Showing posts with label G20 Scotland. Show all posts
Showing posts with label G20 Scotland. Show all posts
Thursday, November 12, 2009
Saturday, November 7, 2009
(Act Surprised) U.S. Treasury Secretary Timothy Geithner said a “day-by-day” tax on speculation is “not something we’re prepared to support.” at G20
http://www.bloomberg.com/apps/news?pid=20601103&sid=aEzHydQvgE9c
Geithner, Brown Split on Tobin Tax at Group of 20 Meeting
Geithner, Brown Split on Tobin Tax at Group of 20 Meeting
Nov. 8 (Bloomberg) -- Group of 20 governments split on whether to tax financial trading as part of a broader strategy to ensure the global economy’s expansion is less crisis-prone.
U.K. Prime Minister Gordon Brown told a meeting of finance chiefs in St. Andrews, Scotland yesterday that such a levy could prevent excessive risk taking and fund future bank rescues, adding momentum to a debate begun by France. U.S. Treasury Secretary Timothy Geithner said a “day-by-day” tax on speculation is “not something we’re prepared to support.”
The dispute over a so-called Tobin tax suggests that the unity the G-20 showed in battling the worst financial crisis since the Great Depression is unraveling as its focus intensifies on how far to rein in the banking system. The outcome may determine the strength of markets as the recovery builds as well as the scope for banks to profit from them.
“The initial market reaction to talk of a Tobin tax is likely to be negative,” said Julian Jessop, a former U.K. Treasury official and now chief international economist at Capital Economics Ltd. in London.
A day after U.S. data showed the unemployment rate rose more than economists forecast to a 26-year high, the G-20 also agreed to keep stimulating their economies until recoveries take hold. They mapped out a time plan to show how they will make growth across the world more even and less reliant on Chinese savings and U.S. domestic demand. FULL STORY
Cave Editor's Note - Just tax the taxpayers - not the banksters and wall street gamblers??
Our own banksters - Bernanke and Geithner - for their G20 picture in Scotland
Getty Images
ST ANDREWS, SCOTLAND - NOVEMBER 07: G20 finance ministers and bank govenors gather for the family photograph on November 7, 2009 in St Andrews, Scotland. G20 finance ministers have gathered in St Andrews for a G20 summit where they will discuss global economic stimulus packages and the cost of paying for climate change.
Warren Buffett And The G20
November 7, 2009 - The G20 Finance Ministers and Central Bank governors are meeting today in St. Andrews, talking about the data they will need to look at in order to monitor each other’s economic performance and sustain growth (seriously).
The underlying idea is that if you talk long enough about the US current account deficit and the Chinese surplus, stuff happens and the imbalances will take care of themselves – or move on to take another form.
Warren Buffett seems to agree.
Buffett’s big investment in railroads looks like a shrewd way to bet on growth in emerging markets – which is where most incremental demand for US raw materials and grain comes from. It’s also a polite way to bet against the dollar or, even more politely, on an appreciation of the renminbi. FULL STORY
Friday, November 6, 2009
eGovMonitor.com | G20 finance ministers meet in St Andrews for 2-day event 6-7 November - attended by Timothy Geithner, the US Treasury Secretary
On 6-7 November, Minister for Finance Anders Borg will participate in the G20 finance ministers meeting in St Andrews, Scotland.
Why another G20 meeting?
The meeting in St. Andrews is a follow-up to the G20 meeting in Pittsburgh, where the finance ministers were tasked with continuing their work on climate, exit strategy and framework issues. The global crisis requires internationally coordinated measures and we are now well on the way to agreeing such measures in a large number of areas.
What will be the main issues at the meeting?
Within the G20 Framework for Strong, Sustainable, and Balanced Growth, the finance ministers, in cooperation with the IMF, will start the process for a mutual assessment of countries' economic policies. This is an important step in global cooperation aimed at minimising the risk of experiencing new crises like that we are now undergoing.
Furthermore, the G20 finance ministers, with the support of the IMF and the Financial Stability Board, will develop cooperative and coordinated strategies for exiting the stimulus measures required in the past year. Such exit strategies are necessary to achieve long-term sustainability in the global economy.
What can come out of the meeting in the climate area?
Our hope is that the discussions in the G20 can provide the necessary momentum leading up to the UN climate meeting in Copenhagen. In St Andrews, the Presidency will argue the EU position on the importance of a major increase in resources to finance measures to fight climate change and swift action to meet the acute climate problems.
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Monday, October 26, 2009
GlobalResearch.ca | Bob Chapman - Fall of the Dollar on G-20 Finance Ministers Agenda
October 26, 2009 - The G-20 finance ministers meet in Scotland on November 6th and 7th, and they will all be bleating about the fall in the dollar. France started this week, and the others will follow. Their currencies are rising in value and they do not like it. We expect other nations to follow, Mexico and Brazil in imposing a 2% tax on incoming funds and others will print their currencies and buy dollars to reduce the value of their currencies and at the same time buy US Treasuries that are decreasing in value. .....
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