WH Press Sec. Dana Perino "Not Allowed to Talk About the Dollar"

[Paulie]

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What a crock of shit. She says "Wendell", and I assume that's Wendell Goler of Fox News, as it does sound like him. Wendell only asked about oil prices in regards to the falling dollar, and she wouldn't even address THAT.

I understand about not getting into straight up economic discussions, but what's wrong with answering that simple question? It's ok to ask about oil prices, but not if it has to do with the dollar?

It's probably completely fine to ask a question about oil prices if it alludes to OPEC being at fault.

It doesn't take a genius to realize that oil is going up because of the dollar and the high inflation situation we're in.

This is the same stupid broad that didn't know what the Cuban Missile Crisis was.

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Next time someone attacks you with "anti-America" spin, you can point out to them that this is one reason you're a little pissed about this country right now.

 

[rayboyusmc]

What kind of person takes the job as the whitehouse liar? If you have any pride or morality, you must know you will be lying one hell of a lot.

 

[indago]

In an article in the Wall Street Journal, 12 December 1979, entitled A Picture of Inflation, Professor Roy W. Jastram, School of Business Administration, University of California, wrote: "In 1965 President Lyndon Johnson had decided to finance the Vietnam war by letting the economy inflate, a tactic with precedents that go back to the currency debasements of the Roman Emperors. Some of the world-wide monetary events that followed over the next 15 years can be traced on the chart where three lines tell the story." The 3 lines showed:

$ price of oil 1965=100
$ price of gold 1965=100
gold price of oil 1965=100

The Arabs, seeing the value of the dollar depreciate in the marketplace, and having no remedy, tied the value of the barrel of oil to gold, which, in 1974, put the barrel of oil "at nearly four times its previous level" in respect to the dollar. By 1979, the gold price of oil was near the same value as it was when President Johnson began his debasement policy, although the dollar price of oil had increased severely. The Arabs were not stupid. They merely placed the value of their product on something that had value in the marketplace. Our government thought that they could pull the wool over their eyes, but it backfired, bigtime, and the Americans paid for it, bigtime.

 

[Paulie]

In an article in the Wall Street Journal, 12 December 1979, entitled A Picture of Inflation, Professor Roy W. Jastram, School of Business Administration, University of California, wrote: "In 1965 President Lyndon Johnson had decided to finance the Vietnam war by letting the economy inflate, a tactic with precedents that go back to the currency debasements of the Roman Emperors. Some of the world-wide monetary events that followed over the next 15 years can be traced on the chart where three lines tell the story." The 3 lines showed:

$ price of oil 1965=100
$ price of gold 1965=100
gold price of oil 1965=100

The Arabs, seeing the value of the dollar depreciate in the marketplace, and having no remedy, tied the value of the barrel of oil to gold, which, in 1974, put the barrel of oil "at nearly four times its previous level" in respect to the dollar. By 1979, the gold price of oil was near the same value as it was when President Johnson began his debasement policy, although the dollar price of oil had increased severely. The Arabs were not stupid. They merely placed the value of their product on something that had value in the marketplace. Our government thought that they could pull the wool over their eyes, but it backfired, bigtime, and the Americans paid for it, bigtime.

History repeating itself again today. But no one seems to notice. No one seems to care.