FED supports "STRONG DOLLAR", hahahahahahaha

Discussion in 'Economics' started by S2007S, Oct 6, 2009.

  1. S2007S


    Here are just some of the quotes about supporting a stronger dollar, however its been plenty of talk and no action for years.

    Anyone anticipating a collapsing dollar,

    I AM

    *******MAY 12, 2009*******

    “For the foreseeable future, the dollar will remain the leading currency both for reserves and transactions,” Dr Bernanke said.

    “The issue at hand is whether or not the dollar will retain its value, and I think it will. I think it will be strong.”

    The dollar will stay strong “because the US economy is strong”, and because “the Federal Reserve is committed to making sure we have price stability in this country”.

    *******JUNE 10, 2008*******

    WASHINGTON — The dollar rose to a three-month high against the yen and gained against the euro on Tuesday after Ben Bernanke, the chairman of the Federal Reserve, appeared to signal an end to interest rate cuts and President George W. Bush talked of "commitment to a strong dollar."

    *******JANUARY 17, 2008*******

    Federal Reserve Board Chairman Ben Bernanke today mirrored recent comments from the Bush administration that efforts to keep the economy strong will in turn keep the US dollar strong.

    'My view on that is that ... we need to make this economy strong and have price stability, and if we do that then in the medium term the dollar will reflect the strength of the US economy,' he said at a House Budget Committee hearing today.

    *******NOVEMBER 8, 2007*******

    NEW YORK (Thomson Financial) - US Treasury Secretary Henry Paulson reiterated his support for a strong dollar Thursday in a speech that also called on China to show more exchange-rate flexibility and speed up its economic reforms.

    Paulson repeated his position that markets should set the dollar's value and urged China's government to allow the yuan to appreciate, saying it would help Beijing keep inflation in check while maintaining stable growth.

    'A strong dollar is in our nation's interest and again the currency value should be determined competitively, based upon our economic fundamentals,' Paulson told Chinese and US business leaders gathered in New York.

    *******JANUARY 4, 2004*******

    US officials maintain there is no need for alarm. On Wednesday, US Treasury Secretary John Snow reiterated that the US policy was for a strong dollar. "A strong dollar is in US interest," he told a business group.
  2. jnorty


    My question is why aren't the masses descending on washington dc by the 10's of millions demanding and if neccessary rioting in the streets demanding an end to massive money printing before they destroy our entire country. this is an outrage what they're doing to save a few banks and brokers. STOP STOP STOP STOP PRINTING.
  3. It was very convoluted and deceptive from the very beginning. And was peppered with short term benefits each step of way.
  4. FB123


    Because the masses are far too stupid to understand even 1% of what is actually going on, that's why. They would need an intelligence increase of about 2 orders of magnitude to be able to get mad at the right people... it's very easy to mislead imbeciles.
  5. wavel


    We live in a world whereby the precedence that determines a course of action is resolved by way of the majorities "awareness" or in other words, currently determined by way of empirical "facts".

    At this point in time we still have a strong Dollar.

    The sheeple will "catch up" when the facts become undeniable.
  6. The real question is, why don't all of you who are so baffled that no one is doing anything about it, actually get off you fat lazy asses and get things started :D
  7. Dreamers


    include yourself in your quote smartass

    oh right I forgot, you don't care, you somehow believe you none of this will affect you

    your stinkin 115 k will be as good as 35 k when FED is done with USA

    and this will be in 5-10 years

  8. Dreamers


    but then it will be too late
  9. We are all venal and selfish, it is a matter of cost/reward, risk/benefit. We take best option, such as benefiting from the problem, running away from it and leaving the problem to others, then fighting it if we have to.
  10. wavel


    Not at all... There is nothing that can be offered in response at the point in time when the majority rebel.

    I'm not saying it won't be a rough ride....

    I'm saying the outcome is pre-determined.
    #10     Oct 6, 2009