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TheStreet Open House

The Currency War, Part II

Editor's Note: This is the second of a two-part series. Read The Currency Wars, Part I.

NEW YORK ( Bullion Bulls Canada) -- In Part I , readers saw how our political "leaders" were deliberately destroying our economies (at the request of the Corporate Oligarchs whom they serve) in order to boost the short-term corporate profits of these Oligarchs -- by destroying the wages of their own workers.

Readers also saw the additional costs of this economic suicide: massive unemployment, spiraling debts, and soaring inflation.

This comes in the context of a convoluted logic in Bloomberg article that discusses the current financial summit of the G-20; where the G-7 sub-group issued a quasi-denial that they were planning a "currency war." This is, of course, a ludicrous lie -- since we have roughly a decade of actions by these same G-7 nations that totally contradict their hollow words.

For the past 10 years or so "competitive devaluation" has been the official monetary policy of these governments: competing to see who could destroy the value of their currency the fastest. So how would a "currency war" differ from our present "competitive devaluation"?

At most, a currency war would simply be a greater degree of what these corrupt governments have already been doing for the past 10 years. At least, the difference is pure semantics. Thus when Bloomberg speaks of our governments efforts to "calm concern" about a currency war, the sham is utterly transparent.

Our dishonest governments are attempting to reassure us they aren't "planning" on doing (in the future) the same thing they have been doing for the past decade. This is much like a heroin addict (with needles sticking out of his pockets) assuring anyone who will listen that he has "no plans" on shooting up.

This leads us to two closely related questions. Why are our governments lying about their currency destruction? Why is the success of this lie of such vital importance to these governments? The answer to these questions requires one-half arithmetic and one-half understanding human nature.

One thing which humanity has always been good at is destroying things. Thus when our governments compete to destroy their own currencies, we know they will be successful. From the moment that competitive devaluation began, the only possible outcome was all these debauched currencies going to zero -- i.e., the definition of hyperinflation.

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