Saturday, Feb 06, 2010
Why the secrecy?
Herald Sun: World bankers meet in Sydney as recovery fears intensify
The world's top central bankers began arriving in Australia for high-level talks as renewed fears about the strength of the global economic recovery gripped world share markets.
Representatives from 24 central banks and monetary authorities, including the US Federal Reserve and European Central Bank, landed in Sydney to meet tomorrow at an undisclosed location.
Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with extensive security believed to have been invoked by law enforcement agencies.
Posted by devo @ 09:46 PM (1272 views) Add Comment
12 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Tpbeta said...
V interesting, this and the simultaneous G7 finance ministers meeting in Canada is why the markets rallied on Friday afternoon - traders covering short positions in the event of a big announcement on Sunday. If they don't say anything, Monday could be carnage.
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. devo said...
1. tpbeta said... a big announcement on Sunday. If they don't say anything, Monday could be carnage
What can they say that would inject confidence?
4. tpbeta said...
They could reinstitute the fed's credit lines, resume money printing and generally sell the greenback. The dollar rise is in danger of becoming a feedback loop if they don't do something about it sharpish. Commodities, the Euro and Sterling would all in the firing line Monday morning if Friday replays.
btw Mervyn is in Canada, not Australia. Guess he's not a top central banker.
http://business.timesonline.co.uk/tol/business/economics/article7017820.ece
5. devo said...
3. tpbeta said... they could reinstitute the fed's credit lines, resume money printing and generally sell the greenback.
the phrase that comes to mind is 'short-term expediency'
6. devo said...
btw Mervyn is in Canada
go merv !
7. devo said...
he's still got his suit and tie on under that parka
8. estrader said...
Friday’s movement was very unsurprising...with the benefit of hindsight of course. Take a look where the S&P500 futures closed at on Friday - 1059.50! Do you think that is just a coincidence? Take a look at my twitter observations since early October 2009. Now, I know this is going to send shivers down Flashman’s spine but the market is being manipulated by the STRONG HANDS and anyone who thinks otherwise ought to keep away from them. The STRONG HANDS may have been distributing since October and now there will be further accumulation at around the 1061-1063 level, or perhaps this is the beginning of the mark down. In which case, there will be at least a 300 point move to the downside...and there you have it.
http://twitter.com/escontract
9. ant said...
I think these central bankers would have been better off if they read Pytel's "The largest heist in history" -
http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html
It is all there.
10. stillthinking said...
I find it very suspicious that the central bankers are all meeting up in such a low key meeting. I am sure we don't know the half of how bad things really are. Two years on, no signs of improvement, and many plausible arguments that things will worsen.
11. tpbeta said...
I bet Bernanke is kicking himself for missing Pytel's latest blog. What a schoollboy error
12. chrisa said...
Probably all meeting up to agree to writing off all the debt in the world and starting all over again by scrapping all existing fiat currencies and then issuing a One World Currency, probably electronic. And Bingo we then have a NWO cashless society.