April 3 (Bloomberg) — U.S. Treasury Secretary Timothy F. Geithner delayed a scheduled April 15 report to Congress on exchange-rate policies, sidestepping a decision on whether to accuse China of manipulating the value of the yuan.
And so we continue our ridiculous charade of blaming China in the face of our own horrific mismanagement of finances. This time, U.S. Treasury Secretary Timothy F. Geithner is betting on the financial ignorance of Americans, banking on the sad fact that our nations anti-foreign feeling is stronger than our economic knowledge.
The United States has no business accusing China of currency manipulation. Have we not heard of our own Federal Reserve, which artificially lowers interest rates while we increase our money supply by 5% to 10% per year as a way of lowering the value of cash and providing a corresponding supply to fuel the spending of our out-of-control Federal Government?
So for the Secretary of our fradulent Treasury to call Timothy Geithner to even so much as hint at calling China a ‘currency manipulator’ is nothing more than a cynical distortion, using fear to manipulate American sentiment against a foreign power at a time when they should be looking more carefully at the currency manipulation of their own government and its role in producing debt-based and bubble-filled crises like the one we all just experienced.
come on, geithner!
From this story.
April 3 (Bloomberg) — U.S. Treasury Secretary Timothy F. Geithner delayed a scheduled April 15 report to Congress on exchange-rate policies, sidestepping a decision on whether to accuse China of manipulating the value of the yuan.
And so we continue our ridiculous charade of blaming China in the face of our own horrific mismanagement of finances. This time, U.S. Treasury Secretary Timothy F. Geithner is betting on the financial ignorance of Americans, banking on the sad fact that our nations anti-foreign feeling is stronger than our economic knowledge.
The United States has no business accusing China of currency manipulation. Have we not heard of our own Federal Reserve, which artificially lowers interest rates while we increase our money supply by 5% to 10% per year as a way of lowering the value of cash and providing a corresponding supply to fuel the spending of our out-of-control Federal Government?
So for the Secretary of our fradulent Treasury to call Timothy Geithner to even so much as hint at calling China a ‘currency manipulator’ is nothing more than a cynical distortion, using fear to manipulate American sentiment against a foreign power at a time when they should be looking more carefully at the currency manipulation of their own government and its role in producing debt-based and bubble-filled crises like the one we all just experienced.
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