Sep 09, 2011

Rumor on Wall Street has it that there is going to be a very important decision this week end that will involve the "global" banking system. Many or all of the central banks in the world will be involved in an attempt to resolve the world's sovereign debt crisis, they say. An economist from Cantor Fitzgerald tells us this in a Fox News interview here:

http://video.foxbusiness.com/v/1149546801001/buy-stocks-that-benefit-from-inflation/

He was likely speaking of the economic summit of the G7 countries that begins today (Friday).

http://news.yahoo.com/g7-seek-ways-prop-global-economic-growth-source-175347280.html

So the question is: will they bring out the same old tired policies that have served as bandaids on a fatal wound? Don't expect them to do away with the debt-money system. But it makes one wonder if such a "global solution" might be the long-awaited revaluation of the Iraqi dinar, which has long been expected to "bail out" the nations of the world with a fresh influx of new cash.