Thursday, November 19, 2009

Geithner rejects lawmaker request he resign

Treasury Secretary Timothy Geithner rejected a request from a Republican lawmaker that he resign for his handling of the economy. In a heated exchange during a hearing of the Joint Economic Committee of Congress, Rep. Kevin Brady, Republican of Texas and the top House Republican on the panel, said Geithner had failed as the Obama administration's point-man on the economy. "Will you step down from your post,?" Brady asked. Geithner replied that he served at the pleasure of President Barack Obama. Geithner said he agreed "with almost nothing" that Brady had said.  Here is a video of the exchange.

If Obama was really a President for the people he would not have appointed this corrupt tax cheat to begin with and if it was an error in judgement he would certainly now fire him after the latest reports showing how Geithner made sure the Bankers got a sweet deal from you the taxpayer would he not?  Check this out even the Liberals are starting to get sick of Obama and his banker backers.  But talk is cheap!  All the Republicans have signed on to Ron Paul's bill the Liberals should put up or shut up.

The markets know we do not have an Independent Fed they are doing Obama's and the bankers bidding and trying to inflate away our debt so Obama can pay back his friends while at the same time destroying your wealth not only through taxes but the destruction of the dollar and it is showing in Gold!

What's up with this maneuvering of gold around the world?

Gold is the enemy of fiat currencies, and it is the watchdog that barks at the first sign of financial malfeasence by governments. If you want your fiat currency to look strong -- i.e., "We favor a strong dollar" -- you can make it look strong by keeping the price of gold low in your currency. Larry Summers wrote a paper, "Gibson's Paradox", that explores this in detail.

You keep the price of gold low by selling your sovereign gold reserves to flood the market with gold. But almost every nation requires that its central bank get legislative permission to sell that gold. To get around this, we had nations swapping their sovereign gold with other nations. Then the swapped gold was leased to the bullion banks -- who also happen to be the great investment banks like Goldman Sachs -- who sold that gold into the marketplace to keep the price artifically low. The bullion banks were told by the central banks, via handshake agreement, that they would never ask the bullion banks to give that gold back. (Had they been required to give that gold back, it would have set off a short squeeze that would have sent gold to unimaginable heights.)

Gold moved around the world in a shell game aimed at propping up fiat currencies that would permit gross abuse of the dollar -- and other currencies -- without having gold sound the alarm. Except the ALARM has now gone off!

November Gold Demand Trends

  We deserve a transparent Fed better yet we deserve to have our own monetary system the interest alone they are charging us is bankrupting us we should END THE FED why pay these crooks to keep us in perpetual slavery?

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