The Golden Truth: Watching Geithner In Front Of The House Financial Services Committee

Thursday, October 29, 2009

Watching Geithner In Front Of The House Financial Services Committee

He just made the statement that the U.S. has recently decreased its borrowing from foreigners. I'd like to see his back-up material to justify that statment, because it is either an outright lie or a negligent omission of fact.

Geithner attempts to mask his extreme stupidity with inarticulate arrogance.

11 comments:

KristjanThursday, 29 October, 2009
Liar, liar, pants on fire. The data is all neatly available on the Treasury website: http://www.treas.gov/tic/mfh.txt
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Dave in DenverThursday, 29 October, 2009
I have to say, I was quite stunned when I heard Geithner make that statement in his prepared speech. Very Orwellian, from his handlers of course. I'm convinced Geithner does not have the creative intelligence to draft the bullshit he spewed out today.
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EdwardoThursday, 29 October, 2009
Tim Geithner is pretending not to be the bastard offspring of Ted Bundy and Squeaky Fromme.
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Dave in DenverThursday, 29 October, 2009
LOL - so true
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AnonymousThursday, 29 October, 2009
Geithner made it clear that he and Barney frank will save us.

JohnFromMD
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EconomicDisconnectThursday, 29 October, 2009
Well maybe the government meant they were not borowing from the band "Foreigner" anymore since they broke up?
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Dave in DenverThursday, 29 October, 2009
LOL. If Geithner could borrow his brain from a retard, his I.Q. might go up.

The college game on ESPN is going to be a bagel tonight, so I'm watching to see if Pedro can beat the Yankees.
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EconomicDisconnectThursday, 29 October, 2009
Pedro Martinez, we know him well here in boston! Go Phillies, beat the Yanks!

Also,
Dave,
who do you like in the Broncos at Ravens game, or should I even ask?

I may have a contest up for tomorrow night if interested.
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Dave in DenverThursday, 29 October, 2009
gyc, I can't wait for that game but I seriously do not have any expectations for the Broncos to win. I would expect Denver to win if the game were here, but who knows on the road.

I'll check out your contest for sure.

This UNC/VaTech game is much better than I expected.

Pedro looks great tonight.
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EconomicDisconnectThursday, 29 October, 2009
Dave,
If (big IF) the Ravens can play 4 quarters at home I think they win. If they play 3 quarters, or even 3 and 1 half quarters the Broncos win beacuse they have not beat themselves and their 2nd half performance has been unreal. In Denver, no contest I agree, Broncos big.
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AnonymousTuesday, 03 November, 2009
Great call!
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.