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"It will be helpful if Timmy Geithner can show us some arithmetic"

Mr. T

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Tim Geithner is a joke in China, too!


U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.


A major goal of Geithner’s maiden visit to China as Treasury chief is to allay concerns that Washington’s bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.


China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China’s total U.S. dollar-denominated investments could be twice as high.


“Chinese assets are very safe,” Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.


His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.






Will Obamas team of fascist be able continue without an Inflation Tax?


Borrowing money to cut the deficit is only marginally better than raising taxes. It may delay the pain for a while, but the cost of government eventually must be paid. Federal borrowing means the cost of interest is added, shifting the burden to a different group than those who benefited and possibly even to another generation. Eventually borrowing is always paid for through taxation.


- Ron Paul



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I guess China's holding of our dollar assets is safe, we can just buy em back by printing more money ! ROF,L


Well, maybe not funny at all, eh?


The bags of soybeans I bought last year for 26.50 cost 37.50 this year.


The bag of field corn I will buy, will cost 180 bucks. I think that's about double.


I was talking to the old farmer the other day, and wondered aloud if that price is


so much higher because of "gasohol". He said "Nope".


He said that was a small part of it, but the major problem is the futures markets, and


the only reason milk hasn't skyrocketed, is because our government sets milks prices


that don't take into consideration the dairy farmers' costs. He said he took an economics


class in his college days, and his prof was from Europe someplace, and came into class


one day with a wheelbarrow 1/3 full of something covered with a black piece of plastic.


It ended up being how much money it took in his home country, to buy groceries for a week


in coins.


Anyways, I have already flapped my jaws about some very bad times coming.


Because of Dems AND some Reps in Congress, and OBAMA, I think we're


going to crash for a while into very, very bad times.







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Basicly what Obama and the Dems are doing is trying to spend our way out of this recession.


How does that work if every other nation tried to do this?


What will the dollar be worth when they are done?


You will need a wheelbarrow full of change just to buy a few groceries when they are done.



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