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Geithner vows U.S. will not devalue dollar

Posted By admin On October 19, 2010 @ 3:23 am In World News | Comments Disabled

Jim Christie and David Lawder
Reuters
Oct 19, 2010

Treasury Secretary Timothy Geithner vowed on Monday that the United States would not devalue the dollar for export advantage, saying no country could weaken its currency to gain economic health.

“It is not going to happen in this country.” Geithner told Silicon Valley business leaders of devaluing the dollar.

Geithner broke his silence on the dollar’s protracted slide ahead of this weekend’s meeting of finance leaders from the Group of 20 wealthy and emerging nations in South Korea, where rising tensions over Chinese and U.S. currency valuations are expected to take center stage.

“It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive,” Geithner added. “It is not a viable, feasible strategy and we will not engage in it.”

Full article here [1]

Having A Supply Of Healthy Foods That Last Just Makes Sense (AD) [2]

Geithner vows U.S. will not devalue dollar 150410banner1 [3]


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URLs in this post:

[1] Full article here: http://www.reuters.com/article/idUSTRE69H4VO20101019?pageNumber=1

[2] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[3] Image: http://infowars-shop.stores.yahoo.net/inemnewwoord.html

[4] Geithner tells China its dollar assets are safe: http://www.prisonplanet.com/geithner-tells-china-its-dollar-assets-are-safe.html

[5] Geithner sees dollar’s reign lasting ‘long time’: http://www.prisonplanet.com/geithner-sees-dollars-reign-lasting-long-time.html

[6] Geithner Vows to Cut U.S. Deficit on Rating Concern: http://www.prisonplanet.com/geithner-vows-to-cut-us-deficit-on-rating-concern.html

[7] The Federal Reserve’s Explicit Goal: Devalue The Dollar 33%: http://www.prisonplanet.com/the-federal-reserve%e2%80%99s-explicit-goal-devalue-the-dollar-33.html

[8] Major nations should back dollar as key currency: Japan: http://www.prisonplanet.com/major-nations-should-back-dollar-as-key-currency-japan.html

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