Obama says US must address currency rates

[newbie]

Reuters

February 3, 2010

President Barack Obama said on Wednesday China and Asia would be a huge market for U.S. exports going forward but it would be important to address currency rates to ensure American goods were not facing a disadvantage.

[sheilakel]

Sounds interesting..

[mrs millionaire]

well, why not kill two birds with one stone. If the Iraq PM needs the RV to happen to enhance reelection, then perhaps Obama thinks that those of us who invested in IQD will push for his reelection because he happened to mention just before the RV happened that countries needed to evaluate currency values. Its what I've been thinking all along...I would be naive to think that my government didn't have its own agenda when concerned with the RV of the IQD

[dinollar]

obama i dont trust him ,. if he gets money from rv he will spend it on some more bs and not pay the deficet

[jan Roller]

What is Mr O up to now?

[Chrisfromtexas]

I don't think Mr O has a clear picture of what the this Country is all about.

[farmgirl]

don't know but don't trust him

[tander3904]

i cant figure mr.o out at all.. hard for me to give that trust

[Moolay]

Sounds like the begining of a one world currency down the road! Maybe i'm wrong, but this is the first thing that came to mind.

[dreamstealer]

very interesting

[NFL]

I think he's spending like he is because he knows dinar will bring the deficit down, when big daddy bush hit kuwiate we got their dinar then clinton moved in they revalued their dinar and it bought the deficit down and made clinton look real good. jmo

[erhouse]

I trust O more than W.

[jwb]

Moolay, I'll bet you are right and he has that thought tucked carefully up his sleeve! First thing that came to my mind was a massive devalue of our $ to make goods much cheaper for foreign markets, bummer.

[Dryden01]

Let us assume for the sake of argument that there is in fact an RV this month. The matter of greatest concern for most of us is whether or not we have to cash in the 10K and 25K notes within a short term window. This is important because those that would realize over $250,000 USD would have to pay 39% of the short term gain in general taxes. Probably state income taxes would further dip into that pile.

Those who have held the dinars over 1 year would correspondingly pay only 15% long term capital gain in 2010. The difference between the two tax payments is staggering and the American administration is essentially confiscating most of the profits if the less than 1 year holders cash in.

All of you should work out the differences between the methods and realize what each costs and what the savings are. I can save over 850,000 in taxes myself by simply holding the dinars for a complete year before cashing in. Consideration might be given to collateralizing the dinars pending the achievement of long term capital gains rates if we need money for an investment. If you can prove when you bought the dinars, you could stagger the cashing in for each date in your purchase string.

[intheend]

i cant believe you havent been asked you to support this with a link or something,,like whereld you here this maybe,,oh, he told you himself, i get it now...please help us believe you

[klb101]

Let us assume for the sake of argument that there is in fact an RV this month. The matter of greatest concern for most of us is whether or not we have to cash in the 10K and 25K notes within a short term window. This is important because those that would realize over $250,000 USD would have to pay 39% of the short term gain in general taxes. Probably state income taxes would further dip into that pile.

Those who have held the dinars over 1 year would correspondingly pay only 15% long term capital gain in 2010. The difference between the two tax payments is staggering and the American administration is essentially confiscating most of the profits if the less than 1 year holders cash in.

All of you should work out the differences between the methods and realize what each costs and what the savings are. I can save over 850,000 in taxes myself by simply holding the dinars for a complete year before cashing in. Consideration might be given to collateralizing the dinars pending the achievement of long term capital gains rates if we need money for an investment. If you can prove when you bought the dinars, you could stagger the cashing in for each date in your purchase string.

What is the big deal about paying taxes? I would rather have the money as soon as the rv happens than to wait and take a chance on the value falling again. Iraq is way to unstable to risk waiting a minute longer than you have to. If rv is as high as speculated you will still make a huge profit even after taxes. Maybe our tax dollars will help with the deficit.

[mervin]

He is referring to China. Yuan is being held artificially low by the Chinese government. This gives them a huge price advantage helping their recovery by increasing their exports. Everyone else is at a competitive disadvantage in the world market. The G20 has been pressuring China to allow the Yuan to float again as they know it would drive it up quickly.

Yes their is a world push to get off the dollar peg and onto a market basket peg made up of several major currencies including the dollar. Obama does support this as doe the IMF and UN. If this happens the dollar will fall sharply

[Golfkdicke1023]

You don't trust him but I bet you trusted the idiot that preceeded him!