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teddy

Off topic, a Washington nuclear-weapons analyst has reported seeing satellite photos of China's new Jin-class nuclear-powered submarine capable of launching intercontinental ballistic missiles against the United States in northeast China. The Pentagon has said the system could be ready for regular patrols sometime between now and 2010. So is China going to become the world's global policeman as well as its banker and industrial center?

Elaine Meinel Supkis

China has known for many years that the day the US starts to have difficulties paying for its 25% of the world's resources, we will start WWIII. So they must be able to not only protect themselves but be able to do what we do. This is how all arms races begin.

Their logic leads to wars, ironically.

Frederick N. Chase

The UK Government must suspend a set of key banking regulations at the heart of the current financial crisis or risk seeing the economy spiral towards a future that could "make 1929 look like a walk in the park", one of Britain's leading economists, Peter Spencer, has warned.

He warned that, if London's money markets remained frozen and the authorities retain the strict Basel regulations, the full scale of the eventual credit crunch and economic slump could be "disastrous".

Spencer argued that banks were prevented from lending cash because it could leave their balance sheets falling foul of the Basel regulations.

"If these funding routes are not reopened it will have massive consequences for the economy as a whole," he said. "It will make 1929 look like a walk in the park."
The Financial Services Authority must go round and check that all banks are solvent, and then it should cut the Basel capital requirement level from 8pc to about 6pc.

Jim Sinclair's comment:

In my life I have seen some really dumb things, but this may take the cake: "Reduce the Capital Requirements for the Banking Institutions."

The URL (in two pieces) is: http://www.telegraph.co.uk/
money/main.jhtml?xml=/money/2007/12/15/cnbanking115.xml

DeVaul

Yeah, I read that, but you need to post this under the most recent article so others will read it too.

Go to the main page and repost this under the article on "Dragon Talk" in Money Matters.

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