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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (298160)	3/25/2009 8:39:56 PM
From: D. Long	1 Recommendation Respond to of 793866

Gold spikes after Geithner speaks on dollar The fact that he opened his mouth on this subject, at a time like this, shows he has no freaking clue.

To: FJB who wrote (298160)	3/25/2009 8:50:29 PM
From: unclewest	2 Recommendations Respond to of 793866

Geithner said he was "quite open" to China's suggestion of moving toward a currency system linked to the International Monetary Fund's Special Drawing Rights (SDRs), a basket of dollars, euros, sterling and yen, as a super-sovereign reserve currency. That hit dollar sentiment as it could mean countries selling large portions of their dollar reserves, highlighting the use of gold as a hedge against the U.S. currency, analysts said. They only know surrender. We are screwed.