U.S. Jobs Lost Hit 5 Million With Rigged Currencies

Exchange-rate manipulation by countries from China to Denmark has cost the U.S. as many as five million jobs in recent years, according to the Peterson Institute for International Economics.

www.bloomberg.com...

So if you think that the action of world bankers has little effect on us, think again. That little fixed rate scandal is costing people on the street their lively hood while the bankers pocket the money and then the homes we lose.

How many have been arrested for these actions? Maybe we need to make the King of Iceland the head of our government.

They all do it. Why do you think the US shots the Dollar to hell? A "strong" currency isnt necessarily good (well it is for people on fixed incomes). But if you sell an Ipad for 600 Euros you get almost 800 Dollars out of it, just because the Dollar is at 1,30 . And cars from Europe are prohibitively expensive so it boosts the local market to a degree.

But yeah, the Detail is in the story. How exactly came it about that illegal manipulation led to job losses?

The bigger problem is companies increasing their profits by strangling the economy in the form of making their employees work more for less whom have less time and money to consume. Thats why small businesses suffer, not taxes.

That is a deceptive article.American fiscal controllers are responsible for that.America invites that kind of market and forces it on other through the American petro dollar.It is not worth wiping you but on anyway.So who's to blame and who really get the short end of the stick? Certainly not America. The problem's there are contrived. Better find another scape goat for the poor policy making.

Interesting article.
Thanks for posting.
This should become an interesting thread.

excuse me if this is a stupid question but what exactly do foreign currencies have to do with the US job rate?

Originally posted by Edgar806
excuse me if this is a stupid question but what exactly do foreign currencies have to do with the US job rate?

deflating your currency would make it cheaper to manufacture in your country, hence the jobs flow where the "artificially cheaper" labor is. China is about the best in the business at doing this.

which is why the U.S. Dances on the fence about chastising China for the practice, while wanting them to buy the Debt. It like chewing Dad out just before asking him for the car keys.