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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (136552)	8/29/2013 6:09:46 PM
From: RetiredNow	Read Replies (2) \| Respond to of 149317

Agree with you on the GOP, but you fail to mention endless QE, aka money printing, as a serious threat to our reserve currency status. Exactly why do you think the emerging market economies are screaming at us right now? They really dislike our currency manipulations that send hot money flying in and out of their economies, creating wild gyrations in the values of their currencies and destabilizing their economies. Then when they ask for something reasonable such as the Fed should coordinate monetary policies with our trading partners, they are told they are on their own and the Fed is not the epicenter of their problems. Wow! Well, the result of that will be these Emerging Market economies are ripe for a new trading partner who can offer them a stable currency to do business in. If China backs their currency with gold and establishes a stable currency and bilateral currency deals with all of these emerging economies, just how fast do you think most trade will migrate to hard money over soft money like the USD? These things can happen with a velocity that would astonish you. So to me, this isn't about politics as usual where we blame the GOP for everything wrong with this country. Right now, our monetary policy is in the hands of the Democrats and Obama, who has the power to appoint the next Fed chairperson. Will he appoint another Bernanke who is actively destroying our reserve currency status? Or will he appoint someone who understands the consequences of our monetary actions and seeks to stem the tied of the Chinese maneuvers to displace the USD as the reserve currency? That should concern every American that has the educational background to understand the process and implications of international currency flows.