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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Volcker Calls for New Bretton Woods

    Neno
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    Volcker Calls for New Bretton Woods Empty Volcker Calls for New Bretton Woods

    Post by Neno Wed 04 Jun 2014, 7:43 am

    Volcker Calls for New Bretton Woods
    June 2, 2014


    (Or How  I Learned to Hate the Dollar and Love the SDR)
    On May 21, 2014 at the annual meeting of the Bretton Woods Committee, Paul Volcker made comments supporting the concept of a New Bretton Woods.  Much of what he had to say supports the ongoing thesis here at Philosophyofmetrics. Here are some excerpts.  – JC


    Volcker Calls for New Bretton Woods Volcker

    “Where was an effective adjustment mechanism? Was the “exorbitant privilege” of the dollar as a reserve currency also a “dangerous temptation” to procrastinate – an impediment to timely policy adjustments, risking eventual breakdown?”

     
    “Implicitly, bits and pieces of needed reform are being recognized by strong efforts to standardize commercial bank capital requirements and, for the first time, to introduce liquidity standards. The need for official oversight and surveillance beyond the commercial banking system is well recognized, even if much remains to be done to develop and standardize practices. There is effort underway to achieve a common approach toward the resolution of failing financial institutions of systemic importance; it is hard to perceive of any successful resolution process that proceeds only nationally.”
     
    “The creation of the G-20 at the exalted level of Presidents and Prime Ministers has been a political accomplishment. The agreed changes in IMF governing structure are important in achieving a sense of political legitimacy for its governing structure and decision-making. But that is not enough – it means little without substantive agreement on the need for monetary reform and practical approaches toward that end.”

    Read more in the official transcripts.


    Remarks by Paul A Volcker _21May2014


    See the PoM Series titled SDR’s and the New Bretton Woods.

    http://philosophyofmetrics.com/2014/06/02/volcker-calls-for-new-bretton-woods/
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    Volcker Calls for New Bretton Woods Empty Re: Volcker Calls for New Bretton Woods

    Post by Neno Thu 05 Jun 2014, 10:24 am

    Finally got to really read this after grand daughters birth and find it is so interesting. I recommend all to spend a few minutes reading what this guy that has been around a awhile has to offer by I presume opinion but he has been involved with the Treasury it seems since inception?

    Interesting information.

    Remarks by Paul A Volcker _21May2014
    https://philosophyofmetrics.files.wordpress.com/2014/06/remarks-by-paul-a-volcker-_21may2014.pdf

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