"With financial institutions falling prey one after another to the global credit crisis, the bailout packages announced by various governments across the globe are inching towards two trillion-dollar mark"
Rising Tide
The 62 trillion dollar CDS /CDO mess is yet to start unravelling! The credit card dues of US$20 billion have started piling up. Derivatives contracts have not yet started unwinding at full speed. They will start becoming due in another 3 months to 9 months.
Announcement
The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping - and unprepared. But, not 2ndlook - who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.
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