On Sun, 5 Apr 2009 22:01:58 -0700 (PDT), indiaBPOking
wrote:

http://meltdown2011.com/2008/11/20/u...y-summer-2009/

The Western monopoly on global economic and financial governance is
coming to an end.

The [G-20] meeting demonstrated this kind of summit is doomed to
inefficiency because they concentrate on curing the symptoms rather
than the fundamental root of the current crisis, i.e. the collapse of
the Bretton Woods system based on the US Dollar as sole pillar of the
global monetary system. Without a complete overhaul, by summer 2009
the failing of the current system and that of the United States at the
center, will lead the whole planet to an unprecedented economic,
social, political and strategic instability, and more specifically to
a breakdown of the global monetary system by summer 2009.

Panic At the Highest Levels
The agitation that has seized global leaders since the end of
September 2008 indicates that panic has struck at the highest level.

Worldwide political leaders have now understood that the house is on
fire. But they have not yet perceived something obvious: that the very
structure of the building is involved. Improving fire-regulations or
reorganizing emergency services will not be sufficient.

Financial 9/11
To use a strong symbolic image, the World Trade Center’s twin towers
did not collapse because firemen were late or because water was
missing in the automatic fire-system, they collapsed because their
structure was not meant to support the shock of two airliners hitting
them in just a few minutes.

Today’s global monetary system is in a similar situation: the twin-
towers are the Bretton Woods system, and the airliners are called «
subprime crisis », « banking failures », « economic recession », «
Very Great US Depression », « US deficits », … a whole squadron.

Today’s leaders, who all belong to the collapsing world, cannot
possibly imagine how to solve the problem–just like central bankers in
2006/2007 could not possibly imagine the scope the unfolding crisis
could reach.

US Implosion By Summer 2009
According to LEAP/E2020, if global leaders fail to take actions in the
next six months, the US debt will « implode » by summer 2009 under the
shape of the country’s defaulting or the Dollar’s dramatic
devaluation. This implosion will [cause] a number of similar episodes
affecting less central countries, including the United Kingdom whose
already huge debt is ballooning at the same pace as Washington’s.

Makes for a possibly interesting summer. Bring it on, bring it on.

ted

http://www.wvwnews.net/ Western Voices World News