What would happen if the Secretary of the Treasury of the United States were to announce that the Obama administration was open to seeing a global reserve currency run by the International Monetary Fund? Unfortunately, this isn’t a hypothetical question.
The Micro Effect reports:
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.
Is Tim Geithner the worst Secretary of the Treasury in the history of the United States? Corruption and ineptitude are bad enough on their own, but seem fiscally lethal in combination.
Source: TheMicroEffect.com
This post was last modified on January 26, 2021
View Comments (17)
Serious question
Why do Democrats look either like nerds or lascivious freaks?
Discuss
. . . . because they ARE. . . ?
Uhm okay and you gave me a thumbs down?
:-/
Idiots are in charge of public institutions - but because they're left wing idiots, the media goes all Charlie Sheen or Nuclear Apocalypse.
If the right wing were in charge, it wouldn't matter if they were idiots or not, the left wing media would attack them incessantly - which results in more left wing idiots being voted in charge.
Borrowing more in february than all of 2007 - and the only people who point out that there's a problem with this is the Tea Party - and they get attacked for it by 'journalists' who themselves should be pointing it out! Sigh...
Another step on the way to one World Order. Keep laughing and telling us we are paranoid. See what the final result is.
Timmy the Toad strikes again
Another step to giving away the sovereignty of this nation to those hate it. What a buffoon and a tax cheat on top of that.
Someone in congress should ask at the next committee meeting what qualifies him to speak about monetary issues. He's just one of those evil Wall Street Bankers that his boss bashes all the time.
I agree with michaelht1 and Renie regarding impeachment, but not with banishment or imprisonment, no, I want vengence...I want blood. Find a nice sturdy oak tree and hang them, or a nice thick cement wall and shoot them full of holes, or buy a guillitine from France. You get the picture...
If you think Geithner is a tool, have you looked at Bernanke? Hey, guess what, Keynesians, your theories are proven to not work! Allow me to quote Herman Cain for a moment: "Stupid people are ruining this country."
Jesus, this guy is an even bigger tool than Obongo, and that's saying something.
At lease the traitorous piece of trash got it out in the open finally. Now the United Nations, and the World Bank (which is not really a bank) can stop screaming they want an international global currency, which was the obama agenda from the start. For the damage obama has caused to this nation, he should be charged with sedition, impeached, he and Michelle Antonietta can move to any socialist country they choose and take their bank roll buddy george soros with them.
I agree wholeheartedly with you on the impeachment idea, but both he and mrs.ob should be imprisoned and pay restitution for what they have done to this country and they should never receive another penny of the taxpaying American's money. They are disgusting.....
Watch the impeachment unless you are recalling Foot-in-mouth Biden.
There is a storm coming. Stock up on precious metals; Gold, Silver, Brass and Lead.
This fool and the milquetoast administration has just signed the dollar's death warrant. Almost time to remove them forcefully.
Almost?? Time to remove them before they do more damage....why are they towing the line to China anyway?? Is that who is really backing them?
China is backing all of us. They OWN the US.