Currency Wars

The currency wars are intensifying. The central banks of the world are becoming increasingly desperate in their efforts to bring growth back and maintain some sort of financial stability. Alas, both objectives no longer seem to be achievable at the same time anymore. Massive amounts of liquidity have been injected into the system through continuous rounds of quantitative easing. Despite these bold exertions, economic growth remains elusive and investors are becoming progressively apprehensive. The Bank of Japan officially introduced negative interest rates […]