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After a kind of pre-test, that had been impose on us last year investors bought future production of food and oil and were successfull in (ROI) Retrurn on Investment terms. It was a pre-test that has bullied few tens of millions pf people in undernutritions, in riots, and so on...

Now, Clouds of a Perfect Storm are gathering over us and the Wind carries the same smell of last year as if here we go again. Of course the "knowers" will go look if anticipated productions and distributions are being presently bought, but in fact is seems the answer is No, conspirationist certainly will speculate that the deals are cloaked, hum..private matters.

But From my North Pole Perspective, I see things differently sometimes, you know up-there you go around the World in four steps.

So Why do I make this statement?

When I expected it to become obvious in a garage near you?

What impacts it will have on us?

And Where will the consequences be the more obvious?

I will make my best to present my point in conformity with Kos rules.

Snowy

The What !

I am talking of the the Food as Tributary of Oil Prices and a High Probality of Gas prices comparable than those of last year.  I therefore talk about food inflation, particularly the ones that comes for afar, since the "buy Local" cost less transportation cost altough the fuel needed by your region farmer will rise too, but still the transportation cost for your food produced regionnally should still be cheaper and by buying local you will not paint your federal government in the corner as being Protectionnist.  In all region of the World Regional Solidarity is a Natural Rule and those that still have a sense of belonging applies this rule and respect it.

The Why !

Well, China Oil deals with Iran and Brazil and some others countries change the centralist power of the US currency.

China Elbow Reflexes via North Korea

Serious and tenacious Warnings directed to US Financial System by many countries.

cf: Global Financial, Political, Military Schism in Sight  
by Snowy Owl - Wed Mar 25, 2009

Wed Mar 25, 2009 at 03:26:44 AM PDT

A lot of shaking is going on these days prior to the G20 summit to be held on April 4th.

In a congressional hearing on Capitol Hill, U.S. Rep. Michele Bachmann, a Minnesota Republican, asked U.S. Treasury Secretary Timothy Geithner: "Would you categorically renounce the United States moving away from the dollar and going to a global currency as suggested this morning by China and also by Russia, Mr Secretary?"

Geithner replied, "I would, yes."

She posed the same question to Federal Reserve Chairman Ben Bernanke, who said: "I would also."

Chinese central bank chief Zhou Xiaochuan on Monday urged a wider use of Special Drawing Rights created by the International Monetary Fund as a global reserve asset in 1965.

Zhou's comments followed remarks by Russia last week which said it would put forward a proposal at a meeting of the Group of 20 in London on April 2 for the creation of a new global reserve currency.

Russia said its proposal had broad support among other key emerging market economies including Brazil, India, China, South Korea and South Africa.

more at Global-Financial,-Political,-Military-Schism-in-Sight

Then G20: China takes centre stage  
by Snowy Owl - Tue Mar 31, 2009

Mar 31st 2009 | BEIJING
From Economist.com
Chinese officials assume an increasingly self-confident tone towards the rest of the world.

Now, with the West in economic disarray, China’s leaders see an opportunity if not to supplant American power, at least to start wielding a bit more of the clout that they feel they deserve given recent, rapid economic growth and the country’s importance to a global recovery.

Mr Zhou suggested the creation of a new international reserve currency, managed by the IMF, to replace the dollar.

China Daily, a state-owned English-language newspaper, put it, "what China is going to do is be seen and be heard" at the G20.

The international monetary system breakdown is unfolding

Sun Apr 19, 2009 at 08:06:12 AM PDT

The next stage of the crisis will result from a Chinese dream.

Indeed, what on earth can China be dreaming of, caught – if we listen to Washington – in the "dollar trap" of its 1,400-billion worth of USD-denominated debt.

Listening to US ''Media experts'' and United States Leaders of Economy, by staying prisonner of such an economical carceral reality, one can easily understand what such a prisonner dream of, lets get out of this prison.

LEAP/E2020 has therefore no doubt that Beijing is now constantly striving to find the means of disposing of, as early as possible, the mountain of « toxic » assets which US Treasuries and Dollars have become, keeping the wealth of 1,300 billion Chinese citizens prisoner.

Teetering On The Edge Of A Flu Pandemic?
Sun May 03, 2009 at 06:52:35 AM PDT

As swine flu cases surface around the world, authorities say a pandemic may be imminent. Ira Flatow and experts discuss the current outbreak, lessons learned from the scare of 1976, and whether government restrictions could tread on individual liberties if a pandemic occurs.

From NPR
Listen Now

Guests:

Anthony Fauci, director, National Institute of Allergy and Infectious Diseases, National Institutes of Health, Bethesda, Md.

Michael Osterholm, director, Center for Infectious Disease Research and Policy, University of Minnesota, Minneapolis, Minn.

Howard Markel, professor of pediatrics and communicable diseases, director, Center for the History of Medicine, University of Michigan, Ann Arbor, Mich.

more within Kos here

World steps out of a sixty-year old referential framework

Just as in January 2007, the 11th edition of the GEAB described that the turn of the year 2006/07 was wrapped in a « statistical fog » typical of an entry into recession and designed to raise doubts among passengers that the Titanic was really sinking (1), our team today believes that the end of Spring 2009is characterized by the world’s final stepping out of the referential framework used for sixty years by global economic, financial and political players in making their decisions, in particular of its "simplified" version massively used since the fall of the communist bloc in 1989 (when the referential framework became exclusively US-centric). In practical terms, this means that the indicators that everyone is accustomed to use for investment decisions, profitability, location, partnership, etc ... have become obsolete and that it is now necessary to find new relevant indicators to avoid making disastrous decisions.

This process of obsolescence has increased dramatically over the past few months under pressure from two trends:

first, the desperate attempts to rescue the global financial system, particularly the American and British systems, have de facto "broken navigational instruments" as a result of all the manipulation exerted by financial institutions themselves and by concerned governments and central banks. Among those panic-stricken and panic-striking indicators, stock markets are a perfect case as we shall see in further detail in this issue of the GEAB. Meanwhile, the two charts below brilliantly illustrate how these desperate efforts failed to prevent the world’s bank ranking from experiencing a major seism (it is mostly in 2007 that the end of the American-British domination in this ranking was triggered).
secondly, astronomical amounts of liquidity injected in one year into the global financial system, particularly in the U.S. financial system, led all financial and political players to a total loss of touch with reality. Indeed, at this stage, they all seem to suffer from a syndrome of diver’s nitrogen narcosis – impairing those affected and leading them to dive deeper instead of surfacing. Financial nitrogen narcosis has the same effects than its aquatic counterpart.

No Frontiers, no Boundaries, No Technological Shield in Pandemics

Tue May 26, 2009 at 04:28:34 AM PDT by Snowy Owl

We can observe in the last couple of weeks an urge, an intense urge from wealthy countries that the World Health Organization declares a level 6 alert which means a World Wide Pandemic.  

The reasons are simple; wealthy Nations want their governments to implement measures in conformity with their National pandemic preparedness plan regardless of the impacts of such a declaration would impose on Poor countries, who are by the way the Huge majority of Humans of this Planet.

All experts and mainly those from the Tiny minority of wealthy and informed people of this Earth are fearfull of what will become of this virus next fall, and rightly so.  

It can indeed transform itself by merging with other more lethal viruses (For instance H5N1(bird flu virus) who is endemic in many poor countries and has a lethality of over 60%).

more here

Last update - 08:02 26/05/2009
ANALYSIS Netanyahu bringing Israel closer to war with Iran
By Aluf Benn, Haaretz Correspondent

Prime Minister Benjamin Netanyahu considers the lifting of the Iranian nuclear threat his life's mission. Before coming to power, he had mentioned that such an operation might cost thousands of lives, but the price was justified in view of the threat's severity. His comments yesterday at the meeting of Likud's Knesset faction put to rest Ariel Sharon's doctrine that Iran is not just Israel's problem but the entire world's problem, and Israel must not be at the forefront of the struggle. Israel is now at the forefront.

The leaders of Iran and Israel escalated the verbal confrontation yesterday. Mahmoud Ahmadinejad said discussions on the nuclear issue are over, which means Iran does not intend to give up enriching uranium. Netanyahu said that if Israel does not lead the defense against the Iranian threat and bring in the United States and other countries, no one else will.

In both cases, in Tehran and Jerusalem, it's possible to justify the leaders' comments by citing domestic political needs. But even if the immediate motive is domestic politics, the strategic implications cannot be ignored.

And finally GsGs from Germany on Pandemic threat-level market indicators

Here is the last post No 191 page 7

Re: Pandemic threat-level market indicators

As a whole, the Swine Flu and Bird Flu Stocks Index is up by 7.7%. It is now ahead of the S&P 500 by 36.7% over the last month.

http://www.tickerspy.com/...

some messages from flu-companies:

http://finance.yahoo.com/...
http://www.reuters.com/...
http://www.marketwatch.com/...
http://finance.yahoo.com/...
http://finance.yahoo.com/...
http://finance.yahoo.com/...
________________
I'm interested in expert panflu probability estimates

That's the View from my Igloo at the Top of the Planet.

But they are solutions, as always, we must Promote Regional Synergy cf to
Regional Economy Part I

When ?
Within 2 months.

All poor Regions will find it a bit depressive but bt promoting locals and regionals the pain should be reduce for our next harvest, if the weather is with us.

Let's get the job done together

Snowy Owl

Originally posted to Snowy Owl on Wed May 27, 2009 at 02:06 AM PDT.

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Comment Preferences

  •  Tip Jar for Locals and Regionals (3+ / 0-)
    Recommended by:
    Odysseus, Jim W, manwithnoname

    Please read, I shook Hand with the devil of Romeo Dallaire. Thank you

    by Snowy Owl on Wed May 27, 2009 at 02:07:21 AM PDT

  •  China warns Federal Reserve over 'printing money' (2+ / 0-)

    China warns Federal Reserve over 'printing money'

    China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed's direct purchase of US Treasury bonds.
    By Ambrose Evans-Pritchard
    Last Updated: 9:40AM BST 26 May 2009

    Richard Fisher, president of the Dallas Federal Reserve Bank, said: "Senior officials of the Chinese government grilled me about whether or not we are going to monetise the actions of our legislature."  "I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasuries. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States," he told the Wall Street Journal.

    His recent trip to the Far East appears to have been a stark reminder that Asia's "Confucian" culture of right action does not look kindly on the insouciant policy of printing money by Anglo-Saxons.

    Mr Fisher, the Fed's leading hawk, was a fierce opponent of the original decision to buy Treasury debt, fearing that it would lead to a blurring of the line between fiscal and monetary policy – and could all too easily degenerate into Argentine-style financing of uncontrolled spending.

    However, he agreed that the Fed was forced to take emergency action after the financial system "literally fell apart".

    Please read, I shook Hand with the devil of Romeo Dallaire. Thank you

    by Snowy Owl on Wed May 27, 2009 at 02:21:58 AM PDT

  •  Exciting stuff. (0+ / 0-)

    "Water can flow, or it can crash. Be water, my friend." -Bruce Lee

    by Troubadour on Wed May 27, 2009 at 02:22:59 AM PDT

  •  There are actually some silver linings here (4+ / 0-)
    Recommended by:
    Odysseus, fotyc, dotcommodity, Snowy Owl

    First a spike in oil prices is exactly what Obama and Waxman need to get the energy bill passed. The apparent amnesia in the general public when oil prices "sink" to $2.50 is amazing and the response to Obama's agreement to raise CAFE standards by wingnut idiots (What? My fuel efficient car will cost a bit more?) incredible.

    Second, the move to locally grown foods is a great one. It's not just economically wise (and carbon friendly) but when we can "see" the way our foods are grown, the likelihood of GMO plastic tomatoes and shrimp fed on chicken droppings goes down.

    Third, when the cost of heavy materials like steel reflects the transport cost, our steel mills in West Virginia and Pennsylvania might rise from the dead. Furniture, heavy equipment all reflect the value of transport. Even oil takes oil to bring to the US.

    Watch the Cuba issue carefully. Sugar for wheat means freeing up a bit of the corn for ethanol in select areas (admittedly, it's not a real solution nationwide.)

    Quidquid latine dictum sit, altum viditur.

    by MrMichaelMT on Wed May 27, 2009 at 04:09:32 AM PDT

    •  agree (1+ / 0-)
      Recommended by:
      Odysseus

      a spike in oil prices is exactly what Obama and Waxman need to get the energy bill passed

      I am willing to pay more for gas all summer if this will be the outcome.

      •  My thoughts exactly! (2+ / 0-)
        Recommended by:
        fotyc, Snowy Owl

        I just finished a 300+ mile drive. My spouse and I talked about our next car. A Smart Car? Well, costs 50% more, gets 30% better mileage than a 2 year old GM Avio or Ford Focus, that would offer us a little patriotism to boot. I argued for flex fuel; not a real fan of ethanol as the ultimate solution, but it forces oil companies to stop playing blackmail with us in the short term. Actually, we don't need a car right now. (We are real fans of our 4 year old JEEP and 2 year old Chrysler) But the discussion about our willingness to pay a bit more for gasoline in order to get an energy bill passed are worth emphasizing.

        Quidquid latine dictum sit, altum viditur.

        by MrMichaelMT on Wed May 27, 2009 at 12:38:42 PM PDT

        [ Parent ]

  •  Don't Monetize the Debt/Creative Destruction (1+ / 0-)
    Recommended by:
    John Minehan

    Hat Tip to Kent Nichel at Flu Trackers

    Don't Monetize the Debt/Creative Destruction

    """"the trick here is to assist the functioning of the private markets without signaling in any way, shape or form that the Federal Reserve will be party to monetizing fiscal largess, deficits or the stimulus program.""""

    """I am a big believer in Schumpeter's creative destruction. The destructive part is always painful, politically messy, it hurts like hell but you hopefully will allow the adjustments to be made so that the creative part can take place."""

    The president of the Dallas Fed on inflation risk and central bank independence.

    By MARY ANASTASIA O'GRADY

    Dallas

    From his perch high atop the palatial Dallas Federal Reserve Bank, overlooking what he calls "the most modern, efficient city in America," Richard Fisher says he is always on the lookout for rising prices. But that's not what's worrying the bank's president right now.

    His bigger concern these days would seem to be what he calls "the perception of risk" that has been created by the Fed's purchases of Treasury bonds, mortgage-backed securities and Fannie Mae paper.

    Mr. Fisher acknowledges that events in the financial markets last year required some unusual Fed action in the commercial lending market. But he says the longer-term debt, particularly the Treasurys, is making investors nervous. The looming challenge, he says, is to reassure markets that the Fed is not going to be "the handmaiden" to fiscal profligacy. "I think the trick here is to assist the functioning of the private markets without signaling in any way, shape or form that the Federal Reserve will be party to monetizing fiscal largess, deficits or the stimulus program."

    The very fact that a Fed regional bank president has to raise this issue is not very comforting. It conjures up images of Argentina. And as Mr. Fisher explains, he's not the only one worrying about it. He has just returned from a trip to China, where "senior officials of the Chinese government grill[ed] me about whether or not we are going to monetize the actions of our legislature." He adds, "I must have been asked about that a hundred times in China."

    Me transmitte sursum, caledoni Beam me up, Scotty

    by Snowy Owl on Wed May 27, 2009 at 05:36:42 AM PDT

  •  Great. A big price (0+ / 0-)

    spike will pretty much kill the recovery.

    •  The only answer is identification of the... (0+ / 0-)

      ...big players, accompanied by riots that "reach out and touch" them.

      Of course, they'll whimper that it is "just business" when calling in the law.

      The "choice" offered by capital is illusory. If you cannot afford the choice, you don't have the freedom to choose.

      by high bitrate on Wed May 27, 2009 at 07:29:44 AM PDT

      [ Parent ]

  •  For about a year now I have made (0+ / 0-)

    a trip from 50 miles sw of Fort Worth to OK, just across the Red River about 25 miles.  I started noticing how the gasoline prices changed from trip to trip.  I am in OK now.  When I came up here about 4.5 weeks ago I paid 1.899 per gallon.  This trip I have paid 2.319.

    Might and Right are always fighting, in our youth it seems exciting. Right is always nearly winning, Might can hardly keep from grinning.

    by hestal on Wed May 27, 2009 at 07:11:28 AM PDT

  •  Nah - - (0+ / 0-)

    Oil futures are already dropping.

    The number of options to sell oil at $50 a barrel for July settlement rose 22 percent last week to 24,948. ...  Oil prices are rising way ahead of reality, way ahead of fundamentals," said Eugen Weinberg, a senior commodity analyst at Commerzbank AG in Frankfurt. "It would be more reasonable for prices to drop a little and correct to $50 or below.

    http://www.bloomberg.com/...

    OPEC production cuts are being evaded.

    OPEC has yet to complete production cuts totaling 4.2 million barrels a day that the group agreed to late last year. The production ceiling is 24.845 million barrels a day for 11 of its members. Iraq has no quota.

    Those 11 nations pumped 25.81 million barrels a day in April, an increase of about 225,000 from March and the first increase in nine months, according to OPEC’s latest monthly report. That means the group has completed 77 percent of its cuts, down from a revised 82 percent for March.

    http://www.bloomberg.com/...

    And storage facilities are bursting at the seams.

    Crude inventories in the industrial economies of the Organization for Economic Cooperation and Development are at their highest since 1993, at 62 days of consumption, according to the International Energy Agency. Before OPEC’s meeting in December, members expressed concern that a level around 57 days was too high.

    http://www.bloomberg.com/...

    •  Guess the refineries gonna have to cut some more (1+ / 0-)
      Recommended by:
      johnnygunn

      Can't have that road back to $4 gasoline derailed, now can we?

      •  never ceases to amaze me ... (0+ / 0-)

        ... how so many believe that the price at the pump is directly determined by the price of a barrel of crude. it's not directly true: a one-to-one correlation between barrel price (crude) and wholesale gasoline price (manufactured supply) does not exist.

        it's clear enough that retail gasoline supply is a narrowly oligopolistic marketplace. as such, the sellers, without directly communicating, will continue to try to wring out of the marketplace the maximum price for maximized profit. the cost of crude may determine whether the model is at all profitable (it is), but the sellers, until somebody blinks, will try to control their profit margin by regulating supply by controlling refinery through-put. they'll keep raising price until we glut their storage facilities.

        so many seem to believe that pricing is (or even can be) done in altruistic fashion ... projections of cost of production plus cost of raw materials plus a reasonable profit is NOT the way market price is established ... market price is determined simply by supply and demand

        R.I.P. Chicago Eddie Schwartz (May 5, 1946 - February 4, 2009)

        by wystler on Wed May 27, 2009 at 08:31:55 AM PDT

        [ Parent ]

  •  A diary posted early this morning (1+ / 0-)
    Recommended by:
    Snowy Owl

    "As the watchmen cannot be seen, they need not be on duty at all times, effectively leaving the watching to the watched." Jeremy Bentham

    by sceptical observer on Wed May 27, 2009 at 08:01:35 AM PDT

  •  Please edit the diary to put this material (0+ / 0-)

    that you copied from NPR in blockquotes:

    Teetering On The Edge Of A Flu Pandemic?
    Sun May 03, 2009 at 06:52:35 AM PDT

    As swine flu cases surface around the world, authorities say a pandemic may be imminent. Ira Flatow and experts discuss the current outbreak, lessons learned from the scare of 1976, and whether government restrictions could tread on individual liberties if a pandemic occurs.

    Listen Now

    Guests:

    Anthony Fauci, director, National Institute of Allergy and Infectious Diseases, National Institutes of Health, Bethesda, Md.

    Michael Osterholm, director, Center for Infectious Disease Research and Policy, University of Minnesota, Minneapolis, Minn.

    Howard Markel, professor of pediatrics and communicable diseases, director, Center for the History of Medicine, University of Michigan, Ann Arbor, Mich.

    For at least the third time, please put all material that you copied from another source in blockquotes, per the FAQ. Do that in diaries and do that in comments. You need to do it besides mentioning or linking to a source.

    •  Sorry but I really do not understand (0+ / 0-)

      what you just ask me

      With Respect

      Snowy

      Me transmitte sursum, caledoni Beam me up, Scotty

      by Snowy Owl on Wed May 27, 2009 at 04:45:48 PM PDT

      [ Parent ]

      •  But you did it! You edited the diary and put (0+ / 0-)

        the material that you'd copied from NPR inside a blockquote. You didn't have that material in a blockquote when you first posted the diary. (You could have put the title and date in a blockquote too, as I did in my comment, but that's  minor.)

        I don't understand what you don't understand. Whenever you post any material that you are not the original writer of, you need to put it inside a blockquote--as well as mentioning or linking to the source.

        •  Rita from DC I am French Quebecois (0+ / 0-)

          And my understanding or the rightiousness of your message obviously differs from yours.

          But I do believe when in Rome do as Romans Do.

          So, please be patient, I am geting there and your instructions help me be more unviversal in British than ever before, thank you sincerely for that but please remember I speak many languages, understand more of those I speak and Englsih is not even my second language, that is my problem.

          I am just an Humanitarian doing its best with the tolerance, patience and constance of people like you.

          But please be patient.

          Thank you]
          Snowy

          Me transmitte sursum, caledoni Beam me up, Scotty

          by Snowy Owl on Wed May 27, 2009 at 06:54:57 PM PDT

          [ Parent ]

  •  The Bilderberg Plan for 2009: Remaking the Global (0+ / 0-)

    The Bilderberg Plan for 2009: Remaking the Global Political Economy

    The Agenda: The Restructuring of the Global Political Economy

    Before the meeting began, Bilderberg investigative journalist Daniel Estulin reported on the main item of the agenda, which was leaked to him by his sources inside. Though such reports cannot be verified, his sources, along with those of veteran Bilderberg tracker, Jim Tucker, have proven to be shockingly accurate in the past. Apparently, the main topic of discussion at this year's meeting was to address the economic crisis, in terms of undertaking, "Either a prolonged, agonizing depression that dooms the world to decades of stagnation, decline and poverty ... or an intense-but-shorter depression that paves the way for a new sustainable economic world order, with less sovereignty but more efficiency." Other items on the agenda included a plan to "continue to deceive millions of savers and investors who believe the hype about the supposed up-turn in the economy. They are about to be set up for massive losses and searing financial pain in the months ahead," and "There will be a final push for the enactment of Lisbon Treaty, pending on Irish voting YES on the treaty in Sept or October,"[1] which would give the European Union massive powers over its member nations, essentially making it a supranational regional government, with each country relegated to more of a provincial status.

    Shortly after the meetings began, Bilderberg tracker Jim Tucker reported that his inside sources revealed that the group has on its agenda, "the plan for a global department of health, a global treasury and a shortened depression rather than a longer economic downturn." Tucker reported that Swedish Foreign Minister and former Prime Minister, Carl Bildt, "Made a speech advocating turning the World Health Organization into a world department of health, advocating turning the IMF into a world department of treasury, both of course under the auspices of the United Nations." Further, Tucker reported that, "Treasury Secretary Geithner and Carl Bildt touted a shorter recession not a 10-year recession ... partly because a 10 year recession would damage Bilderberg industrialists themselves, as much as they want to have a global department of labor and a global department of treasury, they still like making money and such a long recession would cost them big bucks industrially because nobody is buying their toys.....the tilt is towards keeping it short."[2]

    After the meetings finished, Daniel Estulin reported that, "One of Bilderberg’s primary concerns according to Estulin is the danger that their zeal to reshape the world by engineering chaos in order to implement their long term agenda could cause the situation to spiral out of control and eventually lead to a scenario where Bilderberg and the global elite in general are overwhelmed by events and end up losing their control over the planet."[3]

    more Here

    Me transmitte sursum, caledoni Beam me up, Scotty

    by Snowy Owl on Wed May 27, 2009 at 05:45:59 PM PDT

  •  Bilderberg’s Plan in Action? (0+ / 0-)

    Reorganizing the Federal Reserve

    Following the Bilderberg meeting, there were several interesting announcements made by key participants, specifically in regards to Reorganizing the Federal Reserve.

    On May 21, it was reported that US Treasury Secretary Timothy Geithner "is believed to be leaning heavily towards giving the Federal Reserve a central role in future regulation," and "it is understood that the Fed would take on some of the work currently undertaken by the US Securities and Exchange Commission."[11]

    On Wednesday, May 20, Geithner spoke before the Senate Banking Committee, at which he stated that, "there are important indications that our financial system is starting to heal." In regards to regulating the financial system, Geithner stated that, "we must ensure that international rules for financial regulation are consistent with the high standards we will be implementing in the United States."[12]

    [11] James Quinn, Tim Geithner to reform US financial regulation. The Telegraph: May 21, 2009:
    http://www.telegraph.co.uk/...
    5359527Tim-Geithner-to-reform-US-financial-regulation.html

    [12] Greg Menges, U. S. Secretary of the Treasury Timothy F. Geithner speech before the Senate Banking Committee. Examiner: May 20, 2009:
    http://www.examiner.com/...
    5d20-U-S-Secretary-of-the-Treasury-Timothy-F-Geithner-speech-before-the-Senate-Banking-Committee

    Snowy Owl

    BTW the whole article is worth reading,

    Snowy

    Me transmitte sursum, caledoni Beam me up, Scotty

    by Snowy Owl on Wed May 27, 2009 at 06:59:00 PM PDT

  •  News Alert 9:07 p.m. ET Wednesday, May 27, 2009 (0+ / 0-)

    News Alert
    9:07 p.m. ET Wednesday, May 27, 2009

    Wake up my friends

    Snowy

    U.S. Discussing Creation of New Agency to Regulate All Banks

    Senior administration officials are considering the creation of a single agency to regulate the banking industry, replacing a regulatory patchwork that failed to prevent banks from falling into the worst financial crisis since the Great Depression, according to three people familiar with the matter.

    The agency would be a key element in a sweeping administration plan to overhaul financial regulation, which officials hope to unveil in the next few weeks, including the creation of a new authority to police risks to the financial system and a new agency to protect consumers, the sources said.

    For more information, visit washingtonpost.com

    Me transmitte sursum, caledoni Beam me up, Scotty

    by Snowy Owl on Wed May 27, 2009 at 07:13:36 PM PDT

  •  Financial Times (0+ / 0-)

    Creating a Central Bank of the World
    http://www.nytimes.com/...

    Jeffrey Garten, Undersecretary of Commerce for International Trade in the Clinton administration, former Dean of the Yale School of Management, previously served on the White House Council on International Economic Policy under the Nixon administration and on the policy planning staffs of Secretaries of State Henry Kissinger and Cyrus Vance of the Ford and Carter administrations. He also was a managing director of Lehman Brothers and the Blackstone Group, is also a member of the Council on Foreign Relations. As early as 1998, Garten wrote an article for the New York Times in which he advocated the creation of a global central bank.[39]

    Wake up neibordsl, you are presently dizzy by so many events.

    Snowy

    Amid the current financial crisis, Garten wrote an article for the Financial Times in which he advocated for "the establishment of a Global Monetary Authority to oversee markets that have become borderless," acting as a global central bank.[40] In late October, Garten wrote an article for Newsweek in which he said that world "leaders should begin laying the groundwork for establishing a global central bank."[41]

    Three days after the publication of Garten’s Newsweek article, it was reported that, "The International Monetary Fund may soon lack the money to bail out an ever growing list of countries crumbling across Eastern Europe, Latin America, Africa, and parts of Asia, raising concerns that it will have to tap taxpayers in Western countries for a capital infusion or resort to the nuclear option of printing its own money." Further, "The nuclear option is to print money by issuing Special Drawing Rights, in effect acting as if it were the world's central bank."[42]

    [For a detailed look at the moves to create a global central bank, regional currencies, a global reserve currency and a world governing body, see: Andrew G. Marshall, The Financial New World Order: Towards a Global Currency and World Government: Global Research, April 6, 2009]

    Me transmitte sursum, caledoni Beam me up, Scotty

    by Snowy Owl on Wed May 27, 2009 at 07:29:38 PM PDT

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