{"id":1930,"date":"2014-11-22T08:47:20","date_gmt":"2014-11-22T13:47:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1930"},"modified":"2014-11-22T08:47:20","modified_gmt":"2014-11-22T13:47:20","slug":"charles-hugh-smith-have-central-banks-entered-an-undeclared-war","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1930","title":{"rendered":"charles hugh smith-Have Central Banks Entered an Undeclared War?"},"content":{"rendered":"<p><a href=\"http:\/\/www.oftwominds.com\/blognov14\/central-bank-war11-14.html\">charles hugh smith-Have Central Banks Entered an Undeclared War?<\/a>.<\/p>\n<p><span class=\"Apple-style-span\" style=\"color: #404040; font-family: Verdana; font-size: small; line-height: normal;\"><i>The monetary tectonic plates are shifting, and predicting the next global financial earthquake is relatively easy.<\/i><\/span><\/p>\n<p><b>I recently suggested that the devaluation of the yen was\u00a0<a href=\"http:\/\/www.oftwominds.com\/blognov14\/monetary-pearl-harbor11-14.html\" target=\"resource\">Japan&#8217;s Monetary Pearl Harbor<\/a><\/b>: a direct attack on the currencies of its major trading partners: the euro (European Union), the won (South Korea), the Australian dollar (AUD) and the U.S. dollar (USD), which affects both the U.S. and China since China&#8217;s currency, the renminbi, is pegged to the USD.<\/p>\n<p>Though there have been no overt (that is to say, public) counter-attacks,\u00a0<b>this may not reflect monetary peace so much as an undeclared war.<\/b>\u00a0Correspondent Mark G. observed that the current geopolitical backdrop is considerably more unsettled than the relatively benign global chessboard in 2008:<\/p>\n<p><i>&#8220;The Eurozone and the Pacific Rim now have a pair of regional wars being fought out primarily by financial and monetary means. We can infer that the major central banks won&#8217;t be anywhere near as cooperative during a crisis as they were in 2008.&#8221;<\/i><\/p>\n<p>While the American-European financial sanctions against Russia and Russia&#8217;s counter-moves are being waged in public, the public response of the Korean and Chinese central banks to Japan&#8217;s massive devaluation has been limited to grumbling.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>charles hugh smith-Have Central Banks Entered an Undeclared War?. The monetary tectonic plates are shifting, and predicting the next global financial earthquake is relatively easy. I recently suggested that the devaluation of the yen was\u00a0Japan&#8217;s Monetary Pearl Harbor: a direct attack on the currencies of its major trading partners: the euro (European Union), the won [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[124,130,188,284,694,834],"class_list":["post-1930","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-central-banks","tag-china","tag-currency-war","tag-european-union","tag-russia","tag-us"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1930"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1930\/revisions"}],"predecessor-version":[{"id":1931,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1930\/revisions\/1931"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}