...Promptly Followed By Brazil

Tyler Durden's picture

The first global currency wars are now delcared fully open. Participation for all non-gold standard backed countries is mandatory.

BN  11:47 *BRAZIL CENTRAL BANK TO BUY DOLLARS IN SPOT CURRENCY MARKET
BN  11:47 *BRAZIL CENTRAL BANK TO BUY DOLLARS 3:46-3:51 P.M. LOCAL TIME

http://www.myconfinedspace.com/wp-content/plugins/wp-o-matic/cache/a2d56_its-on-like-donkey-kong.jpg

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Hephasteus's picture

The currency markets should be a complete shambles by october 7th.

callistenes's picture

Perfect timing:

United States Mint to Issue 2010 American Eagle Gold Proof Coins October 7

http://media-newswire.com/release_1127825.html

 

Hephasteus's picture

Uh ya. Wouldn't count on that. LOL

RichardENixon's picture

Maybe the plan is to issue, sell and then confiscate.

StychoKiller's picture

Sounds like a good Birthday present -- for me!  Buy me some, I'll send ya that shipping address.

Arkadaba's picture

I already linked to this in another comment but because I think it is one of best analysis I have read in a long time and gives a global context for the currency wars, I am relinking:

http://ampedstatus.com/the-road-to-world-war-iii-the-global-banking-cartel-has-one-card-left-to-play

Long read but worth it. Came across it on http://jessescrossroadscafe.blogspot.com/

tmosley's picture

Sweet.  I can buy more gold and silver using the sweat of some brown person's back.

Azannoth's picture

True, they willingly give up their unique position to be the next World dominators, and instead fly like a moth into the fire, stupid is as stupid does, no mercy !

tmosley's picture

The next world dominators will be the ones who have the highest (population / the lowest government spending as a percent of GDP).

China gets a 6.6 billion by that measure.  USA gets a 820 million.  India gets 4 billion.

For reference, the USA had a score of 3.8 billion in 1900.

Azannoth's picture

China wants to implement universal health care, they are a totalitarian state after all, they cant allow the popluation to get too disgruntled, they will spend, their world domination will last even shorter than the USA, as soon as the technology/innovation transfer ends and competition(USA) goes awy they will immidieatly go into decline. I am guessing that in 50-100 years a new 'USA' will emerge(and not necessarily on the American continent) and it wont be China, after WW3 which will surely happen in the next few decades all the smart refugees will flock to 1 place(hard to say where) and youll get the New America

tmosley's picture

If they do such things, their score will go down, and they will ruin their chances.  The same way that the Brazilians are ruining theirs with currency interventions (which is by definition spending). 

Smaller nations can become great powers, like England, and even like the US, but only if they have very low spending proportional to the size of their economy.

Miramanee's picture

ALL fiat currencies eventually collapse. They MUST, as ALL currencies are inflated by political leaders in an effort to keep the masses from denying the rulers the MANDATE OF HEAVEN. The Chinese leadership know this, they know that their reign is finite under current conditions, and they will change the conditions IN ANY WAY NECESSARY in order to maintain the Mandate of Heaven. Hmmmmm....war with Japan will work.

SheepDog-One's picture

No, the next world dominators will clearly be rap musicians due to the sheer weight of their gold bling and grills.

Praetor's picture

Where the word "bitchez" will become mandatory in every sentence.

MayIMommaDogFace2theBananaPatch's picture

As if this is not already the case, bitchez.

LostWages's picture

Does this count as a Brazilian wax job?

I'll be on the lookout for Brazilian bottoms!

Clark_Griswold Hedge Mnger's picture

 Well its not really significant until Zimbabwe joins in

Pillage's picture

How much clout are these countries putting behind the buys? Are they capable of bidding up the dollar for more than a short term pop? I read earlier that Brazil says it has unlimited ability to buy dollars through debt sells can this turn the tide against the bastard that's insistent on destroying American buying power?

Internet Tough Guy's picture

Bernanke infinte printing vs Brazil infinite buying. The irresistable force meets the immovable object.

sethco's picture

Brasil action is a bit more weighty than Peru...

Hansel's picture

Instead of this currency war being about who has the strongest currency, who is buying the most gold, this is about devaluing each's own currency by buying a more worthless currency.  FULL RETARD.

RichardENixon's picture

You ever see "Digging to China"?

Haywood Yablomi's picture

Can somebody explain to me how currency manipulations are any different than tariffs?  Or why tariffs are bad, but currency manipulation is good.

Thanks!

 

Ragnarok's picture

Don't look at it from your perspective it won't make any sense.  Look at it from a Banker/Multinationals perspective and it will all be crystal clear.

Cognitive Dissonance's picture

The coalition of the willing........to debase.

Cognitive Dissonance's picture

Oh oh, somebody woke up Cheeky. :>)

Hey Cheeky, Velobabe aka Kathy has been calling out your name for weeks. Please, do something with her. She likes it when you talk all manly and dirty.

hedgeless_horseman's picture

Please, do something with her.

Double glove.

ZeroPower's picture

The 'ol Jersey Meat Hook comes to mind.

PhattyBuoy's picture

I like Kathy - why are you guys always picking on her?

Cognitive Dissonance's picture

Velobabe....er...Kathy, is that you? :>)

MayIMommaDogFace2theBananaPatch's picture

Double glove.

I'd like to nominate this for funniest post of the week.

(be sure to get some video)

Howard_Beale's picture

Is that Kathy Chamberlain CD? The ultimate irritant? Yes, please Cheeky--do something with her.

Careless Whisper's picture

i think cheeky gonna be busy this weekend watching fernando alonso win the singapore grand prix.

UncleFurker's picture

Huh? Ferrari's found a new way to cheat?

 

kathy.chamberlin@gmail.com's picture

got pole position for f e r r a r i

merehuman's picture

let velobabe be, she makes some of you guys look smart. Be thankful she drinks. No telling what she might say if sober.