Now that the G20 Summit – and all the other summits – are finally over, along with all the backslapping of participants – not everyone is buying.
One of those skeptical voices belongs to Swiss columnist Patrik Etschmayer, who wonders whether spring fever might have gone to the heads of leaders who seem to believe that throwing more unsecured money at a problem that began due to excessive unsecured money is really the way to address the crisis at hand.
For the Swiss newspaper Nachrichten, Patrik Etschmayer writes in part:
What we witnessed over past weeks was akin to political porn – one climax followed another. Even the most jarring differences seemed to suddenly evaporate into harmony … What no one involved in all the hubbub seemed to notice was that in spite of the big words and bigger promises of how everything was to be much-better regulated, everyone just kept bumbling and fiddling on in exactly the same manner. … If memory serves, the entire crises was brought about by too much liquidity secured by too few assets and too few real goods and services, all of which was made possible by the American Federal Reserve. The whole thing was a gigantic Ponzi scheme supported by the FED and driven by an economy that blindly believed in quarterly reports and short-term profits. And among it all, something was seemingly forgotten: Money in and of itself is worthless.”
By Patrik Etschmayer
Translated By Patrik Etschmayer
April 7, 2009
Switzerland – Nachrichten – Original Article (German)
What we witnessed over past weeks was akin to political porn – one climax followed another. Even the most jarring differences seemed to suddenly evaporate into harmony amidst the white lists, gray lists and black lists. And if an uncomfortable Dane was slated to lead NATO, a few concessions were no doubt passed under the table to Turkey regarding E.U.-membership.
[Editor’s Note: Danish Prime Minister Anders Fogh Rasmussen was named NATO secretary general at the Alliance’s summit in Strasbourg, which upset Turkey since as prime minister, Rasmussen, on the basis of free speech, defended the cartoonist who drew satirical cartoons of the Prophet Muhammad. see photo box, right].
READ ON AT WORLDMEETS.US, your most trusted translator and aggregator of foreign news and views about our nation.
Founder and Managing Editor of Worldmeets.US