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Will Obama be the President who loses the Dollar? 20 March, 2009

Posted by David Anderson in Economic Policy.
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Critics who do nothing but whine and complain bash the President for going on the Leno show. If they want to complain, it should be that the President does not get tougher questions than Leno’s from the regular media. What about the potential dumping of the dollar as the world’s reserve currency? It is rumored that the administration may even be sending signals of support for the move because “it (being the world’s reserve currency) makes policy difficult”. The implications for American businesses and farms could be significant. It could be very significant for our future debt funding. Is the Administration considering an inflation option?

This is the most disturbing economic and foreign policy development to date in the Administration. Why not just support Russia’s global currency? Is that next on the agenda? Will someone even ask this in next week’s press conference?

What happen to restoring U. S. leadership in the world? We seem to taking an attitude of tell us what to do. Help us out because it is to hard to make the sacrifices of leadership. We ask would you please take prisoners from Gitmo? We may release terrorists in our country if you do the same. We say could you please send a few troops to Afghanistan because we aren’t sure we want to make the investments. Now we are saying that we aren’t sure that we can keep our dollar strong. The world likes to test a new President. Here is one American hoping he will pass the retest.

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