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Geithner sees dollar’s reign lasting ‘long time’

Posted By admin On October 28, 2009 @ 4:22 am In Money Watch | Comments Disabled

AFP [1]
Wednesday, Oct 28th, 2009

US Treasury Secretary Timothy Geithner said Tuesday the dollar would keep its status as the world’s main reserve currency a “long time.”

Geithner, speaking to an investors conference in New York a day after the dollar hit a 14-month low against the euro, said: “The dollar will remain the principal reserve currency for a long time.”

The dollar has nosedived in recent months as investors turn away from the greenback, considered a safe haven amid economic uncertainty, amid a burgeoning recovery from a severe global slump.

The dollar’s status as the primary reserve currency has come under fire as it weakens, particularly from China, whose foreign exchange reserves surged to a global record of 2.27 trillion dollars at the end of September.

Full article here [1]

Geithner sees dollars reign lasting long time  FOTR 340x169 PP [2] 


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URLs in this post:

[1] AFP: http://rawstory.com/news/afp/Geithner_sees_dollar_s_reign_lastin_10272009.html

[2] Image: http://prisonplanet.tv/signup.html

[3] Geithner Sees “Economic Improvement” As Mortgage Delinquencies Hit All Time High: http://www.prisonplanet.com/geithner-sees-economic-improvement-as-mortgage-delinquencies-hit-all-time-high.html

[4] Nobel Laureate Dr. Joseph Stiglitz Says “The Geithner Plan Amounts To Robbery Of The American People”: http://www.prisonplanet.com/nobel-laureate-dr-joseph-stiglitz-says-the-geithner-plan-amounts-to-robbery-of-the-american-people.html

[5] U.S. Says Geithner to Discuss Europe, Economy in China Talks: http://www.prisonplanet.com/u-s-says-geithner-to-discuss-europe-economy-in-china-talks.html

[6] Geithner urges unity in euro zone crisis: http://www.prisonplanet.com/geithner-urges-unity-in-euro-zone-crisis.html

[7] Geithner: Bailouts cost less than 1 percent of US gross domestic product: http://www.prisonplanet.com/geithner-bailouts-cost-less-than-1-percent-of-us-gross-domestic-product.html

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