The London G20 meeting is looking likely to end in tears
The differences among the various members of the G20 are so big it is looking likely the much anticipated meeting will deeply disappoint all concerned. First of all while much of the developing world supports the Chinese/Russian plan for a new global currency run by a reformed IMF, the Americans are against it and the Europeans are split. The committee of 300 engineered the US financial collapse in the hopes of making the privately owned BIS the issuer of a world currency so the Chinese plan has put them into a state of shock.
The real problem is that the criminal cabal that controls the US is increasingly isolated and disliked. The entire world is watching in disgust and horror as they try to get American taxpayers and other countries to bail out criminal bankers who engineered the biggest Ponzi scheme in history. The Federal Reserve Board, meanwhile is using every trick it can think of to fool the rest of the world into accepting some of the $15 trillion in funny money it has printed since last September. The Americans are also fighting efforts to shut down all those offshore tax havens that shelter the world’s criminal elite.
British/US relations are also at an all time low with MI6 leaking US secrets all over the internet and to other countries.
So it is that while the Bretton Woods meetings that set up the post war financial system lasted 22 days, the G20 will only meet for 4 and 1/2 hours. Unless some big changes come soon the G20 will issue a very disappointing statement vaguely calling for greater regulation of derivatives and papering over all the giant cracks. Many will call for a solution to be postponed until July. It is looking increasingly likely the world’s creditor nations will have to take the financial nuclear option and dump their treasuries while unilaterally converting their own US dollar holdings into a new currency.