GGN- Secret Summit of Top Bankers in Australia

http://www.news.com.au/business/secret-summit-of-top-bankers/story-e6frfm1i-1... THE world's top central bankers began arriving in Australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets.

Representatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location, the Herald Sun reports.

Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies.

Speculation that the chairman of the US Federal Reserve, Dr Ben Bernanke, would make an appearance could not be confirmed last night.

The event will be dominated by Asian delegations and is expected to include governors of the Peoples Bank of China, the Bank of Japan and the Reserve Bank of India.

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The arrival of the high-powered gathering coincided with a fresh meltdown on world sharemarkets, sparked by renewed concerns about global growth and sovereign debt.

Fears countries including Greece, Portugal, Spain and Dubai could default on debt repayments combined with disappointing US jobs data to spook investors.

Australia's ASX 200 slumped 2.4 per cent, to a its lowest close since November 5, echoing a sharp fall on Wall Street.

Asian share markets were also pummelled, with Japan's Nikkei 225 down almost 3 per cent and Hong Kong's Hang Seng slumping 3.3 per cent.

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[agfigueroaa]

In reality, I do not think that they have all their money in hard assets, because they are utilising it for keeping the system afloat. More precisely, to supress the price of gold.

[ddarko2012]

It's my understanding that they're using our debt, to pump into the markets, along with manipulating interest rates among other things to keep the system afloat, they're buying time, before the derivitives/fiat/fake money market gets out of control. I was referring to the individuls from the central/private banks and how they personally are most likely invested in hard assets and not the paper market that they use to rig economies and scam us with.

[riteshkhurana]

I do agree with you bro. It is not a recovery, it's just an artificially created growth. In the U.S. from 2001 to 2007, the gdp went up by $4.2 trillion, but the debt went up by $ 21.3 trillion.

Chinese economy is also gonna blow up. Their loan growth in 2009 and 2010 has been very strong as compared to their gdp growth. In 2009, the loan growth was 22% - 25% and the gdp grew up by only 9% - 10%.

[TABOOVSKNOWLEDGE]

Of course they aren't interested in in there oun monopaly money.

Hard assets is where it allways been.

[agfigueroaa]

yes, it is true. But, they need to keep low the price of gold, so the scum can work.

Otherwise, the price of godl would be.... $3,000 dollars.