China and Our Dollar

So I thought I'd take a look to the British papers today to see what they think about the sunshine and lollipop none sense that our leaders are spouting. I was not surprised to find that they aren't buying into it either;
China alarmed by US money printing

The US Federal Reserves policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.

http://www.telegraph.co.uk/finance/economics/6146957/China-alarmed-by-US-money-printing.html

He who goes borrowing, goes sorrowing, said Mr Cheng.

It was a quote from US founding father Benjamin Franklin.

It seems the Chinese know the dirty little secret that the Federal Reserve is actually printing money, and using a third party to buy the Treasury Bonds, Thereby monetizing the debt, which is bad for everyone.

This probably has a lot to do with the FED not wanting an audit of their books by any means. Since by law, they can't do what they are doing.
Barack Obama is committing the same mistakes made by policymakers during the Great Depression, according to a new study endorsed by Nobel laureate James Buchanan.

http://www.telegraph.co.uk/finance/economics/6147211/Barack-Obama-accused-of-making-Depression-mistakes.html

I have been saying this since last October, not just Obama but Bush as well. Bernake who is supposed to be an expert on the depression, seems bent on following the exact same policy only using Trillion instead of Billions.

Meanwhile back at home;

Van Jones decries 'lies and distortions,'quits as Obama's environmental advisor

http://www.latimes.com/news/nationworld/nation/healthcare/la-na-van-jones7-2009sep07,0,6923895.story

I find it disturbing that every time one of team O's folks get caught with their hands in the cookie jar so to speak, they cry about it all being lies and distortions. When it reality, it is simply their own words, in their own words that are up for scrutiny.

Meanwhile, even Politico, which is pretty pro O, must be getting their fill.

Now he is The Golfer In Chief

http://www.politico.com/politico44/

What was that saying about Nero?