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Wednesday, January 21, 2009

THE GLOBAL SYSTEM HAS BEEN COLLAPSED

THE GLOBAL ECONOMICAL SYSTEM HAS ALREADY BEEN COLLAPSED SINCE A LONG TIME AGO BEFORE NOW DAY'S BANKRUPTCY.THE IDEOLOGICAL SCHEMES OF THAT SYSTEM WHICH IS BASED IN COMMUNISTIC AND CAPITALISTIC IDEAS HAVE BEEN CORRUPTED AFTER THEY SERVED HUMANITY AND HELPED ITS DEVELOPMENT UP TO A SPECIFIC STAGE AND LEVEL.
WE MUST TAKE INTO CONSIDERATION THAT IT IS THE FIRST TIME AFTER THOUSANDS OF YEARS WHERE GOLD AND SILVER AREN'T THE BASIS OF THE INTERNATIONAL EXCHANGES AND INTERNAL ECONOMIES OF THE STATES.MAYBE THAT IS RIGHT ,MAYBE NOT,WE SHALL SEE,BUT WHAT IT IS FOR SURE,IS THAT A NEW MODEL (WHICH IS ALREADY PRESENTED TO THE PUBLIC BY PROGRESSIVE TEAMS) MUST BE IMPLEMENTED THE SOONEST POSSIBLE IN ORDER DISSOLUTION PHENOMENA TO BE AVOIDED IN OUR GLOBAL SOCIETY...
BUT THE MAIN QUESTION STILL REMAINS "ON WHAT BASIC VALUES ARE THE GOVERNMENTS OF THE WORLD GOING TO CUT PAPER MONEY,APART FROM THE INDEXES,PARAMETERS,ELECTRONIC VALUES ETC ? WHERE ARE THEY GOING TO BE BASED ON ? "

ANGELOS CHARLAFTIS



Roubini Predicts U.S. Losses May Reach $3.6 Trillion

Jan. 20 (Bloomberg) -- U.S. financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is “effectively insolvent,” said New York University Professor Nouriel Roubini, who predicted last year’s economic crisis.

“I’ve found that credit losses could peak at a level of $3.6 trillion for U.S. institutions, half of them by banks and broker dealers,” Roubini said at a conference in Dubai today. “If that’s true, it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis.”

Losses and writedowns at financial companies worldwide have risen to more than $1 trillion since the U.S. subprime mortgage market collapsed in 2007, according to data compiled by Bloomberg.

President Barack Obama will have to use as much as $1 trillion of public funds ...

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