Wednesday, October 31, 2012

SAH - HE Sheikh Ahmed Zaki Yamani interviewed by George Negus - video

Source: http://www.youtube.com/watch?v=FO0DKszoi-8

JEA - THE OIL CRISIS: THIS TIME THE WOLF IS HERE

THE OIL CRISIS: THIS TIME THE WOLF IS HERE
By James E. Akins

"In a recent meeting in Kuwait it was suggested that Arabs accumulate their money and simply float it from country to country, depending on how each country reacts to Arab problems. T'he difficulties of such an action are surely underrated, but the fact that it was considered and debated must give us some pause. Frankly, however, it is a problem I am convinced we will never face. I do not believe the Arabs will ever accumulate anything remotely approximating the figure of $100 billion. Either they will spend the money at home or in the Arab world or they will find adequate investments for it abroad. If they do not, or cannot, they will very likely conclude that the oil had best stay in the ground—and this would cause a problem for the developed world far greater than the floating billions"
...
"OPEC cannot usefully be compared to other producer cartels. It controls a product which is irreplaceable in the short run, and is vitally necessary to the economies of every technologically advanced country. The main oil producers are not competing with each other for larger shares of the consumer market—as would be the case in other producer cartels. Probably the most important reason for OPEC solidarity is that the key countries, notably Kuwait, Saudi Arabia and Libya, do not need more income; they are unsure of how they could use it if they had it, and they fear the international consequences of acquiring too much wealth."
 ...
"The Kingdom of Saudi Arabia, without doubt, could destroy OPEC. It could produce oil in much greater quantities than it does today; it could drive the price of oil down to the mythical $1.00 a barrel, and every OPEC country would be ruined. But Saudi Arabia would also ruin itself in the process. Using the economists' expression, Saudi Arabia would not "maximize" its income; it would only "maximize" its production, and even its enormous reserves would soon be exhausted. It is difficult to see what folly could possess Saudi Arabia to take such action; any consumer government that assumed that Saudi Arabia would (or could) do this without an internal revolution would be guilty of an even greater folly. "



Source: http://www-personal.umich.edu/~twod/oil-ns/articles/for_aff_aikins_oil_crisis_apr1973.pdf

Thursday, October 25, 2012

WW - Which Way Forward? 5/6 - video

William White, Chairman of the Economic Development and Review Committee, Organization for Economic Co-operation and Development (OECD) speaks on panel, entitled "Which Way Forward: Reflections on Global Turmoil and the Role of Markets, Governments, and Civil Society" at the Institute for New Economic Thinking's (INET) Paradigm Lost Conference in Berlin. April 12, 2012

Source: http://www.youtube.com/watch?v=gsQ_rSeysAA&feature=plcp

C-LH - Optimal Currency Areas and Governance - The Challenge of Europe - video

Carl-Ludwig Holtfrerich: Optimal Currency Areas and Governance - The Challenge of Europe (1/8) 


Source: http://www.ecb.int/stats/exchange/eurofxref/html/eurofxref-graph-usd.en.html

Tuesday, October 23, 2012

LAT - on Economics, Conventional Wisdom and Public Policy - video

Lord Adair Turner, Chair of the FSA, on Economics, Conventional Wisdom and Public Policy

Source: http://www.youtube.com/watch?v=1Vz0vBz9x7E&feature=relmfu

WW - Anatomy of Crisis: Economic Theory, Politics and Policy


Source: http://www.youtube.com/watch?v=MPmdGRH5S4A

GS - The Living History of the Last 30 years

Source: http://www.youtube.com/watch?v=XVC9mwQqWIY&feature=relmfu

TPS - Keynote Speech, INET Conference @ King's - video

Mrt: "No system lasts forewer."

19:36 min
Enjoy!

Source: http://www.youtube.com/watch?v=W3lggNnTjbM&feature=related

Swiss gold franc web site - update

An update on the Swiss Gold Franc initiative.






 Source: http://www.goldfranc.org/newsletter/


Video: http://www.youtube.com/watch?v=EtCHs5lg7ug

1st Source on AFB: http://anotherfreegoldblog.blogspot.fi/2011/08/swiss-gold-franc-web-site.html


Thursday, October 18, 2012

BIS - Past and future of central bank cooperation: policy panel discussion


BIS Papers
No 27
Past and future of central bank cooperation: policy panel discussion

Fourth BIS Annual Conference, 27-29 June 2005 - celebrating 75 years of the Bank for International Settlements, 1930-2005

Monetary and Economic Department
 
February 2006


1. pg 13 Opening remarks - W R White

2. pg 29 Comments - P.Volcker

Source: http://www.bis.org/publ/bppdf/bispap27.pdf

BIS - AG - Leuven - Mr. Greenspan addresses some key roles of a central bank

Mr. Greenspan addresses some key roles of a central bank

Remarks by the Chairman of the Board of Governors of the US Federal Reserve System, Mr. Alan Greenspan, at the Catholic University of Leuven on 14/1/97.

1997

Source: http://www.bis.org/review/r970116.pdf?frames=0