Humor: Sr. Intern Coordinator


US Implosion By Summer 2009?

(from the Global Europe Anticipation Bulliten #29 [link])

leap2020The Western monopoly on global economic and financial governance is coming to an end.

The [G-20] meeting demonstrated this kind of summit is doomed to inefficiency because they concentrate on curing the symptoms rather than the fundamental root of the current crisis, i.e. the collapse of the Bretton Woods system based on the US Dollar as sole pillar of the global monetary system. Without a complete overhaul, by summer 2009 the failing of the current system and that of the United States at the center, will lead the whole planet to an unprecedented economic, social, political and strategic instability, and more specifically to a breakdown of the global monetary system by summer 2009.

Panic At the Highest Levels
The agitation that has seized global leaders since the end of September 2008 indicates that panic has struck at the highest level.

Worldwide political leaders have now understood that the house is on fire. But they have not yet perceived something obvious: that the very structure of the building is involved. Improving fire-regulations or reorganizing emergency services will not be sufficient.

Financial 9/11
To use a strong symbolic image, the World Trade Center’s twin towers did not collapse because firemen were late or because water was missing in the automatic fire-system, they collapsed because their structure was not meant to support the shock of two airliners hitting them in just a few minutes.

Today’s global monetary system is in a similar situation: the twin-towers are the Bretton Woods system, and the airliners are called « subprime crisis », « banking failures », « economic recession », « Very Great US Depression », « US deficits », … a whole squadron.

Today’s leaders, who all belong to the collapsing world, cannot possibly imagine how to solve the problem–just like central bankers in 2006/2007 could not possibly imagine the scope the unfolding crisis could reach.

US Implosion By Summer 2009
According to LEAP/E2020, if global leaders fail to take actions in the next six months, the US debt will « implode » by summer 2009 under the shape of the country’s defaulting or the Dollar’s dramatic devaluation. This implosion will [cause] a number of similar episodes affecting less central countries, including the United Kingdom whose already huge debt is ballooning at the same pace as Washington’s.

The role the Europeans can play in the matter is essential.
The Eurozone in particular must send out a strong message towards Washington: « The United States will fall into an economic and financial pitfall in 2009 if they cling to their past « privileges ». Once the world has given up on the Dollar, it will be too late to negotiate ».  [more]

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