“India is pushing for joint ‘shock-and-awe’ intervention by key developing states to halt capital flight and shore up currencies, in a move that risks backfiring and triggering a vicious spiral. ‘It is going to happen in a matter of days rather than weeks, Brazil and India can start the move,’ said Dipak Dasgupta, a top Indian official. Mr Dasgputa told Reuters that China, Brazil, India, Turkey, Russia and South Africa have all been squeezed as the US Federal Reserve prepares to tighten monetary policy. Joint action would give emerging markets greater firepower, allowing them to deploy their combined $8.7 trillion (£5.6 trillion) of reserves and crush ‘speculators’, rather than being picked off one by one.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Papua New Guinea bans Facebook for a month, plans local replacement
Google patents software that can intelligently identify any object on the planet
Obama to demand gun control measures while surrounded by children
Fired Fort Worth officer indicted for stealing $20,000 from business
NRA, gun rights groups target Sunnyvale, California, magazine ban
PETA angry over plan to control Guam’s snake population with toxic dead mice
Swiss court rules handing over bank employee info to US illegal
Australian Mining Companies Are Desperate For Workers And Want To Hire US Veterans
Former cop gets two years in prison for polygraph coaching website
Bitcoin goes big: Wall Street, Silicon Valley aboard
John Kerry, 1971: 'I Don't Think U.S. Can Apply Moralism Around The World'
Assad did not order Syria chemical weapons attack, says German press
Federal Reserve rethinks 2003 move allowing banks to trade physical commodities
US issues global travel alert over Al Qaeda threat, prepares to close embassies
Iran Receives 13 Tons of Gold in Sanctions Relief