Wednesday, March 25, 2009
Geithner Confirms China Confidential Report that US is Open to New World Currency, Sending Dollar Down; Currency Rebounds After Affirmation
On Monday, China Confidential reported that the Obama administration is receptive to China's call for the creation of a new international reserve currency--an end to dollar dominance. Scroll for the story ("The Death of the Dollar?").This morning, Treasury Secretary Timothy Geithner said China’s suggestion “deserves some consideration."
The dollar plunged in trading but rebounded after Geithner affirmed its importance in remarks before the Council on Foreign Relations. Click here for the TImes' story.
POSTSCRIPT: China Confidential has learned that billionaire investor George Soros was involved in arranging for Geithner to address the CFR.
Iran Waiting to Make First A-Bombs
Amnon Meranda reports from Jerusalem:
Director of Military Intelligence Major-General Amos Yadlin spoke before the Knesset's Foreign Affairs and Defense Committee on Wednesday and warned yet again against Iran's nuclear ambitions.Continue here.
Iran is biding its time on manufacturing a nuclear weapon for diplomatic reasons, he said, adding that Israel could still prevent the Islamic republic from gaining atomic capabilities.
"It all boils down to fissionable matter," he explained. "The Iranians have finished developing surface-to-surface missile which can carry a nuclear warhead and Tehran has mastered uranium enrichment technologies and can pursue nuclear military capabilities, but ultimately it is a decision the Iranian regime has to make.
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