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Lew says U.S. to ensure dollar remains top reserve currency
That means gold price suppression and all sorts of market rigging forever.
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By Michelle Jamrisko
Bloomberg News
Tuesday, December 1, 2015
Treasury Secretary Jacob J. Lew said the U.S. intends to ensure that the dollar stays the world's leading reserve currency a day after the International Monetary Fund elevated the Chinese yuan into a basket alongside the dollar, euro, yen, and pound.
The dollar "remains the reserve currency of the world for a good reason," Lew said in a Bloomberg Television interview Tuesday in Washington when asked if the U.S. would consider converting any of its foreign-exchange reserves to yuan. "We're determined to run a U.S. economy that continues to be a strong, safe, and secure economy that makes that case in the future."
While the U.S. supported the IMF decision, "we've also had long, ongoing discussions with China about their currency practices," he said. "They've made commitments to us that they will not intervene in ways that are unfair. And those are important commitments, and they know we're going to hold them to those commitments." ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2015-12-01/lew-says-u-s-to-ensure...
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