Chinese Laugh In Begging American Treasury Secretary's Face
From BBC
"Mr Geithner is on his first official visit to China, the biggest foreign investor in US treasury bonds.
Ahead of meetings with President Hu Jintao and Premier Wen Jiabao, he said the US and China must work together to fix the global economic system.
Mr Geithner said the US would move swiftly to get its debt under control.
In a speech at Beijing University at the start of his two-day visit, Mr Geithner reassured his Chinese hosts that they need not worry about the estimated $770bn (£475bn) they have invested in US treasuries, a class of US government debt.
"Chinese financial assets are very safe," he said, drawing laughter from the audience."
"Mr Geithner is on his first official visit to China, the biggest foreign investor in US treasury bonds.
Ahead of meetings with President Hu Jintao and Premier Wen Jiabao, he said the US and China must work together to fix the global economic system.
Mr Geithner said the US would move swiftly to get its debt under control.
In a speech at Beijing University at the start of his two-day visit, Mr Geithner reassured his Chinese hosts that they need not worry about the estimated $770bn (£475bn) they have invested in US treasuries, a class of US government debt.
"Chinese financial assets are very safe," he said, drawing laughter from the audience."
posted by nolocontendere at 7:10 PM
1 Comments:
I have been looking at USD futures again after a long break of relative inactivity-not so much that as the buck went up for awhile-now it is going way down again but still not near the levels it hit some months ago-i think the last future i saw was 79.10 and it has been as low as around 70 -although the big question is will it go back up this time-it is worthless and the fact that folks think it is worth anything makes me want to laugh-is part of it because of the way the whole global financial system is run with the buck being the reserve currency?? or is it because we have a loaded gun pointed at the rest of the world?? best as always!!
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