{"id":2285,"date":"2009-06-01T16:01:46","date_gmt":"2009-06-01T20:01:46","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=2285"},"modified":"2009-06-01T16:05:26","modified_gmt":"2009-06-01T20:05:26","slug":"tim-geithner-is-a-laughingstock-in-china-too","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2009\/06\/01\/tim-geithner-is-a-laughingstock-in-china-too\/","title":{"rendered":"Tim Geithner is a Laughingstock in China, Too"},"content":{"rendered":"

Ouch, Treasury Secretary Tim Geithner who has become pretty much a permanent punch line here is apparently a laughingstock <\/a>in China too (emphasis mine):<\/p>\n

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.<\/p>\n

A major goal of Geithner\u2019s maiden visit to China as Treasury chief is to allay concerns that Washington\u2019s bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.<\/p>\n

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\u2019s total U.S. dollar-denominated investments could be twice as high.<\/p>\n

\u201cChinese assets are very safe,\u201d Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.<\/p>\n

His answer drew loud laughter from his student audience, reflecting scepticism 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.<\/strong><\/p><\/blockquote>\n

Great, just fabulous… the Chinese are laughing and the Russians are calling us Marxists<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ouch, Treasury Secretary Tim Geithner who has become pretty much a permanent punch line here is apparently a laughingstock in China too (emphasis mine): 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 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[703,1363,506],"class_list":{"0":"post-2285","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-china","9":"tag-economy","10":"tag-tim-geithner","11":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-AR","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1800,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/03\/25\/idiot-geithner-speaks-dollar-sinks\/","url_meta":{"origin":2285,"position":0},"title":"Idiot: Geithner Speaks, Dollar Sinks","author":"Jeff","date":"March 25, 2009","format":false,"excerpt":"In remarks before Council on Foreign Relations today Treasury Secretary Tim Geithner said the U.S. is open to an SDR linked currency... Geithner later clarified his remarks by saying that \"the dollar remains the world's dominant reserve currency\" and that that is likely to continue for some time, but the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1828,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/03\/27\/john-shadegg-geithner-needs-to-explain-shift\/","url_meta":{"origin":2285,"position":1},"title":"John Shadegg: Geithner Needs to Explain Shift","author":"Jeff","date":"March 27, 2009","format":false,"excerpt":"Congressman John Shadegg (R-AZ) wants to know why Treasure Secretary Tim Geithner isn't facing tough questions over his apparent change in positions on China\u2019s request to abandon the dollar as the global currency: (CNSNews.com) \u2013 An Arizona congressman wants to know why Treasury Secretary Timothy Geithner isn\u2019t facing tough questions\u2026","rel":"","context":"In "Education"","block_context":{"text":"Education","link":"https:\/\/www.jasetaro.com\/blog\/category\/education\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3011,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/11\/19\/wsj-geithner-under-fire-amid-frustration-on-economy\/","url_meta":{"origin":2285,"position":2},"title":"WSJ: Geithner Under Fire Amid Frustration on Economy","author":"Jeff","date":"November 19, 2009","format":false,"excerpt":"Normally I'd say the calls for Treasury Secretary Tim Geithner's resignation were just hot air but given the recent disclosures about his role in AIG bailout while President of the New York Federal Reserve Bank, I suspect this is more than just normal political blustering: Snowballing frustration about the economy\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1631,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/03\/08\/44-out-of-800\/","url_meta":{"origin":2285,"position":3},"title":"44 Out Of 800???","author":"Jeff","date":"March 8, 2009","format":false,"excerpt":"Chris Wallace tossed out an interesting factoid on Fox News Sunday this morning... Out of 800 cabinet positions that require Senate confirmation Barack Obama has only nominated 44 and of those only 28 have been confirmed. I'm hoping I heard that wrong it strikes me as being an absurdly low\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3151,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/01\/07\/bloomberg-geithners-fed-told-aig-to-limit-swaps-disclosure\/","url_meta":{"origin":2285,"position":4},"title":"Bloomberg: Geithner’s Fed Told AIG to Limit Swaps Disclosure","author":"Jeff","date":"January 7, 2010","format":false,"excerpt":"In a sane world Tim Geithner's tax troubles would have kept him from being confirmed as Treasury Secretary. Unfortunately, we don't live sane and those tax troubles pale in comparison to what we're learning about the Geithner led Federal Reserve Bank of New York's role in the AIG bailout: The\u2026","rel":"","context":"In "Culture of Corruption"","block_context":{"text":"Culture of Corruption","link":"https:\/\/www.jasetaro.com\/blog\/category\/culture-of-corruption\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1785,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/03\/24\/obama-administration-seeks-broad-power-to-seize-firms\/","url_meta":{"origin":2285,"position":5},"title":"Obama Administration Seeks Broad Power to Seize Firms","author":"Jeff","date":"March 24, 2009","format":false,"excerpt":"This is rather frightening, the Obama administration is not only seeking broad power to regulate risk on Wall Street, they're also seeking the broad power to seize companies that the Treasury Department thinks may represent a risk to our economy if they fail: Treasury Secretary Timothy F. Geithner is set\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=2285"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2285\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=2285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=2285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=2285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}