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First Shots Are Fired in Global 'Currency War'

Faced with a stubbornly slow and uneven global economic recovery, more countries are likely to resort to cutting the value of their currencies in order to gain a competitive edge.

Japan has set the stage for a potential global currency war, announcing plans to create money and buy bonds as the government of Prime Minister Shinzo Abe looks to stimulate the moribund growth pace. (Read More: Japan PM Says BOJ Must Set 2% Medium-Term Inflation Goal)

Economists in turn are expecting others to follow that lead, setting off a battle that would benefit those that get out of the gate quickest but likely hamper the nascent global recovery and the relatively robust stock market.

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Nothing to see here.

Don't worry about this, we are busy debating gun control. I mean, I realize that in the last 100 years, the gun debate has gone nowhere, meanwhile our currency has continued to plummet, however, this is no reason to concern ourselves with the currency issue. Surely the government wouldn't be distracting us with an age old gun debate while quietly destroying the dollar.

Free market capitalism isn't right for America because it works better. It's right because it's free (and it works better).