If Obama drives the dollar down too far, Hu Jintao will foreclose on California.
Nothing would make Obama happier. Obama thinks the Chinese love Obama groveling at their feet.
Decline in the dollar, decline in respect for America, decline in global temperature, decline in employment, decline in health care services available to Americans, decline in energy available to Americans, decline in American auto manufacturing, decline in greedy American banking industry, et cetera and ad infinitum. Finally we understand what Obama change is: decline.
Obama has made his next crisis to exploit.
I just wish the journalist would explain how the dollar exactly is a “safe haven” currency. Hu Jintao nor Germany nor international bankers think so. The dollar is under attack by George Soros and Obama. It was a safe haven currency, before Obama, ACORN, and affordable mortgages.
NEW YORK (AP) – The safe-haven dollar slid to a 15-month low against the euro, was within striking distance of 14-year lows versus the yen and dipped below parity against the Swiss franc Wednesday as markets absorbed the Federal Reserve’s indication that interest rates will remain at super-low levels for a while and it was not overly concerned by the U.S. currency’s decline.
Against a basket of six currencies including the euro, yen and franc, the dollar fell as low as 74.245, its weakest point since August 2008 and its steepest one-day drop since July 31, said Joseph Trevisani, chief market analyst at FXSolutions.