Skip to comments.Geithner vows to defend strong US dollar policy
Posted on 04/26/2011 9:30:05 AM PDT by Hoodat
US Treasury Secretary Timothy Geithner vowed Tuesday that the United States would never follow a strategy to weaken the US dollar.
"Our policy has been and will always be, as long as I will be in office, that a strong dollar is in the interest of the country," Geithner said at a New York conference organized by the Council of Foreign Relations.
"We will never embrace a strategy to weaken the dollar."
It was the first time this year that Geithner had publicly proclaimed a US strong-dollar policy, a mantra of treasury secretaries for more than a decade.
In the year to date, the dollar has lost 6.5 percent of its value compared with a basket of currencies held by its major trade partners.
(Excerpt) Read more at breitbart.com ...
WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH
DEMOCRATS ARE PATRIOTS
Well said and unfortunately true.
” Look at which company stands to get the most out of this and buy buy buy. “
A year, or even six months ago, I would have suggested that you re-check the source - perhaps you meant to type “ONION”, and “BREITBART” came out....
Now, it’s become commonplace for so much that the Obama Regime says or does to far outstrip anything a satirist, in his most nihilistic moment, could come up with....
“”We will never embrace a strategy to weaken the dollar.””
Then what have they been doing for the past 2 years? This Ivy Leaguer is either a moron for letting the dollar weaken over the last two years or he is brilliant in his Marxist strategy of weakening the dollar.
REAL PATRIOTISM IS TREASON
He’s right. They are not following a strategy to weaken the dollar, they are blazing a trail.
Timmy’s pants must be smokin’.
>> “We will never embrace a strategy to weaken the dollar.”
Well, I’ll be. I never figured I’d laugh so hard I’d pee from something *Geithner* said.
These Obama people occupy a surreal world that’s quite removed from my own. How do they do it? Drugs?
Hey Tiny Tim, explain this: In what ways would a strategy to weaken the dollar differ from the policies you currently have in place?
Here's a classic textbook case of Liberalism 101. Liberals are moral relativists, and as such, truth and lies are whatever they make it to be as it best serves their purpose at that time. If it's to their advantage, then whatever they say, they will strongly defend it to be the absolute truth (at that time). They have no remorse in looking you square in the eye and without blinking tell you that they mean you no harm, while at the same time be slipping a dagger deep into your back.
The idiot vowed to raise the debt ceiling the other day so this is all he means really.
That may be his goal however he is clueless as to how to do it.
It's like I used to say to my cubicle co-workers: "Oh sorry, I wasn't eavesdropping ... I was just listening to your conversation."
Helicopter Ben must have told him to slow down the metals bull market with rumors of a strong dollar. I guess they’ll pursue a strong dollar policy after they shore up the $1.6 trillion budget deficit.
-—”Our policy has been and will always be, as long as I will be in office, that a strong dollar is in the interest of the country,”-—
Yes it is in our best interest. Problem is you and your ilk don’t give a rat’s @$$ about what’s good for the country.
What do you mean past 2 years? How about the 8 years during Baby Bush’s administration trying to deflate the dollar to spur exports. Greenscam spewed the same words all during Bush’s tenure all the while the dollar continued to sink against the Euro. I went to Paris in 2000 and back then the dollar was at par with the Euro. When Bush left office, the dollar was about $1.50/Euro.
No, dollar devaluation has been going on a long time. The only difference is that Greenscam wanted mild devaluation to spur exports. BurnYankee wants strong devaluation to spur a few years of double-digit inflation to reflate house values and to prop up the national debt against devalued dollars.
If they could magically double the price of all wages and assets by depreciating dollars 50%, that would double GDP in nominal terms while the debt stays the same in absolute terms, halving the national debt against the now “doubled” GDP.
This is the plan, but it is not as if Baby Bush wanted a strong dollar, he just didn’t devalue it as rapidly.
He can really lie like it’s nothing. The level of moral turpitude required to be that destructive, in plain sight, and lie to everybody your screwing, in front of them, while you are screwing them. He would be fascinating to study in a cage.
And, no, I don't think your crayon colored version of the 100 trillion dollar bill is a good idea.
LOL. The dollar's been nosediving ever since W went on a spending spree, demonstrated that he was economic idiot, and stated that he supported a strong dollar. Obama's been following in his footsteps.
The weak dollar is a consequence of their America destroying polices to help the elites, and screw everybody else. They don't need to embrace a separate strategy.
... by bailing out banks and labor unions, helping to pass pork spending bills, handing out money to special interests, taking care of my colleagues at Goldman, supporting the unlimited printing of money, and not paying my taxes.
I think Geithner, Napalitano, and Obama are using the same “Life Coach”.
These people are all in serious peril if they ever plan on using their law degrees. Fraudulent statements can get you disbarred.
Oceania is at war with Eastasia. Oceania has always been at war with Eastasia.
Billions ‘reallocated’. They are set. Greed for the sake greed is only international monetary momentum.
There are some things that Timmy and O can put into place to strengthen the dollar.
1) Tighten credit by 6+ basis points. Credit is too cheap.
2) Make it the govt's mission to INsource the jobs that American's have lost to outsourcing in the last 2 decades. And stop insourcing foreigners on various H1B programs to STEAL American jobs! (of course that would probably stop companies from bribing congressmen through campaign contributions!)
3) Close the borderS so that American's can do the jobs that American's won't do.
4) Repeal the Community Reinvestment Act so we don't have another explosion in the mortgage markets.
5) If banks are in too deep with derivatives, then let them deal with them themselves. NO MORE BAILOUTS!!!
6) Identify banks that are 'too big to fail' and break them up as monopolies.
7) Don't appoint anyone else from Goldman Sacs as Treasury Secretary.
8) Stop the Fed from printing money that doesn't have some basis in reality.
9) Stop with the borrowing to get out of debt idiocy already!
And finally #10) BALANCE THE FRICKIN BUDGET ALREADY! DON'T RAISE THE DEBT CEILING AGAIN!!
Not that it'll do any good. I just wasted a few breaths I guess.
He is also a brilliant swindler who says one thing and does another, after his insider buddies have placed their bets accordingly.
Because your plan is largely logical, it has no chance of actually being implemented.
” ... by bailing out banks and labor unions, helping to pass pork spending bills, handing out money to special interests, taking care of my colleagues at Goldman, supporting the unlimited printing of money, and not paying my taxes. “
We need a new law. All politians need to have at least 20 years experience working in a real world job outside of politics or law before they can be placed on a ballot anywhere in the Union.
lol. Another fat chance.
Giethner needs to take a urine test for illegal drugs.This guy,Obama and the Federal Reserve destroyed the U.S.Dollar already and he claims he’s going to protect it.
A day late and Eighty trillion dollars short.