USA and UK wan to apply the inverse mode of the "Sanson Syndrome", something like: "if you don't want to fall with us, then, save us with your currency reserves".
One cannot expect a great deal out the G-20 summit, when the very host ignores incredibly its meaning, and UK has set limits to the solicited "regulation" and "reforms" to the extint international financial system that is controlled by the anglosaxy couple, and by extension, the G-7.
It seems that the bush regime and the british premier Gordon Brown seek the world refinances their broken financial casino.
While Baby Bush entrenches himself in his own catatonia, Brown is willing to yield a tiny portion of the stock assents from its insolvent banking to the arabian oilmonarchies (strengthened with their "sovereign wealth funds), in expectation for better times to eject them "sovereignly" by kicking them, but never to yield total control over their corporations nor, mucho less, accept a regulatory reform to their "invisible accountability" in their "tax heavens" (Hernsey, Guernsey and Isle of Man) where money laundering is practised generously. It would be like announcing the official death of Great Britain, who would rather push the USA and Israel to a World War III.
Sadly, they are the war winners since many centuries ago (Netherlands, Great Britain and the United States) who have imposed the "new financial order" which is more appropiate to their corporative interests.
Bretton Woods reforms in 1944 were impossed by the United States and Great Britain in the eve of ending with World War II. In these moments, these two countries and Israel have lost some wars (Iraq, Afghanistan and Lebanon), which have accelarated their decay, but they are not suffering yet a total defeat that push them to adopt without replying the conditions of Europe and BRIC (Brazil, Russia, India and China).
It would be very "naive" to expect an act of human generosity on behalf the United States and Great Britain to accept a "new Bretton Woods" that affect their interests.
Russia, the country the United States and Great Britain want to isolate (as well as France), won't accept the edulcoration from the anglosphere led by the City and Wall Street with the end of preserving their global financial hegemony.
Before the Federal Assembly of the Russian Federation, Dimitri Medvediev expressed his country will survive the american financial tsunami. It is worth mentioning that Russia has been victim of a genuine "financial war" from the Cirty, which has destabilized their finances, putting at risk their stock market and currency. You just have to read the british press to be aware of the fierce campaign against the vulnerable finances from Moscow, despite their solid financial numbers.
Dimitri Medvediev pointed the survival determination of Russia, that we don't to never forget Russia is the only nuclear contender for the United States, passes for the abolition of the global financial system, nowadays a complete failure, but that the US-UK couple wants to imposse to the entire world for their own unilateral benefit, Medvedieve mentioned he has prepared his proposals for the G-20 summit. We have to look how they are received by Baby Bush.
It is interesting to mention the way the financial crisis matched with the UK-US-Israel attack from Georgia to South Osetia which both were the major two events for this year 2008.
He explained that after the "barbaric agression" to South Osetia, the NATO moved their warships to the Black Sea, while the US intensified their missile deployment (ABM) in Eastern Europe, which has destabilized the foundations of the global order.
Beyond the countermeassures taken to counterattack the angosaxon fence, Dimitri Medvediev called for a radical reform of the political and economic system, and commented that Russia is willing to work hand in hand with the United States, the European Union, the other three countries of the BRIC, as well with other countries to achieve such goal.
He pronounced for the configuration of a "new global financial architecture" with "new rules" and for the need of "preventing a crisis emergency and minimizing its effects". He called for the development of "new risk assesment system that take into account the relation between the financial institutions with the real economy" and proposed Russia as a "new center of global financial leadership" that quotes russian hydrocarbons in rubles.
He Yafei, vice-minister of Foreign Affairs from China, advanced the three topics of debate for the G-20: 1) Assesment of the meassures take for the american financial tsunami; 2) a debate to look for the causes of the crisis, and 3) the "exploration" of the new regulatory foundations and systemic reforms.
There were no need to have a G-20 meeting to "review" the meassures take so far have been poor and have only helped to save the G-7 banking plutocracy (extensive to their tropical toons like the "neoliberal Mexico", where Calderon has been more worried to save the parasitical Cemex than helping common business and citizens).
It would more than byzantine to discuss the "causes" of the crisis explossion when is widely known the guilty: the deregulated financial globalization (with its lethal "financial derivatives", its "invisible accountability" and its "tax heavens"), which was imposed by the USA-UK couple to the world.
In regard to the "exploration" of the reforms and its regulation it turns out nothing else than a esteril effort when the United States (in decaying phase of Baby Bush and awaitin the climb of Obama) and Great Britain are clung to a model that have benefited them substantially and that they pretend to preserve with the minimum damage and at the cheapest cost possible.
Even the Wall Street Journal (11/07/08) confesses that massive sales of hedge funds by the thousands of millions of dollars, to refund money to investors in plain panic, as consequence of the great losses in the ludicrous bets, constituted the main factor for the global stock crash.
According to The Financial Times (11/11/08), when the monetary recipes are exhausted, the G-20 is prone to a "coordinated financial stimulus" by a tax reduction and increase in public expense, meassure needed but not enough from the structural point of view, since they are not even approaching the pernicious "dollar hegemony" nor the model itself of global neoliberalism that was so lethal.