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Dollar loses reserve status to yen & euro

Indeed. There's advantages both ways. Having an artificially high dollar like we do, we're able to consume more than we produce. The world is basically subsidizing us. Good for us in that we get more stuff, sweet.

On the other hand, a weaker dollar is connected with higher exports (IE jobs!) and lower imports (including outsourcing to foreign countries.) Japan intentionally kept their currency low for years to maintain their exports.

Personally, I'd love to have the dollar fall to it's true value. Since that's both good and bad, everyone can be happy. Those who oppose the current administration can blame Obama for it. Those who support the current administration can praise Obama for it. Win-win!

While those in the know, with no political axe to grind, can condemn both Bush and Obama for the destruction of the dollar.
 
This is a spiral effect from horse**** fiscal policies by a Bush appointee who should have been removed by Obama.

Both Bush and Obama are douchebags over Bernanke.
The word 'Bush' and some derogatory gets you a thanks from Dana. Congrats.
 
The word 'Bush' and some derogatory gets you a thanks from Dana. Congrats.

It's also possible that I am getting thanked because I'm not blaming only one side while ignoring the other side's complicity in the matter.

Both Bush and Obama are to blame for allowing Bernanke to hold this position.
 
It's also possible that I am getting thanked because I'm not blaming only one side while ignoring the other side's complicity in the matter.

Both Bush and Obama are to blame for allowing Bernanke to hold this position.
Re-read my post, and then think about exactly what I said.
 
It's also possible that I am getting thanked because I'm not blaming only one side while ignoring the other side's complicity in the matter.

Both Bush and Obama are to blame for allowing Bernanke to hold this position.
OK but...

Who signed off on the printing of the money?
 
OK, hold the train for just a second. The dollar has not lost its reserve currency status, as highlighted by the fact that it, the dollar, accounts for 62% of all reserves held by central banks. It does not take a math genius to equate that the Euro, Yen, Pound, etc... combined make up 38% of total central bank reserves.

Obvious Child has already pointed out the reasons for temporary devalue, stemming from both a competitive export model, along with appeasing a liquidity preference during a tough economic environment.

While it is quite conceivable that the Euro replaces the Dollar as the world reserve (many many years down the road), it is dependent on a specific set of circumstances that would need to unravel.
 
The most disturbing aspect of all this is that I think Obama takes great joy in all of this. He wants the destruction of the U.S. He's an Ayers disciple, is he not? That's the dirty little secret.
 
The most disturbing aspect of all this is that I think Obama takes great joy in all of this. He wants the destruction of the U.S. He's an Ayers disciple, is he not? That's the dirty little secret.


Yep. That's exactly it. He also ate that little baby Jessica who fell in the well all those years ago. Damn you, Obama!!!!!
 
The most disturbing aspect of all this is that I think Obama takes great joy in all of this. He wants the destruction of the U.S. He's an Ayers disciple, is he not? That's the dirty little secret.

Are you aware that the president (if and of himself) has very little, if any, control on relative strength of the dollar?
 

Its not their fault or credit. Its the fault of the republicans who have continually bombarded the credibility of the dollar every time they have had any power. Bush shot the dollar and Obama is now nuking the dollar credibilty with enourmous state debt that will take generations to pay. With no industry left except military industry and less services than before the US have to rely on financial services manipulation(people who steal money from the working men).. But this has in fact lost its credibility permanently.
 
Indeed. There's advantages both ways. Having an artificially high dollar like we do, we're able to consume more than we produce. The world is basically subsidizing us. Good for us in that we get more stuff, sweet.

Indeed. It's to our advantage to have artificial constructs that distort the real value of the dollar. But the one thing here I detest above all else is hypocrisy. Notice that those who are bashing Obama are also the same people who bash artificial distortions in the market. That's a contradiction in their belief system.

On the other hand, a weaker dollar is connected with higher exports (IE jobs!) and lower imports (including outsourcing to foreign countries.) Japan intentionally kept their currency low for years to maintain their exports.

Several publications came out against Bush for this as it damages our dollar in the long run.
 
Why am I not surprised that the mindless hypocritical partisan hacks are ignoring posts:

http://www.debatepolitics.com/break...reserve-status-yen-euro-2.html#post1058306425
http://www.debatepolitics.com/break...reserve-status-yen-euro-2.html#post1058306427
http://www.debatepolitics.com/break...reserve-status-yen-euro-3.html#post1058306441
http://www.debatepolitics.com/break...reserve-status-yen-euro-3.html#post1058306445

Their behavior suggests they aren't actually angry about the decline in the dollar and the potential loss of the dollar as a reserve currency.

Their behavior suggests they don't like a Democrat in office. They are merely using this opportunity to blame only one side when both sides are at fault. If they actually gave a damn about what they pretend to, they would have long ago came out against the Bush policies that got us here.

Both Obama and Bush are to blame. But the mindless partisan hacks think only Obama is to blame.

Again, I see NONE of those who attack Obama for this who were here in 2006 have provided any evidence they criticized Bush for the same reckless behavior. Bush had a policy to devalue the dollar to boost exports. Did ANY OF YOU PARTISAN HACKS say ANYTHING about that? I seriously doubt it.
 
Are you aware that the president (if and of himself) has very little, if any, control on relative strength of the dollar?

Shutup.

Democrat = Evil Incarnate
Republican = Can Do No Wrong

Never mind Obama is a Bush clone. Just drink the Kool-aid, take your pills, shut your brain off and follow the propaganda.
 
I suppose not, if you dont care about things like this.

And if you actually cared about what you pretend to, you would have criticized Bush when the dollar had the largest drop in value in 2006. I see you have utterly failed to provide evidence of such criticism. Have you even ever criticized the reckless fiscally liberal Bush spending?

Oh I forgot.

GOP = Can Do No Wrong
Dem = Evil Incarnate

Even when they are following the same policies.
 
It's all in the plan. PBO wants to bring America to her knees for all the injustices of the past.
 
It's also possible that I am getting thanked because I'm not blaming only one side while ignoring the other side's complicity in the matter.

Both Bush and Obama are to blame for allowing Bernanke to hold this position.

You hit the nail on the head. Of course, the partisan hacks on either side will never get it. The only thing they care about their own hatred.

Because you read my mind, you get the customary virtual cigar from yours truly. And with that virtual cigar, comes the customary tradition of...

Printing it out and smoking it. :mrgreen:
 
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First, you mean? That was Bush

They've been "injecting" billions into the market since August of '07.

They injected nearly a trillion in September of 2008.

Is the Fed's $800 Billion Plan Cause for Concern? - BusinessWeek

Obama is simply doing what Bush signed off on to a higher degree.

Yes and no. Ignoring the massive unfunded liabilities, a trillion extra debt on top of Clinton's ending $5.73 wouldn't have caused this mess. Especially for a $14 trillion economy. Harping about the bailout (which has netted a nice return btw) is dishonest when the real problem is that $5 trillion in additional debt that accumulated under Bush.

Having debt go from $5.73 to $6.73 is not that bad. Having debt go from $5.73 to $10.7 is the real problem.

What the hacks here are doing is blaming Obama for the straw that is breaking the camel's back while ignoring the man who strapped lead weights to that camel.
 
No, I'm pretty sure I limited my comments to those things actually applicable to Obama.
 
Yes and no. Ignoring the massive unfunded liabilities, a trillion extra debt on top of Clinton's ending $5.73 wouldn't have caused this mess. Especially for a $14 trillion economy. Harping about the bailout (which has netted a nice return btw) is dishonest when the real problem is that $5 trillion in additional debt that accumulated under Bush.

Having debt go from $5.73 to $6.73 is not that bad. Having debt go from $5.73 to $10.7 is the real problem.

What the hacks here are doing is blaming Obama for the straw that is breaking the camel's back while ignoring the man who strapped lead weights to that camel.

In all honesty, it is not a straw that Obama added to the camel's back, but more lead weights.
 
While true but his policies are just speeding up the process.

But in saying so you concede that it was enevitable...just a matter of time before it actually happened. So, I put the question before you and other "Obama opposers" again: How is this his fault exactly when the U.S. dollar was on a slow downward spiral before he took office?

I can see blaming the President IF the dollar was on strong footing as a reserve currency before 01/20/09, but if it was already on the decline long before President Obama took office, how is this his fault? All you can honestly attribute the President's actions to in this regard is his spending may have taking the matter over the edge, but you can hardly put the blame for the dollar's continued decline on his shoulders.
 
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But in saying so you concede that it was enevitable...just a matter of time before it actually happened. So, I put the question before you and other "Obama opposers" again: How is this his fault exactly when the U.S. dollar was on a slow downward spiral before he took office?

It isn't "inevitable."
 
It isn't "inevitable."

Sorry...didn't check Websters before posting...my bad, but thanks for the spell check.

Back to the point...how is it President Obama's fault exactly when the U.S. dollar was already in decline as a reserve currency before he took office?
 
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