United States trying to get the yuan to have more value compared to the dollar to help manufactures. Only problem is that it hurts the consumers and hence the economy. Worthless global paper currency will push gold to 1500. Will take for all the countries major deficits to be reduced and thus lessen the value of gold.
Get your facts right!
The day the Democrats took over was not January 22nd 2009
-- it was actually January 3rd 2007.
The day the Democrats took over the House of Representatives & Senate, the start of the 110th Congress.
The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
"For those of you who are listening to the liberals propagating the fallacy that everything is "Bush's Fault," think about this:
January 3rd, 2007 was the day the Democrats took over the Senate and the Congress:
At the time:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.6%
George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!
Remember the day.
January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!
THANK YOU DEMOCRATS for taking us from 13,000 DOW, 3.5 GDP and 4.6% Unemployment to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOS!
(BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy).
And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac?
Ive read all the posts here and im so surprised that most of you blame bush, obama, clinton, dems, and reb. The fall in dollar/rise in gold has nothing to do with who's in power. Not one of you mentioned bernanke and the fed. Central banks from around the work are stealing wealth from the masses by debasing currencies everywhere. Or maybe im wrong.
EXCELLENT REPLY. I've said it time & time before. Everyone got drunk!!! Makes them all accomplices to the crime, therefore all should be fired and replaced. BTW, which 6 voted against it and what link did you get this from??? TIA
"Ultimately, Summers, Rubin, Greenspan, and the financial industry won. Born issued the concept paper in May, which did not cause a financial crisis. But congress responded in October by passing a moratorium prohibiting her agency from regulating custom derivatives... This recommendation became part of the Commodity Futures Modernization Act, which President Clinton signed into law in December 2000."
to all those who get their information from the corporate media: wise up, do your own research. The American people are deliberately being deceived by corporate interests that want to do away with any time of regulation so that they can fleece the American people and NOT pay any taxes. The top 2% of corporations pay no tax at all. Those that do pay tax pay an effective tax rate of 11% yet they continue to lie to the American public by saying they are at a competitive disadvantage because their tax rates are too high. Look at the tax rates paid in other countries. 2009 we only collected 16.4% of GDP in tax revenue. Only 4 developed countries in the world pay less per GDP. With the internet there is no excuse for Americans to be ignorant of the facts. A well informed electorate is essential to protect democracy. Look at the income date just released by the census. The income gap between rich and poor is at it highest since they collected date in 1967. We have the largest gap compared to the entire western developed countries. We have doubled the rate of people below the poverty line since 1967 to 14.5% Not exactly stellar results. Wake up!! Don't just listen to the spin on TV.
Not the appropriate topic here, but even the Tea Party people agree that Bush was an outrageous spender who was a big factor in launching the dollar on it's death spiral. It's not all Dems or Reps, unfortunately it's just people trying to get elected by a mostly ignorant electorate. who upon election have the key to the treasury.
I've got some news for you. Gold was going to 1500 no matter who got in office. Just what do you think McCain would have done different to prevent a higher debt? Lower taxes? What a crock! The only people in this country under taxed is the RICH!