Overall, the 17 minute interview is not that entertaining, but I have pulled out a few items that DO need your attention.
CORZINE ON EUROPE - (1:00 to 3:00)
They need to be calm. Germany has got the money and therefore has the power.
Leaders there need to use overwhelming force. (SPOKEN LIKE A BANKER - translation is that the world needs more liquidity and free money without limitation!)
Really only the major players matter. It all comes back to Germany. Consensus around the core leadership is the key.
KEY MOMENT - (3:10)
3:10 Cramer asks question does Geithner really believe what he is saying?
Corzine says, "Geithner is not going to say that he wants a weaker dollar."
Goatmug interpretation - So here he have an admission from a former Governor and former CEO of Goldman Sachs that the Treasury Secretary will lie boldly to the entire world. (Interestingly the transcript of the interview is NOT correct here and does not reflect this exchange.) I know that this could be interpreted as just a fleeting example of what Geithner cannot say, but you have to think, of ALL the examples, this is the only statement that really matters from a Secretary of Treasury. This may be a slip frankly, Geithner says he believes in a strong dollar all the time (and lies) but his actions clearly refute these statements. (Cue the Chinese students laughing at him again.) So, in other words, Corzine shares with us that Geithner lies about the dollar because he can..... and he must.
WHAT DOES CORZINE THINK NEEDS TO BE DONE? (paraphrased at 7:00)
"All of the players need to think and act in a coordinated way. They must silence the Finance Ministers and their employees and allow only one message to be provided. They need to lay a big bazooka on the table to stimulate the economy."
Goatmug thought - Once again we have Corzine begging and pleading for government intervention in a massive and coordinated way. We needs us some stimulus or else these markets just won't go up!
Enjoy.
GOATMUG
Goatmug is an investor that cares about you and your family. Goatmug's Blog - Financial Perspectives From The Mountain Top is a collection of thoughts on our economy and how it impacts the lives of investors and average people. While several specific investments are named in many of his posts, these articles are simply invitations for you to do your own research and reference to these securities does not constitute financial advice. Your situation is complex and unique and you should seek professional assistance with your trading and investing. Please visit Goatmug and share your comments at http://www.goatmug.blogspot.com/
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