Is Something Serious Up at Treasury?

[osoab]

Is Something Serious Up at Treasury? (http://www.economicpolicyjournal.com/2011/01/is-something-serious-up-at-treasury.html)

Saturday, January 29, 2011
On Sunday, Treasury Secretary Geithner will have dinner at Treasury with former secretaries of the Treasury.

What's up with this? There was no indication on the weekly Treasury schedule, put out just a day ago, that this dinner was planned. Very unusual.

On top of that, the Treasury put this notice out at 9:00PM on a Saturday night. Sure looks like a rushed meeting to me.

I have seen this posted a few places.
This is one of the better reasons I have seen.

The "exorbitant privilege" of the US (http://www.bbc.co.uk/blogs/thereporters/stephanieflanders/2011/01/the_exorbitant_privilege_of_th.html)


Davos: What's going to happen first - sensible US fiscal policy, or a global revolt against the dollar? In all my discussions about the global economy so far here in Davos, that's the question we keep coming back to.


But you have to wonder - and everyone I speak to in Davos is wondering - how long America's "exorbitant privilege" is going to last.


So what is Timmay and the boyz up to today?

edit to fix to url

[Ares]

Probably going to discuss how to keep the market propped up. Pre-market data has the dow down -170 points.

http://www.cnbc.com/id/17689937/

[osoab]

Probably going to discuss how to keep the market propped up. Pre-market data has the dow down -170 points.

http://www.cnbc.com/id/17689937/


10 minutes before the metals open. :imskerd:

[Libertarian_Guard]

Osoab

The comment section was interesting.

Here is my favorite.....

The numbers concerning the US defecit/debt are truly staggering - almost incomprehensible. The fact that the USD is doomed is surely in no doubt. Although I agree with others that it will take longer than you might think for it's demise to play out.

Going forward what is needed is a universal unit of currency/exchange/debt - call it what you will! I have a suggestion:

Global
Ordinary
Liquidity
Device

or GOLD for short.......

[osoab]

http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html

Oil (WTI=light sweet crude) up 70 cents to open.

[osoab]

Osoab

The comment section was interesting.

Here is my favorite.....

The numbers concerning the US defecit/debt are truly staggering - almost incomprehensible. The fact that the USD is doomed is surely in no doubt. Although I agree with others that it will take longer than you might think for it's demise to play out.

Going forward what is needed is a universal unit of currency/exchange/debt - call it what you will! I have a suggestion:

Global
Ordinary
Liquidity
Device

or GOLD for short.......




Went through a few. Not too many seemed keen to the idea of a gold standard.

Here is another one.


72. At 8:11pm on 27 Jan 2011, TonyH wrote:

71. At 7:55pm on 27 Jan 2011, Charles Jurcich:

For me, the issue is simple:-

Given the events of the past 3 years and the measures now being adopted:-

Would you rather hold fiat currency - or the same value in gold?

I think that question is about to be answered.

[Horn]

Osoab

The comment section was interesting.

Here is my favorite.....

The numbers concerning the US defecit/debt are truly staggering - almost incomprehensible. The fact that the USD is doomed is surely in no doubt. Although I agree with others that it will take longer than you might think for it's demise to play out.

Going forward what is needed is a universal unit of currency/exchange/debt - call it what you will! I have a suggestion:

Global
Ordinary
Liquidity
Device

or GOLD for short.......




Talk about poof overnight... with Wall Street in flames there would be nowhere to offload those dollars.

[DuaneLuk]

bump

[osoab]

Looks like the meeting went well. :D

Metals down off of the open and oil has backed off too. Haven't looked at the futures.

[osoab]

The meeting must have gone very well.

Futures in the green or flat. Metals spanked and oil is muted. Yippee!