Right On The Money

Robert MorleyColumnist

Right on the Money

October 20, 2009 | From theTrumpet.com

Do you remember the following words? They are coming true before your eyes today!

Robert Morley

“Can you realize how fast events are happening in the world?

“You have seen that the U.S. dollar—long thought of as the stablest currency in the world—is in immediate jeopardy of being devalued!

“That means that it will take you more dollars to buy the same amount of imported goods. If the dollar is devalued, inflation will almost surely result—and eventual economic collapse for the United States.

“Those of you who truly believe the prophecies of your Bible know such economic collapse is prophesied to happen!

“And now, in almost daily news, comes the frightening development of a rush on gold …. What does this all mean? It means that at any time now, you could suddenly awake to find you have only about half the ‘money’ you thought you possessed—or that your purchasing power has been drastically reduced, overnight!

“Should the dollar collapse, it could well mean a repetition of the disastrous depression that strangled the economic world in 1929!

“The final crisis is fast descending upon us.”

Click here for entire Trumpet article

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Europe Speaks With One Voice On Financial Reform Ahead Of Pittsburgh G20 Summit

"Europe is going united to Pittsburgh with a clear and strong message: We don't want this to ever happen again," French President Nicolas Sarkozy said.

"It will be the task of those who go to Pittsburgh to convince our American friends that we have to get the international finance community to accept new rules of behavior," Luxembourg Prime Minister and Eurogroup head Jean-Claude Juncker told German public radio.

Disagreement over Tobin tax proposal

But there was some disagreement from the 27 EU members over proposals by Germany to levy a global tax on financial transactions that could act as a buffer against future economic setbacks.

Click here for entire DW article

And everybody pays. Global Governance issues are moving. Stay ahead and prepared by subscribing to the monthly newsletter today! - Johnny

Germany Wants Global Tax On All Financial Markets - Idea To Be Pushed In Pittsburgh G20 Summit

UPDATE 1-Germany's SPD Woos Left With Tax On Financial Deals

Fri Sep 11, 2009 10:00am EDT

* SPD unveils plan to tax financial transactions

* Step could be aimed at wooing left-wing voters

By Hans Busemann

BERLIN, Sept 11 (Reuters) - Germany's Social Democrats (SPD) have unveiled plans to push for a global tax on financial market transactions, in an apparent attempt to win over left-leaning voters weeks before election polls suggest they will lose.

In a paper by SPD chancellor candidate Frank-Walter Steinmeier and Finance Minister Peer Steinbrueck, the party outlines steps to make banks bear some of the costs of the economic crisis.

Click here for entire article

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Steinbrück Seeks Global Tax

By Bertrand Benoit in Berlin , Financial Times, 11 Sep 2009

Germany's finance minister has called for a global tax to be imposed on financial transactions in an effort to end what he derided as "binge-drinking" on markets.

In one of the more radical steps mooted by a world leader to reform the financial system, Peer Steinbrück said receipts from the tax would be used to repay the cost to governments of tackling the crisis, including fiscal stimuli and bank rescue operations.

Click here for entire article


For timely understanding on Global Governance issues such as this subscribe to the monthly newsletter today! - Johnny

World Economic Forum Summer Davos 2009 Dalian, China

***REMEMBER***

#1. REASON TO SAY NO TO GLOBAL GOVERNANCE:

Global Central Bank corruption, fraud and abuse with no accountability

***

Switzerland Number 1

United States Number 2


Old Models Must Change For Economic Recovery To Be Sustainable

Switzerland tops the overall ranking in The Global Competitiveness Report 2009-2010.

The United States falls one place to second position, with weakening in its financial markets and macroeconomic stability. Singapore, Sweden and Denmark round out the top five.

European economies continue to prevail in the top 10 with Finland, Germany and the Netherlands following suit.

The United Kingdom, while remaining very competitive, has continued its fall from last year, moving down one more place this year to 13th, mainly attributable to continuing weakening of its financial markets.

The rankings are calculated from both publicly available data and the Executive Opinion Survey, a comprehensive annual survey conducted by the World Economic Forum together with its network of Partner Institutes (leading research institutes and business organizations) in the countries covered by the Report.

Download full report here

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China Journal

How China is changing - and changing the world

• From Kobe With Love
• 
  

• September 13, 2009, 11:06 AM ET

Dollar Gets Roughed Up In Unusually Heated World Economic Forum Panel

Among the more interesting moments of the World Economic Forum that wrapped up Saturday in Dalian occurred on the final morning, when a panel on Asia’s foreign-currency exposure turned into an unusually contentious discussion on the future of the U.S. dollar.

In front of CNBC cameras, Yu Yongding, an academic who was formerly an advisor to the Chinese central bank, got the discussion off on a decidedly bearish tone for the dollar, with strong criticism of public finances in the U.S.

“The U.S. has been running a current account deficit for more than 26 years now, and they are accumulating huge foreign debt, and now they are running huge budget deficits. According to very optimistic estimations, within ten years, they will continue to run budget deficits,” he said.

Yu said he strongly supports a proposal by People’s Bank of China Governor Zhou Xiaochuan to develop of a new international reserve currency based on Special Drawing Rights, a kind of synthetic currency created by the International Monetary Fund in the 1960s. But he acknowledged that the SDR cannot replace the US dollar “at this stage.”

Click here to read entire Wall Street Journal article

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World Economic Forum Competiveness Report drops US to #2

September 9, 8:26 AM

San Diego Economy Examiner

Mark Vargus

The World Economic Forum has produced a new study on the competitiveness of each of the worlds many nations. This report is available as a nearly 500 page pdf file, and shows some surprising elements as they downgraded the US from the most competitive economy in the world to second behind Switzerland.

And competitiveness is important as the report writer notes in the first pages as he writes:

Competitive economies are those that have in place factors driving the productivity enhancements on which their present and future prosperity is built.

And this has been the great advantage the US has maintained in the economic world and part of why the US economy is bigger than the combined economies of Japan and China (the nations with the #2 and #3 economies by annual GDP). Actually you could add in Germany (#4) and the UK and only barely beat the US. But the report indicates that the economists of the World Economic Forum are worried about the situation in the US.

Their analysis is simple, but elegant and they note:

We define competitiveness as the set of institutions, policies, and factors that determine the level of productivity of a country. The level of productivity, in turn, sets the sustainable level of prosperity that can be earned by an economy.

It’s a good point. And plays into the analysis.

Click here for entire San Diego Economy Examiner article

Easily formulate and understand Global Governance issues like by subscribing to the monthly newsletter. Understand Today For Tomorrows Decisions - Johnny

Global World Currency: Will The Dollar Finally R.I.P. Its World Status? Will Bible Prophecy See The First Of The Big Three's ?

Global Governance

Global Unified Belief System

Would Soon Follow

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A New Economic Order? - I Bet Your Life

Free market ideology melts down

China's stock market tumbles.

by Dean Baker

The near collapse of the world banking system and the internationally coordinated government rescue should put to end illusions about the unfettered market. Over the last three decades there has been an enormous upward redistribution of income in the United States and many other countries. This redistribution of income was justified as being the result of the efficient working of the free market. After this massive government intervention to rescue the banks from their own actions, such claims are no longer plausible.

World Bank, Under Robert Zoellick, Hacker Attempts For A Year Adds To Fear

World Bank Under Cyber Siege in 'Unprecedented Crisis'

Friday, October 10, 2008

By Richard Behar

The World Bank Group's computer network — one of the largest repositories of sensitive data about the economies of every nation — has been raided repeatedly by outsiders for more than a year, FOX News has learned.

It is still not known how much information was stolen. But sources inside the bank confirm that servers in the institution's highly-restricted treasury unit were deeply penetrated with spy software last April. Invaders also had full access to the rest of the bank's network for nearly a month in June and July.

Banking Wars Of Global Governance: Banking With Hitler

Part 1



Part 2


Part 3


Part 4


Part 5

The #1 Reason To Say No To Global Governance: Global Central Bank Corruption, Fraud And Abuse With No Accountability

As Catherine Austin Fitts Has Said, Echoed By Michael Ruppert, Aaron Russo, Ron Paul, Myself and Others, Until America Changes The Way Money Works, You CHANGE Nothing! Abolishing The Federal Reserve Is How You Cut The Head Off This Beast! There's Still Time. Start Asking Them The Right Questions! - Johnny

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Global Financial Crisis: Does The World Need A New Banking 'Policeman'?

With war raging across the globe in July 1944, ministers from all 44 Allied nations met at the imposing Mount Washington Hotel in Bretton Woods, New Hampshire, to thrash out a set of rules that would govern world finance once Hitler was defeated.

By Gordon Rayner, Chief Reporter
Last Updated: 1:36AM BST 08 Oct 2008

Knowing that greater international trade would help to prevent future wars, and determined to avoid another Great Depression, the delegates signed the Bretton Woods Agreements, creating the International Monetary Fund and the World Bank. It was a big vision, driven by grand historical figures: Winston Churchill, Franklin D Roosevelt and the British economist John Maynard Keynes.

But a system that was designed 64 years ago has, not surprisingly, proved ill equipped to deal with the fiendishly complex practices of 21st-century banking that led to the current worldwide crisis.

Click For Entire Article

The Global Economic Landscape Will Never Look The Same Again

From the Telegraph.co.uk
Hard times: central banks have acted to avoid a repeat of 1929

Financial Crisis: Default By The US Government Is No Longer Unthinkable

By Liam Halligan

Last Updated: 11:48am BST 21/09/2008

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Have your say Read comments

So, here we are - the start of a new world order. After the tumultuous events of the last fortnight, the global economic landscape will never look the same again.