As expected, Treasury Secretary told finance ministers and the media that the U.S. isn't attempting to lower the value of the dollar (Despite the fact that Bernanke is pumping $600 billion in high powered money into the system.)
Geithner said the U.S. is committed to a “strong” dollar and won’t use its currency to gain a competitive advantage, amid concern the Fed’s easing will drive down its value, according to Bloomberg. “We will never use our currency as a tool to gain competitive advantage,” Geithner told reporters.
Maybe Treasury Tim thinks a $54 USDX is a strong Dollar.
ReplyDelete"When the lie's so big" FZ RIP
ReplyDeleteThey got lies so big
They don't make a noise
They tell 'em so well
Like a secret disease
That makes you go numb
...
People, please tell me when
We'll be rid of these men!
...
Just who do they really
Suppose that they are?
And how did they manage to travel as far
As they seem to have come?
Were we really that dumb?