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The Real Truth
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Thread: The Real Truth

  1. #1
    Join Date
    Jun 2008
    Location
    Florida -The Redneck Riviera
    Posts
    1,734

    Default The Real Truth

    About inflation, that is. Here is the final word on the subject.


    STEPHANOPOULOS: Are you worried about hyperinflation down the road?

    GEITHNER: That's not going to happen in this country, will never happen.

    STEPHANOPOULOS: Why?

    GEITHNER: Will never happen. Because we have a strong, independent Fed, with a clear authority from the Congress to keep inflation low at -- stable at low levels going forward.

    STEPHANOPOULOS: The Fed has been putting so much money into the system.

    GEITHNER: But that's not going to create the risk of hyperinflation in the future. We have a strong independent Federal Reserve with a very strong mandate from the Congress, and they will do what's necessary to keep inflation low and stable over time.

    Audience: [insane laughter]

    So there you have it: a strong Fed will prevent inflation. STEPHANOPOULOS fucked up in using the word "hyperinflation" which is defined (commonly) as 50% or higher inflation PER MONTH. 50% annual inflation is not hyperinflation so timmy is off the hook.

  2. #2
    akak Guest

    Default

    Research, was this an honest-to-God exchange? What an incredible and ludicrous evasion by Geithner! His arrogance is only matched by his cluelessness. Talk about the inmates running the asylum!

  3. #3
    Join Date
    Feb 2009
    Posts
    143

    Default

    And just look at what they have done with their "...strong mandate from Congress."

  4. #4
    chux03 Guest

    Arrow Every time he talks....he lies!!

    Well, long as they have that....."strong mandate from Congress" I'm sure he....supports Ron Paul's bill that calls for an AUDIT OF THE FED, doesn't he?? "Turbo" Tim TO THE RESCUE!! This crowd is something....

  5. #5
    Join Date
    Feb 2009
    Location
    Down in it...
    Posts
    194

    Default

    Research, was this an honest-to-God exchange?
    Full 4 page transcript can be found here: http://abcnews.go.com/ThisWeek/story?id=7200273&page=1

    He also mentions there is about $135 Billion left in TARP...

  6. #6
    akak Guest

    Default

    Quote Originally Posted by ANGRYITCH View Post
    Full 4 page transcript can be found here: http://abcnews.go.com/ThisWeek/story?id=7200273&page=1

    He also mentions there is about $135 Billion left in TARP...

    Thanks man! (I hesitate to say "Thanks, AngryItch!" --- just doesn't sound right!)

  7. #7
    Join Date
    Nov 2008
    Posts
    195

    Default

    Quote Originally Posted by akak View Post
    Research, was this an honest-to-God exchange?...
    I watched Geithner in an interview with Chris Wallace a few weeks ago. As intelligent as he is supposed to be, he interviews very badly. In other words that exchange is very believable to me.

    In the interview I watched, Geithner danced around and around the "stress test" for banks. He admitted that NO bank would fail, or even could fail. (So, it really isn't a test and why bother?).

    Geithner is one of the primary reasons I believe the economy is not going to smoothly recover to its former levels. That belief is why I continue to convert my retirement funds into mining stock indexes and PM indexes (I know, just paper... sigh...).

    Now, Angie Merkel, I have a lot of hope in her leadership. Time will tell.

  8. #8
    chux03 Guest

    Default

    Tom Gray.... you should have cleaned up with that reco on Royal Gold that was at about $37 when I mentioned it to you a couple of weeks ago. It's now $44.55. How'd you do??

    Me? I was going to do a covered call on RGLD for April and that was all well and cool as long as it stayed under $40. woops....and that happened while I was trying to figure out what I had to do at my brokerage to get that trade going. Oh well....anyway to do that I would have to have purchased 100 shares. And I didn't do that...though I did buy some more SLW shares.

  9. #9
    Join Date
    Nov 2008
    Posts
    195

    Default

    [QUOTE=chux03;54601]Tom Gray.... you should have cleaned up with that reco on Royal Gold that was at about $37 when I mentioned it to you a couple of weeks ago. It's now $44.55. How'd you do??

    Chux, thanks for the information on Royal Gold. My retirement funds severely limit how often I can move from one paper to another paper (yes, I know, its all just paper). I have a few more days before I can make another "rebalance".

    When my plan allows, I plan to move into RGLD - Royal Gold, GDM - NYSE Arca Gold Miners Index, GDX -Market Vector Gold Miners and CEF -NYSE Central Fund of Canada.

    Obviously, I am long term bullish on gold as a safe haven and speculative on silver. That is, I think gold will go up, I think silver might really go up.

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