Geithner Delays Currency Report, Urges Flexible Yuan (Update1)
The Treasury chief faces 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.
Leave it to the politicians to lie about everything and claim that bad is good and wrong is right.
All countries on the face of this planet manipulate their currency. The easiest way for a country to loot it's populace is to manipulate currency. Which means that all governments manipulate their currency. So I wonder why Congress is singling out China as a currency manipulator? What has China done recently that would wake Congress up from their looting the American public to pay attention to anything else? (Congress has been manipulating American currency for more than 100 years, so they ought to be an expert on manipulating currency.)
The real question, is why does Congress care that China is manipulating their currency? Is Congress jealous that China is doing a better job? Does Congress have some other ulterior motive?
The answer is that this is all part of the Barack Hussein Obama's socialist agenda which includes his war on capitalism and the conversion of the United States to socialism. Even with the recent passage of the Health Care Deform bill, the conversion of the United States from a capitalist economy to a socialist economy is taking too long for Barack Hussein Obama. Fortunately for Barack Hussein Obama, the fraudulent "green movement" and the fraudulent "Global Warming" movement are helping destroy the American economy. At this point enough fanatic believers are in control of the United States that they have been able to either shut down most production or force most production of products overseas. Much of the consumer goods sold in the United States are manufactured in China.
What will happen if China stops holding their currency at an unnatural low? The Yuan will start becoming more valuable. Which means that the American dollar will start becoming less valuable. Which means that most consumer goods will start becoming more expensive. Which means that fewer people will be able to buy consumer goods (which will hurt the American public). This means that America will be importing fewer consumer goods. Which will hurt the Chinese economy.
Normal warfare with men and guns is violent and bloody and economically wasteful. It is much more obvious to the public which is getting tired of the American wars around the planet.
This is economic warfare. Economic warfare is much less obvious to the average person, and thus easier to the government to pull off without losing popular support. In fact, once the prices of all goods start rising, the American government can very easily brainwash the American people into believing that it is all the fault of the Chinese. Also because the results of an economic war like this are not instantaneous, Barack Hussein Obama will have been thrown out of office before the effects become noticeable to the average American, and thus the socialist democrats will be able to blame the republicans then in power for the problems caused by Barack Hussein Obama when he was in power.
Seems like a win-win solution for the socialist democrats.
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