tag:blogger.com,1999:blog-1194375569044391746.post153042933448183595..comments2024-03-28T05:30:09.322-04:00Comments on Corporate Justice Blog: A $100 Trillion Question: Why not Bank Currency Reserves?Steven Ramirezhttp://www.blogger.com/profile/16741346526253732489noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1194375569044391746.post-33197787467217104132011-04-21T15:36:09.283-04:002011-04-21T15:36:09.283-04:00This is a really interesting idea, but it does see...This is a really interesting idea, but it does seem like some pretty significant forces are arrayed against any change of the status quo. Not only are nations still, as you point out, interested in hoarding cash reserves, regardless of the effects such policies may have had on the global financial crisis, but organizations like the WTO have rarely seemed interested in promoting economic human rights, focusing instead on (sometimes excessive) liberalization of financial markets, etc. Hopefully this paper is a good step towards getting the conversation started by pointing out some of the traditionally underappreciated avenues towards a healthier and less erratic global economy.<br /><br />- Matt W. / UCAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-54317724556542811512011-04-18T14:00:17.515-04:002011-04-18T14:00:17.515-04:00BTW, John Maynard Keynes originally proposed banki...BTW, John Maynard Keynes originally proposed banking reserves through a global reserve currency called "Bancors." Others have revived similar conceptions since the crisis of 2001-2009.<br /><br />http://en.wikipedia.org/wiki/BancorSteven Ramirezhttps://www.blogger.com/profile/16741346526253732489noreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-12439451034187410632011-04-18T13:44:34.885-04:002011-04-18T13:44:34.885-04:00The law review article does not address this point...The law review article does not address this point. But my current thinking would be to publish criteria for qualification for low cost loans and then to provide capital on a competitive basis. The World Bank already is charged with fostering development in a similar fashion. They could implement a competitive regime that would focus on projects and development strategies with the highest payouts. Nations that failed to qualify (by, for example, not permitting audits and imposing safe guards to assure funds are applied as promised) would face the wrath of their people and the loss of legitimacy if they were publicly cut-off from development funds.Steven Ramirezhttps://www.blogger.com/profile/16741346526253732489noreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-77313280650073761132011-04-17T21:34:45.693-04:002011-04-17T21:34:45.693-04:00Although not pretending to be an expert on global ...Although not pretending to be an expert on global finance, I think we should try any soundly reasoned policy that will reduce the gap between the "have" nations and the "have nots." By soundly reasoned I mean widely discussed among those with the expertise to understand exactly how currency reserves operate, as well as how effectively various types of developing nations would be able to use capital if they had access to it.<br /><br />How could this system be made relatively immune to the corruption factor, which I understand to limit the empowerment of individuals in many nations?Monica Thompsonhttp://www.useful-community-development.org/sustainable-development.htmlnoreply@blogger.com