Granted, it was an infomercial and granted the author, Larry Edelson,
is selling something. My question was, is there any truth to it?
Edelson writes:
By RAISING the value of the Chinese yuan, Washington and China will automatically CRUSH the value of the U.S. dollar ... So Washington can repay its otherwise unpayable debts with cheaper dollars!...When the dust settles, the United States will be little more than just another name on the long list of once-proud countries that squandered their wealth ... that were ultimately driven to their knees and forced to submit to the nations that took their places.
While Edelson says his argument is not based on political ideology, he blames Obama, Geitner,and Bernanke for essentially "selling us out" to the Chinese financiers.