How The U.S. and China Agreed On A Cheap U.S. Dollar

In early January of 2011, a top secret candlelight dinner was held at the White House. There was no fanfare. Present were the industrial, military and governmental heads of both China and the United States. Our government had just digested the failures of Lehman Brothers, AIG and other corporate icons by creating massive bailouts and running up trillion dollar budgetary deficits. China was also concerned about inflation and soaring prices due to the intentional debasement of the US currency (UUP) by the Federal Reserve. Both sides reached a modus vivendi, so they could mutually profit from these agreements. Please see my January 2011 article on the “Chinamese Twins” to understand these past few weeks.

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