Obama Punts on Dollar Devaluation Question
- Posted on November 8, 2010 at 7:45am by
Jonathon M. Seidl
- Print »
- Email »
NEW DELHI (AP) — President Barack Obama has sidestepped a question of whether the Federal Reserve may have weakened the value of the dollar by purchasing $600 billion worth of government bonds to aid the economy.
Obama noted at a news conference in New Delhi that the Fed “doesn’t take orders from the White House,” saying it would be inappropriate for him to comment directly on the action. The move last week aimed at making loans cheaper and getting consumers to spend more.
But Obama did say Monday that “the Fed’s mandate, my mandate, is to grow our economy.“ He said ”that’s not just good for the United States, it’s good for the world as a whole.”
The president said the worst scenario for America would be to “end up being stuck with no growth or very limited growth.” He said, “I think that‘s the Fed’s concern and my concern as well.”
Popular Stories
Paper Details Obama Admin’s Alleged Secret Note Sent to Iran: If Israel Attacks, We Won’t Get Involved 566 Comments
‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 392 Comments
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 382 Comments
Roseanne Barr: Most Billionaires ‘Violent Pedophiles’ & ‘Heartless’ Cocaine Addicts 365 Comments
President Obama Issues Major ‘Green Energy’ Executive Order 324 Comments
Faith
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 382 Comments
Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 392 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
- President Obama Issues Major ‘Green Energy’ Executive Order 324 Comments
- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 150 Comments
Bernanke & QE3: Here’s What You Need to Know Read More- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 302 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 382 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
Comments (85)
mimitweetin
Posted on November 8, 2010 at 9:05amYes, I will spend Mr. Obama, on Food, Gold and Silver.
Report Post »Hugh Williams
Posted on November 8, 2010 at 8:56amObama knows this will devalue the US Dollar; this is part of his plan to redistribute the wealth worldwide and even the playing field.
Report Post »http://www.youtube.com/watch?v=UkYYuNIIv2M&feature=related
rdk
Posted on November 8, 2010 at 8:54amHe does not understand that economy stuff. He is pretty good at organizing communities, though.
Report Post »Hugh Williams
Posted on November 8, 2010 at 9:18amI am afraid he does understand the economy. He is doing this on purpose. Read Rules For Radicals, The Coming Insurrection, Dreams From My Father, Cloward and Piven, etc. There are numerous books out there that spell out what he is doing. This destruction of the American economy has been planned for years.
Report Post »charliego
Posted on November 8, 2010 at 10:43am@ Hugh
Report Post »Ditto, he knows all to well–right down to destruction of America. I have read some of these books, articles, as well. Anyone note what Chavez did in Venezuela today? Blaze might have it listed in further stories–I just have not gotten past this current article yet.
Beckofile
Posted on November 8, 2010 at 1:40pmCorrect, This is all part of the plan. We just have to figure out when they spring the event that triggers the chaos. I am very worried about this country at this point. We are BROKE.
Report Post »powhatan
Posted on November 8, 2010 at 8:47amIf he was to tell the truth……well, you get the idea….Duh..the value of the dollar will fall and inflation will come……Econ 101
Report Post »tobywil2
Posted on November 8, 2010 at 8:43amDo you actually believe that Mr. Obama is actually trying to improve the economy? In recent history, almost all coups, resulting in a dictatorship were preceded by a very severe economic crisis. Is that economic crisis Mr. Obama’s objective? Remember when Rahm Emanuel , Obama’s chief of staff, stated one should never waste a crisis. What do you think he meant? You should be very afraid!
Mr. Obama presents 3 alternatives:
• Ignorance, which can be cured with knowledge
• Stupidity, which is forever
• Evil, he plans to avenge King George III by destroying the American Revolution and create a dictatorship.
Almost every initiative that Obama has instigated is destructive to the economy. Does anyone really believe that a President can be that stupid or ignorant? If you do, I have some perfectly dry, vacant land that is completely ready for development in Florida for sale cheap, cash only. http://commonsense21c.com/
Report Post »johnnyfive
Posted on November 8, 2010 at 8:38am“the Fed “doesn’t take orders from the White House,””
So, then the White House takes orders from the Fed?
Has to be one of the two. If the Fed doesn’t listen to the White House, then the Fed must order the White House around.
Report Post »LadyIzShy
Posted on November 8, 2010 at 8:37amIm sorry he says the worst thing to happen would be no growth ? does he NOT watch Glenn Beck? No growth isprefered to what he is doing and allowing to be done to us
Report Post »Amerigo Vespucci
Posted on November 8, 2010 at 8:36amSince when does the Fed not take orders from the WH? Has anyone ever heard of Fannie and Freddy and the “Homeowners” act? Bill Clinton forced the FED to pressure Fanie and Freddy to pressure the banks to give loans to people who could not afford the houses they bought – leading to an infated housing market and setting up all up for the fall we are experiencing right now.
Report Post »Rn mom
Posted on November 8, 2010 at 8:34amYea he’s growing the economy and creating jobs- now that’s shovel ready!
Report Post »Hugh Williams
Posted on November 8, 2010 at 9:10amI am not sure if you are joking or are you serious? Last week the Jobs numbers for October were released and there were 159,000 in job growth. Yea, Happy Days Are Here Again!!! Now here are a few more facts about how bad things really are. The US Department of Labor reports 14.8 million Americans are unemployed. 6.2 million of the unemployed have been unemployed for 27 weeks or more. The extended unemployment benefits will expire at the end of November for this 6.2 million unless Congress extends them. If job growth stays steady at 159,000 jobs per month it will take 93 months (7.75 years) to create enough jobs to for all of the 14.8 million unemployed to have a job. Plus these numbers only work if no jobs are lost for the next 93 months, fat chance of that! If the problem is 14,800,000 unemployed then 159,000 is not an answer.
Report Post »eteme
Posted on November 8, 2010 at 8:34amIn honor of the Late Micheal Jackson’s release of his new song. I would say that Pres. Barry is a “Dance‘in Dance’in Dance’in.. Dance’in Machine watch him get down watch get down”
-Jackson 5 1973
Report Post »Red Bubba
Posted on November 8, 2010 at 8:30am0bama has no clue on monetary policy. What’s worse, he’s not even curious about it.
Report Post »mindy
Posted on November 8, 2010 at 8:23amEveryone should watch the clip that TRUTH4AT posted… I have said for years that it should be IILLEGAL for the USA to sell ANY debt to foreign entities – that if WE THE PEOPLE can’t afford our national debt (through bond sales if necessary) then the spending shouldn’t happen. Had our debt stayed at home, then we as a country would have skin in the game – - now with the mentality of most Americans, the attitude is “how can we get out of paying this debt?” and that is the attitude that has filtered to the top of our government and why the Administration and the Fed would be just fine with a governmental bankruptcy
Report Post »charliego
Posted on November 8, 2010 at 10:35am@mindy
Report Post »Went back and read it-and this from a young person who obviously has more sense than our gov’t. True, we did ‘paint ourselves into a corner’, but this situation is very eye-opening. I believe selling bonds was a useful mechanism to keep various expenditure priorities under control with a payback time-line. Various presidents utilized bonds in a smart way. But, we are now over-reaching-as you point out–allowing others to assume our debt. Wake up America–get cracking Congress, budget, cut expenditures,revert back to the entrepreneur -innovative American way. NOW! thanks, Mindy for referral to that post.
blacksmith
Posted on November 8, 2010 at 1:46pmI have to wonder what kind of shape we would have been in if in WWII we would have just sold war bonds to Germany and Japan? They could still have lost the war and made a profit at the same time. This is what is happening now! If prices of the items we need everyday like gas,food and energy continue to rise in price we will not be able to afford as much of these items. Obama stated “there’s more than one way to skin a cat”. If you can‘t afford gasoline you can’t drive. If you r heating bill gpoe up you have to lower the thermostat. Cap and trade. If you have to cut back on food because you can’t afford it you will lose weight. Battle obesity. There truly is more than one way to skin a cat and I am beginning to feel the knife circling my back legs. God save us and God bless America.
Report Post »stinkybisquit
Posted on November 8, 2010 at 8:22am“that’s not just good for the United States, it’s good for the world as a whole.”
Isn’t it this socialistic whole-world view that’s getting us deeper into this mess?
Report Post »Promotefreedom
Posted on November 8, 2010 at 9:59amOur narcissistic delusional president already has himself in the Dear Leader seat of the New World Order.
Report Post »senah
Posted on November 8, 2010 at 8:22amThe president said the best scenario for America would be to “end up being stuck with no growth or very limited growth.”
There, now he speaks the truth………
Report Post »Americanius
Posted on November 8, 2010 at 8:19amOf course the Fed doesn‘t take it’s orders from the White House. The Fed gets it’s marching orders from Goldman Sachs and former Goldman execs embedded within the White House.
A reporter needs to ask Obama if he owns gold or has Goldline on speed dial.
Report Post »Will NV
Posted on November 8, 2010 at 8:03amThe LSOS, everytime his lips are moving he is lieing.
Report Post »Sandy
Posted on November 8, 2010 at 7:57amHe knew that question was coming. He answered it to smoothly. Normally when a question takes him by surprise he screws up the answer.
Report Post »urbanserf
Posted on November 8, 2010 at 7:55amThe Federal Reserve political, no way, of course not… I’ve actually never seen such a display of objectivity and nonpolitical independence
Report Post »spurjimmy
Posted on November 8, 2010 at 7:55amMust have been sans teleprompter.
Report Post »Pawsupday
Posted on November 8, 2010 at 7:55amWow….he’s in a place where the town hall is NOT his hand picked people! Again he brought his teleprompter with him because he knew he was going it! Way to GO INDIA! NO American reporters will ask the ????…..Thanks for doing our job (again).
Report Post »john seven eighteen
Posted on November 8, 2010 at 7:54amSlick like a snake. An evil, venomous snake at that. If you are afraid of the question just distract from it long enough that your listeners get bored or forget the original question.
Report Post »grandmaof5
Posted on November 8, 2010 at 8:05amAttention braindead American people! The people of India are smarter than you are and obviously more wide awake, oh I didn’t mean American people, I meant media and so-called news people. How does it feel to be the last to know when it is right under your nose and people halfway around the world understand what is happening better than you do, and care more than you do. And, just like the Pock-a-stan question, our illustrious commander-in-chief (no caps for this joker) can’t give a straight answer. Better to keep your mouth shut and be thought a fool than to open it and remove all doubt.
Report Post »truth4at
Posted on November 8, 2010 at 7:53amThis was my take on the $600 bil. in bonds http://www.t4at.com/apps/blog/show/5251682-bonds-to-buy-
but come on…of corse it’s going to devalue it!!
Report Post »starman70
Posted on November 8, 2010 at 7:53amAfter adding 6 trillion to the debt, he can only sidestep the problem. Of course, IT‘S ALL BUSH’S` FAULT! You ain’t seen nothing yet. Wait a couple of years and see what happens to retail prices. Weimar republic*****here we come!
Report Post »Beckofile
Posted on November 8, 2010 at 1:31pmWe will all be shopping at WeiMart soon.
Report Post »TheBeesKnowSoros
Posted on November 8, 2010 at 7:51amI guess I need to get a wheelbarrow to hold my money to buy groceries. Welcome to Zimbabwe.
Report Post »urbanserf
Posted on November 8, 2010 at 7:58amgold and bullets
Report Post »Smoovious
Posted on November 8, 2010 at 9:14amdon‘t forget to get a sturdy lock and chain for that wheelbarrow or it’ll get stolen…
Report Post »Infidels R Us
Posted on November 8, 2010 at 11:29amBesides gold and bullets…silver, booze, and cigarettes make good barter items.
Report Post »Captain77
Posted on November 8, 2010 at 10:50pmActually on this one, Obama is right. He actually has no control over the federal reserve as the federal reserve isn’t government. Didn‘t anyone find it all that the fed didn’t need congressional permission to print the $600,000,000? Pretty crazy since basically we have just we’re about to be robbed of 20% of our savings.
Report Post »Hondaman
Posted on November 8, 2010 at 7:46amHmmmm . . . .Haussain Obama sidestepping a question – - imagine that.
Report Post »Freelancer
Posted on November 8, 2010 at 8:13amIt the new dance of the left…. The “Obama Two-Step” and it is to begin when a question is asked that might require you to tell the truth.
Report Post »TheSlugbuddies Dotcom
Posted on November 8, 2010 at 8:24amHe really reminds us of a solenodon in the way he evades valid points. “Look, I know I said I was going to eat you, but that’s when I was chasing you…now I’m not chasing you…you’re right here in front of me. Why would I eat you?”
Love,
Report Post »Bulljack
suttonea76
Posted on November 8, 2010 at 8:35amI think we are all dumber for reading that nonsensical article.
Also, I would love to hear Obama actually praise HIS OWN country instead of kissing the rears of country’s to sell them on his agenda. Funny, Europe has already distanced themselves from him and China will be next once the FED screws up yet again. I would always wonder why the FED doesn’t reveal their books to us, YET they claim all is kosher and no corruption is occurring.
Sumting stinks!
Report Post »tobywil2
Posted on November 8, 2010 at 8:38amFor the last 18 months, there has been absolutely no correlation between what Obama says and what he does! That fact makes Obama’s rhetoric irrelevant.
People keep talking about boycotts; let’s start a boycott that doesn’t punish the innocent.
Let’s boycott Obama.
How do we do boycott Obama? Just hold the Remote while watching TV and whenever Obama is flashed on the screen (news or commercial), change stations!
One click provides a great feeling of accomplishment and power!
TRY IT YOU WILL LIKE IT!!!!!!!
http://commonsense21c.com/
Report Post »tower7femacamp
Posted on November 8, 2010 at 9:05amThere is no way he could answer that
Report Post »http://www.zimbio.com/David+de+Rothschild/articles/6/Wo+Owns+Federal+Reserve+Rothschilds+Bank+England
not even his teleprompter can save him
snowleopard3200 {mix art}
Posted on November 8, 2010 at 9:20am@suttonea76
The Obama two-step shuffle. Intresting name and literally on the head as to how he evades these painful questions needing the truth to be told. Something indeed does stink, and he knows there is soon to be a total collapse of the economy and the dollar if he continues, and the Fed reserve is not soon reigned in like the rest of the government and the administration.
Time be a running out soon.
Report Post »where is JG
Posted on November 8, 2010 at 9:46amI’ve been “boycotting the T Error Ist” for over a year now. It Started with CommieCast in Jan 2010 when I told them to come Yank out cancer cable and TOBY, I have been muting that OBLABBER since I hooked up my Digital tv Converter. (no I did not use the $40 gubbament cheeze coupon. I bought it from some commie for $20 who requested the coupon and got it for free and spends 120 per month on Cable!) TV COUPONS. Just more welfare handouts for the weak minded. SAD
Report Post »sickofitall
Posted on November 8, 2010 at 9:49amThe Federal Reserve is the largest mistake ever made by Congress. They were tricked into giving away the Constitutional mandated authority over the U.S. currency by a planned and controlled panic by depression. Bernanke swore under oath before Congress that the Federal Reserve would never monetize our debt and within 2 years that‘s exactly what’s happening. He also admitted to the cause of the Great Depression. Nope, no corruption there. http://bit.ly/cL2pft
JFK tried to free our nation from the control of the Federal Reserve and was conveniently assassinated within 5 months of signing Executive Order 11110. Coincidence? It’s been downplayed for 50 years, but is it really that hard to believe when you consider that we’re talking about stripping the power over of an entire nations currency from a small clique of elites that nobody actually knows who they all are, they don’t answer to any authority on earth, and who’s only interest is not America but to hold that power and play with the economies of the world for their own gain. Much of what is known as fact today about this president and actions taken by our government were considered conspiracy theories not too long ago. http://goo.gl/UAgRE
Report Post »EP46
Posted on November 8, 2010 at 12:48pmHe just didn’t want to say George Soros controls the FED, he hates to admit he doesn’t have total power.
Report Post »BetterDays
Posted on November 8, 2010 at 1:53pmand from Drudge.com we have this little tid bit
There was an odd little moment with Spice Jet founder Bhupendra Kansagra when President Obama spoke to CEOs Saturday in Mumbai.
MR. KANSAGRA: Thank you. Welcome, Mr. President, to India. As a fellow Kenyan, I’m very proud to see that you have made –
THE PRESIDENT: Made something of myself. (Laughter.)
MR. KANSAGRA: — India as the focus of your drive for exports out of the U.S.
Obviously the president is not a Kenyan. One supposes Mr. Kansagra meant “of Kenyan ancestry” or something.
- Jake Tapper
Report Post »BMartin1776
Posted on November 8, 2010 at 2:16pmIntentionally destroying the dollar is the truth! Collapse the system is the goal… his “Fundamentally Transforming the USA” is more like Systematically Destroying the USA! http://tinyurl.com/32uavoa
Report Post »A Doctors Labor Is Not My Right
Posted on November 8, 2010 at 9:57pmNo, no, no – Jobs are NOT the concern of government; FREEDOM for individuals to seek our their own markets and to create their own jobs is the concern of government.
Get out of the private sector’s way, and stop continually and deliberately destroying the American economy with your Climate Change and Environmental Legislation, you Marxist bastards. We’ll create our own jobs.
And that’s not a request, either. We’re GOING to create our own jobs, and to hell with your Marxist Global Warming/ Cap and Trade agenda. If I see someone violating your job killing, Progressive, pretended “regulatory” authority, there‘s no way in hell I’m going to say anything, traitors.
Report Post »