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Moscow. Russia.
Organizing
Commitee
International Finance
Congress
Globalization
Process and Hidden Menace of the Crisis of
the World Reserve Currencies
3-5,
Gazetny pereulok, Moscow, 103918 Tel:
(095) 229-1550, 229-86-51, Tel/Fax: 229-7649, 229-7935) www.ffo.ru , e-mail: [EMAIL PROTECTED]
Dear colleagues! After analyzing the current performance and trends at the world stock market, currency market, position U.S. dollar and the U.S. Government’s obligations we and You as well not unfounded have been anxious with the increasing number of publications concerning the feasible crisis of the U.S. Federal Reserve System, world stock market and results in worrying rise of inflation which will be tailed the depreciation the U.S.D., the core world reserve currency. In connection with the emerging tension both at the international finance market and stock market as well, considerable fluctuation in the oil prices, and some other indicators of instability in the financial world, a group which composed of Russian and foreign financial analysts has made a decision to call a special meeting to debate the current precrisis situation in order to consider ways in which we can meet these challenges and elaborate an optimum strategy for the authorities of financial structures in Russia and in other emerging market economies. Cautiously appraising such
information we can see that negative predicts are not only appear in various
publications in Europe or the U.S.A., but even several influential monetary
policy experts and economists as George Soros, Jeffrey Sax, Alexander Livshists,
Nickolay Shmelov and others share these negative
apprehensions.
According to requests of potential participants of the Congress, materials about
International
Finance Congress «Globalization Process and Hidden Menace of the Crisis of the
World Reserve Currencies», (forecasts of the sovereign defaults and their
after-effects, lessons and new opportunities for the emerging market economies)
as well as terms and conditions have been sent to them. The Organizing Committee
is sure that, at any case, the above assumptions can help participants of the
Congress to take the right decision about the composition of their
currency portfolio and to indicate
projects for investments. As the number of the participants for Congress is limited only top chief and professionals with experience of long years work at the currency markets and stock markets are invited. This forum is for professional audience therefore the participation is only possible for people preregistered for the Congress and its terms and conditions. The Congress will focus on key issues and stabilization policy for U.S.D. in several cases. Nowadays many financial experts perceive a trend towards currency blocks based on the dollar, the euro and the yen. For a single currency the euro to come anywhere near matching the dollar as the reserved currency. The U.S.D. could receive another knock after circulation “the golden yuan” as a main currency in the Asia-Pacific region. The situation will be growing worse if payment for oil is made in the euro by Arab countries. All these rather possible steps and trends make one be plunge in a rather deep reverie how to protect and defend currency assets of the main Russian and international financial structures. During last months cost of gold is going up, and some largest companies (Microsoft for example) invested heavily in silver mining. Therefore it indicates that the big investors are looking for safe methods and ways to preserve their deposits and investments. Nowadays the largest players at stock markets (particularly Japanese public and private banks) are trying to release gradually their portfolio from the U.S., Federal Reserve’s obligations and sell off U.S. stocks forcing the value of U.S. dollar to fall. All activities and processes mentioned above are developing too fast since it is impossible to consider them as they have no coincidence. Therefore they are demanding the immediate reaction. There is every indicators instability in the financial world. The menace of destabilization of the world financial system is growing since it can provoke the outflow of U.S.D. from Asia and Europe as well to the U.S.A. It is inadmissible to underestimate all these after-affects fraught with consequences for Russia in particular. Therefore the main theme of upcoming International Finance Congress «Globalization Process and Hidden Menace of the Crisis of the World Reserve Currencies» is stirring a lot of prominent policy-makers, bank circles. Many of them have already confirmed their participation in this Congress. The players at the bond and stock markets in Southeast and Middle East countries focus their attention on the debate about stability U.S.D. as the core world currency reserve. These issues are also interesting for members of staffs of the International Monetary Fund, the World Bank, the International Finance Corporation, the Association of Asian Banks, the Asian Development Bank, the Europe Development Bank and others. All of them can impact on the situation and slowing down the process of instability in the financial world as a whole. The other main theme at the Congress is the Government’s role in the maintenance of the financial stability, which had been put at the recent world Economic Forum in Davos. The task of two participants of this International Finance Congress is to make out the difference between the speculation for a fall and hidden panic at stock market using supplementary information and after weigh the pros and cons, take steps to minimize financial losses of the states, big corporations and private investors during crisis and postcrisis period. Enormous interest of the largest, international financial information agencies towards this Forum confirms that it is very timely to discuss all these issues and stipulate the deeply thought-out and based on principle solutions search on coming out of the arising crisis situation. Taking in consideration the importance of these key issues the Organizing Committee is relying on participants’ assistance in notification about upcoming International Finance Congress and its terms and conditions business partners and the prominent economists and analysts. Once more we stress the urgency of this forum and the effective reaction on it from all interested public and business structures. We believe also that participation in International Finance Congress of large number of leading financial specialists and politicians will keep the discussion in the right course. International Finance Congress will be held on March 6-7 at the «bor» hotel and resort of The President’s Administration Directorate of the Russian Federation Please confirm
Your participation at the Congress not late than February 16,
2001. We highly appreciate the
cooperation with You. With great respect Chairman of theOrganizing Committeeof the International Finance
Congress I.B.Tolstoshein |
programme engl.doc