World gripped by 'international currency war'

Well, look at the bright side: With our spend, spend, spend, print, print, print routine in the gov-fed dualististic disaster train, we should be keeping right up with the competitiveness for currency devaluation. lol

Sigh....

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.

Continued:

www.guardian.co.uk...

the problem with their plan is the over all cost of goods and services remain the same...
the only thing that happens is you have to fork over more cash to get the same things...

Here is the first step towards Hyperinflation... Yup I remember when a mexican peso was 2,000 to 1 USD... it didn't make their goods cheaper...