Currency War Threatens to Ripple Across Global Markets

[UpInArms]

Source: Fortune

The currency war has arrived.

So say some of the best and brightest in the $5.1 trillion-per-day foreign-exchange market. U.S. President Donald Trump on Friday accused China and the European Union of “manipulating their currencies and interest rates lower.” The comments came after the yuan plunged to its lowest level in a year, with little sign of China’s central bank intervening to stem the slide. They also follow a decline in the euro this year and add to the calculus that European Central Bank policy makers might need to consider when they meet next week.

As the world’s largest economies open up a new front in their increasingly acrimonious game of brinkmanship, the consequences could be dire — and ripple far beyond the U.S. and Chinese currencies. Everything from equities to oil to emerging-market assets are in danger of becoming collateral damage as the current global financial order is assailed from Beijing to Washington.

Read more: http://amp.timeinc.net/fortune/2018/07/21/currency-war-global-markets

---

Very short blurb

[beachbum bob]

1. Beginning of the end of the dollar as worlds reserve currency

Putin is pleased as hell

[Iliyah]

2. Dumb ass t-rump is helping Putin

UGH

[Strelnikov_]

6. Yep. Putin wrote about replacement of the dollar as the worlds reserve currency

in his PHd thesis in the 90's.

The petrodollar is about to take on even greater importance in maintaining the dollar's position.

That said, how long till Trump pisses off Saudi Arabia.

[beachbum bob]

10. the invention of cryptocurrency will hasten the replacement of the dollar at some point as

that holds the US in a position of power that Putin, China and OPEC can't stand. With destroying our trade alliances and defensive alliances, no country is going to defend America when this happens

[Igel]

11. We have a beginning of the end

just about every 6 months on DU.

That's only for the last 14 years or so, since I've been following DU.

[SergeStorms]

3. Since everything Trump touches turns to...

HA! I bet you thought I was going to say "gold", right? No, we all know Trump has the anti-midas touch. He may paint everything gold, but it will eventually (and usually rather quickly) turn to shit. Our "stable genius" president does it again, and it's going to hurt a lot of people.

[George II]

4. Actually I thought you were going to talk about Rick Wilson's new book:

[keithbvadu2]

5. International Finance class in college

International Finance class in college

Buying/selling/converting currencies.
Dealing with 3 currencies at once.
Horrible class.
Didn't want to wake up
Didn't want to get up
Didn't want to drive to school
Didn't want to go to class
Absolute confidence that the 3 currency problem would be on the test.
It was. Practiced it and nailed it.
First test weeded them out like flies.
Same absolute confidence that it would be on the final.
It was. Practiced it again and nailed it.

Got a B for the semester.
Very happy with a B

[roamer65]

7. Voltaire, 1729.

“All paper money eventually returns to its intrinsic value....zero.”

[roamer65]

8. I think China's destination is 8RMB to 1USD.

That will negate a good chunk of the tariffs.

It ensures their imports into US maintain moderate price levels, but absolutely crushes our export market into China with tariffs plus currency appreciation.

[BadGimp]

9. #PutinsWinsAgain and the GOP is now The #PartyOfPutin