Here is Mish's summary:
What We Know
- The US wants a lower Dollar
- Eurozone ministers want a lower Euro
- Japan wants a lower Yen
- The UK wants a lower British Pound
- Norway wants a lower Krone
- Brazil wants a lower Real
- China wants a lower Yuan
What We Also Know
The above is mathematically impossible in relation to each other The above is mathematically possible in relation to something else That something else is a currency untouched by central bank and political madness.
That something else is gold.
Mish is not alone in seeing the currency war developing. George Washington likens what is happening to the ruinous currency wars of the 1930s.
Mish has been a holdout against an inflationary end, believing (and I think I am stating him correctly) that a debt implosion will cause deflation that will lead us into a massive slowdown (Depression). I have felt the more likely lead-in is very high inflation, perhaps hyperinflation. The quote from Mish above sounds like an inflation warning.