November 2, 2011 SouthAmerica: Here is what I wrote today regarding what is expected to be accomplished with the G20 Summit in Cannes, France. Sneak Preview: G20 Summit on November 3â4, 2011 in Cannes, France The Group of Twenty (G-20) of Finance Ministers and Central Bank Governors at least they made one correct decision regarding the location of this G20 Summit on November 3â4, 2011 in Cannes, France. The location of the meeting has a special meaning, and convey a subliminal message to the rest of the world about what is expected of being accomplished on this meeting in Cannes, France. Cannes, is best known for its annual film festival â movies, the world of make believe, the world of illusions. The perfect place for the G20 to stage their latest drama â A Greek tragedy. This Greek drama has already various sequels on the pipeline which will reach its climax with an international monetary system meltdown. One of the main attractions of this G20 Summit it will involve China and the US$ 150 billion dollars that Nicolas Sarkozy hopes China will supply to entertain the audience. China will participate in a simple act a magic trick â Nicolas Sarkozy will show to China how they can make the US$ 150 billion US dollars disappear forever just like that â 1, 2, 3 gone..... ***** http://www.g20.org/ .
November 3, 2011 SouthAmerica: I posted the following in Brazzil magazine to clarify a question raised by a reader regarding one of my postings on that Brazilian magazine: ***** Reply to Hugo Santos written by Ricardo C. Amaral, November 03, 2011 Ricardo: Hugo, you missed the point from the above postings. I wrote the following: We are already in the first leg of another Great Depression - the world economy is going to hell in a handbasket at the speed of light. The good news is: there are 2 countries among the G-20 major economies that will not collapse as much as everybody else - and Brazil is one of the 2 countries. No - I am not kidding. Anyway, the other country is: India. By the way, this new "Great Depression" it will be a lot worse than the one they had in the 1930's. ***** As the global economy and financial system goes into a meltdown mode - "A New Great Depression" - which is going to hurt very badly most of the G20 country economies including China, the USA, and Germany - there are 2 countries that will be able to survive a little better than the other ones - Brazil and India. The economies of China and Germany will be affected and have a major negative impact because over 30 percent of their economies depend on the export market. The USA economy and financial system will meltdown because the US dollar it will be repudiated as the main foreign reserve currency as the US economy and financial system meltdown. No more free lunch from the world to Americans and their bankrupt and collapsing financial and economic system. It will be an economic nightmare for all the G20 countries including in Brazil and India (one of the G20 countries is represented by the ECB). But at the end of the day after the dust settles of this massive economic and financial meltdown and collapse that is underway, the 2 countries that will survive the best from the ashes of the G20: it will be Brazil and India. The economy and financial system of Europe is imploding. The economic and financial system of the United States it has been in a coma and is surviving based on artificial means, massive US government intervention, and money borrowed from foreign countries including China. If the US dollar were not the main foreign reserve currency, then the US economy and financial system would have had a meltdown and collapsed just like the Soviet Union did years ago. The European financial and economic meltdown might be the final trigger that will set off a massive meltdown of the US economic and financial system - and the end of an era, and the closing of another major chapter in world history. .
Denner: OPS, please move to chit chat as this is not fit for board discussion. ***** November 3, 2011 SouthAmerica: I agree with you. The events that has been going on in the G20 Summit in Cannes, France, and in the side show from Greece shouldn't be discussed even in the chit chat forum where we post jokes and other silly stuff. Anyway, there's a simple solution for the troubles that they are having with the Greek debt and the massive crisis that is developing in the European banking system, and they should consider the following strategy: Ben Bernanke and the Federal Reserve comes to the rescue and the Fed would buy all the Greek debt with no hair cut - the Fed can pay 100 percent of the value of anything when the Fed decides to buy any "toxic assets". The Fed has already over US$ 2 trillion dollars in toxic assets on its balance sheet, and nobody will notice if another US$ 500 billion or even US$ 1 trillion in new toxic asset purchases is added to the Fed's BS in an effort to help some friends? Note: BS is short for "balance sheet" and not "Bullshit"; even though in the case of the Fed these words means the same thing. .
November 3, 2011 SouthAmerica: Reply to Denner Nicolas Sarkozy prepared himself to do his job as the chairman of this âG20 Summitâ in Cannes, France by studying the performance of the clowns who perform on a regular basis on the âCIRQUE DU SOLEILâ. <iframe width="560" height="315" src="http://www.youtube.com/embed/yV4G-nWVPOc" frameborder="0" allowfullscreen></iframe> .