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PAX, LUX ET VERITAS SINCE 1965
Post re: Economics: Oil and Ron Paul (Bienvenido Macario, Philippines/US)
Created by John Eipper on 08/16/09 8:01 AM - re-economics-oil-and-ron-paul-bienvenido-macario-philippinesus

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re: Economics: Oil and Ron Paul (Bienvenido Macario, Philippines/US) (John Eipper, USA, 08/16/09 8:01 am)

Bienvenido Macario responds to Istvan Simon's post of 17 August: The opportunity to learn and understand that which I do not know or am not quite sure of its processes is one of the more compelling reason I always consider myself very lucky to be a part of WAIS. I read Rep. Ron Paul's speech of  Feb. 15, 2006 and it got me looking for a reply or replies from the other side of the arguments.   Since I don't think we could expect an official comment or reply from the Federal Reserve Bank, Alan Greenspan's book:  The Age of Turbulence,  published by the Penguin Group in 2007 could be a good place to look, for the Greenspan's / Fed's take on the issue.   (I just resumed reading the book.) I am curious why Rep. Paul did not  include the IMF, World Bank and the UN in his call to audit the Fed, especially in the light of the oil-for-food scandal in Iraq  involving UN Sec. Gen. Kofi Annan's son.   And the unpaid loans to developing countries.   When economic recovery is firmly in place, will the IMF and World Bank resume loaning out money to developing countries, knowing that most of them have not  paid back a decent return on the loan?   Will environmentalists allow the financing of construction and developments in Third World countries that do not comply with best management practices as mandated by the US and State EPA's on US firms?  Not to be in with  compliance with EPA and other US regulatory bodies in development is detrimental to the global environment.     So it appears this recession, in a way, is a blessing in disguise.   Developed nations are given the time to educate the rest of the world on the environmentally friendly way to develop or re-develop their corner of the world, mindful of climate change. It seems the emerging or evolving global economic order is more complex than originally thought.     Here the crisis in education is two-fold. Regarding a new system using other than the US dollar as reserve currency, I am wondering who'd act as the central  bank of those basket currencies, substitute for the US dollar?   The IMF and World Bank should have acted as the Global  Central Bank, SEC and FDIC.   But I don't think they have the authority. Up to now there is no tally of how many white collar criminals have been convicted, fined and incarcerated abroad including G-7 nations.   In my opinion, the US is still unique in its anti-trust, tax, copyright, patent and civil and criminal codes as applied in international business. "(Right now) We're playing innocents abroad in a trade world (stage) that is  definitely  not innocent."                - Lee A. Iacocca, Chairman of the Board and CEO of Chrysler Corporation circa 1980's -- For information about the World Association of International Studies (WAIS), and its online publication, the World Affairs Report, read its homepage by simply double-clicking on: http://wais.stanford.edu/ John Eipper, Editor-in-Chief, Adrian College, MI 49221 USA


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