Skip to comments.Dollar under scrutiny at G20 summit
Posted on 09/24/2009 8:18:57 AM PDT by BAW
The embattled US dollar is expected to come under scrutiny at a summit of developing and industrialized nations following China-led calls to review its role as a reserve currency.
The dollar issue is bound to surface at the two-day meeting in Pittsburgh as US President Barack Obama and other leaders of the Group of 20 economies debate a new framework for tackling the so called global "economic imbalances" blamed for fuelling the latest financial crisis.
"Though not clear how the plan would be enforced, it would involve measures such as the US cutting its deficits and saving more, China reducing its reliance on exports and Europe making structural changes to boost business investment," analysts at French bank Societe Generale said in a report.
Some argue that the financial crisis resulted from imbalances between savings and investment in major economies, which have led to large current deficits, as evident in the United States, and surpluses, as enjoyed by China.
Beijing was the first to call for a new global currency as an alternative to the US dollar as the US deficit rocketed -- the White House estimates it could reach nine trillion dollars over a decade.
(Excerpt) Read more at news.yahoo.com ...
When politicians rewrite private contracts to suite their political needs, it is a sure sign of s third world country.
At least we know our dollar will be defended by Obama...
This would be an absurd sickening joke, if it wasn’t such an example of a destructive Manchurian sellout.
The left in the United States, “Nothing is too extreme, as long as it neuters the United States.”
God what a price we’ll pay for our fellow citizens having elected this man.
Remember.. both Geithner and 0bama said no to this
Obama dismisses idea of single global currency
They both lied.
Ooops Geithner let it slip a long time ago.
A world currency moves nearer after Tim Geithner’s slip
This is just part of what they’ve been planning all along.
China and two other countries would be up craps creek without a paddle if the dollar were canned. So Rahm probably thought up some EuroDollar idea to please all.
Clinton did it, and now Obama is doing it too.
They appoint incompetents so that they will be able to run roughshod over them to implement their own policy, sound or more importantly, otherwise.
Geithner is a blithering idiot. He has no self-confidence. When he’s in front of a mic, he looks like a deer in the headlights. It’s surprising he can say anything at all when the time comes.
Imagine this guy in charge of something important. Geez Louise...
At U.N., Obama Brings God Into Mideast Peace Process
September 23, 2009 03:39 PM ET
By Dan Gilgoff, God & Country
Remember when President Obama finally heeded the call of progressive religious activists in his recent address to Congress, framing healthcare as a moral cause?
Well, he did something similar in his United Nations speech today. At the end of a longish, applause-fetching passage on the need to restart Israeli/Palestinian peace talks, he called the effort a religious one involving “God’s children” and the three world religions that call Israel the Holy Land:
We must remember that the greatest price of this conflict is not paid by us. It is paid by the Israeli girl in Sderot who closes her eyes in fear that a rocket will take her life in the night. It is paid by the Palestinian boy in Gaza who has no clean water and no country to call his own. These are God’s children. And after all of the politics and all of the posturing, this is about the right of every human being to live with dignity and security. That is a lesson embedded in the three great faiths that call one small slice of Earth the Holy Land. And that is whyeven though there will be setbacks, and false starts, and tough daysI will not waiver in my pursuit of peace.
Although the other countries decry our country being rich, they absolutely work in collusion with Obama to devalue our dollar so theirs increases in value...redistribution of wealth....All cannot be rich, so Obama will see to it we are all poor. Well except for the elitists....
See post # 10 Obama may be a false messiah anti-Christ rolled into one.
“He will fool many”
O B A M A
O B A M A
O B A M A
His cult is certainly a christian heresy, they are one with their god.
He is definitely a major problem for our nation, and it’s survival.
The left in the United States, Nothing is too extreme, as long as it neuters the United States.
God what a price well pay for our fellow citizens having elected this man.
God, forgive us!
and I knew it was coming
God knows who to blame, and friend, it isn’t you, me, or like minded U.S. Citizens. There will be hell to pay though, in this life and the next for some.
Thanks for the ping
Whatever website that is, it tried to attack my computer.
Funny you should say that my wife tried to go there on her computer and the page was blank. It is a UN derivative page of 0bama getting the new currency from the UN. a newly formed organisation to the UN- like ACORN SEIU is to 0bama.
I had to do a spyware and AVG run today wonder if I got crap from that place.