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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.22-0.2%Nov 21 4:00 PM EST
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To: TobagoJack who wrote (45602)1/22/2009 11:06:29 AM
From: Joe S Pack3 Recommendations  Read Replies (1) of 217960
 
Here is the first joke of the tax cheat TS Geithner:

Obama Deems China ‘Manipulating’ Yuan, Geithner Says (Update1)
By Brendan Murray

Jan. 22 (Bloomberg) -- Timothy Geithner, President Barack Obama’s nominee for Treasury secretary, said the new U.S. administration believes China is “manipulating” its currency.

Geithner also said, in written responses to questions from Senate Finance Committee members, that there are “no current plans” to request more financial-bailout funds for the Troubled Asset Relief Program. He played down any need to nationalize banks, without specifically ruling out the option.

The remarks on China may presage a tougher American line with the nation that is the biggest foreign investor in U.S. government debt. Former Treasury Secretary Henry Paulson preferred diplomacy over confrontation with China to resolve trade disputes and, in semiannual reports, refrained from labeling the country an illegal “manipulator” of its currency.

“President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency,” Geithner said in the remarks, which were posted on the Senate Finance Committee Web site today. “The new economic team will forge an integrated strategy on how best to achieve currency realignment in the current economic environment.”
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