Socio-Economics History Blog

Socio-Economics & History Commentary

Cris Putnam: Petrus Romanus “Peter the Roman”, the Final Pope is Here!

  • Interview of Cris Putnam starts at the 67.00 minute mark.
  • 19 Feb 2013 Radio Preacher Man Show – Stew Webb/Cris Putnam (Petrus Romanus)! 
    Guests: Stew Webb from http://www.stewwebb.com and Cris Putnam from http://raidersnewsupdate.com/
    It is obvious that America is under judgment. It is imperative, especially now, that we develop a close relationship with our Creator Jesus. In these end days, it is vital to hear the Word of God and then be a doer of the Word. DO YOU NEED HELP WITH THIS? Well, then, the Radio Preacher Man is the man with God’s plan! The Radio Preacher Man focuses on the Word of God and how to apply God’s principles and commandments into our daily lives. Also, informative experts and watchmen often join RPM. They share information on “taboo” subjects that churches are not discussing, such as the earth changes, nephalim, and the rise of the beast and the antichrist. RPM explores these hot topics that churches refuse to discuss!

    It is extremely urgent now to get prepared, be prepared and help others prepare for His Second Coming. The Radio Preacher Man will do his best to help you prepare for eternity. Revelations per Minute airs at 6-8 p.m. Monday to Friday. If you want to talk to RPM or the guests, call 661-449-9924. The chatroom is at http://www.radiopreacherman.tk. See you there!
http://prophecyofthepopes.com/

Petrus Romanus the final pope is believed to be the False Prophet of the Bible book of Revelation.

http://www.nytimes.com/2013/02/12/world/europe/pope-benedict-xvi-says-he-will-retire.html

Pope decided last March 2012 to resign. Cris Putnam and Tom Horn are correct in their prediction!

Pope_the_Vicar_of_Christ_666

http://www.exovaticana.com/

Click on image to goto article!

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February 21, 2013 Posted by | EndTimes, GeoPolitics | , , , , | 2 Comments

DHS Preparing for Massive Civil Unrest !

NaziRoots_of_Dept_Homeland_Security

Dept_Homeland_Security_Terrorism_Announcement1

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February 21, 2013 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , , , , | Comments Off on DHS Preparing for Massive Civil Unrest !

Italian Lawyer Takes On Bilderberg Elite!

  • Published on Feb 20, 2013
    Italian lawyer Alfonso Luigi Marra has requested that the Public Prosecutor of Rome investigate the secretive Bilderberg Group for criminal activity, questioning whether the elitist organization’s 2011 meeting in Switzerland led to the selection of Mario Monti as Prime Minister of Italy.  http://www.infowars.com/italian-lawye…
Illuminati Round Table, Geo-Political Organization Chart

Illuminati Round Table, Geo-Political Organization Chart

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February 21, 2013 Posted by | GeoPolitics | , , | Comments Off on Italian Lawyer Takes On Bilderberg Elite!

Scott Rickard: Zionists Strictly Control Western Media!

https://socioecohistory.wordpress.com/2011/05/07/666-star-of-david-or-star-of-moloch-satanic-hexagram-symbol/

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

http://blogs.timesofisrael.com/jews-do-control-the-media/

Click on image to goto article!

http://www.latimes.com/news/opinion/commentary/la-oe-stein19-2008dec19,0,4676183.column

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February 21, 2013 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , | 1 Comment

Central Banks Game Plan: One World Currency!

Chester_Ward_One_World_Government_CFR

  • Central Banks Game Plan: One World Currency! 
    by http://www.batr.org/
    Only those in total denial would claim that the world economies could grow their way out of the debt bubble. Mathematically, the rules of compound interest always destroy the purchasing value of fiat currencies. The era of zero interest rates will end. When the cost to finance debts reverts to normal levels, the bleeding will become a gusher. The world reserve currency status of Federal Reserve Notes will come under enormous pressure. As the central banks consolidate their control over international commerce and the economies of individual countries, the coin of the new realm will shift to a replacement for the U.S. Dollar.

    There is no current replacement for the Dollar among existing world currencies. In order to substitute the role that the Dollar plays in trade a new measure of transactions would need to become acceptable to settle trade transactions. A mere substitution with some form of a basket of currencies or the inclusion of gold, does not resolve the enormous overhang of debt obligations needed to redeem all the Dollars that float around the world. The de facto use of Dollars within foreign borders to conduct business supersedes the local legal tender laws that many countries model after those imposed domestically on American citizens.

    All this would change when the reserve status of the Dollar evaporates. The IMF created back in 1969 the SDR.

    “The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. In addition to its role as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other international organizations.”

    As fiscal and political observers understand, the International Monetary Fund is a tool of central bankers, used to cast their will over sovereign nations. Monetary bondage is the core business of finance. In order to delay the ultimate day of reckoning, a shift in appearance will be offered as an alternative to the loss in Dollar confidence.

    In an IMF paper, Enhancing International Monetary Stability—A Role for the SDR? – The concept of a modified idea of a previous proposal resurrects.

    read more!

http://www.thenewamerican.com/world-news/europe/item/8864-vatican-council-calls-for-world-government-central-bank

Still think that a World Government and a Global Supra-National World Central Bank is a conspiracy theory? Don't be naive!

Still think that a World Government and a Global Supra-National World Central Bank is a conspiracy theory? Don’t be naive!

Carroll_Quigley_Tragedy_n_Hope2

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February 21, 2013 Posted by | Economics | , , , , , , , , , , , , , , , , | Comments Off on Central Banks Game Plan: One World Currency!

Currency Wars – Race to the Bottom! Endgame – One World Currency & Global Supra-National Central Bank!

“They are planning through the IMF to come up with a World Currency to replace the dollar because the dollar will be replaced you just can’t keep printing them forever …. They wanna come up with another currency controlled and ruled by the United Nations and IMF ! “ – Quote: Ron Paul, 12 Jan 2012 at South Carolina.

“Are we going to go another step further into INTERNATIONAL MONEY … are we gonna go toward a U.N./IMF STANDARD where they are going to control with the USE OF FORCE another fiat standard. That’s what many people are working for and I CONSIDER THAT A VERY DANGEROUS MOVE!” – Ron Paul

  • The western Illuminati’s objectives for this engineered global economic, financial and currency crisis are: Global Supra-National Central Bank and a One World Currency leading to ‘666’! Emphasis mine:

    Currency Wars – Race to the Bottom
    by James Hall, Activist Post 
    The alarmist media always seeks to sell papers or broadcast ratings built on the unswerving fear that following the financial meltdown the banking establishment profits from the debt liquidation panic. The lack of stability in fiscal confidence certainly abounds, but the schemes to paper over the mountain of liability obligations, develop at even a more rapid pace.

    The implied result of a real currency war is that nations are acting or defending their own national interests. The truth is that fiat currencies, designed to depreciate, benefits the moneychangers as the loss of purchasing power penalizes taxpayers and consumers. The financial press spins the “so called” harmonious unity of the industrial nations, in a lame attempt to ease concerns that the money markets can be trusted. An example is the G20 summit to focus on ‘currency war’ threat to economy.

    This Independent article, lays out the implications of the current currency row.

    G20 officials are set to disregard key parts of the G7 currency statement while making no direct mention of new debt-cutting targets – something Germany is pressing for but which the United States is opposed to.


    CMC Markets analyst Michael Hewson said: “What the G7 basically said this week is that it is fine to manipulate your currency as long as you don’t talk about it. These ‘currency wars’ are more like phony wars. The bigger problem the G20 has is not currency wars, it is a lack of growth.”

    Substitute the term currency war with coordinated inflation, cloaked in the public announcements, out of the globalist ministers for a single world currency. Do not doubt for a moment that the ultimate goal is to create managed crisis, in order to push sovereign countries into incessant serfdom.

    read more!

Ron_Paul_Merger_of_ECB_FedRes_BOJ_WorldCentralBank

http://www.thenewamerican.com/economy/economics/item/4499-the-emerging-global-fed

http://www.thenewamerican.com/economy/economics/item/4489-imf-report-promotes-world-currency

http://www.thenewamerican.com/economy/economics/item/4498-waking-up-to-a-world-currency

http://americanfreepress.net/?p=1263
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February 21, 2013 Posted by | Economics, EndTimes, Social Trends | , , , , , , , , , , , , , , | Comments Off on Currency Wars – Race to the Bottom! Endgame – One World Currency & Global Supra-National Central Bank!

3-D Printer Could Create Human Organs!

February 21, 2013 Posted by | Medicine & Health, Science & Technology | Comments Off on 3-D Printer Could Create Human Organs!

CrossTalk: Orwellian Skies! The Drone Wars Against Humanity!

  • Daniel 7:23 (New King James Version)
    23 “Thus he said:
    ‘The fourth beast shall be
    A fourth kingdom on earth,
    Which shall be different from all other kingdoms,
    And shall devour the whole earth,

    Trample it and break it in pieces.


    Daniel 11:36-39 (New King James Version)
    36
    “Then the king shall do according to his own will: he shall exalt and magnify himself above every god, shall speak blasphemies against the God of gods, and shall prosper till the wrath has been accomplished; for what has been determined shall be done. 37 He shall regard neither the God[a] of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all.

    38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain.
http://www.politifact.com/truth-o-meter/statements/2011/sep/14/ron-paul/ron-paul-says-us-has-military-personnel-130-nation/

Click on image to goto article!

US 'defence' (war really) budget is well over US$1T when all the discretionary spending are added ! It is over 50% of tax revenues!

Discretionary spending in the FY 2013 budget was slashed to $1.264 trillion from $1.319 trillion budgeted in FY 2012. America is a WAR economy!

Discretionary spending in the FY 2013 budget was slashed to $1.264 trillion from $1.319 trillion budgeted in FY 2012. America is a WAR economy!

US-military-presence-overseas

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February 21, 2013 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , | Comments Off on CrossTalk: Orwellian Skies! The Drone Wars Against Humanity!

US Federal Non-Military Agencies Buy Two Billion Rounds of Ammunition!

https://socioecohistory.wordpress.com/2012/08/22/major-general-jerry-curry-why-are-domestic-government-agencies-purchasing-enough-lethal-ammunition-to-put-5-rounds-in-every-american/

Click on image for article!

  • US Federal Non-Military Agencies Buy Two Billion Rounds of Ammunition! 
    by William Bigelow, http://www.breitbart.com/ 
    Something strange is going on. Federal non-military agencies have bought two billion rounds of ammunition in the last 10 months. The Obama Administration says that federal law enforcement agents need the ammunition for “mandatory quarterly firearms qualifications and other training sessions.”

    Radio show host Mark Levin is suspicious. He commented:

    To provide some perspective, experts estimate that at the peak of the Iraq war American troops were firing around 5.5 million rounds per month. At that rate, the [Department of Homeland Security] is armed now for a 24-year Iraq war. A 24-year Iraq war! I’m going to tell you what I think is going on. I don’t think domestic insurrection. Law enforcement and national security agencies, they play out multiple scenarios. … I’ll tell you what I think they’re simulating: the collapse of our financial system, the collapse of our society and the potential for widespread violence, looting, killing in the streets, because that’s what happens when an economy collapses. I suspect that just in case our fiscal situation, our monetary situation, collapses, and following it the civil society collapses, that is the rule of law, they want to be prepared. I know why the government’s arming up: It’s not because there’s going to be an insurrection; it’s because our society is unraveling.

    Even though the National Rifle Association says that the amount of ammunition bought isn’t excessive, considering the number of federal agents and the fact that the ammunition is used over a five-year period, there are others who question why the need for so many federal agents. Among them is Jeff Knox, director of The Firearms Coalition, who said:

    It’s not the number of bullets we need to worry about but the number of feds with guns it takes to use those bullets. There are currently more than 70 different federal law enforcement agencies employing over 120,000 officers with arrest and firearms authority . . . That’s an increase of nearly 30 percent between 2004 and 2008. If the trends have continued upward at a relatively steady rate, that would put the total number of federal law enforcement officers at somewhere between 135,000 and 145,000. That’s a pretty staggering number, especially when you consider that there are only an estimated 765,000 state and local law enforcement officers. That means that about one in seven law enforcement officers in the country works directly for the federal government, not a local jurisdiction.

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February 21, 2013 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , , , , | Comments Off on US Federal Non-Military Agencies Buy Two Billion Rounds of Ammunition!

Unlimited Fiat Under Guise Of Currency Wars Sweeping Planet !

Helicopter-Ben_Bernanke

  • Unlimited Fiat Under Guise Of Currency Wars Sweeping Planet! 
    by www.kingworldnews.com
    Today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News.  Fitzwilson, who is founder of The Portola Group, warns, “Unlimited creation of fiat currency under the guise of currency wars is now sweeping the planet.”

    “Last week saw several amazing events.  The first was the anticipated near miss of the asteroid known as DA14.  The second was the meteor that “exploded” over Russia’s Ural Mountains, hours ahead of the arrival of DA14.  The scary part is that the “anticipation” had only been since Spanish astronomers discovered the asteroid last February, and the meteor literally came out of the blue.  There was no discovery and the anticipation could be measured in seconds.

    For most of us, we have a sense that government entities and scientists have our back when it comes to these celestial car accidents.  The truth is that only about 1% of the asteroids and comets have even been identified out of a possible surmised 1,000,000 candidates.  As we saw, these objects can transfer kinetic energy on impact equivalent to an unthinkable number of nuclear explosions.  Perhaps there is nothing that we humans can do about it, but we are in the midst of a celestial shooting gallery that could turn tragic and fatal if one of the major objects hits the planet.

    Another amazing event that could have a monumental effect on our markets, economies and portfolios was a barely noticed warning coming from one of the main regulatory bodies in the United States, FINRA.  The warning was about the risks and dangers of longer-term fixed income.  We certainly agree with them, but it is extraordinary to see the power of the government behind that viewpoint….

    read more!

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February 21, 2013 Posted by | Economics | , , , , , , , , , , , | Comments Off on Unlimited Fiat Under Guise Of Currency Wars Sweeping Planet !

Max Keiser: Propped Up Bond Market Set to Burst in April !

February 21, 2013 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , | Comments Off on Max Keiser: Propped Up Bond Market Set to Burst in April !

The Moral Decoding of 9-11: Beyond the U.S. Criminal State, The Grand Plan for a New World Order!

http://www.americanfreepress.net/html/9-11_solved118.html

Click on image for article!

  • 9/11 was an inside job! It was planned by the western Illuminati and executed via the CIA and Mossad. It was to drive the world to the Satanic World War 3 via the Illuminist social engineers’ Clash of Civilizations plan/meme (Samuel Huntington). The endgame is a Luciferian New World Order, Global Supra-National Central Bank, One World Currency –> ‘666’!

    The Moral Decoding of 9-11: Beyond the U.S. Criminal State, The Grand Plan for a New World Order! 
    by Prof. John McMurtry, http://www.globalresearch.ca/ 
    Part 1
    We bring to the consideration of our readers this incisive and carefully formulated analysis by Canada’s renowned philosopher Professor John McMurtry.

    The complete text published by the Journal of 9/11 Studies can be downloaded in pdf 

    *          *          *
    I was sceptical of the 9-11 event from the first time I saw it on television. It was on every major network within minutes. All the guilty partieswere declared before any evidence was shown.The first questions of any criminal investigation were erased.  Who had the most compelling motives for the event? Who had the means to turn two central iconic buildings in New York into a pile of steel and a cloud of dust in seconds?[i]

    Other questions soon arose in the aftermath. Why was all the evidence at the crime scenes removed or confiscated? Who was behind the continuous false information and non-stop repetition of “foreign/Arab terrorists”when no proof of guilt existed? Who was blocking all independent inquiry?

    Even 11 years on these questions are still not answered.

    But those immediately named guilty without any forensic proof certainly fitted the need for a plausible Enemy now that the “threat of the Soviet Union” and “communist world rule” were dead.  How else could the billion-dollar-a-day military be justified with no peace dividend amidst a corporately hollowed-out U.S. economy entering its long-term slide? While all the media and most of the people asserted the official 9-11 conspiracy theory as given fact, not all did.


    A Bay Street broker with whom I was improbably discussing the event in Cuba had no problem recognising the value meaning. When I asked what he thought about the official conspiracy theory, he was frank:

    “You can call it what you want, but America needs a war to pull the people together and expand into new resource rich areas. That what it has always done from Mexico on. And that is what it needs now”.  When I wondered why none in the know said so, he smirked: “It would be impolite”, adding, “It affects the entire future prosperity of America and the West”. And all the deaths? “It had to be done –far less than it could have been”. The 19 Arabs with box-cutters reducing the World Trade Center buildings to powder in a few seconds? He shrugged.

    Thus everyone since 9-11 is prohibited nail-clippers on planes to confirm the absurd – including 15 of the 19alleged hijackers being from Saudi Arabia and several apparently still alive after crashing the planes into the buildings.[ii]

    As for the diabolical mastermind Osama bin Laden, he is never linked by credible evidence to the crime and never claims responsibility for the strike since the videos of him are fakes. “Ground Zero” is a double entendre. All doubts are erased apriori.

    Decoding the U.S. Theater of Wars and the Moral Driver Behind
    One already knew that suspension of belief is the first act of fiction, and that instant culture rules the U.S. One already knew that monster technical events are America’s stock in trade. And one already knew the long history of false U.S. pretexts for war – so well established that a young strategic thinker a decade after 9-11 advises the right-wing Washington Policy Institute on how to create a crisis by deadly planned incident to make war on Iran – “it is the traditional way of getting into war for what is best in America’s interests”.[iii]


    read more!
http://en.wikipedia.org/wiki/The_Clash_of_Civilizations

This is an Illuminist psyop planned many decades ago!

Luciferian_New_World_Order_Koch_n_Spangler

Texe_Marrs_Satanic_Masonic_Doctrine_Circle_of_Intrigue

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February 21, 2013 Posted by | GeoPolitics, History | , , , , , , , , , , , , , , | Comments Off on The Moral Decoding of 9-11: Beyond the U.S. Criminal State, The Grand Plan for a New World Order!

Jim Rickards: Currency War 3 Has Just Begun!

Click on image to download MP3 interview on 16 Feb 2013!

Click on image to download MP3 interview on 16 Feb 2013!

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February 21, 2013 Posted by | Economics | , , , , , , , , , , , , , , , , | Comments Off on Jim Rickards: Currency War 3 Has Just Begun!

The Great Gold Deception and Misdirection!

Saturn_V_rocket_Vector_100_by_rogelead

  • The world is returning to a gold standard. Currency wars are escalating. All fiat currencies are going down the toilet bowl of currency debasement. It is a matter of when a global currency meltdown will happen. When it does, countries that back their currencies with gold will survive. The era of unbacked fiat currencies created out of thin air is coming to an end. I do not believe the Illuminist banksters can depress the price of gold indefinitely. Hundreds of tonnes of physical gold are disappearing from the west to the east.
  • Asian exporting nations led by China are dumping their USD in exchange for physical gold. Without physical gold, the Anglo-American-Illuminist empire will crumble ie. it is the end of their global monetary hegemony! This violent move downwards will be met by an even greater violent move upwards soon! Put on your space helmets for the coming moon shot!

    The Great Gold Deception and Misdirection! 
    by Stewart Dougherty, http://www.24hgold.com/  
    “Fascism should more properly be called corporatism, because it is the merger of state and corporate power.” – Benito Mussolini

    It would be fortunate for the western world, particularly the United States, if it were “merely” becoming a neo-fascist dictatorship. But since all life forces evolve, particularly those that are evil, the west is actually experiencing something far more pernicious: namely, a banksterist dictatorship, which is en route to something even worse.


    In Banksterism, the full arsenal of the state is deployed to preserve and protect one thing above all else: the power, wealth, influence and profits of banksters. It is only the crumbs left over after the banksters have gorged themselves at the money trough that are cast upon the dirt for everyone else to scavenge and peck upon. The problem is that history, and particularly recent history shows that banksters can never get enough. They are addicted to lucre, as if it were heroin. So in a banksterist dictatorship, capital is systematically plundered from the overall economy, causing it to weaken, and then die. This is when the covert totalitarianism of banksterism yields to overt, full-blown, state-sponsored military totalitarianism, better known as the Police State. The road to tyranny is paved with banksterism.

    The week of February 11, 2013 saw one of the most persistent, concentrated and vicious attacks on precious metals prices during the entire GENERATION -long bankster-orchestrated price rigging campaign. Prices suffered repeated, waterfall declines every single day, and often multiple times per day, on precisely zero news that might have explained them. In other words, these price raids were outright, collusive and pre-meditated slaughters, conducted one after another after another. As financial market experts know, such price action is totally unnatural and illogical; no legitimate, for-profit seller in their right mind dumps supply onto a market in this fashion, unless they know for a fact that their price raid will work, and continue to work. This is the case when the price manipulator controls the market. While we are told that price fixing is illegal, this is obviously false because certain well-connected elites get away with it whenever they want, and for decades at a time. If a cabal can manipulate a large, global market such as gold, it can steal staggering sums of money.

    Based on the elephantine, concentrated short positions in gold and silver held last week by the top eight cartel members, it is probable that they raked in profits of more than $1,000,000,000 (one billion dollars) in the gold futures market, and more than $450,000,000 (four hundred fifty million dollars) in the silver futures market price attacks. In total, they swindled nearly $1.5 billion dollars, in gold and silver futures alone, in one week alone, in the United States alone, by pushing a few computer keys and capturing the right regulators, who are trained and incentivized to look the other way. While zero true economic value was created by these price manipulations, $1,500,000,000.00 (1.5 billion dollars) flowed from the marketplace and into the already stuffed pockets of enormously powerful and well-connected banksters. This is the banksterist dictatorship right in the people’s face and flipping the bird at them. If you were long the metals last week, you learned who was in charge, and it wasn’t you, no matter how intelligent the investment rationale behind your position might have been.

    The $1.5 billion profit figure does not include additional shorting profits that were likely made in more opaque instruments such as options, futures on options and other synthetic derivatives. Nor does it include profits that were likely engineered in international metals markets, such as Tokyo, Sydney, Zurich, London, and the Caymen Islands. Nor does it include what must have been far greater profits derived from the shorting and naked shorting of mining equities, and the purchase of mining equity puts. All in all, the price rigging cartel surely made multiples of their $1.5 billion futures market windfall.

    read more!

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February 21, 2013 Posted by | Economics | , , , , , , , , , , , , , , | Comments Off on The Great Gold Deception and Misdirection!

David Rosenberg: Is there a Global Currency War? ‘Indeed, there is!’

No currency war! Yeah right! Only competitive currency devaluations!

No currency war! Yeah right! Only competitive currency devaluations!

  • Is there a global currency war? ‘Indeed,’ says David Rosenberg! 
    by Michael Babad, http://www.theglobeandmail.com/ 
    Currency war? The International Monetary Fund says there isn’t a global currency war, and the G20 says there won’t be one. But, says David Rosenberg, “indeed” there is.

    The chief economist of Gluskin Sheff + Associates was referring to the weekend meeting of G20 finance officials in Moscow, which he deemed to beuseless, as well as other recent developments.”

    The G20 meeting was predictably a waste of time and ended up doing little to quash concerns over emerging currency wars,” Mr. Rosenberg said today.

    The yen and even sterling took their cues from the ‘nude nudge, wink wink’ approach to foreign exchange manipulations.”

    Remember that last week, the G7 pledged no competitive devaluations of currencies, though it signalled its acceptance of weaker currencies that come as a result of measures aimed at bolstering economies. Which means government can’t targettheir exchange rates, though their currencies may weaken via other moves, such as asset-buying programs.

    “We reiterate that excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability,” G20 finance ministers and central bankers then said in their weekend statement.

    “We will refrain from competitive devaluation. We will not target our exchange rates for competitive purposes, will resist all forms of protectionism and keep our markets open.”

    IMF chief Christine Lagarde was then asked about this several times in a news conference, to the point, seemingly, of exasperation: “Zero currency war. Okay? That’s very simple. I have to say it again and I’ll be happy to repeat it as often as necessary.”

    There was much discussion of currencies in Moscow, she said, and worries. But no war. Methinks she doth protest too much? Mr. Rosenberg would appear to think so:

    Britain, he said, is “doing its utmost to weaken the pound (and its inflation mandate) and the expense of the rest of Europe.” The pound, he noted, is at a seven-month low amid the Bank of England’s higher tolerance of inflation.

    As for Japan, it is “purposefully weakening the yen at the expense of the rest of Asia (but the G20 decided that it is best to avoid addressing this.” The currency has dropped by 20 per in just over half a year, he noted.

    read more!

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February 21, 2013 Posted by | Economics | , , , , , , , , , , | Comments Off on David Rosenberg: Is there a Global Currency War? ‘Indeed, there is!’