---------- Forwarded message ----------
From: Noam Chomsky
Date: Thu, 12 Feb 2009 16:23:49 -0500
Subject: Re: The Economy
To: "Saeed Fotohinia (by way of Noam Chomsky
I only partially agree. As for China, it has incredible internal problems,
far beyond anything known in the West: massive poverty, ecological disaster,
etc. It ranks about 80th in the UN human development report, and would
probably be considerably lower if it were open to investigation, as India is
(India ranks 127th).
It's been almost 40 years since the gold standard was abandoned and
currencies began to float, with some manipulation of course; China is hardly
alone.
Noam
----- Original Message -----
From: "Saeed Fotohinia (by way of Noam Chomsky
To: "Noam Chomsky"
Sent: Thursday, February 12, 2009 10:02 AM
Subject: Re: The Economy
> When I was in Beijing last year, I saw the development all around. I
> was with a friend who had visited the city frequently over the
> previous ten years; he told me how a decade ago, Beijing was cluttered
> with wooden shacks. There was no such thing left to see. And it wasn't
> just because of the Olympics the city was gearing up for at the time.
> It was because there was a lot of people knew that the Yuan was
> getting stronger by the second (not only because of their own labour,
> but, in part, due to the aggressive fiscal policy of their government
> towards others nations). The fact is that it has worked wonders for
> China.
>
> And I truly believe that the "correction" the world markets are
> presently experiences (and have been experience since September 2007
> (roughly around the time of the runs on Northern Rock Banks in the
> UK), has been in large part due to this never-before-seen practice of
> basing a currency neither on gold, nor on silver, nor on (as in the
> case of the US, in my estimation) the projection of power, but on a
> _competing_ currency.
>
> The cleverest part is how she's been able to get away with it for so
> long. Perhaps there is a Chinese agent working at the Fed, or even
> CNN, or even Wall Street. And why not, they have got a strong enough
> propaganda machine, and they've already purchased (in cash) American
> oil companies, entire automotive factories (shipped piece by piece
> from Brazil), and even IBM laptops - and let's not forget Maytag (oh
> yes, and of course...Wal Mart!).
>
> This is all done in extra cash.
>
> The success of China lies in its cleverness. We don't need to revisit
> Sun Tzu to know that it is wise to "appear empty when full; full when
> empty."
>
> Yours, still empty, truly,
>
> Saeed
>
> PS but still smiling :)
>
> On 2/11/09, Noam Chomsky
> > I'm skeptical, frankly. But maybe.
> >
> > Noam Chomsky
> >
> > ----- Original Message -----
> > From: "Saeed Fotohinia (by way of Noam Chomsky
> >
> > To: "Noam Chomsky"
> > Sent: Tuesday, February 10, 2009 9:51 AM
> > Subject: The Economy
> >
> >
> >> Dear Prof. Chomsky and Prof. Morton,
> >>
> >> Here is my take on the Economy:
> >>
> >> Currencies fluctuate according to markets. To control the markets China
> >> pegged. The world economic crisis is because of this practice of
> >> pegging.
> >> The solution to the world economic crisis is important because it could
> >> lead to a global conflagration of devastating proportions.
> >>
> >> Possible solutions include: 1. other countries pegging to other
> >> currencies, or 2. disallowing the practice of pegging world-wide
> >> (highly
> >> unlikely).
> >>
> >> Should Canada peg to the US dollar?
> >>
> >> Yours truly,
> >>
> >> Saeed Fotohinia
> >>
> >> PS I am still hunting for a fearless publisher.
> >>
> >>
> >
> >
>
>
Posts
