"Yesterday, the fine folks of Tradition Analytics were kind
enough to explain (once again) just how it is that the Fed has boxed itself
into a corner, where in order to maintain the already outlierish growth rate of
monetary supply, the Fed will have no choice but to print (same with the ECB),
or else risk a massive economic collapse (thank you Austrian
theory). Today, the same group provides an update on what everyone knows has
been the status quo's only way of dealing with the deleveraging tsunami since
March 18, 2009: currency warfare. In the note below, they provide a recap of the
recent history of FX warfare, as well as an update of where we stand currently.
Keep in mind, currency warfare only works to a point. Then it escalates into
other, more violent forms, first trade wars, then real ones..."
at http://www.zerohedge.com/news/currency-wars-update
at http://www.zerohedge.com/news/currency-wars-update
