U.S. Backing for World Currency Stuns Markets

The Micro Effect ^ | 03/11/2011 | Staff Writers

[ex-Texan]

US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.

The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.

“The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation,” he said.

Mr Geithner later qualified his remarks, insisting that the dollar would remain the “world’s dominant reserve currency … for a long period of time” but the seeds of doubt have been sown.

The markets appear baffled by the confused statements emanating from Washington. President Barack Obama told a new conference hours earlier that there was no threat to the reserve status of the dollar.

“I don’t believe that there is a need for a global currency. The reason the dollar is strong right now is because investors consider the United States the strongest economy in the world with the most stable political system in the world,” he said.

[ex-Texan]

A little bird told me to try lugol iodine drops and I will go out tomorrow to look for them

[Toddsterpatriot]

Toad are you a card carrying member of the Federal Reserve

How else would I have access to the top secret, never before made public, list of the stockholders of the Federal Reserve? Assclown!

[ex-Texan]

Latest news from Japan:

Second explosion at nuclear power plant in Japan Destroys Containment Building

Excerpt:

* * * Japanese officials said cooling systems have also failed at a third reactor as a result of Friday's earthquake and tsunami that knocked out electricity to much of the region. * * *

* * * Plant operator Tokyo Electric Power Co. said 11 people were injured in the blast, which authorities said was probably a hydrogen explosion causing the roof and walls of the building to blow away, reported Japan Today.

* * * Blah, blah, blah and yada, yada, yada

Japanese Utility Says Fuel Rods in Reactor at Quake-Hit Nuclear Power Plant Were Fully Exposed

And not one word about leaks. Not a single word. As if the entire subjects of radiation and public risk were censored.

Video from Japan: Major Cover-up Is Going On In Tokyo & Washington !

Japanese govt only tells people to remain hiding in their homes and all will be OK. Yada, yada, yada.

Arrogant Bob -- tell all those sheep on that other thread to come over here where real news reports are posted

LOL LOL !

LOL LOL LOL !

[angcat]

The Kenyan crackhead is busy golfing.

[Dubya-M-DeesWent2SyriaStupid!]

I am done replying to you and your nonsense.How you be very very concerned then insinuate that it is a conspiracy and not the facts in the news?

[Dubya-M-DeesWent2SyriaStupid!]

Yet many act like they are just hearing it.

[Dubya-M-DeesWent2SyriaStupid!]

http://www.freerepublic.com/focus/f-bloggers/2688553/posts

[TopQuark]

am done replying to you and your nonsense

That was expected. What's the alternative --- for you to learn some history of your own country and how it works? Nah, that's too difficult; conspiracy theories are so much easier.

Well, I've tried. You are welcome.

[Joya]

Good idea.

:)

A.M. said via email all is well w/ eyesight situation, healing & expected improvement. I’ll let you know when I know more.

[investigateworld]

So toddster, tell us again how great free trade is?

[Toddsterpatriot]

Free trade is great. How do you like the secret, never before released list?

[M. Espinola]

There are many on here who recall your imbecilic lies in 2006, 2007 and 2008 such as; 'there is no housing bubble, or sub-prime bubble', 'there won't be a stock market crash' and 'only fools buy gold'. Interesting.... What was the price of gold in 2006, and the current price? Your the fool, paper shill. I bet you will even state there is no inflation now, right putz?

[Toddsterpatriot]

There are many on here who recall your imbecilic lies in 2006, 2007 and 2008 such as; 'there is no housing bubble, or sub-prime bubble', 'there won't be a stock market crash' and 'only fools buy gold'. Interesting....

That is interesting....and wrong. I never said any of those things.

I bet you will even state there is no inflation now, right putz?

Why would I state that, assclown?

[M. Espinola]

You lie, and stated lot more nonsense than that, and you know it. Today’s gold, silver and platinum prices prove what a dumb schlub you truly are. Continue shilling, shill, it’s comical.

[Toddsterpatriot]

You lie, and stated lot more nonsense than that, and you know it.

All you need to do is prove it. It should be easy, there must be years worth of posts out there that prove your point.

Get cracking, you silly twit.

[Toddsterpatriot]

You've posted a total of 337 threads and 32,845 replies.

That's a lot of evidence to prove your claim. So lets see some evidence, you lying liar. LOL!

[arrogantsob]

Equanimity is a very valuable trait and should be cultivated. As far has knowing what to fear we need to remember that there was a period (a long period) wherein there were dozens or more nuclear tests being performed every year by the US and Soviet Union. Those tests were throwing tons of radiated materials thousands of feet in the air. And they came down in the US for the most part. The current problem in Japan is a disaster for them but radiated materials are not being thrown thousands of feet up but small amounts are being thrown hundreds. This means they do not get into the jet streams which circulate at high altitudes thus will not be carried thousands of miles. So there is little for us to fear in that regard. We are not speaking of nuclear explosions but explosions of a chemical nature far, far less powerful.

[arrogantsob]

Each post you put up merely shows further that you know nothing about what is happening. How are materials which are thrown hundreds of feet in the air going to reach the jet streams which are THOUSANDS of feet up which is the only way any radiation will reach the US?

It is also false that there has been no information about leaks being released. But what does that matter since you don’t believe or understand what is released anyway?

Go and join the Left Wing Chorus of anti-nukes it will be howling loudly from now on out.

[ex-Texan]

From your own lips to God’s ear . . .

[arrogantsob]

I find it intriguing that you actually refuse to learn anything about what is happening and have not commented on the thread I showed you where there are some folks who actually do understand what is going on.