mizou
21st February 2009, 22:41
I wonder how these proposals are going to play out?
Are the various proposals being brought to the table, be the very catalyst for the next great world conflict?
PUTIN STOLE THE SHOW (http://news.goldseek.com/GoldenJackass/1235063702.php)
The Russians realized the vacuum of banking and political leadership. Vladimir Putin took the high road actually. His criticism of the US failure and corruption was implied. He let the decimation of Wall Street firms, their colossal losses, and their calamitous fall from grace speak for themselves. He would not permit anyone in attendance to yack about how Putin droned on and on about US failure. Failure is painfully obvious for almost all to see. He skipped over much direct criticism to offer solutions, a sign of leadership. No, Putin was the only bright spot in Davos. Putin offered a Blueprint for the next decade, for the ‘Post-US World’ where the US-UK corrupt tag team does not control the helm or sit at the catbird seat. Vladimir Putin and Dmitry Medvedev served as dominant figures over a gloomy forum. A Putin spokesman actually told reporters “This is Davos under the Russian flag.” More accurately, the Davos Forum gave Russia, and to some extent China, a chance to exert leadership....
PUTIN RECOMMENDATIONS
.....Putin was specific in key areas. He did not lay out many details to flesh out his planks. He kept some close to his vest. The barter accords are a work in progress, actually a revolutionary shift. He was not going to offer up details of his ‘End Run’ plans. But he offered four main recommendations that make a great deal of sense, a starting point:
1) Get real and declare hopeless debt securities as bad assets, and write them off. The current crisis will only be prolonged unless the balance sheets are cleaned up. A liquidation process is essential. (The refusal for banks to come clean has resulted in extreme constipation for the credit system, while the patient slowly falls into mud.)
2) Get rid of virtual money, exaggerated reports, and dubious credit ratings on financial securities. He wishes for fundamental asset values to be determined by the ability to generate added value, apart from subjective models. (He refers indirectly to credit derivatives and futures contracts, the artificial mechanisms to control price structures, those onerous devices that act as pseudo-money.)
3) Get away from the single reserve currency system, which he regards as dangerous. Instead, install several strong reserve currencies in a smooth and irreversible switch. (This is the unofficial death knell of the USDollar itself, for alternatives in usage.)
4) Get currency reliability for foreign reserves management, which can be used by other states. This can be achieved by enabling more open monetary policies, and enforcing economic and financial discipline. (This will enable regional stability and cooperation.)
Are the various proposals being brought to the table, be the very catalyst for the next great world conflict?
PUTIN STOLE THE SHOW (http://news.goldseek.com/GoldenJackass/1235063702.php)
The Russians realized the vacuum of banking and political leadership. Vladimir Putin took the high road actually. His criticism of the US failure and corruption was implied. He let the decimation of Wall Street firms, their colossal losses, and their calamitous fall from grace speak for themselves. He would not permit anyone in attendance to yack about how Putin droned on and on about US failure. Failure is painfully obvious for almost all to see. He skipped over much direct criticism to offer solutions, a sign of leadership. No, Putin was the only bright spot in Davos. Putin offered a Blueprint for the next decade, for the ‘Post-US World’ where the US-UK corrupt tag team does not control the helm or sit at the catbird seat. Vladimir Putin and Dmitry Medvedev served as dominant figures over a gloomy forum. A Putin spokesman actually told reporters “This is Davos under the Russian flag.” More accurately, the Davos Forum gave Russia, and to some extent China, a chance to exert leadership....
PUTIN RECOMMENDATIONS
.....Putin was specific in key areas. He did not lay out many details to flesh out his planks. He kept some close to his vest. The barter accords are a work in progress, actually a revolutionary shift. He was not going to offer up details of his ‘End Run’ plans. But he offered four main recommendations that make a great deal of sense, a starting point:
1) Get real and declare hopeless debt securities as bad assets, and write them off. The current crisis will only be prolonged unless the balance sheets are cleaned up. A liquidation process is essential. (The refusal for banks to come clean has resulted in extreme constipation for the credit system, while the patient slowly falls into mud.)
2) Get rid of virtual money, exaggerated reports, and dubious credit ratings on financial securities. He wishes for fundamental asset values to be determined by the ability to generate added value, apart from subjective models. (He refers indirectly to credit derivatives and futures contracts, the artificial mechanisms to control price structures, those onerous devices that act as pseudo-money.)
3) Get away from the single reserve currency system, which he regards as dangerous. Instead, install several strong reserve currencies in a smooth and irreversible switch. (This is the unofficial death knell of the USDollar itself, for alternatives in usage.)
4) Get currency reliability for foreign reserves management, which can be used by other states. This can be achieved by enabling more open monetary policies, and enforcing economic and financial discipline. (This will enable regional stability and cooperation.)