Treasury Secretary Timothy Geithner speaks at the
Economic Club of Washington April 22, 2009.
REUTERS/Yuri Gripas
Posted on 04/22/2009 8:25:40 AM PDT by NormsRevenge
WASHINGTON (Reuters) – Treasury Secretary Timothy Geithner said on Wednesday that the United States bears a substantial share of the blame for the current economic crisis but the world must work together to ease the strains.
"The rest of the world needs the U.S. economy and financial system to recover in order for it to revive," Geithner told the Economic Club of Washington. "Just as importantly, we need the rest of the world to recover if we are to prosper again here at home."
But a balanced recovery will mean that other countries cannot be "dependent on the U.S. consumer."
(Excerpt) Read more at news.yahoo.com ...
Treasury Secretary Timothy Geithner speaks at the
Economic Club of Washington April 22, 2009.
REUTERS/Yuri Gripas
That would be the United States government, Turbo Timmy, specifically the congressional Dems.
Reuters
According to Economic Policy Journal.com, Timmy also said in this morning’s speech that the way is paved for a new global currency
Geithner to IMF: Start Printing the New Global Reserve Money
In remarks made this morning before The Economic Club of Washington, Treasury Secretary Geithner told the audience that (my emphasis)
...we have proposed that the IMF make a $250 billion general allocation of SDRs that will be distributed to all member nations including the U.S. in proportion to their IMF quotas. About $100 billion of this will go to emerging and developing nations. They, in turn, can use this liquidity as necessary to meet their foreign exchange obligations.
While mention of the $250 billion SDR fund was made earlier this month in conjunction with the G-20 Summit, Geithner’s comments appear to be the first time it has been stated outright that the United States will also be a recipient of SDRs. This is the most obvious sign to date that a financial coup is in the process of taking place, with a new global bank ushered in under the cloak of the tired old hag, the IMF. The financial elite clearly have plans for world financial domination and they are hiding behind the skirt of the out of shape hag so as not to attract attention.
Guess the problem was that too many people didn’t file their taxes.
“Treasury Secretary Timothy Geithner said on Wednesday that the United States bears a substantial share of the blame for the current economic crisis”
I hope by “the United States” means “the United States government”. But he probably means you and me.
SDRs,, Great!
sure glad my other half has invested in lootbags full of jewelry, mostly gold over the years.
“But a balanced recovery will mean that other countries cannot be ‘dependent on the U.S. consumer.’”
What a perverted way to think of the global economy. Everything’s all whole countries and the U.S. consumer. Specific producers will be able to rely on specific consumers. And that’s the only way for recovery to happen, for people to produce things and for other people to buy them, hopefully across national borders.
more BS.
I think government sachs may also play a role in all this...
http://www.goldmansachsexposed.blogspot.com/
http://bluelori.blogspot.com/2009/04/all-hail-government-sachs.html
Got it, evil American TRICKED the naive and innocent Euro/Chicom investors. This crap is getting old. The foreign investment banks buying and holding the paper are *just* as guilty as the Americans *selling* the derivatives. Also, a lot of the spike in oil falls right at the feet of commodity traders who relocated from America to London to escape American laws.
Like a dope deal, prostitution, and affair, etc,, BOTH sides are just as dirty. Europe did it to us as much as we did it to them.
Of course!
A couple things:
Tim is a public servant (bureaucrat) not a banker/economist, Its clear he and his boss, President Present, have an equivalent understanding of economics.
I think its true that Tim STILL hasn’t hired any senior staff. He’s going this alone.
I would imagine their current whips are looking pretty shoddy now.
And another thing. I think this was deliberate, create the financial disaster that is solved of course, through giving American financial sovereignty to an international body.
And in the process, they got even more wealthy. Usher in global government, reduce the USA, establish socialism, and get rich in the process, whats not for them to love?
But he probably means you and me.
Yes, us, the conservative terrorists It was all our fault - especially the Christian conservative terrorist - they’re the worst.
Don't blame this American, a$$hole! I always played by the rules!!!
there you go, once again America’s fault...this administration is such a joke...blaming all the worlds woes on us....
>>cannot be “dependent on the U.S. consumer.”
Walmart and the Chicoms are very nervous about that...
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