The original intent of this amendment was to prevent some ne'er-do-well or other from selling out the United States for a foreign barony or other lucre.
However, its application to Barack Obama and his receipt of the Nobel Peace Prize seems bizarre in the extreme.
After all, Barack Obama is not the first President to receive the Nobel Peace Prize.
Teddy Roosevelt received it for brokering the peace that ended the Russo-Japanese War in the first decade of the Twentieth Century.
Woodrow Wilson got it for his work in helping to establish the League of Nations (which we never joined, due largely to Republican opposition in the U.S. Senate). (Where have we heard that phrase before?)
But then again, maybe there is some merit to deterring Presidents and former Presidents from receiving awards from foreign potentates.
The interesting question in the case of Barack Obama is: how can one strip American Citizenship from an alleged Kenyan, or from a putative Indonesian, who supposedly is not an American citizen in the first place?