Update 1  adds link to Trichet’s 04 June 2009 statements

Whereas for his predecessor, the late Dr Willem F Duisenberg, money represents the confidence that we place in each other (1),

European Central Bank president Jean-Claude Trichet said on Thursday 04 June 2009 at the ECB press-conference that
the citizens of Europe should have confidence in the steering of policy by fiercely independent bureaucrats,
so that the citizens could consume more. (2)

John Maynard Keynes would have liked that…

Ivo Cerckel
honestmoney@maktoob.com

(1)
International Charlemagne Prize of Aachen for 2002
Acceptance speech by Dr. Willem F. Duisenberg, President of the European Central Bank, Aachen, 9 May 2002
http://www.ecb.eu/press/key/date/2002/html/sp020509.en.html

(2)
Introductory statement with Q&A
Jean-Claude Trichet, President of the ECB,
Lucas Papademos, Vice President of the ECB
Frankfurt am Main, 4 June 2009
+
Transcript of the questions asked and the answers given by Jean-Claude Trichet, President of the ECB, and Lucas Papademos, Vice-President of the ECB
http://www.ecb.int/press/pressconf/2009/html/is090604.en.html
SNIPS
I also confirmed to Kanzlerin Merkel that we have a proved track record in terms of the FIERCE INDEPENDENCE of the ECB.
+
That being said, it is extremely important for the success of what we are doing today, that the confidence of economic agents, businesses and fellow citizens, is reinforced by THE JUDGEMENT THAT THE STEERING of medium and long-term policies is REASONABLE, wise and in line with the overall interest of all such agents. This is true for monetary policies as well as for fiscal policies. And that is true in all countries. All the information I have from all the euro area countries and fellow citizens points in the same direction, without a doubt.
With regard to your second question, on the Baltic countries, we are closely following the situation in all countries, not particularly only that in the Baltic countries. We are observing the most recent events with CONFIDENCE that the appropriate solutions will be found. And I am confident that the solidity of the Baltic States will continue to be demonstrated.
+
And again, I reiterate the fact that the final result depends on us. Nobody is the sole master of the future: the future of the economy is made by all of us. The future is made by our fellow citizens, to a very large extent. If they have CONFIDENCE, then THEY CONSUME MORE and we are in a different, more positive economic universe. And this, in turn, would trigger investment by the corporate sector and starting acceleration of investment. So, we are not passively expecting future economic developments. They depend on our capacity to increase confidence.

dollar and its regime are a big chapter 11

Update 1 added Ponzi scheme and NWO

Update 2 added dollar-regime complacency and TARP reimbursement

Update 3 added second Geither-link and Joe Sixpack

Update 4 adds the Chinese reaction to Geithner

Abu Dhabi investor sells Barclays stake
By Kate Burgess, Peter Thal Larsen and Neil Hume
Published: June 1 2009 21:12 | Last updated: June 2 2009 08:42
http://www.ft.com/cms/s/0/6dcdae88-4ee6-11de-8c10-00144feabdc0.html
SMIP
Shares in Barclays tumbled on Tuesday after one of its largest Middle Eastern shareholders announced plans on Monday night to offload its stake in the British bank, pocketing a large profit less than seven months after making its £3.5bn investment. UNSNIP

Who bought this stake in Barclays?

And how much money will the buyer make with these tumbling shares?

What should we in fact think of such “stories”?

Is this irrationally large Ponzi-scheme an attempt at creating the New World Order?

June 2 (Bloomberg) — Yu Yongding, a former member of the Chinese central bank’s monetary policy committee, said he’ll tell Treasury Secretary Timothy Geithner that the U.S. shouldn’t be complacent about China continuing to buy Treasuries.
(China’s Yu Tells U.S. Not to Be Complacent About Debt (Update1)
http://www.bloomberg.com/apps/news?pid=20601068&sid=aatNgaPM2wQM&refer=home

The United Kingdom of Great Britain and Northern Ireland, where Barclays is located, does of course belong to dollar regime.

The regime maneuvered the price of bank shares higher in order to allow banks to emit new shares and thus obtain more money.

This was the hilarious reimbursement of the Troubled Assets Relief Programme by private money.

TARP chief, Tim Geithner, secretary of the US of A treasury, is now being told by the Chinese they want to keep the US of A dollar as the planet’s reserve currency.

Geithner Says China Has Confidence in U.S. Economy (Update3)
By Rebecca Christie
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSMi3X3PNBFU
SNIPS
June 2 (Bloomberg) — Treasury Secretary Timothy Geithner said China, the biggest holder of U.S. Treasuries, has expressed confidence in the U.S. economy and the Obama administration’s actions to fight the recession
+
He said the Chinese “expect the dollar to be the principal reserve currency for a long period of time — as do we.” UNSNIP

And since Joe Sixpack is standing in his underwear and socks, he can no longer bet in the casino of the dollar Financial Industry.

Hence, Abu Dhabi has been hired by the dollar regime to make it look as if it, Abu Dhabi, is still able to find a buyer for paper, shares in Barclays, issued by the dollar regime.

This will lead to a positive perception of the dollar regime.

By the same token, dollar loyalty will have been maintained for the short term.

In the long term, we shall all realise that the dollar and its regime are a big chapter 11.

Hence, Geithner is being laughed off the stage in Beijing

Geithner backs strong dlr, says China’s assets safe
Sun May 31, 2009 11:57pm EDT
http://www.reuters.com/article/marketsNews/idINPEK12423320090601?rpc=44
Sun May 31, 2009 11:57pm EDT
SNIP
BEIJING, June 1 (Reuters) – U.S. Treasury Secretary Timothy Geithner on Monday reaffirmed his faith in a strong dollar and reassured the Chinese government that its huge holdings of dollar-denominated assets are safe.
“We believe in a strong dollar,” Geithner said in a question-and-answer session after a speech to students at Peking University.
A major goal of Geithner’s maiden visit to China as Treasury secretary is to allay Beijing’s concerns that Washington’s mushrooming budget deficit and ultra-loose monetary policy will undermine both the dollar and U.S. bonds. China is the biggest foreign owner of U.S. Treasury bonds.
“Chinese financial assets are very safe,” Geithner said. His response drew laughter from the audience. UNSNIP

Ivo Cerckel
honestmoney@maktoob.com

Abu Dhabi nets $2.46 bln from Barclays sale
Jun 02, 2009 at 07:48
http://business.maktoob.com/20090000004507/Abu_Dhabi_nets_$2_46_bln_from_Barclays_sale/Article.htm
SNIP
Abu Dhabi has netted profit of around 1.5 billion pounds ($2.46 billion) from Tuesday’s sale of part of its stake in Barclays after just seven months, according to data from traders.

Bing was launched this morning.

A catalyst to a Microsoft – Yahoo deal?

Bing’s real return: A catalyst to a Yahoo deal
June 1st, 2009 Posted by Larry Dignan @ 7:16 am
http://blogs.zdnet.com/BTL/?p=18977

Ivo:
I am surprised to see Microsoft doing it alone so soon after Wolfram Alpha. (not that Wolfram Alpha should not have done it alone [smile]).

Now what?  Where’s the deal?

This is Google:
“Your blog is marked as spam”
Blogger’s spam-prevention robots have detected that your blog has characteristics of a spam blog
(Sunday, May 31, 2009
Google Relents—Finally
http://www.georgereisman.com/blog/

This Honest-Money blog is Google-spammed

Yes, I have a this But-It’s-Not- Google post from last Friday 29 May.

Still waiting for the deal …

Ivo Cerckel
honestmoney@maktoob.com