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Great, down to earth, commentary! Too much fog is created right now. Just look at the "David Copperfield"-like passing of a dictator (Was he one? Sure, who isn't these days!) in Babylon with the cheering hurrahs of his opponents - and henchmen...
So, so - U.S. Treasury Secretary Henry Merritt "Hank" Paulson Jr. (born March 28, 1946) is said to have been arrested in Germany. On Dec. 21 he still looked fine, according to this pic from the U.S. embassy in Germany, meeting with his German colleague, Peer Steinbrueck (right), where they were discussing the onging quarrels of the "derivate-policy" between GB/U.S. and the Euro zone.
So, Paulson was still well and free before Christmas, and besides those articles which all lead back to http://www.worldreports.org - there is nothing to be found that it was so indeed! Wishful - or want(a)ful thinking? Maybe, as it's likely possible that you wouldn't hear from the "arrest" of a Finacial Minister of the most powerful nation of the world anywhere....
But as I said this "rumor" may indeed indicate that there is really something "cooking" in the world of Global finance! The derivatives trading market is the point that causes the real headaches!
If you earn a multiple times more MONEY with "gambling" ON PREDICTION ON PRODUCTION than with PRODUCTION ITSELF - there's something rotten...
Hedge funds have reached a worldwide face value of $480 trillion already!!! 30 times the size of the U.S. economy - and 12 times the size of the entire world economy. That means that the U.S.-connected economy is almost HALF OF THE WORLD'S ECONOMY! Derivatives trading has become not merely a huge boom or even a large bubble - but the mother of a whole tribe of bubbles!!! Influencing the entire financial sector worldwide.
Another interesting thing happened - almost unreported - just so lálá, as you can read on BBC:
UK settles WWII debts to allies
Britain needed money for reconstruction and importing food
Britain will settle its World War II debts to the US and Canada when it pays two final instalments before the close of 2006, the Treasury has said.
The payments of $83.25m (£42.5m) to the US and US$22.7m (£11.6m) to Canada are the last of 50 instalments since 1950.
The amount paid back is nearly double that loaned in 1945 and 1946. "This week we finally honour in full our commitments to the US and Canada for the support they gave us 60 years ago," said Treasury Minister Ed Balls.
"It was vital support which helped Britain defeat Nazi Germany and secure peace and prosperity in the post-war period. We honour our commitments to them now as they honoured their commitments to us all those years ago," he added.
The last payments will be made on Friday, the final working day of the year...
Did you get that? Although it's not "much" (Hey I could live on that!) facing the value of those "speculative" transactions, it's a SIGN! Similar to what Russia did when she payed back her debts towards the IMF about two years ago. Getting INDEPENDANT from the US$, if YOU OWE SOME!
OK, lets go back to a little episode about our "focus of these days"! No - I don't mean Saddam as he is dead now, officially at last. I mean the former CEO of Goldman Sachs and "specialist" on derivatives tradings (Do you get it now, WHY a "specialist" on hedge funds HAD TO BECOME head of the U.S.Treasury??!!): Henry M. Paulson jr....
Hank Paulson's secret life The CEO of Goldman Sachs is passionate about banking. But he's also obsessed with snakes, tarantulas, and coral reefs.
By Patricia Sellers, FORTUNE
Monday, Dec. 29, 2003
Bouncing in the back seat of a Toyota 4Runner as it crawls along volcanic clay roads through the jungle, Hank Paulson, the 57-year-old chairman and CEO of Goldman Sachs, wants nothing more than to get where he's going and make an important phone call. That is, until Jason, our driver, pumps the brake and remarks coolly, "Look, a snake."
"Where?! Stop!!" Paulson shouts. Leaping from the SUV so frantically that a passenger in the vehicle behind us thinks, "Hank has seen a dead body or something," Paulson races down the road, poking at the thick underbrush. He fails to find the reptile. "I love ..." he says sadly, his voice trailing off. "Snakes?" I ask. "Yes," he replies matter-of-factly. "I like to hold them and look at them."
When he finally makes that phone call, Paulson gets the good news that a Goldman-advised mega-merger is a go. (Bank of America will buy FleetBoston, we learn when the deal is announced the next morning.) "I'm in a really good mood!" he says. But his business triumph doesn't erase his disappointment at missing the snake. Wendy, his wife of 34 years, can immediately tell that Paulson has had a reptile experience. "He had that snake look in his eyes," she says....
So, speaking of "reptile experience" I think this man really qualifies for the job he is on right now. Further, I don't think that he is in jail - or a terrarium, respectively - right now, as he might be simply enjoying his holidays - surely in warm climate. But possibly although, together with his favourite reptile...
