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Re: Martin Armstrong audio interview with King world news
Very interesting interview. I wish he'd talked more about the new reserve currency he sees and what happens to gold after the blow off phase.It's Economics vs Thermodynamics. Thermodynamics wins. -
Re: Martin Armstrong audio interview with King world news
Originally posted by *T* View Post
http://www.reuters.com/article/2011/...7L417F20111004
IMF Action Plan September 2011Tue Oct 4, 2011 5:08am EDT
Finance ministers and central bank officials from the world's 20 biggest developed and developing economies, the G20, meet next week in Paris and one of the topics of discussion will be the reform of the international monetary system.
Some economists believe the SDR could become a global reserve currency, lessening the world's dependence on the dollar, but should better reflect the global economic balance of power by including currencies such as the yuan.
"Any changes to the SDR basket should be consistent with the purpose and the role of the SDR. However, the indicators underlying the 'free usability criterion' could be clarified," a terms of reference document for EU delegations said.
"We support efforts to provide a clear road map for potential new currencies with transparent entry criteria based on existing principles," said the document, approved by EU finance ministers.
http://www.imf.org/external/np/pp/eng/2011/092411.pdf
A global stability framework for systemic crises, involving higher access (and achoice between a global or a case-by-case approach) and a general SDR allocation.
Reserves currencies. Agreeing on clear, rules-based indicators to chart the way for
entering the SDR basket can facilitate the integration of large and fast growing
emerging markets into the core.
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