Something Feral

Digging up the flower-beds.

Wednesday, September 9, 2009

Speaking of instituitions...

If at first you don't succeed, use a bigger mallet:
In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.

The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment.
Of course! Brilliant! What could possibly go wrong this time?

Wait for it...
Although many economists have pointed out that the economic crisis owed more to the malfunctioning of the post-Bretton Woods system, until now no major institution, including the G20, has come up with an alternative.
No alternative that favors State-control of the currency, that is. Of course, no government (or aspiring government, or ramshackle clubhouse staffed by tin-pot soapbox dictators) worth its swirling cesspool of crawling parasites would advocate such a restriction on the most subtle form of taxation, would it?


MikeT said...

This time we'll get to see the entire world go down like dominoes.

Doom said...

Ah, the beginnings of one world currency and governance. So refreshingly new, brought to you by... The Romans, the Greeks, the Huns, the Mongols... Oh, wait, these are not them!

Besides, what do we know? We are mere peasants, right?

Something Feral said...

Well, I've got the short pants, but I was hoping to avoid the "on fire" aspect of Traditional Peasantry.

It's not really necessary to point out that the Emperor has no clothes when simple questions will earn one raised eyebrows and puzzled glances in public. (Although, if a currency can be sound without being backed with a commodity, why does the IMF hoard the stuff?)

Cue pitchforks, torches and rotten tomatoes.

Triton said...

You know, there was a two-hour show about 2012 on the History Channel the other day. I'm keeping my fingers crossed that it actually happens; I don't know if I could handle three-and-a-half more years of this world.

Something Feral said...

We should start a pool. Personally, I'm hoping for zombie hordes and dinosaur clones gone awry.

Doom said...

I go with nukes until they or the capacity to send them is gone, then a three pronged approach: cockroaches... "Big as your 'ead they are!"; an ice age; and of course each other with stones and sometimes sticks, since words do so little. :p

Professor Hale said...

What do you want to bet that with zombie hoards and dinosaurs, the government solution will include gun control? "don't want the streets to turn into the wild west". "no shooting dinos in the city limits". Zombies have rights. you have to take them before the judge, and the death penalty is cruel and unusual.

Do not underestimate the stupidity of the ruling class.