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Posts Tagged ‘G-20’

We must watch this round of G20.  It appears if we will be standing alone, we have turned everyone against us and it is yet to be seen if we will be strong enough to stand, I don’t think so, we have rotted through extreme over spending and over-extension.

The current EU leader has called the G20 our global governance, could it already be here?  Watch and see…

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Analysis: German tempers fray as U.S. policy gulf widens

(Reuters) – Germany‘s undiplomatic outbursts against U.S. policy, calling it “clueless” before a G20 summit, show growing estrangement on economics as America’s focus shifts away from transatlantic ties to domestic challenges and Asia.

“The Atlantic is getting wider,” said Anton Boerner, head of Germany’s Foreign Trade Association, who spoke of a “creeping alienation” between America and Europe, which has been exacerbated by the global financial crisis.

Germany and the United States often criticize each other’s approaches to aiding economic recovery, with U.S. calls for more expansive policy falling on deaf ears in fiscally disciplined Germany. But Berlin has taken the rhetoric to a new level.

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Looks like this G20 meeting is going to be very “interesting” and maybe a turning point…

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Russia to `Insist’ U.S. Coordinate With G-20 Members on Monetary Measures

Russian President Dmitry Medvedev will “insist” on global coordination of any so-called quantitative easing measures by government when he meets with counterparts from the Group of 20 nations this week.

Such actions will need to be planned in advance in order to avoid creating risks for other markets and economies, senior Kremlin economic adviser Arkady Dvorkovich told reporters in Moscow today.

Russia will also argue against instituting targets on current account surplusses or deficits, Dvorkovich said.

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Click on the article title for a link to full original referenced article.

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Re-balance world economy?  I don’t know about you but that doesn’t seem like it would be a good thing for those on top, us…

It is all the staging for the one world government, God predicted…

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Geithner’s Goal: Rebalanced World Economy

Treasury Secretary Timothy Geithner said he would use weekend meetings of G-20 finance ministers to advance efforts to “rebalance” the world economy so it is less reliant on U.S. consumers, to move toward establishing “norms” on exchange-rate policy, and to persuade others the U.S. doesn’t aim to devalue its way to prosperity.

In an interview with The Wall Street Journal, Mr. Geithner said the world sorely needs to agree on guidelines for exchange-rate policy. “Right now, there is no established sense of what’s fair,” he said.

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More demands for a one world currency, this time from 420 banks…

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420 banks demand 1-world currency

The Institute of International Finance, a group that represents 420 of the world’s largest banks and finance houses, has issued yet another call for a one-world global currency, Jerome Corsi’s Red Alert reports.

“A core group of the world’s leading economies need to come together and hammer out an understanding,” Charles Dallara, the Institute of International Finance’s managing director, told the Financial Times.

An IIF policy letter authored by Dallara and dated Oct. 4 made clear that global currency coordination was needed, in the group’s view, to prevent a looming currency war.

“The narrowly focused unilateral and bilateral policy actions seen in recent months – including many proposed and actual measures on trade, currency intervention and monetary policy – have contributed to worsening underlying macroeconomic imbalances,” Dallara wrote. “They have also led to growing protectionist pressures as countries scramble for export markets as a source of growth.”

Dallard encouraged a return to the G-20 commitment to utilize International Monetary Fund special drawing rights to create an international one-world currency alternative to the U.S. dollar as a new standard of foreign-exchange reserves.

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Global Currency talk gains steam…

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G-20 Should Seek Global Currency ‘Harmony,’ Larosiere Says

Sept. 28 (Bloomberg) — Leaders of Group of 20 nations must build a “more harmonized” global currency system to prevent the risk of competitive devaluations, said Jacques de Larosiere, author of a European report into the roots of the financial crisis.

“We have an international monetary system that doesn’t function well,” de Larosiere, the former head of the International Monetary Fund and the Bank of France, said today in an interview with Bloomberg Television in Brussels. “It’s a real concern.”

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