Tuesday, October 19, 2010

Currency Wars: Geithner Says Devaluing Dollar is Not a Viable Strategy (!)

Geithner, October 18 2010, in California:

“It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity and competitiveness,”
“It is not a viable, feasible strategy and we will not engage in it.”
The mind boggles. Dropping rates to zero and engaging in QE is what then?

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