Reflections by comrade Fidel
In Zulia, Chavez
made reference to “comrade Sarkozy”. This remark carried
some irony but he meant no offense. On the contrary, he was rather recognizing
the sincerity of the President when he spoke in
Nobody was saying what every European leader knows but would rather avoid: that the current financial system is useless and must be changed. The Venezuelan President candidly proclaimed:
“It is not possible to re-found the capitalist system; it would be like trying to sail on the Titanic when it’s laying on the ocean floor.”
According to press dispatches, at the meeting of the European and Asian Nations Association attended by 43 countries, Sarkozy made remarkable confessions:
“The situation is not good for the world which is facing an unprecedented financial crisis marked by its magnitude, swiftness and violence, a crisis whose consequences on the environment call into question the survival of mankind, as 900 million people lack the means to feed themselves.”
countries taking part in this meeting account for two thirds of the global
population and half its wealth. The financial crisis started in the
“An eleven-year-old boy’s place is not in a factory but in a school.”
region in the world has a lesson to teach others.” This is a clear reference to
he recalled before the Asian nations the colonial past of
If Granma had written such words, they would have been considered a cliché of the official communist press.
Chancellor Angela Merkel said in
43 countries from
President of the Spanish government, Rodriguez Zapatero,
stated that “there is a crisis of responsibility which has enabled a few to
grow richer while the majority is increasingly poor.” He also said that “the
markets have lost confidence in the market,” and he urged the countries to fend
off protectionism as he is convinced that competition will force the financial
markets to play their role. He has not been officially invited to the
The European Community President, Jose Manuel Durao Barroso, upheld his warning on protectionism.
The UN Secretary General, Ban Ki-Moon, had his own meeting with outstanding economists trying to prevent that the developing countries become the main victims of the crisis.
The former Foreign Minister of the Sandinista Revolution and current President of the UN General Assembly, Miguel D’Escoto, asked that the issue of the financial crisis be not discussed among the wealthiest nations and a group of emerging countries that make up the G-20 but rather at the United Nations.
There are discrepancies about the venue and the meeting where a new financial system should be adopted that would put an end to chaos and to the absolute lack of security for the peoples. There is much fear that the wealthiest countries in the world, meeting with a small group of emerging nations enduring the financial crisis, might end up adopting a new Bretton Woods in disregard of the rest of the world. President Bush said yesterday that “the countries that will discuss here next month the global crisis should also renew their commitment to the basics of economic growth on a long term basis: free markets, free enterprise and free trade.”
The banks were lending tens of dollars for every dollar deposited by the savers. They multiplied the money. They breathed and perspired loans through every pore. Any contraction led to ruin or to absorption by other banks. They had to be saved; always at the expense of the taxpayers. They were amassing great fortunes. Their privileged majority shareholders could afford to pay any money for anything.
Shi Jianxun, a professor at the
used few words to explain the essential role of currencies in the international
economic relations. This had been happening for centuries between
authorities of that country would not even receive the metal silver initially
used by the Spaniards from their colony in the Filipinas to pay for the
products purchased in
to the Chinese economist, the existing difficulties with the terms of trade
between these two continents should be resolved with Euros, pound Sterling,
yens and yuans. Undoubtedly, a reasonable regulation
between these four currencies would help in the development of fair trade relations
countries which produce sophisticated equipment with state-of- the-art
technology, both for production and services, such as Japan and Germany would
be included in that area, as well as the potentially largest engine pushing the
world economy, China, with a close to 1.4 billion population and over $1.5
trillion in its hard currency reserves mostly in US dollars and Treasury bonds.
the present juncture, the value of the dollar is increased by this currency’s
predominant position imposed on the world economy as the
large number of
The price of nickel, our main export item, whose value recently was over 50 thousand dollars, now hardly reaches 8,500 dollars a ton, that is, less than 20% of the top price it had enjoyed. The price of copper has decreased to less than 50%, and the same is true of iron, aluminum, tin, zinc, and every other mineral indispensable for a sustained development. And defying any rational or common sense, the price of consumer goods such as coffee, cocoa, sugar and others has barely grown in over 40 years. This is the reason why not long ago I also warned that as a result of an impending crisis, the markets would be lost and the purchasing power of our products would be considerably reduced. The developed capitalist nations are well aware that under such circumstances their factories and services would be paralyzed, and only the consumption capacity of a large part of mankind already living at the poverty line or under this level, would keep them going.
This is the great dilemma raised by the financial crisis and the danger that social and national selfishness will prevail regardless of the wishes of many politicians and statesmen agonizing over this phenomenon. They have no confidence in the system from which they emerged as public men.
After the people have left illiteracy behind; when they have learned how to read and write and they have an indispensable minimum knowledge allowing them to live and produce honestly, they still need to overcome the worst form of ignorance in our times: economic illiteracy. It’s the only way to know what’s happening in the world.
Fidel Castro Ruz