Geithner: President Obama believes that China is manipulating its currency

Here's the problem with the US crying like a little helpless baby, that China is manipulating its currency.

Japan is China's teacher when it comes to holding FOREX reserves to keep their countries currency value low.

But that is never mentioned in the media here, that Japan purposely weakened the Yen, to prop up their export industry because the criminal investment banks were profiting off the Yen carry trade, the Bank of Japan had 0.1% interest rates for a while when in the US interest rates were %5, now that is quite a profitable spread. Wall Street and London were making a killing.

Currency manipulation is done by buying up the foreign currencies you want your currency to weaken against, and holding them.

Well China got sick of the 1 sided BS coming out of the US and started buying up Yen, therefore strengthening the Yen. At the same time Iran demanded Japan start buying all future crude oil purchases in Yen, not USD.

This strengthened the Yen, and killed the Yen carry trade, and is the rood of the "liquidity crisis."

China, Japan and Russia have huge forex reserves of USD, our private, not federal, central bank, "The Federal Reserve" is bankrupt. It owns relatively no Chinese, Japanese or Russian currency.

Check out these news services for a different perspective than that coming out of the mainstream media shills:

emsnews.wordpress.com...

www.theinternationalforecaster.com...







[edit on 25-1-2009 by seker2k]

[edit on 25-1-2009 by seker2k]