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Geithner impersonates Nicholson – America, you can’t handle the truth

Tim Geithner has issued a Code Red on the U.S. dollar, but he doesn’t think Americans can handle it.

I believe deeply that it’s very important to the United States, to the economic health of the United States, that we maintain a strong dollar.

Secretary, I have just one more question. If you gave an order that the dollar wasn’t to be touched and your orders are always followed, then why would the dollar be in danger?

I want the truth!

You can’t handle the truth!

I have a greater responsibility than you can possibly fathom. You weep for the dollar, you curse the U.S. Government. You have that luxury. You have the luxury of not knowing what I know – that the dollar’s death, while tragic, probably saved lives. And, my existence, while grotesque and incomprehensible to you, saves lives.

I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom that I provide and then questions the manner in which I provide it.

Did you order the Code Red?

You’re goddamn right I did.

Source

Geithner Says Strong Dollar ‘Very Important’ to U.S. – Bloomberg

Happy Veterans’ Day (especially to my dad, uncles and aunt and all of those no longer with us)

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

7 Comments

  1. Anonymous says:

    Geithner says a strong dollar is important and Barney Frank says he doesn’t know what pot growing in the back of his boyfriends house looks like http://www.youtube.com/watch?v=OeCf2snkBE0

    COME ON! THEIR ALL IDIOTS WHO ARE SO STUPID THAT THEY SHOULD BE WEARING A HELMET AND A MOUTH PIECE BECAUSE WHEN THEY TALK THEY LIE

  2. OregonGuy says:

    Ed,

    Geithner is lying because the majority of Americans and all foreigners favor a strong dollar. I believe it is in our best interest to weaken the dollar and reduce the current account deficit, but amongst people I know I am one of the few who feel this way. It seems to be a matter of national pride rather than economic calculation to favor a “strong” dollar. Or maybe it is the allure of the cheap flat-screen TV.

    American consumers could buy fewer foreign-produced goods and more domestically-produced goods, but we aren’t self-interested enough to do that.

    Now the trick is to convince the Chinese to allow the yuan to appreciate.