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Reuters: Chinese Students Laugh at Geithner

"Chinese assets are very safe," Geithner said. His answer drew loud laughter from his student audience at Peking University ...
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UPDATE 3: Geithner tells China its dollar assets are safe
Reuters | Mon Jun 1, 2009 | By Glenn Somerville

* Dollar assets are safe, Geithner assures China
* Recession losing force; U.S., China must alter growth tack
* Backs strong dollar, calls for more flexible yuan
* China says cooperation can boost global confidence
(Adds Chinese Vice-Premier Wang's comments)

BEIJING, June 1 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.

A major goal of Geithner's maiden visit to China as Treasury chief is to allay concerns that Washington's bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.

China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China's total U.S. dollar-denominated investments could be twice as high.

"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.

His answer drew loud laughter from his student audience, reflecting skepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.

But later in the day, Chinese Vice Premier Wang Qishan said it was important for the two nations to show the world they are working together through their joint economic dialogue.

"We must through our dialogue send a clear signal that China and the U.S. are engaged in practical cooperation to address the crisis," Wang told Geithner, according to the Chinese Foreign Ministry's website (www.mfa.gov.cn).

"This is important for boosting confidence and encouraging global financial stability and economic revival," said Wang.

In his speech, Geithner renewed pledges that the Obama administration would cut its huge fiscal deficits and promised "very disciplined" future spending, possibly including reintroduction of pay-as-you-go budget rules instead of nonstop borrowing.

"We have the deepest and most liquid markets for risk-free assets in the world. We're committed to bring our fiscal deficits down over time to a sustainable level.

"We believe in a strong dollar ... and we're going to make sure that we repair and reform the financial system so that we sustain confidence," he said.

Geithner also offered strong backing for a bigger Chinese role in international policymaking.

"China is already too important to the global economy not to have a full seat at the international table," he said.

ECONOMY LOOKING UP

Geithner, who is due to meet President Hu Jintao and Premier Wen Jiabao during two days of talks, described the recession as still "powerful and dangerous" in much of the world.

Read more

http://www.reuters.com/article/usDollarRpt/idUSPEK1447562009...

(Reporting by Glenn Somerville; Editing by Alan Wheatley/Toby Chopra)

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photoshopwiz's picture

satire ...

~
http://www.youtube.com/watch?v=hBk-ryQIuAw

Chinese students laugh at Geithner (dollar)

Do Chinese Students Laugh At Their Own Leaders?

Perhaps if they were less racist they would have more freedom.

What kind of stupid comment

What kind of stupid comment is that?

Does Anyone have a video of the students laughing at Turbo Timmy

Is there a known link to a video of the Chinese students howling with laughter at Tim Geithner when he reassured them that their assets were safe with the US Government? That would be priceless!

Timmy!

http://www.youtube.com/watch?v=apmir1AURIE

dynamite anthrax supreme court white house tea party jihad
======================================
West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

photoshopwiz's picture

此新的人是性交热闹!



Think this could be an actual pic? ... check it out ... ;-)


此新的人是性交热闹! (Translation: 'This new guy is f'n hilarious!')
Laugh, and the World Laughs With You; Lie, and You Cry Alone

http://thesibylspeaks.wordpress.com/

No, the pic is not real, but

No, the pic is not real, but I wish it was.
Sorry - I was just having fun with photoshop.

photoshopwiz's picture

hey,

~
not the real pic, but the real Sibyl !!! Great site!

You come here often? ;-)
___

re the pic ... thought that was probably the case,
but was fondly hoping.

Thanks

for visiting my site. Glad you like it

Just found DP after tracking the hits from the comment. Better to be here later than never, I guess

photoshopwiz's picture

Welcome ;-)

~
Looks really good ... I was googling to find a video of the students laughing ... and that's how I found you!

Glad you signed up here and hope you'll continue to comment and/or post forums! I've been at the dailypaul for a year and 38 weeks, and it is my favorite site. ;-)

Thanks for the welcome

Yes, it seems like a great site and I'm glad I found it as well.

There are post forums? You may regret letting me know that :lol:

Working on a piece that you guys might be interested in re: the missing face of the GOP and how they should've treated Ron better. Of course, great pic for the header.

Thanks again for the warm welcome

photoshopwiz's picture

nice

~
looking forward to it !

1 bad cop = 1 fired cop -- 1 bad politician = 1 fired politician

Can you imagine if people in office lived by that simple philosophy?

I read this thread and then a laugh appeared in my throat -- Haaaa

Octobox

I laugh at Geithner every day

His pointy ears and stupid eyebrows, and that perpetual frown... and the ever present nonsensical drivel. A total automoton, that guy.

Good for them.

What a tool!

=======
"The consolidation of the states into one vast republic, sure to be aggressive abroad and despotic at home, will be the certain precursor of the ruin which has overwhelmed all those that have preceded it."

- Robert E. Lee, 1866

=======
RON PAUL 2012

I have been laughing for

I have been laughing for years now.... don't blame them a bit.

"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson

I am more concerned about the return of my money than the return on my money. --Mark Twain

Shell games can only last so long

_________________________________

My liberty-minded home base of thought:

www.ponderthis.net

_________________________________

Freedom - Peace - Prosperity

Geithner is a Puppet of the CFR

Day in and day out, we fund the abuses of this criminal enterprise of Fabian socialists that have hijacked our country. When will will all truly unite and stop finding them on all counts?

robpatozz
www.trueworldhistory.info
www.campaignforliberty.com
www.endthefed.us

I think

the Chinese students know BS when they hear it.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

It is embarrassing to me that we are held in such low esteem

that our officials are laughed at throughout the world. (or have shoes thrown at them) Yes, the students know BS when they hear it.

Gee...

Whose officials would those be?

I don't ever recall swearing indefinite allegiance to any officials.

photoshopwiz's picture

please read Ms. Q's forum in conjunction

~
Read the highlights! ;-)

Loud Paradigm Shift Rumblings
http://www.dailypaul.com/node/95031

Posted June 2nd, 2009 by quiltingsando

Long but excellent read with lots of info on what is happening to the dollar and the behind the scenes maneuvers for power.

reedr3v's picture

Thanks for the tip,

that is an interesting article.

They weren't laughing at his comments...

because that is a serious lie that their investments are safe. Rather they were laughing at the carpet burns on his forehead that had been treated at the hospital earlier in the day.

Assert Your Authority

Assert Your Authority

Forehead?

I thought I read that the carpet burns were on his knees.

I assumed he was on his knees long enough...

that he probably tired out and laid his head on the floor...bad picture in my head now.

Assert Your Authority

Assert Your Authority