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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Keith Fauci who wrote (3313)4/2/2002 4:18:54 AM
From: Yorikke  Read Replies (2) of 3536
 
Well, Keith I can not say that I agree that 'Any system that gives more power to the United Nations is a bad idea. However I would agree that the UN needs some major reforms and some countries have to be cured of their juvenile attitudes toward power. But that's a long process and will take some time.

I don't see that the tax will ever be approved, though I think it has good point to it. I agree with Tobin who wanted the tax to limit speculation and provide some money for development. I do not really care to put it into any other kind of political framework.

There are some strange points of view on both sides of an issue like this. But the extremes never answer the question of how one attempts to limit the effect of currency speculators and how we fund development in the poorest of countries. I would just like to point out that currency speculation has been a major culprit in creating some of the largest of the past decades monetary crises and that the fodder of rebellion (terror) is fermented in the lives of the wretched and 'educated middle class' from the poorest of countries. (There is nothing more dangerous than an educated man who understands the hoplessness of the future of his own people and children.)

Tobin threw out a good idea. Its nonpolitical and its realistic in its goals. Proposing a good idea is more than 99.9999... percent of the world is capable of. Applying it is of course much harder. But its something that should be looked at closely.
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