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IPFS News Link • World News

Berlusconi Says Leaders May Close World's Markets

• Bloomberg via Drudge Report
By Steve Scherer - 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.''

3 Comments in Response to

Comment by Ed Vallejo
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White House dismisses idea of market suspension
Fri Oct 10, 2008 2:22pm EDT
WASHINGTON (Reuters) - The White House on Friday dismissed suggestions that U.S. markets would be suspended so international financial rules could be rewritten amid the turmoil that has gripped markets for weeks.

"There are absolutely no plans or discussions to interfere with the functioning of markets in the United States," White House spokesman Tony Fratto said in response to a question about the idea raised by Italian Prime Minister Silvio Berlusconi.

The Italian leader, who is set to meet U.S. President George W. Bush on Monday, later played down the idea.

(Reporting by Jeremy Pelofsky, editing by Leslie Adler)

Comment by Powell Gammill
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Ernie called me this evening to point out what was at the end of this article regarding the return to the gold standard:

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are "talking about a new Bretton Woods.''

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.

Comment by Ernest Hancock
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A World Wide "Bank Holiday" - This is one of the signs that many of us have been dreading. And the 'Bailout Bill' allowed for the USA to be a big part of this (in fact it was required) so that the final Global Plan could be enacted. I'm not sure what it is, but I can guess that in the end we are all slaves to "The Man". Only now, "The Man" is Global and has a gun pointed at _all_ that would resist.

Got a farm to live on yet? If not, then you had better find one or get use to being under the control of 'government'.