ctophil;
evidently no one bothered to listen to the vid t the very end...
The last sentence
here being:
"Europe wants to present a blueprint for a new world wide currency system."
This is what the French President, and EU officials are hammering Bush about at Camp David today.
The idea that the US Dollar is the "world currency" is a laughable joke.. only about 20 years behind the times. It's orthless paper, and people in the world are tired of pretending it isn't.
From:
http://news.ninemsn.com.au/article.aspx?id=648580
Quote:
Calls for a new global financial system have mounted as stocks plunged and Switzerland leapt to the defence of its prized banks with a $US60 billion ($A92 billion) package for UBS.
Amid mounting recession fears, Wall Street and Europe's main stock markets all fell after the Tokyo exchange suffered its worst loss for two decades, closing down 11.4 per cent. An emergency summit of the Group of Eight wealthy powers is expected in November and President Nicolas Sarkozy of France said he would press European calls for major reform of the financial system when he meets US President George W Bush this weekend.- "We do not have the right to miss this opportunity for reconstructing our system of finance in the 21st century," Sarkozy said at the end of a two-day EU summit in Brussels.
- "I really do want to raise the question of the future of the IMF and its role," he said ahead of talks at the US presidential retreat at Camp David, Maryland on Saturday.
Brown has predicted an announcement within days on a G8 meeting with emerging economic powers such as China, India and Brazil that could order "very radical changes". EU leaders demanded greater oversight in Europe after the financial turmoil forced them to commit more than 1.8 trillion euros ($A3.72 trillion) to banks and the money markets.
The 27 EU leaders said they would set up a financial crisis cell to act as an early warning system and revived plans to strengthen Europe-wide supervision of cross-border finance groups. Switzerland was forced to take emergency measures to prop up its key banking sector, pouring almost $US60 billion ($A92 billion) into the biggest bank UBS, one of the heaviest losers from the US subprime mortgage crisis. The federal state will take a 9.3 per cent stake in UBS. The second-biggest Swiss bank Credit Suisse turned to a group of investors for 10 billion francs ($A13.5 billion) in new capital. The biggest participant is a Qatari sovereign wealth fund.
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What it looks like is the EU, using Sarkozy, since he is the one most likely to get it through bush's thick skull, is prepared to either create a new monetary standard which will be based on some new currency, or the EU will circle the wagons and just let us fall.
Quote:
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Brown has predicted an announcement within days on a G8 meeting with emerging economic powers such as China, India and Brazil that could order "very radical changes".
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Look for a couple of Bush TV spots, one before, one after, both beginning with something like "it's with a heavy heart..."... any bets theres a
bank holiday thrown in for good measure? "Just to help us through this difficult transition".
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If they pull this one off, it will seal this country's path to 3rd world status, methinks.