In 2009, the G20 agreed not to pursue competitive currency devaluation, a view “analysts” at the time believed would make it easier for individual countries to weaken their currencies to support their economies. The joint statement issued at the end of the 2009 meeting said the states ”will refrain from competitive devaluation of our currencies and promote a stable and well-functioning international monetary system.”
Now, nearly four years later, it is clear that major economies in the G20 have abandoned the promise, pursuing instead, in concert, monetarist policies, as the US has embarked upon a QE Infinity type deal. Since critical major economies have abandoned the policy, and nations the world over are announced qe policies, the effects on each individual currencies on the waydown are lowered. (Read more…) As is seen below with, most pointedly, the US dollar. Despite the aforementioned QE program, it remains a volatile, yet unmoved currency.
The Euro Zone has been straddled by crisis, and has devalued its currency while digging deep into Germany’s Treasury so as to ensure the political project remains.
Great Britain has been impressively aggressive in its race to the bottom, printing away for most of 2012 and before. The Pound has regained very little since the 2008-2009 banking crisis, which saw the GBP fall off hard.
While relatively calm when viewed within the context of each other falling precipitously through the ether of fiat atmosphere, when looked at it terms of their antithesis in real money – gold and silver- the aforementioned charts tell a different story. They tell of precipitously falling currencies, whose certain decline are only being masked by manipulative and coordinated governments and bankers.
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[VIA Silver Vigilante]