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. It's almost as if each and every principal member of this administration is doing his/her level best to tear our country down.
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. And so the need is established for yet another constitutional amendment, forbidding the US government from establishing any foreign currency as a form of legal tender within the US., nor permitting them to back any foreign currency with US government securities.
#2
They're not a real enemy. They're a conspiracy of maggots. Wherever they see rot, they congregate. Wherever they see vibrant life and strength, they whine and squirm. It's unpleasant to witness maggots -- they highlight the rotting corpses in modern American institutions and laws.
You will know the day a real enemy of the American people runs Washington -- freedom of speech will be under direct attack.
#4
hell, we thought the attacks on freedom of speech were increasing back when they blamed the OK City bombing on Rush Limbaugh. Some people just chose not to notice.
#5
" As I've asked before, if this administration was the enemy of the American People what would they do different?"
If, Hellfish?
Posted by: Barbara Skolaut ||
03/13/2011 20:24 Comments ||
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#6
Fine Geithner speaks Chinese but the rest of us don't want to, we like English and being American with our money in our bank accounts. I guarantee if he tries this stunt there will be a revolution and someone will pop a cap in his @#$.
Posted by: Fi ||
03/13/2011 20:41 Comments ||
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#7
Of course Tax Cheat Geithner and the pols are all "open" to a one world currency. What a delightful method of finally destroying the worth of the USD and starting over under some new amd improved system. The curremt 40 year (3-4% per annum) inflation scheme will never catch up with their wreckless borrowing. Throwing the entire system out (along with those pesky 401k's and retirement plans) would be a far more immediate cure. Social Justice enacted through the monetary system itself! That's the ticket.
#8
The USD has already been destroyed. The only question is when we return to a non-fiat currency. The longer it takes, the further maggots get to feed on rotting institutions.
#9
No it hasn't. Cuts are going to happen. We've finally canibalized ourselves to the point where its do or die.
Posted by: Fi ||
03/13/2011 23:23 Comments ||
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#10
The longer it takes, the longer people who are finally catching on will have to prepare. Nevermind the maggots - I hope extend-and-pretend lasts a few more years. 5 would be nice. I plan for 2 or 3.
There are two ways to get rich: make more than everyone else, or lose less than everyone else.
The Democratic state senators who left Wisconsin to protest Republican legislation to weaken union rights for public workers returned Saturday to thousands of supporters who pledged to continue fighting.
Speaking to reporters earlier in the day, Hansen choked up as he talked of the stresses of life on the lam and of missing home and family. Chokes me up, just thinking about their life on the lam. Who paid for their rooms and feeding, I wonder? The Wisconsin Democratic Central Committee, I've read. In turn they get their money mostly from unions, who get it from their members, who get it from the state. Nice circle of life.
"So people think this is a picnic for us - they're wrong," he said. "We did it for the right reasons. We stood up for our working men and women in the state." And stepped on the remaining voters, who elected a Republican House.
He said it was difficult to keep all 14 senators united as pressure grew to return to Wisconsin. Hey, man, not all of us have girlfriends/interns in Illinois!
We're on a high," Hansen said. "We lost the battle, but we're going to win the war. I think we've got the momentum on our side. Every poll I've seen, the people believe in what we're doing. It's about standing up for democracy." Or running away from it, as the case may be.
Posted by: Bobby ||
03/13/2011 13:06 ||
Comments ||
Link ||
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#1
Dirty Bastards.
Posted by: Redneck Jim ||
03/13/2011 15:30 Comments ||
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A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
The Democratic state senators who left Wisconsin to protest Republican legislation to weaken union rights for public workers returned Saturday to thousands of supporters who pledged to continue fighting.
