(2009-03-27) — Just a day after signaling his openness to consider a Chinese proposal to replace the U.S. dollar with a new global currency, Treasury Secretary Timothy Geithner suggested that the new “super-sovereign reserve currency” could be U.S. T-bills, the short-term bonds that the U.S. sells to fund its debt.
“China should love this proposal,” Mr. Geithner said, “since they already own mountains of T-bills, and each one is backed by President Obama’s recent remarks that investors can have absolute confidence in them. That makes them as stable as any other paper we produce.”
The treasury chief noted that T-bills are better than dollars because if the U.S. prints more money, it devalues the currency.
“However, there’s actually something behind a T-bill,” he said, “and as we print more, we get even more behind.”
In related news, the New York Stock Exchange rallied briefly today on word of a spike in orders for red ink and “downward sloping arrows” by U.S. financial firms during Mr. Geithner’s remarks.
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32 responses so far ↓
1 RedPepper // Mar 26, 2009 at 5:55 pm
This could be an ideal moment to return to a more traditional form of money; well-known in these parts, and one that has, in many various forms, been extensively used all over the world.
I refer, of course, to wampum.
You could think of it as “the old shell game.”
What could be more appropriate for these times?
2 Ms RightWing, Ink // Mar 26, 2009 at 6:03 pm
I prefer baseball cards as currency. There are plenty of them and you get bubble gum also
3 R.A.M. // Mar 26, 2009 at 6:10 pm
Dang! I was gonna grow me a Michelle Obama garden and pay people with “lettuces” and “mints”!
4 onlineanalyst // Mar 26, 2009 at 6:30 pm
In the spirit of Ackbar’s confidence in these new financing instruments, I suggest that we call the 0 bills. They will be worth about zero. (That’s even less than the change we can believe in.)
Two tea parties on my schedule. Yay! The disgust over fiscal irresponsibility is growing palpably.
5 onlineanalyst // Mar 26, 2009 at 6:30 pm
call them O bills
6 woodnwheel // Mar 26, 2009 at 6:41 pm
Just got Internet access back after nine days without. One of the first things I saw when I opened my browser was a story about Geithner’s remarks on the Chinese proposal. I think anyone familiar with Bible prophecy — particularly regarding the End Times — is spending a little extra time today saying “Maranatha” — Come quickly, Lord!
7 R.A.M. // Mar 26, 2009 at 6:56 pm
Makes me want to throw a “T”-Party!
8 R.A.M. // Mar 26, 2009 at 7:00 pm
Sorry OLA! I think I must have read your post, then like a “former New York Times fired journalist”, thought it was my original idea.
9 R.A.M. // Mar 26, 2009 at 7:04 pm
The “black robed thugs” just keep re-molding that thing that used to be our Constitution! It is almost unrecognizable!
Did you see this: http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=79086
10 onlineanalyst // Mar 26, 2009 at 7:25 pm
“Just for Laughs”…because truth is funnier than fiction.
11 R.A.M. // Mar 26, 2009 at 7:34 pm
OLA: Was the story, (referenced in that link), at the house of Phil Donahue?
12 camojack // Mar 26, 2009 at 8:03 pm
New World Order™…here we come.
13 onlineanalyst // Mar 26, 2009 at 8:31 pm
As long as George Soros is happy: “I’m having a very good crisis.”
And the soon-to-go-to-conference “GIVE Act” will fly in the face of the 13th Amendment against involuntary servitude when huge sums of tax dollars will underwrite the oxymoronic mandatory volunteerism by our youth. (What dictators does this power grab remind you of? We have a clue about what Ackbar envisions himself to be, but have the majority in Congress lost their minds? Do they read these bills that they pass before they head off to their Georgetown cocktail parties?)
14 onlineanalyst // Mar 26, 2009 at 9:14 pm
<a href= “.”Oh, Rahm, you naughty lad, you give new meaning to the word hypocrisy.
15 onlineanalyst // Mar 26, 2009 at 9:17 pm
Let’s try that again.
<a href= “.”Oh, Rahm, you naughty lad, you give visible meaning to the word hypocrisy.
Most ethical administration evah!
16 onlineanalyst // Mar 26, 2009 at 9:21 pm
I’m giving an object lesson in clumsly linking, so I will just put the link in directly: http://hotair.com/archives/2009/03/26/when-will-rahm-emanuel-give-back-the-money/
17 Laughing@You // Mar 26, 2009 at 10:02 pm
“Dang! I was gonna grow me a Michelle Obama garden and pay people with “lettuces” and “mints”!”
Unrelenting ignorance always on parade!
The First Lady planted two varieties of both lettuce and mint!
“The “black robed thugs” just keep re-molding that thing that used to be our Constitution!”
You do know the Constitution is written on paper, not clay tablets, don’t you?
Everthink?
18 Laughing@You // Mar 26, 2009 at 10:06 pm
Yeah, yeah, I knows it’s parchment! I just didn’t want to give him too much in one lesson.
Everthink?
19 Geithner Suggests New Global Currency: T-Bills | CurrencyPile.Com // Mar 27, 2009 at 12:14 am
[...] Read the rest here: Geithner Suggests New Global Currency: T-Bills [...]
20 gafisher // Mar 27, 2009 at 6:40 am
“You do know the Constitution is written on paper …”
With disappearing ink?
21 gafisher // Mar 27, 2009 at 6:47 am
“President Obama’s recent remarks that investors can have absolute confidence …”
There’s just nothing quite like confidence, man.
22 boberinyetagain // Mar 27, 2009 at 7:40 am
What the Chinese want the Chinese will get…believe it.
23 boberinyetagain // Mar 27, 2009 at 7:53 am
After all we long ago sold them our country
24 Pseudo-Polymath » Blog Archive » Friday Highlights // Mar 27, 2009 at 8:20 am
[...] LOL. [...]
25 Stones Cry Out - If they keep silent… » Things Heard: e60v5 // Mar 27, 2009 at 8:21 am
[...] LOL. [...]
26 Laughing@You // Mar 27, 2009 at 11:00 am
“With disappearing ink?”
Oh’ you must be talking about the Gonzo Amendments, and the Dumbyah Signing Statements!
It is true, they are “disappearing”. Democrats prefer the original, the one the Bush betrayed with his changes.
I know many of you are more confused today than you were when the presididiot made the switch.
That is an affect called “disillusionment”. Most often it clears up with time, or sometimes with the appearance of a blinding light while traveling.
However, as seen in some extreme forms of Islam, it can become a problem requiring the wearing of an orange suit.
gafisher, what is you size? Standard for conservatives is 34-short jacket and 56 trousers.
They come with Republicans of valor, and intellect embroidered on the back of the jacket. But of course, the only picture now available is Chuck Hagel.
Everthink?
27 upnorthlurkin // Mar 27, 2009 at 11:52 am
So far, rumors of our demise are greatly exaggerated….we’re still here, we’re still dry and we’re still fighting the good fight!
28 R.A.M. // Mar 27, 2009 at 1:35 pm
Laughing@You // Mar 26, 2009 at 10:02 pm
“Dang! I was gonna grow me a Michelle Obama garden and pay people with “lettuces” and “mints”!”
Unrelenting ignorance always on parade!
The First Lady planted two varieties of both lettuce and mint!
She was ignorant to make that mistake. My bet is, once she was told of her error, she owned up to it, but I could be wrong given she acts like she thinks she is better than “ordinary citizens”.
YOU, (on the other hand), are quite simply a stubborn moron, in that, if there were 5,000 “LETTUCE, or 5,000 MINT plants” neither would have an “s” on them.
Lettuce and Mint are singular OR plural.
So much for your thinking you know more than ANYBODY here, you foolish popinjay!
And YOU think you are laughing at us?
http://www.msnbc.msn.com/id/21134540/vp … 6#29812126
Listen to her say it again at the above link. She sounds as dumb as the trolls defending her!
BTW troll, Rush Limbaugh’s poll numbers and listeners are THROUGH the ROOF, http://chat.anncoulter.com/phpBB3/viewtopic.php?f=31&t=81489 , since your boy attacked him. So much for who is more popular now. Pretty funny, a radio talk show host, is better liked that a “Usurping Prez” in office less than 2 months!
29 gafisher // Mar 27, 2009 at 1:54 pm
Don’t let the L@chkey Kid bug you, R.A.M. All h@, no c@tle(s).
30 Laughing@You // Mar 27, 2009 at 2:29 pm
Please Note!
lettuces
One entry found.
Main Entry:
let•tuce
Pronunciation:
\?le-t?s\
Function:
noun
Etymology:
Middle English letuse, from Anglo-French letuse, probably from plural of letue lettuce plant, from Latin lactuca, from lact-, lac milk; from its milky juice — more at galaxy
Date:
14th century
: any of a genus (Lactuca) of composite plants ; especially : a common garden vegetable (L. sativa) whose succulent leaves are used especially in salads
http://www.merriam-webster.com/dictionary/lettuces
mints
3 entries found.
1. 1mint (noun)
2. 2mint (noun)
3. 3mint (transitive verb)
Main Entry:
1mint
Pronunciation:
\?mint\
Function:
noun
Etymology:
Middle English minte, from Old English, from Latin mentha, menta; akin to Greek minth? mint
Date: before 12th century
1: any of a family (Labiatae, the mint family) of aromatic plants with a square stem and a 4-lobed ovary which produces four one-seeded nutlets in fruit ; especially : any of a genus (Mentha) of mints that have white, purple, or pink verticillate flowers with a nearly regular corolla and four equal stamens and that include some used in flavoring and cookery2: a confection flavored with mint
— minty \?min-t?\ adjective
http://www.merriam-webster.com/dictionary/mints
RAM,
There are many kinds of dumb on display here, but, for my money, you take the prize!
About the time I start to think maybe I am being too hard on you, you bust through the doors, arrogantly stride right up to the front of the room, shove all the other dumbbells aside, and snatch up another trophy right off the table!
I’m going to see if I can get an “Ignorant Bar” made to add to your “Expert Badge”.
Congratulations!
Everthink?
31 R.A.M. // Mar 28, 2009 at 10:38 am
et:
Nice try at the “sideshow” to cover the “First Dunce’s” imbecellic error, but if ANYONE listens to the “supposed articulate” First Dunce, only a Kool-AID swilling, Obama-bot, would NOT know she made a ignorant mistake.
AND, only a “Kool-Aid” swilling Obama-bot swooning fool, would attempt to cover her OBVIOUS mistake!
Try this link since MSNBC has taken down their video of the “First Dunce”:
http://news.yahoo.com/s/ap/20090320/ap_on_go_pr_wh/white_house_garden
She makes her ignorant error at 1:37 of the raw video.
Now go back to your dictionary and look up what YOU are, you popinjay!
Popinjay want a cracker?
32 ScrappleFace » Blog Archive » Geithner Suggests New Global … | CurrencyPile.Com // Mar 29, 2009 at 2:55 pm
[...] Here is the original post: ScrappleFace » Blog Archive » Geithner Suggests New Global … [...]
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