Amazing how people think that having a meeting for a day or two, a meeting held by individuals who mainly caused the collapse in the first place, will fix anything. Stocks have been rising because of this meeting.
"These people don’t know what to do. If they did, there would be two or three well-defined, fully documented proposals out there, each with national co-sponsors. All of them would have major flaws. They would be mutually exclusive. Economists of various schools of opinion would be mobilizing behind one or another program.
Instead, there are no published plans. There are no working papers. There are only vague promises of joint action. Like what?
There are no detailed plans out of which this team of egomaniac politicians might conceivably hammer into an acceptable plan."
"There is no centralized international planning agency.
There is no international enforcement agency. There is no agreement among central bankers.
There is no unanimity to do anything.
There is not going to be, either. The G-20 meeting will issue some sort of bland statement of hope, and everyone will go home.
They refuse to adopt the only system that every brought unity to governments and central banks: an international gold coin standard."