Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
The global recession is forcing many countries to consider a drastic measure to kick start economic recovery including cutting the value of their currencies.
Expert economists are predicting this could lead to a global “currency war.”
Japan has spurred the fears that an economic war could begin by announcing plans to create money and buy bonds in an attempt to bring 2% growth to the Japanese economy. If that happens, economists expect other countries to do the same thing in an attempt to keep Japan from a market advantage.
The decline in a currency can help a country’s exports, as it would allow other nations to purchase products at a lower price than competitors in other countries. The increase in exports would then drive a baseline recovery for the national economy.
Economists expect very little growth in the world economy in 2013.
Jason,
Canada has been in the same situation and the exporters like a lower dollar value.
I sense it will get a lot worse very soon.