Found via csinvesting.
For those of you who have read the previous Annual Report messages of our company you will know that I have been concerned about a global currency war outbreak for some time. But in particular, my reference to James Rickards and his book, ”Currency Wars”, in last year’s review. Well today, one year later, we remain living in the biggest debt bubble in the history of the world and the evidence of currency wars is beginning to be very globally evident. The use of excessive monetary stimuli and artificial ultra low interest rates are creating the ultimate “bubble” in money itself. Central banks – while quietly increasing their gold holdings – are also creating the money bubble. We now are in the biggest debt bubble in history. Country leaders know that each time that they face deflationary forces they require offsetting inflationary forces (monetary stimulus of some form); and they are required to become even more aggressive. The necessary avoidance of the deflationary waves that the world is facing is causing the incubation of the coming wave of future inflation. Most conventional economists do not really accept the lack of “global demand pull” and the yet inflationary moves that will likely be felt.