lost&outofcontrol

You cannot stop currency speculation without altering the worlds financial system but you can place a very small tax(%0.1) called the tobin tax to reduce its impact on countries without the means to defend its currency from massive speculation. We aren't talking about a few small time investors here. When one big investor like George Soros decides it's time to sell off his assets everybody follows turning a relatively small currency sell off into a massive one resulting in something like this.(I don't agree with everything said in this article) The current system relies on a fragile balance easily broken if one major investor decides to leave or if a country like to US changes interest rates, the impacts of this can be felt around to world like what happened in the Asian Crisis on the 90's. These smaller countries are being forced into opening up their financial institutions by the IMF and world Bank but aren't ready to defend their currency against speculation. No I'm not. We have to place limits on speculation. Every day, over a trillion dollars floats around from one currency to the next. My speel on why currency speculation can be a very bad thing

The subject of Mexico's economic crisis isn't all that relevant to this thread and I didn't want to crap on this thread(More than I already have). But isn't most investments based on this concept? If alot of people purchase stocks/bonds/a currency, then the price goes up, if alot sell then the price goes down.(simplification I know) I have always wondered why the word "hedge" is acceptable but the word "speculation" is pejorative. Let's just call them all hedge fund investment traders and then the problem won't exist.And to think, our taxes are used to pay the author's salary since he's attached to the North-South Institute. I agree with you but the impact of currency "hedging" is much greater and direct than hedge fund investments. Currency speculation has the possibility to bring a country's economy down leaving its citizens with the bill.

You're kidding right? It's the largest investment sector in the world. Over a trillion dollar moves around each day! link Country's economies are destroyed by currency speculation. Look at the Asian crisis, Mexico, Argentina etc... We aren't talking about small time investors here. During the late 80's to early 90's, the Mexican currency was appreciating vis-a-vis the US dollar higher at a higher rate than US interest rates. Investors were borrowing cash to purchase Mexican Pesos for a guaranteed return. In late 1993-early 1994 the federal reserve started increasing rates forcing investors to liquidate their Mexican investment into greenbacks. So while foreign investors bailedl out making a tidy profit, the people of Mexico are stuck with paying for the greed of these investors. My last post on the OT subject, I promise.

Investors were borrowing money at low interest rates to invest in the Mexican currency to basically make "free money". At the beginning of 1994, interest rates started going back up forcing investors to sell off their investments(Mexican currency) and convert them into US currency depleting Mexican reserves until the Mexican banks could no longer honor loans and investments. If you want to erradicate world poverty and hunger, put a %0.1 tax on currency specualtion.

I know, that's why I said in my first post: Are you defending media propaganda by saying it happens on both sides so it's ok?

I just don't want people to give socialism a bad name by associating it with Liberal candidates

Definition of State terrorism link state terrorism(ish) Why do we trade with countries like China, Israel, India, Pakistan, and the Philippines (etc..) when we reject funding/trading /recognizing the Palestinians on the basis that it's a "terrorist population". All these Countries are/have engaged in state terrorism against a part of their population just like Israel is doing. The reason is quite simple really, because we have nothing to gain (economically) from supporting the Palestinian but a whole lot to gain from China & Co. Not exactly, I'm pissed off because we are hypocrites.

A great explanation of the media's twisting logic syndrome.

Wake up, we've been supporting & funding terrorists ourselves. Its okay for us to pick and choose which one we support?

Nice personal attack buddy, I guess the same could be said about you then?

There are no socialist candidates in the running, all capitalists. From Wikipedia: One day, people might learn the difference...one day.

Did anyone catch the Scott McClellan B*lls*t bit on the Daily Show yesterday?

What's your solution to problem. Just asking.

You said I didn't detect any hint of sarcasm in this but I guess my sarcastometer is a bit off today. Sorry So the I guess this poll and this poll and this one and this one (thanx Black Dog) are all wrong. Sorry that was wrong on my part. Yes, lets all quote 30 year old articles. Wasn't Zahir Muhsein a Syrian puppet?**edit* damn Black Dog beat me to it.

I agree, I find Al Jazeera to be very balanced. I wish people who badmouth them would actually visit the website.

And on the same day; Kickbacks for Iraq contracts unveiled. I had to post a link from Al-Jazeera since apparently this story isn't important enough to post on cnn, nbc, fox etc.. **edit** I had had to dig but I found an article on cbs as well.

You claim to be a writer for the Globe and Mail, that is frightening. Thank Buddha we have reporters like you who research their claims before spouting crap like that. And I quote: I posted this link in the Who will Do Iran? thread but you conveniently ignored it. Both sides are guilty of terrorism. The majority of the population supports peace. Just like in Christianity you have extreme wings filled with nutcases, the same applies to Islam. A minority on both sides controls the game for its own political advantage. I guess they have "spell checkers" on staff at the Globe and Mail. Stop trying to frame the entire region as a bunch of crazed lunatics that want the destruction of Israel. Glad to see the media is still independent.

State sponsored terrorism on the part of Israel. They are both guilty.

Half the price of a galon of gas is profit.

Who profits the most when gas prices rise. For the lazy ones, here are the relevant quotes: As we can see, the refiners are the big winners in this. Three fold increase in profits compared to a 46% increase in profits for the oil producers. A 50% markup ain't bad. On a personal note, I really don't care what the price of gas is since it doesn't affect me enough to care. I go to the gas station once every 5-6 weeks. Hurray for public transportation.

FTCR: Internal Memos Show Oil Companies Intentionally Limited Refining Capacity to Drive Up Gasoline Prices

The Palestinians seek emancipation, but what emancipation do they seek? No one in Israel (or anywhere in the world for that matter) is emancipated. Israelis are not free. They must emancipate themselves from their religious slavery before the Palestinians can do the same. All religious privileges must be abolished. The Palestinian finds himself in religious opposition to the state which recognizes Judaism as its foundation but by asking for emancipation, they invariably acknowledge this slavery or subordination of citizenry to religion. Religious opposition can be done away by making it impossible through the abolition of religion.

If you artificially limit the supply of oil (shift the supply curve to the left) which is a price inelastic good (meaning people are willing to buy it at just about any price, in the short-run anyway) you can increase to price of said good. **edit** Yay, my intro to microeconomics class has paid off!

As soon as Jew and Muslim recognize their opposed religions as merely different stages in the development of the human spirit, then they will no longer be in religious opposition but only in critical, scientific, human opposition.

I agree with you that the end goals of both parties are mostly the same but they have different means of getting there. It's my opinion that socialism which isn't associated with a revolution cannot succeed in the end. (I won't get into why I believe this as to not change the subject of this thread anymore than it already has ) There is a massive difference between the NDP and the communist parties. The NDP advocates moving slowly towards the left (redistribution of wealth & resources) by working within the framework currently establish. The communist party advocates moving towards the left by means of revolution. Now whether this "revolution" is through a Leninist way which is lead by a small group of professional revolutionary (think the soviet union until Lenin's death) or through a Marxist revolution whereby we have a democratic (I bolded democratic since a Marxist revolution cannot happen without the majority of the population) non-violent takeover by the proletariat, that is all up to it's members. That thread you posted was just terrible, it was started by someone who did not understand the differences between Communism and socialism. You cannot build a house on a foundation of mud.