Luiz Inácio Lula da Silva`s Brazil: Financial cross double bind with JP Morgan Chase and partners - James K. Galbraith on
“The Larger International Monetary Problem”
Sovereign Debt Workout Arrangements / By Kunibert Raffer, University of Vienna
Staatliche Schuldenregulierung: Verfahren und mögliche Inhalte
/ Ein Gutachten für das Bundesministerium für Wirtschaftliche Zusammenarbeit und Entwicklung
IMF Updates and Patches: Mrs. Krueger`s software is approaching Microsoft standards
A Contribution to an Online Discussion on Sovereign Debt Restructuring
Short Reply by Kunibert Raffer on request by DAD
Solving Sovereign Debt Overhang
by Internationalising
Chapter 9 Procedure *
Working Paper by Kunibert Raffer
Der IWF vor der schwierigsten Reform - der eigenen
Thomas Fischer im Interview mit Spiegel Online:
Die Globalisierung wird falsch betrieben
The Bretton Woods-GATT System: Retrospect and Prospect After Fifty Years
Margaret Garritsen de Vries: The Bretton Woods Conference and the Birth of the International Monetary Fund
Edward M. Bernstein: The Making and Remaking of the Bretton Woods Institutions
Andre Gunder Frank:
Überdehnung der US-Ökonomie & Militärisch-Politischer Rückstoß?
Im Schatten der Derivate - Buchankündigung
Von Exuberance zu Protuberance
Negativer irrationaler Überschwang und spekulativer Empirismus / von Georg P. Christian
Man muß sich nicht wie ein Guru vorkommen, um die Voraussage zu wagen, daß der 20. Dezember 2000 in die Finanzgeschichte
eingehen wird – als der Tag, an dem »die Märkte« über die Blase, deren Aroma sie so lange gierig geschnüffelt haben und deren Binnendruck ihnen mitunter schon Ohren und Nasen zu
verstopfen schien, von immerwährender Betörung zunächst einmal in den Zustand der Verstörung übergegangen sind.
Die Schwankungsanfälligkeit des IWF-Systems
Ein Bericht von Georg P. Christian
Im Jahr 1988, zur Herbsttagung des Internationalen Währungsfonds und der Weltbank in Berlin, hatten sich die Studien von Zeitfragen letztmals ausführlich mit »Fakten zur
Schuldenkrise«, mit »Kampagne und Gegenkongreß« sowie mit der Enzyklika Johannes Pauls II über die “Strukturen der Sünde” befaßt. (Heft 3/1988). Der Bericht schlägt die Brücke zwischen
den Umwälzungen Ende der 80er Jahre zum derzeitigen Zustand des Weltwirtschaftssystems.
Hedge Funds, Asian Crisis and Japan
In all today, there are some 3,000 registered trading entities called hedge funds, with an estimated equity base of some $200
billions, according to Hedge Fund Research, Inc., a hedge fund analyst. Of these, less than half a dozen regularly engage as conscious strategy, in high-risk, politically-targetted attacks on
vulnerable currencies or markets. While these »global macro« hedge funds, as the latter are often called, often operate out of offices in New York or other US cities, none of them are
»American« in any real sense. The management office may be in New York, but the legal corporation is hidden away, offshore, far away from the prying eyes of US or other tax authorities, in
places such as Netherlands Antilles or Cayman Islands. Further, to avoid any legal scrutiny from US authorities, these global macro funds permit only non-US citizens or non-US institutional
investors to join the equity share of the fund, usually European or other foreign banks. It's all completely unregulated and highly secret.
Japan Inc. in the Debt Trap
With the Yen so dangerously high that it hurts export profits, the
only sector of profit in the ailing economy, Japan is precisely where the Euroland powers want the second largest industrial economy to be for now. At anytime it suits Euroland financial
powers, they can now pull the plug on Japan by forcing the Yen even higher, against the Euro. European exports already are far more competitive against Japanese in the past 15 months in
world markets. Euroland is intent on eliminating Japan as a future competitor. It is dangerously close to its goal, helped enormously by the cultural paralysis of the internal Japanese
crisis since the collapse of Cold War structures. In this context, a qualitative rethinking of American-Japanese relations is of urgent interest.
The World Bank and Japan:
How Godzilla of the Ginza and King Kong of H Street Got Hitched / By Edith Terry
Japan Policy Research Institute Working Paper #70 (August 2000)
Buried in news about the anti-globalization protests, a major theme of the annual spring meeting of the World Bank and IMF in
April 2000 in Washington DC, was the Japanese demand for a larger voice for itself and other Asian nations. As protesters stormed the barricades outside, a senior Japanese official told
the New York Times, »There's a sense that this has always been a white man's club, and that needs some rethinking« (April 17, 2000).
IMF revisits the scene of the crime
Unless East Asia faces up to the fact that the Asia financial crisis, given the policies and business practices of the decade
preceding it, was inevitable and had best be viewed as salutary and an opportunity for in-depth reform, there will be an early recurrence. The IMF's new managing director, sweet-talking
Horst Koehler, does no one a favor by listening to people (and governments) talking self-serving nonsense.
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