People You Should Know: Timothy Geithner

About:

Timothy Geithner is most certainly a man we should all be familiar with. Whether you are from the USA, Canada, Europe, China, India, South Africa, Argentina, or anywhere else on the globe, indeed Geithner impacts your life in one way or another. Many will not know this man and even I a couple of months back can attest to this. Certainly Geithner is a powerful man, and a very powerful man indeed. 

Actually, Timothy Geithner very well may be one of the most powerful men on our planet. Here is a breakdown on Mr. Geithner.

Bio:

Who is he: Timothy Geithner is not an ordinary Joe. Geithner is an important face in American and international finance and banking. He currently holds a position as the United States Secretary of the Treasury and overseers as the American Governor of Board to the International Monetary Fund (also known as the World Bank). Previously, Geithner served President of the Federal Reserve Bank of New York.

Why is he important: Again, Geithner may very well be one of the most powerful men on the planet. Not only is he the head of the Treasury, which gives him power over influential functions such as managing Federal finances, collecting taxes, minting currency and coinage, controlling and managing public debt, and enforcing federal fiscal and tax laws, but once again he is America's Governor of Board for the IMF. Do not underestimate his position of power.

The IMF is considered to be the World's Bank. There are 188 members of the world bank (in retrospect there are 194 members of the U.N.). The IMF controls (and sometimes indirectly determines) the exchange rates between currencies, determines financial policies for participating countries, and also serves as a money lender to emerging-market and other various countries. Member countries put in money to the IMF bank creating a pool of money and assets; making up the "World Bank" which also determines Quota. Quota is created by the money a country puts into the system relative to the size of its economy. The larger the Quota, the more voting rights a country gains—which it can exercise on matters that concern the IMF. Matters including ranking and international monetary policy. Currently, the U.S. has the highest quota and the most voting rights.

Being America's Governor of Board for the IMF, intrinsically, seeing that no one country can outvote the USA, Geithner, in essence, is the head of the IMF.

People You Should Know:

Our Secretary of Treasury Timothy Geithner is a very powerful man! He is a influential figure on the USA's and the World's money supply both domestically and internationally. Listen out for his name in the news and such.