Friday, December 30, 2011

U.S Trumped by China says Trump !

Two days ago Donald Trump angrily stated in an interview from Newsmax Magazine that Obama's administration's decision not to call China out as a currency manipulator is totally "inconceivable" because "all you have to do is look at the numbers, they have doing it for years." He said emphatically that President Barack Obama does not command Chinese respect.

Earlier this week, Obama declined to label China a currency manipulator after seeing recent increases in the value of the Yuan compared to the Dollar. Trump said, "We have a naive bunch in the White House that has the Chinese laughing at us. I deal with the Chinese all the time...they tell me they cannot believe what they are getting away with. They are not our friends." He says the Chinese make it impossible for U.S. companies to remain competitive because the currency manipulation is so severe. "We let them take our jobs", he added.

"They take our money and then they loan it back to us and we pay them interest and Obama's given us a $16 trillion deficit," he said. "The whole thing is absolutely insane. And for this bum, as President, to say they don't manipulate their currency is...really a LIE to the American people." He stated the President is beholden to lobbyists on this issue.

The real estate billionaire said if he was President, he would put a 25% tax on all the goods coming in from China, although a treat to do so would probably be enough for the Chinese to back off. "If only Obama had the balls to do it! And you'll get some government troll say 'Oh, you'll stop free trade.' This is no free trade--this is stupid trade -- this is stupid on our behalf. And we have to stop it, we have to stop it soon. It is destroying our country!"

The Way I See It....the Chinese economy is poised to surpass the U.S. economy later this century. America is practically owned by China. China is the largest holder of Treasury paper, with 850 billion as of July. Obama's government isn't addressing the trade deficit and the exploding debt burden. As a student of history...I see there is a parallel to the collapse of Britain's empire in the 20th Century.

China and India represented the world's two biggest economies in 1832, and that ranking will repeat itself by 2032. The 200 years when Britain and the United States were the top two economies were an aberration, and that will change...unfortunately. The decline of empires has happened much faster than folks think. To be on the safe-side, my advice would be that gold will be a far better bet in 20 years than the dollar.

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