US backing for world currency stuns markets

lovuian

(1000+ posts) Send PM | Profile | Ignore

Sun May-17-09 11:45 PM
Original message

US backing for world currency stuns markets

http://www.telegraph.co.uk/finance/economics/5050407/US-backing-for-world-currency-stuns-markets.html

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

I frankly am not surprised
if the New World agenda thinks is going to work
they are sadly mistaken

Printer Friendly | Permalink | | Top

obliviously

(1000+ posts) Send PM | Profile | Ignore

Sun May-17-09 11:48 PM
Response to Original message

1. The us dollar

will soon collapse!

Printer Friendly | Permalink | | Top

Oregone

(1000+ posts) Send PM | Profile | Ignore

Sun May-17-09 11:56 PM
Response to Reply #1

3. The us dollar

has had a great year!

Printer Friendly | Permalink | | Top

obliviously

(1000+ posts) Send PM | Profile | Ignore

Mon May-18-09 07:44 PM
Response to Reply #3

7. If you

mean number of copies printed.

Printer Friendly | Permalink | | Top

Oregone

(1000+ posts) Send PM | Profile | Ignore

Mon May-18-09 08:38 PM
Response to Reply #7

8. No, I mean in terms of exchange rate

Its at a 15+% Y2Y rise against our local currency here, which is great since I get paid in USD.

Its risen against many global currencies in the last year.

Who cares if dollars are being printed. The US is in a deflationary spiral. Any positive inflationary force should be welcomed at the moment (especially since it decentivizes savings and encourages temporal economic investment amongst the investor class (good thing during "deficient demand") ).

Printer Friendly | Permalink | | Top

LSdemocrat

(1000+ posts) Send PM | Profile | Ignore

Sun May-17-09 11:55 PM
Response to Original message

2. It is disturbing as hell how interdependent the US an China are

We need them to buy our debt as their fixed-rate currency helps keep their US exports up, while keeping ours down.

We have to tread delicately as all get out if we are aiming for a fairer fixed rate against their currency, while still keeping them happy enough that they will still but our bonds.

Printer Friendly | Permalink | | Top

Pirate Smile

(1000+ posts) Send PM | Profile | Ignore

Mon May-18-09 12:05 AM
Response to Original message

4. This is old - from March - and already repudiated by the WH. It got posted here yesterday too

which is weird.

Printer Friendly | Permalink | | Top

On the Road

(1000+ posts) Send PM | Profile | Ignore

Mon May-18-09 12:17 AM
Response to Original message

5. Is This, Like,

a financial haiku or something?

I frankly am not surprised
if the New World agenda thinks is going to work
they are sadly mistaken

Printer Friendly | Permalink | | Top

snot

(1000+ posts) Send PM | Profile | Ignore

Mon May-18-09 03:14 AM
Response to Original message

6. I missed this, and it's v. impt.; thanks.

And it's not exactly ancient news, and it deserves attn. K&R'd.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Wed May 08th 2024, 08:40 PM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.