"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."
- Ludwig von Mises

Wednesday, November 10, 2010

Brazil's Mantega Proposes Reducing Global Role of Dollar

In just now from Bloomberg - and a day before the G20 meets in South Korea.  China with capital controls in response to Ben's printing press, Germany complaining about the US' debt addiction, an errant missile launch (still no solid explanation by the US on that one) and now Brazil. 

Looks like everyone wants to make sure the G20 Meeting is anything but a lovefest.

I will be covering the G20 Meeting extensively tomorrow.  Look for periodic updates.

It also looks like Ireland is cracking at the seams again: Ireland's crisis flares as investors dump bonds. I guess the EU has found a way to devalue the Euro once again - by unexpected crisis.  The G20 plate is now full.

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