Comments on: The U.S. won’t stomach a new Bretton Woods

By: Claude

Claude — Tue, 18 Nov 2008 00:50:08 +0000

US is afraid to lose the supremacy of US$ it is normal, but it will soon.

By: Veeraiah

Veeraiah — Mon, 17 Nov 2008 14:22:12 +0000

Yes.Being a bureacrat served US government, this is natural responce to the calling of world. The outcome of the meeting is certainly encouraging than the expected. At least you are in agreement about sharing the Top Table. If you remember, the same efforts were made to expand the decision making body of IMF two years back. Then the socalled developed world stubbornly refused to do so. Even now also they are only accomodating to share the Whiteman’s burden but not really ready to share their concerns.

By: Greg

Greg — Mon, 17 Nov 2008 01:25:10 +0000

If we don’t agree to some form of international standards in financial transparency, then the world will be wise if they treat us they same way I treat email offers from Nigerian “officials”.

Free trade only works between equals. Columbia is not an equal. Unequal trade agreements lead to degradation in the environment, slave labor camps and corrupt governments.

By: Diana Furchtgott-Roth

Diana Furchtgott-Roth — Sun, 16 Nov 2008 17:11:01 +0000

UPDATE: In the meetings yesterday, the G20 made significant progress, and talked about international coordination rather than international regulation. Leaders agreed on the importance of pro-growth policies to stimulate their economies; the regulation of all financial products; greater representation of emerging market and developing economies; free-market principles, free trade, and an avoidance of over-regulation that would hamper free markets; and the expansion of the scope of the IMF and World Bank to help the poor. They propose to meet before April 30 to implement these principles. If countries can actually stick to free-market principles and avoid protectionism we might see some progress in the global economy. The US Congress could start by voting in favor of the Colombia free trade agreement, which would give Amerian automobile companies another market for their products.

Diana

By: ezekiels watchman

ezekiels watchman — Sun, 16 Nov 2008 16:55:09 +0000

If all people in spirit would just reach out to grasp the hem of the garment of Jesus Christ and repent and cease to do evil, then would we hear from Heaven and God would heal our land. How far down does the world have to plunge before we finally see The True Light? All of these manmade solutions may work for a while but will eventually fail. I pray that someday soon all of humanity will come to realize this.

By: jay

jay — Sun, 16 Nov 2008 16:16:10 +0000

This is an attempt at global government and further erosion of US national sovereignty. The solution is to eliminate the privately owned international monetary cartel known as the Federal Reserve Corporation and bring the control of the currency back to Congress.This is another attempt by the international money powers to dissolve sovereign control of finance. If you control finance you can control politics and the media! Instead of going back to Bretton Woods maybe they should even go back further and go back to the gold standard.

By: Pete Murphy

Pete Murphy — Sun, 16 Nov 2008 12:34:19 +0000

Gordon, “It worked once – why not again?” It only seemed to work for a while. Take a look around. The global economy is collapsing.

The reason it’s collapsing is that globalization, in its current form, dependent on the U.S. sustaining an enormous trade deficit, was doomed from the beginning. Financed by a sell-off of American assets, it worked only as long as the supply of assets lasted. As the end of that supply neared, it became more dependent on riskier assets, like MBAs and CDSs. In the end, we see that “globalization” was nothing more than a trade welfare state, financed by the sell-off of America.

The first step toward rescuing globalization is a recognition that each nation needs to maintain something close to a balance of trade. Yes, this will mean huge problems for grossly overpopulated nations dependent on exports to sustain their bloated labor forces, but now we see that dumping that problem into the laps of healthy economies, namely the United States, is no solution.

By: Rajeev MAHINDRA

Rajeev MAHINDRA — Sun, 16 Nov 2008 08:34:35 +0000

To the leaders attending this extravagant summit, nothing makes sense except their own regurgitated mixed economy persuasions.

It is a sad commentary on our times that out of the whole group, there is not one original thinkinr, let alone haviing guts to make a difference.

It may take time, but reason will ultimately triumph over myopic range of the moment.

By: Gordon

Gordon — Sun, 16 Nov 2008 04:22:39 +0000

Bretton Woods – and the calls for a new Bretton Woods – are much more to do with the concept, the notion of the financial experts from nations around the world gathering together in a place – away from the maddening crowds, away from the spotlight, in a place where they could really concentrate and attempt to solve problems together “not as rivals but as partners” in the words of FDR.
Those are the real reasons behind the calls for a Bretton Woods II – and why it makes rather good sense for a return to Bretton Woods, NH. It worked once – why not again.

By: Mark

Mark — Sat, 15 Nov 2008 21:13:22 +0000

end this experiment of fractional reserve banking, paper based currency and central banks!

the currency standart shall be set by market participants not “socialist” central planning institutions !