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 Can the G20 save the world from global financial meltdown?

The question Can the IMF save the world from global financial meltdown? is raised in The Goldwatcher Chapter on Globalisation and Global Economic Re-balancing. After reviewing initiatives on adjusting global  imbalances I concluded all the IMF really achieved was to ‘convince China and America’s other creditors that the worst thing they could do with their money would be to leave it in low interest rate US Treasury Securities - ‘knowing that the dollar will continue falling.’  I was dead wrong on that call for a while. The dollar strengthened by the time the book was published. 

But the IMF appeared impotent when the casino capitalism house of cards was collapsing last November.  It was The G20 that met urgently in Washington and secured a consensus on joint emergency actions ‘to restore global growth and achieve needed reforms in the world’s financial systems.’ 

The April 2nd G20 Summit in London has recorded  wide ranging  understandings on the spectrum of  economic and financial challenges menacing the world, including beefing up the IMF financially and operationally.

If we read the official hype in the G20 communiques we get the impression that not only can they save the world but they have. If we read the views of the commentariat we find serious challenges to these claims.

The Goldwatcher approaches the G20 initiatives as both  essential and generally positive - but by no means enough to assure that global financial  crises are resolved. Ian Campbell, the founder of the indispensable web resource Stock Research Portal.com will be publishing  a Newsletter series on gold, currencies and associated economic issues. He has invited me to write the first contribution, a two part article on:

1) Gold and the Casino Capitalism House of Cards; and

2) Whether the G20 and the IMF can save the world from global financial meltdown.

This is the link to the articles on the Stock Research Portal website. Part One and Part Two are now also posted on this website.