Unbelievable! Geithner Admits That He Doesn't Know What To Do

Lorimer Wilson September 18, 2011 Comments Off on Unbelievable! Geithner Admits That He Doesn't Know What To Do 2,445 Views

An Associated Press release has said that U.S. Treasury Secretary Timothy Geithner has told eurozone finance officials the U.S. is not trying to lecture them on their debt crisis saying that “we still have our challenges in the United States” and that “our politics are terrible… maybe worse than they are in many parts of Europe”. The U.S. finance chief said that given the challenges the U.S. faces, “we’re not in a particularly strong position to provide advice to all of you.” Why isn’t this breaking news? Words: 570

So says Wim Dankbaar in an article* posted on SeekingAlpha.com which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.

Dankbaar goes on to say, in part:

I could not believe my eyes when I saw this press release coming on the wires. Is this really a true press release by the Associated Press? May we really accept that the chief US financial advisor, representing Obama, comes to Europe to calm down the markets, with billions of dollar injections, to avoid financial panic, to regain trust in the system – only to confess to his European colleagues that he doesn’t know what to do either? That the U.S. is in an even bigger mess? If so, was he drunk? Did he lose his mind? Did he have a blackout in honesty?

Why isn’t it breaking news? I am truly flabbergasted. When Berlusconi says something about the behind of Angela Merkel, it’s all over the news, but when the U.S. finance boss says that American politics and finance are a mess worse than Europe, nobody reacts. I do not understand. Do you? Why did no one make headlines like these:

Geithner: US is a bigger mess than Europe

EU summit: Geithner admits he doesn’t have a solution

Treasury Secretary blunders at Poland summit

Normally this would trigger the very panic that the U.S. wants to prevent, for which purpose they sent Geithner over. Sometimes I think [that] maybe I am the one that’s crazy but after some reflection I realize how the “presstitutes” operate, if I may borrow that word from Gerald Celente. They don’t want the markets to crash but [to] postpone it as far they can [but] the thing is: we are headed for a crash, an economic meltdown worse than the one we saw two years ago.

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[I now understand] why Warren Buffett proposed a tax increase on millionaires and billionaires and why Obama took Buffett’s proposal over. It may be that Buffett is just philantropic and he wants his fortune to be taxed but [the truth of the matter is that] both men have much more to lose with a financial meltdown that I am pretty sure they both see coming. They know there is no way out of this debt hole so every measure to reassure the markets that it might work out, after all, is proposed. The only problem, though, is that the GOP needs to approve and steer it through Congress – [and] why would they do that if they don’t want Obama to win the election?

*http://seekingalpha.com/article/294707-geithner-confesses-to-european-colleagues-that-he-doesn-t-know-what-to-do-where-s-the-press?source=email_macro_view