The Jury Talks Back

3/26/2009

Well done Timmy!!!

Filed under: Uncategorized — Scott Jacobs @ 10:40 pm

Timothy Geithner, as he’s wont to do, opened his ignorant pie-hole and boned the dollar.

Someone at the White House needs to realize that when they talk about anything related to the economy, they screw it over.

This time, Timmy-boy mentioned that the US was open to the suggestion from China (and Russia and others) that we change the international monetary system (which is currently based on the dollar – thus the reason oil and gas go up when the dollar falls).

Well done, our good and faithful public servant.

And, to make things even better, the Left Wing Echo Chamber decided to – shortly before Geithner decided to openly comment on the China suggestion – start the stories about how China didn’t really suggest we change the global currency, and how it was nothing but an attempt by those darn rethuglicans to stir up trouble.

The screen-shot Instapundit shows is just too funny.  I simply must show you all.

This is what happens when you fail to get your stories straight.

This is what happens when you fail to get your stories straight.

6 Comments

  1. Scott,
    Go read what Ben Smith wrote and what the Chinese governor actually proposed and then tell me who has failed to get their stories straight. As you yourself acknowledge, nobody is calling for a new global currency.

    Now Smith isn’t alone in making this misinterpretation, but that doesn’t make him (or Rep. Bachmann) any less of an idiot.

    As for the merits of the proposal to reform the International Monetary System, that is a discussion that would actually be interesting to follow.

    Comment by Bob Loblaw — 3/27/2009 @ 11:48 am

  2. I would love to see what Yglesias is writing about this on JournoList!

    Comment by carlitos — 3/27/2009 @ 1:10 pm

  3. it appears that when Ear Leader and his minions speak extemporaneously, they slip up and tell the truth. when they are speaking from prepared text, they are lying to us.

    Comment by redc1c4 — 3/27/2009 @ 2:35 pm

  4. Go read what Ben Smith wrote and what the Chinese governor actually proposed and then tell me who has failed to get their stories straight. As you yourself acknowledge, nobody is calling for a new global currency.

    I did no such thing. In fact, not only are you wrong, with China suggesting exactly that, but Russia and the UN itself speaking in support of leaving the dollar at the global standard.

    this misinterpretation

    When they said can not be misunderstood, unless you are an idiot.

    Russia:

    Speaking at an economic conference in Astana, Kazakhstan, last week, Kazakh President Nursultan Nazarbayev proposed a global currency called the “acmetal” — a conflation of the words “acme” and “capital.”

    China:

    the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.

    UN Panel:

    Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.

    How the bloody hell do you get “not what they suggested” from that? Seriously, how?

    Comment by Scott Jacobs — 3/27/2009 @ 3:35 pm

  5. […] of Patterico’s: Scott Jacobs of The Jury Talks Back has a more fiery post about the effect of  Tim Geithner’s rhetorical missteps on the American economy.  This […]

    Pingback by The Only Failure That Could Be Rewarding « Bringing the Spirit of 1773 Back to Boston — 3/27/2009 @ 11:37 pm

  6. Sorry Scott, I’m not interested in playing semantic games nor hurling insults back & forth. Serious proposals to reform the International Monetary System and decouple it from the US dollar deserves better discussion than you seem willing to engage in.

    I don’t consider calling what is being proposed “a call for a new global currency to replace the dollar” as a full and accurate statement of what is actually being proposed; even if that statement itself is “true”. If you want to skate around on the surface and play word games, fine – have fun. For myself, I’ll seek more serious discussion elsewhere.

    Comment by Bob Loblaw — 3/28/2009 @ 2:07 pm

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