Frameworks, benchmarks, generalities and hypothetical’s without specifics and enforcement seemed to sum up the G20 meeting over the weekend but that description can usually be applied to any G meeting. Avoiding ‘competitive devaluations’ on the part of US trading partners just give a green light to another move lower in the US$ as everyone there knew the elephant in the room was Federal Reserve policy in terms of its FX impact and no one other than the German economic Minister challenged it. He said “it’s the wrong policy way to try to prevent or solve problems by adding more liquidity. Excessive, permanent money creation in my opinion is an indirect manipulation of an exchange rate.” Also helping the reflation trade was a 2.6% rally in the Shanghai index to a fresh 6 month high and copper is following to the highest since July ’08.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.