US, Europe Agree to Overhaul World Financial System

US, Europe Agree to Overhaul World Financial System

www.cnbc.com

US and European Union leaders agreed to meet this weekend to prepare for a global summit to overhaul the world's financial system, while fears of worldwide recession continued to rattle markets.

Markets around the world remained worried about a global recession despite signs that the credit market was finally thawing.

In Europe, central banks renewed efforts to free up liquidity and unblock frozen lending, with further action from Switzerland, Britain and the European Central Bank.

French President Nicholas Sarkozy, currently representing the EU on the world stage, said at an EU summit in Brussels he would meet U.S. President George W. Bush on Saturday.

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There you go. It seems like they will have what they wanted all along. A new world order. Centralization of economic power to the world stage.

A new bailout for the US has even been proposed by the Japan's premier:

Japan's Prime Minister, Taro Aso, said Washington may need to push yet more cash into its banks to restore investor confidence, shattered by a crisis that began with a U.S. housing market collapse and now threatens economies worldwide.

To those who knows what's coming out of Bilderberg for the last 2-3 years, you know that this whole thing was planned to create a new UN body to control all the world's economies into even fewer hands.

New world economic order. It's here.

www.cnbc.com
(visit the link for the full news article)

[edit on 16-10-2008 by Vitchilo]

so are they scrapping the amero and moving straight on to a matching new cash denomination for the new shiney market

the euro dollar

the ameuro

the euromerica ??

A successful world bankruptcy reorganization would have to include China, Russia and India. I look for more political posturing and not much substance from the west.

There can be no doubt, however, that the United States Government now owes more that future taxpayers will be able to pay back. There is not enough energy left to provide the type of economic growth that would be necessary. The world economic outlook is grim. The same reality that caught up with Wall Street (you cannot borrow your way to prosperity) is going to catch up with the dollar.

Don't think this is a surprise to world decision makers...and I don't mean George Bush. The United States and Britain are now well prepared to quash massive civil unrest/revolutionary activities without Constitutional restraints. The "War on Terror" against "Islamo-fascists" will likely morph into controlling "domestic terrorists plotting to overthrow the government".

Despite the recent drop in the price of oil due to demand destruction and the shaking out of fraudulant speculative gains, world oil production has not increased over the past three years and net world oil exports have declined over the same period. It matters not how much oil is in the ground, but how quickly it can be brought to market and at what cost, both in dollars and energy required. Economic growth requires net energy growth and new oil fields coming on line are barely keeping up with the increasing rates of depletion in the so called "elephant fields".

We are witness to what happens when fractional reserve banking, financial markets and fiat currencies run up against resource depeletion. It is an intractable and permanent problem that few politicians recognize and have no answer for.

Originally posted by noobfun
so are they scrapping the amero and moving straight on to a matching new cash denomination for the new shiney market

the euro dollar

the ameuro

the euromerica ??

It might be called the Terran, as in "of the planet Earth (Terra)"


One world. One currency.



"He who controls the economies of Nations, Controls those Nations in All Things"!