This is the cause of today's selloff: "Geithner promises strong dollar".

[Filthy Keynes]

Geithner vows U.S. will not devalue dollar
http://www.reuters.com/article/idUSTRE69H4VO20101019?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+reuters/topNews+(News+/+US+/+Top+News)

But they already HAVE devalued the dollar... and how do you "create inflation" as per Ben Bernanke WITHOUT devaluing the dollar?

People who sold metals and mining stocks because of something Geithner said (in the face of reality) are idiots. Herd mentality.

[Ares]

Geithner vows U.S. will not devalue dollar
http://www.reuters.com/article/idUSTRE69H4VO20101019?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+reuters/topNews+(News+/+US+/+Top+News)

But they already HAVE devalued the dollar... and how do you "create inflation" as per Ben Bernanke WITHOUT devaluing the dollar?

People who sold metals and mining stocks because of something Geithner said (in the face of reality) are idiots. Herd mentality.


Keep going lower damnit, I want me some more metal. ;D

[sirgonzo420]

Maybe Timmy "Tax Whiz" Geithner meant that a dollar will always be worth 100 cents, so it will keep the same "value" all the way down to the bottom.

[mamboni]

Yeah, we can trust and believe in 'Timmy,' the fvcktard boyscout. What a moron! I suppose he never heard of monetization of Treasuries, something that is happening now and will accelerate. What does it mean when the FED buys bonds with credit created out of thin air, Timmy? Is this a strong dollar policy, you fvcking pissant lying skank? Yeah Timmy, tell Fannie and Freddie about the strong dollar policy when the Treasury has to bail them out to the tune of $6 trillion new monetized dollars! Tell the public pension funds about the strong dollar policy when you bail them out with $5 trillions of new monetized dollars! I can go on, Timmy!
:boom :boom :boom :boom :boom

[Uncle Salty]

Timmy is just fluffing the Chinese with his strong dollar rhetoric.

[Gaillo]

Just a last-ditch effort to keep metals from going to the moon, it will fail in a day or two. I'm heading to town today to BUY!


BTW, Filthy Keynes... your avatar is seriously disturbing! ;D

[1970 silver art]

Don't worry. Timmy will save all of us from dollar devaluation. :sarc: Someone will have to make sure he keeps his promise to NOT devalue the dollar........Oooops!!!! Too late.

[Filthy Keynes]

I'm down more than $6,000 $7,000 today. :(

[General of Darkness]

They're fucked and they know it. They won't be able to stop the inevitable.

[Filthy Keynes]

BTW, Filthy Keynes... your avatar is seriously disturbing! ;D


Focus on my EYES~~~!!! :)

There's one like that of Obama, now THAT one is very seriously disturbing!

[mamboni]

I'm down more than $6,000 today. :(


I'm down over $40,000, today! The more the metals amd miners drop, the more I'll buy dammit! I bought some today. And I'll buy some tommorrow and the next day.

BTW, when did the Treasury secretary have any say so about the value of the dollar? The Treasury issues and buys (ha!) debt, that is all. It does not determine interest rates or dictate fiscal or monetary policy. So Timmy is talking out of his hairy boil-covered arse! :soap

[Filthy Keynes]

I'm down more than $6,000 today. :(


I'm down over $40,000, today! The more the metals amd miners drop, the more I'll buy dammit! I bought some today. And I'll buy some tommorrow and the next day.

BTW, when did the Treasury secretary have any say so about the value of the dollar? The Treasury issues and buys (ha!) debt, that is all. It does not determine interest rates or dictate fiscal or monetary policy. So Timmy is talking out of his hairy boil-covered arse! :soap


Well John Mynard Keynes was gay.... perhaps Timmy and Benjamin have a lil' something goin'-on.... colluding under the sheets. wink-wink.

[mamboni]

One thing's for sure: THEY SUCK!!!!! :redfc :redfc :redfc :redfc

[1970 silver art]

I thought that JPMorgan was stabbed in the dick by the DOG and left for dead but it appears that I was wrong on that. :D

The DOG almost got away with "murder" and was going to da moon but JPMorgan's "buddies" caught it and brought it back down to earth. Bummer........ :'(

[1970 silver art]

YIKES!!!!!!!!! Silver down $1. It will recover because I said so. ;D Believe it.

[Gaillo]

YIKES!!!!!!!!! Silver down $1. It will recover because I said so. ;D Believe it.


It will recover because the dollar is now being printed on rolls... just like another kind of paper that ends up smelling bad and getting flushed! ;D

[Twisted Titan]

Didnt Paulson say he was commmitted to a " Strong Dollar Policy"?


T

[1970 silver art]

YIKES!!!!!!!!! Silver down $1. It will recover because I said so. ;D Believe it.


It will recover because the dollar is now being printed on rolls... just like another kind of paper that ends up smelling bad and getting flushed! ;D


Hmmmm.........Ponce may want to go ahead and start stocking up on some of that US Dollar "tp". ;D

[osoab]

Well John Mynard Keynes was gay.... perhaps Timmy and Benjamin have a lil' something goin'-on.... colluding under the sheets. wink-wink.


Well, one could say he might fit in well with Rahm and Obummer.

[Ponce]

"Money turning into tp, tp turning into money"... Agnut

I think that I'll go back to the big town and get mysef a few more cases of "real" money.

[Gaillo]

"Money turning into tp, tp turning into money"... Agnut

I think that I'll go back to the big town and get mysef a few more cases of "real" money.


Be sure to register "toiletpaperismoney.com" while you're at it! ;D


Hmmm.... "TIM" - now we KNOW why they picked that guy! :o

[oldmansmith]

I think it has a lot more to do with China raising interest rates.

But anyway, gold is all the way "down" to $1,331 and the dog silver has "crashed" to $23.35.

The last silver I bought was for $13/oz but silver's strength is making me a believer. Might have to buy more if'n this dip continues.

[Gaillo]

...The last silver I bought was for $13/oz but silver's strength is making me a believer. Might have to buy more if'n this dip continues.

[Ponce]

Old Man? it all depends as to how much you need to feel "secured"......I know that I am........there is need and then there is greed..........and that's why so many are now in trouble........live according to your money at hand and not for the money that you have coming.

[mamboni]

Old Man? it all depends as to how much you need to feel "secured"......I know that I am........there is need and then there is greed..........and that's why so many are now in trouble........live according to your money at hand and not for the money that you have coming.


That's easy for you to say Ponce. Not everyone counts their physical silver by the ton. :plll

[oldmansmith]

Agree Ponce. I'm not rich but have no mortgage, grow a lot of my own food (fall broccoli is in!), heat with mostly free firewood, drive a car with 230K miles on it that I paid $2,500 for six years ago... and Mrs. Old has a steady job with benefits. Life is great...I don't care to be rich at all, my needs are simple. I just don't want to be poor; that's why I buy PM's.

[madfranks]

It will recover because the dollar is now being printed on rolls... just like another kind of paper that ends up smelling bad and getting flushed! ;D


When you can smell the shit from a mile away, the only thing strong about the dollar is the odor!

[ShortJohnSilver]

Timmy clicking the wrong buttons on his TurboTreasury software again ...

[1970 silver art]

If Geithner is promising a "strong dollar", then I have some Tennessee beachfront property that I want to sell you. :D

[Trinity]

I think it has a lot more to do with China raising interest rates.

But anyway, gold is all the way "down" to $1,331 and the dog silver has "crashed" to $23.35.

The last silver I bought was for $13/oz but silver's strength is making me a believer. Might have to buy more if'n this dip continues.


Yes that is the reason. China is trying to cool it's economy a little. This is actually long term bullish for commodities because it shows the demand from the people in China is so strong. As opposed to America where we have to keep rates at zero to coax demand from the people. Not to worry because this little 1/4 percent increase will not slow their economy.

[Ragnarok]

"Strong Dollar" simply means washable, reuseable, 'environmentally "green" as well as in reality' TP.

R.

[Silver Shield]

Here is the whole interview process for the Treasury Secretary of the United States.

Interviewer:
"Can you say STRONG DOLLAR?"

Interviewee:
"Strong dollar."

Interviewer:
"Your HIRED!!!"

[Book]

Yeah, we can trust and believe in 'Timmy'...



http://www.davidstuff.com/polpics/Paulson-Bernanke-Geithner.jpg

Maybe this photo illustrates why their FRNs say "In God We Trust".

:D

[ShortJohnSilver]

I'm down more than $6,000 today. :(


I'm down over $40,000, today! The more the metals amd miners drop, the more I'll buy dammit! I bought some today. And I'll buy some tommorrow and the next day.



WHY are you denominating what you own in fiat $ ?

Thought that was a rookie's mistake... not something done by Kung Fu Master Mamboni, a Silver Belt in Hoo Far Tet?

[mamboni]

I'm down more than $6,000 today. :(


I'm down over $40,000, today! The more the metals amd miners drop, the more I'll buy dammit! I bought some today. And I'll buy some tommorrow and the next day.



WHY are you denominating what you own in fiat $ ?

Thought that was a rookie's mistake... not something done by Kung Fu Master Mamboni, a Silver Belt in Hoo Far Tet?


Indeed! I was thinking the same thing. I value my portfolio by how many ounces of gold and silver it contains, and how many PM mining shares it holds. Today was a welcome buying opportuniyt. Nevertheless, it is disconcerting to see the dollar amount of the portfoli drop. Mixed emotions! Yes, lowe gold and silver means more can be had with fewer dollars. Yet my present holdings of gold and silver drop as well. But you are right: I must discount the dollars entirely as meaningless script!

[Filthy Keynes]

I'm getting the Tuesday evening jitters. Silver up a few cents @ 23.50

[steyr_m]

They're f*cked and they know it. They won't be able to stop the inevitable.


I dunno, deep down inside I feel they knew this would happen. They have a plan to use this against us. The only way out is for people to get fed-up, pick up their rifles and start to revolt.

[JDRock]

geithner "PROMISES" :ROFL: thats all i needed to hear folks. :oo-->

[sirgonzo420]

geithner "PROMISES" :ROFL: thats all i needed to hear folks. :oo-->


kol nidre

lol

[ShortJohnSilver]

How to strengthen the dollar temporarily - declare a dollar amnesty for all those corporations that are holding USD overseas, like W did, allowing USD to be repatriated at a low tax rate like 5% - 900B will be coming over in the 6 months after they do that.

[Filthy Keynes]

The situation implies the need to make such a statement by Geithner. Obviously the wheels must be falling off. Everyone who sold today was a sucker who fell for the ruse.


I wonder how long the ruse will be and how much booze the rooze has.