America, what have your wrought in the election of this fanatic in the White House? While the world crumbles he golfs, vacations, and circle jerks which, considering the alternative (his involvement) is preferable. When he does weigh in, heis duplicity and betrayal is so profound, free men shake.
The Post-American Presidency: The Obama Administration's War on America
US backing for world currency stuns markets Telegraph
US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.
The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.
"The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation," he said.
Mr Geithner later qualified his remarks, insisting that the dollar would remain the "world's dominant reserve currency ... for a long period of time" but the seeds of doubt have been sown.
The markets appear baffled by the confused statements emanating from Washington.
Atlas Shrugs
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment