March 21, 2016 - San Francisco, CA - PipeLineNews.org - On October 19, 2015 the U.S. Treasury Department, led by Jacob [Jack] Lew, a long time Democrat hack and former WH Chief of Staff, released its, Semi-Annual Report To Congress on International Economic and Exchange Rate Policies .
In the face of consistent and provable patterns of currency manipulation by our trading partners, the ChiComs, Mexico and Japan, Treasury unbelievably denies the writing on the wall:
"Based on the analysis in this report, the Treasury Department has concluded that no major trading partner of the United States met the standard of manipulating the rate of exchange between its currency and the United States dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade as identified in Section 3004 of the Act during the period covered in the Report."
The issue of restoring an equitable trade balance has been a cornerstone of the Trump campaign, obviously as an international businessman he intuits the matter in a way that no mere bureaucrat could possibly grasp.
Lew, is what could be described as the Democrat version of an insider's, insider. His fingerprints are all over every aspect of the shenanigans which have produced a crippled American economy.
Lew's wiki is a devastating indictment [and please keep in mind that Wiki generally slants its data to present Democrat/progressive/cultural Marxists/Islamists in their best light] of the crony/fascistic capitalism which lies at the heart of Obama and Hillary Clinton's Democrat party:
"He worked as an aide to Rep. Joe Moakley (D-Mass.) from 1974 to 1975. In 1979, he was a senior policy adviser to House Speaker Tip O'Neill . Under O'Neill he served at the House Democratic Steering and Policy Committee as Assistant Director and then Executive Director, and was responsible for work on domestic and economic issues including Social Security, Medicare, budget, tax, trade, appropriations, and energy issues...
...From February 1993 to 1994, Lew served as Special Assistant to the President under President Clinton. Lew was responsible for policy development and the drafting of the national service initiative (AmeriCorps) and health care reform legislation...
...In June 2006, Lew was named chief operating officer of Citigroup's Alternative Investments unit, a proprietary trading group. The unit he oversaw invested in a hedge fund "that bet on the housing market to collapse." During his work at Citigroup, Lew had invested heavily in funds in Ugland House while he worked as an investment banker at Citigroup during the 2008 financial meltdown..."
Ugland House is a Cayman Island based shady looking drop box for corporate registration, which again according to the lefties at Wiki:
"Ugland House is a building located in George Town, Cayman Islands. Located on South Church Street, the building is the registered office address for 18,857 entities, including many major investment funds, international joint ventures and capital market issuers." [source, Wiki]
This is exactly the kind of international corporate shell-game about which the left [especially the Soros/MoveOn bots] are always railing, albeit while incestuously being at the heart of process; their hands caught en-flagrante in the high-stakes, international finance cookie-jar.
Hmmmm, Lew, "heavily invested during the 2008 financial meltdown" - in a scheme whereby nearly 20,000 institutions were registered to the same address...move it along folks, absolutely nothing to see here...
So while millions of American were losing their jobs, homes and dreams during the meltdown, the fat cats got richer than King Midas could ever have imagined.
Keep in mind that Lew is the guy running the U.S. Treasury Dept. which denies that countries such as Communist China manipulate its currency as part of a general but largely clandestine trade war against the United States - despite massive evidence to the contrary:
But the heavy hitters of Lew's party, even uber left Senator Schumer have attacked the unfair trade tactic:
“For years, China has rigged the rules and played games with its currency, leaving American workers out to dry. Rather than changing their ways, the Chinese government seems to be doubling down,” said Senator Chuck Schumer, Democrat of New York." [source, Keith Bradsher, China’s Currency Move Clouds Its Policy Goals, New York Times, August 11, 2015]
The deleterious effects of the actions taken by the Red Chinese have been devastating, resulting in a huge trade imbalance between the U.S. and China.
"For years, China has devalued its currency in order to manipulate both the Chinese economy as well as the global economy. By devaluing its currency, China has caused its exports to become cheaper for other nations and has enabled itself to undercut its competitors." [source, Madison Gesiotto, The negative effects of China’s currency manipulation explained ]
With estimates of the trade imbalance approaching $500B the effect on the American economy has been devastating:
"The Economic Policy Institute estimated the cost in American jobs of the Chinese currency devaluation to be 3.2 million between 2001 and 2013. Others have estimated this number to be even higher."
Donald Trump is the only candidate who viscerally understands the dynamic whereby American jobs are being devastated. This partly explains his appeal to blue collar workers and a generally aroused electorate and it is also one of the primary triggers that have caused the DC/Wall Street insiders head to start the process of exploding.
Even, according to the Wall Street house organ Fortune was forced to report on Mr. Trump's very serious charges, though the publication went to extraordinary lengths to - unsuccessfully - debunk the claim:
"In an op-ed in The Wall Street Journal Tuesday, Trump accused China of wantonly manipulating its currency and “robbing Americans of billions of dollars of capital and millions of jobs.” The Republican candidate pledged to designate China as a currency manipulator on his first day in office."
So as the electorate which is rapidly warming up to the prospect of a combative, America first presidency, it should keep in mind that the assault against Mr. Trump, even that coming from the mavens at the GOP/RNC isn't without justification.
Trump represents a separating of the little piggies from the federal tit.
The problem is entirely bipartisan, the swine have found comfortable homes within both the Democrat and Republican parties. It's these insiders who have locked hands - while hiding behind high sounding, righteous rhetoric - erecting an oligopoly designed to serve themselves.
Naturally Trump who intuitively understands the rigged nature of the game - because he has seen it up close and personal for 4 decades - represents the most genuine threat to the old boy system in the last 100 years.
No wonder there is so much wailing and gnashing of teeth...the Trumpster hits these clowns where they live.
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