Geithner promises to defend #dollar #economy #run


	Geithner promises to defend #dollar #economy #run

JICWyllie

7-14-2009 1:35 PM

51 views

tags:

1-exchange rates, 1-policy, 1-support, 2-change, 3-advocated, 4-us

JICWyllie says:

Could this mean that he is expecting a run on the dollar soon? If not, why talk about having to defend it? There are only two defences: raise interest rates, or reverse government borrowing. Neither seem possible.

Add a Comment

Login to Comment. Not a member yet? Sign up

Today's Top Clips

visit the Top Clips page

View the Top Clips from July 14, 2009

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/616450a1-436c-412c-a370-5b7290117c49/EA03FD8E-5E42-45F5-BB3A-00EBA97FA5CC/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/37725454-706c-11de-9717-00144feabdc0.html" href="http://www.ft.com/cms/s/0/37725454-706c-11de-9717-00144feabdc0.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/37725454-706c-11de-9717-00144feabdc0.html"><P>Tim Geithner, US treasury secretary, sought to assure Gulf nations on Tuesday about their holdings of treasury bills when he told Saudi business leaders that his country “has a special responsibility to play” in defending the value of the dollar. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/37725454-706c-11de-9717-00144feabdc0.html"><P>He also said that the US is committed to maintaining the openness of its economy to foreign investment and to expanding international trade. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/37725454-706c-11de-9717-00144feabdc0.html"><P>“The force of the global recession is receding,” Mr Geithner said in a speech in Jeddah, a commercial port in western Saudi Arabia. ”The process of repair and recovery is going to take considerably more time. It seems realistic to expect a gradual recovery, with more than the usual ups and down and temporary reversals.” </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/37725454-706c-11de-9717-00144feabdc0.html"><P>”The policies of the United States are designed to lay the conditions for a strong dollar,” he said. ”We are very committed ... to making sure that as we get through the crisis, we bring down fiscal deficits and we reverse these extraordinary interventions we’ve taken.”</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/EA03FD8E-5E42-45F5-BB3A-00EBA97FA5CC/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

New from the makers of Clipmarks: Amplify.com - Don't just share the news...Amplify it!

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Copyright; Privacy; EULA

Search Options

Today's Top Clips