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The Puzzle of an inactive Britain

October 27, 2008 Leave a comment

Bloomberg.com: Europe

Oct. 27 (Bloomberg) — German Chancellor Angela Merkel and U.K. Prime Minister Gordon Brown will discuss ways of shoring up the global economy when they meet in London this week, Brown’s office said.

The meeting, scheduled for Oct. 30, will include discussions to prepare for talks on global banking regulation in Washington next month.

“The economy is likely to be by far the most significant issue they discuss,” Brown’s spokesman Michael Ellam told reporter in London today.

The whole world is in a flap …

And not a word out of Britain. Nearly a decade ago, while Europe was moving towards the Euro currrency zone, Britain held out, protested too much – and finally decided against it.

Because they were getting the benefits of the Bretton Woods-Oil-dollar benefits. London re-invented itself as a financial centre as a result.

Now, again, Britain is in the background. It is not on the dollar side – or the Euro side. And Angela Merkel is trying to get Britain to jump ship.

Britain will wait. And finally join the winning side – if any.

That is the way I see it, for now at least.

U.S. has plundered world wealth with dollar: China paper | U.S. | Reuters

October 27, 2008 Leave a comment

U.S. has plundered world wealth with dollar: China paper | U.S. | Reuters

“The grim reality has led people, amidst the panic, to realize that the United States has used the U.S. dollar’s hegemony to plunder the world’s wealth,” said the commentator, Shi Jianxun, a professor at Shanghai’s Tongji University.

Shi, who has before been strident in his criticism of the U.S., said other countries had lost vast amounts of wealth because of the financial crisis, while Washington’s sole concern had been protecting its own interests.

“The U.S. dollar is losing people’s confidence. The world, acting democratically and lawfully through a global financial organization, urgently needs to change the international monetary system based on U.S. global economic leadership and U.S. dollar dominance,” he wrote.

Shi suggested that all trade between Europe and Asia should be settled in euros, pounds, yen and yuan, though he did not explain how the Chinese currency could play such a role since it is not convertible on the capital account.

Late In the day, Mr.Hu … This is something that the world has been talking about for a long time. China has been a major supporter (and victim) of this scam – by allowing US companies unlimited access and support. Chinese citizens have been duped with low paying jobs at these enterprises.

Is China forgetting history … Mr.Hu – Today it is the US – but yesterday, it was Europe, Mr.Hu. Europe was blockaded by the US for the last 100 years – and hence, European loot is possibly forgotten in China. European loot was accompanied by a lot of bloodshed and killing also, Mr.Hu.

Has the Leopard Changed its spots Possibly, you dont know, Mr.Hu, because China has very little wildlife left. Leopards dont change their spots. Europe behaves today, because it has no options.

The answers A new currency floated by the five major economies who are most affected today – China, Russia, India, Brazil, South Africa. Maybe Japan will also join in. But, the answer, Mr.Hu is with these 5 – and not Europe.

A blog reader pointed this report out …

This report was pointed out by a Quicktake blog reader. Thanks dsylexic.

Announcement

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.

On and After November 15th – What Will Hapen

October 26, 2008 Leave a comment

Global financial crisis summit set for November 15- International Business-News-The Economic Times

WASHINGTON: President George W Bush will host a summit on November 15 in Washington, DC, area to discuss the global financial crisis and ways to prevent it from happening again, the White House announced on Wednesday.

“This will be the first in a series of summits that bring together leaders from countries that participate in the G-20 finance process to discuss current economic challenges.

The so-called G-20 includes the Group of Seven advanced industrial countries and the European Union as well as China, Brazil, India, Russia, South Korea and other major economies.

At the first meeting, working groups will be set up to develop recommendations to be considered by leaders in subsequent summits.

The DragoBear Dance

The DragoBear Dance

Earlier Quicktake Tripolar Currency System – Connecting the dots – Part II recorded what is the likely outcome – which has happened till now.

The New 5

The real action will be 5 countries – Russia and China on one hand – and India, South Africa and Brazil on the other.

The DragoBear Dance

Russia and China as significant military powers as well as a part of P5, will want their pound of flesh. They will, of course, be afraid of being left out! The US will not have them and the EU does not want them!

Three Horsemen Of Apocalypse

The G3 (i.e. India, South Africa and Brazil) have functioning democracies, decent regulatory systems (which can be ramped up), the technology platforms, the trading systems, a vibrant entrepreneurial class – all of which is powering their economies forward. What they don’t have is P5 status – which is useful, though not essential.

This Washington meeting

During the con-fab, ‘committees will be set up’ which create mechanisms for this management.

The big issue for the developing world will be obtaining assurances against predatory raids by the dollar bloc and the Euro-zone to dismantle any new system – like the alleged plot of 1997 Asian crisis.

The lesser issues will also be inter-bank settlements, anchoring currencies (the role of gold or bullion).

Announcement

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.

Pope suspends and summons Indian Bishop

October 26, 2008 2 comments

A newspaper reports that

Pope Benedict XVI has suspended a Kerala bishop for adopting an unmarried woman in violation of canon law and ordered a three-member panel to probe all the charges against him.

The Vatican is a Nation

How welcome would fatwas from the holy mosques of Middle East be in Europe, Your Holiness?

The Indian Government allows a foreign Government (Vatican is a country), to interfere in the religious matters of Indians? What gives the Holy See the right to impose their will on Indian Christians? Would the Indian Government accept if the Grand Mufti were to issue fatwas to Indian Muslims …! Would the EU accept that …if the Grand Mufti of the Al Ahram mosque did that to 10 million Muslims in Europe? His Holiness would see crimson …

One blog reader did a Quicktake and commented …

If an American Muslim adopted someone according to his choice following American law. Does a mullah in Saudi Arabia have the authority (moral or legal) to restrict it?

Could he? Should he?

Why the naivete? Why a double standard for India? Simply because Indic ideals do not force dogma on others does that mean that Indians (Christian or not) should accept foreign dogmas?

…Attempting to supersede Indian laws on adoption. India has its own personal laws – that do make allowances for variations. Do you think that the constitution defers to adoption laws in case of Catholics to Papal or any foreign authority?

It is this interference in religious practices of Indians that makes the missionaries suspect, in Indian eyes. What further aggravates the Indian is the apparent disinterest by the Indian Government in such meddling by foreign authorities in practice of religion by Indians! And then to listen to them teaching us about religious tolerance …?

The Vatican has a long history of being political. It should not be – and cannot be treated like a religious body.

Personal choice

Religion, I thought also meant freedom. Celibacy, again I thought, was personal decision. How can any ‘foreign authority’ decide personal matters of Indians? If the Bishop has done something unacceptable, his ‘flock’ will surely let him know. How is it that a ‘head of a foreign state’ interferes in the private life of an Indian citizen?

In matters of faith, the person’s belief is paramount. No Pope (or anyone else) has any authority over that.

If I may remind you, people tried that to Jesus also. Jesus was told clearly that there was a higher religious authority than him.

He who pays the piper calls the tune …

Because foreign Christians fund the missionaries, they are calling the tune …. I thought there were strict laws against this …

The saga continues

The Pope (a head of a foreign country) institutes an enquiry commission, suspends, summons an Indian nationals – and question their religious beliefs. Not a squeak. Not a word. No protest. I thought the Indian Government is here to protect Indians.

Manubhai …

And what is the Indian Government doing?  Siesta …

1. That the head of a foreign country decide matters of personal and private life of an Indian citizen 

2. Under the guise of religion, the Pope will interfere in personal lives of Indians …

3. Indians will allow a foreign religious authority to dictate to a 3 crore Christians In India …!

Manubhai … please read Church history a little more …

Religious Freedom

Referring to the authority of a foreign organization (like the Church) over Indians, again, is off the mark. How can any foreign organization, interfere in matters of faith in India.

In India, we must clearly eliminate all ‘foreign authority’ – which is implicit with religious freedom. The same Pope will of course not allow such a freedom to any foreign religious authority, in any Catholic country – to believers in any other religion. You have only to look at Bosnia and Herzegovina, in the last decade.

Indians must and will have total religious freedom – PERIOD.

New Global Reserve Currency – India seems directionless …

October 25, 2008 5 comments

India outlines steps to deal with global financial crisis-Intl Business-Business-The Times of India

India … outlined the steps it wants taken to lift the global economy out of the current financial morass. Addressing leaders of 45 Asian and European countries at the ASEM summit here, PM Manmohan Singh said the first step would be to “de-clog” the global credit markets which had choked up as a result of the crisis.

Second, multilateral financial institutions (MFI) like World Bank and IMF should step in with larger resources to invest in large infrastructure projects in developing countries, which can act as a stabilizer in the global economy. …

It is now clear that India would certainly be present at the November 15 G-20 summit in Washington. … US President George Bush has called up Singh to personally ask him to be present. In what was clearly a global reversal of roles, European countries repeatedly asked Asia to lead the way out of the crisis. N Ravi, secretary (east) in the MEA, told reporters that all EU leaders asked Asian countries to refrain from withdrawing into “economic nationalism”.

Either … or …

India seems to completely lack direction on how to move independently in times like these. After, all why should India even look at IMF and World Bank – which are fig leaf organizations of the West, as transfer mechanisms of wealth from the Third World to the rich.

Or India is working on a different plan, of which we know nothing. After all, India does believe in moving steadily (even, if slowly).

Russia and China

US and EU have their own reserve currencies – leaving Russia and China out in the open. Russia and China (as full P5 powers) will want a ‘lion’s share’ of influence in any new architecture. Which any Third World grouping will not give.

Stalemate.

Japan + ASEAN

China-leaning Lee Kuan Yew with an Islamic Malaysia may not be very hot about ‘giving so much influence’ to a ‘new member’ like India for an ASEAN initiative.

Any action which hurts the US, their largest market and patron, will be something that will make Japan and ASEAN hesitate. The very economic model of ASEAN + Japan is undervalued currency + exports to the USA. Hence, they will be wary of any initiative that affects the USA – and the West.

Status Quo …

Interestingly …

Manmohan Singh is the only educationally qualified leader in the leadership line up of major world economies.

Announcement

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.

Pope summons Bishop to Vatican …

October 25, 2008 5 comments

Zee News – Kerala Bishop news- Pope summons Bishop to Vatican

“The Pope has summoned Thatunkal to the Vatican to gather first hand information about the adoption row and other allegations against him,” Kerala Catholic Bishops council (KCBC) secretary and spokesperson Father Stephen Althara told agencies.

The Bishop was suspended following his decision to adopt the woman from Pathnamthitta as his daughter.

The Pope had yesterday issued a decree suspending the Bishop and appointing Verapoly Archbishop Daniel Acharuparambil as Apolistic administrator of the Kochi diocese.

The saga continues

Not a squeak. Not a word. No protest. How can the Pope (a head of a foreign country) institute an enquiry commission, suspend, summon, Indian nationals – and question their religious beliefs.

And what is the Indian Government doing? Siesta Manubhai …

Categories: Politics, Uncategorized

Kenya set to get truth commission

October 25, 2008 Leave a comment

BBC NEWS | Africa | Kenya set to get truth commission

Kenya’s parliament has approved a Truth, Justice and Reconciliation Commission (TJRC) to probe human rights abuses since independence in 1963.

The Break From Hammurabic Laws

In the last 500 years, Hammurabic legal systems (based on retribution) used by the ‘Desert Bloc’ (Judaic, Christian and Islamic societies) has gained precedence in the world – delivering an eye-for-an-eye justice. The result, the US with the world’s largest prison population.

The Lipit Ishtar-Hittite-Chanakya-Indic systems (LHCI) legal systems based on compensation and avoidance have lost following. Nelson Mandela’s Truth and Reconcilaition Commission (as opposed to Nuremberg trials) was a significant step in regaining lost ground by the LHCI legal system.

Categories: History, Politics

EU restores diplomatic ties with Cuba.

October 25, 2008 Leave a comment

BBC NEWS | Americas | EU formally renews ties with Cuba

European Commissioner Louis Michel said the accord he signed with Cuban Foreign Minister Felipe Perez Roque was “a turning point for EU-Cuban relations”.

Mr Perez Roque welcomed its respect for the island’s political independence.

It will now receive 2m euros ($2.6m) of emergency hurricane recovery aid, with 30m euros ($38.9m) available next year.

An EU delegation will return to Cuba in November to determine the needs and priorities for the financing to be made available in 2009.

Another dot …

Is this another step in the European offensive to take advantage of the current US financial crisis – to gain alliances or neutrality from anti-US countries. The crisis at home in Europe is bad enough – and they have time to give aid to Cuba.

Tell me another story!

Announcement

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.

Pope bars bishop for adoption … What was that again …!

October 24, 2008 4 comments

The Telegraph – Calcutta (Kolkata) | Nation | Pope bars bishop for adoption

Pope Benedict XVI has suspended a Kerala bishop for adopting an unmarried woman in violation of canon law and ordered a three-member panel to probe all the charges against him.

The Kerala Catholic Bishops’ Council spokesperson, Fr Stephen Alathara, said Kochi bishop John Thattungal today received a papal decree asking him to hand over charge to his immediate senior, Archbishop Daniel Acharuparampil.

Bishop Thattungal, 58, had adopted Sonia, 26, as his spiritual daughter at the office of the sub-registrar in Mattancherry on September 15. The woman spent a few days at the guest house on the premises of Bishop’s House. A priest of the Orthodox Church who had adopted Sonia as a child was also with her at the guest house.

Archbishop Acharuparampil will hold charge of the Kochi diocese during the probe.

The Holy See action came on a report submitted by its representative in New Delhi, Archbishop Pedro Lopez Quintana.

The Vatican is a Nation

The Indian Government allows a foreign Government (Vatican is a country), to interfere in the religious matters of Indians? I thought the Indian Government is here to protect Indians. What gives the Holy See the right to impose their will on Indian Christians? Would the Indian Government accept if the Grand Mufti were to issue fatwas to Indian Muslims …!Would the EU accept that …

He who pays the piper calls the tune …

Because foreign Christians fund the missionaries, they are calling the tune …. I thought there wre strict laws against this …

Categories: Uncategorized

Vatican suspends Indian bishop over “adoption” row – International Herald Tribune

October 24, 2008 Leave a comment

Vatican suspends Indian bishop over “adoption” row – International Herald Tribune

The Vatican has suspended a bishop in the south Indian state of Kerala after a furore over his adoption of a young woman as his “spiritual daughter,” the state’s Catholic bishops’ council said.

From 6000 miles away …

Just why would an alien far off figure, who has not visited India even once decide on what Indians do! How welcome would fatwas from the holy mosques of Middle East be in Europe, Your Holiness?

It is this interference in religious practices of Indians that makes the missionaries suspect, in Indian eyes. What further aggravates the Indian is the apparent disinterest by the Indian Government in such meddling by foreign authorities in practice of religion by Indians!And then to listen to them teaching us about religious tolerance …?

Manubhai …

Categories: Politics
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