Lier. US Treasury Secretary Timothy Geithner vowed Tuesday that the United States would never follow a strategy to weaken the US dollar. "Our policy has been and will always be, as long as I will be in office, that a strong dollar is in the interest of the country," Geithner said "We will never embrace a strategy to weaken the dollar." http://www.breitbart.com/article.php?id=CNG.bb8d29de016b5320311c96de8bcead4b.21&show_article=1
Geitner: Our Policy Has Been To Support Strong Dollar LOL, Apparently he believes that the rest of the world is retarded.
Maybe not a "lier", technically speaking. He may not pursue a dollar weakening strategy, but obvious steps to strengthen it may be ignored. Besides, in a world with a WTO, it's best to keep this kind of thing on the qt. I don't have a big problem with it, our products are more attractive overseas, and we definitely need to onshore some money. As for the cost of imports, yes that hurts, but if we can out-export other nations who have to pay the same for their inputs then the pain is at least mitigated.
Week ending Jan 20 2009 - DXY closes 86.19 73.881 currently 12.309 or a 14.28% slide since hope and change has taken over. That being said the numbers from W`s reign of terror are even worse. Jan 20 2001 DXY closes the month @ 110.53 - the strongest currency in the world. 110.53 less 86.19 makes @ 22.02% slide in 8 years vs 14.28% in 2.4 years. Obamas rate of change is much faster. If this pace keeps up its gonna turn even fuglier. Ws was running 2.75% a year and the big O is running 7% a year. We can expect a DXY at the 66 level at the end of his career. All things being equal The constant here is the feds artificially low rates and the continued fleecing of the American public. As the 30 year bond was trading 110.50s at the begining of this shit show we call "leadership" since 2001 and is now 121.29s But dont worry.....im just an alarmist. Ignore the numbers and our qaulity of life....it means nothing