Wednesday, October 21, 2009

If You Report on the Dollar Decline, Are You Anti-Obama? is reporting that's focus on the declining dollar is political in nature.

They write:
Drudge also has tried to tie President Barack Obama to the dollar’s plunge. “Obama Dollar Retreats Most Against Commodities in Wealth Shift,” noted Drudge’s link to a Bloomberg story Oct. 13. “Obama Under Fire Over Dollar,” he headlined Oct. 7, linking to a story in the Financial Times.

That’s leading some to conclude that Drudge’s conservative politics are playing a part in his focus on the issue
They then try to link Sarah Palin to this "movement":
Other conservatives have been interested in the decline of the dollar as well this month. On Oct. 6, former Alaska Gov. Sarah Palin posted an item on her Facebook page reacting to the reports of an anti-dollar effort in the oil markets.

“Even the possibility of such a talk weakens the dollar and renews fears about its continued viability as an international reserve currency,” Palin wrote. “In fact, today a United Nations official called for a new global reserve currency to replace the dollar and end our ‘privilege’ to run up huge deficits.”

Palin laid the blame for the weak dollar squarely on the Obama administration: “All of this is a result of our out-of-control debt,” she wrote. “This is why we need to rein in spending.”
Without guessing at the motives of Drudge and Palin, a strong dollar movement is not a bad idea, a decline in a currency is a silent way to suffocate the standard of living of a country and is a great barometer of government financial mismanagement. That said the most likely surprise move in the dollar in coming months is upward, given the fact that Bernanke hasn't printed any money since February.


  1. I don't think reporting on it is the problem I think all the printing of it is the problem remember the Chinese laughing at Geithner? One of the real problems in the US today is our mainstream news media who are state controlled and only report what they want us to hear. If we do not read it in the US news we will find it elsewhere and bring it to peoples attention.

  2. Drudge is a biased, partisan news reporter? And this is... news?

    And what, the Politico is totally objective, right?

    Funny how that always works...