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Geithner Says Not To Worry About Surging Oil Prices: "Central Banks Have A Lot Of Experience In Managing These Things"
You really can't make this shit up: "The economy is in a much stronger position to handle” rising oil prices, Tim Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things." We are, all of us, now doomed.
Bloomberg's account of one lunatic's daily ramblings in a collapsing world:
U.S. Treasury Secretary Timothy F. Geithner said the economic recovery has put the world on a better footing to withstand the increase in oil prices caused by turmoil in the Middle East.
“The economy is in a much stronger position to handle” rising oil prices, Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.”
Political turmoil in Libya, holder of Africa’s largest oil reserves, will add “stagflationary winds” to the global economy, according to Mohamed El-Erian, chief executive officer at Pacific Investment Management Co. Protests in Libya pose more “systemic” risk to the global economy than the upheaval in Egypt and Tunisia, El-Erian said in a Bloomberg Television interview yesterday.
Geithner also said the U.S. financial system is in better shape than before the recession and is able to provide the funding needed for the expansion.
“The core of the American financial system is in a much stronger position than it was before the crisis,” he said. “We’re way ahead of any other major economy.”
And if the confirmation that we have a lunatic in charge was not enough, here is the punchline:
“The economy is gradually getting stronger,” Geithner said today, adding “I wouldn’t get carried away with it.”
Don't worry TurboTax, you will get carried away... by a mob of unruly protestors who finally realize that Libya was not an isolated incident.
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I take it you don't frequent Wall St. (you lucky bastard)...
They have adopted the "Ring of Steel" approach the British used in Central London during the Troubles.
Sallyport roadblocks everywhere, thousands of cameras, fulltime assault teams standing around with dogs and automatic weapons, tons of undercovers.
The FRBNY has their own checkpoint boot out in the street.... Armed defenders of the Central Bank!!
And then you have the Hercules Team swarms all the time.
All put in place after 9/11. hmmmm
"And there are the Hercules Teams, elite, heavily armed, Special Forces–type police units that pop up daily around the city. It can be at the Empire State Building, the Brooklyn Bridge, Times Square, or the stock exchange, wherever the day's intelligence reports suggest they could be needed. These small teams arrive in black Suburbans, sheathed in armor-plated vests and carrying 9-mm. submachine guns—sometimes with air or sea support. Their purpose is to intimidate and to very publicly mount a show of force. Kelly knows that terrorists do a lot of reconnaissance, and the Hercules Teams were designed to disrupt their planning. Like an ADT warning sign in front of a house, they're also intended to send a message that this is not an easy target."
<< Like an ADT warning sign in front of a house >>
9mm machine pistols...armored vehicles...bullet-resistant vests...ADT sign ? Bottom line: intimidation. Try SS-Kommando.
The Praetorian Guard of Wall Street
no one is bigger than the market ...even the bernanke and the Giethner! These pencil pushing geek ivy league fuckers have never had someone grab them by the balls and say listen fucker, your not going to get away with this... Thats what happens in the real world and thats why we shouldnt have academic assholes that never earned a nickel or took a beating in their lives running things...we are all truly fucked
What a dufus.
Yesterday, I BTFD. Again today, I BTFD. I have not BTFD for over 1 year and finally held my nose and BTFD.
Timmay comes out today, of all days and makes the most asinine statements I have ever heard. Does that mean no more BTFD?
The Federal Reserve & US Treasury has NO EXIT PLAN - there are no alternative strategies - print $$$ till capitulation - they are all in period - BTFD, IMHO will remain for a while more, when you can't BTFD I am uncertain that it will matter as imbalances become so great that volatility makes it impossible to determine a DIP -
If this is all real then we only can blame ourselves - boys.
So what's it gonna take to grow up and see that people like this are put where they belong?
Buying The Fucking Dips?
Get Real - Get Sliver
Get over thinking anyone is worth as much as they say cause value needs be redefined - or we will get to live like the children we were raised to be.
I gotta catch a wave...
http://www.howtobuysilvernow.com
People will say that silver is overpriced at 35 dollars an ounce. The same thing they said about gold in the early 70's. Too bad Americans listened to them. Instead of buying gold at 35 dollars an ounce they were burying FRN's in thier back yards. OOPS!
This guy should write fortune cookies.
My ego is so big I think you are talking about me.
No word from the US siding with Libyan rebels. Already noted by their side. They know it's all about the oil, not 'human rights'
truth is stranger than fiction...
What? You guys don't believe the HEAD OF TREASURY??
He is absolutely right!! Central bankers can deal with everythign!! They are closest thign to gods ever!!
I urge you to BUY THE F~ING DIP!!
I bet even the Bernank is embarrassed by this... Geithner... what a fuckng tool.
They sure "fixed" it last time circa 2007.
Coming soo to a theater near you?
http://www.youtube.com/watch?v=th-PUbMquCc
This is just Tim assisting financial journalists on how they ought to shape their stories on high and rising oil prices and the potential impact on economic activity.
It's called propaganda. Tim is rather pathetic at it, meek even, but it is propaganda none the less. Expect to see the sentiment repeated endlessly in the media. "Traders are bidding oil price higher as middle east unrest continues, however the Federal Reserve and Treasury are confident..."
Actually it was an inside joke, as the people he was talking to have already exited the market and gotten thier wealth into silver, gold, and oil. And they have their tickets to get into the underground cities should they need to.
Chances of violent protests in Gulf States has jumped logarithmically
Gulf states like Texas? WTI is $99.23 pb as I type this!
$100.00 pb is a line that once crossed will have exponential ramification, and with great expediency.
Timmy also claims TARP made taxpayers billions in profits.
So I'll just send in my tax form with 'take it from my profits' below the signature.
Timmah is a promising talent in prime time comedy...
Timmy, timmy, tim. Is that what they taught you at Dartmouth? Maybe you should ask for a refund. What a gnome.
Gold is acting as flight to safety and dollar tanking unlike last year's violent clashes in Athens. Dollar has lost credibility, But also, my prediction, the rush to spend those dollars before they lose their value is on. First stage of hyperinflation disease
We are, all of us, now doomed.
LMAO! Indeed. And how, exactly, do they "manage these things" Timmah? Good God, I think they've managed things enough already...
They will invent a fuel that comes from the harvested blood/tears of the working class and savers of the world. The circle of life continues:
http://www.youtube.com/watch?v=vX07j9SDFcc
My stinky sensors are going on overload right now, even this durian is overwhelmed by the stench of this! Get ready to be BTFD'd! (buttfucked!)
just saw on bloomberg where head squid had recomended in financial inquiry not to raise base salries on the street, yet 8 monts later trippled his base to 2 mil per year...
Priceless BS my avitar likes
They need a quick fix stimulus package to distract..
How about:
iPads for america
American stock purchasing assistance program
Cash for gold
where is Harry?
I am sure he is still around. There are only about five people who comment on zero hedge. They all have about 50 ID's.
When I get tired of trolling I will audition for another role.
http://www.youtube.com/watch?v=BbuuzWCEqQE
Maybe Tyler should create a new poll: How many ZH profiles do you have?
My old man is a television repairman, he's got this ultimate set of tools. I can fix it!
Shit, are the commodities markets managed (read manipulated) or not? Looks plainly like they are. Get out, run for your life while you still have money that counts for something.
timmah just guaranteed another 30 point drop in the SP 500 with his comments. He will soon learn to keep his mouth shut.
It is probably not too late to buy the spxu. I'm already up 2%.
Gambling is a hell of a lot more fun than work.
It's not as if we all didn't know Timothy was a buffoonish tool with a bent on being the ultimate contrarian indicator. Sometimes, I wonder if there is a compartmentalized counter-Tim within himself. It's difficult to believe that such statements, in their bold, brash, and obnoxious in your face demeanor don't have some other additional intent.
You really can't make this shit up. What planet is this guy from?
Yeah, don't worry, we'll just borrow 100'000'000'000'000.0$ and the whole world will be happy! </sarcasm>
Fuck you WEF.
Oil up 4.3%
Tim and Ben may try to naked short WTI with POMO, or INJECT LIQUIDITY...duh, why not...it's worked since July 2010
Let me guess. By "The ecomomy" Shithead means "The Banks"
On a good day the kindest thing I could say to Geithner is "fuck off ,you piece of fucking shit dirt-bag"
On a good note,the citizens hopefully are getting closer to fertilizing the USA Tree of Liberty,with a little natural fertilizer,(aka) blood.
Earth to Jeethner:
You cannot print away geopolitical risk nor more oil
Blythe has just released the Kraken on silver market...
April 15th the question will be answered.
http://www.youtube.com/watch?v=6W07bFa4TzM
Atlas will shrug!!
this is why we need stem cell research. this man has had a stroke.
"We're way ahead of any other major economy." - ZH should bold that line too. That's amazing.
yo, Adianne I got your experience right here (grabbing crotch).... See the following link for the Sgt.Schultze "I Know noting, noting) Inspector General of the Federal Reserve's incredulous testimony .... We are so finished!
http://dailybail.Com/home/there-are-no-words-to-describe-the-following-part-ii.HTMLThis jerk-off has his head so far up his a-hole that he drools shit!!
Completely out of touch with reality!!
I think tptb are getting desperate.... Hold strong and keep converting paper to silver and gold!
Timmy the geisha boy has it exactly right: "the core of the financial system is in a much stronger position than before the crisis" due to the 100s of billions we have given it for free!
"WHAT THE FUCK ARE YOU GOING TO DO? PRINT OIL?"
Unlikely, more likely they will print a lot of money and we can burn it instead of oil. In this way the printed stacks will be torth something :)
hey, you may have discovered the solution to the energy crisis: since Ben and Tim seem to believe they can print money to infinity, then perhaps we could all burn this never ending supply of fiat for energy.
so... are you saying "go long weyerhauser"?
heh
the world will be a much better place when he is dead....hopefully sooner than later
dmitry orlov "...autopilot till it collapsed."
http://www.youtube.com/watch?v=zrz5ucQACo8
Dmitry Orlov: Peak Oil Lessons From The Soviet Union
To suggest that the Soviet Union collapsed because of Peak Oil is a gross apology for socialism.
Sure, the economy is in much better shape. If you define "the economy" as being the financial sector's remaining workers and top execs. The whole financial sector is just another government dept. now, feeding on the people who don't work for the State.
Please please please believe in the magical Candy Mountain like Timmay.
http://www.youtube.com/watch?v=_yJCNNwHUOE
If he was/is doing some drug it would help explain his complete detachment from reality. Otherwise it's his own, and that would be even funnier.
is this the preamble to hyperinflation that gonzo laid out late last year?
""The economy is in a much stronger position to handle” rising oil prices"
Accurate when compared to 2/2009
“Central banks have a lot of experience in managing these things."
Also accurate in the context of the Fed's scope
And it is of course accurate the Bernanke can (i.e. theoretically that is) back out QE and raise interest rates
And Lehman had whatever billions in liquidity days prior to implosion.
Troubled times coming...
http://thehardrightedge.com/troubledwater/
Buy Physical silver
Pd is getting absolutely smashed again...
CONfidence on part of the sheeple has let the bagmen rip this market higher, on the back of POMO dished off to the PDs, of course.
They are losing control, though.
It's obvious to all.
The Bernank's quivering lip was the tell, on '60 Minutes.'
Once people lose confidence, which they most certainly are, they white knuckle their dollars, and if there's no credit gusher to fill some of that gap, the problem is compounded 10 fold.
Let's see where we are when money stops circulating.
I'll feel a whole lot better when Timmy, Ben, Lloyd, Hymie, Hank, and all their friends are wearing orange jump suits and bunking with the likes of Mongo, Bruno, Psycho, Hogg, Surely, Jimmy Roast Beef, and Joey bag o' donuts.
Timmay brings to mind a 12yo hunched in a corner with a spooge filled kleenex.
Weird..........says who.
He can't even handle a kfucin' 1040 Form. Hey, let's go Win The Future!
Barring news that we see timmah or bernank's heads on pikes, isn't it time to BTFD???
Geithner played by Kevin Bacon in Animal House.
"Remain calm. All is well."
http://www.youtube.com/watch?v=zDAmPIq29ro
Does anyone have video of him saying this...I wanna turn it into a rap like they did with the ShamWow guy???
"Geithner also said the U.S. financial system is in better shape than before the recession and is able to provide the funding needed for the expansion"???
Really? Last time I checked we were about 25 TRILLION more in the hole then we were back in Dec 07 if you include the loss in home value wealth to Americans. The FED has tripled its balance sheets and has doled out another 5 Trillion in backdoor loans to countries and corporations that will never be able to pay back the money. The government has raised the debt ceiling 8 times and the FED is still sitting on the toxic waste that supposedly caused the recession. What has really changed since the recession began? NOTHING, we have record numbers of people on government assistance and more people are poised to lose their homes then ever before. Not to mention that real unemployment has nearly doubled since the recession began and our government should be considered insolvent at best. Fannie and Freddie are ready to cave and all the props that have been instilled are failing. We have 45 States on the brink of disaster and Turbo says we are in better shape? By adding 0's to balance sheets and creating fiat out of thin air does't solve anything it only buys you time.Solving a debt crisis with more debt is simply insane. Well the time is up and now that the dollar is on the verge of losing its global reserve status. When this happens folks, hold onto your coaster seats because the ride down is going to be fast and furious. Prepare for a war as history only repeats itself again and again. This will be their attempt to cover their lies and point the finger at somebody other the themselves. This time the rest of the world won't be buyers, they will be sellers and will turn on us. We caused the global crisis with our greed and recklessness. The Casino grew and the addicts and synthetic junkies just couldn't get enough. Well time to check into rehab because this time there will be no back-up drugs to takes the place of your sythetic heroin. And this time we will be 25 trill deeper in the hole and not have the support from other countries who actually supported us for causing the world depression.
tahoe- yep... u shred any pow recently in the storms?
cant remeber who posted this here today but I found it very interesting
google "FOFOA Open letter to the heads of the EMU"
yep sure did hit that 5 feet of freshie... At least mother nature is looking out for us...see you in the trees pally and always remember don't be a Sally
My politically agnostic friends warn me that too much exposure to fedspeak and other self-dealing pabulum is toxic, whether from Embama, Ben-Hubris, TG, or GoDaffy (copyright pending), so I find myself changing channels or blog topics, a lot.
Quite a brilliant economist you've got there in the US folks.....I wonder what he is basing his theories on? That ranks right up there with....
1) "We will not monetize the debt....."
2) "The problem as we see it is contained to the subprime areas....there will be weaker areas but stronger areas too...."
3) "There are weapons of mass destruction in Iraq...."
4) "I can raise interest rates in fifteen minutes....."
I wonder if these morons will ever figured out...."that you can fool some of the people some of the time....however eventually when you do it enough....they all catch on".
I wonder if he sits down at night smiling to himself thinking that....boy now that was smooth....nobody will suspect a thing.....I am some salesman". I guess he forgot what short circuited the economy last time around. Of course the economy can handle 100.00 oil and food prices doubling every six months? Sure it can. People will pay anything right? Uh....no they won't and this is what happens eventually. Maybe it might be dawning on him that giving all these crooked bankers and kleptocratic finaciers FREE cash to invest where ever they feel they can make some sound investments isn't such a good thing. Maybe they'll use it to make money for themselves at everyone elses expense. Sort of like the theme around the housing market bubble. As long as profits are made...who cares who we hurt as long as I get my share. Simply brazenly moronic. However until people have had enough....and I hope it is soon, it will simply continue.
Unfortunately Marcus Aurelius the answer as you have well surmised is NO - they are so arrogant that they believe they can 'manage' their errant 'policies' - it is an abomination of epic magnitude & when the Karma Police arrive the consequences will be of Biblical proportions as world appears to be demonstrating the reality of the aggregate imbalances - God Save Us ALL
GEITHNER IS A FUCKING MORON!
THE ONLY PIECE OF SHIT THAT IS STUPIDER IS BEN BEELZEBUB BERNANKE.
the central bank does have a plan.
Heard all the unwashed masses into high density small footprint housing. Get rid of cars. Have us take rail controlled by govt to where they want us to go. Ohbummer is on record saying he wants gas prices as high as Europe.
Everything is going according to plan. It's just not YOUR plan.
I herd that.
I am so relieved! OMG
FUCK YOU TIM!! $20.00 to put ~6gal of fuel in my car.. fuck you, fuck you, fuck you..
I can't think of anything else of value to say here.. sorry.. but FUCK YOU, TIM.
Well I remember Bud Abbot and Lou Costello. What's wrong with the Timmy-Benny team as their successors?
Abbot and Costello were funny. Bennay/Timmay are just jokes - and not very good ones, either.
Troopers Would ‘Absolutely’ Use Force on Wisc. Protesters If Ordered
http://truthisliberty.blogspot.com/2011/02/troopers-would-absolutely-use...
Tim, Tim, Tim...Once again proving your mouth moves before any thoughts are engaged - Just wish I could parachute you in Athens, Libya, or Bahrain...then tell them the same story - Let's see how you are received...
DBO, an oil ETF that has been on a roll- low correlation to an unpredictable market is good for hedging purposes:
http://www.hedgefundlive.com/blog/ways-to-hedge-a-market-that-depends-on-the-actions-of-crazy-people
All hail my avatar!
I think he said don't worry about filing tax return also.
“The core of the American financial system is in a much stronger position than it was before the crisis,” he said. “We’re way ahead of any other major economy.”
This reminds me of Bush saying "the fundamentals of our economy are strong" just before the economy collapsed.
Get ready for Nixonian price controls
'give us roofs, not rent ceilings!'
Protest paying taxes until that idiot steps down, the fed is dissolved, and we have greater transparency from our shitshow government.
Here is Ben S. 'Quivering Lips' Bernanke, aka 'The Bernank,' aka 'Lloyd Blankfein & Jamie Dimon's pet', telling the incompetent media (see Steve LIESman at CNBS & Senate that there was no housing bubble from 2005 to 2007:
Bernanke in Denial 2005-2007You're in good company, Timmay.
I propose these crooks be given mob-style handles: Ben "Lips" Bernanke, Barack "Crickets" Obama (for the only sounds that come from the white house as he keeps his mouth shut during domestic scandals, riots and world crises), and Timothy "Hand Jive" Geithner. Keeps snoopers and outsiders from hearing real names, getting only things like: 'Lips told Crickets he wants Hand Jive to do the public testifying'...
But, but, but he was Time's Person of the Year!
And he got a 1600 on his SATs! And he's a student of the Great Depression! Surely he knows what he's doing, right guys?
Guys?
Ah, Way ahead of any other economy, eh? In what way sir? Here is where the U.S. is ahead. It is ahead in transferring private liabilities onto the public. It is also ahead in global financial power. Ergo, the banksters are poised to run ruin over the planet. The end-game is afoot. The end-game, the great goal of Geithner and friends is the total privatization of the globe - with major U.S. financial firms as the owners.
A bit over 200 years ago, the French began the process of removing the kings from power. The process continues to this day. Yet, a new brood of kings is emerging and their power is growing fast. King Dimon, King Blankfein, King Bernanke, and his Prince - Geithner. Do not be fooled. Geithner is telling the truth. It is not the U.S. that is about to "collapse." It is freedom. Soon, very soon, we shall all be owned. Or is that pwned? Read Naomi Klein's Shock Doctrine. It has all been spelled out, the process revealed, and yet we continue to believe TPTB are foolish, taking the wrong road, etc. Our blindness is caused by looking at the world through a frame created by the corporatists. "Free markets", "invisible hands," etc. - they sell us an ideology - Capitalism - by ignoring its warts - its fallacies. Indeed, some imbibe this swill as if it is a Blessed Sacrement, the imbibing of which denotes them as "true believers", distinguishing us from the unwashed masses - those who believe that the economic system should serve society, not the other way round.
Once you accept that U.S. fiscal and monetary policy is directed toward making the dreams of the corporatists come true (they dream of owning everything - including you), those actions and statements you see as crazy or stupid will begin to make sense. Then, you must ask yourselves, "What am I going to do about it?" And "When?"
And Geithner actually believes that people believe what he says? One delusional mutha fucka.
Help Timmeh! http://thecivillibertarian.blogspot.com/2011/02/we-have-promising-future...
Timmy needs to visit the BEA site and see what happened to GDP the last time gas spent any time above the $3 per gallon mark.
Then he needs to take a permanent vacation to Libya or Egypt. The change would do him some good....
TYLER! You have won my award for funniest shit of the week. It's no easy feat to make me laugh out loud- but les feat complet'. Bless you. http://thecivillibertarian.blogspot.com/2011/02/absolute-best-thing-i-ha...
TIMMY IS A LIAR
How does this man still have a job? He really is completely fucking delusional. Or lying through his teeth and arrogant enough to believe anyone believes a word he says. What a piece of shit he is.
Is there a misprint? Did Geithner say "managing" or the more honest and accurate "mangling"? No.... I guess not.
Geithner: “The economy is in a much stronger position to handle” rising oil prices. Central banks have a lot of experience in managing these things.”
Translation: “Two entities in the economy are private: one, the oil industry, and two, the Federal Reserve. The investment bankers own them both. So it’s pretty easy for the central bank to manage the oil business.”
Trust the Fed? What a load of shit. Trust him, the SecTreas? He can't even do his taxes!!
I agree with -273
It is time to demand the ass of Tim Geithner and Ben Bernanke served over a BBQ spit.
Timmy is maybe purposefully creating the excuse for Obama's campaign to get rid of him before next year.
Is he a lunatic or a mendacious fraud? I am biased towards the second. I just don't think that he believes what he is saying.
We are all so, so lucky to have Turbo Tim looking out for our interests. I think of him as kind of like the stand-up comedian on the Titanic.
If you're a liar u get mud on your face...if you're a clown you get a red nose...if you're a politician you get egg...if you're a bankster you get a raise! Where is the injustice in all this I wonder!
The only thing Geithner and Bernanke know about keeping inflation under control is keeping energy and food costs out of the equation.Where can we get a job like that.
Timmey takes the award of the most stupid, including all humans, elves, half-elves, hobbits, gorillas, monkeys, insects and any other semi-intelligent lifeform.... hands down!
He said today "The financial system is in better shape than before the recession" Yes idiot, but that is because they found out that they have an unlimited backstop from the DOT that you happen to run, but since you bankrupted the DOT, now they can only receive worthless paper with pictures of dead guys from your presses!!! You still shure it is in better shape?
To paraphrase Richard "Tricky Dick" Nixon: we're all fucked now.
The plan has now been baking in the oven for two years and it looks like it is finally cooked... Talk to us about the real plan you had in mind Timmay.
http://www.zimbio.com/Tim+Geithner/articles/72/Geithner+Dirty+Little+Secret+Transfer+Trillions
And Zimbabwe Benzine had the same plan too. Just look at where the last 2 years have really gotton us...
http://www.globalresearch.ca/index.php?context=va&aid=14625
The goose has been goosed and this old man has played knick knack patty whack so many times now even the kids don't want to play anymore.
STFU Geithner you pathetic dumb fuck.
FIFY, Turbo-Timmy.
"There is nothing in the situation to be disturbed about."- Secretary of the Treasury Andrew Mellon, Feb 1930
"[1930 will be] a splendid employment year."- U.S. Dept. of Labor, New Year's Forecast, December 1929
Maybe if he gets a haircut he will think cleaer?
Who needs oil in timmy's and obummer's make believe world? We all make six figures online from home! We all drive cars that run on the sun and the wind and clean coal(WTF is that?)! We right multi billion dollar light rail to wherever obummer builds the rails! We'll all live in high density housing! We'll all eat our portion of gruel and nothing more.
Welcome to utopia!
Sweet, Timmy. When can I expect my "Please Don't Drive Today" inducement?
Don't worry about the amounts; we'll fill them in for you!
This is the 2011 equivalent of our former SecTreas in 2007 thru early 2008 (paraphrase): "The problems with the housing market will not drag down the over all economy."
Has anyone said "The fundamentals of our economy are strong" lately?
That is the quote of the day.
I don't know why any one should be concerned. Between his expertise in handling world oil markets plus Ben's 100% assurance he can control inflation I fail to see what your concerns are.
I don't know why any one should be concerned. Between his expertise in handling world oil markets plus Ben's 100% assurance he can control inflation I fail to see what your concerns are.
I don't know why any one should be concerned. Between his expertise in handling world oil markets plus Ben's 100% assurance he can control inflation I fail to see what your concerns are.