China Central Bank Says It Is “Fully Prepared For Looming Currency War”!

• The world is heading towards a global currency meltdown. All fiat currencies are going down the toilet bowl of currency debasement. The Illuminists want to destroy all fiat currencies to lay the foundation for their One World Currency backed by gold and Global Supra-National Central Bank! Got physical gold yet?
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  China Central Bank Says It Is “Fully Prepared For Looming Currency War”! 
  by Tyler Durden, http://www.zerohedge.com/ 
  Just in case Lagarde (and everyone else except for the Germans, who have a very unpleasant habit of telling the truth), was lying about that whole “no currency war” thing, China is already one step ahead and is fully prepared to roll out its own FX army. According to China Times, “China is fully prepared for a looming currency war should it, though “avoidable,” really happen, said China’s central bank deputy governor Yi Gang late Friday.” We look forward to the female head of the IMF explaining how China is obviously confused and that it is not currency war when one crushes their currency to promote “economic goals.” Of course, that same organization may want to read “Zero Sum for Absolute Idiots” because in this globalized economy any attempt to promote demand (by an end consumer who has no incremental income and stagnant cash flow) through currency debasement has no impact when everyone does it. But then again, this is the IMF – the same organization that declared Europe fixed in 2009, 2010, 2011, 2012, 2013 and so on.
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  More on China’s FX troop deployments:
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  Yi, vice governor of the People’s Bank of China, made the comment amid widespread concerns that the world’s major economies would drive down their units to gain a trade advantage through monetary easing policies.
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  A currency war could be avoided, Yi said, if policymakers in major countries observed the consensus, reached at the recent G20 meeting, that monetary policy should primarily serve as a tool for domestic economy.
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  G20 members promised that they would not wage a currency war, but none have shown signs of scaling back monetary easing that has injected a flood of cash into global markets. They worry that removing the stimulus will plunge their economies into another recession.
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  “China is fully prepared,” Yi said. “In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks of foreign countries.”
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  read more!

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