More currency news, this will be a struggle since the entire world is wrapped up in fiat currency. Could it all end in one world currency?
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World gripped by ‘international currency war’
The world is in the midst of an “international currency war” according to Brazil’s finance minister as governments force down the value of their currencies to boost their struggling economies.
The comments are the first public admission made by a senior policymaker about a practice which has become increasingly widespread since the global economic downturn.
Many countries, notably China, have been deliberately weakening their currencies by selling them on foreign exchanges or keeping interest rates artificially low to make their exports cheaper.
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