House slaps China on currency policy, deepening trade dispute

http://www.washingtonpost.com/wp-dyn/content/story/2010/09/29/ST2010092907303.html?sid=ST2010092907303

No one wins in a trade war, and the US will definitely lose this one.

The House of Representatives voted Wednesday to punish China for policies that unfairly favor its exports at the expense of the United States and other countries, the latest volley in what is developing as a global battle over jobs and commerce.

Brazilian Finance Minister Guido Mantega said this week that a quiet "currency war" is underway.

The Fed and US Treasury are doing everything in their power to devalue the USDollar. And folks wonder why owning gold isn't "risky." While the USDollar is the world's reserve medium of exchange, it is proving to be a horrible store of value.