making the record straight with professor Steve Hanke

Nipawin - Sunday, January 13, 2002 - by: Mario deSantis


We are going to continue with our discourse that the Free Market, that is the economics gospel of making money with money, is a legalized conspiracy of the big corporations and fortunate sons. This legalized conspiracy is being protected by heros as they wage yet another war against the undefined entity called TERRORISM and by patriotic corporate media as they continue to misinform and uneducate the public.




A most recent misinformation and uneducation article is being reported by Izzy Asper's loyal journalists John Greenwood and Nick Didlick, both of the National Post. They report that


"Argentina's woes were not caused by the government's decision to devalue the peso. The real culprit is the succession of crooked and incompetent governments that have managed to win power in the ailing country, according to Steve Hanke, an economics professor at Johns Hopkins University in Baltimore and chairman of Friedberg Mercantile Group Inc. in New York."




Professor Steve Hanke is right in addressing the problems of crooked and incompetent governments, but there is nothing new about it as today governments represent the big corporations and fortunate sons in Argentina, in the United States and all over the world. To prove this point it suffices to mention that the same Bush Family has been specifically involved in fueling crookedness and incompetency in Argentina as they peddled the interest of the now bankrupt Enron Corporation.



Friedberg Mercantile
Group Inc.

Professor Steve Hanke is chairman of Friedberg Mercantile Group Inc. in New York and this group has a sister financial office in Buenos Aires, Argentina. So we can really be sympathetic for professor Steve Hanke's competent efforts to protect the family of the Friedberg Mercantile Group. However, we remind professor Steve Hanke that international financial markets driven by mercantile banks are one of the main sources for economic instability.




Canadian philosopher John Ralston Saul has stated that any serious banker knows that 95% of the some six trillion dollars moving in the international money market every day is just an economic bubble which contributes to the impoverishment of common people and to the enrichment of the fortunate sons.


  Pertinent articles in Ensign
  'Politics, not money, led to Argentina's problems'.Incompetency cited. (STEVE) HANKE: "Greatest bank robbery." John Greenwood and Nick Didlick, January 12, 2002, National Post
  Don't Cry for Bush, Argentina. George W. may not recall the names of world leaders, but when it comes to foreign affairs, he knows the value of his own family's name. By Louis Dubose and Carmen Coiro, March/April 2000 Mother Jones
  Democracy and Glabalization, Lecture content, 1999 John Ralston Saul, 1999 Australian Broadcasting Corporation
  A Cross of Dollars Paul Krugman, SYNOPSIS: It goes without saying that a country needs to be able to use monetary policy to fight recessions, but that's not what's happening in Argentina