In a wider historical perspective, the current currency war is the latest conflict in a series of acute crises of the modern international monetary system. In a world of national monetary regimes based on fiat money without physical anchors, domestic monetary instability automatically transforms into exchange-rate instability. FULL ARTICLE by Antony P. Mueller
Source link: http://archive.mises.org/15789/whats-behind-the-currency-war/
What’s Behind the Currency War?
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