Nicholas Sarkozy could be the end of Forex | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Could This Be The End For FXCM 11 replies

End of Forex Day - Start of Forex Day 13 replies

Offical Forex End of Day 3 replies

Sarkozy WINS!!!!!! 14 replies

Attachments: Nicholas Sarkozy could be the end of Forex
Exit Attachments

Nicholas Sarkozy could be the end of Forex

  • #101
  • Nov 5, 2008 4:07pm Nov 5, 2008 4:07pm
http://www.telegraph.co.uk/finance/c...ic-policy.html

As soon as next week the leaders of the G20 bloc gather in Washington to construct the new financial order, a revived Bretton Woods. The summit is a minefield, camouflaged with interegnum pieties. Bretton Woods means a fixed exchange-rate system, that is to say the antithesis of the floating currency regime that is so deeply linked, in so many subtle ways, to flourishing free markets.
Thankfully, Mr Obama is well advised – by Paul Volcker, Warren Buffett and George Soros – notwithstanding Rupert Murdoch's jibe that his economic plans are "rubbish".
His likely pick to replace Hank Paulson at the Treasury is Tim Geithner, the head of the New York Fed, the crisis fireman of the last year and perhaps America's safest pair of hand.........
  • #102
  • Nov 5, 2008 4:23pm Nov 5, 2008 4:23pm
http://ftalphaville.ft.com/blog/2008...eserve-system/
  • #103
  • Nov 6, 2008 12:20pm Nov 6, 2008 12:20pm
http://www.reuters.com/article/marke...30935420081106
  • #104
  • Nov 6, 2008 1:27pm Nov 6, 2008 1:27pm
Quoting Kiado
Keep in mind that Traders and risk takers are the elite of the world without us their wouldn't be a market and the only other option would be communism
Two options..... ?

that is a ridiculous statement.

The cold war is over, by the way.

(no offence intended)
  • #105
  • Edited 2:33pm Nov 6, 2008 1:51pm | Edited 2:33pm
Quoting static
The cold war is over, by the way.
You sure about that?
  • #106
  • Nov 6, 2008 6:05pm Nov 6, 2008 6:05pm
Quoting static
Two options..... ?

that is a ridiculous statement.

The cold war is over, by the way.

(no offence intended)

pls explain me how a democratic free world can excist without a market ?
and a how can a market exist without risk takers?
so therefore risk takers form the market and the market gives every individual in the world the chance to perform and receive ergo i as a risk taker provide the very fundamental needs for the society to function and therefore i am proud to call myself a part of the market and the elite of the world
  • #107
  • Nov 7, 2008 10:33am Nov 7, 2008 10:33am
Quoting fxterrapin
You sure about that?
Let me rephrase.

The ideological practice of considering only two possible (and completely opposite) ways of organizing a society has fallen out of fashion. I don't mean the events of the cold war... sure Russia and the US (read:capitalism and communism if you like) can be seen to be in competition even now.

But this type of analysis is so oversimplified that to argue within it's framework only serves to tie the participants hands... if there are only two sides, and two ways.... then "you're either with us or against us"

..... and what sort of meaningful dialogue about how a society should be organized can come of that?? It just turns into a right or left argument... not a practical one.
  • #108
  • Nov 7, 2008 11:05am Nov 7, 2008 11:05am
Quoting Kiado
pls explain me how a democratic free world can excist without a market ? Are you suggesting that the current financial system (ie. Federal reserve type of system as well as other prominent institutions) promotes a "free" and democratic WORLD? If your answer is yes, then we could never agree on much after that. Instead maybe you should be asking.... does a world based on a totally unrestricted free market (which would need to include the free movement of labour) create what you call a "free" world?? And is this the type of "market" we have put into practice?
and a how can a market exist without risk takers?
Liquidity does drive a market
so therefore risk takers form the market and the market gives every individual in the world what about a labour market? there are many barriers for most of the world's population in participating in the market the chance to perform and receive ergo i as a risk taker provide the very fundamental needs for the society to function and therefore i am proud to call myself a part of the market and the elite of the world
Markets can exist in many forms and having a system where speculators can highly leverage absolutely fictious assets is not the only way. The "free" market doesn't really exist in the way we're talking about it anyways (just look at agricultural subsidies in most developed countries).

In the end the market is one way to allocate resources, and it is clear from the constant need for the market to crash that the resources are not allocated in an effective way. Before the latest cultural experiment ( approx. 10,000 years ago) the human animal did quite fine for hundreds of thousands of years without a market. (unless you think we've only been here for 6000... in which case we will never agree either)

My main point is that there are certainly not two ways to organize the allocation of resources in a society. Nor is a capital "F" free market the answer to everyone's problems.

I really do like dicussing things like this and this is not meant as an attack. I realise I was a bit curt in my last post, and I apologise.
.
  • #109
  • Nov 7, 2008 11:09am Nov 7, 2008 11:09am
Guys please tell me what is the chance that trading will be prohibited?

expressed in any kind of form percentage, plain opinion. I can accept anything. I am a bit nervous about Sarkozy intentions.
  • #110
  • Nov 7, 2008 11:28am Nov 7, 2008 11:28am
http://www.opednews.com/articles/Pre...81107-337.html

Other appointments aren’t likely to be much better. Obama’s advisers during the campaign, especially on economics and foreign policy, have been not forward-thinking “change”-oriented outsiders, but rather hoary old-timers like Paul Adolph Volcker and Zbigniew Brezinsky (both veterans of the Carter presidency!). Why would we expect his cabinet appointments to be any different? (I recently attended a talk that featured Volcker, who was Federal Reserve Chairman under Carter and Reagan, along with Nobel economists Robert Mundell and Joseph Stiglitz. Volcker sounded almost senile as he rambled on and on in a barely comprehensible mumble about the need for a “global” currency.)
  • #111
  • Nov 7, 2008 3:28pm Nov 7, 2008 3:28pm
capitalism can be classify as a "free market" system but that does not mean it should not reward labor. Instead , critics ought to decry and condemn governments as they often misregulate capitalism.

**Let us remenber that Sarkozy defeated socialsts to become president
  • #112
  • Nov 7, 2008 3:45pm Nov 7, 2008 3:45pm
Quoting maxflii
http://www.opednews.com/articles/Pre...81107-337.html

Other appointments aren’t likely to be much better. Obama’s advisers , have been not forward-thinking “change”-oriented outsiders, but rather hoary old-timers like Paul Adolph Volcker and Zbigniew Brezinsky (both veterans of the Carter presidency!).
Very interesting ,Mafili. I've always been suspicious of Obama massive spending agenda. Plus, i sense a tax hike coming as soon as fragile signs of stability appear. Currently, I agree with Obama on an immediate need of second stimulus package. Yes it is more spending but the economy is very stupid these days.
  • #113
  • Nov 7, 2008 6:52pm Nov 7, 2008 6:52pm
hahaha! people...no way at all to acomplish Sarkozy's desires. That just makes him more popular...that's his style. Do you really think the market will fail? Impossible. Just think about how many world leaders should be calling their brokers right now heheh! ohhh!! sorry...gotta go...Sarkozy is on the phone...he wants to buy Euro!!!
  • #114
  • Nov 7, 2008 11:16pm Nov 7, 2008 11:16pm
Quoting Maxsmart
I usually don't put much stock in things of such a radical nature. But the French president is quite alot of support including the full support of his EU colleagues, the canadian prime minister, and he is meeting with the President of the United States of America today. In short, he wants to put an end to capitalism, the speculator (us forex traders), or those that profit in the short term and do not just buy a stock and hold it for 20 years, and currency disorder. Here is a link to an article written my Mr. Sarkozy and his vision for the change that he wants to bring about, his "Bretton Woods."

http://www.abs-cbnnews.com/views-and...icolas-sarkozy...


I really do not think they teach history anymore! The world has been down this road before. Flashback to the 70's , price controls, high inflation, high unemployment. But then the French do get scared easy, they are a dying country and want to take the rest of us with them.
  • #115
  • Nov 9, 2008 5:52am Nov 9, 2008 5:52am
http://www.pittsburghlive.com/x/pitt.../s_597427.html

"The G-20 should be urged to initiate the establishment of a new, international, paper anchor currency, under the auspices of the IMF.
To restore confidence, the currency should be convertible into gold -- but only at a premium. In other words, it should discourage conversion and "undervalue" the new currency and the world's GDP against the world's total gold holdings, creating the wriggle room necessary to avoid a depression.

This would help restore the credibility of paper money but would not act as such a recessive discipline that it risked forcing the current recession into a depression.
Choosing a name can be important. A possible choice would be the "Karl," after Karl der Grosse, or Charlemagne, one of the world's great unifiers. Furthermore, "K" (with a horizontal line through it) would be a new, distinctive monetary sign. *"
  • #116
  • Nov 10, 2008 6:18pm Nov 10, 2008 6:18pm
i do not want to sound too ignorant, but, in terms of trading, wich would be the side effect for FX if G-20's ideas turn into a reality? As far as my knowledge allows me, it would get the pairs less volatile, but anyways, i'm not quite sure. I would need a little explanation about this topic. Thank you!
  • #117
  • Nov 10, 2008 8:43pm Nov 10, 2008 8:43pm
It is going to be a while before we get to see results out of this G-20 summit, but what’s happening Saturday is going to be really important since it might set the roots to what the new economic order shall be. We might expect to see some results within at least two years I dare to say.
  • #118
  • Nov 11, 2008 12:41pm Nov 11, 2008 12:41pm
Gread thread and interesting posts. Here's my two cents:

The world will not move back to the gold standard as long as Big Ben is Fed chief. He knows this is a very significant step backwards for the world financial system and, especially under the current situation, very inflationary. Besides, why gold? Why not silver, or oil, or fresh water?

There will never be a world currency that the US participates in, and therefore Europe, etc will not participate. There would be an armed rebellion in the US to remove a government that particpated in such an action.

The IMF will NEVER be given authority or power over existing US authorities. Again, if Americans believed their government was going to abdicate its authority to an international organization, we are talking armed revolution.

The issues that need to be resolved are: never allow a large financial organization (ie, one too large to fail) to leverage up 40:1; and establish international standards covering securities that are traded internationally (e.g., mortgage backed securities must meet strict underwriting standards).
  • #119
  • Nov 11, 2008 3:44pm Nov 11, 2008 3:44pm
Quoting rapaduski1
The IMF will NEVER be given authority or power over existing US authorities. Again, if Americans believed their government was going to abdicate its authority to an international organization, we are talking armed revolution.
Since when is the IMF an "international organization"?
It is just another weapon in the hands of the US to control and subdue 3rd world countries.
Therefore the IMF controlling American authorities makes no sense at all.
But there are other "private" multinational corporations that control politicians and governments both in the US and all over the world. Governments have lost control a long time already.
  • #120
  • Nov 11, 2008 4:03pm Nov 11, 2008 4:03pm
Quoting Maxsmart
I usually don't put much stock in things of such a radical nature. But the French president is quite alot of support including the full support of his EU colleagues, the canadian prime minister, and he is meeting with the President of the United States of America today. In short, he wants to put an end to capitalism, the speculator (us forex traders), or those that profit in the short term and do not just buy a stock and hold it for 20 years, and currency disorder. Here is a link to an article written my Mr. Sarkozy and his vision for the change that he wants to bring about, his "Bretton Woods."

http://www.abs-cbnnews.com/views-and...icolas-sarkozy...
French bit$&! he should think about carla bruni and stop bothering us!
Fuck Forex Factory
0 traders viewing now