The conditions that give rise to currency wars are too much debt and too little growth.
World Wide we have the highest debt of all time on every measure and we’ve not had real wage growth for decades. People have for the most part given up hope for doing better than their parents.
Currency wars, attempts at gaining a temporary advantage over other currencies by attracting financial investment, are zero sum games and lead to Trade Wars.
Been going on for years
Trade Wars, attempts at gaining a temporary advantage over other countries financially, through tariffs and such, are zero sum games and lead to Shooting Wars.
Nationalism, Protectionism, Parties over Nations, Polarized Ideologies, Populism, an extreme Moral Crisis!
Shooting Wars, like those that killed hundreds of millions of people in the 20th century, will be much worse next time and seem inevitable.
The major powers are all increasing the size of their nuclear arsenals and capabilities…..
And even with all of the resources and information available at the touch of our fingers, critical thinking, freedom of speech and civility are vanishing before our eyes!