Geithner 'open' to China proposal

Politico ^ | 325/09

[FromLori]

Geithner, at the Council on Foreign Relations, said the U.S. is "open" to a headline-grabbing proposal by the governor of the China's central bank, which was widely reported as being a call for a new global currency to replace the dollar, but which Geithner described as more modest and "evolutionary."

"I haven’t read the governor’s proposal. He’s a very thoughtful, very careful distinguished central banker. I generally find him sensible on every issue," Geithner said, saying that however his interpretation of the proposal was to increase the use of International Monetary Fund's special drawing rights -- shares in the body held by its members -- not creating a new currency in the literal sense.

[kellynla]

...the U.S. is "open" to a headline-grabbing proposal by the governor of the China's central bank which was widely reported as being a call for a new global currency to replace the dollar?

and just who gave Geithner the authority to speak for the U.S.?

[Tarpon]

It’s the only logical conclusion you can draw, it’s purposeful. Nothing else works. They are not all stupid people.

Time for freepers to get on board and begin the counter offensive — IMHO.

I also think this is why there are so many treasury job turn downs.

[FromLori]

I know but calm down WE have to find a way to fight back! Turn your despair into Action it’s not over yet.

[Nachum]

The List, ping

[ClearCase_guy]

I agree with you about the treasury jobs. Good candidates see what’s going on and want to have nothing to do with it.

[Tarpon]

That’s my take, the nominee figure out they are not serious fixing the problems and walk out the door. Democrats can be Americans too ... well at least a few can.

[TenthAmendmentChampion]

“The only thing concrete I saw was expanding the use of the [special drawing rights],” Geithner said. “Anything he’s thinking about deserves some consideration.” The continued use of the dollar as a reserve currency, he added, “depends..on how effective we are in the United States...at getting our fiscal system back to the point where people judge it as sustainable over time.”

WHAT????? What “people” is he talking about??

[bigbob]

Geithner - shut up and get back to work. Until you fix the economy, we don’t wanna hear another peep outta you!

[Las Vegas Ron]

Ping for this needs to be pinged to everyone

[TenthAmendmentChampion]

http://www.marketwatch.com/news/story/Dollar-pares-losses-after-Geithner/story.aspx?guid={4723ECE5-834D-4110-88CD-0E4A950E0B38}&dist=hplatest
CURRENCIES
Dollar pares losses after Geithner clarifies comments

By Lisa Twaronite, Polya Lesova & William L. Watts, MarketWatch

Last update: 1:32 p.m. EDT March 25, 2009Comments: 26

SAN FRANCISCO (MarketWatch) — The U.S. dollar pared its losses against other major currencies Wednesday after Treasury Secretary Timothy Geithner clarified his earlier comments, saying that the dollar remains the world’s reserve currency.

Geithner said Wednesday the U.S. dollar remains the main global reserve currency and he does not see a change in that status in the foreseeable future.

Earlier this week, People’s Bank of China Gov. Zhou Xiaochuan called for a new international reserve currency to replace the dollar.

Zhou suggested that the International Monetary Fund’s Special Drawing Right (SDR) should be given a greater role...

[ClearCase_guy]

Geithner was for the global currency before he was against the global currency.

Which means he is for the global currency and lying about it.

[PSYCHO-FREEP]

Well, now that we have pretty much become a one party government anyway, why not? With all these new Czars in their White House castle, who can say and do what ever they like, and with no Constitutional legal authority to answer to, the sky is the limit. (For the time being)

[Dinah Lord]

Talk about a boneheaded move. I was watching Geithner's speech at the Council on Foreign Relations when Geithner said he was open to a one world currency and the dollar sank like a stone. He had to come out and 'clarify his statement'. And did everybody see that the UK government bond auction failed today? They tried to sell 1.75 billion and only fell short by 100 million. How long till that starts happening here in the US?

Failed UK Bond Auction - dollar sinks on Geithner remarks

"The dollar mostly recovered from a plunge early Wednesday as the Treasury Secretary Timothy F. Geithner said in remarks before the Council on Foreign Relations that U.S. unit would remain the world’s ‘‘dominant reserve currency’’ for a long time, The Associated Press reported from New York."

"Brian Dolan, a currency strategist at Forex.com, attributed the dollar’s collapse earlier to Geithner saying that Washington was ‘‘quite open’’ to an increase in the use of the IMF’s ‘‘Special Drawing Rights’’ — a basket of currencies made up of the euro, yen, pound and dollar — in response to a question about a recent essay by Zhou Xiaochuan, the head of China’s central bank."

[ETL]

I think I’m going to be sick. It’s like waking up on another planet and not being able to get your bearings.

To Serve Man
Writer: Rod Serling, based on the story by Damon Knight
Director: Richard L. Bare

Apparently benign alien emissaries show mankind how to end the misery of war, plague and famine. The Kanamits, nine-foot tall aliens, arrive on Earth with one lofty goal: To Serve Man. They end war, they end famine. They make the military wonder: what's the catch?

CAST: Richard Kiel, Hardie Albright, Robert Tafur, Lloyd Bochner, Lomax Study, Theodore Marcuse, Susan Cummings, Nelson Olmstead.

Watch it, or any other TZ episode, online for free at:
(see season 3, page 1. there are 3 seasons in all, each seasons page has 2 pages of listings)
http://www.cbs.com/classics/the_twilight_zone/
________________________________________________________

[BuffaloJack]

Geithner proves he is as clueless as teleprompter boy.
Our country is toast with these socialist appeasement monkeys in charge.

[I Hate Obama]

In our Constitution we the citizens have the right to overthrow our government. What’s stopping us?

“Ever Generation needs a new revolution.”

-Thomas Jefferson

[I Hate Obama]

Oh that’s right the government is stopping us.

[Reagan69]

Y-I-K-E-S!!

[The Sons of Liberty]

Geithner 'open' to China proposal

One World Currency = Surrendering our sovereignty = TREASON!

[gathersnomoss]

One More Time!

One World Currency = Surrendering our sovereignty = TREASON!

TREASON!