{"id":13117,"date":"2013-02-13T10:43:04","date_gmt":"2013-02-13T17:43:04","guid":{"rendered":"http:\/\/www.itmtrading.com\/?p=13117"},"modified":"2013-02-18T11:56:18","modified_gmt":"2013-02-18T18:56:18","slug":"currency-wars-yield-currency-collapse","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/currency-wars-yield-currency-collapse\/","title":{"rendered":"Currency Wars Yield Currency Collapse"},"content":{"rendered":"<p>There has been much talk of late regarding <strong>Currency Wars<\/strong> and skirmishes. The objective of a <a href=\"http:\/\/www.itmtrading.com\/iran-currency-war\/\">currency war<\/a> is to manipulate and weaken the currency in order to stimulate growth. Whatever the outcome may be it is the consumers who pay the real cost of the resulting inflation. \u00e2\u20ac\u0153Anybody who believes there is no inflation isn\u00e2\u20ac\u2122t shopping,\u00e2\u20ac\u009d said Peter Schiff, The CEO of Euro Pacific Capital in New York.<\/p>\n<p>Consumers know that two of the biggest contributors in the daily cost of living are food and energy. However, some time ago those items were conveniently deleted form the official government cost-of-living indexes supposedly to make the number more tolerable to the unsuspecting and gullible consumer.<\/p>\n<p>Indeed, Mr. Schiff refers to the consumer price index as a \u00e2\u20ac\u0153total fraud. Consumer prices in the U.S. are moving up much faster than indicated by the CPI. It is manipulated. It is deliberately designed to mask inflation, not report it,\u00e2\u20ac\u009d he said at the Inside ETFs conference produced by Index Universe.<\/p>\n<p>\u00e2\u20ac\u0153There is a currency war going on,\u00e2\u20ac\u009d Schiff remarked. \u00e2\u20ac\u0153The irony of a currency war which makes it different from other wars is the object is to kill itself. Unfortunately, I think the U.S. is going to win the currency war.\u00e2\u20ac\u009d<\/p>\n<p>\u00e2\u20ac\u0153We\u00e2\u20ac\u2122re broke. We owe trillions. Look at our budget deficit, look at the debt to GDP (ratio), the unfunded liabilities,\u00e2\u20ac\u009d Schiff said. \u00e2\u20ac\u0153If we were in the euro zone they would kick us out.\u00e2\u20ac\u009d<\/p>\n<p>\u00e2\u20ac\u0153The Fed knows that the U.S. economy is not recovering,\u00e2\u20ac\u009d he said. \u00e2\u20ac\u0153It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode.\u00e2\u20ac\u009d<\/p>\n<p>Mr. Schiff, who is a long-time supporter of gold, feels gold will be the big winner and that the consumer, with no gold, will be the big loser in the currency wars.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been much talk of late regarding Currency Wars and skirmishes. The objective of a currency war is to manipulate [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[45,59,83],"class_list":["post-13117","post","type-post","status-publish","format-standard","hentry","category-blog","tag-debt","tag-gold-2","tag-inflation"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/13117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=13117"}],"version-history":[{"count":2,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/13117\/revisions"}],"predecessor-version":[{"id":13194,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/13117\/revisions\/13194"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=13117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=13117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=13117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}