America.gov (Washington, DC)
Merle David Kellerhals Jr.
3 September 2009
Washington — U.S. Treasury Secretary Timothy Geithner says a meeting of the Group of 20 finance ministers in London is an opportunity to assess what is working and what is still needed to pull the global economy out of one of the deepest recessions in decades.
"If you look at where we are today versus where we were in March or April, I think it's reasonable to conclude that the force of the policy response that we put in place here and the G20 ... has been very successful," Geithner said at a September 2 press briefing in Washington. "You're seeing now the first signs of growth ... in this country and countries around the world."
The Group of 20 finance ministers and central bank governors are meeting September 4-5 in London in preparation for the G20 Summit in Pittsburgh, September 24-25. The G20, which was formed in 1999, includes 19 of the world's largest national economies and the European Union. The Pittsburgh Summit is a follow-up to a similar meeting held in London last April and an earlier summit held in Washington in November 2008.
Also participating in G20 summits are the managing director of the International Monetary Fund (IMF), the World Bank president, and the chairmen of the IMF's Financial Committee and Development Committee.
The G20 countries represent about 90 percent of the global gross national product and nearly 80 percent of world trade. They also include two-thirds of the world's population.
Geithner said there has been a significant improvement in the basic confidence and stability of the world's financial markets, which is reflected in lower borrowing costs.
"Our emphasis is going to be on trying to make sure that everyone understands that our basic imperative is to make sure we have the foundation in place for a self-sustaining recovery led by private demand, and that's going to require more work," Geithner told journalists.
In April, finance ministers and central bank governors reached a consensus on a framework of international financial reforms, though making those reforms a reality is based on legislating at the national level to make them operational, Geithner said.
"We're going to be outlining a framework of principles to begin the discussion -- not to reach agreement on, but to begin a framework or discuss a framework of principles on a new international capital accord that will put in place -- again, once the crisis is behind us -- a more conservative framework of constraints on leverage in the financial sector across the major, globally active financial institutions," Geithner said.
This, Geithner said, is a critical part of making the global financial system more stable and reducing the risk that in the future another crisis could occur with a failure of large, individual financial institutions, which could threaten the overall stability of the financial system.
"That's not something that we can accept. And a critical part of preventing that in the future is to know that the system will require more conservative, carefully designed, comprehensive standards for capital and liquidity management for these major institutions," he said.
German Chancellor Angela Merkel and French President Nicolas Sarkozy are expected to press G20 leaders to limit the size of banks, regulate executive bonuses and tighten capital requirements. Many international economists and world leaders have expressed concerns that a lack of sufficient regulation on banks and financial institutions contributed to the recession and its aftermath. Geithner said he and his fellow finance ministers will not talk about numbers at this meeting, but about a framework for principles, and also begin talking about timetables for future regulatory commitments.
"I think one of the most important things we've done in this crisis is to bring the major economies of the world together, including the major emerging economies like China, India, and to get the world to commit to a very aggressive approach to arrest the crisis," Geithner told reporters.
President Obama and his administration are considering a requirement that banks, especially those deemed too large to fail, maintain larger capital levels, but doing so requires an extraordinary balance of competing regulations and requirements.
"This is of course a critical part -- it's not the only part, but a critical part -- of making the financial system more stable in the future and reducing the risk that we face in the future," Geithner said. "This is not something we can take a long time to do."
He said one critical challenge facing the G20 economies is developing an exit strategy. After a self-sustaining recovery is in place, the nations will need to reverse and dial back extraordinary actions taken to end the crisis, such as the huge stimulus measures taken by the U.S. government and Federal Reserve System to protect and strengthen the U.S. economy.
"That is going to require a very careful strategy of coordination across countries, making sure that across the monetary policy, fiscal policy and financial measures we've taken, we're finding the right balance between -- and it's a difficult balance," Geithner added.
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[Daniel 11:14 ]] And in those times there shall many stand up against the king of the south(AMERICA / BABYLON ): ALSO the ROBBERS OF OUR PEOPLE shall exalt themselves to establish the vision; BUT THEY SHALL FALL !
* 16 European Nations . Met And Plotted On How They Would Rob Africa Of Its Riches.
* They met during two(2) Periods of time in two(2) places
* The General Act Of Berlin Conference (Nov, 1884 to February, 1885)
* Brussels Belgium to finalize SECRET agreements ( Nov, 1889 to July 1890)
* The Book “King Leopold’s Ghost (1998) by Adam Hochschild documents some of This information.
The following Nations (Households) - Planned how they would divide among themselves our AFRICAN Riches.
1) Austria-Hungary - Francis Joseph I Charles - August 18, 1830 -
2) Belgium - King Leopold II – April 9, 1835
3) Denmark - Frederik VIII -June 3, 1843
4) France - Marie François Sadi Carnot – August 11, 1837 -
5) Germany - Wilhelm II -– January 27, 1859
6) Great Britain - Queen Victoria (Hanover) – May 24, 1819 – British Ruler – 2nd
7) Holland –William III – February 19, 1817
8) Italy - Umberto I - March 14, 1844 -
9) Norway - Oscar II [Oscar Frederik] – January 21, 1829 (Also Sweden)
10) Portugal - Carlos I – September 28, 1863
11) Russia - Alexander III Alexandrovich – March 10, 1845
12) Spain - Alfonso XIII – May 17, 1886
13) Sweden - Oscar II – January 21, 1829 (Also Norway)
14) Turkey - Abdülhamid II, - September 2 or September 22 - 1842 -
15) United States - Benjamin Harrison – August 20, 1833 -
16) Persia (Iran) - Nasser al-Din Shah Qajar – July 16, 1831 –
For centuries Black Africans have been exploited and exploited in the name of Islam. Then with the coming of the Portueses (so-called Christians) to Ghana around the 1440s , the so-called Christians started their exploitation.
The Black Athena (Part1) [ Spiritual Reparations ] URL – [http://www.youtube.com/watch?v=o4maNtzhL9Q ]
FRITZ SPRINGMEIER A Bold Christian Truthseeker The Top 13 Illuminati Bloodlines [ http://www.youtube.com/watch?v=k73Q2_f4vKU ]
We Black Africans are puzzling. We have a bounty of riches around us, yet we persist in allowing outsiders to steal them; while we fight each other over trivial matters.
Just in case you're wondering, here's some Black Africans who have done wondrous things to change the way we live in the world.
For example : Garrett-Augustus Morgan invented the Traffic Signal to CURB (no pun intended) TRAFFIC ACCIDENTS !!!
* Buridge & Marshman - TYPEWRITER
* George Carruthers - X-RAY MACHINE
* George Washington Carver - PEANUT BUTTER - PAINTS – PAINT STAINS – ETC
* W.A. Dietz - SHOE
* Charles R. Drew - BLOOD PLASMA STORAGE SYSTEM
* Michael Harney - LANTERN
* Augustus Jackson - ICE CREAM
* H.A. Jackson - KITCHEN TABLE
* Isaac R. Johnson - BICYCLE FRAME
* John A. Johnson - WRENCH
* Frederick M. Jones - DEFROSTER - REFRIGERATION CONTROLS – AIR CONDITIONER
* Jones & Long - BOTTLE CAPS
* Lewis Latimer & Nichols - ELECTIC LAMP
* John L. Love - PENCIL SHARPENER
* Tony J. Marshall - FIRE EXTINGUISHER
* Alexander Miles - ELEVATOR
* W.A. Martin - LOCK
* Garrett A. Morgan - GAS MASK - Traffic Signal
* Lydia Newman - HAIR BRUSH - Nov 15, 1898
* W.B. Purvis - FOUNTAIN PEN
* L.P. Ray - DUST PAN
* W.H. Richardson - BABY BUGGY
* G.T. Sampson - CLOTHES DRYER
* .W. Smith - LAWN SPRINKLER
* J. Standard - REFRIGERATOR
* T.W. Stewart - MOP
* Maxine Snowden - RAIN HAT - 1983
* Paul E. Williams - HELICOPTER
* Granville T. Woods - Roller Coaster
* Granville T. Woods - Telegraph Transmission Devices - Dec 2, 1884 Patents # - 308, 816 (7)
Thanks to The Black Inventors Museum P.O. Box 76128 Los Angeles , Calif. (90076) Phone (310) 859-4602)
Director : Ghanaian Mr. Hamza Salifa
Contributor of Information : SEESTAH Imahkus Nzinga Okofo [http://www.oneafricaghana.com/first_and_foremost.htm ]
The Swine Flu Vaccination Hoax - Explained URL – [http://www.youtube.com/watch?v=SbFxV_C8Yw4 ]
[Check Out :
3) Who Brought The Slaves To America ? URL = [ http://www.youtube.com/watch?v=JuzhnKy63io ] Or [http://wideeyecinema.com/?p=911]
WAKE UP !!! STAY UP !!!
[ libradio.net ]
[http://www.infowars.com/infowars.asx]
[gcnlive.com]
Life Is A Game. Have Fun . Luke 18:17 - Isaiah 11:6
The name G20 is motivated by denialism and deprivation considerations. Through the so called G20 the beneficiaries (eg America and Britain) of the world resources will continue to dupe the benefactors (eg Nigeria, Guinea,DRC, etc). what is G20? It is an arena where some claims to be more equal than the others! And stronger states trample on the values of smaller and weakers states with impunity. African delegates at this show of the superpowers must painfully remind the colonial experts that the African map was drawn in Berlin with no single African near the drawing board? Zimbabwe's lack of means today, is as a result of misreable disobidience to the leaders of capitalist states and never an act of administrative lacuna of Robert Mugabe led government as CNN and BBC alone have widely claimed. The atrocities of the profit oriented states have caused a systematic extermination of human values and a total decimation of human lives in Zimbabwe, but President Mugabe is under the beam light? I celebrate the show of intelligence demonstrated by the Malawian president when he re-defines democracy. Any african child who will be participating in the G20, must be aware that the era of systemic change in Africa is knocking at our door and would advise the capitalist leaders to let go the strangle hold on Africa's political and economic development by suffocating our levers of growth via enrouting of our natural resources to their respective home towns in the hills and valleys of their states.
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Active Discussions: G20 Summit in Pittsburgh, U.S.A.