Priceless!
Posted on 06/01/2009 3:31:35 PM PDT by FromLori
“It will be helpful if Geithner can show us some arithmetic” -Yu Yongding
From the lens of a global risk manager, this morning has to be one of the more fascinating that I have ever woken up to. At the same time as the US Government is setting themselves up to announce one of the largest bankruptcies in US corporate history, we have a squirrel hunting US Treasury Secretary telling the Chinese to “trust us” and America’s currency. That a boy!
Providing leadership to the world’s increasingly interconnected economy is by no means an easy task, and maybe that’s why the world is voting against America holding the world’s reserve Currency Conch any longer. Timmy Geithner’s effectiveness with the Chinese translators overseas this morning is borderline laughable.
There was a time when the Wizards of Wall Street’s Oz could fly overseas and make a comment like “we are committed to a strong dollar” and it would actually matter. Rather than getting on a plane and shaking hands with The Client (China) himself, President Obama opted to send the same guy that called the holder of $768B in US Debt “manipulators... Nice!
When it comes to financial market sophistication, other countries aren’t as gullible as they used to be. An internet connection and You Tube screen have effectively changed all that. On the heels of Timmy’s “reassuring” comments, the US Dollar is getting spanked again, trading down another -0.73% to lower-lows at $78.63. Rather than fading Geithner from my soapbox, now the world is – it’s sad. At the end of the day, the US stock market could go up another 6% to 9% percent today, and it would still be amongst one of the worst performing stock markets in the world.
(Excerpt) Read more at seekingalpha.com ...
Playing with the mouse.
Worth a read anyway, as one can only obtain the facts by casting a big net.
Speaking at Peking University, Mr Geithner said: “Chinese assets are very safe.”
The comment provoked loud laughter from the audience of students.
where`s the video of the room full of chinese openly laughing at turbo tax tim ?
Geithner’s name in Chinese is Yu Don Key.
Same to yu.
I still believe that China’s goals have not changed ... and that they still aim to destroy the US without firing a shot.
Priceless!
Geithner, Pelosi, Clinton all visiting in a couple of weeks signals desperation on the USA’s part must be much worse than they let on if they are begging the Chinese to pull us out of this mess.
I wonder what concessions will surface in a couple of years relating to some exchange of technology, assets (maybe our Fort Knox gold)some territory etc. I have a feeling they have dropped their drawers and sold the farm at this point to keep their stupid asses in power
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