geithner says strong dollar is "ALWAYS" in US interests!!!!!

Discussion in 'Economics' started by S2007S, Apr 26, 2011.

  1. S2007S

    S2007S

    AHHHH another day another lie, you just have to love the way this guy talks his nonsense, everyday is more dribble out of his mouth. If they really cared about a stronger dollar they wouldn't have rates at historical lows, they wouldn't be be printing trillions of dollars to prop up the entire economy, they would NOT be raising the debt ceiling for the thousandth time and they sure wouldn't be announcing that a strong dollar is "ALWAYS" in US interests, they would just do what they needed to do to keep the dollar stronger. geithner doesnt care about the US dollar, he is making pretend that he does. Its just more worthless lies to make you think they really are in favor of a stronger dollar. Cant wait in the next few weeks to see how they handle the next dilemma, raising the debt ceiling!!!

    Strong Dollar Is 'Always' in US Interests: Geithner
    Reuters | April 26, 2011 | 10:03 AM EDT

    Treasury Secretary Timothy Geithner said on Tuesday a strong dollar "will always be" in U.S. interests and that the Obama administration would not undercut the greenback to spur growth.

    "Our policy has been and will always be, as long, at least, as I'm in this job, that a strong dollar is in our interests as a country. And we will never embrace a strategy of trying to weaken our currency to gain economic advantage at the expense of our trading partners," he said in response to a question after a speech to the Council on Foreign Relations.

    Touching on the fiscal debate swirling in Washington, Geithner also said the United States is in a better position than other advanced nations to manage its fiscal issues.

    He noted entitlements, such as Medicare and Medicaid, were a smaller share of spending in the U.S. than in other countries.

    Geithner said the chances of agreement by Democratic and Republican leaders on a path of fiscal restraint were better now than they had been at any time in the past decade.

    "We are a much younger country than the other major economies, we have much better underlying growth rates ... we started with a much lower overall debt burden as a share of our economy," Geithner told the conference in New York.

    "The size and expense of our commitments in the safety net are a much smaller share of the economy as a whole so we are in a much better position to manage through this."

    He added he was confident Congress will raise the U.S. debt ceiling, and said the harder issue was establishing fiscal rules to ensure future deficit reduction.

    "I'm completely confident that they'll do what's necessary," Geithner said. "What I want to make sure they don't do is to take us too far into June, take us too close to the edge ... At a moment like this, you don't want to leave people with any concern that they'll take too much time."

    "The harder thing ... is how you legislate a framework that can lock in meaningful fiscal reforms that get these deficits down to a sustainable level," he said.

    The White House has called for $4 trillion in deficit reduction to be phased in over 12 years or less. Likewise, top House Republicans are in favor of cutting $4.4 trillion in budget deficits over the next decade.

    Debates over how to get the country's fiscal house in order are coming to a head with Republicans threatening not to allow the Treasury to borrow more unless the government makes deep cuts to spending.

    The deadline to raise the debt ceiling or legal amount the U.S. can borrow is looming and Geithner has already warned of catastrophic consequences if Congress fails to do so by mid-June.

    Treasury predicts the $14.3 trillion debt ceiling will be reached by May 16. The department then has about 8 weeks to employ emergency measures to give the country more room to borrow before the United States begins to start defaulting on its loans and other obligations.

    Obama has proposed a debt trigger to force spending cuts if debt levels do not decline as planned.
     
  2. He is not in a position to claim otherwise.


    What do you expect him to say?

    We are all doomed, the USD is toilet paper buy silver gold and guns?

    I like the term boxed in to describe the situation the FED and other central banks find themselves in for quite some time now and all their statements and handlings only support that view of their position.
     
  3. elon

    elon

    It amazes me that the average American has no idea this is happening.
     
  4. the1

    the1

    So true. The average American is oblivious. All they see is rising gas and food prices and bitch about that. They haven't a clue what is causing this rise and Obama goes on TV and says there is no one solution to bring the price of oil down. There sure as shit is. Put the breaks on the printing press.

     
  5. Giethner is right....a strong dollar is always in the best interests of the US.

    But its kind of like a student who says getting straight A's is in his best interest, but he spends all his time cutting class and smoking weed.
     
  6. rew

    rew

    <i>He noted entitlements, such as Medicare and Medicaid, were a smaller share of spending in the U.S. than in other countries.</i>

    He failed to not that defense spending dwarfs that of any other country on earth and nobody but Ron Paul really wants to cut it.

    <i>Geithner said the chances of agreement by Democratic and Republican leaders on a path of fiscal restraint were better now than they had been at any time in the past decade.</i>

    What the Democrats and Republicans have "agreed" to do is continue with $1.5 trillion dollar deficits while making a big deal out of cutting $10 billion here or $5 billion there.

    <i>"We are a much younger country than the other major economies, we have much better underlying growth rates ... we started with a much lower overall debt burden as a share of our economy," Geithner told the conference in New York.</i>

    We are younger because we have millions of illegal immigrants cranking out 4 or 5 kids apiece. They have on average poor academic records and a high drop out rate. But they're good at mowing lawns. That will bail us out for sure.
     
  7. toc

    toc

    Give $14 Trillion line of credit to any midium size country like Nigeria, Poland or Argentina and in two decades they also will be super power just like the US has been. Attracting best of the best talent and skills from all over the world.

    Geithner is wrong, there is no plan to let USD be strong. US will play the fraud and let its debt be washed out by inflation and lower dollar values vrs other currencies. USD losing 25% will be good $4T fraud carried out right in the front of world's eyes. Clever move!! :D :cool: :p
     
  8. 42.8% of all Dollars spend on military is spend by the USA....

    That is a lot of money, 700 Billion Dollars each year.