Skip to comments.U.S. Backing for World Currency Stuns Markets
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 worlds 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 dont 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.
Click the image below if you dare to open your eyes . . .
The Federal Reserve Bank is owned and run by a secret cartel of foreign banks. As a private corporation it is ruled by the profit motive. They profit whether the U.S. economy thrives or flounders. That is why they bribed and threatened members of Congress last year to oppose Ron Pauls legislation that would have audited the Fed. That legislation had over 320 co-sponsors.
But Paul's effort failed because of cash bribes made by Wall Street to our corrupt Congress. Democrat or Republican -- Most of them are the same: Greedy elitist bastards for the most part. LOL, LOL !
He should be arrested and charged with Treason!
These Crooks are not projecting the will of the American people! Get rid of them!
Someone Smack this guy in the back of the head, his brain is skipping.
If they’re truly stunned that this treasonous admin. would express such sentiments, they haven’t been paying attention.
I could just see Obama yelling “SHUT UP TIM, you’re not supposed to say it out loud!”
I want to believe Alex Jones is looney horseshit, but these are the times I think he might be right on a handfull of issues.
If my opinion is correct, look for the dollar to be crashed before the general election.
Here come Obama dollars.
The original article...
Article I, Section 8 of the US Constitution assigns responsibility for regulating the value of US money to Congress. IF Congress disagrees with the action of the Treasury Secretary, it (Congress) has plenary power to do something about it.
Geithners quote is two years old. Where did you dig this up?
Date on the news source is March 10, 2011
If the Republicans don’t start a recall on Monday, I have no hope at all for this country.
It's not much of a secret.
As a private corporation it is ruled by the profit motive.
The government of the US is a private corporation, headquartered in Wash, D.C., which is not a part of the 50 States of America.
If the dollar is no longer the worlds currency you better have gold, silver, or some other precious metal to trade or be totally able to sustain yourself because that will be the point that tshtf.
I realize that folks have considered me the resident totally looney resident FR Kook for more than a decade for warning about just this event . . . and related events to follow, including the injectable chip Mark of the Beast.
However, I take absolutely no pleasure in being confirmed about such things by such news items.
May God have mercy on us all.
INSURE YOU ARE READY TO MEET GOD, FOLKS!
The Japan Quake is hardly the warm-up. It may be the muffled warm-up to the warm-up.
There are claims, of course, that it was a deliberate exotic weapon triggered quake by the same folks bringing us the world currency . . . and that the New Madrid area will be their next target. We shall see.
Regardless . . . the pace of changes and the dramatic nature of the destructive traumas are all increasing.
Folks willfully blind to what’s going on will increasingly be caught with more than their pants down.
What is the exchange rate of Obama dollars to Schroot bucks?
This is insane, but not surprising.
IF it happens, it will be muffled, sabotaged, neutralized well before any effective result.
Just when you think they can’t hate America any further, they turn it up to 11.
It is not stunning to those of us who know that our central bank (the “Federal Reserve”) is more devoted to the cadre of central banks which it is just another member of than to the US.
They are all radical anti-Americans who seek to reduce America to just another country ruled by a global-level central bank.
If that happens, all people of the world will be slaves.
All you FReepers calling Ron Paul and Alex Jones a kook, what do you say now?
the rest of the world is starting to realize they can only grandstand for socialism if the USA is not socialist
"By Ambrose Evans-Pritchard 6:05PM GMT 25 Mar 2009"
This thread should be fun when the FreeRepublic Federal Reserve Knee-Pad Squad arrives to explain how everything is just fine and under control and you don’t have to worry about anything.
And we aint seen nothin yet. The media is going to absolutely apoplectic. Those who watch without knowing prophecy and trusting in God are going to be immobilized in fear.
The bottom line is that Geitner and Obama care much less about doing the right thing for their country than looking good to their fellow elitists.
If Alex Jones is correct, it’s the stopped clock syndrome.
The New World Order is in charge. I guess this is the outcome because I don’t see anyone fighting it at all.
We have become pathetic pawns.
The Fed is not our friend. Keep watching Obama TV because it supports the NWO and supports making you a serf.
Great leadership, guentner, you tax-cheat loser.
these NWO bastards should be shot on sight...
Just fundamentally transforing America as promised.
It’s 2:1 if you’re talking Iraqi Kiwi’s.
Obama was sent a copy of the exact replica NWO currency.
Obama and Soro’s are all for it and they love chaos to usher it in.
Does someone have the link of Obama getting the new currency I lost it.
We should demand to know who the Stockholders are of The Federal Reserve. That list has never been made public since The Fed’s founding.
Now that is something The Paul’s, father and son, could be doing.
....and a year later....
I’ve always maintained that America had to be neutralized in some way for Israel to be cut loose on her own. It’s all in prophesy. I’m not some wild eyed bearded fanatic but I do pay attention to what’s happening in the ME. When Israel is about to be destroyed is when Messiah returns to save her.
It's still an OMG ...