Federal President Horst Kohler
From the speech by Federal President Horst Kohler at the IX Munich Economic Summit on April 29, 2010 Federal President Horst Kohler warns in his last major speech, at the 29.4.2010 in Munich, the “prevailing financial capitalism”. The clarity of this speech is impressive. It is a historical speech. His words were largely ignored by the Federal Government and by the representatives of financial capitalism, Kohler was condemned. It said one of the best connoisseurs of the financial world here: Horst Kohler joined in 1976 in the service of the Federal Ministry of Economics and later he served in the Ministry of finance for the international financial and monetary policy. He was instrumental to the conclusion of German monetary Union and European Monetary Union. in 1993, he was President of the German of savings bank and Giro Association in 1998, and President of the European Bank for reconstruction and development. In the year 2000 was Horst Kohler Director of the International Monetary Fund (IMF), the specialized agency of the United Nations to the Promotion of international cooperation in monetary policy, expansion of world trade, stabilization of exchange rates, lending and monitoring the monetary policy.
He was the supreme guardian of the global financial system. From 2004 to 2009, he was President of the Confederation. Federal President Horst Kohler at the 29.4.2010 at the IX Munich Economic Summit in Munich (excerpts): “imagine, the generators would have installed a new supply system that gives magnificent prizes to them and then all other four weeks blackout.” Imagine, the farmers would be only rich with new cultivation methods and then every seven years to raise a crop failure. Imagine, the waterworks made their tap water us with innovations tasty like never before and then due to innovation all of a sudden no water would come out of the taps more. Imagine, that would have been quite predictable in all three cases and also been predicted.