East vs. West?
posted on
Nov 07, 2008 06:04AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
So, Robert Rubin has turned down any potential offers of "employment" as a replacement for Hank or any other position. I guess he realizes he has been exposed.
As for the grand plans of the "illuminists" and western centric power mongers, it appears there is a bit of a flaw in their schemes. Looks like some of the new kids on the block have their own ball park (paid for), paying fans (cash flow), all star league and they even produce their own equipment.
President of Russia: Address to the Federal Assembly of the Russian Federation
November 5, 2008
Grand Kremlin Palace, Moscow
SNIPS:
I think that this idea that emerged in the United States after the Soviet Union collapsed that its view is the only indisputably correct view led the U.S. authorities also into making serious economic miscalculations. They let this currency bubble grow in the interests of stimulating domestic growth but did not bother coordinating their decisions with the other players on the global markets and neglected even the most basic sense of measure. They did not listen to the numerous warnings from their partners (including from us). As a result they have caused damage to themselves and to others……
We need to engage in continuous dialogue with our partners to form the new rules of global financial architecture as rapidly as possible. Having a monopoly in this sphere was not merely inadequate for the realities of today’s global economy, it was also dangerous for all concerned. And therefore a new financial architecture should protect the interests of all of its participants. And we must not allow it to be instrumentalised by any one country or group of countries, or one economic system that will make others pay for its gross errors……
As you know, the G20 decided to meet in Washington on November 15. We prepared our suggestions on the basic principles for creating a new economic architecture and sent them to our partners……..Mandates for these tasks should be distributed among existing or newly formed international organisations and regional ones as well. And the world’s leading countries must guarantee their effectiveness……..
Already before the end of this year we must adopt a package of laws that creates a foundation for turning Russia into one of the world’s leading financial centers. And such a centre should act as the nucleus of an independent and competitive Russian financial system……
We need to take practical steps to boost the rouble’s role as one of the currencies involved in international payments. And finally we need to move over to settlements in roubles – that we have unfortunately delayed – for raw materials exports, and above all oil and gas exports. We must encourage issuing new securities in roubles and preferably in the Russian market. The ultimate goal of all these processes is to make the rouble a regional currency.
I think that such actions will be taken by other fast growing countries as well. But the more powerful financial centres there are in the world and the greater our interdependence, the safer and more sustainable global development will be.