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Dr. Mohamad Atyeh's picture
5 years 11 months ago
Dr. Mohamad Atyeh - All global economies are indeed fragile; we are and will always suffer Bretton Wood's catastrophic decisions where there was an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to the U.S. dollar and the ability of the IMF to bridge temporary imbalances of payments and where the the US unilaterally terminated convertibility of the US dollar to gold. This brought the Bretton Woods system to an end and saw the dollar become fiat currency. The whole interest based system is corrupt and the recent LIBOR manipulations is a clear example. I do not trust such a system where few players are getting us into crises and making our lives miserable when trying to get out of crises. Interest should always be zero (or no interest) and let us suffer a bit till the whole financial system gets fixed - we are already suffering! Let there be justice. Lets not forget that it is the "big guys" who were the top gainers in lull times and its them again who are not paying off their debt obligations! Let them play with their own money!