The European Central Bank's rollout of quantitative easing is a declaration of a trade war, CNBC's Jim Cramer said Thursday, predicting that the dollar and euro will soon be at parity.
Cramer made his remarks shortly after ECB President Mario Draghi provided more details about the central bank's 1.1 trillion euro quantitative easing plan. The program will start on Monday and will continue until September 2016. The euro dropped to as much as $1.10165 against the greenback following Draghi's statements.
"There's just no reason you can own their paper. These rates are just crazy," Cramer said. He also said these actions point to a trade war. "You have to accept the fact that this is about a trade war, but we don't talk about it. We just tend to accept the fact that Europe can do whatever it wants, but this is a trade war," Cramer said.
U.S. markets moved higher after Draghi's statement. Click here to see what the markets are doing now.