Posts Tagged ‘recession’

Call for record Opec output cut

December 17, 2008

Call for record Opec output cut

Saudi oil minister Ali al-Nuaimi

The Saudi oil minister wants non-members of Opec to cut output as well

Opec leaders are gathering in Algeria under pressure from Saudi Arabia to make their biggest ever single cut in output as prices plunge.

Saudi Arabia, the world’s largest oil producer, predicts the cartel will reduce production by a 2m barrels a day at its meeting.

Saudi oil minister Ali al-Nuaimi said he expected Opec non-members to cut output by 600,000 barrels per day.

Oil giant Russia, a non-member, will be represented at the meeting.

A combined cut of 2.6m barrels per day represents 3% of the global output.

Oil prices have slumped $100 from a peak of $147 a barrel in July, as demand weakened amid the downturn.

Expectation is high that oil producers are ready for co-ordinated actions to boost crude prices.

Source BBC

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IMF head calls for extra funding – We've Been Robbed!

November 17, 2008

Editor: My opinion on the bailouts.

We’ve been robbed!

700 billion – where did it come from? It doesn’t exist’
Who’s on the hook for it? You and all the other taxpayers.
Where’s the money going?
I’ve got a theory on that – The IMF and possibly the World Bank.

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IMF head calls for extra funding

Dominique Strauss-Kahn told the BBC that the IMF was likely to need at least $100bn (£68bn) of extra funding over the course of the next six months.

Dominique Strauss-Kahn speaks at the IMF in Washington (15 November 2008)

Mr Strauss-Kahn said the G20 was aware of the need for a strong IMF

The head of the International Monetary Fund says it will need more funding if it is to play a bigger role in aiding a global economic recovery.

BBC

The money was supposed to go to buy out bad mortgages, but it’s not.

In Canada our govt. is coughing up 75 billion for the same, supposed purpose. Last year the banks here made a profit of just under 20 billion.

Canada is one tenth the size of the US – so our 75 billion bail out is about the same as your 700 billion and our banks profits would be equal to 200 billion.

Bold faced robbery!

How is it that there never seems to be money for health and education or anything else that our tax dollars were supposed to pay for?

Please take some time to read the Green Agenda

The players and the plan is all there.

Hang on to your hat – you haven’t seen anything yet.
They’re just getting started.

Your tax dollars are financing the New World Order

Very interesting times ahead – in my humble opinion.

New World Order

November 13, 2008

Editor: The heading on the drop down list for the BBC news feed is New World Order. The story does not mention the NWO directly, but it does confirm that the west is screwed. Please take the time to read the Green Agenda

Insight: ‘Bretton Woods Two’?

By Bridget Kendall
BBC diplomatic correspondent

A deep-seated global crisis is often a chance to redraw the map, reflecting shifts in the balance of power in different ways.

First, the crisis can confirm or nudge ahead trends which seem to be happening anyway – like the shift of power from Western to emerging Eastern players.

Second, it can put flesh on reforms already in the air – like plans to overhaul the international financial architecture to be discussed at this weekend’s summit being hosted by President Bush in Washington.

source BBC