Alex quotes: The IMF was set up to give credits to governments in difficulty, so as to reduce or eliminate the need to devalue currencies.
William Pfaff Los Angeles Times Syndicate, International Herald Tribune***
Point #1)
Would have been more accurate if Wm Pfaff would have written the above in the following manner:
The IMF was one of 2 financial organizations created to give
short-term assistance credits....
Also,
Point #2)
Pfaff continues: The Bretton Woods system of currency stability was destroyed in 1971 ...
au contrairŠ, Pfaff!
part of the Bretton Woods systems was only "set aside", but that Nixonian action
A) has not invalidated the entire agreement;
what an arrogant and illogical statement...
44 nations agree, and one Tricky Dicky single-handedly destroys all 44 nations cooperation? NOT!!!
B) the very birth of the EMU and the upcoming AMU is still part of the original B-W Currency Accord agreement,
which, read my lips: is still in place,
and its timeline still very much on schedule for those births of 2 new currencies...even as envisioned over 50 yrs ago back in those now famous New Hampshire wooded retreat for Keynesian refugees.
Return to Bretton Woods Currency Accord?
Do these young whippersnappers reporting on and calling for
this...INCLUDING RUBIN WHO SHOULD KNOW BETTER (...but then he's bringing out Goldman Sachs at a shitty time for an IPO launch)
understand what they are asking for?
Oh, and the last Point #3
Pfaff writes: Clinton took refuge last Monday in CFR library on Park Avenue, New York....
bet it was more like a bad "B MOVIE" script of calling on the carpet.
What a messed up global economy our sweet little
Keynesian Koncord Konference konvolutedly kreated!!!!
Seriously folks, what are we leaving our kids and grand kids? And we built PHYSICAL bomb shelters to protect us from "thems?"
Got a newsflash for ya', folks...
THEMs ARE US!!!
We should have been building FISCAL bomb shelters, yes?
Ole student of B-WCA history 49r
***
Pfull Pfaff Pfulminations/article available at:
exchange2000.com |
