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BERLUSCONI : LEADERS MAY CLOSE WORLD'S MARKETS
Deudge ^
Posted on 10/10/2008 9:12:38 AM PDT by Danae
Italian Prime Minister Berlusconi said political leaders discussing idea of closing world's financial markets while they 'rewrite the rules of international finance'... MORE
Nothing follows. I can't get to the Bloomberg story its getting hammered.
This is huge and series. Load your shotguns folks.
TOPICS: Breaking News; Foreign Affairs; Government; News/Current Events
KEYWORDS: bailout; berlusconi; currency; europe; finance; g7; g7summit; global; globaleconomy; italy; wtf
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To: Danae
Perhaps we should “rewrite the laws of gravity” while we are at it, and cast all calories out of chocolate cake!
21
posted on
10/10/2008 9:18:32 AM PDT
by
LS
("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
To: Toddsterpatriot; 1rudeboy; Petronski; Jeff Head
22
posted on
10/10/2008 9:19:53 AM PDT
by
Ultra Sonic 007
("An American Carol", due October 3rd in theaters!)
To: KansasGirl
Japan’s market fell by what 10% last night...
23
posted on
10/10/2008 9:20:50 AM PDT
by
Danae
(Read my Lipstick: I AM Sarah Palin)
To: Danae
Here’s what needs to happen.
Everybody forgives everybody else’s current debt.
We start over tomorrow.
Okay! Next problem, please ...
24
posted on
10/10/2008 9:22:17 AM PDT
by
JennysCool
(There are three kinds of lies: lies, damn lies, and the polls.)
To: Danae
Guess all those folks who droned on and on about stocks “buying and holding and staying in it for the long term” were right.
If the market closes, yur in it for the long term, like it or not!!
25
posted on
10/10/2008 9:23:31 AM PDT
by
djf
(No milk on the shelves = blood in the streets. So what do we do? Send more money to the bankers!)
To: Danae
26
posted on
10/10/2008 9:23:45 AM PDT
by
babydubya1981
(Homeschooling Moms for McCain/Palin 08)
To: Danae
LEADERS MAY CLOSE WORLD'S MARKETSThen wherever shall I get my fresh fruit?
27
posted on
10/10/2008 9:24:14 AM PDT
by
impeachedrapist
(Bill Clinton, as Arkansas Attorney General did you make Juanita Broaddrick pay for her rape kit?)
To: BGHater
Maybe, the tin foil hat brigade was right after all. Banking holiday for next week? I bet Survival Blog is going crazy right now.
28
posted on
10/10/2008 9:24:43 AM PDT
by
ClayinVA
("Those who don't remember history are doomed to repeat it")
To: JennysCool
Next problem:
Well, uh, I’m not in debt, but when is the bailout coming for my stock market losses?? I guess I could get more taxpayer money if I’d bought a house I couldn’t afford...
29
posted on
10/10/2008 9:25:31 AM PDT
by
GnuHere
To: Danae
If this is true...
I apologize to every Bircher I ever offended, LOL.
30
posted on
10/10/2008 9:27:19 AM PDT
by
M203M4
(True Universal Suffrage: Pets of dead illegal-immigrant felons voting Democrat (twice))
To: Danae
Berlusconi didnt 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. Bretton Woods was an exchange rate fixing mechanism that was abused by the United States and led to the stagflation of the 1970's. No thanks.
31
posted on
10/10/2008 9:28:14 AM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Danae
32
posted on
10/10/2008 9:28:40 AM PDT
by
truthandlife
("Some trust in chariots and some in horses, but we trust in the name of the LORD our God." (Ps 20:7))
To: SE Mom
I heard a couple of days ago this was being tossed around, so I'm only surprised that he said it out loud. While I think it's definitely the wrong thing to do, I'll be surprised if they DON'T choose this option. Meanwhile, behind closed doors, they'll come up with a new worldwide economic system, governed by an international group, that will allow them to sap the rest of the strength out of the USA.
33
posted on
10/10/2008 9:29:17 AM PDT
by
Kay Ludlow
(Government actions ALWAYS has unintended consequences...)
To: JennysCool
Mine too? That’d sure be cool.
34
posted on
10/10/2008 9:29:24 AM PDT
by
Jaded
("Eloquence is no substitute for experience" -Joe Lieberman)
To: GnuHere
You get a bailout because the utility companies have to forgive your last month’s debt, and so does your next door neighbor you borrowed that $20 from last week.
It’s a win-win for everybody.
(Actually, the more I think about it, the more I’m thinking most people and companies would come out pretty much even ... It’d make a pretty fun movie, anyway! ... )
35
posted on
10/10/2008 9:29:29 AM PDT
by
JennysCool
(There are three kinds of lies: lies, damn lies, and the polls.)
To: Oatka
New Bretton Woods.
That means after coughing up 2 trillion or so to the bankers to cover their 2 mill bonuses and 400K spa treatments, they will tell all the grunts “It’s your patriotic duty to turn in your gold...”
36
posted on
10/10/2008 9:29:29 AM PDT
by
djf
(No milk on the shelves = blood in the streets. So what do we do? Send more money to the bankers!)
To: SE Mom
I would imagine at this point that its a VERY real idea being tossed around. Look at it this way, what currency of what Nation is actually pegged to a commodity? Like God or Silver? There is none. Its all paper, literally pegged to an idea of Value. When the US up-pegged its currency from Silver, it allowed the currency to float on a value system, and if there is FAITH in that value of that idea it works great. But when that faith disappears... the paper is worthless. That's what we have happening here, the faith in the system has disappeared, no one knows what anything is worth anymore, they use the loose term “uncertainty” to describe that with out alarming anyone. They can “Fix” that by re-pegging Currency to a Commodity, like Gold or Silver which has real intrinsic value. BUT, for that to work, it would have to be done on a Global level at this point, because our markets are all so closely tied together. Most likely they would shut down the markets until such time as they could revalue the Currencies. I am not smart enough to even begin to unravel how complicated that would be. Or how painful.... But I think that it's coming. If you won gold, and have it in your hot little hands, you are sitting real pretty right now.
37
posted on
10/10/2008 9:29:35 AM PDT
by
Danae
(Read my Lipstick: I AM Sarah Palin)
To: Jaded
Mine too? Thatd sure be cool. Yeah -- everybody's -- people, companies, countries.
I'm guessing it'd come out pretty much even.
38
posted on
10/10/2008 9:30:58 AM PDT
by
JennysCool
(There are three kinds of lies: lies, damn lies, and the polls.)
To: Danae
I meant to Say GOLD, but God isn’t a bad mis-spelling there ;)
39
posted on
10/10/2008 9:32:17 AM PDT
by
Danae
(Read my Lipstick: I AM Sarah Palin)
To: rwfromkansas
Markets heard this a few hours ago, long before the post was made.
40
posted on
10/10/2008 9:32:57 AM PDT
by
Thane_Banquo
("They aren't people! They're the ACLU!" - General Patton in An American Carol)
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