G-20 finance ministers and central bank governors gathered for their annual meeting in Sydney on Feb. 22, 2014
The largest global economies [G20] have pledged to install policies that will add $2 trillion to the world economy over the next five years.
“Precisely how G20 leaders plan to deliver on the Sydney promise to lift global GDP at least 2% by 2018 remains sketchy at best,” said Societe Generale’s Michala Marcussen.
Another topic discussed during the meeting was the necessity to implement stricter rules on cross-border taxation to prevent companies from shifting their income to low-tax countries.
Concerns were expressed about the Federal Reserve’s decision to gradually reduce buying bonds and its impact on their stock markets, which have suffered since the Fed’s decision to begin tapering its asset-purchase program.
Lagarde said the IMF stood ready to provide support to Ukraine following days of political turmoil. She said this could include policy advice and financial assistance, but she pointed to potential negotiating complications as a result of the leadership upheaval.
The UK chancellor, George Osborne, had called on the G20 to send a strong message that financial support would be available to help the people of Ukraine rebuild their country. Before the meeting Osborne also backed Australia’s push for commitments to lift global economic growth.
Apparently all it takes to kick the world out of a secular recession and back into growth mode, is for several dozen finance ministers and central bankers to sit down and sign on the dotted line, agreeing it has to be done. That is the take home message from the just concluded latest G-20 meeting in Syndey, where said leaders agreed that it is time to finally grow the world economy by 2% over the next 5 years. – Zerohedge
Continue to sift through the various prepared public theatrical rhetoric and we can discern much even though most agreements and plans remain hidden behind closed doors. G20 members: South Africa, United States, Canada, Mexico, Brazil, Argentina, China, Japan, South Korea, India, Indonesia, Russia, Turkey, European Union, Germany, France, United Kingdom, Italy, Saudi Arabia, and Australia
- Funding the capture of the Ukraine into the European Union appears to be a key plan…
- Hidden taxation/inflation increases continue to be their agenda…
Their Inflation driving expansion growth model.
- Fears of Deflation appears to be driving them forward regardless of the inflationary harm to working class citizens and small businesses…
- Banking Bail-ins appear to be an agreed upon plan…
- I am puzzled over the true meaning within Chinese Minister of Finance Lou Jiwei’s comments at the G20 Summit, as reported by Reuters:
“Attempts by the Federal Reserve to dial back its super-loose monetary policy are good for China because it shows the world’s largest economy is improving, China’s Finance Minister was quoted as saying on Sunday.” [Is this implying they pressured the federal reserve? Implications that China will manage fine with the reduction of funny moneys in the global Exchange markets, even as some nation’s exchanges will suffer?
There was a admission that China, even as the world’s largest economy, could not maintain the unrealistic growth of the past (not remain the future growth engine of the world economy).]
- The public united front appears to be very important, wonder what would happen if a few members voiced their disagreement in public?
Why haven’t Argentina, Brazil, China, Russia, or Saudi Arabia voiced public G20 dissent?
Interesting how well orchestrated their fake public facade is.
Couldn’t have anything to do with conditional membership, gangster style death threats, could it?
*Oops… Updated to share new finding of a disagreement prior to Summit:
India’s Raghuram Rajan – who has been pleading for far more coordination between central banks in a time of global tightening – high and dry.
- RBI’s RAJAN: POLICY TIGHTENING MUSTN’T UPSET GLOBAL ECONOMY
- RAJAN SAYS INFLATION IS HURTING GROWTH
- INDIA’S RAJAN SAYS BRINGING DOWN INFLATION BIGGEST CHALLENGE
- RAJAN: DEVELOPED, EM NATIONS AGREE ON NEED TO CALIBRATE POLICY
Is, rocking the boat, Raghuram position in jeopardy? Keep a hawk’s eye on his future…
Please continue to monitor and research information from this G20 summit and inform us of what you find. Also prepare for the G20’s managed financial crisis as the currencies become worthless. ~Ron