Geithner vows U.S. will not devalue dollar

reuters ^ | 10/18/10 | Jim Christie and David Lawder

[Nachum]

(Reuters) - Treasury Secretary Timothy Geithner vowed on Monday that the United States would not devalue the dollar for export advantage, saying no country could weaken its currency to gain economic health.

"It is not going to happen in this country." Geithner told Silicon Valley business leaders of devaluing the dollar.

Geithner broke his silence on the dollar's protracted slide ahead of this weekend's meeting of finance leaders from the Group of 20 wealthy and emerging nations in South Korea, where rising tensions over Chinese and U.S. currency valuations are expected to take center stage.

"It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive," Geithner added. "It is not a viable, feasible strategy and we will not engage in it."

[Nachum]

The list, ping

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[Pollster1]

Looks like I have to protect my assets against a severe devaluation of the dollar. If the Obama Regime is denying it, that means it’s imminent.

[Last Dakotan]

...saying no country could weaken its currency to gain economic health.

Fool

[GeronL]

The printing presses will do that.

[TaMoDee]

This is the same as when a Pro Football Team owner says this about a 1-5 Team Coach: “I’m behind him 100%!”
Next week he gets the hook!

[Truth is a Weapon]

He does not have to devalue the $. The rest of the world is doing it for him.

[E. Pluribus Unum]

OOOOOO-GAAAAAAAAHHHHHHH!!!! OOOOOO-GAAAAAAAAHHHHHHH!!!! OOOOOO-GAAAAAAAAHHHHHHH!!!!

RED ALERT!!!

MONETARY DEVALUATION DEAD AHEAD!!!

[patton]

Uhmmm, er, ah, ummm... what the heck does he think QE2 is?

[JimmyMc]

What’s left of the dollar to devalue. Barack has already taken care of that.

[barbarianbabs]

IS THIS A JOKE???!!!!! They have done EVERYTHING in their power to flush the $$$$$ down the toilet.

[jwalsh07]

That horse has left the barn and can be found somewhere in a pasture in Sechuan Province.

[devere]

Ben, put your helicopter back in the hangar.

[ChildOfThe60s]

We hear ya Timmy

[DTogo]

George Soros is doing it for them.

[MissyMack66]

Are they gonna stop printing money or something?

[LasVegasMac]

Treasury Secretary Timothy Geithner...

My dog is smarter than this IQ challenged POS.

[Hoodat]

Geithner lies. The US is already devaluing the dollar. Increasing the money supply for the expressed purpose of funding deficit spending has a tendency of devaluing currency.

[devere]

“IS THIS A JOKE???!!!!! They have done EVERYTHING in their power to flush the $$$$$ down the toilet.”

We’re zig-zagging our way to zero. I guess that right now golden sacks wants to make some trading profits long the dollar and short gold.

[Cheerio]

MONETARY DEVALUATION DEAD AHEAD!!!

Whenever Washington District of Corruption says they will not do something you can be assured the plan is already in place, just waiting to pull the trigger.