Adonis Diaries

Archive for March 30th, 2010

Darling, your insufferable love; (Mar. 25, 2010)

 

Blue sea eyes; (Mar. 25, 2010)

 

Cuddling in my arms; (Mar. 25, 2010)

 

Hiroshima is my City like; (Mar. 26, 2010)

 

Medina, the first Islam City-State; (Mar. 26, 2010)

 

First Islam civil war: Battle of ”The Camel”

 

The International Monetary Fund (IMF) failed in its mission; (Mar. 27, 2010)

 

Not a grain of faith in me darling; (Mar. 28, 2010)

 

In “Rainbow over the Levant (Near East)” novel: Dialogue

 

Militias covering all States in the USA; (Mar. 28, 2010)

The International Monetary Fund (IMF) failed in its mission; (Mar. 27, 2010)

After 30 years of successive wrong decisions, decisions based on ideology and not on economics, that

1. weakened the developing States and reduced them to further poverty and famine;

2. decisions that destabilized world economy and lead to the global financial crash…

This International Monetary Fund (IMF) is still refusing to evaluate its ideological economic policies and account for modern economics theories that have

1. demonstrated the total inadequacy of market mechanisms and

2.  financial forces working independently of State interventions and benefiting the upper classes

3.  failing to come to the rescue of the poorer classes and reducing chronic employment.

The IMF has failed in its objectives.

Its mission was supposed to tackle two global economic problems: first, engaging world economic stability and second, aiding developing countries to healthier transition into economic globalization.

The IMF thought that it was doing the right thing for over 30 years:  It stuck staunchly to an archaic economic theory of market forces taking care of fluctuations and inefficient decisions.

The IMF went further to feeling comfortable in the position that poverty and joblessness are not within its mission: they were the World Bank (WB) mission of carrying these functions toward the less fortunate classes!

In fact, the IMF adopted this slogan: “What is good for the financial community in diagnosing healthy world economy is necessarily an excellent stability factor for globalization.”

This incomprehensible laziness of the IMF economists to studying, evaluating, and analyzing economic structural singularities of developing countries, led to strengthening the notion that world market forces is the best solution for hazardous economic investments.

John Keynes theorized that when market mechanisms are not challenged by States and that market forces work unperturbed, it is inevitable that chronic collective joblessness follow.  Keynes stated that, even singular developed nation economic decisions, affect global economic stability: what one State import in product and services many other States are exporting them.

Keynes reflected that in financial crashes many needy economies will be unable to borrow liquidity to stimulating their solvable economies to either finance spending deficits or compensating for tax income reduction.

Indeed, many solvable States went down for lack of international lending policies.

Thus, Keynes was the economics guru who demanded the establishment of an international monetary fund with mission to extending liquidity to maintain a certain level of full employment that will sustain global economic stability.

The IMF policy makers functioned contrary to Keynes’ economic theory and mission, and the IMF relied on the archaic market dynamics and refused to have any faith on the interventions of States institutions.   This ideology is a blatant irony since the IMF is supposed to be a public institution, but it is acting and behaving as if transparency in decision, management, and administration, is none of its concern or demanded to be submitted to restrictions.

For three decades, the IMF has been pressuring developing states to adopting stringent restrictive economic policies that never suited world economic stability. The successive failures never incited the IMF into revising its economic ideology and make sense of all those incoherent concepts that led to humongous errors and deeper poverty.

For example, during the last three decades, world finance considered exchange rates as one of other commodities, such as product and services.  Thus, exchange rates were to be flexible to accommodate market forces. That was a great wise idea; what the IMF did?

The IMF considered that exchange rate is one commodity that should be maintained at any cost by pumping billions of dollars in pure expenses for no benefit to real economy. Contrary to its market ideology, the IMF excluded exchange rate from market mechanism tool to stabilizing a failing economy.

Usually, it is excessive pessimism after a euphoric phase that drives speculative capitals to be withdrawn in economically solvable States.  Speculative investment is the disease to be treated and an overvalued exchange rate is just one of the symptoms.

The ideology of the IMF did its best to greatly facilitating speculative influx of capitals, and when difficulties arise, to pumping more liquidity in order to maintain the previous exchange rate to the benefit of the multinational financial speculators.

Consequently, the disease is aggravated by this unilateral vision of who should be the prime beneficiary; it has never been the developing States.

For three decades, the developing States have been paying interest on IMF loans simply to enrich multinational speculators by maintaining high exchange rates.  Otherwise, speculators would have desisted if developing States were not pressured to maintaining their exchange rates.

When a private company fails to pay interests on wrong investment decisions, it just declares bankruptcy.  The IMF refuses the developing States to declaring bankruptcy because the multinational financial speculators have to benefit from their faulty loaning decisions.

For example, Russia slapped the IMF in 1998 and defaulted on its external debts; two years later, the multinationals were back investing in Russia.  Thus, liquidity pumped by the IMF at high interest rates into bankrupt States ends up in the pocket of the speculators at the detriment of stringent social conditions of the needy classes.

The gain amassed by speculators, as a group, basically amount to a State financial and economic loss as a government and society at large.  The IMF has in fact been encouraging financial speculators for over 30 years!

Consequently, the other incoherence in the IMF mission is the lack of viable diagnostic tools.  The economists hired by the IMF get worried with balance of payment deficits but barely care how the money was used and where it ended.

The IMF has been extending funds to developing countries in order to salvage companies of the developed States, which made very bad investment decisions.  Multinationals had not to worry about examining closely their faulty policies or had any incentives to reform since the IMF is established principally to come to their rescue.

When States enjoy surplus export balances it is at the expense of excess import balances in other States.  If imports are of the luxury-kind items then desisting extending financial loans on luxury items should take care of the imbalance.

The IMF ideology states: “Once a State reaches a pessimistic speculative mood, the neighboring States will inevitably suffer by disease contamination.”  The coherent economic theory of Keynes reflected as follow: “A State will reduce imports which will hurt neighboring economies.

How did the IMF interpret that relationship? 

The IMF responds by forcing neighboring States to drastic austerity policies in order to avoid “contagion!”  Thus, an entire region such as South East Asia, had to crumble after Thailand. Oil demands and other basic products were cut down which generated reduction in brute oil demands and prices; the waves of panic spread thousands of miles away.  Russia was affected by reduced oil prices and not by any mysterious links related to investors’ confidence.

So far, after the latest financial crash, the IMF was forced to re-examine its economic ideology and to reform its governance.  The IMF is encouraging developing States to control and manage the flux of speculative investments and discourage any investment that does not benefit real economy.

What is needed is that the IMF funds institutions, particularly in developing countries, can identify, control, and manage external investments and offer developing countries the availability of instant information and intelligence on economic and financial activities to be able to compete with the elite multinationals.

Militias covering all States in the USA; (Mar. 28, 2010)

            Almost every States in the USA has a variety of “Patriotic” organizations and most have instituted militias.  The “Intelligence Report” accounted for 932 groups that are growing fast; an increase of 60% since the year 2000. You have currently four major groups and not counting many in embryonic stages and old groups rebirthing such as the “Aryan Nations” of Idaho.  There are informal alliances with these groups such as “Friends for Liberty”, “Freedom Works”, Defenders of Liberty”, and the “Ohio Freedom Alliance”.  Most local leaders are practically new comers to political actions: most are educated and have been hardly hit by the financial crisis.  Soldiers returning from Iraq and Afghanistan are prized for their training skills of the militias.

            Alex Jones Show is diffused on 60 radio channels and attended by over 2 million listeners. For example, Alex Jones predicted in July 2000 that the Federal government is orchestrating a big terrorist act on US soil and claiming Ussama Ben Ladden to be the perpetrator; then 9/11 came to confirm his claim.

            The “Birchers” adhere to the John Birch Society founded in 1958 to counter the spread of communism; they claim to defend radical individual “liberty”.

            The “Birthers”, xenophobic groups that harass immigrants have grown to 310 groups from 173 in 2008. They proclaim that since Barack Obama was not born on US soil then he is not entitled to run for the Presidency.

            The “Oath Keepers” are militias formed in 2009 and include police and military officers and soldiers as well as veterans officers.  They claim to engage resisting government intrusive powers that are not covered by the Constitution (they evidently didn’t recognize the vast intrusions during the George W Bush two terms in office).  Their coat-of-arms states: “Guardians of the republic. Not under our watch.”  Supposedly, their swear allegiance not to obey ten orders of the Federal government such as: No search without warrant, never to detain a US citizen as an enemy combatants, no to martial laws, no to blockading any US city, no to detaining US citizens in concentration camps, and no to cooperating with foreign troops on US soil even if invited by the US government.

            The “Tea Party” groups such as “Tea Party Patriots” and “Tea Party Nation” were born in February 2009. Their slogan is “Tax Enough Already, TEA”

            The Political Research Associates published in 2009 a report on US resurgence of the theory of conspiracy from the 9/11 disaster to the latest financial crash.  This institute is supposed to be studying since 1981 the paramilitary and white supremacist groups.  The report is titled “A poison for democracy. Conspiracy theorists are in search of scapegoats.”  The conspiracy believers claim that the Maxwell Air Force Base in Alabama is being readied to detain millions of “law abiding citizens” by the federal government.  For proof, they point out the traffic panels around the base re-directing the trucks of the “Federal Emergency Management Agency, FEMA”.  They claim that the razor sharp tips of barb wires point to the inside to prevent escape and that train facilities are constructed to facilitate arrival of detainees. They claim that 800 other detention centers cover the US landscape to accommodate imminent martial law edict.

            These claims are not new.  In 1982, the group “Posse Comitatus’” was warning that “authentic patriots” would be detained and managed by FEMA.  Among the concentration camps is the vast mental institute in Alaska and also the Fort Chaffee in Arkansas, currently a training military center.  They claim that Fort Chaffee is being fitted out with airport strips and could hold 40,000 detainees.

            On April 19, the association against gun control is organizing the “Second Amendment March” on Washington DC.  The date coincides with the anniversary of the Lexington first shots against the British in 1775, with the end of siege of Waco in 1993, and with the Oklahoma City bombing in 1995.  The organizers are encouraging the marchers to carry their guns in States where it is not prohibited.  One of their slogans is “Would anti self-defense folks volunteer to protect me 24/7? No?  Then hands off my safety.”

            Kamikaze activities are on the rise. On February 18, Joseph Stack crashed his plane on the Austin IRS building. He wrote: “When the rich don’t give a fuck it is the poor who is to die in order to pay for the rich errors.”  On March 4, another Kamikaze attack on one of the security posts of the Pentagon.  Yes, the US people are angry and frustrated after the financial crash and these kamikaze attacks are precursors of vaster terrorist activities.  The conspirator theory is growing in credibility within the framework of “The New World Order” meant to controlling mankind. The believers of the conspiracy point out the culprits such as the “Federal Reserve”, the “Group Bilderberg”, the “Trilateral Commission”, the “Foreign relation Council” and many other federally sponsored institutions.

            People are venting their frustration big time instead of targeting the main enemies of the people: financial and military hardware multinationals. They should admit that their credit binge in the last three decades was paid for by the developing States; the poorer people paid high interest rates to loans extended by the IMF and financial multinationals for speculation activities.  The IMF pressured the developing countries to maintain their currency rate of exchange in order for the multinationals to make profit on speculative investment.

Many right wing politicians are riding these extremist waves: they will soon discover that they are the first targeted for assassination by their own militias as the Federal government starts its methodical crackdown.


adonis49

adonis49

adonis49

March 2010
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