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SEC investigates GM''s pension reports and its deals with Delphi
Just how do they IMPLEMENT such a policy,
if not by rigging the currency, bond, and
metals markets?
* * *
Snow Says Strong Dollar in U.S. Interest
From Reuters
Thursday, October 27, 2005
http://today.reuters.com/investing/financeArticle.aspx?
type=bondsNews&storyID=2005-10-
27T195920Z_01_N27495370_RTRIDST_0_ECONOMY-SNOW-DOLLAR-UPDATE-1.XML
WASHINGTON -- U.S. Treasury Secretary John Snow said on Thursday a
strong dollar was in the U.S. interest and added that currency
values should be set in open markets.
Answering questions on the White House Web site, Snow said it has
been long-standing policy to support a strong dollar. He was
responding to a questioner who asked why the U.S. Treasury was
letting the dollar be devalued.
"We believe that a strong dollar is in America's national interest,"
Snow said. "This is a policy that we have had for some time and
continue to support."
He added: "Currency values should be set in open, competitive
markets, reflecting underlying economic fundamentals."
The U.S. Treasury chief told another questioner, who asked whether
U.S. housing prices were in a bubble, that he did not believe so.
"I don't think this is the case with America's housing market," Snow
said, pointing out that there were many housing markets across the
country with widely varying rates of price rises.
"When we talk about our housing market, we're really talking about
hundreds of housing markets, each with different characteristics, in
local markets," Snow said.
Asked about huge U.S. trade deficits, Snow said much of the blame
lay overseas, where consumer demand was weak.
"The most important factor leading to our trade deficit is that the
U.S. economy has had much higher rates of economic growth and job
creation than our major trading partners over the past decade," Snow
said.
The United States has been pressing trade partners in Europe and
Asia to speed their growth rates to help reduce global imbalances by
boosting their domestic growth.
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