President Barack Obama will host Japanese Prime Minister Shinzo Abe for talks in Washington Friday. Meanwhile, Japan’s aggressive moves to devalue the yen have been at the center of fears over “currency wars,” which the G20 hoped to dismiss once and for all Saturday. The group of 20 major developed and emerging nations issued a commitment to refrain from competitive devaluations at their meeting in Moscow.

Related: Bank of Japan Reignites Currency War Debate

Trends forecaster Gerald Celente isn’t taking the bait.

“We’re in a currency war,” Celente, the editor and publisher of the Trends Journal, tells The Daily Ticker. “Who are they kidding?"

“The only reason world economies are doing anything is because of all the cheap money they’re dumping into the system,” he adds. “But they don’t call it currency wars, they have ‘white shoe boy names’ for them.”

Those "names" he refers to include central bank bond purchasing policies like the Fed’s Quantitative Easing and Europe’s Outright Monetary Transactions (OMT).

While some argue the potential for a currency war is just one possible byproduct of unconventional central bank polices, which are likely to continue, Celente sees it differently.

Related: Equity Prices Are Artificially High — It’s Time to Take Profits: PIMCO’s El-Erian

“I see this as a replay of history,” he says. “I see this as a lead up to world war.”

The history he references is the Crash of 1929, followed by the Great Depression, currency wars, trade wars, then World War. He sees the parallel today being the “Panic of ‘08,” followed by what he believes is a “depression” in some regions (e.g. Spain, Greece, parts of the U.S.). He sees the current currency policies as the currency wars that lead to trade wars, eventually leading to all out war.

In the context of current monetary policy, Celente believes the U.S. Dollar will be just another debased currency.

Related: Don’t Fight the Fed but Its Monetary Policy is Wrong: Michael Pento

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