"The dollar," said Canadian Finance Minister Jim Flaherty at the Group of Eight (G-8)meeting of his colleagues last weekend in Osaka, "is a market currency." And "one does not interfere with a market currency".
The G-8 finance ministers basically admitted there was not much they could do about the recent worldwide increases in the price of oil, which has more than doubled from a year ago, or, for that matter, other commodities. All that they could bring themselves to do was to commission a study from the International Monetary Fund to determine what effect speculators may be having on oil supplies.
- ► 2011 (58)
- ► 2010 (53)
- ► 2009 (473)
- The Debts of the Spenders: Credit Crunch Forces Am...
- The Debts of the World: Finally Someone Defends th...
- The Debts of the World: The Story So Far
- The Debts of the Lenders: Hard Landing in Vietnam
- The Debts of the Spenders: The Great Game
- The Debts of the Spenders: Crisis in Muni Land
- The Debts of the Spenders: Australian Gas Crisis E...
- The Debts of the Lenders: Asians Retreat from US B...
- The Debts of the World: Is Peak Oil a Myth?
- The Debts of a Nation: Speculators and Regulators
- ▼ June (11)