fredag 2 mars 2012

Brazil slams rich countries over 'currency war'

BRASILIA, March 1 (Reuters) - Brazilian President Dilma Rousseff slammed rich nations on Thursday for unleashing a “tsunami” of cheap money that threatened to “cannibalize” poorer countries such as her own, forcing them to act to protect struggling local industries.Rousseff’s words amounted to some of the highest-profile criticism to date of efforts by the European Central Bank, the Bank of Japan and others to spur their economies through low interest rates and cheap loans.Without naming specific countries, Rousseff said these measures have damaged emerging-market nations such as Brazil by unleashing a wave of capital inflows. That has made their currencies overvalued and their exports more expensive.

These events are all outlayed in Mr Rickards book. If you haven't yet read it. Then in the below interwiev and in the "chaos" scenario Mr Rickards actually beleives is the most likely the "C" word is mentioned in conjunction to privatley owned gold and as part of what he sees is about to happen as that event unfolds..

Currency Wars: The Making of the Next Global Crisis

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