Democrat Charges Obama Allowing Chinese Currency Speculation In Exchange for.....

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Patranus

Patranus

Diamond Member
Apr 15, 2007
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JEDIYoda said:
You have to be the best troll on these forums.......tell us something new why don`t you.........this is real old news....
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Well, he said it today so I am not sure how you can say it is old news....
 
Ozoned

Ozoned

Diamond Member
Mar 22, 2004
5,578
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Congress Pressures Geithner To Label China A "Currency Manipulator", Geithner Postpones Action

April 4th, 2010 | Categories: Economic Trend Analysis
China is back in the forefront of US policy concerns. Here are a number of articles to consider on whether or not China is a currency manipulator, and if so what to do about it. Geithner Sidesteps Congress Geithner Delays Currency Report, Urges Flexible Yuan U.S. Treasury Secretary Timothy F. Geithner delayed a scheduled April 15 report to Congress on exchange-rate policies, sidestepping a decision on whether to accuse China of manipulating the value of the yuan. Geithner in a statement urged China to move toward a more flexible currency and said a series of meetings over the next three months will be “critical” to bringing about policy changes that lead to a stronger and “more balanced” global economy. The delay comes as Chinese President Hu Jintao is scheduled to visit Washington for a nuclear summit April 12-13. The Treasury chief has faced demands from Congress to label China a currency manipulator for keeping the value of the yuan little changed from about 6.83 to the dollar for almost two years. Geithner is instead betting that China will take steps on its own in the next several months to strengthen its currency, analysts said.
 
N

Noobtastic

Banned
Jul 9, 2005
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Balt said:
Doesn't seem to be paying off, so far.
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Ditto.

Obama kisses up to Russia in hopes of getting them on the sanctions train. China too.

What he doesn't realize is appeasement does not work for these regimes. They exploit this level of gullibility. Obama is an amateur and doesn't know what the fuck he's doing.
 
F

Fear No Evil

Diamond Member
Nov 14, 2008
5,922
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IHateViruses said:
Ditto.

Obama kisses up to Russia in hopes of getting them on the sanctions train. China too.

What he doesn't realize is appeasement does not work for these regimes. They exploit this level of gullibility. Obama is an amateur and doesn't know what the fuck he's doing.
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Everybody knows this.
 
J

Joepublic2

Golden Member
Jan 22, 2005
1,097
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Ozoned said:
Geithner is instead betting that China will take steps on its own in the next several months to strengthen its currency, analysts said.
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Not going to happen; china's economy is still too heavily dependent on its export markets to stop them from continuing the devaluation of their currency. They don't have a large enough middle class yet to buy up their massive production capacity, and despite them opening up more markets in SA and Asia, the US is still their prime importer.

Not to mention they're definitely feeling India breathing down their neck for the title of "cheapest labor/least expensive manufacturer".
 
J

Joepublic2

Golden Member
Jan 22, 2005
1,097
6
76
IHateViruses said:
Ditto.

Obama kisses up to Russia in hopes of getting them on the sanctions train. China too.

What he doesn't realize is appeasement does not work for these regimes. They exploit this level of gullibility. Obama is an amateur and doesn't know what the fuck he's doing.
Click to expand...

Yeah China and Russia still aggressively pursue what's in the nation interests, unlike the US which has sold out to intellectually bankrupt neo-liberal economic policies that are making one of the resource richest countries in the world with the most productive workforce in the world poorer on a monthly basis.
 
Hacp

Hacp

Lifer
Jun 8, 2005
13,923
2
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Joepublic2 said:
Yeah China and Russia still aggressively pursue what's in the nation interests, unlike the US which has sold out to intellectually bankrupt neo-liberal economic policies that are making one of the resource richest countries in the world with the most productive workforce in the world poorer on a monthly basis.
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Exactly. The US has one of the largest pockets of rare metal reserves yet we don't mine them b/c of the environmentalists. Instead, we let China mine them for us.
 
JEDIYoda

JEDIYoda

Lifer
Jul 13, 2005
33,986
3,321
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Ozoned said:
How about that JEDIYoda?????
__________________
Thanks John. I owe you 2 now.
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Even though a prominent Democratic senator on Sunday suggested that the Obama administration was letting China slide on possible currency manipulation in exchange for help on Iran sanctions......

That does not mean that it has not been suggested previously!!
You don`t read the right publications...lol
 
M

Moonbeam

Elite Member
Nov 24, 1999
74,621
6,717
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I have some Chinese money that has a hole in it. I think we could devalue our currency that way too, or maybe move to clear plastic with a tiny bit of gold leaf in it. Later in the morning, when it warms up a bit, I will go out in the back yard and take a baseball bat to my biggest redwood while screaming Chinese currency.
 
First

First

Lifer
Jun 3, 2002
10,518
271
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Anarchist420 said:
We're only hurting ourselves by having legal tender laws. Whatever country goes to a non-governmental standard first, wins.
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They have and they've been massive failures, which is why non-laymans know it won't happen.
 
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