Geithner Announces End of Depression

…or at least said that “he saw signs of confidence returning to the U.S. financial sector and pledged that the United States would pursue policies that preserve the dollar’s value.” 

Indeed, with stunning economic acuity and even better grammar, Secretary Treasury Timothy Geithner stated yesterday that the “policies of the United States are designed to lay the conditions for a strong dollar for more stability in the international monetary system and among the major economies.” 

Never mind that one does not typically “lay” conditions.  The more important point here is that Geithner is arguing that the dollar is strong while it is trading low and the (fiat) monetary base has nearly doubled (and that was in March!).

Read more on Geithner’s statement here, and check out Joseph Keckeissen on “Why the Crisis Hasn’t Ended” in the Mises Daily here.

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