Anonymous asked in Politics & GovernmentElections · 1 decade ago

Why did Timothy Geithner PROPOSE REPLACING the US DOLLAR w/ an international reserve currency?

Was he on drugs or was he being serious?

As if the dollar didn't have enough problems, Timothy Geithner took China's bait yesterday and said he was "quite open" to its suggestion this week to displace the greenback with an "international reserve currency." The dollar promptly fell and stocks followed, before the Treasury Secretary re-emerged to say "the dollar remains the world's dominant reserve currency. I think that's likely to continue for a long time."

Mr. Geithner is learning on the job, and yesterday's lesson is that it isn't smart to fool with currency markets when you are already tempting fate with a gigantic U.S. reflation.

11 Answers

  • 1 decade ago
    Best answer

    It is all explained in Revelations. One world currency. Global financial unrest. World wide war and strife. Then HE will come and solve all of our problems. Tick tock tick tock.

  • Amy
    Lv 4
    4 years ago

    Yes, it was dumb of him if he wasn't prepared to stand by it. But a reserve currency is not the same as an exchange currency. Replacing the dollar as a reserve currency would be very different from replacing the dollar as the daily means of exchange and payment in the USA. Geithner's speech actually did reflect this nuance. He never suggested ditching the dollar. He suggested that he might be open to adding a new global currency of account (not a real paper currency anybody could hold) to the mix in order to stabalize the world economies. This is freakin' crazy. But it isn't what he's being accused of.

  • Ruby
    Lv 6
    1 decade ago

    People must put on their thinking caps and understand that GEITHNER IS NOT CLUELESS.

    Incompetent people do not rise to position of Treasury Secretary.

    This is all by design, and if people don't figure that out soon, they WILL see the collapse of the dollar.

    C'mon people ... open your eyes ... don't let the media pundits do your thinking ... don't fall for the political talking points ... look only at the raw facts and draw your only conclusions ... open your minds to allow yourselves to hear what is difficult to hear ....

    If you look at all of the raw facts (here and from around the world as to what governments are doing and what government leaders are saying), it seems clear that the destruction of the dollar is clearly intentional to pave the way for a world currency.

    All of the bailouts are designed for the bankers and the elite to get their money out before that happens.

    If you care about your country, please wake up.

  • Paul
    Lv 7
    1 decade ago

    I did not vote for Obama

    but don't most people learn *ON THE JOB?*

    I think President Obama is guilt of this too

    not only here and abroad Obama has showed a lot of wishy washy

    diplomancy~~sometimes if you try to hard to please *everyone*

    you end up pleasing *no one>*

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  • 1 decade ago

    He said it was an option, which still should get him under a pointed hat and sitting in the corner for the rest of his employ.

  • 1 decade ago

    he's not smart enough to use turbo tax. do you think this intellectual giant would have the insight to realize what that would do to the value of the dollar. maybe he just thinks he could just print even more to compensate.

  • Anonymous
    1 decade ago

    Because he's an idiotic 'globalist' and a sell out-

  • 1 decade ago

    Because he's a NWO shill like all of his other fake cronies.

  • 1 decade ago

    but he was the only man that could fix this mess!

  • Anonymous
    1 decade ago

    Obama sucks

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