Comments on: Kevin Rudd: the G20 man with a plan http://www.crikey.com.au/2009/03/23/kevin-rudd-the-g20-man-with-a-plan/ now with extra source Sat, 11 Feb 2012 13:13:23 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Bohemian http://www.crikey.com.au/2009/03/23/kevin-rudd-the-g20-man-with-a-plan/#comment-5589 Bohemian Thu, 01 Jan 1970 10:00:00 +0000 #comment-5589 Call me cynical but I cannot see this G20 exercise being much more than a rub and tug. The IMF and the World Bank would need to cease being a policy arm of the Anglo-American Empire if there is to be a change for the better in the world financial system. The best way to achieve that would be to abolish both of them along with all central banks and the BIS, and to introduce a value-based currency basket as the basis for deriving a meaningful global cours des changes. The Russians have suggested that this might be based on a basket of commodities including gold and possibly iron ore, oil, uranium and even food. I see such a "value-based currency equivalents system" of great advantage to Australia given its position as a fundamental supplier of many if not most of the proposed items in the basket. <br /><br />Somehow I can’t see the Anglo American Empire acceding willingly to this and for the life of me cannot divine what they stand to gain from China and India having increased economic power. At the moment, the Americans have managed to bluff the world into hanging onto US dollars because it would too expensive not to in much the same way that they have done over the last 36 years. You know the "too big to fail" argument. But eventually this “funny money” system will come to an end and the US dollar will go into free fall. If it is replaced by a commodity-backed basket of currencies, the Aussie is likely to undergo a sharp positive correction.<br /><br />From best I can gather, none of these issues is being discussed by Mr Rudd or his acolytes and so I don’t expect much out of G20 other than more massive quantitative easing from the US and UK and further downward pressure on those currencies to the incredible annoyance of both the BRICS (who have US dollar based reserves) and the Europeans who will find it even harder to sell their imports into the Anglosphere.<br /> Call me cynical but I cannot see this G20 exercise being much more than a rub and tug. The IMF and the World Bank would need to cease being a policy arm of the Anglo-American Empire if there is to be a change for the better in the world financial system. The best way to achieve that would be to abolish both of them along with all central banks and the BIS, and to introduce a value-based currency basket as the basis for deriving a meaningful global cours des changes. The Russians have suggested that this might be based on a basket of commodities including gold and possibly iron ore, oil, uranium and even food. I see such a “value-based currency equivalents system” of great advantage to Australia given its position as a fundamental supplier of many if not most of the proposed items in the basket.

Somehow I can’t see the Anglo American Empire acceding willingly to this and for the life of me cannot divine what they stand to gain from China and India having increased economic power. At the moment, the Americans have managed to bluff the world into hanging onto US dollars because it would too expensive not to in much the same way that they have done over the last 36 years. You know the “too big to fail” argument. But eventually this “funny money” system will come to an end and the US dollar will go into free fall. If it is replaced by a commodity-backed basket of currencies, the Aussie is likely to undergo a sharp positive correction.

From best I can gather, none of these issues is being discussed by Mr Rudd or his acolytes and so I don’t expect much out of G20 other than more massive quantitative easing from the US and UK and further downward pressure on those currencies to the incredible annoyance of both the BRICS (who have US dollar based reserves) and the Europeans who will find it even harder to sell their imports into the Anglosphere.

]]> By: Helen http://www.crikey.com.au/2009/03/23/kevin-rudd-the-g20-man-with-a-plan/#comment-5590 Helen Thu, 01 Jan 1970 10:00:00 +0000 #comment-5590 That slab of lard Akerman produces the same line of garbage week after week, attacking the PM regardless of the facts, regardless of any useful debate, merely t o satisfy his personal hatred of Rudd and the Labor movement. Any attempt to correct his fanciful ramblings and the comment is either never printed (it shows him to be loose with the facts)or the fat fool replies with a barrage of abuse, which appeals to the rabble who live on a diet of his every word. That he is still employed as a writer on a metro daily beggers belief, given the trash he dishes up. it was heartening to see him get his just desserts with the result of the Q'Land election last Saturday. His prediction of the voters of that fair state throwing Labor out and bringing on an enquiry to satisfy the fairy tale of the coverup of the Heiner thing must have brought on a severe attack of depression. Once again sane Australians saw through that pathetic ongoing attack on Kevin Rudd. What Akermans contribution to quality jounalism is must be a closely gaurded secret, there is no obvious evidence of it in his blog. That slab of lard Akerman produces the same line of garbage week after week, attacking the PM regardless of the facts, regardless of any useful debate, merely t o satisfy his personal hatred of Rudd and the Labor movement. Any attempt to correct his fanciful ramblings and the comment is either never printed (it shows him to be loose with the facts)or the fat fool replies with a barrage of abuse, which appeals to the rabble who live on a diet of his every word. That he is still employed as a writer on a metro daily beggers belief, given the trash he dishes up. it was heartening to see him get his just desserts with the result of the Q’Land election last Saturday. His prediction of the voters of that fair state throwing Labor out and bringing on an enquiry to satisfy the fairy tale of the coverup of the Heiner thing must have brought on a severe attack of depression. Once again sane Australians saw through that pathetic ongoing attack on Kevin Rudd. What Akermans contribution to quality jounalism is must be a closely gaurded secret, there is no obvious evidence of it in his blog.

]]> By: Brad http://www.crikey.com.au/2009/03/23/kevin-rudd-the-g20-man-with-a-plan/#comment-5591 Brad Thu, 01 Jan 1970 10:00:00 +0000 #comment-5591 Piers is such a joke. If Rudd didn't go, he would be the first to line up with headlines such as "Rudd snubs G20!" Piers is such a joke. If Rudd didn’t go, he would be the first to line up with headlines such as “Rudd snubs G20!”

]]> By: Venise Alstergren http://www.crikey.com.au/2009/03/23/kevin-rudd-the-g20-man-with-a-plan/#comment-5592 Venise Alstergren Thu, 01 Jan 1970 10:00:00 +0000 #comment-5592 I wouldn't mind his constant travels, if only he was using them to study ways to solve the wretched sand-heap that is Australia: If he WAS ACTUALLY TRYING TO BUILD A BETTER COUNTRY, but all he ever does is to give lashings of Aid to countries that are beyond help; or to organizations which have a squalid history of existing to glorify and sustain the well-suited, but morally-bankrupt non-gov orgs. Such as the Untied Nations. World health, which, under the Bush regime, refused all financial aid to countries who were using birth control. Words fail me. I wouldn’t mind his constant travels, if only he was using them to study ways to solve the wretched sand-heap that is Australia: If he WAS ACTUALLY TRYING TO BUILD A BETTER COUNTRY, but all he ever does is to give lashings of Aid to countries that are beyond help; or to organizations which have a squalid history of existing to glorify and sustain the well-suited, but morally-bankrupt non-gov orgs. Such as the Untied Nations. World health, which, under the Bush regime, refused all financial aid to countries who were using birth control. Words fail me.

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