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Tim Geithner Responds To Druckenmiller With More Fearmongering And "Assured Destruction"
Not even 24 hours after Stanley Druckenmiller said to ignore all threats by the kleptocratic kartel [sic] of a world collapse should the debt ceiling not be hiked, as if on cue the tax-troubled treasury secretary has released another letter, this time to Michael Bennet, D-Colo, in which he rehashes all the usual threats that Hank Paulson pulled out of his sleeve when he presented his 3 page term sheet demanding congress give him unlimited powers to do anything Goldman, er, he saw fit to preserve the banker status quo. Nothing new in the letter, just more of the same: “A default would inflict catastrophic far-reaching damage on our
nation’s economy, significantly reducing growth and increasing
unemployment...Even a short-term default could cause irrevocable damage to
the economy. A default on Treasury debt could lead to concerns about the solvency of
the investment and financial institutions that hold Treasury
securities in their portfolios, which could cause a run on money market
mutual funds and the broader financial system. A default would call into question the status of Treasury securities as
a cornerstone of the financial system, potentially squandering this
unique role and the economic benefits that come with it." It is sad that the Treasury has succumbed to another bout of fearmongering because as Zero Hedge has been claiming since late 2009, and as Gross and Druckenmiller have recently reaffirmed, the only threat to the "confidence" of the US is if (or more correctly "when") the legislative bodies of the US succumb to this latest round of completely flawed, irresponsible and wrong mutual assured destruction rhetoric, and once again hike the debt target, this time to a total that is about 115% of US GDP.
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Save the banks or save the world.
Timmy chooses save the banks... he is an odd toad.
No. Well, yes ... but on this he's just acting under orders.
This Secretary of the Treasury has earned my disgust and contemp, just like the last one did by playing the same trick on Bush 43. (And then Bush 43 showed us that he didn't really understand the free market, fiat money, nor the Constitution by caving to Paulson's hyperbolic warnings.)
well, Bush 43 did demonstrate ignorance as you say, but what's more telling to me is (was) his pathetic need to have a Big Daddy tell him what to do, otherwise he wouldn't know what to do. Hanky-Panky Paulson was just Case #2, Cheney being Numero Uno, embedded for 8 fuckin' years.... Holy shit, how bad have things got? POTUS is a permanently altered-state position, US Treasury Sec. a laughing-stock, Congress a gang of tricked-out whores masquerading as buffoons, and on and on & on. This be some scary shit.
don't forget - cheney was a signer of the Neo-Con war-lobby declaration of war on the entire world, the so-called "PNAC" claims for unilateral US world domination by military force, "Project for a New American Century http://newamericancentury.org/statementofprinciples.htm
But since over half of the PNAC signers were Neo-Cons (Israel war-lobby "intellectuals" with direct ties to Netanyahu's Likud govt & israel 'national security' apparatus), including founders Bill Kristol, Bob Kagan, Paul Wolfowitz, Scooter Libby, Doug Feith (etc.) - it really should be called the "NEW ISRAEL DOMINATED CENTURY," with just enough WASP co-signers to give it a (barely) "American" flavor (people like Jebby Bush, Rumsfeld, Cheney, Dany Quayle, Gary Baur, Steve Forbes, and a sprinkle of Catholics like 'moral values' scold Bill Bennet.)
Another Neo-Con PNAC signer, Paul Wolfowitz, had been #2 under (Secretary of Defense) Cheney at the War Department during Bush-1's Gulf-1 war against Iraq (in Kuwait) in 1991 - it was THIS LONG TERM ALLIANCE between Cheney & the JEWISH WAR LOBBY which propelled him to the top of the GOP ticket in 2000, as the most powerful VP in U.S. history.
Oh- and VP Cheney's CHIEF OF STAFF was no less than MARC RICH pardon fixer, "D.C. superlawyer," I. Lewis 'Scotter' Libby - Wolfowitz pal, and Neo-Con fixer extraordinaire.
Libby would later be CONVICTED of OBSTRUCTION OF JUSTICE and PERJURY in the CIA 'outing' scandal.
Remember - Martha Stewart WENT TO PRISON, NOT for "insider trading," but for "LYING to federal prosecutors." Libby was convicted of the far worse PERJURY under oath (in an issue of a breach of national security, the "outing" of an entire CIA undercover operation!) - and never saw a day of prison.
More importantly (than merely pointing out the APARTHEID nature of the US 'justice' system under the Neo-Cons) - Dick Cheney, the power & force behind the Bush presidency, was a PUPPET of the israel war lobby from 1991 to 2008 - not only was Cheney FUNDED by the Wolfo-Libby crew (with their direct ties to AIPAC & the israel govt.) - but when Cheney was revealed to have been DEALING WITH Saddam Hussein's Iraq BEHIND THE BACK Of the US $1 billion EMBARGO on Irag in late 1990s, the Neo-Con Meyer/Graham WASHINGTON POST and Sulzberger NY Slimes COVERED UP and WHITEWASHED the story that had a clear "TREASON" taint to it - Cheney's Halliburton was selling Iraq vital oilfield equipment (for some lousy $73 million via European subsidiaries) UNDERCUTTING the embargo, and at a time when US military jets were BOMBING Iraqi positions in the "no-fly zone" !! http://www.globalpolicy.org/component/content/article/170/42166.html
The Wolfowitz-Kagan-Perle-Feith written israel strategy paper for Netanyahu "SECURING THE REALM" http://en.wikipedia.org/wiki/A_Clean_Break:_A_New_Strategy_for_Securing_the_Realm
http://www.informationclearinghouse.info/article1438.htm
would be given an "American" flavor in 1997 and morph into the PNAC "American" "blueprint for Iraq war" http://newamericancentury.org/iraqclintonletter.htm
- and Dick Cheney would be the HIRED FRONT MAN to make the Neo-Con goading of US wars in Mideast & Central Asia come to life (& death-dealing destruction) - even if they had to let twenty-odd al Qaeda terrorist roam America with impunity, and hijack 4 airliners on 9-11, to bring about their precious wars...
The political hacks are not 'tricked'. They're in on the game.
They do what their masters tell them to do.
isnt it well past time to find out just who is right.......either they are bluffing or they are right.....but we should find out once and for all
Lil timmy, you mad ?
leave the shitty deals alone... we are awsome and shit
Wind up and kick "Little Timmy" kick! You can do it little buck-a-roo!! I believe in you! Signed, The Tooth Fairy
Treasury Secretary Geither is focused on the role of US 'industry' within 'emerging markets'. He should, IMO, in part, turn his authority toward the smart people that, by bad luck, find themselves in deporable conditions within the USA. Anything else is a human resourse issue that any respectable money management firm... might lose sight of.
http://www.charlierose.com/view/interview/11663
http://www.charlierose.com/view/interview/11237
http://www.charlierose.com/view/interview/11132
Request to our Treasury Secretary for a "Financial State" of the Union Address, addressing the following:
1) Total US Assets description (actual tangible property, not estimated)
2) Tonnage of US-held gold and silver (held in US Government facilities)
3) Your plan to keep the US Dollar strong and financial assets secure
3) Total amount of your share of the robbery from 2008 to present
4) Your favorite country (obviously not this one)
5) Your future goals (Emperor of a quadrant, perhaps?)
"Assured destruction"?
Promises, promises...
They will announce a plan for Japan and swaps to boot. I guess that will stall enough to alleviate MBS on sheets. Who can hold there breath longer?
Pissing match, hope Timmah loses...
punk geithner is the biggest hoax since obama www.obamacrimes.com
is there really anything more left to steal.
fuck you timmy....
We assumed the education of Barrak Obama was ongoing but given his legions of minions unwilling to produce anything its over. As we also know always look for the strings so they said. I was looking for them, and it does not matter any more since it is in the CFR anyway to what is allowed to generate net working capital. Over production in many segments played a part since as mention above so many moving parts, so they adopted LEAN and other menatally opiated measures. America is split to far apart and it will not change and they know it. Nobody can solve this since the Fatal Deceit warned has consequences. We all know this started in the very early eighty's. I, as you, may or may not know who, but we sure as hell knew when. We were helpless here until others lead the way called solidarity. The Globalist and piggyback globalist just adapted to pressure points so get over it. Americans "few" as others cannot see this since I am now convinced they must loose all to find what they truly deserve. We were warned, no excuse. When the wall fell at the top the rest just went on as "eh new boss" and things went on as before. Bottum line is the Senate is surrounded. Good or bad it is what it is. I asked mine to paddle there own canoe, and see who is what they say they are. We must help out trade partners who are in chaos. We must ask them to prove WHO they are. Printing is suicide..
/rant off sorry
Timmy Geithner - you are a insipid, faux self assured, asswipe. GS Paulson already pulled the "print a $Trill or we're all goin' ta die" trick. Why say the same thing? You don't even own 1MM shares of GS like he did.
You are not only incompetent you have zero imagination.
So this is what we are going to do - The market is going to put on a DSK mask and you are going to wear a maid's mask...Ok?
Maybe this will teach him to listen to AUTHORITAH!
Reads like a passage from Oliver Twist!
"No one in this world has ever lost money by underestimating the intelligence of the great masses of the plain people. Nor has anyone ever lost public office thereby."
H.L. Mencken
Debt = slavery = unsustainable.
Sooner or later one thing becomes unbearable and it will have to end.