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Thread: AP: No Dispute Resolution as to a Currency War

  1. #1

    AP: No Dispute Resolution as to a Currency War

    http://finance.yahoo.com/news/End-to...&asset=&ccode=
    End to currency dispute eludes finance ministers

    Currency war threatens; global finance leaders fail to resolve deep differences at IMF meeting

    Harry Dunphy and Martin Crutsinger, Associated Press Writers, On Sunday October 10, 2010, 6:27 am EDT

    WASHINGTON (AP) -- Differences that threaten the outbreak of a currency war persisted after a weekend meeting of global finance ministers, who left without resolving what to do.

    They did agree, however, that the 187-nation International Monetary Fund was the organization best suited to deal with rising global currency tensions that risk overshadowing next month's summit meeting of the Group of 20 nations in South Korea.

    The G-20 includes traditional economic powers such as the United States and Europe along with fast-growing economies such as China, Brazil and India.

    Various nations are seeking to devalue their currencies as a way to increase exports and jobs during hard economic times. The concern is that such efforts could trigger a repeat of the trade wars that contributed to the Great Depression of the 1930s as country after country raises protectionist barriers to imported goods.
    You can read the rest of the AP's story at the link here....
    "Your mother's dead, before long I'll be dead, and you...and your brother and your sister and all of her children, all of us dead, all of us..rotting in the ground. It's the family name that lives on. It's all that lives on. Not your personal glory, not your honor, but family." - Tywin Lannister




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  3. #2
    Dear Finance Ministers,

    Please continue this currency war.

    Thanks,
    Gold and Silver holders
    "Your mother's dead, before long I'll be dead, and you...and your brother and your sister and all of her children, all of us dead, all of us..rotting in the ground. It's the family name that lives on. It's all that lives on. Not your personal glory, not your honor, but family." - Tywin Lannister


  4. #3
    http://kingworldnews.com/kingworldne..._Continue.html

    IMF Fails, Gold Shines as Currency Wars to Continue

    The IMF was unable to stem the tide of competitive currency devaluations over the weekend. As a result, governments and central banks around the world still have the green light to continue with their money printing orgy. Some of the citizens of these various regions and countries have recently been acting as their own central banks by purchasing gold as insurance against the currency wars. As fears escalate, the question now becomes, when will the people of this world once again have a stable system of currency?

    Here is a new piece exclusively for the King World News blog from Ben Davies, CEO of Hinde Capital which sums up the situation nicely:


    October 10, 2010

    IMF At The Epicenter Of Currency Earthquake?

    By Ben Davies, CEO of Hinde Capital

    October 10 (King World News) - Henry Hazlitt was the modern literary agent of libertarianism. At the advent of Bretton Woods he stood alone in his New York Times editorials condemning the monstrosity, as he termed it, that was the IMF. He considered this entity no different to the Federal Reserve Bank. Another organization espousing the values of economic growth and price stability. In reality, they were both merely agents for the propagation of money to aid and abet the continuation of the flawed policies and practices of a country. In the case of the IMF they called on loans from member countries to 'bail out' bankrupt nations globally. The IMF prolonged the inevitable misery and didn't address the issues that got the country into difficulties in the first place.

    Emergent nations once patronized by IMF bailouts and inappropriate 'conditional love' have put two fingers up. I can almost hear the BRIC nations silent mutterings, "Why should we 'flex' our currencies to assist the developing nations who so highmindedly leered over us in troubled times passed and revelled in our misery."

    Bretton Woods was possible due to the economic strength of US. The Plaza Accord was permitted because it was in the best interest of the US. The Louvre Accord which tried to arrest the efforts of the Plaza Accord of two years earlier, ironically, was permitted because it was in the best interest of the US.

    The US and developed nations no longer wield power anymore. " IMF who? " the BRIC’s cry. Right now the emergent nations are more content to say "our currency, your problem". Unfortunately the West, particularly the US have returned the favour, "our bonds, your problem" and so the stalement will prevail.

    Unfortunately as each day passes, the friction of the global monetary fault lines grow stronger. These fault lines will release their energy in the largest world monetary earthquake known to man, as we witness the inevitable demise of the fiat currency system - as all such systems have failed before, leaving not one survivor.

    As currency wars escalate, it is wise for individuals to have a presence outside of the system by owning gold.

    Eric King

    KingWorldNews.com

  5. #4
    Does this have anything to do with it? Im not sure about the source being reliable...

    Obama Set To Flee America As US Dollar Faces 50% Devaluation
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  6. #5
    Quote Originally Posted by DamianTV View Post
    Does this have anything to do with it? Im not sure about the source being reliable...

    Obama Set To Flee America As US Dollar Faces 50% Devaluation
    No, that's Sorcha Faal ie David Booth who's 99.9% wrong with his junk. Fun to read as fiction though...



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