I agree with all except the bandit is the Sec Treas.
On Apr 1, 5:07 pm, xi <[email protected]> wrote: > Despite what final press conferences and joint comuniques could tell, > unfortunately neither the most basic point, regulation of financial > markets, will reach consensus. > > US, Europe, Japan, China, etc. will praise unity and blah blah blah. > But monitoring will be domestic. It means that Wall Street boys will > rule US financial markets supervised by the Fed and the US secretary > of state. What really matters to the rest of the world, the greedy Fed > and the thirsty US Secretary of state will supervise the greenback > printing machine. An alcoholic will supervise that the distillery does > not exceed limits. > > We can expect limits in bonusses, even some financial derivative > products could be banned, a few tax heavens pointed out as guilty, > etc. But we cannot expect a relief for the greenback printing > machine. > > When I studied, it was difficult for me to believe that all empires > and all great nations died due to hyperinflation. Why they did not > learn? I asked to myself. Even now while I am watching it, is > difficult for me to believe it. Central banks were created exactly to > avoid that risk, dark desires from governments to print fiat money to > show their people believe in a temporary rossy world while hiding its > final collapse. Now, an "independent" Central bank is just another > greedy player in that game. Capital is fleeing the U.S. In January, > foreign investors sold 43 billion U.S. dollars of long-term U.S. > bonds, compared with an inflow of 34.7 billion U.S. dollars into the > country. > > I guess that situation in USA must be more hopeless to make them > understand. That must be politics. > > Greedy executives fighting for a share of a cake that is putrid > inside, I guess they must say to themselves "better that cake than > none". "The immense 'U.S. treasury bonds bubble' has not only badly > weakened new demand among investors, but also put foreign investors in > danger of seeing their dollar-denominated assets shrink in value" said > Yu Zuyao, an honorary economist with the Chinese Academy of Social > Sciences (CASS). > > Unfortunately, the world cannot be more divided than now. Probably one > day it will be united. Too late, of course. > > At least I want to trust on president Lula from Brazil, he told few > days ago “This was a crisis that was fostered and boosted by the > irrational behaviour of people who were white and blue-eyed, who > before the crisis they looked like they knew everything about > economics, but now have demonstrated they know nothing about > economics,” he said. (1) And he added "I can only say that this part > of humanity that is the major victim of the world crisis, these people > should pay for the crisis? I cannot accept that." (2) > > Peace and best wishes. > > Xi > > (1) President Lula of Brazil blames crisis on 'white and > blue-eyed'http://www.timesonline.co.uk/tol/news/politics/article5983430.ece > > (2) Financial crisis 'caused by white men with blue > eyes'http://www.independent.co.uk/news/world/politics/financial-crisis-cau... > > On Mar 30, 8:26 pm, xi <[email protected]> wrote: > > > > > While the former meeting in Washington seemed pretty peaceful, this > > one seems harder. The reason might be that, globally, we can see a > > relief in 2010 and maybe we, the global economy, might reach its > > bottom within 2009 or early 2010 in terms of growth or recession. Now, > > most governments are thinking on 1) the next phase of this crisis and > > 2) on rules to prevent new ones like this. > > > There one point of agreement: financial system requires more > > regulation, transparency, etc.. Both standardisation of good practices > > and rules seems to be a point of agreement. First disagreements come > > when we talk about international monitoring on how such practices are > > and will be into place in each practice. Is it just a gentlemen > > agreement? If not, which institution will monitor them? Has the > > current IMF authority to supervise them in all countries? And could it > > get a way to force them somehow? Most of those questions require a > > complete change of international institutions. If we trust on each > > other we have to trust on every feature. If we do not trust, if > > someone wants to keep control of those institutions that is fine but > > then they are not "our institutions" they are "their institutions". > > > But even more important is disagreement on "what next?". And here we > > have the three visions. We are realinsing the three visions on the > > global eonomy, global trade, etc. > > > On the one hand we have the vision from US authorities. We just > > require regulation, everything else is going fine. We, US authorities, > > can handle our economy including the US dollar. > > > On the other hand, we have the Russian-Chinese vision. As the US > > dollar is a common currency, we, the world, either own a global > > currency or US monetary policy (and any other monetary policy) must be > > strictly enforced by a multilateral instititution that prevents, or at > > least softens, the collapse of the US dollar and an apocaliptic > > hyperinflation worldwide as result of current financial policies. > > > A third pole is Europe-Japan. They share fears, but they both are > > cushioned by savings, wealth and robust social networks. They intend > > to allow slow decline until we all see and accept the unavoidable > > changes. > > > My opinion is that unfortunately this thrid vision will prevail > > disregarding what final comuniques tells (if anything at all) about > > this issue. But, in fact, more and more the world will have two > > financial systems. One based on the IMF, the US dollar, etc. as it is > > today. While changing step by step. That system will apply to Europe > > and USA and a few strongly dependent economies.Secondly, we will have > > another system mostly for emerging and developing economies that > > formally will use one-to-one agreements such as swap mechanisms, bi- > > lateral or regional free trade zones, regional banks, etc. > > > Peace and best wishes. > > > Xi- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
