The Digital Currency Wars Have Begun

Are you ready for the digital arms race? July 01, 2022 [UNSUBSCRIBE]( | [WEBSITE]( [Altucher Confidential] “Recently, Biden ordered the U.S. dollar to be replaced with a new kind of money. The problem, says Rickards, is this “new money” amounts to little more than a full-blown global surveillance system.” [HERO IMAGE] The Digital Currency Wars Have Begun By Chris Campbell URGENT: Intelligence Briefing [Read more here...]( When I began to circulate my thesis of an impending market meltdown in 2006... Washington failed to warn the American public of what was to come. That’s why I’m reaching out to you directly with [my latest thesis and intelligence briefing.]( The cracks in the financial system are already starting to show... With major indices down 20% from their peaks. However... This is just the beginning. So please, [click here to view this intelligence briefing before its too late.]( Currency wars. A decade ago, barely anyone knew what that phrase meant. Today, on the other hand, hardly a week passes by that I don’t see it plastered on the front page of some mainstream rag. Like the Washington Post this week… [IMG 1] Or Bloomberg… [IMG 22] Or this one from Barron’s… [IMG 3] Or this one from MSN… [IMG 4] It’s no surprise, then, that — out of Jim Rickards’ five published books — the oldest one, Currency Wars, published in 2011, is his current biggest seller. Back then, currency wars were still a pretty abstract idea. Now, they’re an obvious day-to-day reality. But, What Is It? A currency war is also known as “competitive devaluation.” (But the latter doesn’t quite roll off the tongue, does it?) Put simply, it’s when countries seek to gain an advantage over other countries by deliberately devaluing their currencies. As the exchange rate plummets, exports become more competitive, and imports become more expensive. In the short term, this can benefit domestic industry and boost employment, but there are obvious trade-offs: the citizen’s purchasing power takes a hit and it exports unemployment to trading partners, causing friction. As Rickards put it back in 2011: “Printing dollars at home means higher inflation in China, higher food prices in Egypt and stock bubbles in Brazil. Printing money means that U.S. debt is devalued so foreign creditors get paid back in cheaper dollars. The devaluation means higher unemployment in developing economies as their exports become more expensive for Americans. The resulting inflation also means higher prices for inputs needed in developing economies like copper, corn, oil and wheat. Foreign countries have begun to fight back against U.S.-caused inflation through subsidies, tariffs and capital controls; the currency war is expanding fast.” Attention! Before You Read Any Further… [Click here for more...]( it’s James. Before you read any further in today’s issue, an urgent situation needs your immediate attention. If you don’t plan on claiming this upgrade to your Altucher’s Investment Network subscription, you’re missing out on a huge opportunity. Right now is your chance to grab one of the biggest (and most valuable) upgrades our company has ever made to a newsletter. I’m taking Altucher’s Investment Network to an entirely new level and I’d hate to see you left behind. [To see how to claim your upgrade, just click here now.]( Skirmish to War This is how a currency battle becomes a currency war. When a country devalues its currency, it motivates other countries to do the same, leading to a decline in international trade, ultimately harming everyone in the long-term. The last big currency war was in the 1930s, during the Great Depression. Countries started ditching the gold standard and, in an attempt to stimulate their economies, began devaluing their currencies. Trading partners retaliated by doing the same. Our own currency war has been raging since 2010. Since, governments have used every tool in their arsenal: government intervention, capital controls, Quantitative Easing, and more. But these tools have long hit the point of diminishing returns. The Big Pivot Governments around the world are now pivoting their attention to a new type of tool — a digital currency. The attraction to a digital currency is obvious: Centralized digital currencies offer TOTAL control over all aspects of the financial system. To make matters even more complex, however, these governments and their digital currencies are no longer just competing with one another. They’re also competing with private and decentralized currencies around the world. But, of course, the world’s reserve currency — the dollar — won’t fade away without a fight. According to Rickards, the Biden administration has something up its sleeve. Recently, Biden ordered the U.S. dollar to be replaced with a new kind of money. The problem, says Rickards, is this “new money” amounts to little more than a full-blown global surveillance system. The digital currency wars have begun. Are you ready? [Click here to learn how to survive and thrive in the NEW roaring 20s.]( Until next time, [Chris Campbell] Chris Campbell For Altucher Confidential Biden’s Plan to Confiscate Your Cash? [Click here for more...]( March 9, President Biden quietly signed Executive Order 14067. This Order could pave the way for Democrats holding onto power in 2024. In fact, they could control America indefinitely. A former advisor to the CIA and Pentagon believes this order could allow for legal government surveillance of all US citizens; total control over your bank accounts and purchases; and the ability to silence all dissenting voices for good. 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