Thousands of demonstrators take part in 'Put People First' march through central London, 28 Mar 2009
This will be an important week for gold as the G20 convene in London, George Soros warns that this is make or break for the world economy and thousands of people take to the streets to vent their frustrations.
It is difficult to imagine that this G20 group meeting is nothing more than a talk fest with little in terms of positive actions coming out of it. However our national leaders are beating the drum of co-operation, unity and co-ordinated action as depicted by the following clips:
MOSCOW, March 29 (Xinhua) -- Russian President Dmitry Medvedev said on Sunday that it was necessary for G20 leaders to reach an agreement at the coming London summit.
BEIJING, March 29 (Xinhua) -- Chinese Vice Premier Wang Qishan has called on the international community to "act together" at the upcoming London summit to get through the global financial crisis, in an article published by the British newspaper The Times on Friday.
Australian Prime Minister Kevin Rudd has said the preparations for the London Summit have demonstrated global cooperation on an unprecedented scale in modern times. Speaking on BBC-TV, Mr Rudd said he was confident that this week's G20 meeting in London would agree on a coordinated approach to the global financial crisis.
German Chancellor Angela Merkel has also spoken of her optimism about 'good results in all areas' at Thursday's summit. However the German government is not that supportive of the 'print more money and throw it at the problem' solution.
Gordon Brown's management of the UK's gold sales, against the advice of the Bank of England, was pure amateur. To dispose of 400 tonnes of UK gold via an auction as though it was scrap metal leaves us speechless and now he wants to administer medicine to the worlds economy, please!
As we see it there is only one thing more frightening than a political leader taking action and that is a gaggle of them joining forces to inflict more of their ill thought out strategies upon us. Most of our leaders are career politicians and their main objective is to ensure their own survival, they have little in the way of business experience and therefore are not qualified to legislate in these matters.
Our expectation is that this most important meeting of meetings will result in the publication of an ambiguous all embracing statement encompassing a strategy for the way forward. Shortly afterwards each government will revert to self defence in their actions and do their own thing. The Americans and the British will print their socks off and purchase more toxic paper resulting in a massive present and future taxation burden for their workers who are already up against the wall with rising unemployment and house repossessions. Both of these once mighty currencies are poised to crash as the rising price of gold over the last seven years has been telling us. We draw your attention to the speed and the magnitude of the financial stimuli that is being administered today and ask you once again to consider the virtues of owning precious metals in these uncertain times.
And finally a novel idea from Arkady Dvorkevich, the Kremlin's chief economic adviser, who said that Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund.
Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal, according to the Telegraph.
This week is now shaping up to be very interesting indeed so stay tuned as the ghost of the gold standard casts its shadow across the Thames.
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