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Will the G20 Summit Tackle Derivatives?

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posted on Jun, 26 2010 @ 06:04 AM
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Webster Tarpley has written a new article entitled "Obama Strategy for G-20 in Ottawa: Push Euro Down, Drive Renminbi Up, Attack Germany, and Keep Toxic Derivatives in Charge of the World Economy." In it he states:

The forces of economic depression in the world economy are colossal, and they cannot be neutralized without the deleting or shredding (as Germany has begun to do) of large portions of the cancerous mass of $1.5 quadrillion of derivatives . . .

Depressions like the current one do not end thanks to some mysterious business cycle . . . They end when destructive policies are abandoned, and effective recovery programs are set into motion. If the G-20 fails to restrict speculation, the world economic depression will continue to worsen.


It seems to me that no matter what is going on with the world's currencies, the "cancerous mass of $1.5 quadrillion of derivatives" is the most important topic.

Here is Webster being interviewed ahead of the G20 Summit this weekend:





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