Will G20 Actions Exacerbate Problems?

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A
major G20 meeting presently is going on in London. In November 2008,
an emergency G20 meeting was held in Washington. Still another meeting
is expected later this year, probably as early as July.

Actually, G20
"working groups" meet fairly regularly, but it is only
when high government officials gather that G20 meetings receive
much publicity. The heads of state of twenty-three of the world’s
largest economies will attend the London meeting. Obama is already
there.

Standard Establishment
news verbiage about the G20 meeting usually goes something like
this: "The agenda is vitally important to the economic recovery
of the world’s business and trading community." Here’s another
snippet (and snippets are about all you get): "It is now up
to the IMF to determine how much additional support the world economy
would need next year." With that comment, you’re supposed to
think of the IMF as a big brother there to make everything right.
Finally, here’s one designed to scare people into accepting G20
actions: "With economic peril spreading around the globe…"

More specifically,
German Chancellor Angela Merkel and Russian President Dmitry Medvedev,
after a preliminary meeting in Berlin, called for a modernization
of the architecture of international financial markets
. Medvedev
favors the creation of a modern foreign currency architecture.

Read
the rest of the article

April
4, 2009

Bill
Haynes [send him mail] is a
gold dealer
in Phoenix, Arizona, who once thought he was a conservative,
but now knows "after being introduced to LewRockwell.com"
that he was a libertarian all along.

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