Update 2: US Dollar hits a 15 month low, this as Geithner said in Tokyo today that we fully support a strong US Dollar. I wonder if he got more laughter? He has been ham handed on Dollar policy since March.
The dollar dropped to a new 15-month low as the the euro rose above $1.50 Wednesday morning, even as Treasury Secretary Timothy Geithner reiterated the administration’s stance that a strong dollar is good for the U.S. economy.Geithner, in a speech in Tokyo on his way to a summit of Asian finance ministers in Singapore, also said low interest rates and other government supports for the economy were still needed.
The expectation that the Federal Reserve will keep the key U.S. interest rate near zero has been weighing on the dollar. Higher interest rates make a currency more attractive for investors, since bets made in that currency can earn higher returns.
Against a basket of six major currencies, the dollar hit a 15-month low of 74.775.
“The momentum and the conviction that the Fed will not raise rates any time soon, coupled with the fact that the major central banks continue to provide liquidity liberally” means the “fundamental force” weighing on the dollar will persist, said Brown Brothers Harriman analyst Marc Chandler in a research note Wednesday….
China is making noises about letting the Yuan rise. This would be helpful to all the other economies whose exports are suffering as we let our dollar fall, they are trapped while the Yuan is pegged. Let’s see what shakes out. IMO it is a bad sign for the doollar. This would have been GREAT 5 years ago. Now it is a commentary on the weakness of our currency.
China sent its clearest signal yet that it was ready to allow yuan appreciation after an 18-month hiatus, saying on Wednesday it would consider major currencies, not just the dollar, in guiding the exchange rate.
In its third-quarter monetary policy report, the People’s Bank of China departed from well-worn language on keeping the yuan “basically stable at a reasonable and balanced level.” It hinted instead at a shift from an effective dollar peg that has been in place since the middle of last year…
Update at end of post
Oh good grief.
Is it possible he has just mixed up his allies and enemies lists?
The White House waited several days to confirm that Israeli Prime Minister Benjamin Netanyahu could meet with President Barack Obama Monday, and sought conditions first — underscoring the new depths of difficulty that Middle East peace efforts have reached in the last week.
U.S. officials said the delay, which stretched until late Sunday, stemmed from last-minute discussions aimed at gaining a more robust and public commitment to the peace track from Mr. Netanyahu. One official said the U.S. wanted Mr. Netanyahu to express stronger support for negotiations on an independent Palestinian state at his speech Monday before the Jewish Federations of North America in Washington. “We’re in the part of the process where you can’t expect something for nothing,” the official said.
It wasn’t immediately clear what Mr. Netanyahu would say on the issue. But ultimately the U.S. agreed to schedule the meeting…..
Obama wouldnt have known our NATO allies then if asked betcha and he had a CMTE on NATO in AfPak and NEVER HELD A MEETING and he is a snarky snarker with the tea slur aimed at Hillary, he has always had a thing against tea people ! and Obama DID later listen to dictators spewing anti American nonsense at that Latin Americas meeting I recall…he looks much younger here does Obama…
Update: So Obama set ‘preconditions’ on meeting with BiBi, and what did he get from his one on one meeting? What did his ‘Oneness’ produce that Hillary could not get? Nothing. Absolutely nothing. And he did not appear with BiBi to adoring cameras afterward because he got absolutely nothing…WSJ:
(…) Mr. Netanyahu didn’t offer any new commitment about Israeli settlements in the West Bank and East Jerusalem — which the Palestinians have demanded be fully stopped as a precondition for peace talks — or list any specific terms for holding new negotiations.
“We had an idea that he might bring something out to push the process forward,” one U.S. official said. “But he’s kept it in his pocket.” The official said the U.S. side had hoped Mr. Netanyahu would unveil a more detailed proposal for restraining the settlements.
The Israeli leader also appeared to resist U.S. pressure to give stronger support for discussions on an independent Palestinian state — the so-called “two-state solution.” He said he was committed to two states living side by side, but suggested that key Palestinian demands for negotiations over East Jerusalem and the right of return for Palestinian refugees wouldn’t be on the table.
U.S. officials said the White House had held off until late Sunday firming up Mr. Netanyahu’s meeting with Mr. Obama, in an effort to pressure the Israeli leader to take a more conciliatory line.
After the meeting Monday night, the White House issued only a brief statement saying the president and Mr. Netanyahu discussed a number of issues in the U.S.-Israel bilateral relationship, as well as how to move forward on Middle East peace. The two leaders didn’t appear together for the press after the meeting.
Palestinian and Arab leaders on Monday discounted the speech, saying it didn’t differ substantively from past addresses. Palestinian Authority officials reiterated that negotiations with Israel couldn’t resume without a complete settlement freeze….
Photo Update: Real Winds of Change: 20 years. In speech Hillary calls for world ‘to confront those who murder and maim girls whose only wish is to go to school’ RIGHT ON!
“Our history did not end the night the wall came down,” Mrs Clinton told current and former European and US political heavyweights on the eve of the 20th anniversary of an event that symbolised the end of the Cold War. “It began anew,” she said in a keynote speech hosted by the Atlantic Alliance.
“To expand freedom to more people, we cannot accept that freedom does not belong to all people. We cannot allow oppression defined and justified by religion or tribe to replace that of (communist) ideology,” she said.
The chief US diplomat recalled how German Chancellor Angela Merkel, during a visit to Washington last week, spoke of the walls of the last century and “the less visible but equally daunting walls” of today.
“These are walls between the present and the future, walls between modernity and nihilistic attitudes, walls that divide our common heart, that deny progress and opportunity to the many who yearn for both,” Mrs Clinton said.
She highlighted the moment that Chancellor Merkel will on Monday walk through the heart of once-divided Berlin as a moment that “should be a call to action, not just a commemoration of past actions.
“That call should spur us to continue our co-operation and to look for new ways that we can meet the challenges that freedom faces now,” Mrs Clinton said.
“We owe it to ourselves and to those who yearn for the same freedoms that are enjoyed and even taken for granted in Berlin today,” she added.
“And we need to form an even stronger partnership to bring down the walls of the 21st century and to confront those who hide behind them: the suicide bombers, those who murder and maim girls whose only wish is to go to school,” she said.
“In place of these new walls, we must renew the trans-Atlantic alliance as a cornerstone of a global architecture of co-operation,” Clinton said.
(…)Merkel, who will host leaders including Russian President Dmitry Medvedev, British Prime Minister Gordon Brown and French President Nicolas Sarkozy, recalled that the fall of the wall Nov. 9, 1989, came as an utter surprise.
Germans were out in force along the former route of the barrier, inspecting 1,000 giant dominoes that will be toppled as part of Monday’s ceremony.
Mayor Klaus Wowereit said the project, in which children were among those to decorate the foam tiles, had helped underline the day’s importance for those too young to remember it…
Update: Courtesy of Sen Kyl (R-AZ):
“Moral clarity helped Ronald Reagan bring down Soviet totalitarianism during the 1980s, and it can help us bring freedom to Iran today.” -U.S. Senator Jon Kyl speaking on the Senate floor on the 20th anniversary of the fall of the Berlin Wall. November 9, 2009.
*photos courtesy of Foreign Policy Madame Secretary blog
*The Scorpions and the Berliner Philarmoniker Orchestra courtesy of eaglerocktv. More about the Scorpions after the break:
Update: TOTUS’ comments from WH/Congressional leadership meeting on AfPak a bad sign?: TOTUS ready to vote present again, this time in Afghanistan?
Update 2: Oh this is IMO a very very bad sign. It sounds like TOTUS will do what McChrystal called the worse case scenario. Send in less troops than the Generals say is needed but not withdraw, leaving our people unprotected:
(…)“Mr. Obama seemed to be searching for some sort of middle ground, saying he wanted to “dispense with the straw man argument that this is about either doubling down or leaving Afghanistan,” as White House officials later described his remarks.”..
Update: Richard Cohen WaPo of all people:
(…)But the ultimate in realism is for the president to gauge himself and who he is: Does he have the stomach and commitment for what is likely to continue to be an unpopular war? Will he send additional troops, but hedge by not sending enough — so that the dying will be in vain? What does he believe, and will he ask Americans to die for it? Only he knows the answers to these questions. But based on his zigzagging so far and the suggestion from the Copenhagen trip that the somber seriousness of the presidency has yet to sink in, we have reason to wonder.
God Bless the troops, their families and the Afghani people. We need leadership, we have an empty suit. Reuters reports TOTUS is about to take the MIDDLE WAY sending in only 10-15k more troops, and McChrystals worse case scenario. Ironic considering he will not meet with the Dalai Lama no? We cannot excerpt Reuters as they are toolz about it Please go read the linky.
Meanwhile General Petraeus is making it known he fully supports Gen McChrystal’s call for 40k troops, courtesy of AllahPundit at HotAir:
(…)he knows how these comments will be interpreted. More military weight thrown at The One:
Gen. David Petraeus, the head of the U.S. Central Command, said that the situation in Afghanistan needs “sustained and substantial” commitment.
His statements echoed the assessment made by the senior U.S. general in Afghanistan, Stanley McChrystal.
However, Petraeus, in his comments Tuesday to a convention of the Association of the United States Army (AUSA), refused to detail what a substantial commitment means and whether it would translate to sending more troops into Afghanistan….
BWAAAAHAAAA!!! TOTUS met with Putin and Jim Jones told Major Garrett the majority of them meeting consisted of Putin giving TOTUS a long lecture on the history of the Cold War (we know how much trouble TOTUS has with history)..BWAAAHAA FRAKKIN HAAAA!!!!!! Oh man, that’s just classic Putin aint it?
I can just see Putin, gettin his KGB on -‘Let me teach you a thing or two you naive little celebrity’…
Here is another clip with Major and TOTUS, wherein TOTUS dodges answering Major’s question on whether TOTUS’ comment last week that Putin still has a foot in the Cold War is accurate, notice also how TOTUS cant give America credit for a damned thing, not for ending the Cold War nuthin. TOTUS wants to lay it at the feet of Eastern European dissidents alone (no doubt he considers himself their ‘ilk’ like they are all community organizers), well no shxt but without Reagan BACKING UP POLAND and others it would not have happened..and we know how supportive TOTUS has been of Georgia, and Poland and Czech Republic (selling out on missile shield and telling all parties to be calm and that BS when Georgia was invaded) and look at his bravery in standing up for the people of Iran….yeah not so much…. PFFFFFFT! I am fer shure no foreign policy expert but I know weakness and Naivete when I see it and so does Putin…..
Here’s one for Putin, an ABBA fan we hear: