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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Logos who wrote (5852)	8/24/1998 10:03:00 PM
From: Frodo Baxter	Respond to of 9980

>So what will you replace it with? And when do you propose to do this? It's clear that we need something like the IMF for the present and forseeable future, since even though it sucks, the alternative is worse for everyone. I think we should denude the IMF of any real power, maybe hold back a few payments, just to show who's boss. In other words, make the IMF have as much de facto power as the UN. A loser like Camdessus should have as much power as Kofi Annan. In times of crisis, we can convene a ad hoc bailout squad. Have it led by real proponents of democratic capitalism, not these pseudo-socialists and tinkerers. How about Uncle Milton? After all, it's our money. Why should we promise it away into a sinkhole? Yeah, there'll be some canard about American meddling and American imperialism, but so what... that accusation is not exactly foreign to our international policy, now is it?