Obama’s Team .. What it means …
“Relying on Mr. Volcker Sen. Obama’s team of economic advisers includes two former Treasury secretaries, Robert Rubin and Lawrence Summers, and in some decisions, Mr. Volcker doesn’t reign supreme. The candidate’s latest proposal, for example, a $60 billion stimulus package, was initially fought by the former Fed chief on the grounds that Americans were already overspending. Moreover, he is unlikely to take a long-term role in any Obama administration. …
In early January 2008, when Sen. Clinton was pounding her rival over his lack of experience and stature, Sen. Obama phoned Mr. Volcker to ask for his endorsement. (At that time, billionaire investor Warren Buffett had refused to take sides between the Democratic contenders, saying he would support whoever got the nomination.) Mr. Volcker, a longtime Democrat who had mostly stayed out of partisan politics, agreed, and wrote out his statement in longhand.”
Let us see .. what this means …
Lawrence Summers (correctly) described the current global financial system as a “balance of financial terror”. Lawrence Summers could not have been more clear than this. In a speech on March 23, 2004, at the Institute for International Economics, Lawrence Summers described the US strategy. Again on March 24, 2006, at the Reserve Bank of India lecture, he repeated his message.
Paul Volcker presided over the transition from Bretton Woods-I to Bretton Woods-II – where the anchor for the US dollar changed from gold to oil.
Warren Buffett has been long on silver and short on the dollar or the last 4-5 years at least.
Bernanke threatened the world with ‘helicopter dropping of dollars.’ He informed the whole world that the ‘printing press technology’ would be used for increasing dollar supply. Lastly, he was also very clear, that he is NOT going to share M3 money information – about how much money he was going to print.
You can’t blame these guys. They were clear and upfront about the fraud they were perpetrating.
Summers is more famous for
The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping – and unprepared. But, not 2ndlook – who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.