BEIJING, June 1 (Reuters) – U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency. A major goal of Geithner’s maiden visit to China as Treasury chief is to allay concerns that Washington’s bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.
China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China’s total U.S. dollar-denominated investments could be twice as high. “Chinese assets are very safe,” Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.
His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.
We are oh so screwed with these IDIOTS in charge. I swear I hear circus music in the background. Maybe this is all a dream. Maybe I did ten too many Irish Car Bombs last night and this is all a painfully realistic nightmare and I will wake up tomorrow soaked in my own urine. This can’t really be happening to America, can it?
The Treasury Secretary has problems with basic math… he somehow lost $100B of TARP money. He failed to pay his taxes and blamed TurboTax for the omission. But, Team Obama thinks that he is the ONLY person in the world that can fix the economy, never mind the fact that he was overseeing organizations that contributed to the very problem he has now been hired to “fix.” (you can’t make this stuff up!)
So, I ask all of you to do your part as patriotic Americans and help Timmy out. Please send him a calculator. Or two. The therapeutic value alone is certainly worth $3.99, right?
Click Link Below for a very inexpensive calculator!
Sharp Electronics ELS10BBLTranslucent 3 key memory Youth Calculator-Blue
Ship this advanced tool to Mr. Geithner to the following address:
Department of the Treasury
Attn: Timothy Geithner
1500 Pennsylvania Avenue, NW
Washington, D.C. 20220
The Treasury Secretary has problems with basic math… we need to flood his office with calculators. Joe Biden says it’s “time to pitch in, time to be patriotic.” Please, do your part. The future of American depends on it.
