Thursday 31 October 2013

Cliff Küle's Notes:

Cliff Küle's Notes
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Oct 31st 2013, 23:04, by noreply@blogger.com (Cliff Küle)

U.S. Treasury Blaming
Germany, China, Korea
For Currency Wars
"Based on the analysis in this report, Treasury has concluded that no major trading partner of the United States met the standard of manipulating the rate of exchange between their currency and the United States dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade as identified in Section 3004 of the Act during the period covered in the Report. Nonetheless, Treasury is closely monitoring developments in economies where exchange rate adjustment is incomplete and pushing for comprehensive adherence to recent G-7 and G-20 commitments. Treasury will continue to monitor closely exchange rate developments in all the economies covered in this report, with particular attention to the need for greater RMB appreciation, and press for further policy changes that yield greater exchange rate flexibility, greater transparency on intervention, a more level playing field, and support for strong, sustainable and balanced global growth."
[Cliff Note: Jim Rickards* (and others) says the U.S. is the world's biggest currency manipulator - LINK HERE.][Another Note: You can get the report by simply hitting the enlarge box at the bottom .. download at the link immediately below. There are usually 2 or 3 ways to get & enlarge the Scribd reports we bring you. Don't think like the reader who wrote to say these are too small to read. They are intended to be enlarged!]
LINK HERE to download report in PDF

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