Global Currency Wars – In The Trenches

Global Currency Wars – In The Trenches

Donald Trump spent a good bit of time tweeting about monetary policy and currencies this week ahead of the September Fed meeting and in response to the ECB's renewed stimulus push. Among other things, Trump called the Fed "boneheads", demanded negative rates and accused the ECB of "trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting US exports". The president's musings on FX and rates are now a daily occurrence, which leaves market participants in a state o
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One thought on “Global Currency Wars – In The Trenches

  1. General hitler, in the war room plotting with his smallish eunuchs, on how to manipulate currencies in some clever yet stupid plot twist that extends the outlandish trade drama towards the next absurd scene. As the next curtain rises, we are reminded of the prior act to undermine the Fed chair and spew-out verbal abuse, bullying from the pulpit and working to fire up the hillbilly hoards, whom collectively chant for zero rates, which of course will make America into The Greatest Cotton Plantation in Earth!!

    But in that sequence, as that pile of feces failed to permanently stick to the wall and impact reality, the evil witches maintained a sense of pressure, prompting The Boneheads to do something (anything) to MAGA — which sets up Plan B (scene B3) which is for the Treasury to come out on the world stage in elaborately designed kabuki costumes, eye-catching make-up, outlandish wigs — to speak crazy thoughts and to embody the spirit of insane ancient beings that were thought to be dead (forever). The threat within this new drama will be to spook markets and add-in additional chaos, using the prop of a cell phone and a tweeting connection, which helps move the drama to a heightened state of uncomfortable stupidity, as we watch the characters on stage soil themselves, as they vent their emotional pleas and demands. Crying and screaming for peace and justice, sobbing hysterically, tears flooding ever tweet.

    This interlocking plot is supercharged by various other concurrent dramas, like ECB pouring more money down a rat hole (sink hole?) in order to help lower bond yields and help their currencies rise towards their heavens, with hopes too that they will also Make their Country Greater Than Ever Again.

    In time, audiences will become more involved …

    See: The kabuki stage features a projection called a hanamichi (花道, “flower path”), a walkway which extends into the audience and via which dramatic entrances and exits are made. Okuni also performed on a hanamichi stage with her entourage. The stage is used not only as a walkway or path to get to and from the main stage, but important scenes are also played on the stage. Kabuki stages and theaters have steadily become more technologically sophisticated, and innovations including revolving stages and trap doors were introduced during the 18th century.

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