Wednesday, March 25, 2009

Geithner's Freudian Slip Roils FX Market

It went down sort of like this: Mr. Geithner, apparently wanting for a sense of protocol during a recent press conference, says, in effect, "SDR's? International currency? We'd like that!"

After the dollar descends like a jet that's just sucked a flock of geese into each engine, Roger Altman nudges him and says, in effect, "Ahem. On behalf of the market [which is crashing, you blithering idiot], would you like to, ahem, change your remarks?"

Geithner emits invisible question marks, so Mr. Altman kicks him under the table. "I said, would you like to change your remarks, on behalf of the market!?"

Geithner discerns the clue and backpedals appropriately. But the world can never forget what he just said.

Gold has never looked better.

Bloomberg reported it this way.


Post a Comment

<< Home