Got Metals? IMF failed to Stop Currency War - Countries Plan on Devaluing their Currency! Gosh Watch Gold and Silver I am sure their response will be Interesting, to say the least!

2ND UPDATE 10/10/10 

Another article is out about the G20 not able to resolve the currency wars that is commencing... Very interesting statement made - in the article:

Portion:

Policy makers seemed to be trying to diminish concerns about currency wars,” said Steven Englander, head of Group of 10 currency strategy at Citigroup Inc. in New York. “There did not seem any commitment to change behavior, however. There is little to suggest that the dollar’s direction is anything but down.”

Wow, can't believe they allowed that to be printed, due to that being contrary to what the U.S. government and Fed and Treasury keep saying!

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Well it seems a full blown currency war may commence soon.  IMF failed to get countries around the world to see the light and not start one.  They totally Struck out!  All the countries want to stay competitive in exports of their goods.

I have ONE QUESTION FOR YOU...................................... GOT GOLD AND SILVER?

Article:

IMF efforts to intervene in the global currency war just struck out, according to breaking news from the AP.

The annual meeting in DC ended with no compromise or resolution, only a communique that pledged to "deepen" its work in the area of currency movements, including conducting studies on the issue.

This note essentially papered-over sharp differences between China and the US, according to the AP.

Here are some of the punches thrown earlier:

• China's Xinhua accused the US of being the currency manipulator and threatening the global recovery
• Canada's finance minister said China's policy was "dangerous because it leads to a crescendo of activities that are protectionist"
• And last night, Brazil's finance minister repeated warnings of a global currency war.

What happens next? The stage is set for quantitative easing in the US; China seems likely to respond; and the rest of the world will follow along.

UPDATE ARTICLE - 10/10/10 -

Finance Leaders from Around the World Call IMF to help with Currency Wars



Very small portion of article:

Developing economies that compose the Group of 24 this week said low interest rates in the advanced world have left them vulnerable to exchange rate appreciation and overheating. Brazil has already stepped up intervention in the currency market in a bid to prevent its currency, the real, from rallying. Polish central bank governor Marek Belka said capital inflows have the potential to “derail monetary policy.”

Chinese officials said they will stick to a gradual rise in the yuan’s value to avoid social turmoil.

“We are committed to a more flexible exchange regime,” People’s Bank of China Deputy Governor Yi Gang told reporters in Washington yesterday. “A more flexible, market-based, managed floating regime is better for China and is better for the rest of the world. But the approach is probably a gradual one.”

“It’s very unlikely that China will come on board because they already feel they’re unfairly singled out,” said Prasad, who used to head of the China division at the IMF.