Huntington was right. The global trading system is under pressure. Major currency views...

Back in February, in our monthly Global Investor, we said this is not your normal recession.  It is very much a "balance sheet" recession similar to the Great Depression and why we then believed it was possible the US would slip back into recession in 2012.  But there seems to be more at stake since the end of the free-credit era ended with the credit crunch four years ago.  It seems globalization is under severe pressure not just from the usual economic stuff, but also from rising tensions across cultures.   

Currency Currents 10 October 2012