Welcome to the APBWeb.
Results 1 to 3 of 3
  1. #1
    pgg's Avatar
    pgg is online now Damnit, I'm hungry again.
    Verified LEO
    Super Moderator
    Join Date
    Fled the Emerald Triangle
    Rep Power

    Geithner says Dollar strong, gets laughed at

    Geithner backs strong dlr, says China's assets safe | Markets | Markets News | Reuters

    Geithner backs strong dlr, says China's assets safe
    Sun May 31, 2009 11:57pm EDT Email | Print | Share| Reprints | Single Page[-] Text [+]

    BEIJING, June 1 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday reaffirmed his faith in a strong dollar and reassured the Chinese government that its huge holdings of dollar-denominated assets are safe.

    "We believe in a strong dollar," Geithner said in a question-and-answer session after a speech to students at Peking University. [ID:nPEK144756]

    A major goal of Geithner's maiden visit to China as Treasury secretary is to allay Beijing's concerns that Washington's mushrooming budget deficit and ultra-loose monetary policy will undermine both the dollar and U.S. bonds. China is the biggest foreign owner of U.S. Treasury bonds.

    "Chinese financial assets are very safe," Geithner said. His response drew laughter from the audience. (Reporting by Glenn Somerville; Editing by Alan Wheatley)
    'Political Correctness is a doctrine fostered by a
    delusional, illogical liberal minority, and rabidly
    promoted by an unscrupulous mainstream media, which
    holds forth the proposition that it is entirely
    possible to pick up a turd by the clean end!'

    A fear of weapons is a sign of retarded sexual and emotional maturity. Sigmund Freud

  2. #2
    Odd's Avatar
    Odd is offline Cosmonaut Trainer
    Supporting Member Lvl 3
    Join Date
    Rep Power
    I don't have confidence he knows why they were laughing at him. The other scenario is darker.

  3. #3
    Morris is offline Chief Wheaties Pisser
    Verified LEO
    Join Date
    Just outside Latteland
    Rep Power
    The dollar is the closest it has ever been to a complete collapse. We are literally months away from hyperinflation because of the necessity of the treasury to print money that have no assest to back up. You can already see major players pulling away from dollar backed assets. When Gold gallups upward, stand by and pray for the best.

    Geitner is a complete tool and buffoon. He will be a major instigator of the collapse.



Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Tags for this Thread


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts