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Geithner Vows U.S. Will Not Devalue Dollar

 
SilverPatriot

User ID: 938262
United States
10/24/2010 01:31 AM

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Geithner Vows U.S. Will Not Devalue Dollar
I will bet that the devaluation of the dollar is about to happen especially considering the track record of this administration, what they claim they will not foist upon us sadly becomes what is jammed down our throats.
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Geithner Vows U.S. Will Not Devalue Dollar

The United States would never, ever consider devaluing the dollar for export advantage, Treasury Secretary Timothy Geithner assured an audience of Silicon Valley business leaders in Palo Alto on October 18. “It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive,” Geithner said. “It is not a viable, feasible strategy and we will not engage in it.” Geithner’s words appeared timed to allay concerns about the U.S. dollar before this weekend’s G-20 meeting in South Korea.

[link to www.thenewamerican.com]
Anonymous Coward
User ID: 1091410
United States
10/24/2010 01:34 AM
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Re: Geithner Vows U.S. Will Not Devalue Dollar
They want to keep it in the toilet without flushing it. This allows big corporations to sell more of their goods overseas. The low dollar is what has caused the market to rise lately.
Anonymous Coward
User ID: 1133361
Australia
10/24/2010 01:34 AM
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Re: Geithner Vows U.S. Will Not Devalue Dollar
What a liar how can he stand there and lie?
When he knows everyone knows its a lie?
What a fucktard seriously.
SilverPatriot (OP)

User ID: 938262
United States
10/24/2010 02:02 AM

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Re: Geithner Vows U.S. Will Not Devalue Dollar
They want to keep it in the toilet without flushing it. This allows big corporations to sell more of their goods overseas. The low dollar is what has caused the market to rise lately.
 Quoting: Anonymous Coward 1091410


True but often the sales are at a loss to the company, we simply need to manufacture more of our goods instead of relying upon other countries junk.
Anonymous Coward
User ID: 1140172
Sweden
10/24/2010 02:15 AM
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Re: Geithner Vows U.S. Will Not Devalue Dollar
De facto devaluation is an going process through the increase in the money supply i.e. keep on printing more dollars.

Only idiots would claim what Geithner is claiming.

Already Germany accused the US of intentionally devaluing the dollar through money printing, even the Saudis are vey worried since their Riyal is peggede to the US dollar which means all the imports will becoem more expensive since the value of the riyal is falling and thus creating more inflation.

As for China since the Yaun is tied to the dollar this will offer further depreciation of the Yuan since the dollar keeps on falling in value visavi world currencies.

NO one can blame China its the US which has to blame itself.

The dollar is doomed with the present gang running things the way they do.

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