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Posts Tagged ‘United States Secretary of the Treasury’

BREAKING NEWS: Mounting Evidence that Dominique Strauss Kahn was Framed

Posted by Admin on July 10, 2011

http://www.globalresearch.ca/index.php?context=va&aid=25533

Global Research, July 7, 2011
While the media has gone to arms length to obfuscate the matter, there is mounting evidence that Dominique Strauss Kahnwas framed.

According to media reports, the 32-year-old Guinean Sofitel housemaid received the modest sum of 100,000 dollars paid into her bank account. The New York Times acknowledges the payment but fails to analyze the source of these payments. In an utterly confused statement, the NYT suggests that the money was deposited in the housemaid’s account by her Guinean boy friend who is serving time in a high security prison:

According to the two officials, the woman had a phone conversation with an incarcerated man within a day of her encounter with Mr. Strauss-Kahn in which she discussed the possible benefits of pursuing the charges against him. The conversation was recorded.

That man, the investigators learned, had been arrested on charges of possessing 400 pounds of marijuana. He is among a number of individuals who made multiple cash deposits, totaling around $100,000, into the woman’s bank account over the last two years. The deposits were made in Arizona, Georgia, New York and Pennsylvania.

The investigators also learned that she was paying hundreds of dollars every month in phone charges to five companies. The woman had insisted she had only one phone and said she knew nothing about the deposits except that they were made by a man she described as her fiancé and his friends. (NYT, July 1, 2011, emphasis added)

The bank records of the housemaid, not to mention the record of her telephone calls, are known to police investigators, yet both the media and the prosecutors have failed to reveal the identity of the persons who instigated these money transfers.

The reports suggest that they may be “drug related”, thereby casually dismissing the likelihood that the money could have been part of the framing of DSK. The reports also mention that the money deposits were made “over the last two years”, thereby conveying  the impression that they bear no relationship to the DSK affair.

The exact timing of these money transfers including the identity of  senders are known to police investigators. Why has this information not been released?

If the 100,000 dollars had indeed been deposited into her bank account in the course of the last two years, why on earth would she be working as a housemaid?

Regime change at the IMF

Why was the substance of the housemaid’s false accusations not released at an earlier stage?  Who was protecting her?

Why did the media wait to reveal information which confirms DSK’s innocence.

This information was known to the prosecutors at an early stage of the investigation, yet it was only released after the appointment of France’s Finance Minister Christine Lagarde as Managing Director of the IMF.

Lagarde’s candidacy was confirmed and accepted on June 26th. Her mandate was confirmed on June 28th following a decision of the IMF’s 24 member executive board.

Lagarde is an appointee of Wall Street and the US banking establishment. Her candidacy had been approved by U.S. Treasury Secretary Timothy Geithner on the 28th of June:

“I am pleased to announce our decision to support Christine Lagarde to head the IMF,” Geithner said in a statement hours before the 24-member IMF executive board was expected to select her as its managing director.

Careful timing. In a bitter irony, the report from the prosecutor proving DSK’s innocence was released on the day following the IMF’s executive board decision instating Lagarde as Managing Director of IMF for a five year term.

The frame-up has visibly succeeded. Who instructed prosecutors not to release this information until after the appointment of Lagarde as IMF Chief?

If this information had been revealed a few days earlier, Lagarde’s candidacy as IMF chief might have been questioned.

Regime change at the IMF has been speedily implemented, not to mention the implications of the DSK affair in relation to the French presidential elections.

Christine Lagarde commenced her five year term as IMF Managing Director on July 5th at the height of Greece’s debt crisis.

Sofar, the likely hypothesis of a frame-up directed against DSK is not being touched upon by the mainstream media.

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Geithner suggests major currencies “in alignment”

Posted by Admin on October 21, 2010

 

Official portrait of United States Secretary o...

Mr.Geithner

 

GYEONGJU, South Korea (Reuters) – Treasury Secretary Timothy Geithner on Thursday said major world currencies were “roughly in alignment” and called on Group of 20 finance leaders to agree to “norms” on exchange rate policy.

Laying out his agenda for this weekend’s G20 meetings in South Korea , Geithner said in a Wall Street Journal interview he would seek numerical targets for “sustainable” trade surpluses and deficits as a way to help rebalance the global economy.

He is hoping that by persuading major emerging and advanced economies to cooperate on foreign exchange policies, he can coax China into allowing the value of its yuan to rise further.

“Right now, there is no established sense of what’s fair,” Geithner told the Journal.

“We would like countries to move toward a set of norms on exchange rate policy,” he added.

Geithner also sought to provide some reassurances that the United States is not deliberately trying to devalue its dollar.

The Journal said that in the interview he suggested that he saw little reason for the dollar to sink further against the euro and the yen, saying that these “major currencies” were “roughly in alignment now.”

The comments briefly lifted the dollar in Asian trade, pushing it up to 81.84 yen from about 81 yen. It settled back down to 81.15, near a 15-year low.

Geithner on Monday in California vowed that the United States would not engage in dollar devaluation, saying “No country around the world can devalue its way to prosperity.”

CURRENCY TAKES CENTER STAGE

While past G20 meetings avoided direct confrontation on thorny exchange rate issues, the meetings starting on Friday in Gyeongju are expected to address the problem head-on. The dollar’s protracted slide and China’s tightly controlled trading band for the yuan have put upward pressure on other emerging market currencies that are allowed to move more freely.

While some criticism has been leveled at U.S. Federal Reserve monetary easing for weakening the dollar, U.S. officials point to China’s determination to prevent its yuan from rising as the main source of tensions.Actions by several countries, including Brazil this week, to stem the rise of their currencies and protect their exporters, has fueled talk of a “currency war.”

“When large economies with undervalued exchange rates act to keep their currencies from appreciating, that compels other countries to do the same, setting off a dynamic of competitive nonappreciation,” a senior Treasury official told a news briefing on Wednesday, referring to China.

Geithner repeated his view that China’s yuan is significantly undervalued, but if the pace of appreciation since September were sustained, it would correct the undervaluation over time.

“If China knew that if it moved more rapidly, other emerging markets would move with them, it would be easier for them to move,” Geithner said.

CURRENT ACCOUNT TARGETS

One key form of agreement that the United States is promoting are specific targets on current account balances. This would build on commitments made by the G20 in Pittsburgh, Pennsylvania, last year to help rebalance growth away from exports in fast-growing countries and to boost savings in advanced import-consuming economies.

“We are exploring whether we can agree to commit to keep the external imbalances to levels that are more sustainable, making allowances for different kinds of countries, such as commodity producers,” Geithner told the Journal.

China projects that its current account surplus will fall below 4 percent of gross domestic product in the next three to five years, down from about 9 percent in 2008.

But getting buy-in from the divergent G20 members won’t be easy. India, Asia’s third-largest economy, signaled it would oppose plans to set specific limits on current account balances.

“I do believe that this has to be looked at more fundamentally and by artificially linking current account deficit levels to the GDP you are merely skimming the surface. I am not sure that this will be supported by very many emerging economies,” a finance ministry official told Reuters.

Brazil, one of the countries complaining most loudly about the rise of its currency, is not sending its two top economic officials to the Gyeongju meetings.

Brazilian Finance Minister, Guido Mantega, is staying home to deal with currency issues after announcing a new tax on foreign buyers of government bonds on Monday.

And tensions over the pace of the yuan’s rise appear likely to continue. Since China depegged the yuan’s from the dollar in mid-June, it has risen about 2.6 percent.

However, China has signaled through a state newspaper that the recent faster pace of yuan appreciation may not be sustained. Chinese exporters could withstand a further yuan rise of almost 6 percent before they started to lose money, a Reuters poll showed on Wednesday.

U.S. officials maintain that the yuan is probably undervalued by some 20 percent.

(Editing by Tomasz Janowski)

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