Republican presidential candidate Mitt Romney is accusing China of being a ‘currency manipulator’ and is attacking Barack Obama for not taking measures against the Chinese. Meanwhile, Romney is silent on the actions of the Federal Reserve which acts as the US central bank and manipulates the amount of dollars in circulation and sets interest rates. In fact, this is precisely what all central banks do – they determine fiscal policy. Kasie Hunt has the story for the Associated Press:
It’s only ‘currency manipulation’ when China does it.
Mitt Romney is attacking the Obama administration for delaying a decision about whether China is manipulating its currency to gain a trading edge.
…The GOP presidential nominee says that on his first day in office, he’ll brand China a “currency manipulator” and work to end what he calls Beijing’s cheating practices on trade.
He says “it’s got to stop.”
Romney says President Barack Obama has failed to hold China accountable and as a result, the U.S. has lost jobs.
Where are Romney’s calls to abolish the US Federal Reserve? If he is against ‘currency manipulation’ in general he could, if elected, actually do something about ending this practice in the United States rather than just attacking it in other countries.
Here’s why you won’t hear anything from Romney about the Fed:
Ron Paul on CNBC: ‘Ron Paul tells the world “Goldman sachs owns Romney and Obama”‘
” Paul told CNBC: The people who run the Federal Reserve make sure their interests are protected. They have their two guys there, believe me! Why does Obama not attack Romney for being a Goldman Sachs candidate? It’s because they both are within the establishment! Neither one of them have the vaguest idea of what Austrian economics and sound money economics is all about. They play the game and they represent the one-party system.” 10/11/12