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Thursday, September 16, 2010

Phil Flynn: Manipulation! It Is A Mania!

There are currency manipulators everywhere you look. Now we all know about the Chinese and Treasury Secretary Tim Geithner who is going to give Congress an earful about those well known currency manipulating scoundrels as our fine men and women in congress begins a second day of hearings on the China and their manipulative currency ways. But who could have thought that the Japanese were manipulators as well! Well Senator Carl Levin is deeply disturbed with the Japanese and exclaimed that, "China is not the only country with a predatory exchange rate policy”!

He said that the US needs to watch the Japanese and what they are doing! Now of course we all know that currency manipulation is a very wrong thing to do. And if Senator Levin is deeply disturbed with the Chinese he must be even more disturbed with the Federal Reserve that should be grouped in with the rest of the currency manipulators. Don’t tell the honorable senator this but when the Fed prints more money to save the economy they are manipulating there currency. Also when the party in power, and I am not mentioning any names, runs up deficits and borrows money from the Chinese and pays them back in newly printed bills it kind of encourages that naughty behavior.....Read the entire article.

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