Log In | Register
Europe's Been Onto Something … While the US gently weeps
The EU region calling for a 'G8 + India & China' conference to thrash out this global monetary issue - and has been twisting the knife in the reluctant US side. The US has been dragging its feet. While the EU has been going gung-ho on this, the US has been floating many trial balloons.
Warren Buffet, Paul Volcker and Lawrence Summers have been co-opted by the President-elect of the US - Barack Obama. There has been talk of a manipulation in bullion prices - which may be required for re-anchoring currencies. Interesting deals - considered impossible till a few years, are being done in a tearing hurry.
Europe would obviously like to break the dollar hegemony - and muscle into the racket. They know the Third World-Russia-China are not prepared.
And what do Europeans want - some seats at the global regulatory table, to force US moneybags (for now) and others to seek approvals, which will come at a cost … or is it that the approvals will come at a price …
Which will solve no one's problems … back to square one …
The US Gameplan
US analysts, led by Paul Krugman, have been calling for Barack Obama to emulate Roosevelt - who waded into WW2, with 25,000 tons of nationalized gold. If gold is nationalized, it may depress demand in the short term - giving rise to huge volatility in gold prices. But Warren Buffett has been on the silver bandwagon for a while - and that is making the gold-silver equation hazy. What if Warren Buffet becomes the new US Treasury Chief? There is the real risk of
