What can we hope for from this Summit? Each country taking part has its own agenda and priorities. The UK, with its economy very dependent on its Financial Services sector, needs to see foreign cash flowing back into "The City" and is looking to other countries embarking on money creation policies. The USA above all …
During my commentary on the credit crunch, I had a brief look at the World monetary system which has been at the root of the current crisis. The cornerstone of the Bretton Woods agreement, convertibility of the USA Dollar into gold, was abandoned in 1971 and “free floating” currencies have ruled the roost. The early …
I feel I need to return to consider two of the points I raised in my commentary on the Credit Crunch. However, let me try and give some context to what I am saying. At the time of Gordon Browns announcement of of his “rescue package”, while he was still in that (“leave it to …