Berlusconi Says Leaders May Close World's Markets (Update1)
Oct. 10 (Bloomberg) -- 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.''
The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.
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. 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.
Oct. 10 (Bloomberg) -- 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.''
The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.
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. 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.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5mpMUORBWM
NWN: Capitalism collapsing ? Certainly we have/are approaching a similar mess that occured in October 1928 - Wall Street Crash.
NWN: Capitalism collapsing ? Certainly we have/are approaching a similar mess that occured in October 1928 - Wall Street Crash.
16 comments:
Just when we would expect the BNP to take control of the discussion and put forward its very practical plans re: global financial chaos, what do we get, this crap........
http://www.bnp.org.uk/2008/10/the-stock-market-explained/
It's not even close to the reality of the cause of the crisis, just some rubbish thrown together by the very suspect Web editor Arthur Kemp, a proven Judeophile and agent from the South African Intel. Under sensible regulation the Stock Exchange would allow "humble workers" and anyone with savings to invest in the success of the expected performance of the best brains in commerce. Nationalists have traditionally bashed the Stock Exchange as some offspring of some satanic/new world order cult. The reality is much more complex and a sensible nationalist party would offer to provide some very practical suggestions.
This is what happens when you allow greedy Jews to control money, people, and countries.
The governments are borrowing huge amounts of money to stave off this economic collapse - and guess who is going to have to pay it all back + interest ?
Re Kemporcamp
Yes the named article is beyond pathetic. Clearly the BNP has no statment to make on the arrival of the crisis that nationalism has been waiting for for decades and consequently, the BNP, defines its-self as irrelevant.
Arthur Kemp. Just what is Arthur Kemps background and why was Nick Griffin so determined to have him in a prominant position in the BNP?
Roumour suggests that Arthur Kemps South African background is very ,very questionable. Anyone with information on Arthur Kemp please post.
The governments are borrowing huge amounts of money to stave off this economic collapse - and guess who is going to have to pay it all back + interest ?
10 October 2008 23:16
The money is being borrowed from Jews, and will be returned to them via the British taxpayer.
This is the moment all nationalists have been waiting for, and what is Griffin doing? Exactly what we thought he would do, NOTHING
Re: Arthur Kemp, I think Peter Rushton would be the best person to speak on this suject.
Oh the BNP does have a position all right - deliberately obscuring the issue, going around in circles, and making a point of NOT capitalising on the crisis. Odd that.
It speaks volumes that come a real crisis that might haver bben expected to propel a real nationalist party into power the BNP has nothing to say. The real reason is that the buffoon Griffin has ensured that any one of any intelligence has been driven out. The BNP is simply not a serious politicla party.
Oh the BNP does have a position all right - deliberately obscuring the issue, going around in circles, and making a point of NOT capitalising on the crisis. Odd that.
11 October 2008 07:50
Rather like the silence of the 'Front National' when Paris was being torched by Muslims.
The whole lot is a state controlled valve.
Griffin cannot say anything on the crisis, he knows zilch about economics, and those surrounding him know even less.
Time we were all honest, the BNP is fucked.
"Time we were all honest, the BNP is fucked.
11 October 2008 11:13"
It is whilst Griffin controls it. He keeps it at a level that is just ticking over, and he does it on purpose. I hate the money grubbing cunt. As someone else pointed out, this crisis is the wake up call for the general public which should be capitalised on, but the BNP isn't a real political party, its a vehicle that provides wages for a select few.
I too was astonished by the puerile rubbish broadcast on the BNP web site. At a time like this when millions are living in fear of losing their jobs, income, savings and a roof over their head we get this tripe. Intellectual lightweights like Stephen Bennett and Arthur Kemp running the BNP publicity machine need a boot up the backside but it wont be Gri££in who delivers it and who else is there? Such a waste!
I'm utterly gobsmacked!
The world is in meltdown, and this is the BNP's contribution!
Someone tell me this isn't real...
"Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for £10 each. The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them.
The man bought thousands at £10 and as supply started to diminish, the villagers stopped their effort. He then announced that he would now buy at £20. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to £25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at £50. However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the villagers, “Look at all these monkeys in the big cage that the man has collected. I will sell them to you at £35 and when the man returns from the city, you can sell them to him for £50 each.”
The villagers hurried round with their savings and bought all the monkeys.
Then they never saw the man nor his assistant again, only bloody monkeys everywhere!
Now you have a better understanding of how the stock market works."
The only monkies I can see are the BNP members. Griffin is an effing disgrace. All the hardwork over the years, and he does this. I feel sick.
http://www.bnp.org.uk/2008/10/the-stock-market-explained/
I just went over to the BNP web site to have a look at the article and its in the your say column meaning it was contributed by a reader, who signed himself screaming mad.
I just went over to the BNP web site to have a look at the article and its in the your say column meaning it was contributed by a reader, who signed himself screaming mad.
11 October 2008 13:51
Does that mean that Griffin has yet to make a statement? Perhaps he needs Deavin to help him out LMFAO
Does that mean that Griffin has yet to make a statement?
You mean that wasn't him in the picture? LOL
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