“Today we are practically living a trade war, a currency war because the exchange rate today is one of the important factors to determine the competitiveness or not of products. Generalized currency depreciation in my view is an explicit strategy used by countries and that threatens us.”

— Guido Mantega

Speech at the seminar " The Role of Industry in the Growth of Brazil https://www.fazenda.gov.br/divulgacao/noticias/2010/setembro/governo-nao-pretende-taxar-investimentos-estrangeiros-diz-mantega" organized by the Getulio Vargas Foundation, September 27, 2010

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Today we are practically living a trade war, a currency war because the exchange rate today is one of the important fac…" by Guido Mantega?

Guido Mantega 1

Brazilian economist 1949

Related quotes

“Faced with the difficulties of unilateral reflation, some socialists are tempted to seek salvation through trade restrictions or competitive devaluation. But such beggar-my-neighbour policies, if pursued on the scale required…are more likely to lead to a trade and currency war than to insulate their sponsors from the recession in the outside world.”

Denis Healey (1917–2015) British Labour Party politician and Life peer

Speech to the twelfth congress of the Confederation of Socialist Parties of the EEC in Paris (12 November 1982), quoted in The Times (13 November 1982), p. 3
1980s

“If the world as a whole returned to the gold standard there would be such fluctuations in the value of gold that it would very soon prove impractical.
Today an international gold standard could only mean that a few countries would maintain a real gold standard. The other countries would hang on to the system through a gold exchange standard — where the currency isn't really redeemable in gold but the government attempts to keep a fixed rate between its currency and gold.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

1980s and later, Interview in Silver & Gold Report (1980)

“…it’s important to remember how fortunate we are as a country to have a currency and a bond market that is seen in every way as a source of strength and it’s a huge responsibility for us to keep it that way.”

Lawrence H. Summers (1954) Former US Secretary of the Treasury

Tom Braithwaite (April 9, 2009) "Summers sees end to ‘sense of free-fall’" http://www.ft.com/cms/s/0/f4f1ac1c-2537-11de-8a66-00144feabdc0.html?nclick_check=1, Financial Times
2000s

“The US owes the world. The US "superpower" cannot even finance its own domestic operations, much less its gratuitous wars except via the kindness of foreigners to lend it money that cannot be repaid.The US will never repay the loans. The American economy has been devastated by offshoring, by foreign competition, and by the importation of foreigners on work visas, while it holds to a free trade ideology that benefits corporate fat cats and shareholders at the expense of American labor. The dollar is failing in its role as reserve currency and will soon be abandoned.When the dollar ceases to be the reserve currency, the US will no longer be able to pay its bills by borrowing more from foreigners.”

Paul Craig Roberts (1939) American economist

"A Bankrupt Superpower," CounterPunch (2008-03-18)

“Tangibles trump conceptuals. Modern fiat currencies are generally accepted, but have essentially no backing. Because they are largely a by-product of interest-bearing debt, modern currencies are destined for inflation. In the long run, inflation dooms fiat currencies to collapse. The majority of your assets should be invested in productive farmland and other tangibles such as useful hand tools. After you have your key logistics squared away, anything extra should be invested in silver and gold.”

James Wesley Rawles (1960) Survivalist-fiction author and blogger

Source: How to Survive the End of the World as We Know It, Plume, New York (2009), p. 14

“Let us not be deceived — we are today in the midst of a cold war.”

Bernard Baruch (1870–1965) American businessman

Speech to the South Carolina Legislature, Columbia, SC (16 April 1947); Baruch said that the phrase "cold war" was suggested to him by H. B. Swope, editor of the New York World; the term had earlier been used by George Orwell (1945)
Context: Let us not be deceived — we are today in the midst of a cold war. Our enemies are to be found abroad and at home. Let us never forget this: Our unrest is the heart of their success. The peace of the world is the hope and the goal of our political system; it is the despair and defeat of those who stand against us.