Tag Archive for ‘Geithner’
The unaddressed question remains: Is the U.S. dollar’s status as world reserve currency threatened by the massive debt monetization and multiyear, multitrillion dollar issuance of new Treasuries?
Since America is in its worst economic mess in 70 years and since President Obama’s designated Mr. Fixit is Treasury Secretary Tim Geithner, you’d think the Obama presidency is in desperate shape. The reason? Mr. Fixit is surely the most derided man running the U.S. Treasury since Andrew Mellon cut spending and raised taxes amid the onset of the Great Depression in 1932. Even the bounce on Wall Street after the launch of Geithner’s most recent effort to bail out the banks didn’t stem the chorus of abuse.