Geithner: China Doesn’t Play with Funny Money
Posted in Public Affairs, Money Matters, wordpress, Politics, News Media, disclosure, ethics, United States, China, obama, Opinion, Foreign Affairs on April 21st, 2009 by Stanford MatthewsWhy this story did not get much play is a bit of a mystery. China wants to be king. But so do many countries. Amid criticism over the last few years China has exported tainted goods, conspired with major IT companies to limit their citizens access to the internet, been accused of cyber-espionage and other bad behavior. While Olympic athletes choked on their smog dominated air the US continued to play nice as China joined in the greed that put the world finances in the tank as well as sponsoring out of control US debt. But even then the US was chastising them for manipulating their currency. Gee Timothy, what changed?
According to one website that offers exchange rate data, nothing. Even the US gov’t data on China’s currency valuation does not appear to reflect Geithner’s rosy report of 16% appreciation. Why do you suppose Turbo Tax & cheat wonder boy Geithner gave such a positive spin on China’s currency?
Stanford Matthews
MoreWhat.com
US Treasury Says China Not Manipulating Currency |
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15 April 2009 |
U.S. Treasury Secretary Timothy Geithner has declined to name China as a currency manipulator - a position that is in contrast to the government’s stance in January.
In the Treasury Department’s semi-annual report on the currency practices of key trade partners, Mr. Geithner says there is no evidence that any major U.S. trading partner had manipulated its exchange rate. The findings are in a report submitted to Congress Wednesday.
During his January confirmation hearing, Mr. Geithner said that President Barack Obama believed China was “manipulating” the value of its currency to gain unfair trade advantages.
However, in the new report, he says China has taken steps to “enhance exchange rate flexibility.” He also says the Chinese currency “appreciated” by more than 16 percent between June 2008 and February 2009.
U.S. politicians, labor leaders and manufacturers have long complained that China intervenes in foreign exchange markets to keep the value of its currency artificially low. The move would give Chinese products a price advantage on world markets.
In the new report, Mr. Geithner also says “virtually every advancing economy and many emerging markets are in recession.”
He also says many currencies depreciated against the dollar in the second half of 2008 and into 2009.

What an absolute joke this is. President Obama is credited by the MSM as stating ‘like families’ the government will have to make ‘hard choices.’ They go on to headline the leader of the free world wants suggestions to cut spending and waste. This from a man who approves of the biggest budget, spending and debt producing agenda since President George Bush which makes Obama’s plans off the charts in our nation’s history.
If you are worried about the government running healthcare and making many of your health related decisions for you as well as putting your health information in a government database for all to hack there may now be more reason to feel that way. Aneesh Chopra is Obama’s pick for something called the Chief Technology Officer and Jeffrey Zients as something called the Chief Performance Officer. That Silicon Valley is applauding the choice should be of concern to the average citizen for they do not have your best interests at heart but ’special’ interest….their’s. Chopra is or was hot on the path of porkulus money to expand broadband access in Virginia. That’s right. Get the taxpayer to pay for private sector infrastructure. No wonder Silicon Valley is applauding.. And the same goes for Jeffrey Zients. Connected to Wall Street and the healthcare industry. Ya, these are the guys you want meddling in technology and healthcare on behalf of the American public.
This blog has recently started pointing readers to columns by George F Will. This blog’s author is of the opinion that Mr Will is on point, quite capable and correct to such a degree that all would benefit by paying attention. This is not idol worship or casual linking for some blogging benefit. It would not be expected for all to agree with George Will or anyone else who is widely published in columns or op-ed features. And some responses to one of Mr Will’s recent columns is no exception.
Anyone who does not support the notion that appearance matters is living in a dream world. Having an unfavorable opinion on the significance of personal appearance does not form the basis of an argument to the contrary. An expanded discussion on the topic could start with what one wears to a job interview. Even for jobs in the blue collar sector of employment where jeans for example are likely part of the common attire at work few are adorned with it when attending an interview. This may cause those who are old enough to recall a time when formal, semi-formal or casual dress applied routinely. With the advent of casual Fridays a departure from longstanding rules about appearance were distinctively and demonstrably introduced. That was not necessarily a good thing.
You can argue all day but the simple fact is telecom services whether voice, data or anything else mysteriously have similar pricing and it is all too much. The single largest problem causing that is the reluctance of consumers to object to excessive pricing. In this latest story on the topic the public has not been impressed. That is largely an exception to typical consumer behavior which acquiesces to vendor pricing.
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First the caveats to this post. In this story title use of the word ‘immigrants’ can be defined as its most traditional use. Someone who comes to a country from another through a legal process. According to the report the immigrants described are ‘required to have at least two years of legal US residency.’ That of course is a good thing provided the determination of legal residency is accurate.

With Congress not in session there has been less reason or urgency to monitor House and Senate websites. A casual pass by several of the usual suspects is responsible for the following small tidbit. Most of the quotes and the post itself are from March of this year. But it is still relevant. Read it with the caveat that members of political parties do not promote bipartisanship from a position of strength. The news media and blogs are filled with stories about the GOP fall from grace in abandoning longstanding conservative principles even if the effort was never unanimous. And to a lesser degree the question is always present on how long it will take the Democratic party majority to snatch defeat from the jaws of victory.
Even after a few days homosexuals may still be offended by a story about Amazon dot com. Depending on who you read or believe the only thing that seems clear is certain books were removed from Amazon’s ranking and/or sales feature and thus more or less fell off the map so to speak. Some (ABC) call the published works ‘gay titles’ and others (CNET) call them ‘adult’ books. And Amazon apologized for what they viewed as their own careless or bungling management of the book listings. Add to that a hacker who is taking credit for the episode.