Sen. Charles Schumer (D-NY) now tops our list of shameless demagogues, for his redoubled whining over China’s currency. He could be forgiven, if he were not aware of Chairman Bernanke’s unprecedented manipulation of the U.S. dollar – manipulation which is, in fact, stated policy – except Schumer exhorted him to do it!
If we’re printing more money to buy more of our national debt, then we are diluting the value of our dollar.
Here he is, last year, with his famous “get to work, Mr. Chairman,” demanding additional monetary stimulus. In the same hearing, Sen. DeMint (R-SC) warned, “If we’re printing more money to buy more of our national debt, then we are diluting the value of our dollar.” So, who is the currency manipulator? Here is Sen. Schumer again:
That’s why we’re making a renewed, bipartisan push to get this bill passed and on the President’s desk, and send a strong message to the Chinese government that the rigged game must come to an end.
Sen. Schumer plays to the groundlings with alacrity, one day demanding currency manipulation from the Fed, and the next day damning it from the Chinese. Schumer’s co-conspirators may be unaware of the doubletalk – Sessions (R-AL), Brown (D-OH), Stabenow (D-MI), Burr (R-NC), Collins (R-ME) and Casey (D-PA). They may not all be hypocrites.