Dear Sirs:I am writing regarding Article 4, Section 2b of the International Monetary Fund (IMF)’s Articles of Agreement. As you may be aware, this language prohibits countries who are members of the IMF from linking their currency to gold. Thus, the IMF is forbidding countries suffering from an erratic monetary policy from adopting the most effective means of stabilizing their currency. This policy could delay a country’s recovery from an economic crisis and retard economic growth, thus furthering economic and political instability.I would greatly appreciate an explanation from both the Treasury and the Federal Reserve of the reasons the United States has continued to acquiesce in this misguided policy. Please contact Mr. Norman Singleton, my legislative director, if you require any further information regarding this request. Thank you for your cooperation in this matter.Ron Paul
U.S. House of Representatives
Feb 21, 2011
by Washington's Blog
Global Research, February 21, 2011
Washington's Blog - 2011-02-20
What determines which Middle Eastern or North African (MENA) countries will face revolt?
On February 3rd, the Economist came up with a list of "vulnerable" countries based upon the amount of democracy, corruption and press freedom:
But the Economist index doesn't take unemployment into account.
As Alternet notes:
Global risk specialist Mi2g notes:
On February 2nd, Nomura published a report written by Steven Cook of the Council on Foreign Relations, arguing that youth unemployment and underemployment - along with a large proportion of youth - are primary factors driving revolt in the Middle East:
In other words, when there alot of young, unemployed (or under-employed) people, they might revolt.
Here are statistics from Nomura showing the percentage of youth under 15 years old and median age in years in the Middle East and Northern Africa:
As should be noted, there are countries outside of MENA with extremely high percentages of spending on food.
Washington's Blog is a frequent contributor to Global Research. Global Research Articles by Washington's Blog
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