The Word of mAn[S]o0r

... to be political on my blog, nevertheless sometimes i come across stuff which is truly gold! This post happens to be posted by Anwar Hussain at Fountainhead titled "The United States is Terrified". Now that's not the reason why i like it (though it does rank up there!), its the following passage i'll quote by Noam Chomsky, a MIT linguist, while speaking at the United Nations recently. It reads..

* As for the economic option [of controlling other nations], that's being lost, too. The most dramatic case, perhaps, was Argentina. Argentina was the poster child for the IMF. And following IMF rules, it led to the worst economic disaster in its history, totally collapsed. Then, violating IMF rules radically, they pulled out of it and have had rapid growth. And the international investing community and the IMF, which is a branch of the Treasury Department, couldn't do anything about it, even the refusal to pay debt. And Argentina -- in fact, the president of Argentina said, ‘Well, we're ridding ourselves of the IMF.’ That means of U.S. economic strangulation. And worse, he was helped in that by Venezuela, which bought a large part of the debt. Bolivia is probably doing the same. Brazil had already done it. Well, you know, you rid yourself of the IMF, meaning the Treasury Department, that's seriously weakening the measures of economic strangulation.

As the future leaders of this country, maybe we should take heed from what's going in the world. Taking IMF loans just to survive is very good and all, but that's like inviting the wolf into your house.

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And so said mAn[S]o0r on Thursday, June 08, 2006 at 7:29 PM | Permalink | |