Further, according to the Treasury:
Secretary Geithner will also outline the Administration's efforts to make global growth more sustainable and expand opportunities for trade. He will emphasize that our engagement with the multilateral development banks is both a critical component of our national security and economic interests and crucial to U.S. leadership in the world. Finally, he will reiterate that a robust economy at home is the single most important contribution to continued U.S. economic leadership and the global economy overall.'Emerging markets that keep their exchange rates at undervalued levels" is, of course, referring to China.
Memo to Geithner: If the Chinese hadn't propped up the dollar, price inflation in the U.S. would already be at severe levels.
If the Chinese continue to prop up the dollar by printing yuan, they will ultimately destroy their own currency.
The Treasury Secretary and Fed chairman Bernanke want to desperately paint the coming price inflation as a "commodity inflation", that it is only a supply problem and having nothing to do with money printing by the Federal Reserve and other money center banks. They already have a scam to profit from this commodity inflation, the Global Agriculture and Food Security Program. But, of course, the price inflation is raging far beyond the commodity sector and includes most of the capital goods sector as evidenced by climbing stock prices. The Fed money that is causing the climb in raw materials and the capital goods sector is slowly working its way to the consumer sector, Geithner and Bernanke have to know this and their focus on the commodity inflation is a way to deflect blame away from the government money printing.
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