Mr. Geitner are you really that stupid or do you just pretend to be?

[Statistical]

(Reuters) - Treasury Secretary Timothy Geithner said he was confident that China would see that it is in its own interest to make its currency more flexible, and said global economic recovery "looks quite strong now."

Geithner, in an interview on Tuesday with India's NDTV, said it was "China's choice" whether or not it revalues the yuan.

"As I said before and I'll say it again, but I want to make sure I am repeating myself, I am confident that China will decide it's in their interest to resume the move to a more flexible exchange rate, that they began some years ago and suspended in the midst of the crisis," he said in India's capital.

The United States on Monday reiterated its call for China's currency to be market-based, as lawmakers warned they would act if there was no movement from China on revaluing the yuan.

Geithner's comments came shortly after a Chinese foreign ministry spokeswoman said China never manipulates its currency and that the U.S. trade deficit with China did not depend on the yuan's value.

http://www.reuters.com/article/idUSTRE63524M20100406

Saying it is China's "choice" on if/when/how much to revalue their currency is like saying it is the Mafia choice how much protection money they get to extort.

The Yuan is artificially devalued to half or one third of its true value. This widens the gap between Chinese production costs and rest of world. Thus artificially boosting demand for Chinese goods at the expense of manufacturing around the world AND the Chinese citizens.

The Yuan MUST be allow to float as every other major currency on the planet does. Accepting anything less than that is financial suicide for the United States.




Then he is stupid/naive/two faced enough to say this in closing:

"We're working with countries around the world to make sure there is a level playing field globally so that our companies, as they compete globally, are competing on a fair basis. That's the general imperative and it goes beyond China," he told the TV channel.

:wtf: Really? I mean fucking really? Allow China to artificially keep value of Yuan low and not touching that violating but making it "fair" is an OXYMORON you MORON!

It would be like having two boxers, one gets to bring and use firearms in the ring and the other isn't. However it is going to be a "fair fight". The referees are going to be strict with the rules well except for that "minor one" involving one boxer gunning the other one down. Yup other than that it will be a fair fight.

It is absolutely impossible to EVER under ANY circumstance have fair trade is China can artificially set its exchange rate that it is always the lowest cost option.