ART CASHIN: 'We Believe Full Currency Warfare May Be Ready To Break Out On A Global Scale'

"In the wake of the financial crisis, some have warned that the world was headed for a currency war as global central banks unleash easy monetary policy in their efforts to weaken their local currencies. The intention behind such actions is to boost exports and in turn boost the economy.

Art Cashin, UBS Financial Services Director of Floor Operations, think that the world is about to tip.
From this morning's Cashin's Comments:

Currency Warfare – We believe full currency warfare may be ready to break out on a global scale.

The overt move to cheapen the Japanese yen has attracted both attention and participation. (Hedge funds and pseudo hedge funds are aggressively shorting the yen and buying the Nikkei.)

Competitors and trading partners from Korea to China are voicing concerns and challenges. Countermoves may be imminent.

Germany, a price export competitor of Japan (think autos for example), is being pinched as the ECB stands pat and the Euro soars.

The clock has begun ticking and we will explore this topic again and again in the days ahead..."

at  http://www.businessinsider.com/art-cashin-warns-of-currency-warfare-2013-2#ixzz2JgOooOFQ