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.
The shareholders who saw the stock drop from $95 to $57 appreciate the statement. They'd appreciate not losing 40% in the last year a little more.
LOL! You'd think their impressive record of economic prognostication would have lead to a rising instead of a falling stock price. They're so good, you'd expect an annual profit instead of a $9.69 per share loss.
Sorry for laughing, but my predictions for the last year seem to have worked out much better than Merrill's.
What do you imagine I need to defend here?
Toadster, if I ever discover you where involved, in any way, with sending damaging computer viruses to anyone on here
LOL! You're funny. Your delusional friend was attacked by the Russian mob. They planted explosives in his front yard.
Be sure to ping me if you or your girlfriend ever find any proof for the claims you made in post #232.
Wow, who knew a simple blog pimp could also be a brilliant in-depth market researcher and economic forecaster? Is this the same brilliant forecaster who began predicting doom in 2002? I guess if you predict something for a long enough period of time, you too can become a brilliant in-depth market researcher and economic forecaster.
Apparently it doesn't require much intelligence these days to be considered brilliant.
ROFL! I'd forgotten about that. Yeah, He took on Murder Incorporated because getting the truth out was so important to him. What an idealist. I guess he proved to be too tough and the mob gave up. Sure.
Wasn't he also the one who was going to wait until doomsday and then "swoop down and scoop up" all the foreclosed properties, flip them, and then retire on the Italian Riviera livin' large? I'm sure that's worked out for him just as well as his rendevous with the Russian mob.
No doubt, he's posting from his beachfront villa in Rapollo right now rather than some hovel in Portland. Sure.
Lots of posers, liars and economic illiterates on this thread. When do you think we'll finally see some proof for the original accusation made way back in #232. I see lots of vitriol and posturing, but not much in the way of proof.
You must have really spanked these crybabies good.
He is brilliant, just look where he lives.
Like the truth about banks making money on foreclosures. I wonder if he still thinks banks make money on foreclosures? He must be a math major. LOL!
Good thing those russkies didn't plant the bomb closer to his hovel. It could have been a total loss and cost him hundreds.
Well, if real estate flippin' doesn't work out, there's always blog pimpin'. Everyone needs a dream and it's always good to have a fall back position.
OR
He is very jealous of anyone doing better than himself.
Didn't you hear? After the Russian mob tried to shut down his site with viruses and hacking, they finally got his provider to shut him down. Very sad.
He’s a baby that needs to be always right.
And extremely immature. NO humility, no grace, no concern for the peoples lives he’s ruined with his falsehoods.
Satanic, really.
Brilliant indeed! I especially liked this gem.
Insiders unloaded 27,316,339 Shares for about $ 70 + per share on February 14, 2008 . . . For a profit of about $ 2 Billion ! ! ! !
http://www.freerepublic.com/focus/news/1986973/posts?page=112#112
ROFL! This is the kind of math the other idiots on this thread practice. That's why they end up wallowing in their own stupidity and react like a bunch of annoying crybabies when they get schooled.
It's even worse than that. It was a list of major holders not inside sellers.
Here are just some of the threads confirming that Todds has been saying their was no problem with housing. And even one about Lehman.
Jan 2008 The Economy is Fine
“With housing so weak, the recent softness in production and durable goods orders is understandable. But housing is now a small share of GDP (4.5%). And it has fallen so much already that it is highly unlikely to drive the economy into recession all by itself.”
http://www.freerepublic.com/focus/f-news/1961366/post
“But I heard we’re doooomed!” post #1
Oct 2008 Fears about Lehman CDS Deadline Overstated
http://209.157.64.201/focus/f-news/2111754/posts
” Not doomed?” post #1:
Aug 2007 Consumer Spending Rebounds in July
http://209.157.64.201/focus/f-news/1889337/posts “We’re still doomed! “ post #1
May 2007 Housing Index Decline
http://209.157.64.201/focus/f-news/1841406/posts
“How can some markets rise if we are doomed?” post #1
Nov 2006 Home Sales Fall in 38 States
http://209.157.64.201/focus/f-news/1741656/posts “It’s true, the bubble has burst. Median sales price down 1.2% YOY. We’re doomed.” Post #1
And Toddy, I know you won’t be a man and admit any of this.
“Are you claiming I ever called her a commie? Or is your testimony a lie?”
YOU ARE THE LIAR, LIAR.
Watchdog says overhaul didn’t end future bailouts (Special Inspector General Neil Barofsky)
http://www.freerepublic.com/focus/f-news/2663297/posts
Wednesday, January 26, 2011 7:55:19 AM · 6 of 6
Toddsterpatriot to FromLori
“Ok Soros.”
That’s not how you spell commie. Try again? LOL!
Now you will never know when I will post somewhere on a thread your evil lying posts from the past.
Tah, tah, toady.
Run away, again, clown.
You can run, but you can’t hide.
I guess you don’t have much of a life, do you?
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