[pogoliamo]

$this->bbcode_second_pass_quote('', '[')b]Trichet Calls for Return to the `Discipline' of Bretton Woods
Oct. 15 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said officials reshaping the world's financial system should try to return to the ``discipline'' that governed markets in the decades after World War II.
"Perhaps what we need is to go back to the first Bretton Woods, to go back to discipline,'' Trichet said after giving a speech at the Economic Club of New York yesterday. "It's absolutely clear that financial markets need discipline: macroeconomic discipline, monetary discipline, market discipline.''
Brown, who has pushed for a decade to strengthen the hand of international authorities overseeing the financial system, said Oct. 13 in London that ``we must devise new rules for a world of global capital flows'' just as the founders of Bretton Woods ``devised rules for a world of limited capital flows.

[pogoliamo]

Just few months ago Le Predisdent Sarkozy was saying it was all parfume and roses. Today - Lets Revamp The System!
$this->bbcode_second_pass_quote('', '[')b]EU Pushes for Overhaul of Post-World War II Financial System By James G. Neuger and Mark Deen
Oct. 16 (Bloomberg) -- European Union leaders pressed for an overhaul of the global financial system to prevent a repeat of the credit crunch that sparked the biggest stock-market selloff since the Great Depression.

EU leaders called for a global summit as soon as next month to rewrite the 1944 Bretton Woods accord that paved the way for Europe's post-World War II reconstruction and set up the institutions that oversee the world economy today.

"We had the emerging market crisis, we had the Internet bubble, now we have this massive crisis,'' French President Nicolas Sarkozy told reporters after chairing the first session of an EU summit late yesterday in Brussels. Europe insists on the ``re-foundation of the international financial system.''

[wisconsin_cur]

What I do not understand is how this would work. We have a lot more players that would need to be at the table presently than at any other time in history. Each with their own set of priorities and interests to protect. What kind of agreement could we come up with now that we cannot just have a few very similar countries get together, make rules and then force everyone else to play by them.

Who would need to be at the table:

Britain, France, Germany, Russia, China, Japan, India, OPEC, United States. Perhaps some representative of Africa and South America?

that would seem to me to be the short-list.

[mattduke]

For those who are unfamiliar, the post WWII Bretton Woods agreement was a psuedo gold standard, whereby the dollar was a receipt for gold, and other major currencies were receipts for dollars. Thus we had fixed exchange ratios. The little guy could not cash in for gold. Of course every government ended up printing more receipts than they had reserves, and then France started cashing in all their dollars for gold, and that game was over.

Probably what they are working towards is a transnational reserve currency based on gold like IMF SDR's. Countries would then "peg" to that in a Bretton Woods fashion. That would be a major step forward towards a single transnational fiat reserve currency: the ultimate political power.
link

[pogoliamo]

Indians will be freely buying and selling gold coins. These are the first steps back to the gold standard.

Post offices start selling gold coins

Wed, Oct 15 03:35 PM

New Delhi, Oct 15 (ANI): Post Offices have started selling 24-carat gold coins from today. The coins will be available in over 100 India Post outlets in Delhi, Tamil Nadu, Maharashtra and Gujarat in the pilot phase.

link

[wisconsin_cur]

Bloomberg: Asia backs Sarkozy's call for revamping financial system
$this->bbcode_second_pass_quote('', ' ')By Jennifer M. Freedman and Jonathan Stearns
Oct. 25 (Bloomberg) -- Asian and European leaders called for an overhaul of global banking rules that date to World War II, lending support to French President Nicolas Sarkozy as he presses the U.S. to join an effort to resolve the financial crisis.

The heads of state and government "pledged to undertake effective and comprehensive reform of the international monetary and financial systems,'' according to a statement released at a meeting in Beijing that ended today. Chinese Premier Wen Jiabao told a press conference after the gathering of more than 40 Asian and European Union leaders that "we need even more financial regulation to ensure financial safety.''

The two-day summit was the first meeting of Asian and EU chiefs since calls for coordinated action mounted along with bank failures and plunging stock prices that began last month. The U.S. will host the Group of 20 industrialized and developing nations on Nov. 15 at the urging of Sarkozy.

South Korea said it "highly valued'' Sarkozy's "strong leadership.'' The French president has compared the effort to the 1944 Bretton Woods conference in New Hampshire that fixed exchange rates, hitched the world to the gold standard and created the International Monetary Fund and World Bank.

The EU has floated the ideas of including more bank supervision, stricter regulation of hedge funds, new rules for credit-rating companies and changes at the IMF.

'Falling Behind'
"The IMF, World Bank and other agencies are falling behind the times,'' said Jeon Hyochan, a researcher at Samsung Economic Research Institute in Seoul. "The agencies need to strengthen their ability to take pre-emptive measures.''

[dorlomin]

This is not really the time for fixing the exchange rates, the economies are in so much flux that there needs to be a market to price them. Today economies are far more volatile than they were when Bretton Woods I failed or the ERM was attacked and destroyed. Also the US dollar was able to act as a global reserve currency, replacing the pound in that role in the long term. Now no currency is able to do that.

[wisconsin_cur]

$this->bbcode_second_pass_quote('dorlomin', 'T')his is not really the time for fixing the exchange rates, the economies are in so much flux that there needs to be a market to price them. Today economies are far more volatile than they were when Bretton Woods I failed or the ERM was attacked and destroyed. Also the US dollar was able to act as a global reserve currency, replacing the pound in that role in the long term. Now no currency is able to do that.

[Micki]

$this->bbcode_second_pass_quote('dorlomin', 'T')his is not really the time for fixing the exchange rates, the economies are in so much flux that there needs to be a market to price them. Today economies are far more volatile than they were when Bretton Woods I failed or the ERM was attacked and destroyed. Also the US dollar was able to act as a global reserve currency, replacing the pound in that role in the long term. Now no currency is able to do that.

[threadbear]

$this->bbcode_second_pass_quote('Micki', '')$this->bbcode_second_pass_quote('dorlomin', 'T')his is not really the time for fixing the exchange rates, the economies are in so much flux that there needs to be a market to price them. Today economies are far more volatile than they were when Bretton Woods I failed or the ERM was attacked and destroyed. Also the US dollar was able to act as a global reserve currency, replacing the pound in that role in the long term. Now no currency is able to do that.

[Micki]

$this->bbcode_second_pass_quote('threadbear', '')$this->bbcode_second_pass_quote('Micki', '')$this->bbcode_second_pass_quote('dorlomin', 'T')his is not really the time for fixing the exchange rates, the economies are in so much flux that there needs to be a market to price them. Today economies are far more volatile than they were when Bretton Woods I failed or the ERM was attacked and destroyed. Also the US dollar was able to act as a global reserve currency, replacing the pound in that role in the long term. Now no currency is able to do that.

[SweetSmellofMoney]

$this->bbcode_second_pass_quote('pogoliamo', '')$this->bbcode_second_pass_quote('', '[')b]Trichet Calls for Return to the `Discipline' of Bretton Woods
Oct. 15 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said officials reshaping the world's financial system should try to return to the "discipline'' that governed markets in the decades after World War II.
"Perhaps what we need is to go back to the first Bretton Woods, to go back to discipline,'' Trichet said after giving a speech at the Economic Club of New York yesterday. "It's absolutely clear that financial markets need discipline: macroeconomic discipline, monetary discipline, market discipline.''
Brown, who has pushed for a decade to strengthen the hand of international authorities overseeing the financial system, said Oct. 13 in London that "we must devise new rules for a world of global capital flows'' just as the founders of Bretton Woods ``devised rules for a world of limited capital flows.

[pogoliamo]

$this->bbcode_second_pass_quote('SweetSmellofMoney', '[')u]Its called Mass Distraction! You confuse everyone to the point that the Global Player are no longer interested in cooperation but rather indoctination rather than dealing with the problems at hand!
What are the problems at hand, first the BIS, IMF and WB are not in line with Globalization.
Second, China's refusal to join the Global Currencies.
Third, The overall lack of tranparency amoung nations states.
Fourth, in a rush to expand the EU lost focus of where its needed to be and absorbed many nations which were corrupt to start with.
Finally, the WTO must revisit China and the rest of the nations members in order to find a solution to counterfeiting and an overall disregard for IP protections.
These are but a few very important points of interest, before Bretton Woods can be revisited!

[SweetSmellofMoney]

$this->bbcode_second_pass_quote('pogoliamo', '')$this->bbcode_second_pass_quote('SweetSmellofMoney', '[')u]Its called Mass Distraction! You confuse everyone to the point that the Global Player are no longer interested in cooperation but rather indoctination rather than dealing with the problems at hand!
What are the problems at hand, first the BIS, IMF and WB are not in line with Globalization.
Second, China's refusal to join the Global Currencies.
Third, The overall lack of tranparency amoung nations states.
Fourth, in a rush to expand the EU lost focus of where its needed to be and absorbed many nations which were corrupt to start with.
Finally, the WTO must revisit China and the rest of the nations members in order to find a solution to counterfeiting and an overall disregard for IP protections.
These are but a few very important points of interest, before Bretton Woods can be revisited!

[SweetSmellofMoney]

$this->bbcode_second_pass_quote('pogoliamo', '')$this->bbcode_second_pass_quote('', '[')b]Trichet Calls for Return to the `Discipline' of Bretton Woods
Oct. 15 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said officials reshaping the world's financial system should try to return to the "discipline'' that governed markets in the decades after World War II.
"Perhaps what we need is to go back to the first Bretton Woods, to go back to discipline,'' Trichet said after giving a speech at the Economic Club of New York yesterday. "It's absolutely clear that financial markets need discipline: macroeconomic discipline, monetary discipline, market discipline.''
Brown, who has pushed for a decade to strengthen the hand of international authorities overseeing the financial system, said Oct. 13 in London that ``we must devise new rules for a world of global capital flows'' just as the founders of Bretton Woods ``devised rules for a world of limited capital flows.

[pogoliamo]

LONDON/HONG KONG, Nov 5 (Reuters) - World leaders urged U.S. President-elect Barack Obama on Wednesday to help build a new economic order and lead the globe out of its worst financial crisis since the 1930s.

Excitement about the historic election of Democrat Obama as the first black U.S. President was tempered by an awareness of the challenges he faces as the world's biggest economy heads towards recession.

"We need to change the current crisis into a new opportunity. We need a new deal for a new world. I sincerely hope that with the leadership of President Obama, the United States of America will join forces with Europe to drive this new deal," said European Commission President Jose Manuel Barroso.

link