Posted on 03/12/2011 12:12:53 PM PST by 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.
Well, finally, it’s all out there for the world to see. No doubting their intentions now.
Jones is the loony tunes. He's around to make you think you're loony if you start asking too many questions.
Any US entity that endorses a currency backed by the IMF is evil and should be nuked.
This story is two years old.
The Federal Reserve is not owned by foreign banks. All profits from its operations are paid into the US Treasury. Ron Paul is no more qualified to judge the operations of the Fed than he is to fly a rocket to the moon.
I’d say this is unbelievable, but unfortunately it is all too believable.
And folks wonder why gold and silver are at an all time high.
It only gets worse... unfortunately.
I suggest you consult the US Constitution for the exact definition of “Treason”.
As you know Congress did just that as one of its first acts when it set up the Treasury Department. Of course, at that time it was run by one of the world’s great geniuses.
SMERSCH is on a rampage, run for your lives.
Where has Ron Paul been shown NOT to be a kook?
I have given your name to the Illuminati Central Committee your days are numbered. Right now it is busy deciding which country to devastate with the next attack of the Earth Quake Machine. A bitter quarrel amongst the Committee has erupted whether it will be Iran or Turkey.
Unfortunately for your ravings the “secret” is neither true nor a secret.
JFK was more likely killed by the mafia than the Rothschilds or anyone else Mein Kampf Revisited might be claiming.
I think most of these folks believe higher education and learning in general is all a big conspiracy.
So the Fed is paying the American taxpayer 49 times as much as it is paying the member banks? That is like a 98% tax rate, lol.
How many A-bomb, H-bomb equivalents does the radiation release represent?
BTW those bombs did little damage.
Hmmm, an odd comment from one so knowledgeable. You should know what the definition of “Treason” is.
But its use is timeless.
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