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Bloomberg/Mark Gilbert and Marcus Ashworth/9-2-3-2020
“‘It’s our currency, but it’s your problem,’ John Connally, Richard Nixon’s treasury secretary, told the world in 1971. Four decades later, the dollar’s weakness threatens to incite a full-blown currency war that could distract policymakers from their key task of mending the post-pandemic global economy.”
USAGOLD note: In a currency war, unlike the military variety – in this case the dollar vs. the euro – it is the loser that gets the spoils (not the winner) and the territory gained is greater exports. Bloomberg says the dollar will be the winner in this war – or is that loser?