Posted on 06/02/2009 3:38:13 PM PDT by Signalman
BEIJING, June 1 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday reaffirmed his faith in a strong dollar and reassured the Chinese government that its huge holdings of dollar-denominated assets are safe.
"We believe in a strong dollar," Geithner said in a question-and-answer session after a speech to students at Peking University. [ID:nPEK144756]
A major goal of Geithner's maiden visit to China as Treasury secretary is to allay Beijing's concerns that Washington's mushrooming budget deficit and ultra-loose monetary policy will undermine both the dollar and U.S. bonds. China is the biggest foreign owner of U.S. Treasury bonds.
"Chinese financial assets are very safe," Geithner said. His response drew laughter from the audience.
(Excerpt) Read more at reuters.com ...
The game is up?
I really hope they don’t think that these DC morons represent the People.
He thinks as long as we have printing presses, the Chinese are guaranteed to get their money back. So what's the problem?
Geithner thinks money is like muscle: The more you have, the stronger you are.
>>> I really hope they dont think that these DC morons represent the People. <<<<<
They can read FR just like the rest of us.
This from the guy that cheats on his taxes and the crew that gave us TARP, AIG, Fannie/Freddie, the auto bailouts and Quantitative Easing.
How do they sleep at night?
schu
Liar.
Eddie Haskell never made Mrs Cleaver laugh (or at least until Eddie was out of the room).
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