The US is devaluing the dollar to boost exports and improve the economy, says investment manager and author of Currency Wars, James Rickards. But the devaluation comes at the expense of other countries. And they fight back by devaluing their own currencies. Hence the currency war.
"Currencies are in effect the ocean" that all the fish, including the great white shark, fear, he says. Sometimes the ocean is calm, but in times like ours it becomes a much more hostile and dangerous environment. Find out how currencies interact globally and why governments manipulate them so much, in this video.