GEITHNER SPEAKS

[riseandshine]

Not sure if this has been posted. He was actually in Tokyo, not that it matters.

Geithner urges more currency flexibility

U.S. Treasury Secretary Timothy Geithner (L) speaks next to Japan's Finance Minister Jun Azumi during their joint news conference at the Finance Ministry in Tokyo January 12, 2012. REUTERS/Toru Hanai

Thu Jan 12, 2012 11:38am EST

(Reuters) - Treasury Secretary Timothy Geithner said on Thursday that key emerging-market nations must let their currencies rise in value in order permit more stable global growth.

In an interview in Tokyo with Japanese broadcaster NHK, Geithner appeared to refer to China when he spoke about the role of emerging market countries in creating a more stable monetary system.

"You want to see those currencies continue to reflect the substantial upward pressure you're seeing in fundamental economic forces that are going to push them gradually to appreciate and strengthen against the dollar, the yen and the euro," he said.

"It's going to have to continue on a sustained basis."

Geithner was wrapping up a quick visit to Beijing and Tokyo that was principally aimed at soliciting cooperation in tightening sanctions against Iran to curb its disputed nuclear program.

Geithner was asked whether the International Monetary Fund should play a larger role in helping the Euro zone countries deal with their debt crisis. He said the IMF was already helping and Europe needs to get a grip on its own problems.

"We have a very good record of moving very, very quickly to make it possible for the IMF to do what it needs to do to help its member states but we have to make sure that Europe moves first and gives the world something that the world can support," Geithner said.

(Reporting By Glenn Somerville; Editing by Andrew Hay)

My link

Edited January 13, 2012 by riseandshine

[Tirebiter]

Thanks for the post riseandshine! I would like to feel this might be encouraging but since I have no respect for Geithner and no trust in him or the current USA adminisration, I can't quite decide what to think of this. On one hand, I would like to think that it's encouraging for our investment. On the other hand, considering the source of the statement, I feel it may be not so encouraging if it hinges even remotely on the influence of the Obama admin. Hopefully they won't mess us up in our investment. jmo

[kennyc]

in NEWS (Iraq & World Currency)

Bulldog75: Jan 12, 2012 11:38 EST (Reuters) – Treasury Secretary Timothy Geithner said on Thursday that key emerging-market nations must let their currencies rise in value in order permit more stable global growth. In an interview in Tokyo with Japanese broadcaster NHK, Geithner appeared to refer to China when he spoke about the role of emerging market countries in creating a more stable monetary system.

“You want to see those currencies continue to reflect the substantial upward pressure you’re seeing in fundamental economic forces that are going to push them gradually to appreciate and strengthen against the dollar, the yen and the euro,” he said.

“It’s going to have to continue on a sustained basis.”

Geithner was wrapping up a quick visit to Beijing and Tokyo that was principally aimed at soliciting cooperation in tightening sanctions against Iran to curb its disputed nuclear program.

Geithner was asked whether the International Monetary Fund should play a larger role in helping the Euro zone countries deal with their debt crisis. He said the IMF was already helping and Europe needs to get a grip on its own problems.

“We have a very good record of moving very, very quickly to make it possible for the IMF to do what it needs to do to help its member states but we have to make sure that Europe moves first and gives the world something that the world can support,” Geithner said.

(Reporting By Glenn Somerville; Editing by Andrew Hay)

Source: Reuters US Online Report Business News

[srdedeaux]

Kennyc, Good Post....................! Now let's RV........................................ B)

[kennyc]

sorry folks , just saw this is already posted. My bad.

Mods feel free to remove. thanks

[TrinityeXchange]

same exact speech Hillarious clinton gave a few months back.