Obama Administration Devaluing The Dollar

October 11. 2010

Barack Obama

The Obama Administration has been slyly devaluing the U.S. dollar, during the current financial crisis, attempting to challenge China in the world of commerce. This is a bad idea. China's financial dynamic is completely different from America's, which enables them to keep their currency low. 

They are the world's top exporter of goods and the cost of living and wages are lower than in America. Playing with the U.S. dollar or attempting to force China to increase the value of its currency, the Yuan, will not repair the financial depression in America.