the magnitude of the economic power that’s being released (or at least threatened) at this time.

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Posted by on March 20, 2012 in Currency Wars, Economy, Money, US Dollar, Video, War


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Max Keiser for Sec’y of Treasury!

Wall Street

Image by zoonabar via Flickr

Wall Street banks wrap themselves in the flag and plunder the global economy.  A financial WWIII is on.

Max Keiser provides commentary that is both objective and passionate, insightful and impish.  Somebody ought to appoint him to be the US Secretary of the Treasury.

video   00:06:06


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Currency War III—the Libyan Intervention

The Federal Reserve: The Biggest Scam In History

“Legal reform” is a catch-all for dissidents who’re fed up with governmental abuse—especially in our courts.  I’ve been a political activist in the “legal reform” movement for 28 years.

I published a magazine (the AntiShyster) for 12 years that dealt with “legal reform” issues and strategies.  The issues were almost always valid.  The strategies devised to combat governmental abuse sometimes worked, but were often half-baked, ineffective or even unlawful.  Those strategies weren’t “wrong,” per se—they were simply the first steps in learning to understand and resist governmental oppression.

As a result of publishing a multitude of articles in the AntiShyster on these various “legal reform” strategies, in the 1990’s I came to understand a fundamental truth:  dissidents could advocate almost any strategy they liked (no drivers license, stop paying income tax, even call for the assassination of the President) and they might attract some onerous governmental attention—or they might not.  (The gov-co doesn’t really care if you kill a president.  They can screw ‘em in and screw ‘em out of office—just like light bulbs.  In the eyes of the gov-co, even presidents are “disposable”.)  But any dissidents who dared to effectively challenge the money system (and some did with homemade money orders, “comptrollers warrants,” and even attempts to initiated their own silver-based money, etc.) were going to jail.  You could bet on it.

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