Come, Lord Jesus.
***
Clashes continue between Arab-Jewish residents of Acre
In the third consecutive evening of clashes between Jewish and Arab residents of Acre, police were yet again forced to respond to riots taking place in the northern city's eastern neighborhood early Friday night. At least four Jewish residents were arrested while police subdued the crowds.
Police closed off the eastern entrance and special forces and Border Police forces armed with crowd control gear were preparing to enter the area if called.
Nuclear aid by Russian to Iranians suspected
PARIS: International nuclear inspectors are investigating whether a Russian scientist helped Iran conduct complex experiments on how to detonate a nuclear weapon, according to European and American officials. As part of the investigation, inspectors at the International Atomic Energy Agency are seeking information from the scientist, who they believe acted on his own as an adviser on experiments described in a lengthy document obtained by the agency, the officials said.
The officials, who spoke on the condition of anonymity because the investigation is under way, said that the document appeared authentic, without explaining why, but they made it clear that they did not think the scientist was working on behalf of the Russian government.
Still, it is the first time that the nuclear agency has suggested that Iran may have received help from a foreign weapons scientist in developing nuclear arms.
The coming train-wreck in Lebanon
Over the past several weeks, both Washington and Jerusalem have spelled out clear policies relating to the situation in Lebanon. The two policies contradict one another, and by adopting them, the US and Israel are on a collision course.
...
ONE OF the common features of both countries' policies towards Lebanon is their utter neglect of the lessons of previous American and Israeli failures in the country.
The 1983 US peacekeeping mission in Beirut is rightly considered one of the gravest failures in US military history. The stated aim of the deployment of US Marines was to help the Lebanese army assert control over the capital city and then expand its control to the suburbs of Beirut and gradually over the entire country.
...
The lesson of the US experience in Lebanon was clear: You cannot assume that favored actors are trustworthy or competent allies just because it is politically expedient to believe they are. Reality is what it is, and if you wish to change it, you first must acknowledge it.
Two wounded in Lebanon camp blast: Palestinian official
SIDON, Lebanon (AFP) — Two people were wounded on Friday in a bomb attack targeting an Islamist militant in a Palestinian refugee camp in southern Lebanon, a Palestinian official said.
The bomb in Ain el-Helweh camp targeted Imad Karum, a member of the Islamist Jund al-Sham faction, which has been locked in conflict with the mainstream Palestinian Fatah faction, he said.
Ain el-Helweh, located on the outskirts of the port of Sidon, is the biggest of the 12 Palestinian refugee camps in Lebanon.
The camps are considered extremely volatile places and a fertile breeding ground for extremist groups.
U.S. closer to nuclear deal with North Korea
WASHINGTON: U.S. officials said they believed they were close to a deal to end a stalemate with North Korea over its nuclear program, even as Pyongyang stepped up pressure on the Bush administration by barring international inspectors from all parts of a key nuclear complex.
The United States and North Korea have been fighting over a thorny verification issue that has held up a pact, meant to end the North's nuclear program.
The decision by North Korea on Thursday to bar the international inspectors was the latest move by the country aimed at getting United States negotiators to ease off demands for strict measures to verify whether the North is adhering to that agreement.
Saudi-owned TV website hit by cyber attack
DUBAI (AFP) — Computer hackers claiming to be Shiite shut down the website of Saudi-owned satellite channel Al-Arabiya on Friday, a month after Iran reported similar attacks on many of its websites by hardline Sunnis.
The website of the Dubai-based channel was taken over by the hackers who displayed a message which warned that "if attacks on Shiite websites continue, none of your websites will be safe".
The page also displayed a picture of an Israeli flag on fire.
Al-Arabiya issued a statement saying that its website had "come under organised cyber piracy performed by extremists".
The statement said that Al-Arabiya will continue to adhere to its policy of being "moderate, balanced and objective".
[hahahahahahahahahahahahaha-gasp-hahahahahahahahaha!!!!!!!!!!!!!!!!--Amanda]
'Deaths' in Guinea mine protest
[what's with the scare quotes? either they're dead or they're not. oy.]
Two people have been shot dead by security forces during a protest against a Russian company mining bauxite in Guinea, witnesses have said.
Scores of people are reported to have been wounded, seven of them seriously, during the clashes in Mambia.
The BBC's Alhassan Sillah in Guinea said locals had blocked trains carrying bauxite to the coast for export.
The mining company, Rusal, denies accusations that it failed to honour an agreement to provide public services.
U.S., France Anxious as Syria-Lebanon Tension Builds
A series of bombings in northern Lebanon and Damascus, followed by mutual accusations, are a matter of concern to world powers, including the United States and France. Both the U.S. and France warned Syria against any intervention in Lebanon in the wake of the deteriorating security situation on both sides of the Syrian-Lebanese border.
...
Lebanon, as well as the U.S. and France, is worried Syria will exploit the recent attacks to intervene in Lebanon using a false pretext. This concern was intensified after Syrian President Bashar Al-Asad's recent accusation, according to which northern Lebanon had become "a real base for extremism and constitutes a threat to Syria." The claim was made in an interview Al-Asad gave earlier this week to head of Lebanon's Journalists Union, Milhem Karam.
...
But Lebanon was not reassured by similar statements made by Syrian Foreign Minister Walid Al-Mu'alim. Some elements are smuggling extremist armed men over the Syrian border "in order to spread chaos and commit terrorist acts that target army officers and civilians," MP Sa'ad A-Din Al-Hariri, leader of Lebanon's Al-Mustaqbal Party, said following the Monday attack.
Iraqi PM discusses US pact with Muqtada al-Sadr
Iraq's prime minister met with Grand Ayatollah Ali al-Sistani on Friday and indicated the country's most influential Shi'ite cleric, Muqtada al-Sadr, would not try to block a long-term US security deal if it's approved by constitutional institutions.
Meanwhile, thousands of supporters of the anti-US cleric, who opposes an accord that would extend the US presence beyond the end of the year, marched through eastern Baghdad to mourn the killing of a Sadrist lawmaker.
US and Iraqi officials have said they are close to an agreement that would replace the UN mandate for American-led forces in Iraq, which expires on Dec. 31. But the thorniest issue of legal jurisdiction and immunity for US troops remains unresolved.
Dozens killed in Pakistan bombing
Twenty-seven people have been killed in a suicide car bomb attack at a meeting of tribal elders in a restive region of Pakistan near the Afghan border.
Eighty-one people were injured, many of them critically, in the blast in the Orakzai semi-autonomous tribal region.
The bomber struck as some 600 people held an open-air meeting to raise a militia to evict Taleban from the area.
Iraq: 13 dead, 27 wounded in car bomb
A car bomb killed 13 people Friday in a market in a Shi'ite enclave of southern Baghdad, police and hospital officials said. At least 27 people were wounded.
Two police officers said the car exploded at 4:30 p.m. in the main market area of Abu Dshir, a Shi'ite part of the majority Sunni neighborhood of Dora, a former insurgent stronghold. The casualties included women and children, they said.
The policemen and officials at two hospitals who gave casualty figures spoke on condition of anonymity because they were not authorized to speak to media.
Connecticut Supreme Court legalizes same-sex marriage
HARTFORD, Connecticut (CNN) -- The Connecticut Supreme Court ruled Friday that gay and lesbian couples have the right to get married.
The ruling makes Connecticut the third state, after Massachusetts and California, to decide its constitution mandates treating citizens equally when applying for marriage licenses, regardless of their sexual orientation.
...
In 2005, Connecticut began to allow civil unions, intended to be marriage in all but name, without being forced by its courts. Two years later, Connecticut's Legislature tabled a bill allowing marriage.
Eight same-sex couple sued the state, saying that civil unions were not equal to marriage and that Connecticut's Constitution guaranteed them equal treatment.
[Keep this in mind every time you hear activists say they're fine with compromise. They're not.]
U.N. Says 100 Migrants Feared Drowned Off Yemen After Forced Overboard by Smugglers
SAN'A, Yemen — About 100 people are missing and feared drowned off the shores of Yemen after their smugglers forced them overboard in the treacherous Gulf of Aden waters, Yemeni officials and the UN refugee agency said on Friday.
In Geneva, the U.N. refugee agency spokesman Ron Redmond told reporters that the smugglers' boat had left Somalia on Monday with 150 people on board.
Later, as the vessel neared the coast of Yemen, the smugglers forced the migrants overboard, Redmond said. Only 47 survivors managed to swim 3 miles to the shore and alert authorities.
A local security official said the boat was bound for Yemen's Shabwa province, some 300 miles south of San'a on the Gulf of Aden coast. He believed that between 100 and 118 migrants could have drowned. The official spoke on condition of anonymity because he was not authorized to talk to media.
Pirates seize Somalia-bound ship
Pirates have seized a cargo ship sailing from Oman to Somalia, Somali officials have said.
One official said the ship had been seized on Thursday between the Yemeni island of Socotra and Bosasso, Somalia.
Pressure to deal with piracy has grown since pirates seized a Ukrainian ship holding 33 tanks last month.
Somali Pirates Threaten to Blow Up Hijacked Ship if No Ransom Is Paid
NAIROBI, Kenya — The pirates who hijacked an arms-laden Ukrainian tanker off the coast of Somalia threatened Friday to destroy the ship if no ransom is paid, a spokesman for the bandits said.
The MV Faina is surrounded by U.S. warships, and a Russian frigate is heading toward the scene, raising the stakes for a possible commando-style raid on the ship.
"We held a consultative meeting for more than three hours today and decided to blow up the ship and its cargo — us included — if the ship owners did not meet our ransom demand," Sugule Ali told The Associated Press when a reporter called the ship via satellite telephone.
"After three days, starting from tomorrow, the news of the ship will be closed. We know what to do next," he said.
Syria Reaches Out to Greek-Italian Consortium to Build 700-Megawatt Combined-Cycle Power Plant
MILAN, ITALY -- (Marketwire) -- 10/10/08 -- Researched by Industrial Info Resources (SugarLand, Texas)--Syria's Ministry of Electricity's Public Establishment ofElectricity for Generation and Transmission awarded a contract in Septemberto a consortium of Metka SA (ATHEX:METTK) (Metallikes Kataskeves Ellados orGreek Metal Constructions) (Athens, Greece) and Ansaldo Energia SpA(BIT:STS) (Genoa, Italy) for the design, supply, construction andcommissioning of a 700-megawatt natural-gas-fired power plant in Deir Ali, Syria.
World Bank to fund Haryana power plan
To strengthen the power distribution system in Faridabad, the Dakshin Haryana Bijli Vitran Nigam (DHBVN) has prepared a plan of Rs 165 crore to be funded by the World Bank.
A spokesman of the Nigam said on Thursday that under this ambitious plan, the DHBVN had identified 33 feeders of 11 KV level, for High Voltage Distribution System (HVDS), where the system is over-stretched, particularly in areas having unplanned growth of residential & commercial establishments.
Global Stocks Tumble, Driving S&P 500 to Worst Week on Record
Oct. 10 (Bloomberg) -- Stocks tumbled around the world, driving the Standard & Poor's 500 Index to its worst week on record, and commodities slumped amid growing concern international attempts to prop up financial markets will fail to avert a recession.
The S&P 500 fell 7 percent to the lowest level since the start of the Iraq War in 2003 while stocks in Europe and Japan staged the steepest weekly tumble in at least 21 years. Drops in Brazil and India pushed the MSCI emerging markets index to its worst week ever. Oil fell as much as 9.2 percent to $78.61, copper was poised for its largest weekly decrease in two decades.
"We have reached the panic stage,'' said Espen Furnes, an Oslo-based fund manager at Storebrand Asset Management, which has the equivalent of $48 billion. "Fundamentals don't count anymore.''
Nikkei tumbles 9.6% on crisis fears
TOKYO — Japan’s key stock index plunged a stunning 9.6% Friday to close out its worst week in history as frantic investors worried about a global recession dumped stocks after huge losses on Wall Street.
The benchmark Nikkei 225 index tumbled 881.06 points to 8,276.43, its lowest since May 2003. It was its biggest one-day percentage loss since the stock market crash of October 1987.
“Selling is unstoppable in New York and Tokyo,” said Yutaka Miura, senior strategist at Shinko Securities Co Ltd. “Investors were gripped by fear.”
The index dropped by more than 11% at one point but recovered modestly in the afternoon.
London suffers third biggest fall in 'great crash of 2008'
The London stock market suffered its third largest fall ever today in what analysts dubbed "the great crash of 2008", as a wave of panic selling swept the globe.
The FTSE 100, which plunged by more than 10% in early trading, closed 8.85% lower at 3932.1 – a 381.7 point fall, wiping about £89.5bn off the value of Britain's biggest companies.
This is the worst daily fall since the crash of 1987, beating Monday's 7.85% decline.
...
Investment guru Jim Rogers today criticised the political response to the crisis, warning that attempts to rescue "incompetent" banks would simply drive up debt and inflation.
"Markets are collapsing because they have no confidence in the various government plans," said Rogers, who said the markets were "very clearly experiencing a crash".
Martin Slaney, the head of derivatives at financial spread betting company GFT, said markets were suffering "vicious sell-offs".
"What we are witnessing is mass selling on a global scale due to a combination of sheer panic and fear, combined with complete uncertainty over the future of the world's major economies," Slaney said. "Investors are effectively pricing in the possibility of a global depression."
World panic on Freefall Friday ends worst week ever
On Monday the FTSE opened at 4980 points. Last night it closed at 3932, a fall of 1048.
The panic has been mirrored around the world. In Wall Street, the Dow Jones Index has crashed by nearly a fifth since Monday and yesterday President Bush was forced into making his 19th emergency statement since September.
There was another blow for British investors last night when Iceland's Prime Minister said point-blank that his country could not afford to repay overseas investors in its collapsed banks.
The markets meltdown made the desperate rescue efforts by politicians in both Britain and U.S. look futile.
Worst Week on Wall Street Ends Down
Stocks Just Kept Plunging in Another Wild Day for Investors
The misery on Wall Street continued today, with stocks falling again as investors put a close on one of the worst weeks in the financial world's history.
Financial leaders from the United States, Japan, Britain, Germany, France, Italy and Canada met for an emergency meeting this afternoon in an effort to halt spiraling anxiety about the world's financial markets.
Following the meeting in Washington, D.C., U.S. Treasury Secretary Henry Paulson said the group "finalized an aggressive action plan" to quell the stress on markets worldwide and strengthen institutions.
"Never has it been more essential to find collective solutions to ensure stable and efficient financial markets and restore the health of the world economy," he said.
World Bank Under Cyber Siege in 'Unprecedented Crisis'
The World Bank Group's computer network — one of the largest repositories of sensitive data about the economies of every nation — has been raided repeatedly by outsiders for more than a year, FOX News has learned.
It is still not known how much information was stolen. But sources inside the bank confirm that servers in the institution's highly-restricted treasury unit were deeply penetrated with spy software last April. Invaders also had full access to the rest of the bank's network for nearly a month in June and July.
In total, at least six major intrusions — two of them using the same group of IP addresses originating from China — have been detected at the World Bank since the summer of 2007, with the most recent breach occurring just last month.
In a frantic midnight e-mail to colleagues, the bank's senior technology manager referred to the situation as an "unprecedented crisis." In fact, it may be the worst security breach ever at a global financial institution. And it has left bank officials scrambling to try to understand the nature of the year-long cyber-assault, while also trying to keep the news from leaking to the public.
World Bank Besieged By Hackers, Or Not
The World Bank's computer network has been repeatedly raided by hackers for over a year, according to a Fox News report.
But a World Bank spokesperson insists the Fox report is inaccurate. "The story is fundamentally wrong," the spokesperson said in an e-mail. "It is riddled with falsehoods and errors and cites misinformation from unattributed sources and e-mails that are taken out of context."
[methinks the world bank is covering it's arse.]
Cold War With Iceland Sinks British Pound
LONDON - The mudslinging between Britain and Iceland over the stranded clients of Icesave--the British subsidiary of failed bank Landsbanki--left the British currency crippled Friday afternoon, as worries persisted over Britain's exposure to Iceland's economic turmoil.
The pound sterling slid to $1.701 against the dollar, down from $1.710, and also tumbled to 168.435 yen, from 170.335, during afternoon trading on Friday. Although the euro also suffered a sell-off against the dollar and the yen, it did not fall as far
Mid-sized insurer Yamato Life goes bust, affecting 1,000 employees
TOKYO — A medium-sized Japanese insurance company went bankrupt Friday, becoming the first Japanese financial company to collapse on the fallout from the global credit crisis.
Yamato, which went belly-up with debts of 269.5 billion yen, asked the Tokyo District Court to invoke the 2000 fast-track law for the rehabilitation of troubled financial institutions, company officials said.
The law empowers a court to order assets at troubled financial institutions such as banks and insurers to be preserved.
“We are deeply sorry and offer apologies from the bottom of our hearts,” Yamato Life Insurance Co President Takeo Nakazono said, bowing deeply on nationally televised news.
Will Morgan Stanley Survive the Weekend?
Shares for Morgan Stanley, a storied investment bank which recently converted itself into a commercial bank, dropped into the single digits in trading today as investors speculated on its future.
"Morgan Stanley is getting thrown out with the bathwater," said Ada Lee, an analyst with Sterne Agee brokerage. Investors refused to be reassured despite a statement from Japanese bank Mitsubishi UFJ today that it will not renege on a promised $9 billion investment.
Monday is a bank holiday in both the United States and Japan, delaying a completion of the transaction between Morgan and Mitsubishi, further exacerbating the uncertainty surrounding Morgan stock.
Citi drops out; Wells wins battle for Wachovia
Wells Fargo & Co. has won the battle for Wachovia Corp.
Citigroup Inc. has withdrawn from negotiations brokered by federal regulators that sought a compromise to the competing bids from Wells and Citigroup.
The issue is still likely to go to court. But New York-based Citigroup (NYSE:C) says it will no longer seek to block Wells Fargo’s proposed $15.1 billion purchase of Wachovia.
GM, Ford, Chrysler Face Bankruptcy Risk on Crisis, S&P Says
Oct. 10 (Bloomberg) -- General Motors Corp., Ford Motor Co. and Chrysler LLC, the three biggest U.S. automakers, may be forced into bankruptcy as the global credit freeze damps U.S. sales, Standard & Poor's analyst Robert Schulz said.
"Macro factors could overwhelm them at some point'' even as GM, Ford and Chrysler vow to stick with their turnaround plans, Schulz, S&P's lead automotive credit analyst, said today in a Bloomberg Television interview in New York. The companies said they have no plans to seek bankruptcy protection.
Analysis: Who in the Arab world benefits from crisis?
Stock markets across the Arab world experienced unprecedently sharp losses when trading began following the Id al-Fitr holiday earlier this week. The seven stock markets in the oil rich Gulf states shed around $150 billion of their capitalization in the course of the week.
The market in Saudi Arabia sank by 7 percent. In Egypt, the key index fell by around 16%. One Saudi economist quoted by Agence France Presse described the latest developments as a "catastrophe." For a number of reasons, the Arab world may well prove particularly vulnerable to the world economic downturn. This fact has political implications for the region, which are already being glimpsed and acted upon by various regional forces.
G7 urged to take joint action to avoid collapse of financial system
Darling calls for united action to achieve stability after failure of country-by-country rescue plans
A crisis meeting of finance ministers and central bank governors from the west's seven leading economies is considering joint action to bail out banks amid fears that a fresh wave of panic had pushed the global financial system to the brink of collapse.
Chancellor Alistair Darling was urging his G7 colleagues to adopt Britain's blueprint of using taxpayers' money to buy stakes in tottering banks and warned the time for talking was over.
With shares, oil and sterling all plunging at the end of a dramatic week, Darling said: "Governments must act. They must demonstrate to the world that they are prepared to act together to do whatever it takes to stabilise the situation."
...
Also in Washington, the Bank of England governor, Mervyn King, said: "Central banks will work together as we demonstrated this week to ensure sufficient short-term liquidity is provided to stabilise banking systems. But it is also vital that governments work together to ensure their banking systems are recapitalised to enable them to lend to finance spending in the real economy."
G-7: We're Working On It
Finance officials and central bankers from the world's most industrialized countries unveiled a five-point plan to address an economic crisis they say calls for "urgent and exceptional action."
"We commit to continue working together to stabilize financial markets and restore the flow of credit, to support economic growth," G-7 finance ministers and central bankers said in a joint statement Friday evening.
That's the pledge of confidence the world was expecting from the officials--heavy on pledge, light on the detail.
...
Coincidentally, the IMF and the World Bank are holding their annual meetings in Washington this weekend. Although there are many pre-scheduled events on the agenda, rescuing the global economy will be the primary topic of discussion.
[personally, I don't believe in coincidences.]
Crisis needs a global solution
KEVIN Rudd keeps saying that Australian banks are strong, well capitalised and well regulated. And he's absolutely right. They are. It's just that even impeccable logic isn't quite so reassuring when the rest of the world's banks are hostage to rapidly rising panic.
...
That means this weekend will represent a critical new attempt for governments to achieve agreement on a co-ordinated plan that is dramatic enough to impress the global market. And just what would that be? For all Rudd's commendable emphasis on developing measures to improve international financial regulations and transparency, the focus is far more immediate. Help needed - yesterday. One possibility may be a global government guarantee of bank deposits, at least temporarily, to replace the mish-mash of individual guarantees in place at present. But incredible as that seems, it is still likely to be inadequate to break the cycle of panic.
...
British Prime Minister Gordon Brown, for example, is calling for other governments to follow Britain's example of a much more co-ordinated approach.
...
Brown said it was the first program to simultaneously address "the three essential components of a modern banking system - sufficient liquidity, funding and capital".
"But because this is a global problem, it requires a global solution," he said.
Multilateral system need fundamental overhaul - Zoellick
The way the world tries to solve its economic problems needs to be rethought amid today's global crisis, including turning the Group of Seven into a Steering Group that empowers rising economic states, World Bank Group President Robert B. Zoellick has said.
Referring to the upcoming U.S. election, Mr Zoellick said the new president would have to move beyond "the firefight of financial stabilization" to address the "economic aftermath"; saying that whoever won the White House should work with others in modernizing the multilateral system as there needed to be a greater shared responsibility for the health and effective functioning of today's global economy.
" The G-7 is not working. We need a better group for a different time. For financial and economic cooperation, we should consider a new Steering Group including Brazil, China, India, Mexico, Russia, Saudi Arabia, South Africa, and the current G-7," Mr Zoellick said in a speech to the Peterson Institute for International Economics in Washington D.C
The threat lying offshore
Tax havens will sabotage attempts to re-regulate global finance. Democracy demands we tackle them
The global economic crisis means financial re-regulation is, finally, on the agenda. Most agree it is needed on a global level. Some say this is impossible in a world of self-interested sovereign states, but we disagree: it is possible if we look at the context in which regulation is embedded. There we find the essence of the problem: tax havens. The offshore world created the conditions that led to this crisis, and unless the offshore world is tackled, it will undermine all efforts to deal with it.
Nationalised Banking System Will Come from Global Market Rout
The situation in the financial markets has not improved over night. In fact, the crisis seems to be accelerating. But toward what?
In the share market, we had a look back on the 2003 low on the ASX. On March 12, 2003 the index closed at 2,673. If the rally that began the next day and ended in October of last year was really just a multi-year rally in the midst of a secular bear market, you have to ask whether the 2003 low will be tested and/or taken out.
...
Every piece meal 'solution' designed to get credit flowing again has failed. Every attempt to recapitalise failing banks with slim capital bases supporting a tower of tottering assets has failed too. So now, governments are taking the next logical step in the progression of events. And what's that?
The global banking system is quickly become another government agency. Governments in Europe have already bought equity in the banks. Now the Treasury Department in the States will do the same. For now the fiction exists that the banks can survive as private enterprises. But surely it is just a matter of time before that fiction gives way to a nationalised banking system.
This weekend's G7 summit is the next best chance for global regulators and politicians to try and "save" the banking system. But what will they announce? We don't know. It's hard enough to get Europeans to agree on anything. Now you're talking about coordinated global financial policy. Perhaps a new global currency will be one result of this crisis. As we've said before, a stock market holiday and a bank holiday, and/or a cap on withdrawals by mutual fund share holders and bank depositors in the logical end-game of the crisis.
New International Financial System in the Offing?
In response to the ongoing financial crisis, world leaders are planning "a new Bretton Woods," according to Italian Prime Minister Silvio Berlusconi. According to an October 10th article by Steve Schere on the business and financial news website Bloomberg.com:
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance.''
'The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis 'can't just be for one country, or even just for Europe, but global.''
In other words, the powers that be are contemplating nothing less than imposing a true global financial regime along the lines hoped for but not fully attained by the first Bretton Woods conference which took place shortly before the end of the Second World War. From that conference, guided by left-wing economists and radicals like Harry Dexter White and John Maynard Keynes, emerged the postwar global financial order that featured the International Monetary Fund and the United States dollar as the world's fallback currency.
No comments:
Post a Comment