6/3 China Told To “Calm Down” About The Dollar
Posted by Editor on June 3, 2009 · 34 Comments
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34 Responses to “6/3 China Told To “Calm Down” About The Dollar”The Restoring Honor Rally August 28, 2010
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If somone that owed me money was going to unrecoverable debt I would be concerned. I thought the day would never come when I would say this but I am glad the Chinese are lecturing Timmy.
This news article seems to be missing the story where Geithner talked to Chinese students at Peking University and told them that an investment in the US was sound, and they laughed at him.
http://www.gata.org/node/7461
Hey, I'm not one to readily come to the defense of a communist country but when the US asks that country to back our dollar and they are upset about their investment, they are in the right to do so. China sees that the dollar is devalued and will become more devalued when inflation starts to seep in. Our Genius Timmy should get HIS finances in order before telling another country with a lot to lose to "calm down" about the dollar.
Little Timmy can't even sell his own house, to pay for it!!! He had trouble paying his own taxes!! And he say's everything is going to be alright?? He's not doing enough to convince me!!! He's old enough to remember the 70's, Inflation, energy crisis, etc. Things get worse before they get better, and usually there's a change in the administration and legislation before the "better" part. I hope the U.S is able to pay this debt off, but I don't think
we will in my life time. I just don't know what will happen when they come to "collect" if we default?? I have a daughter and grandchild on the way, God willing they will be around for a several decades, so I have a vested interest in the outcome.
The only good thats comming out of this, is that I'm starting to hear some grumbling about our debt from the left. Maybe just Maybe this runaway spending train will slow down enough so we don't loose our whole economy.
No problem for the S.ofTreasury…………………..
………just print somemore money and throw another I.O.U. in the basket!!!
Business as usual within the Beltway???
They, the Politicians could care less, because they already have their Golden Parachutes fluffed up if they need to bail out !!!
A man walks into the bank that holds his home loan. He askes for a 2nd mortgage so he can pay the power bill, gas bill, car payment, vacation, college for his kids and his friends kids, the interest on his home and household expenses for his neighbors. The banker looks at hiom funny and says, " I appriciate your kindness toward your friends and your desire to pay your bills, including the interest you owe to us, but you don't have a job." The man says, "Don't worry I am good for it." The banker says, "Ok, good enough, we will give you the money, tomarrow….NOT HAHAAHAHAHAHAHAH
"Unless we demonstrate a strong commitment to fiscal sustainability in the longer run, we will have neither financial stability nor healthy economic growth," Bernanke told the House Budget Committee. "Maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance." – Ben Bernake…..The White House estimates a $1.8 trillion budget deficit this year — quadruple last year's record high. That will push the debt-to-GDP (gross domestic product) ratio up to 70% by 2011, Bernanke said, from 40% before the global economic meltdown began. At that level, the ratio would be the highest since right after World War II. When are we going to say ENOUGH ???
Listen, there are over 650 million members here….with a spouse or friend who feels the same, 1.3 million total voters!! IT IS TIME TO ACT !! START SUPPORTING YOUR INDEPENDENT/LIBERITARIAN CANDIDATES NOW. It's time to truly create a 3 party system and send the message in 2010 "WE WILL NOT TAKE IT ANYMORE !!!"
Unless we demonstrate a strong commitment to fiscal sustainability in the longer run, we will have neither financial stability nor healthy economic growth," Bernanke told the House Budget Committee. "Maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance." – Ben Bernake…..The White House estimates a $1.8 trillion budget deficit this year — quadruple last year's record high. That will push the debt-to-GDP (gross domestic product) ratio up to 70% by 2011, Bernanke said, from 40% before the global economic meltdown began. At that level, the ratio would be the highest since right after World War II. When are we going to say ENOUGH ???
Listen, there are over 650 million members here….with a spouse or friend who feels the same, 1.3 million total voters!! IT IS TIME TO ACT !! START SUPPORTING YOUR INDEPENDENT/LIBERITARIAN CANDIDATES NOW. It's time to truly create a 3 party system and send the message in 2010 "WE WILL NOT TAKE IT ANYMORE !!!"
"calm down" I'll pay my taxes next year…really…
So, Turbo Tax Cheat Tim is at it again, giving financial advice? Even China knows that taking money advice from "that one" would be like Dracula telling you which blood bank to donate to. That's why they are still laughing at him today and laughing at Obama for sending him. Obama should have sent Biden as he could have at least given us something to laugh at and China wouldn't have understood him.
It would be interesting to know if Timmy's portfolio had some yuan backed securities that are doing very well. I doubt I could be more cynical about this crowd even if I worked at it.
"He said there will be enough demand for record sales of U.S. debt." — Oh good Lord. — Yu Yongding, a former central bank adviser who acted as the interviewer for the China Daily newspaper, told Geithner: “I worry about details. We will be watching you very carefully.” — Yeah, we are too Yu. — "He said that there was 'no risk' of the U.S. monetizing its debt" — Apparently no one has informed this jackass we've already monetized 2 trillion. — "Treasury yields increased by the most in eight months yesterday " — What that means is interest rates will rise making it harder for people to get financing. That's not exactly the best way to get the auto industry and housing markets going again. It really makes me wonder what the stock market is seeing that I am not as it on average has been on the rise. Everything points to our being in this recession for the long haul.
Now we have to believe what Tim "tax cheat" Geithner is telling us, and more importantly what he is telling China!
Geithner was stupid enough to think Turbo Tax didn't notify him of the taxability of all his Income. Maybe he never added all of his Income on purpose! I have used Turbo Tax for many years, and believe me, if you add all your income, it will alert you!
China is not that stupid, and there will come a time when they will say, we don't want to buy anymore of this questionable debt! China is our only salvation with Obama's debt!
Geithner burnt our Dollar… we will not even feel the effects until we begin to recover from this depression… China knows exactly where our situation stands, thats why they laugh. the more our dollar falls, the more Geithner will look to a "world currency"…. its almost as if his plan WAS to destroy our dollar.
China scares me, i believe their master plan is to suck us dry and when they're done they will pull their two Trillion dollars out of our economy all at once. in the mist of all that they will step up these little military skirmishes until a formal response is required, then we will be at a real war, with China, Russia, N. Korea, Iran and dozens of Iranian militant groups such as Hezbellah or Hamas.
I bet Tiny Tim was never so happy to get home in his life! Having to kiss all those butts … now he has something in common with the mainstream media in this country.
hahahaha …. Nooooooooo .. we would never moneitize that debt …… that would never happen …… starting tomorrow.
The fact I found encouraging is that the american people have begun to INCREASE their rate of savings, while DECREASING their personal debt, unlike the idiots in Washington (Dem and Rep). If they keep their jobs long enough, we may see a light at the end of the tunnel that is not the Depression Express coming at us. I know it's a long shot, but maybe we can fix our own personal house of cash/credit and be somewhat prepared when Washington finally spends this country over the cliff. (I know, "hope springs eternal", but I gotta' be positive, once in awhile or I'll have blood shooting out of my eyes again!)
Timothy Geithner put the burden and responsibility directly on the back of Federal Reserve Chairman Bernanke to keep inflation low and stable and America in good shape. Guess we know who's fault this will be when things go sour, not Pres. Obama for spending more than anyone in History. This debt is unsustainable, Timmy!, basic math retake the class. Timmy reign in the spending once we are stable, why are we spending without the means for repayment to begin with!
The boy buffoon Giethner tells China to relax about the dollar. The Chinese, largest U.S. creditor is worried about monetizing the debt. Hey Secretary Giethner, are you going to tell the people who are going to pay the debt not to worry too? Sir I have a dunce cap with your name on it. You and your boss will have to go and stand in the corner in front of the rest of the class. Listen up will you?
Why do i have this sinking feeling that we will have to give up Hawaii or Alaska to pay this debt off in the future??
China has to walk a fine line since they hold our debt if they sabotage our money they lose too. I said this yesturday this is the first time our money has been even talked about as being a problem that in itself should be a warning to everyone!
The Chinese aren't stupid. They know Geithnier is a moron and are justifiably worried about the "details". This article is more propaganda. I would not be surprised if Geithner was lectured by the Chinese.
"Please don't stop buying our debt, we will need you for the next 3 years, unless we get re-elected then we will need you for even longer!!!" How will you pay the back Timmy? When unemployment is twice what it is now, our dollar is worth a pile of crap, and more and more people are on government payroll? Your going to raise taxes and interest rates. You will squeeze the stone for blood, but there will be none. How will you face the chinese when you know we cannot re-pay this debt? You see the plan isn't that HE or OBAMA will ever have to face the chinese, because it won't be their problem when they are out of office. Here is the real joke, it will be the next presidents problem. Specifically the next REPUBLICAN president.
Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha…..
Can the Chicom be any more relaxed? They are laughing their asses off at us…
hey, tiny Tim…..you better get a better Chinese / elf translator….if the Chinese people are laughing at you, this is NOT an expression of confidence…..I'm just saying
The Chinese know what is going on. They did the math. Geithner, Bernanke, and BH0 will be unable to stave off severe inflation. They will also be unable to curtail their spending, and our taxes, whether out in the open or hidden in your purchase of Pepsi, will certainly go up dramatically. If our dollar returns to truly safe status, it will not be because of these three stooges (my apologies to Curly, Larry and Moe). It will be because enough true Americans finally woke up and rose up!
Serendipity? The fortune cookie I got with my General Tso's chicken said "Beware of elf-like tax-cheats who speak with forked tounge about China."
Tax cheat Tim should quit his day job and take up his part time job, Stand up comedy. The students in the audience laughing at him, the rest of the world slowly pulling their funds out of America and again the world laughs at us. The once great economy is in a spiral down spin, and what does our government do, even after BH0 says,"we are broke", just what everyone normal American does, spend more money. H ell, this administration is the biggest joke since the Keystone Cops, if it was so tragic, it maybe funny, but I sure in H ell not laughing. Hey, BH0 supporters…."How's that Hope and Change working for you?" For me it S. U. C. K. S.
It is interesting that the chinese are more informed than the general public in america.
The dollar is getting weaker, this is a Geithner Dog and Pony Show. Geithner can't really believe his own words.
That does not sound like the report I heard, Glenn said the Chinese laughed at him when he told them the dollar was safe.
this was out of the mouth of tax cheat Gauthier that will put the chinese at ease