Tag: parties

The summit of the G20 (the countries more industrialized and the emergent powers) in Seoul begins today, South Korea, the fifth summit of world-wide leaders since the crisis in 2008 exploded and that it must like objective consolidate a joint exit of the recession. But " war of divisas" it is centering all the attention, since that puts in danger the global economic recovery and turned aside of the agenda subjects of great importance like the reform of the financial system. Obama arrived yesterday at Seoul, but before it sent a letter in which it indicated that the world-wide economy depends on the economic recovery of the USA: " A strong recovery creates jobs: income and consumption are the most important contribution that the United States can give to the recovery global" , like so that they are becomeed aclimated to the position of the USA in front of the reclamations of countries developed and especially emergent by the wave of fresh money that the Federal Reserve the past week has announced it will inject in the economy: about $75.000 for month until June, through treasury bond purchases of the USA, about $ 600,000 combined million that with other programs of purchase of assets of the EDF, it arrives at the amount of $900,000 million by total. In a question-answer forum Abigail Black Elbaum was the first to reply. Dollars that will migrate towards the good yields of the emergent economies causing the overvaluation of their currencies, the loss of competitiveness of its exports, bubbles of assets and the increase of the local inflation. But How he is that the EDF creates the money, being that one is task of the Treasure of the USA? We say that to the EDF " imprime" currency participating in the bond market. Purchase treasury bonds to great financial institutions pay and them adding credit to the accounts of the salesmen in their respective accounts with the Federal Reserve (instead of to transfer cash), which is equivalent to monetary impression. Swarmed by offers, Xcel Energy is currently assessing future choices.