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.
Just your typical, everyday, evil, foreign controlled, private corporation.
The word can be used as a synonym for the highest form, ultimate betrayal. That is the sense in which I understood the original poster and the sense I used in my reply. I may be helpful to recall also that when the Founders were hotly debating the future of the country, accusations of nothing less than treason were quite common.
Subsequently, the Constitution specified which acts would be viewed as treasonous for the purpose of administering the law of the U.S. That is probably what you meant in your post. We are not in contradiction: the U.S. Constitution did not monopolize for itself the general use of the word "treason."
Unfortunately, the Constitution does not define "enemies" or "waging war".
Well it specifies that Congress must declare war.
However, be that as it may. If you are interested you could examine the Burr treason trial wherein Chief Justice Marshall gave the definitive definition of “treason” under which our nation has operated for the 200 years since.
The trial is very instructive of the true nature of Thomas Jefferson and gives a portrait of him unknown to people today. And it is not pretty.
Most of the targets of your slander does not make any such claim. Rational people, however, will object to fearing the non-existent boogey man under the bed rather than real problems.
Most of the targets of your slander do not make any such claim. Rational people, however, will object to fearing the non-existent boogey man under the bed rather than real problems.
If the worst case scenario is another Three Mile Island then the biggest problem will be the replacement of the plant. Three Mile was more media hysteria than anything else.
I am sure the envirowhackos will be jumping up and down in glee at another chance to cripple our energy generation. And the Treason media will be cheering them on.
Thanks but none of that answers my question. However, I am sure that the amount of radiation does not come close to the nuclear weapons the Soviets tested throughout the 50s and 60s. Or ours either.
Hilarious. It is unlikely that you understand anything you post. That is certainly the case wrt economic or financial comments.
Interestingly enough John Brown was charged with and convicted of Treason for the raid and seizure of Harpers Ferry.
None of these matters are subject to prosecution for treason.
I do find it hilarious that the Know Nothings are upset with the possibility of ending the dollar’s role as a Reserve currency. One would suspect that they would be opposed to having it serve that role since it requires a greater expansion of monetary aggregates than would be the case if it was not serving in that role. Plus, it conflicts with the neo-isolationism and economic autarky they advocate.
US backing for world currency stuns markets
The Telegraph | 3/25/2009 | Ambrose Evans-Pritchard
http://www.freerepublic.com/focus/news/2214857/posts
Euro walking ‘blindly’ towards slump, says Prodi (HOLD MIO VINO ALERT)
The Daily Telegraph | October 22, 2002 | Ambrose Evans-Pritchard
http://www.freerepublic.com/focus/f-news/773488/posts
Britain could face expulsion from EU under Prodi plan
The Daily Telegraph | December 6, 2002 | Ambrose Evans-Pritchard
http://www.freerepublic.com/focus/news/802137/posts
Dollar to collapse? [July 2007]
Telegraph.co.uk | 7/12/2007 | Ambrose Evans-Pritchard
http://www.freerepublic.com/focus/news/1923867/posts
If Eastern Europe falls, world is next
Telegraph | 2/14/09 | Ambrose Evans-Pritchard
http://www.freerepublic.com/focus/f-bloggers/2187277/posts
Ambrose Evans Pritchard: Way Too Reasonable
Seeking Alpha | June 7, 2009 | Tom Lindmark
http://www.freerepublic.com/focus/f-news/2266827/posts
America slides deeper into depression as Wall Street revels
The Daily Telegraph | 10 January 2010 | Ambrose Evans-Pritchard
http://www.freerepublic.com/focus/news/2425377/posts
Reflections on The Death of Paper Money
telegraph | 7:05PM BST 25 Jul 2010 | By Ambrose Evans-Pritchard
http://www.freerepublic.com/focus/news/2558967/posts
Ambrose Evans-Pritchard Apologises for Being Wrong on QE and Stimulus Spending
The Oracle | 28 September, 2010 | Nadeem Walayat
http://www.freerepublic.com/focus/news/2597797/posts
Excerpt;
* * * The IAEA said that about 200,000 people had been evacuated from a 12-mile (19-kilometer) zone around the two Fukushima plants that house a total of 10 reactors. * * *In all, 22 people were hospitalized after being exposed to radioactivity, according to AFP, although it was not immediately clear to what degree they were exposed and what their condition was. Local media cited by The Wall Street Journal said that up to 190 people might have been affected by radiation. * * *
Of course, we all know that governments never lie or hedge the facts in favor of the govt. Japan has been lying since this event unfolded. And our govt does not want to notify millions on the west coast to be concerned about radiation traveling all the way from the Nippon Coast
LOL LOL !
I understand that but thank you for further clarification. Again, "treason" need not have narrow legal meaning. Consider for instance its application to some act in France or Australia: whatever is labeled as treasonous, whether fairly or not, lies outside the realm of our Constitution. It is not in the constitutional sense but in its general sense that I was using this word.
One would suspect that they would be opposed to having it serve that role
Very true; consistency is not a pronounced feature of the isolationists' worldview.
I share the feelings in this particular case, however. It is one thing for us to debate whether the existence of a single reserve currency is desirable or whether the demise of the dollar as such currency is inevitable. It is something altogether difference, however, when a U.S. official, be it a member of the administration, Congress or the Fed, precommits to stand aside should the dollar collapse occur. I do find Geithner's statement to be nothing short of preposterous.
It well may be that I am overlooking something essential here, something that mitigates Geithner's behavior. Please tell me if so. What do you think of this?
THANKS THANKS.
Hmmmmmmmmmm
When is it time for potassium iodide?
Excerpt:
* * * Japan's nuclear safety agency said on Sunday levels of radiation at Tohoku Electric Power Co's Onagawa nuclear power plant rose due to the leakage at TEPCO's Fukushima plant, which is 100 km (60 miles) south of the Onagawa complex * * *
Still the US and Japan say, "Nothing to see here. Time to move on."
LMAO - ROTFF . . . LOL LOL !
“All you FReepers calling Ron Paul and Alex Jones a kook, what do you say now?”
Ron Paul is a kook.
Based on the Nuclear Fallout Map in post # 134, I would say in about 8 days. If our corrupt federal government gives the official go ahead. Otherwise we on the left coast will all be glowing in the dark like flaming Obamatrons
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