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Currency Wars

The future of the euro and other currencies

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Comments from Jim Rickards

The Fed announced that it would extend Operation Twist to try to keep long-term interest rates low -- selling short-dated Treasuries and buying long-term ones. RT says this is just more arm-twisting. Where do we go next? asks the host.

Meanwhile, in competitive devaluation, or a "currency war," nation-states engage in conflict to against each other to ensure low exchanges rates for their respective currencies.