Obama lets China off the Hook

Discussion in 'Politics' started by Nova78, Nov 27, 2012.

  1. Nova78
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    Nova78 Silver Member

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    US declines to label China a currency manipulator | Comcast

    The Obama administration declined Tuesday to label China a currency manipulator, noting that it has let the yuan rise nearly 10 percent in value against the dollar since June 2010.
    U.S. manufacturers contend that China is manipulating its currency to gain a trade advantage. A weaker yuan makes Chinese goods cheaper for American consumers and U.S. goods more expensive in China.
    "It's time for the Obama administration to rip off the Band-aid and force China to play by the same rules as all other nations."

    Obama throws U.S manufactures under the bus , who's side is he on ?:confused:
     
  2. Franticfrank
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    Franticfrank Member

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  3. Oldguy
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    Oldguy Senior Member

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    Obama has been accusing them of currency manipulation since he came into office and he's taken them to the WTO over it. It's instructive that they raised the value of their money AFTER he threatened to officially label them as manipulators.

    Now, by declining to carry out that threat, he's acknowledging that they've responded positively and offering them a face-saving way out.

    But...they got the message.

    This President has opposed China on every front since day one, the first to do so since Richard Nixon, and I for one like it.
     
  4. Mad Scientist
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    Mad Scientist Feels Good! Gold Supporting Member Supporting Member

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    QE Infinity = Currency Manipulation. Again, you guys are being played.

    From ZeroHedge:
    Guest Post: We Are All Currency Manipulators Now | ZeroHedge
    And here's The Money Shot:
    America is China's Debt Slave.

    Instead of just watching CNN and bashing Fox, You guys should read "Currency Wars" by Jim Rickards:
    [ame="http://www.amazon.com/Currency-Wars-Making-Global-Crisis/dp/1591845564/ref=sr_1_1?ie=UTF8&qid=1354542981&sr=8-1&keywords=currency+wars"]Currency Wars: The Making of the Next Global Crisis: James Rickards: 9781591845560: Amazon.com: Books[/ame]
     
  5. Mad Scientist
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    Mad Scientist Feels Good! Gold Supporting Member Supporting Member

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    ^ Brainwashing Victim ^.
     
  6. Oldguy
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    Oldguy Senior Member

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    Not entirely. We have a weapon in our economic arsenal too. It's called freezing assets.

    The one, big mistake China has made, and is making, is to invest so much our money back into this country. They're buying real estate, taking over companies, investing in US corporations. They're in about as deep to us as we are to them.

    What that means is that if they ever push us too far, we can simply seize their assets and get back a big chunk of our money. We've done it before and it's perfectly legal.
     
  7. TNHarley
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    TNHarley Diamond Member

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    He dont want to piss them off. He plans on borrowing our healthcare from them.
     
  8. Truthseeker420
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    Truthseeker420 Gold Member

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    In response China released a statement saying " I'm Rubber You're Glue, It Bounces Off Me And Sticks To You".
     

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