G20 fails to endorse bank tax

G20 fails to endorse bank tax

www.cbc.ca

Finance ministers and central bank chiefs from the Group of 20 nations rejected the idea of a global bank tax in Washington Friday.

The statement also said the countries were working to come up with a co-ordinated effort to overhaul financial regulatory systems that were found to be seriously flawed.

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[edit on 23/4/2010 by Mirthful Me]

1) Create a problem.
2) Come up with the solution which is what they wanted in the first place.

The problem was of course the financial meltdown in September 2008.

The solution is of course a massive "coordinated effort to overhaul financial regulatory systems"

I wonder (sarcasm) if their "coordinated effort" will recommend that the only way out of this mess is a single currency under IMF control?

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[edit on 23/4/2010 by Mirthful Me]

What is wrong with a single world currency?

I believe money to be nothing more than a bad drug. When you have lots of it, you are happy and feel as if you can do anything; if you're just passing by with minimal wages then you start to feel the anxiety; when you have no money, then you become desperate to obtain it while suffering serious withdrawal symptoms, including paranoia and depression and you'll eventually end up on the streets with serious mental problems.

At least if there was a global currency then everyone would be influenced by the same drug instead of some countries have better or worse quality of drug.

That of course was always the plan. With a one world currency, one world government is pretty much in place.

Give me control of a nations wealth and I care not who makes the laws.

Originally posted by Dimitri Dzengalshlevi
What is wrong with a single world currency?

Stability.

With a "basket of currencies", one of them can rupture and crash, while you are safe with your other currencies.

If there is only 1 currency, you are effectively putting every egg in one basket. It's highly risky.

When traveling, it will change the pain of having to exchange currency. Real dollars for the real world where you money will exchange for exactly what it's worth.

Nice!

Everyone will be on the same page. American dollars are just paper, anyway!

reply to post by muzzleflash


Not to mention "risky" for your national security... Do you want China or Russia put in charge of printing money? Have the UN vote a "currency embargo" on your nation? It is ridiculous. We would put our entire nation in the hands of a worse corruption than we already have.

[edit on 23-4-2010 by infolurker]

Thats the last thing we need, replacing multiple fiat currencies for one big fat fiat currency.

It's the Same story over again. Ultimately it would be a dream come true. All of humanity united, recognizing we are only one race of species. We shouldn't need such imaginary self imposed lines or currency.

I have no faith in our world leaders or even the system in which governs us. It's so brutal I can't believe the overall state of affairs in the world.
Hail the all mighty dollar slaves.....I spit on money.

The problem with one world currency is that the central bank can not address localized monetary conditions. This is happening now in Europe. You will see the Germans, for example, wanting easing and the French wanting tightening, both to do what is best for their respective economies. They could do that when there was a Mark and a Franc, but now they can not. Over the entire world the problem would be exacerbated.