G7 pledge scorched earth policy - no currency will be left with any value, no matter what

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Steve Netwriter
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Joined: 13/11/2008

G-7 Pledges to Keep Stimulus Even Amid Budget Stress
http://www.bloomberg.com/apps/news?pid=20601087&sid=aTXyM554cImg&pos=2

Quote:
Feb. 6 (Bloomberg) -- Group of Seven finance ministers pledged to maintain the flow of stimulus into their economies even as investors focus on mounting budget deficits.

“The position for most countries is to support the economies now and get the budget deficit down as the economy recovers,” U.K. Chancellor of the Exchequer Alistair Darling, 56, said in an interview in Iqaluit, Canada last night. “You will see a determination from the G-7 countries to do just that.”

Governments are trying to spur expansion by spending at a time when investors are increasingly shunning countries with rising debt burdens. The MSCI World Index of stocks fell to its lowest since October this week amid worries that Greece and some other European nations may default.

It's only paper. It's not like it's worth anything, so print baby print.

Quote:
Nassim Nicholas Taleb, author of “The Black Swan” and a principal at Universal Investments LP in Santa Monica, California, said Feb. 4 that “every single human being” should bet U.S. Treasury bonds will decline, while Pacific Investment Management Co. calls U.K. government bonds “a must to avoid.”

I would add, everyone should own gold & silver.

Here are two very good options for buying gold & silver and having them stored for you in secure insured vaults:

Bullion Vault ......... and ......... Gold Money

For more details see this:

Why & Where to buy Gold & Silver
http://neuralnetwriter.cylo42.com/node/2535

Your friendly host. Got Climategate news? Email climategate.scandal at gmail.com

Steve Netwriter
Steve Netwriter's picture
User offline. Last seen 3 hours 13 min ago. Offline
Joined: 13/11/2008
Australian Finance Minister Says More Stimulus Needed

So far the madness has not been enough, so they want more...madness.

Australian Finance Minister Says More Stimulus Needed (Update2)
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7yaAF022cas&pos=7

Quote:
Feb. 7 (Bloomberg) -- Australian Finance Minister Lindsay Tanner said the nation’s economy remains fragile and that it will require more stimulus this year.

Australia’s long-term debt, accumulated through the global financial crisis, is also a serious matter, Tanner said on Network Ten’s “Meet the Press” program.

“The Australian economy’s still very fragile and it still needs a significant ongoing stimulus, but less than what was the case last year,” Tanner said in the interview. “The amount that’s been actually spent is a little over half of the total amount, but keep in mind that some of that remaining amount has already been committed.”

I heard a howler on the radio this morning.

Australia has managed to avoid recession Sideways laugh Sideways laugh Sideways laugh

Quote:
“The issue of the longer-term debt is a serious issue,” Tanner said. “That debt has occurred because of the global financial crisis, knocking a huge hole in our revenues. It’s turning out to be not quite as big as we initially anticipated, because Australia’s economy has performed better than was expected.”

To be kind, I suppose politicians have to lie.
But come on, be serious, the REAL reason Australia, and many other countries have a problem is because of excessive debt in the first place.

If you get run over by a car, don't blame the car, blame yourself for walking out into the road with looking!

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