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China Currency Manipulation Report Delayed Until After G20 Meeting In November
According to Reuters, a senate aide has confirmed that Tim Geithner has pissed his pants and seeing the sudden surge in the dollar following rumors that a bunch of hapless politicians were about to blame America's depression on China and call it a manipulator even as the US prepares to print $1.5 trillion in new paper, has delayed the currency report until after the G20 meeting in November. One wonders just what telephone conversations occurred between Geithner and Wen Jiabao in the past 20 minutes, and what the mutual assured destruction trump card (or 850 billion) used this time was.
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All I can say is "no shit". Absolutely 100% correct, TD.
+1
Every day is "double-or-nothing" day, and we're playing with real bullets.
Unfortunately, there are only a couple bullets left, and each is some fifty-feet-tall.
what they really want to do is push it out after November 2.
Then all hell breaks loose !!
TBF, TBT, TIPS.
+1
Our elected officials sure do have their shit wired tight. Gives me the confidence to go out and borrow and spend!
LOL
We're just trying to out-class Brazil.
no offense, but Brazil actually have a very good central bankers, and should not be compared to Tim and Ben...
None taken. I just make shit up, you know.
Brazil will have to manage most of S.A. on their own before this is over. They'll be fine so long as the Amazon basin holds together and the Chinese don't invade.
LOL
The cougar adheres to no standards of behaviour other than his own. Now get the hell out of my way hairball.
That's just me taking a page from the Obama play book;
Make shit up. Act serious. When it's over have a good laugh off-stage and then it's off for some beers with the guys.
Well it's been proven that if you can get to mexico you can invade north america with little problem.
If china starts selling counterfeit 67 chevy bellaires in south america. I'd worry.
"very good central bankers": pray tell please define this oxymoron.
Brings new meaning to the term "pucker power".....er.....sorry....."Wen power"....damn, let me try that again....um......"we the people power".
And another walk off homerun for the struggling Yanks.
Cut that out before we unleash General Tso on you!
With his chickens?
mmmmmm
General Tso was a close ally of Colonel Sanders.
Ancient Chinese Secret Blend of Herbs And Spices.
Hehe... this just keeps getting better and better.
"When you pass through, no one can pin you down, no one can call you back"
And I delayed going out for this? What a bunch of crap.
Can successfully kicked down the road.
Or at least until after the elections, when all kicked cans immediately become due and payable.
exactly CD, or all the cans fall off the cliff as somebody else here has posted in the past.
This will never survive to elections. You're looking at less than 3 weeks to live.
Well then, I'd better shine my shoes. :>)
Elections are today for me. Ballot arrived in the mail yesterday.
today's selection comes courtesy of my little sister's itunes. she has impeccable taste in music and it is certainly worth sharing. however, this is not the EDM you are looking for. rather an eclectic collection of bump. i did not include her favorite country songs. as far afield as this playlist is i thought that would be a bridge too far.
coisas da irmã (a playlist):
http://www.youtube.com/view_play_list?p=B66475A34C59B734
I wonder what it'll be like for our kids when China asks (no tells us) that our first borns are now to be indentured as house slaves to Beijing elites.
Oh well - let's party
What happens when China gives us our margin call and we say, ummm fuck you.
Nuclear ballistic missile submarine bitchez ...
And China doesn't have those?
http://www.telegraph.co.uk/news/worldnews/asia/china/1917167/Chinese-nuc...
The key point " reverse engineer " these fucking bums have not had an original thought in 35 40 years, they copy everything, leadership ....?
They are light year behind us. This was from the 80's imagine what we could roll out in 2010???
Yeah our mil tech is better, but what makes you think it's not made it's way to Beijing? Seems Clinton was selling them missile tech in the 90s. And of course we share our advances with Israel, our ally. Israel of course turns around and sells those innovations (and who could blame them for free money). So innovations don't mean dick if you can pick up everyone else's for pennies on the dollar.
We developed the internet also, I thinky we have an insider view of what everyone is doing. Sure we made the deal with the missle tech but that was a tradeoff to set in motion the purchase of fannie,freddie paper. Now as we sit here in 2010 the deal is starting to fall apart.
I think we will have a plan in place to stifle this little child if he acts up ... We would send them back to the stone age, imagine 1.5 billion people with no electricity,food,answers, everything just shuts down ........ by,by ....
They've successfully hacked into our military servers, and were probably successful at making a copy of everything of value on the Los Alamos servers.
I don't know about you, but being burned alive at 10 million degrees F versus 100 million degrees F still hurts like a bitch, or so I would assume.
X-37B
The X-37B has been orbiting the Earth for 173 days since its launch on April 22.
IT'S one of the most anticipated space launches since the original manned space shuttle Columbia blasted off in 1982.
Hundreds of millions of dollars have been sunk into it over nearly 20 years of research and development.
It's the X-37B.
Back in late July, the X-37B went AWOL for nearly two weeks off its regular flight path.
When it was found, by amateur skywatcher Greg Roberts of Cape Town, South Africa, its new trajectory proved the shuttle was much more versatile than previously thought, with a "cross-range" wing set-up that may allow it to compensate for the slight turn in the Earth after a single orbit and land back on its original launch pad.
Read more: http://www.news.com.au/technology/us-air-forces-secret-space-shuttle-x-37b-goes-missing-again-rumours-of-possible-landing/story-e6frfro0-1225937846236#ixzz12SQqdhjU
That's it!!
I can hear it now
Brang it on little man, brang it on!!!!
china is long dollar, they may be selling it but they are definitely propping it up at the right times as well to keep their holdings alive until they spend it all on resources secured by US army.
Now we know who wears the pants in the family. oOOOoh my !
The clean ones, anyways.
OK, that made me laugh!
"Imma kill your ass bitches .... psych! Just kidding. Hey come on I was joking, this thing doesn't even have bullets in it. WTF relax. Everyone is so tense these days." -- Timmay
+1
too funny. and just yesterday the bloomberg was saying what a tough guy timmay had become:
http://www.businessweek.com/magazine/content/10_43/b4200034768318.htm
I'd laugh harder if it wasn't so ridiculous. these are the guys in charge?
I think I'm going to throw up. The pissy ass little prick couldn't fight his way out of a wet paper bag.
Serious small man syndrome going on between Benny and Timmay.
Timmy needs some chinese knee pads.
Shoes?
ZING!
Knee pads used to be manufactured in S.C. All kneepads are now mfgd in China, Singapore and Vietnam. I hear, tho, that you can still obtain custom-mades in Boston.
You can get well-worn used ones at the consignment shop.
If you can't say something nice about someone, don't say anything at all. Especially if they can dump their bond portfolio.
The Chinese dumping their bond portfolio would be good for us, since the fed would just print dollars to buy them, and then the conversion of the money to Euros would drive the dollar down further.
That means the end of exporting inflation to China. That means much higher prices here. And don't expect manufacturing jobs to come back to the US. They will just go to another country that is not quite as cheap as China, but much cheaper than the US. Mexico, Thailand, Vietnam, are three examples that come to mind.
China is no longer a low cost country. Jobs are not moved there because they are cheaper than anyone else.
The blame on China is they've disrupted the world tour of misery supposed to support the outsourcing process. China remains (for various reasons) the preferred destination for outsourced jobs, even though they are no longer the cheapest on the work force market.
Jobs will no be brought to the US. That is not the concern. The concern is about breaking the Chinese upwards pressure on salary that is spreading to low cost countries.
The race to bottom has to be organized once more.
Disagree. Oil would go to $150, softs, commodities would skyrocket.
We cannot devalue ourselves to prosperity.
Yep the skyrocketing cost of all inputs and imports would really help us out. America will be a paradise when we pass the $10 a gallon mark for gas.
There a lot of things this government has done but if this is one of them, this is truly wrong. Geithner should be fired on the spot, the republicans should crush in the elections (I am a hard core democrat) and Obama should lose reelection. I heard Congressman Ryan on Bloomberg radio and he is spot on. Our workers are to remain unemployed so theirs can remain employed. Why don't they just devalue the dollar to nothing, say fuck you to the Chinese, and allow all americans to trade their dollars one to one for the new dollar and everyone else at the inflated rate. Then go start the war, get it over with, bombard china with rockets since they are not up to our speed yet militarily and be done with it.
Anyone who is a hardcore Dem/Repub should do us all a favor and hang themselves immediately. Thanks in advance.
that's a bit harsh. maybe they already tried but the neck didn't snap and they just ended up depriving their brain of oxygen for a little too long.
If you are going to piss in your bankers pool, don't stand on the side and do it.
Get in the water and do it discreetly.
wow thought provoking, never thought of the sly approach.
I've always been the pee on the leg kind a guy.
thanks
Gonna stand right up to those little fuckwads and show them who's boss. I can scream louder than you can. Nananananannah. Give them a lesson in doing absolutely nothing but bluster when the wrong's been all our own fault all along. Hah! Teach them shifty little squats a thing or two. Just given that hard assed cross-eyed staredown. Double dare you....
Peaches and cream for everybody! QE2 full speed ahead. Operation Twist to the music. Go back to bed, double the Xanax, a full regimen of Ativan and Thorazine recommended. Be good as new. Step right up, getchyer new iPoop right here. Set the tube for America Can't Dance.
Is there absolutely anything that's not fucking broken anymore? Why in Gods' name as a nation are we even having this discussion. There are no adults anymore. Nothing rational. No clarity of thought. It's off the tracks. Power dive, perpendicular to the earth, 150% full military throttles, options none.
Insanity.
+1
I know I'm being slow....but why did the dollar surge in anticipation of China being a manipulator? I'd think the dollar would fall in anticipation of the pressure working....Unless the thinking was the pressure would backfire and cause a weaker Yuan...in which case...ah, forget it.
The scope of QE2 is being repriced into the market. Hint: it will be much smaller than predicted. In other words; the FED blinked. The Chinese are in control of our destiny. When 40% of the USG is being funded by debt you tend to not want to piss off your creditors. QE2 is a deception. Sure they will monetize some to keep the market "afraid of the next move". But it is a giant bluff. Once the stock market finally realizes it, look out below!
Trick or Timmy
Oh, now that is truly f-ing funny.
"To see when mask is on, poke sharpened pencil through eyes....."
OMG, such bureaucrateasistical instructions.
Rest of this page intentionally left blank.
Wb7 you are so freakin creative, have you ever thought about taking over the Fed. A little creativity would at least be entertaining on the way to Hell.
The first thing I would do is fire all the PhDs and hire cartoonists and Polka musicians
Just be careful you don't get "Weird Al" Greenspan.
He is on my watch list
Instant classic
The Three Amigos all on the same page
Heehee !
Greenspam looks like Ringo Star.
Benny looks like an Allman Brother. Pass me a spliff ...
+1 lmao
Our politicians were playing Chinese checkers and realized they had no moves left. We have been led into the trap and they were about to pull the noose. I'm sure the conversation Tim had with Wen Jiabao went something like this...
http://www.youtube.com/watch?v=STXco3O2PHI&NR=1
Bottom line: the current system of the US borrowing a trillion a year from surplus nations to buy gizmos and fund our government simply isn't sustainable.
The country can't borrow money every year to keep going any more than your household can.
So what comes next? TPTB seems to be trying to "get back to normal" of 2006. Why? If by some miracle we could get back to that normal, it would blow up again in 2 to 3 years.
The fact is that we need a currency war. And it will be us vs. China, and if that is the case, we might as well win.
How does one win? A nation where 60 hour work weeks for $10/week vs a nation of 0 hour work weeks fat lazy couch critters who want $400/week and all life support for free. Yeah, I can see we are certainly going to win this.
Meh someone junked you but i agree, How is the US ever going to be competitive on manufacturing with China? It will simply never happen.
If history is any guide the only way a developed nation can compete on manufacturing with a developing nation is to invest Billions (maybe Trillions) of dollars on high tech machinery that can replace workers (think what Germany/South Korea/Japan do to stay competitive). Unfortunately business schools in America have been telling every MBA for decades that instead of investing in the American manufacturing base they should just ship jobs overseas and realize short term profits immediately (instead of reinvesting them in capacity). The government reinforced this view by giving companies massive tax breaks for shipping jobs over seas (instead of tax breaks for keeping them). Further more the government wastes trillions of dollars on entitlements and military spending that has a near ZERO return on investment.
This generational mismanagement has left America without a sustainable manufacturing class. (not everyone can be in the finance industry, resecuritizing each other's porn subscriptions) Ultimately this type of thinking/mismanagement always leads to a credit deflation as lenders realize this large segment of the population will never be able to pay off their maxed out credit cards (no more AAPL devices for the working stiff).
+1
Weaseling out of things is what separates us from the animals. Except the weasel.
right on tao
What a coward.
Good thing we have a president to smooth things over between the ruling party in the congress. Goddamnit, congress. Don't bring this shit up until after the 19 morning sportscenters. What a bag of donkey shit.
Even this talent-free moron wasn't stupid enough to raise on a busted flush today.
And that is saying something. But give the boy time to rethink it.
What a waste.
If you pick up a starving dog and make him prosperous, he will not bite you. This is the principal difference between a dog and a man.
Mark Twain
"They own how much of our debt?"
- Timmy "No clue" Geithner
That will be the perfect rational for QE 2 - we can't have them commies owning more of our debt than we do!
Yeah only nowadays it's "terrorists" instead of "communists" being the National Bogeyman.
So maybe our fearless leaders will put their tiny little peanut brains together and decide to label China a "rogue terrorist nation" on top of it.
Isn't that the vibe they're trying to develop? It's not like they have to actually use the words.
Santelli must be reading zero-hedge because he just said on the air that the fed was about to become the biggest holder of U.S. treasuries.
http://www.zerohedge.com/article/pomo-closes-47-billion-new-apple-buy-orders#comment-652890
Santelli has quoted ZH numerous times.
What did he say, that the Fed trails China by only 24 billion...?
Yeah.
One week's POMO!
One of the air heads on CNBS just asked Hugh Johnson if it's a relief that China ain't being declared a currency manipulator till after the election. (Great fucking question. Can you tell me your name without looking at your driver's license? Got brains. Jesus H. Fucking Christ on a Crutch)
To which Hugh replied something along the lines of best not call them a "Manipulator", but just a "Currency Manager", as if it gets too pointed, it'll result in a currency war. (Next Nobel Laureate please grab you nuts and squeeze as hard as you can.)
This is sick. All too real and important, being relegated to the level of John Beluchi and SNL.
HELP!
Help comes in the way of the "A" word.
I'm sorry you had to endure that. I truly am. It's so unfair.
You might want to seek out professional help with any symptoms of PTSD. That shit can mess with you, be careful. You have our prayers for a full recovery.
Come by for a beer later, 'kay? I love you, man.
Yeah, "Present" Traumatic Stress Disorder
I guess they checked the receipts on the auctions and saw China was coming in a little light..perhaps purposely. They just made us look like fools..which we in fact are.
+1
The shipment of Kool-Aid must have been delayed for the party.
Smoke meet mirror.
Negotiations continue......
Timmy, they got you by the short hairs. Oh wait, that wasn't hair!
Sorry Mrs. Geithner. Why don't you try on some of Tim's slacks. Somebody in the house has got to wear the pants.
Maybe I am being unfair. Maybe the plan is to have the Japanese call them manipulators. After all, the Chinese have been bidding one pip below the market for every yen the BOJ tries to sell.
News Item: Cessna (Textron) builds aircraft manufacturing facility in NE China. No doubt the intellectual property will be given the full respect international trade law demands, right Textron? Well, if the US loses its one remaining major manufacturing industry, at least we still have banking.
Brave Sir Geithner ran away.
Bravely ran away, away!
When danger reared its ugly head,
He bravely turned his tail and fled.
Yes, brave Sir Geithner turned about
And gallantly he chickened out.
Bravely taking to his feet
He beat a very brave retreat,
Bravest of the brave, Sir Geithner!
lol
Sums everything up,no leadership,no balls and pretty obvious what was in it.The ship sinks and the Captain sits in his cabin having a drink and mulling his career.
Schumer: Obama should probe China FX manipulation
WASHINGTON (MarketWatch) -- U.S. Senator Charles Schumer on Friday criticized the White House for not publishing a report on currency manipulation, saying by investigating China's subsidizing of the clean-energy industry it's "treating the symptom, but not the disease." The Treasury Department hasn't confirmed that it has pushed back publication of the report, though Reuters cited a Senate aide as saying the government will wait until after the Group of 20 meets in November. "Democrats and Republicans alike in Congress are prepared to move legislation confronting China's currency manipulation this year. We hope to have the administration's support, but will go forward without it if necessary," the New York Democrat added in a statement.
Go Chuck!!
I bet this whole rumor thing is just for election. The word "manipulator" will not be there when it comes out.
Timmy a bit (commie)red in the face?
http://kissarmy.50megs.com/Geithner2.png
hahaha - G20 meeting is going to somehow change this scenario, yeah and i am going to be Mrs. Clooney.
China: "sure we will revalue if you don't do QE2". Since QE2 is a fait accompli, the rest is history in the making.
Geithner is a such a PUSSY.
China: "sure we will revalue if you don't do QE2".
Timmay: "Deal. Where do I sign?"
Timmay (soto voce to Bennie): "Suckers. Can you do QE2 in 30 days?"
Bennie (soto voce to Timmay): "In 30 hours if you want it."
Timmary: "Shit then, 30 minutes would be sweet."
Bennie: "Gimme 30 seconds to place a call."
Timmay: "Hold it while I sign this crap..."
Chart: DX
Dollar breaks out.
http://99ercharts.blogspot.com/2010/10/dx.html
Ring Ring
Herro
Hello Mr. Chinaman – Timmy Geithner here – now listen up and listen up good – we are going to put out a report today that label you as a currency manipulator – YOU HEAR ME!!
Herro – Mr. Geithrer – Are You SURE You Rearry Want to do Dat?
Yes – Goddamnit – I’m telling You WE HAVE HAD ENOUGH!! Must I remind You That You Are Fucking With The UNITED STATES OF AMERICA!!
Oh – I See – Well Then Mr. Geithrer – You Leave Us No Choice – I Guess We Will Just Have To Start Selling The 2.1 Trillion Dollars Worth Of U.S. Debt And Start Buying Gold And Silver Instead. You May Also Be Interrested To Know We Will Not Be Purchasing ANY More U.S. Treasuries.
Cccsssszzzzcccckkk Excuse me – We Seem To Be Breaking Up Here – I’m sorry – We Have A Bad Connection. Did You Get The Part About Us NOT Putting Out A Report Today That Would Label You A Currency Manipulator – Damn Phone Lines.
China is no longer a low cost country. Jobs are not moved there because they are cheaper than anyone else.
The blame on China is they've disrupted the world tour of misery supposed to support the outsourcing process. China remains (for various reasons) the preferred destination for outsourced jobs, even though they are no longer the cheapest on the work force market.
Jobs will no be brought to the US. That is not the concern. The concern is about breaking the Chinese upwards pressure on salary that is spreading to low cost countries.
The race to bottom has to be organized once more.
Pathetic. We told the bully we were going to meet him in the schoolyard and then got scared.
In the eyes of the Chinese we just a sniveling crack-whore threatening the drug dealer we are going to kick the habit once-and-for-all so 'fuck off..then crawling back begging to forgive us and just give us a few more hits cause 'we'll be good from now on'. Welcome to US of A - 2010 Style.
If it were not so pathetic - it would almost be humorous. I guess we should consider ourselves fortunate that at least they seem to have a sense of humor and just laugh it off and settle things diplomatically - rahter than coming out with a statement that goes global telling us in no uncertain terms and in not so diplomatic language to go fuck ourselves and really expose us for the laughing stock we have become.
IMHO, there is one word to describe the reason for the delay:
ELECTIONS!
They delayed it because it's to close to the election and the G20. If they say that China is a manipulator China will respond in kind and fight back. And when the G20 comes around, other countries will air out their laundry regarding our financial system and how we are watering down our money/their investments. If we say they aren't, it would be ammunition against the president and the democrats.
Does anyone agree that by not coming out today & labeling China as a currency manipulator (as promised) is the ultimate sign of weakness. If thats the only bullet left & your afraid to fire the gun...! Well..., wtf is the point!?!?
GOLD updated chart showing parabolic move.
http://stockmarket618.wordpress.com
Really this is a great post from an expert and thank you very much for sharing this valuable information with us.
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