Geithner thinks he’s busy now? Wait until a 4,000 mile high stack of twenties lands on his desk, awaiting his signature.
The Fed’s decision to print up a trillion dollars of crisp new greenbacks just a few days after we assured China that their investments in US debt were sound is kind of funny. Slapstick, maybe. We just traded in China’s $1 trillion in claims on our future production for little green pieces of paper. Bargain!
If I were China, I’d take those green pieces of paper and trade them for something that might actually hold its value. Coca Cola wants to buy your juice company? Why not Pac-Man and buy Coke?
Personally, I’m going long the manufacturers of printing presses. That’s a lot of twenties.