dailyreckoning.com.au / By Dan Denning / January 22nd, 2013
Yesterday we vowed to tell you who the real protagonists and antagonists are in this global currency war. It’s a long answer. And of course it’s debatable. But we’ll begin with just one part of it today: they’re not who you think they are.
This is not really a battle between separate nations all trying to out-compete each other through devaluation. Describing it that way is what sells newspapers and gets people all fired up. But the real battle is between the people who want to control the world’s financial system for their maximum benefit…and the rest of us who have to live with the consequences of their financial repression.
Whether you’re a banker or a central planner, controlling the money is a way of accumulating power. You have the power to change prices and reward or punish the long-term planning decisions of millions of individuals. You also tend to get first-use of money before it’s devalued. Purchasing power problems are for the little people, who must deal with all the negatives of globalisation.
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