National Priority-Senate Votes on “Currency Exchange Rate Oversight Reform Act of 2011”-???

We are in the middle of the Depression of 2008 and are suffering under 20% real unemployment; a historical high number of people on food stamps; a home foreclosure rate that exceeds that of the “Great Depression”; and a government who quite frankly does not give a big damn about the suffering of its citizens.  We have an ego maniac President who has never seen a mirror he didn’t like; a Senate Majority Leader who apparently took too many head punches when he was a boxer; and a Speaker of the House who would not know how to rouse the electorate if he had a cattle prod.  Three Stooges Anyone?

While we are suffering through a government induced Depression, your government, at least the Senate, is hard at work for you passing the monumental, life changing legislation called the Currency Exchange Rate Oversight Reform Act of 2011.  Feel better already?  The purpose of the bill is to prevent our trading partners, not just China but any nation, from manipulating their currency to their own benefit.  Wow, like the US does not do that.  Ever hear of QE I, QE II, and QE III by the Federal Reserve?  Ever hear of “Monetizing the Debt” by the Federal Reserve?  Ever hear of artificially manipulating “Interest Rates” by the Federal Reserve?  Talk about us calling the kettle black!

Be assured that this bill will solve all that ails you by:

  • Creates another Congressional Committee made up of 4 Senators, 4 Representatives, and 1 member from the WH.
  • Of course the bill calls for paying for staff and other analytical expenses.
  • The bill calls for the Secretary of the Treasury, working with the Federal Reserve Chairman, (thief #1 and #2), to issue a report every 6 months telling the Congress which nations are not playing nice in the international currency markets.  Do you think these two would indict their own actions in manipulating our currency?
  • If we find a violator, we can tattle on these nations to the IMF, the WTO!
  • Then, the Secretary can take “appropriate” actions to punish the offending nations…  This means start a trade tariff war with our trading partners.

Aside from the fact that currency manipulation is not exactly in the top 1,000 items that are bothering US Citizens, the abject waste of time by the Senate to take up this bill is criminal.  These clowns have not passed a budget in 900 days!  This is a violation of US Law!!!  How about we start managing our own business.  Once this is done, maybe we can start talking to our trading partners regarding mutually beneficial currency stability.  At least the Speaker of the House is going to kill this bill and stop this waste of time.

How about lowering taxes on businesses and individuals?  How about getting rid of job robbing regulations?  How about stopping frivolous law suits?  How about doing your damn job!

RD Pierini

Text of Bill:



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