- Source, Jim Rogers via Birch Gold Group:
Saturday, December 28, 2013
Nobody Ever Wins in a Trade War
The first thing you need to know is that nobody ever wins a trade war, a currency war, which is just another kind of trade war. Everybody loses in the end, some may temporarily come out ahead but it’s temporary if nothing else. As you have pointed out, the cost of living of many people is going up, and it certainly is, my gosh, in Japan you have a currency that’s down 25% in a year. Well I assure you the Japanese are feeling that because everything that Japan imports has gone up fairly substantially AND even the things that they don’t import are up because the Japanese manufacturers and the Japanese producers can raise prices because they don’t have to worry about competing with the foreigners any more.
at 5:34:00 PM