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Gypsy
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Gold's Pivotal Role - The Yuan Sees Freer Convertibility this Year! (Part 1) - Julian D. W. Phillips - Gold Forecaster

Julian, the commonly accepted definition of Currency War is: Definition: Currency wars is a term coined by Brazil's Finance Minister Guido Mantega to describe the 2010 effort by the United States and China to have the lowest value of their currencies. Low currency values aid exports by making them cheaper in comparison to other currencies.

Your article, here, leads me to a much clearer definition. A Currency War describes an effort by ANY country to have it's currency UNIVERSALLY accepted as valuable everywhere in the world; as opposed to any other currency. If the US dollar and the Chinese Yuan were in a "real" currency "WAR": the Chinese would say they will no longer accept paper American dollars for Chinese goods ~ goods that are in high demand all over the world. That would be a war ! !

Your article gives me another insight I hadn't thought of before. Let's face it: if the world is actually looking for a "low value currency" then we would all be using Zimbabwe dollars.

Commented 4192 days ago

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Beginning of the headline :China has signaled it is going to propose plans this year to allow freer flows of the Yuan both in and out of the nation as part of measures to loosen control over the Yuan and interest rates. It was expected that full and free convertibility after 2022, but it's clear that the program is moving at an accelerated pace. How far this next phase of convertibility will go has to be seen at the end of this year.It's understandable that the process will be gingerly handled so as to dovetail into the c... Read More

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