While the G-20 and the G-7 haggle among each other,
all (with perhaps the exception of France) desperate to make it seem
that Japan’s recent currency manipulation is not really manipulation,
and that the plunge in the Yen was an indirect, “unexpected” consequence
of BOJ monetary policy (when in reality as Richard Koo explained it is merely a ploy to avoid the spotlight falling on each and every other G-7/20
member, all of which are engaged in the same type of currency wars
which eventually will all morph into trade wars), Europe’s energy
powerhouse Norway quietly entered into the war. From Bloomberg:
“Norges Bank is ready to cut interest rates further to counter krone
gains that interfere with the inflation target, Governor Oeystein Olsen
said. “If it gets too strong over time, leading to inflation that’s too low, we will act,” Olsen said yesterday in an interview at his office in Oslo.Continue Reading at ZeroHedge.com…
Please bookmark us
No comments:
Post a Comment