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US Treasury's Lew (Ironically) Tells Japan: Stop Manipulating The Yen
Despite Lagarde's call for more manipulation and money-printing from the world's central banks yesterday, US Treasury Secretary Jack Lew is not amused with his Japanese 'colleagues'. Speaking in Washington, Lew had plenty to say on Europe (not out of the woods), China (need to open markets more), and the IMF (US commitment remains solid - oh, apart from the funding part); but it was his entirely ironic comments aimed at Abe and Kuroda that were risible:
- *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING'
- *LEW SAYS JAPAN CAN'T RELY ON FX RATE FOR ECONOMIC ADVANTAGE
Pot calling kettle black? Or a person who lives in a currency-war "glass-house" throwing stones? Pick your tortured analogy but the US hypocrisy continues.
He had plenty to say...
G-20...
- *LEW SAYS U.S. COMMITMENT TO IMF REMAINS SOLID
- *LEW SAYS A G-20 FOCUS OF HIS WILL BE INTL FINANCIAL STANDARDS
Japan...
- *LEW SAYS JAPAN CAN'T RELY ON FX RATE FOR ECONOMIC ADVANTAGE
- *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING'
China...
- *LEW SAYS CHINA IS CONCERNED WITH PACE OF ECONOMIC CHANGE
- *LEW SAYS CHINA’S GOAL SHOULD BE TO OPEN MARKETS
- *LEW SAYS FX AND OTHER REFORMS ARE GOOD FOR CHINA’S ECONOMY
- *LEW SAYS CHINA IS INTENT ON PATH OF ECONOMIC REFORM
Europe...
- *LEW SAYS SOME EUROPEAN NATIONS NEED TO DO MORE TO BOOST DEMAND
- *LEW SAYS EUROPE NEEDS TO GET GROWTH TO HIGHER LEVEL
- *LEW SAYS EUROPE IS NOT COMPLETELY OUT OF THE WOODS
US...
- *LEW SAYS LATE-FEB. IS TIME TO FOCUS ON RATHER THAN EARLY MARCH
- *LEW SAYS WAITING UNTIL LAST MINUTE ON DEBT CAUSES DAMAGE
- *LEW SAYS CONGRESS SHOULDN'T PLAY GAMES WITH GOVT PAYMENTS
- *LEW SAYS CONGRESS IS GOING TO HAVE TO ACT ON DEBT CEILING
- *LEW SAYS 2014 STARTS WITH CONFIDENCE ECONOMY TO DO BETTER
»
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Kyle Bass quoting a US government official during a discussion with him:
"We're going to kill the dollar."
The Fed is one big glass house and everyone inside, including this Lew idiot ,is throwing rocks around the place at an ever increasing volume and speed. Why would anyone pay any attention to what these idiots mutter and squawk anyhow ?
"He can't do that to our pledges!"
"Yeah! Only WE can do that to our pledges!"
Lews a hypocrite - To use an old expression isn't this a case of the Pot calling the Kettle Black?
well perhaps, but what Japan is doing isn't kosher. Joke Lew's swath of corruption and destruction at citi ( save for a taxpayer bailout ) speaks for themself in terms of what he's all about.. The man simply doesn't like competition in the arena of manipulation.
Lew is a clueless hypocrite, much like the POTUS...
http://www.thedailybeast.com/articles/2014/01/15/senior-uk-defense-advis...
Gota keep the spinning plates on the poles spinning. Its the flow, the swapping, traffic. Elderly diaper wearers, depressed salarymen, slave homeless nuclear workers, sexles childless jobless Japanese 'utes have to redouble effort!
Good luck with that.
German burned since 1914 aren't going on any wacky spending binge.
So fughedabut the Germans .
In good MMT fashion, Lew should roll out Krugmans big trillion dollar coin.
Maybe put like ten on tour like the little Vietnam Central Planning War Memorial.
kill the dollar to save the debt pile; but not in 2014 when $ will surge.
A man called Lew begins to sound Lewd!
The criminals at the Fed want to destroy the US dollar.
As Russia mocks US banking and Gold manipulation (Zero Hedge mentioned in article): http://english.pravda.ru/business/finance/07-01-2014/126559-gold-0/
when a house already burned down 99%, it's kind of weird to complain when somebody throws in a burning sigaret at what remains of the house...
"Stop destroying your currency so we can destroy ours!"
How in the fuck is this not a traitorous act, punishable by death?
Oh wait...
The real irony for me is that Japan is facing growth issues due to aging demographics whereas the US constantly lies about the labor participation rate going down due to an aging population. It is fine for a fake excuse.
Perhaps, but Japan is a small island, the US is not. In fact the economic activity and resources of a single state, like texas, dwarf those of Japan. Yes, the policy is ironic, but much like "laws" these days, I don't think policy means shit anymore.
Lew seems to be projecting....
and "LEW SAYS U.S. COMMITMENT TO IMF REMAINS SOLID" reminds me that the IMF wants to double participant's quotas, but the last US budget deal has no money for that
what happens if the other nations go ahead and the US loses it's current proportion of voting rights?
and if nothing happens... oh ho ho, a defanged, impotent IMF?
The NSA also complained to Japan about their typography which looks like secret drawings... JAPAN SHOULD START USING THE ALPHABET AND STOP DOING SO SECRETLY!
Lew needs to improve his signature from a 1st graders level...and then get a real education...
Too funny....
https://www.google.com/search?q=jack+lew+signature&tbm=isch&source=iu&im...
You're kidding me!!! LOL
it's just not funny anymore .. the ultimate i don't give a crap sig
It's fitting that the last signature on what is soon to be a worthless piece of crap FRN is a cartoonish scribble.
Graphologists have deciphered the hidden meaning of those eight inscutable loops: 'WHAT, ME WORRY?'
To me the loops resemble coiled barbed wire, such as atop the fences encircling FEMA camps.
duplicate
duplicate
Oh how these arrogant assholes annoy the crap out of me. Stop manipulating your currency. WTF does he think we are doing between zirp and buying 75 billion a month worth of crap assets? The whole freaking world just needs to take an overnight U.S dollar dump and introduce a little humility to these assholes.
the ECB is currently shrinking it's balance sheet at a pace which nobody would have believed it not long ago
and fervently hopes nobody notices too much, so that the EURUSD does not go up. so no chance of hearing warnings from here
Nothing lasts forever.
Lew says a lot but we've heard it all before. When you appoint somone like him, you're not going to get fresh ideas or independent leadership. You're getting a rubber-stamp conformist who is beholden to Wall St.
Lack Jew is a cucking funt!
His name was FRANCIS SAWYER!
His name was Francis Sawyer.
Here Here!
Lew ryhmes with?
Fuck "The Tribe"
"Stop destroying the yen!"
*yen carry trade ends*
*US stock market crashes*
"Why did you stop destroying the yen????"
Most major commodity markets
in the West have fallen under
the pall of manipulation,
Lew's presumably's content with
the Fed's manipulation of
money policy and the mortgage
market at the expense of
everyone but the banks, and I'd
guess he with the crowd insisting
Beijing raise the value of the yuan.
Looking at the impossible trinity:
A fixed exchange rate
Free capital movement - Freedom to invest and withdraw money
An independent monetary policy - Which is essentially managing inflation
(derives from:)
https://en.wikipedia.org/wiki/Mundell%E2%80%93Fleming_model
the latter insistence is driving...
quoting from hard copy:
EverBank "Review & Focus,"
January, 2014
"Most of Asia and Germany are
now using the renminbi as the
financing currency in trade.
This is huge, folks."
Along with methodically RAISING their
minimum wage, Beijing, I assume, will
likely soon see Bernanke's efforts to
inflate away the mortgage bubble as
like staring a gift horse in the mouth.
Bernanke and Lew will have let the
non-bank GNP tide leave Best Buy and JC Penney
high and dry.
Just making Wal Mart pay employees more
would undercut the pipeline of playing
low wages in China against low wages in
America, and WMT's sales are approaching
$ 1/2 Trillion annually.
For that matter, a dual minimum wage as
to migrant workers from Mexico should be
welcome by American workers, cause they'd
not be undercut. It should be welcome by
Mexican workers, cause they'd get a wage
reflecting the need for their work.
The "Similar Experience And
Qualification" Test (pdf) Is Not
Something Registered Provisional
Immigrants Can Self-Enforce.
An Across-The-Board Dual Wage
With A Minimal Difference
Between Levels Eliminates
All Avenues Of Abuse To All
Workers.
http://www.aila.org/content/default.aspx?bc=25667%7C44052
The enforcing mechanisms outlined in the
official law are profiling bound, and
could ensare people much as in this way.
http://pages.citebite.com/b2h0r6q6r1bqm
Oh yeah him. Funny, just this morning I was (casually, and away from keyboard) trying to recall what bastid we currently had as secretary of the treasury. Just where has he been hiding?
I was actually going to read the article, but was unable to continue after being overcome with uncontrollable laughter after reading "Lew says". My apologies.