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.
Keep looking for your proof. LOL!
For some reason he he reminds me of the obnoxious grad student who always thinks he is the 'smartest-guy'* in the room.
Usually of Asian background.
Does he know that Ted Kennedy was a free trader too?
*, Who Never gets Lucky Wink wink ;^)
LOL, I know what you mean.
Yeah, Mr Smarty with a smart mouth.
I can’t imagine what his personal life is like.
I can’t picture a wife at all, either.
Yeah, struggling grad know it all student, with a Teddy streak. ;)
Thanks!
Hey, look who finally found his set of stones. Did your wife let you borrow them for the evening so you could offer us some of the same less-than-useless opinions you've made us suffer through for years? Are you just another illiterate who got slapped around when you couldn't support your posted nonsense and now feel like you can finally get some payback?
Now I see you've even taken to stereotyping Asians. In your world, do you only associate with brain dead redneck eunuchs like yourself? You need to spend less time being brave behind your keyboard and spend some time seeing the real world. Be careful out there though, you might run into some furriner looking folks, you backwoods hayseed.
You were right!!!
One of his buds is just as potty mouthed as he, maybe even worse!
Very abusive language - I bet he kicks dogs too!
“..so you could offer us some of the same less-than-useless opinions you’ve made us suffer through for years?”
If his opinions are so worthless, why do you spend so much time insulting him?
Or are you a bully, and internet bully at that, eh?
If you're going to spend your time here looking up at the curb you shouldn't get all sensitive and feign outrage when someone gives you a little of your own. Makes you look like a hypocrite....and a chick.
Hey, bozo, I am a chick.
Blow off, little boy.
And Mr littleboy lamebrain,
YOU were posting to a DIFFERENT Freeper, not me.
Don’t like being called a bully, eh? Too bad, bullyboy.
Go clean your room, your moma’s calling.
Maybe you should grow some skin if you're going to dish it out and then get all wee wee'd up when someone has the audacity to give you back some of your own. Didn't like it, eh? Tough.
Take your pick:
Whatever you choose, please spare us from the sanctimonious BS. You're in no position to say anything given all the invective you've spewed on this thread.
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.
You are bragging about this!!??? The schlump shareholders did not make a dime, because of you, if any of this even comes close to being truth.
This insane statement of yours proves once again you actually buy into the stockitis sucker bait. Pencil neck, have you ever heard of pre-positioning as in put options on individual stocks, or indexes to profit when a company's shares are expected to turn ultra-bearish? You are a certified public moron, and any one paying attention to you is brain dead.
In terms of Merrill's predictions, you are the only one speaking on that subject, all by your self in between munching on more mosquitoes.
"LOL! You're funny. Your delusional friend was attacked by the Russian mob. They planted explosives in his front yard.
You mean, especially the strongly suspected portion concerning you, swamp croak, sending damaging computer viruses to those who countered your non-stop shilling, mocking & lies. Recall well what I stated previously relating to hiding in the Federal Reserve building.
You clowns found the Merrill link, so let's go to that thread and you can tell me where I was wrong. Or you could run away, again.
The schlump shareholders did not make a dime, because of you,
Because of me? LOL! AFAIK, I wasn't working at Merrill when they lost all that money.
You mean, especially the strongly suspected portion concerning you, swamp croak, sending damaging computer viruses
Your delusional friend, who believes in chemtrails and Russian mobsters out to get him thinks I sent him a virus? How, in his fevered imaginings, did I manage that?
Recall well what I stated previously relating to hiding in the Federal Reserve building.
Wow, you are one scary dude. LOL!
Have you sent anyone on Free Republic a worm or virus?
No. How would someone do that?
Since you have lied about your previous comments on FR, your ‘no’ doesn’t cut it, Toadster.
If you ever find a lie, be sure to let me know.
If you ever get over your fear, be sure to comment on the Merrill thread. You know more about markets then your girlfriend, but that's a really low bar.
It would be interesting twist to see if you and clone 'Mase' could post some kind words about inflation, gold prices, bearish stock indexes, Little Timmy, the Fed whatever you like --- at the exact same time! That would indeed be fascinating, as amazing that you some how believe your on another planet, when it comes to reciprocity. Now isn't that funny LOL!
Prove it. Find a post where I lied. Or run away, again.
Is that Falsehood Ale? Or your usual fermented Bug Juice you hold on to?
The reason you have not seen jumbo jets spraying chems is you’re always on here shamelessly shilling for the banksters.
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