Currency Manipulation: The IMF and WTO.

[tim5400]

thought I would share with you a very good report by the Congressional Research Service entitled Currency Manipulation: The IMF and WTO.

Here is the Summary:

The International Monetary Fund (IMF) and World Trade Organization (WTO) approach the issue of “currency manipulation” differently. The IMF Articles of Agreement prohibit countries from manipulating their currency for the purpose of gaining unfair trade advantage, but the IMF cannot force a country to change its exchange rate policies. The WTO has rules against subsidies, but these are very narrow and specific and do not seem to encompass currency manipulation. Several options might be considered for addressing this matter in the future, if policymakers deem this a wise course of action. To date, while the issue remains a topic of concern, governments have not taken action to address the different ways the IMF and WTO address this topic.

See: Currency Manipulation: The IMF and WTO (July 2010).

got this off another site ....DSTM....dont shoot the messenger

[Econman33]

thought I would share with you a very good report by the Congressional Research Service entitled Currency Manipulation: The IMF and WTO.

Here is the Summary:

The International Monetary Fund (IMF) and World Trade Organization (WTO) approach the issue of “currency manipulation” differently. The IMF Articles of Agreement prohibit countries from manipulating their currency for the purpose of gaining unfair trade advantage, but the IMF cannot force a country to change its exchange rate policies. The WTO has rules against subsidies, but these are very narrow and specific and do not seem to encompass currency manipulation. Several options might be considered for addressing this matter in the future, if policymakers deem this a wise course of action. To date, while the issue remains a topic of concern, governments have not taken action to address the different ways the IMF and WTO address this topic.

See: Currency Manipulation: The IMF and WTO (July 2010).

Great point. We are currently dealing with this concept as it applies to China. They have kept their currency value low to maintain exports.

[EMBASSY SOLDIER/CIVILIAN]

I agree. This is for China. Iraq has to revalue or they're going down the hole. They won't get far without one.

[Lilalbertus]

Doesn't Iraqi have a huge Gold bullion reserve? if so then they really don't have RV anytime soon

[TAP America]

TAP America Talks Currency Manipulation

-By Mark Bloome, Founder of TAP America (www.tapamerica.org)

America is suffering at the hands of China. We are having our financial guts sucked out by the Chinese government because they have resorted to currency manipulation to gain advantage in the global economy and encourage people to move their manufacturing businesses into China. The Chinese government’s strategy is to ‘take and take’ and to give back very little to the global economy, and in particular to America. China actually has regulations that disallow USA made goods from being sold in China and in many cases they insist that manufacturing equipment be made in China and of course they steal our ideas and technology.

I have written a very easy to read article on Chinese currency manipulation (http://tapamerica.org/what-is-currency-manipulation/) that will explain in 3 minutes how currency manipulation works. [it is even funny!] But the Chinese aggression against American economic strength and political strength are not funny. Our elected officials cannot help because we owe two trillion dollars to China and large donors to both parties who have significant investments in China lobby against any USA government action that would protect us. Therefore only we the citizens and consumers can do the job. We at TAP America believe that the only way to bring the USA economy back on track is to buy American. Our motto is the country and job we save will be our own.

[War Eagle]

China is NOT a member of the IMF,and consequently can do anything with their currency they desire.