Financial crisis

The recent stock market downturn and freezing up of the credit system has sent the world into a tailspin. Fear is on every side - and FEAR it what it takes to get the world to accept power grabs by governments. World leaders are telling us that they need to act in unison to prevent the meltdown of our worldwide financial systems.

It is reported on debkafile the following:

"The only Western leader to address this problem head-on was Italian prime minister Silvio Berlusconi. At a government session in Rome, Oct. 10, he revealed: “The idea of suspending the markets for the time it takes to rewrite new rules is being discussed.” Berlusconi added: “They can’t just be for one country, or even just for Europe, but global.”

"This remark was quickly retracted after a phone call from the White House in Washington, according to our sources, because it opens up the even more problematic question of who is competent to lead the rewriting of the rules. However, the IMF, high priest of the gospel that the market knows best, has already turned around and is calling for more international regulation and oversight on global finance, a further retreat from its basic tenets. " read more »