Open mouth and insert foot. Yesterday, during testimony on AIG and the power grab that the Treasury is seeking over all businesses in America, Geithner was questioned by Congresswoman Michele Bachman as to whether he would support a global currency. Both Tax-Cheat-Geithner and Fed Chief Bernanke said they would not be open to that and that the dollar will remain the currency that all other economies in the world use as the reserve currency. But today Geithner was singing a different tune when speaking to the Council on Foreign Relations (CFR).
Geithner said the U.S. is “open” to the proposal introduced by China’s central bank that called for a new reserve currency. He said, “I haven’t read the governor’s proposal. He’s a very thoughtful, very careful distinguished central banker. I generally find him sensible on every issue.” Geithner did say he did not think that the new currency would take place in the literal sense. “We’re actually quite open to that suggestion – you should see it as rather evolutionary rather building on the current architecture rather than moving us to global monetary union. The only thing concrete I saw was expanding the use of the [special drawing rights at the IMF]. Anything he’s thinking about deserves some consideration.” Anything deserves consideration?! He also added that the dollar staying as the reserve currency “depends..on how effective we are in the United States…at getting our fiscal system back to the point where people judge it as sustainable over time.”
Later Geithner clarified his remarks by stating that he does not see the dollar being unpegged from by the world’s economies and “we will do what’s necessary to say we’re sustaining confidence in our financial markets.”
So is all this contradiction between yesterday’s testimony and today’s contradictory comments signal that Geithner is just an idiot and does not know what he is doing or is this some kind of cover? Do they plan to create a global currency? Did the dollar’s fall today cause him to change his remarks even though America truly is “open” to a global currency? What is going on? I am about to blow my top – get me some duct tape.
Everyday seems to fulfill more and more prophecy and it really does seem we are marching towards more than just socialism, we seem to be marching towards the end times.