Managing Director of the International Monetary Fund, Dominique Strauss-Kahn has warned everyone that the global financial crisis is far from over, and if the situation is not handled appropriately, the next crisis could be right around the corner.
Strauss-Kahn goes on to urge the leaders of the world not to veer away from the global cooperation that was formed during the height of the crisis of 2008. If countries start to concentrate only on their internal problems within their own nations, it could create global instability.
All this is in spite of any progress that has been made within the financial markets since the near meltdown.
In the speech prepared for the UN Institute for Training and Research’s “Geneva Lecture Series,” Strauss-Kahn focused on the importance of legitimate global governance in responding to and preventing any future crises.
Going forward, “When the next financial crisis hits — and it is a matter of when, not if — we must be prepared,” Strauss-Kahn said, stressing the need for the financial sector to contribute to the cost of repairing the damage from a crisis.
“And we cannot expect taxpayers to once again foot the bill. This is why the financial sector must shoulder a substantial yet fair share of the costs that risktaking imposes on the economy. That is why the IMF has proposed a tax on financial activities, although so far without success,”
With these statements made today and the statments that came out of Bernanke’s mouth Sunday on 60 minutes, metals investors will be happy regardless of any manipulated corrections that happen.
Be sure to call some metal home just in case. Using Strauss-Kahn’s words, “We need to be prepared…”
If you have no idea how to acquire bullion, complete the form to the right and a metals dealer will be in touch. If you are already acquiring metal, they will beat any deal you may have out there for .999 coins, ingots and/or bullion.
Strauss-Kahns speech can be heard here;
It is in French, sorry you will have to find your own translator, but here’s the link;