President Obama “believes that China is manipulating its currency” and plans to commit to a strong dollar policy (source: Reuters).
So Obama takes a *hard stand*, while at the same time:
- Supporting a government bailout of the banks.
- Supporting the Federal Reserve System and its scams, which sets interest rates artificially low and creates money out of thin air, contributing to inflation.
This is manipulating currency as well! Takes one scammer to know another!
If I was China, I would be pissed. Having propped up the U.S. government’s spending sprees for so long, China’s watched the dollar go to complete shit.
The U.S. trade gap with China totalled $246.5 billion year-to-date through November and the country holds $681.9 billion of U.S. Treasury securities.
I guess it is much easier to point a finger and take a hard stand on another country than to do so on one’s own homefront.
It is our fault that we are so beholden to China. If we hadn’t auctioned off ridiculous amounts of Treasury securities (and consequently, our posterity) to build big government and enacted policies to keep business in our own country, we wouldn’t be in this predicament.
Piss off Federal Reserve. Piss off “strong dollar policy”.
Filed under: absurd • federal reserve system • monetary policy • news • obama •
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