Watered-down currency deal ends G20 summit

However US President Barack Obama has given a positive assessment, reporting real progress, amid Washington’s so-called currency war with China.

“We agreed that exchange rates must reflect economic realities,” he told a news conference.

“Just as the major advanced economies need to keep working to preserve stability among reserve currencies, emerging economies need to allow for currencies that are market-driven.
B92

Iam not sure he understands what he's talking about.Currency markets right now are not driven by the markets but by the non-stop dollar printing of the Federal reserve.To confirm this here are some comments from world leaders:

From the central bank president of Brazil, Henrique Meirelles: "Excess liquidity" resulting from QE2 is creating "risks for everyone"

From the vice foreign minister of China, Cui Tiankai: "Many countries are worried about the impact of the QE2 on their economies. It would be necessary for someone from the Fed to step forward and give us an explanation"

From the finance minister of Germany, Wolfgang Schäuble: calling Bernake's gambit "clueless" •

Now the idea that if China appreciates its currency will make Western products more attracted is just as laughable.
Why would countries like china and India want to buy products made in the UK and US when their own products are so much cheaper. The western rich elites have just spent 20 odd years sending all the jobs overseas to increase their personal profits at the expense of normal people's jobs.
NOW they want us to believe they champions of western manufacturing.What complete crap they're treating us like the idiots we have become.

There is no doubt the world we're living today is becoming more dangerous as days go by.My gut feeling is there is a real possibility those elites might lead the world to kingdom come if we allowed them to do so.It's up
to the ordinary people to stop the incoming madness.

Niceties aside, here's the reality! --> http://www.msnbc.msn.com/id/40143947/ns/business-world_business

Ooooooohh ..... how dare the G20 countries defy the almighty Yankees? :)

"Now the idea that if China appreciates its currency will make Western products more attracted is just as laughable. "

You are absolutely right.

"Why would countries like china and India want to buy products made in the UK and US when their own products are so much cheaper. The western rich elites have just spent 20 odd years sending all the jobs overseas to increase their personal profits at the expense of normal people's jobs.
NOW they want us to believe they champions of western manufacturing.What complete crap they're treating us like the idiots we have become. "

I fully agree again.

"There is no doubt the world we're living today is becoming more dangerous as days go by.My gut feeling is there is a real possibility those elites might lead the world to kingdom come if we allowed them to do so.It's up
to the ordinary people to stop the incoming madness."
Leonidas

Yes, the incoming madness is pretty scary. The problem - as I see it - is that most of the ordinary people are not fully aware of it.

Yes, the incoming madness is pretty scary. The problem - as I see it - is that most of the ordinary people are not fully aware of it.
(Joe, 13 November 2010 01:49

Iam glad that you agree with me on the above point because
a lot of people are delude thinking that the good old days of tha 1950s and 1960s will be back with us again.

The financial crisis in western countries ia taking its toll.I was watching a news clip from the US the other night showing the effects of unemployment on ordinary people.It was in Sacramento city where a shanty town was formed by unemployed people on the outskirts of the city-people losing their jobs and houses living in tents with their families.

The situation in Europe is not better.After Greece we have the imminent bailout for Ireland and it won't be the last.Just take a look at the bottowing costs of Portugal and Spain.This cannot possibly continue indefinitely.If Spain goes the European currency will be toast and the end of the EU as well.The consequences of this happening are hard to contemplate.

Niceties aside, here's the reality! --> http://www.msnbc.msn.com/id/40143947/ns/business-world_business

Ooooooohh ..... how dare the G20 countries defy the almighty Yankees? :)

However US President Barack Obama has given a positive assessment, reporting real progress, amid Washington’s so-called currency war with China.

“We agreed that exchange rates must reflect economic realities,” he told a news conference.

“Just as the major advanced economies need to keep working to preserve stability among reserve currencies, emerging economies need to allow for currencies that are market-driven.
B92

Iam not sure he understands what he's talking about.Currency markets right now are not driven by the markets but by the non-stop dollar printing of the Federal reserve.To confirm this here are some comments from world leaders:

From the central bank president of Brazil, Henrique Meirelles: "Excess liquidity" resulting from QE2 is creating "risks for everyone"

From the vice foreign minister of China, Cui Tiankai: "Many countries are worried about the impact of the QE2 on their economies. It would be necessary for someone from the Fed to step forward and give us an explanation"

From the finance minister of Germany, Wolfgang Schäuble: calling Bernake's gambit "clueless" •

Now the idea that if China appreciates its currency will make Western products more attracted is just as laughable.
Why would countries like china and India want to buy products made in the UK and US when their own products are so much cheaper. The western rich elites have just spent 20 odd years sending all the jobs overseas to increase their personal profits at the expense of normal people's jobs.
NOW they want us to believe they champions of western manufacturing.What complete crap they're treating us like the idiots we have become.

There is no doubt the world we're living today is becoming more dangerous as days go by.My gut feeling is there is a real possibility those elites might lead the world to kingdom come if we allowed them to do so.It's up
to the ordinary people to stop the incoming madness.

"Now the idea that if China appreciates its currency will make Western products more attracted is just as laughable. "

You are absolutely right.

"Why would countries like china and India want to buy products made in the UK and US when their own products are so much cheaper. The western rich elites have just spent 20 odd years sending all the jobs overseas to increase their personal profits at the expense of normal people's jobs.
NOW they want us to believe they champions of western manufacturing.What complete crap they're treating us like the idiots we have become. "

I fully agree again.

"There is no doubt the world we're living today is becoming more dangerous as days go by.My gut feeling is there is a real possibility those elites might lead the world to kingdom come if we allowed them to do so.It's up
to the ordinary people to stop the incoming madness."
Leonidas

Yes, the incoming madness is pretty scary. The problem - as I see it - is that most of the ordinary people are not fully aware of it.

Yes, the incoming madness is pretty scary. The problem - as I see it - is that most of the ordinary people are not fully aware of it.
(Joe, 13 November 2010 01:49

Iam glad that you agree with me on the above point because
a lot of people are delude thinking that the good old days of tha 1950s and 1960s will be back with us again.

The financial crisis in western countries ia taking its toll.I was watching a news clip from the US the other night showing the effects of unemployment on ordinary people.It was in Sacramento city where a shanty town was formed by unemployed people on the outskirts of the city-people losing their jobs and houses living in tents with their families.

The situation in Europe is not better.After Greece we have the imminent bailout for Ireland and it won't be the last.Just take a look at the bottowing costs of Portugal and Spain.This cannot possibly continue indefinitely.If Spain goes the European currency will be toast and the end of the EU as well.The consequences of this happening are hard to contemplate.