Mervyn King in 2012: Debt restructurings and a recapitalization of the financial system might be needed

Posted: 4th Jul 2014
Author: Willem Middelkoop

It is almost two years ago that the former Bank of England Governor Mervyn King predicted advanced economies would probably not be able to get out of the current crisis without  large debt restructurings and a recapitalization of the financial system (read banks). In this Bloomberg article he is quoted as saying; “I am not sure that advanced Read the full article…

Sarkozy and Brown called for a ‘new Bretton Woods’ in 2008

Posted: 17th Jun 2014
Author: Willem Middelkoop

  According to a IMF historian James M. Boughton the French President Nicolas Sarkozy and British Prime Minister Gordon Brown called for a ‘new Bretton Woods’ agreement in October 2008, shortly after the fall of Lehman Brothers. We quote mr. Boughton; ‘What Sarkozy and Brown envisaged was a new multilateral agreement to stabilize international finance in Read the full article…

Former Fed chairman Paul Volcker proposes a Big Monetary Reset (A new Bretton Woods)

Posted: 8th Jun 2014
Author: Willem Middelkoop

Because we don’t have much time we quote Zerohedge.com on this story; One of the conventional justifications by tenured economists for a fiat currency regime, especially as a replacement for a gold, or other hard currency, standard, is that the financial system has been far more stable under a non-gold standard regime. While we have frequently Read the full article…