Our tax dodging, AIG bonus baby, nationalize the banks, Secretary of the Treasury, Timothy Geithner, added his thoughts concerning a new world currency (See blog Prince of Rosh I & II) today. It was ironic that he made his comments before an organization accused over the years of supporting a One World Government, the Council on Foreign Relations. Geithner said, I am "open to increasing the use of the International Monetary Fund (IMF)Special Drawing Rights." (SDR)to eventually replace the U.S. dollar. Geithner later back tracked on his remarks after the dollar plunged on world markets and Obama threatened to take Tim to the wood shed again for telling administration secrets. Boy,this guy really knows how to instill confidence in people.
Geithner's remarks came on the heels of Chinese comments that they would like to replace the dollar. China joins a growing list of nations unhappy with U.S. dollar. Gee. a lot of people in America thought the communists in China were our friends and trading partners but now the Chinese are seeing "red" instead of "greenbacks." I suggest we make Bernie the Madman ambassador to China, see how the Chinese deal with him after one of his bad deals!
Mr. Geithner, I for one, am not in favor of relinquishing U.S. sovereignty and I partially agree with the deposed Czech - You are the "Way to Hell" and you should resign immediately. You and your boss's trillion dollar deficits are ruining the world's most liquid and best treasury market. Your boss plans to spend more than all of our president's budgets added together and that is not good economics.
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