Tim Geithner Refuses To Brand China Currency Manipulator (Again), Says Yuan Rate Impairs China Inflation Curbing Ability

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Fri, 05/27/2011 - 18:00 | 1318284 SolidSnake961
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what poor sap has to write all that i nthe report?

Fri, 05/27/2011 - 19:07 | 1318397 legal eagle
legal eagle's picture

A government attorney with a blank look on his face praying for the long weekend wrote it.

I think the US government employee deciding to label the Chinese a currency manipulator would be hit by lightning, or otherwise die from peak hypocrisy.

Fri, 05/27/2011 - 19:12 | 1318413 NotApplicable
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Sat, 05/28/2011 - 00:29 | 1318842 Problem Is
Problem Is's picture

"what poor sap has to write all that in the report?"

If Goldman wrote the last one, then JPM wrote this one for the US Treasury...

Fri, 05/27/2011 - 18:03 | 1318292 66Sexy
66Sexy's picture


Fri, 05/27/2011 - 18:06 | 1318296 richard in norway
richard in norway's picture

so Tim is asking china for debt forgiveness, do you think hes going to get on his knees and beg

Fri, 05/27/2011 - 18:47 | 1318364 nope-1004
nope-1004's picture

He either takes it down the throat now, or in the ass later.

Choose yur poison, Timmay!


Fri, 05/27/2011 - 18:04 | 1318298 buzzsaw99
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I found the Chinese caligraphy for "Turbo Timmy":



Sat, 05/28/2011 - 14:42 | 1319563 DavidC
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Didn't realize he has breasts as well...!


Fri, 05/27/2011 - 18:12 | 1318315 bob_dabolina
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If currencies aren't backed by non-dilutable commodities and are instead governed via a small monopolistic cartel of men than all currencies are, by definition, subject to manipulation

As such, citizens of the world, are subject to ill will by the machinations of this group which is in such a position to never suffer the consequences of their insidious and irresponsible actions. 

This situation is analagous to two kids horseplaying and as a result break a vase. The parent comes in and says "what the fuck?! who the fuck is responsible for this bullshit?" And both of the kids point fingers at eachother. 

Sat, 05/28/2011 - 11:22 | 1319242 old naughty
old naughty's picture

If you don't mind me asking, who IS the parent in the situation?

Fri, 05/27/2011 - 18:17 | 1318317 THE DORK OF CORK
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The final nail in the coffin was when the US treasury prime directive was no longer the solvency of the US treasury but the order of "The global economic system" - in others words the bankers.

I was struck by the recent Adam Curtis interview of Robert Rubin - he made no reference to America but simply the games that Central Bankers play - and this guy was THE US TREASURY SECRATERY.

During the last Great Depression at least the Treasury held out to a large extent against the wishes of the FED but now that organisation seems to be completly infiltrated by the priesthood.

In any normal society Rubin would have been strung up years ago.



Fri, 05/27/2011 - 18:33 | 1318337 lizzy36
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Geithner is the ultimate example of what is means to fail up in the USA.

Jesus Christ In the middle (5 days after LEH went down) of the financial crisis not even Pandit returned his phone calls (and pandit is the biggest fuck up going considering he said NO to some sort of merger with Goldman (mind you pandit got Citi to pay him $14m and absorb this POS hedge funds he ran).

Welcome to the worst Treasury Secretary in the history of the United States: Tiny Tim Geithner.

And for his trouble we all know when he leaves government his reward for utter failure will be multi millions at some Wall Street firm.

What a system.

Fri, 05/27/2011 - 19:19 | 1318430 NotApplicable
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Hey, it takes a special kind of douchebag to preside over all of this destruction without displaying any feelings of personal culpability or remorse.

Heck of a job, Timmah.

Fri, 05/27/2011 - 18:44 | 1318361 RobotTrader
RobotTrader's picture

The U.S. is toothless?

One day the U.S. is going to threaten default exclusively on all U.S. Treasury debt held by China.

We have that as the biggest "weapon of mass destruction" of all.

Even bigger than our fleet of aircraft carriers and destroyers equipped with the latest F-18's and rail guns.

Fri, 05/27/2011 - 19:04 | 1318393 mynhair
mynhair's picture

RT, WMD = 'Merikan Idle?

Fri, 05/27/2011 - 20:43 | 1318543 Vic Vinegar
Vic Vinegar's picture

Perhaps you intend this as a joke, or perhaps my pro-Hollywood bias is showing, but there is truth in what you said.

America ain't going away anytime soon, Turbo Timmay be damned.

Ours is also the first culture that aims to include rather than exclude. The films most despised by the intellectual elite--those that feature extreme violence and to-the-victors-the-spoils sex--are our most popular cultural weapon, bought or bootlegged nearly everywhere. American action films, often in dreadful copies, are available from the Upper Amazon to Mandalay. They are even more popular than our music, because they are easier to understand. The action films of a Stallone or Schwarzenegger or Chuck Norris rely on visual narratives that do not require dialog for a basic understanding. They deal at the level of universal myth, of pre-text, celebrating the most fundamental impulses (although we have yet to produce a film as violent and cruel as the Iliad). They feature a hero, a villain, a woman to be defended or won--and violence and sex. Complain until doomsday; it sells. The enduring popularity abroad of the shopworn Rambo series tells us far more about humanity than does a library full of scholarly analysis.


There is a lot of shitty stuff going on in America today that is very disturbing and should be changed.  Likewise, there are a lot of hataz here that want to see America go down.  Neither side is going to fully get what they want.


Fri, 05/27/2011 - 22:14 | 1318696 JW n FL
JW n FL's picture


nice read! mucho grass-e-ass!

Fri, 05/27/2011 - 19:06 | 1318402 legal eagle
legal eagle's picture

By then, China will have hedged 100% of the risk, instead of 50% of the risk, and they will own 5% of US debt instead of 20% -- as the Fed continues to gobble.  Time is always on the side of Chinese.

Sat, 05/28/2011 - 00:54 | 1318874 bigwavedave
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Fri, 05/27/2011 - 19:54 | 1318482 Hephasteus
Hephasteus's picture

You mean how our super smart scientist strapped radio beacons onto missles and demonstrated a missile defense system that had no way of actually working in the real world. While congress went let's fund this let's fund this!!!

Getting bluffs called is a bitch.

Fri, 05/27/2011 - 20:15 | 1318510 nufio
nufio's picture

thats denningers point of view as well.

of course then china would seize assets of all US companies in china, and no other country will be willing to buy US debt after that.

Sun, 05/29/2011 - 06:27 | 1320367 sethstorm
sethstorm's picture

Just desserts for US companies turning their back on the US.  The US military will take care of the rest.

Fri, 05/27/2011 - 20:36 | 1318537 FastBoat
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Who buys bonds after that exactly?

Fri, 05/27/2011 - 21:10 | 1318607 Vic Vinegar
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PS: I think you may be a genius Robo.  Stock tips aside (I am indifferent to them) there is a lot of truth in what you bring to this site.

Whether one wants to spend this holiday weekend celebrating with family & friends or prepping for the end of the world, enjoy your time here.  Good luck to all. 

Fri, 05/27/2011 - 19:12 | 1318416 slewie the pi-rat
slewie the pi-rat's picture

yup, the yuan has risen abt 2.5% against the dollar!  during QEII, no less.  so, dollar/yuan-wise, the inflation will be a bit less for china.

timmah is obviously pleased.   the wheels seem to have not come off, yet!  he's not callin anybody anything, til he gets that fuking ceiling taken care of!!!

Fri, 05/27/2011 - 19:19 | 1318422 knukles
knukles's picture

What with recent revelations by that spoiled snot Zuckerberg about his eating habits, I wonder what would happen if he and Timmah were stranded on a desert isle? 
Any thoughts, comments, suggestions?

Fri, 05/27/2011 - 19:16 | 1318424 NotApplicable
NotApplicable's picture

In other news, The Squid hires former Sen. Judd Gregg as an international advisor.


Personally, I could never hire someone with meaningless double letters at the end of both names. It's just too nonsensical.

Fri, 05/27/2011 - 19:32 | 1318448 legal eagle
legal eagle's picture

just like the word nonsensical

Fri, 05/27/2011 - 22:19 | 1318698 JW n FL
JW n FL's picture

you both smoke weed or did.. more over you have not offered to share! which makes you cock blockers of the worst sort!

Sat, 05/28/2011 - 08:50 | 1319115 oldmanofthesee
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Ya' know, all the years Gregg had me fooled, thinking he was too noble to end up in the employ of the squid.

Sat, 05/28/2011 - 09:12 | 1319128 knukles
knukles's picture

You mean GGoldman?

Fri, 05/27/2011 - 19:30 | 1318450 sabra1
sabra1's picture


so, oBLAHma did his own version of robo signing the patriot act! how many forgers would love to own one of those gizmos?

Sat, 05/28/2011 - 09:13 | 1319131 knukles
knukles's picture

You mean he signed it "Linda Green" and dated it a/o 2008?

Fri, 05/27/2011 - 19:52 | 1318478 sasebo
sasebo's picture

When you're a delusional asshole like stupid little Timmy, you just try to bullshit your way through. No clue.

Fri, 05/27/2011 - 19:54 | 1318484 Hephasteus
Hephasteus's picture

DotCom crash 2.0 china edition.

Fri, 05/27/2011 - 20:48 | 1318553 tom a taxpayer
tom a taxpayer's picture


Geithner and previous Sec of Treasury Hank "the mole" Paulson have screaming conflicts of interest which should have disqualifed both from serving as U.S. Secretary of Treasury. Geithner can not be expected to investigate himself for his potential crimes at the NYFRB. Nor could Paulson be expected to investigate Goldman Sachs, or himself as former GS CEO, for potential crimes.

Paulson is the Godfather of Wall Street. Geither was and is a "go fer", a lap dog for the Wall Street dons. Among the Wall Street Mafia, Godfather Paulson is a man of respect... Geither is just a "front man", a patsy.


Fri, 05/27/2011 - 20:58 | 1318582 oldman
oldman's picture

Perhaps, the machine will re-construct itself as it self-destructed: mindlessly wandering from pillar to post. Not to worry, buckos!               oldman

Fri, 05/27/2011 - 20:59 | 1318584 chinaguy
chinaguy's picture

China has bitch slapped this administration so many times the only way they can look strong is just to give China what they want. 

Fri, 05/27/2011 - 23:09 | 1318749 Yen Cross
Yen Cross's picture

  Pay back!

Fri, 05/27/2011 - 21:01 | 1318593 KillTheFed
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Everything is going according to the script.  Geithner (and his IMF/banker bosses) want the yuan to freely float so they can control and destroy China's economy.  Our exportation of inflation to China is intended to achieve just that.  By creating the problem (inflation in China) we then offer the solution (free floating yuan).  I hope the Chinese are smart enough to know this is part of the economic offensive the West is engaging on against China and Russia to expand the dollar/West's hegemony.

Sat, 05/28/2011 - 06:07 | 1319038 Urban Redneck
Urban Redneck's picture

Dollar hegemony will die, and the American populace will pay the price.

Sat, 05/28/2011 - 08:20 | 1319094 thefedisscam
thefedisscam's picture


Very well said! And Chinese are smart enough, and realize what you said. China will NOT free float Yuan, NOT until the day when they are as strong and as big financially as the U.S., so NO currency speculators can crash their economy when they free float Yuan.

Sat, 05/28/2011 - 10:24 | 1319181 sethstorm
sethstorm's picture

If China dies a horrible death, I'm not sure that there will be much sympathy in the US.

Fri, 05/27/2011 - 22:07 | 1318688 Blorf
Blorf's picture

OK, was anyone really expecting Tiny Tim to "get tough" with our owners?  

All they have to do is threaten to sell some bonds and we're f*cked.  Just like Britain and the Suez crisis 60 years ago.



Fri, 05/27/2011 - 23:41 | 1318780 Hansel
Hansel's picture

Wrong.  First, the Fed holds more treasuries than China.  Second, Bernank can buy at whatever price he feels like the treasuries China decides to sell.  China doesn't own a damn thing.

Fri, 05/27/2011 - 23:03 | 1318741 Yen Cross
Yen Cross's picture

  This is nothing new. China has unloaded, on the offshore markets for 20 plus years!


   The crap they sell us is JUNK!

Sat, 05/28/2011 - 09:18 | 1319132 knukles
knukles's picture

Them boats
them boats,
them junk boats...

Fri, 05/27/2011 - 23:12 | 1318748 Yen Cross
Yen Cross's picture

  Chinese people are nice. IT's a machine!! Emperor's ruled. They were always affraid..

       China is a ghost city! Macau!! Land of disfunction!!

Fri, 05/27/2011 - 23:17 | 1318753 Yen Cross
Yen Cross's picture

  P.S. The French and English are PUSSYS! They will get bailed out in the last minute as usual! American inguenity and resources will save Europe again. I'm taking Russia this time around! PEACE!

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