Leaders May Close World Markets

Leaders May Close World Markets

www.bloomberg.com

Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''

Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''

(visit the link for the full news article)

"The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system."

Interesting. Reading up on Bretton Woods, but it doesn't sound good. I think this sums it up "rewrite the rules of international finance.''





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

Rewriting the rules?

I wouldn't worry. After all, these are only the same people who caused this entire mess to begin with, all the while telling us that everything is as ok so long as we believe them.

And the answer is!!!!!!!!!!!!!


All currencies around the world will be pegged against the U.S. Dollar.. The U.S. Dollar will be come the global currency...


Opps!!!!!! It already is!!!!!!!

Yaaaaaaaaaay! Does this mean my money will be worth somethign again? Are there going to be more flashy colors, ooohh I like colors

[edit on 10/10/2008 by DYepes]