Friends, it may have come to your attention that there is going to be another talk fest in Britain beginning next Thursday. Yes, the heads of Government and, earlier in the week, all their finance ministers, are going to get together and discuss how to fix the current economic and financial crisis which is upsetting our world by lowering real estate values and share markets and causing a large rise in unemployment and a lack of credit.

Ahead of the Summit, on Saturday, there is a protest being planned by those who are unhappy with the current situation whereby taxpayers’ money is being used to bail out the crooks that have brought the world into crisis. According to Reuters, police are expecting crowds in excess of 40,000 in London and have advised banksters to keep a low profile. Many banks will stay closed throughout the Summit week and employees who come to work are advised not to wear uniforms or carry bank advertising.

On show at the Summit will be the two opposing forces: the Europeans led by France and Germany who want to tighten up regulations to stop banksters and finance companies and hedge funds and people like Stanton and Madoff, etc, from engaging in dubious frauds and risky speculation and the U.S. model which wants a bit more regulation but, ideologically, prefers completely free markets with little or no government regulation in spite of the current disaster which their greed-based ideology helped to create.

China makes a third string to the bow and it is calling for the U.S. dollars to be pushed off its pedestal as the world’s major currency and a new world currency created, one that is not related to the foibles of the carpetbaggers and militarists who run America.

It seems that Britain and Australia are supporting the U.S. position so it will make for an interesting summit as the various groups wheel and deal and try to come up with a compromise that is unlikely to please anyone or that will solve the huge problems that currently exist.

Of course, the solution is simple and obvious. We need to set up a world economy, one run by a powerful Central Authority rather than a gaggle of competing sovereign nations all espousing cooperation while putting their own self-interest first. Some are even involved in hegemony!

This Central Authority should have complete power over all financial institutions AND huge corporations which have their tentacles spread all over the world, corporations which move money around at a frantic pace so it is virtually impossible to know how solid they are or how much they are really worth. And this Central Authority should also have control over the world stock markets and be able to stop things like short selling and the cynical manipulation of market fluctuations by big investors and, dare I say it, media proprietors.

Now, any capitalist reading this will probably be foaming at the mouth at the very idea of such controls being put in place. For obvious reasons, they prefer a survival of the fittest regime. They love to make billions without having to answer for the environmental damage they cause. They prefer a system that, because of accounting loopholes,  allows them to pay no tax and live lives of unimaginable luxury while much of the world starves.

So what will happen at the G20 Summit? Probably very little. The people who are attending have no real interest in coming up with a new system that works for the benefit of all the world’s people. The people who are attending are only interested in keeping or increasing their own power while advantaging their own country and maintaining favor with those who support them with large political donations and freebies and good press.

Of course, there will be some tinkering around the edges. They’ll bring in some regulations that will be quickly circumvented by lawyers and accountants and, once the credit starts flowing again, we’ll soon be back in the greed-driven boom and bust cycle again.

I’m sorry to be so cynical but the Masters of the Universe are not going to allow any centrally-controlled, altruistic, ethical, equality-based financial or economic system to be created, not while suckers exist in such large numbers.

Hopefully the protest on Saturday will draw many people. It will be helpful if the meetings during the week and the Summit on Thursday can be held against a backdrop of public anger and frustration.

That may help to focus some minds at least for a short time!