Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

G7 nations pledge to coordinate their currency market rigging

IMG Auteur
Published : February 13th, 2013
201 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Opinions and Analysis

They say they want markets to value currencies but warn against "excessive volatility and disorderly movements in exchange rates" and pledge "to continue to consult closely on exchange markets and cooperate as appropriate." That is, they will let markets work except when markets become inconveniently "excessive" and "disorderly" and then they will coordinate their market rigging. They won't intervene except when they do. This is all doubletalk.

* * *

G7 Reaffirms Commitment to Market Exchange Rates

From Reuters
Tuesday, February 12, 2013

http://www.reuters.com/article/2013/02/12/us-...dUSBRE91B0IF...

LONDON -- Following is the text of a statement released Tuesday by the G7 nations -- the United States, Britain, France, Germany, Japan, Canada, and Italy.

"We, the G7 ministers and governors, reaffirm our longstanding commitment to market-determined exchange rates and to consult closely in regard to actions in foreign exchange markets.

"We reaffirm that our fiscal and monetary policies have been and will remain oriented toward meeting our respective domestic objectives using domestic instruments, and that we will not target exchange rates.

"We are agreed that excessive volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability. We will continue to consult closely on exchange markets and cooperate as appropriate."



Data and Statistics for these countries : Canada | France | Germany | Italy | Japan | All
Gold and Silver Prices for these countries : Canada | France | Germany | Italy | Japan | All
<< Previous article
Rate :Average :0 (0 vote)
>> Next article
Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
WebsiteSubscribe to his services
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Here's What Will Send Oil Prices...
05 Marovertheedge
"Admittedly there has been a production surplus since the beginning of 2014 but that is nothing new and is forecast to be back in balance by the en...
Another Clinton Scandal
05 Marovertheedge
O, Mr Hoye you must have really infuriated the Clintonistas. Before I voted, you only had 1 vote that was a one star. I tend to think ...
Financial Repression Authority w...
03 Marovertheedge
"The US is only about 50% of global market cap but most US investors have a 'hometown bias" of having 70% of their portfolio in US securities. Fabe...
Bondholders “Bailed In” In Austr...
03 Marovertheedge
"“Bail-in is now the rule” as Irish finance Minister Michael Noonan warned in June 2013. Noonan admitted that the move to not maintain deposits as ...
Bondholders “Bailed In” In Austr...
03 MarArgus
Shortly after the Cyprus test run, Canada's budget document made provision for bail-ins in the event of significant 'systemic risk' to the banking ...
Illinois Pension Plans 39% Funde...
02 Marovertheedge
And it gets even worse. The unfunded pension liability monies aren't invested and never will be. You can't pay pensions out of an unfunded ...
China is about to overthrow Lond...
28 Febneville
This a good slap in the face for the downright crooked bullion banks,traders that have been front running ie algorythm trading etc It had to ta...
A Salvo in the Battle for the Go...
27 Febovertheedge
I would argue that the devil is in the details, i.e. the definition of money. What the people of the US are using is currency. Currency bei...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
TristarTOG.TO
TORC Oil & Gas Ltd. Announces 2014 Fourth Quarter and Year-End Financial & Operating Results
CA$ 10.17+2.52%Trend Power :
Financials
Altius Min.(Ag-Au-Co)ALS.TO
and Callinan combination to create a diversified mining royalty company leader
CA$ 12.05-4.89%Trend Power :
Corporate news
Tahoe ResourcesTHO.TO
Declares Third Monthly Dividend For 2015
CA$ 16.23+1.37%Trend Power :
Corporate news
Sprott Resources(Ag-Au-Co)SCP.TO
Resource Corp. Announces 2014 Annual Results
CA$ 1.28+2.40%Trend Power :
Corporate news
Vista Gold(Cu-Le-Zn)VGZ.TO
. Announces 2014 Results and Provides Update on Recent Activities
CA$ 0.47+11.90%Trend Power :
Corporate news
Major DrillingMDI.TO
Announces Third Quarter Results and Declares Dividend
CA$ 6.43-0.16%Trend Power :
Corporate news
UR-Energy(Ur)URE.TO
Releases 2014 Year End Results
CA$ 1.32+14.78%Trend Power :
Financials
Rockwell(Cu-Gems-Ni)RDI.TO
Announces Filing of Preliminary Short Form Prospectus
CA$ 0.22-13.46%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Proposed Reverse Takeover of Artha Resources
CA$ 0.03-14.29%Trend Power :
Corporate news
Goldcorp(Cu-Le-Zn)G.TO
declares third monthly dividend payment for 2015
CA$ 25.88+1.69%Trend Power :
Corporate news
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.