By John Tamny of Forbes
Not surprisingly gold has hit an all-time high amid a bipartisan rush among politicians to name China a ”currency manipulator”. These are the same clueless politicians who want China to manipulate its currency upward. Ironically, China would be smart to give in to their mercantilist demands in order to escape the currency debasement that Treasury has foisted upon them through the peg. Whatever China’s authorities decide, Treasury and Washington’s jawboning promise continued dollar weakness, and as a result, reduced investment that ensures slower job growth.
