G7 Meeting on 11 October to Discuss Crisis

President Bush has called for the G7 to discuss the global financial crisis this coming weekend.

This could be taken as an admission in full view of the media that the rot is systemic to the degree that his government cannot manage it.

I can't help wondering whether GW might propose a global "solution"...




Bush Urges Joint Crisis Response

[edit to add:]
NB A video of Mr Bush speaking has just been added to the above article. Interesting that after saying (watch from 5:05) that deposits are now guaranteed up to $250,000 he adds that the FDIC has never failed to keep it promise - followed by a ?revealing? stutter and splutter.









[edit on 7/10/08 by pause4thought]

Thanks for posting this. It goes along with something I read earlier today but chose not to post as I wasn't sure if I was overreacting with my initial sinking, sickened feeling upon reading it.

www.bloomsberg.com...

`New World'

French President Nicolas Sarkozy, who convened the Oct. 4 meeting, called for a global summit ``as soon as possible'' to implement ``a real and complete reform of the international financial system.'' He said ``all actors'' must be supervised, including credit-rating firms and hedge funds. Executive-pay systems must also be reviewed, he said.

``We want a new world to come out of this,'' Sarkozy said. ``We want to set up the basis for a capitalism of entrepreneurs, not speculators.''

Finance ministers from the Group of Seven industrialized nations meet in Washington later this week.

I have bolded the part of the article that gave me a chill. The manner in which that comment was made almost seems like an admission that this is all part of a plan to bring about their "new world", and we all know what that means...

reply to post by burdman30ott6



Great response. That puts some flesh on the bones of the hypothesis. When you get a hunch like this you actually hope someone will come in and say evidence isn't there.

I'm still studying your article. However one thing's for sure: reform is needed, if only in the light of this revealing thread: www.abovetopsecret.com...

But were the long-standing abuses in the trading markets permitted in the knowledge they would inevitably lead to a collapse that would require a solution? A solution that would require the nod from the G7...

reply to post by pause4thought


I do not know. There's a signifigance to the fact that this issue is going to be brought up specifically at a G-7 meeting rather than calling a G-8 meeting to include Russia. Russia's MICEX has been taking staggering losses to the point they've shuttered the whole market at least 3 times I'm aware of in the past 2 weeks. I would have thought based on that alone all parties would be eager to come together with Russia also sitting at the table to discuss solutions. The fact that they're making this a G-7 meeting, thus excluding Russia, makes me wonder if they view Russia as an obstacle in creating their New World and the only way they can eliminate that obstacle is to stand by while Russia drowns.

Who knows, maybe the original collapse of the Soviet Union and subsequent financial destitution of Russia occurred a decade before the other main players intended it to and then Russia's rapid regaining of financial clout took them by surprise again? One of the keys to forming their unified world government & financial system has always seemed to revolve around a neutered Russia. (I understand the non-conspiratorial answer to "Why are they excluding Russia?" is that the Ruble is not a monetary unit with an internationally pegged rate, therefore Russia isn't needed at these so-called "solution" conferences. I don't buy that excuse, but I'm sure it is the one that will be used if any explanation is ever offered.)

G7, G8, G10, whatever, what they need to do is put it on tape, all of it, and let the whole world see it.

I am so sick of all the secret meetings going on that are determining the fate of the world.

I want to hear it all.

reply to post by burdman30ott6


People can correct me if I'm wrong, but I was under the impression Russia was elbowed out following the conflict in Georgia. This feeds directly into the issues you raise: could it be that Georgia was a convenient place to increase East-West tensions, which in some as yet unspecified manner could lead to the exclusion of Russia from a new system until such time as it comes begging for inclusion? The current regime in Russia would by no means agree to a truly global (US-led, or UN-led) system, that's for sure.


reply to post by redhatty

G7, G8, G10, whatever, what they need to do is put it on tape, all of it, and let the whole world see it.

A vital point. (I almost posed the question of whether the minutes would be made public in the OP.)

What are the chances we'll be told the true substance of the talks? Put it this way: ever heard of Bilderberg?

Just in case: en.wikipedia.org...

And guess what, the (surprisingly short) article includes this little gem:

Some popular media references to the group are in Fredrick Forsyth's novel "The Icon" where the group decides to undermine a nationalist Russian leader loosely modeled on Vladimir Putin (among others).

Are those proverbial dots really beginning to join themselves up? Can it be?

reply to post by burdman30ott6


.....We want to secure Capitalism ...

By having World governments control it directly......

Is the definition of Corporate Fascism.....

The only way to fix this problem is by creating the North American Union and introducing the Amero.

reply to post by Rockpuck


Exactly. Are we the only people who see the irony and stupidity in the attitude they are displaying? How ridiculous is it that they are effectively saying "OK, our capitalist system, which has never been unrestrained whatsoever, is faltering under the current regulations we've placed upon it... Hmmm, instead of trying unrestrained capitalism for a change, let's increase government involvement to the point where our so-called "capitalism" looks nothing like the capitalism America was built upon. Yeah, that'll work!"

I think we're currently seeing the markets purge themselves of investors who can only survive in true capitalism. Much like the main stream media, our markets in another 10 years will look nothing like they do today, with a small handfull of megaconglomerates controlling virtually all "publically" traded stocks and most everyone else on the outside looking in.

I've actually wondered if we're watching the extremely early stages of a secondary market forming, a market which the average investor will find as his only outlet to invest in 10 years where the megaconglomerates & governments control all primary stock and then "allow" the small investors to purchase stock in the megaconglomerates, themselves, based on whatever stock those entities individually control. That particular system would ensure that the only ones truly at risk of losing money would be the individual investors, as the megaconglomerates wouldn't lose money so much as they would simply experience an ever revolving cycle of trade-offs between themselves.

(I'm going to stop now because I haven't heard anyone else theorize this possibillity and, to be honest, when I think too hard about it I start to believe that maybe I'm nuttier than a fruitcake for even coming up with such a hairbrained theory.)

I've actually wondered if we're watching the extremely early stages of a secondary market forming, a market which the average investor will find as his only outlet to invest in 10 years where the megaconglomerates & governments control all primary stock and then "allow" the small investors to purchase stock in the megaconglomerates, themselves, based on whatever stock those entities individually control. That particular system would ensure that the only ones truly at risk of losing money would be the individual investors, as the megaconglomerates wouldn't lose money so much as they would simply experience an ever revolving cycle of trade-offs between themselves.

No, no .. we are not in the early stages of that..

We have already been there?

I can take 400k an invest it into a small regional corporation.. I won't be majority share holder by any means, but I will still hold quite a few votes.. depending on the number of stocks issued of course.. but assuming it is a normal sized regional corporation, it's a pretty big investment..

If I take 400k and invest it in Microsoft (DOW) .. I will be an ant? .. If I invest in Google .. I might get 900 shares out of hundreds of million..

So WHO owns the shares? .. Who trades them? .. If the DOW drops 500 points, someone.. somewhere.. is unloading money big time.. WHO? .. NOT THE LITTLE GUY .. "jittery investors" do not hold much sway over a huge index like the DOW..

The DOW represents 30 companies.. THIRTY COMPANIES.. The largest banks, the likes of Microsoft.. GM, McDonalds, Proctor Gamble..

Seriously .. it would take billions of dollars to have influence over these companies.

So we already see a market where the little dude can look in.. not control anything, might make a total $25 off dividends each quarter because that's all he can afford to own.. might FEEL like he owns something big.. DOW could rally a thousand points, that little guy might make $30.

Most average joe investors .. middle class America... never sell their stocks.. they don't have much to begin with anyways, but what they do have they "ride the waves" .. because they typically don't need the cash right now..

Typical Day Traders.. guys who sit in their pajamas with their face glued to the screen .. typically don't trade on the DOW.. why spend so much money to hope 300 shares will raise $5 each.. when you can invest in another company and get 3,000 shares and have them rise $5 each? In the trading circles I have seen (day traders who congregate into each other and share ideas, plans etc) none ever purchased huge corporations like Chase, BoA, McDonalds.. no sense to .. not if your looking for short to mid range gains.. who want's to see their trading account raise a mere 6%?

So to all the chumps out there.. go on .. buy that 110 shares of Google that you will spend a years worth savings on .. and don't forget to vote come your corporate elections via your Common Stock..

PS.. if you ever have a trading account and you get all the fancy graphs, charts, moving lines and other colorful hypnotic effects.. you will see the actual trade sizes in real time.. so take Microsoft.. you might see 100 sell, 500 sell, 600 buy, 800 buy, 76,000 sell, 110,000 buy, 80,000 sell ..

Those are trades from Fund managers... I calculated a buy once, something like $30,000,000

[edit on 10/7/2008 by Rockpuck]

One more edit..

We all watch the DOW and go WOW (hey I rhymed..) .. but in reality we SHOULD be watching the S&P 500 .. as it represents 500 of the TOP companies in America.. FIVE HUNDRED. DOW represents 30. hmmmmm

[edit on 10/7/2008 by Rockpuck]

As you can see, we just got out of a recession .. however.. if you notice.. the 2000 recession really honestly did not come all at once.. as the Dotcom burst..

However..

This recession has quite obviously started off with a big bang.. 36% down from it's highest point.

Originally posted by burdman30ott6
Thanks for posting this. It goes along with something I read earlier today but chose not to post as I wasn't sure if I was overreacting with my initial sinking, sickened feeling upon reading it.

www.bloomsberg.com...

`New World'

French President Nicolas Sarkozy, who convened the Oct. 4 meeting, called for a global summit ``as soon as possible'' to implement ``a real and complete reform of the international financial system.'' He said ``all actors'' must be supervised, including credit-rating firms and hedge funds. Executive-pay systems must also be reviewed, he said.

``We want a new world to come out of this,'' Sarkozy said. ``We want to set up the basis for a capitalism of entrepreneurs, not speculators.''

Finance ministers from the Group of Seven industrialized nations meet in Washington later this week.

I have bolded the part of the article that gave me a chill. The manner in which that comment was made almost seems like an admission that this is all part of a plan to bring about their "new world", and we all know what that means...

Guess who Sarkozy had been speaking to on the phone? -

The Prime Minister, Nicolas Sarkozy, the French President and Silvio Berlusconi, the Italian Prime Minister, spoke with the United States President by telephone.

Mr Bush urged his European counterparts to coordinate efforts to solve financial crisis spreading around the globe. All are expected to agree to attend a meeting if the details can be thrashed out.

Downing Street said it was "a good idea" and welcomed the President's close attention to events in Europe. The idea was floated by Mr Sarkozy, who holds the presidency of the European Union.

Dana Perino, the White House press secretary, said: "The president obviously talked to President Sarkozy about his idea to have a meeting. The president's open to that."

The venue for the meeting would still have to be decided, although Washington is the likely destination.

Source: www.telegraph.co.uk...

It looks like the words you put in bold were no coincidental turn of phrase.

what's going to be said? They of course know the outcome; to internatiionally buy out trillion (yes trillion...) dollar companies on pennies on the dollar. But with the G7 meet everyone is is "going" to be persuaded to do the same, like china, UK and the ECB.

I do not know about you, but i find it fun to see the establishment blow up

Originally posted by its_a_zeitgeist

I do not know about you, but i find it fun to see the establishment blow up

When you have a family to support there's absolutely nothing "fun" about this. Quite the opposite, actually. It's maddening and for a person who's been extremely mellow for the first 32 years of his life, I'm having some trouble dealing with the stress it's causing me. No, no fun here.

I am not really interested in the money side of it, more the mental(zeigeist), side of the mass people side of it. I heard a year or so ago, that the money markets where just built on perceptions, of the day.

So thats the part i find interesting, i find most of the money stuff so boring, but like i said the zeigeist side of it intrigues me.

Looks like the meeting will be on Friday 10th.

WASHINGTON, Oct 9 (Reuters) - The Financial Stability Forum was set to meet on Thursday to finalize recommendations to the Group of Seven nations in a report that is likely to take into account the latest global turbulence, a G7 source said.

The report, to be delivered to the G7 at a meeting in Washington on Friday, is a follow-up to a lengthy list of recommendations made in the spring on how to strengthen the financial system.

The source said members of the FSF, a grouping of top central bankers and other financial regulators from around the globe, were expected to meet around midday.

Source: www.reuters.com...

"...likely to take into account the latest global turbulence"!! Likely? Maybe they've got more pressing matters to discuss...

This is no longer speculation.

We are now unquestionably in the realm of real events.

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.''

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire...

Source: Berlesconi says Leaders may Close World Markets


Does anyone else reckon these meetings are important?

(Please flag if you think the info needs to spread!)






[edit to fix code]

[edit on 10/10/08 by pause4thought]

Like someone said above, how can they fix a global problem, without inviting russia also to the meeting. You cannot have a truely world fix, without russia, but like said above, russia is outside the group of countries, owned by the people who own the west.

Strange why they bother at all.

What many people forget / don't realise is that the de facto currency in Russia and virtually the entire former Soviet Union is dollars! From corporate business to property purchases to personal savings - the dollar holds sway.




More Clues as to What the G7 may be moving towards:

UK Prime Minister wants Global Bank Support

He told the BBC he was trying to "persuade" other world leaders to restructure the global financial system but warned that it "would take time".

UK Chancellor calls for Action from G7

UK Chancellor Alistair Darling has called on the Group of Seven (G7) rich countries to "do whatever it takes" to tackle the global financial crisis.

[edit on 10/10/08 by pause4thought]

PLEASE GO TO THIS THREAD NOW:

www.abovetopsecret.com...


All is revealed, at last. The plans for a global financial system laid out before your very eyes, and being finalized today!












[edit on 11/10/08 by pause4thought]