Protectionism in Drag
Treasury Secretary Timothy Geithner is right to worry about the European Union’s proposed “alternative investment fund” regulations, which he has branded “protectionism in drag.”
Treasury Secretary Timothy Geithner is right to worry about the European Union’s proposed "alternative investment fund" regulations, which he has branded "protectionism in drag." "The proposal, which European finance ministers will discuss tomorrow in Brussels, would effectively bar hedge funds and private-equity funds from marketing themselves throughout the EU unless those funds are managed inside the bloc. The list of new requirements on location, leverage and disclosure for outside players is supposed to protect EU investors from shady offshore operators. But protestations from Brussels aside, their real purpose is to reduce tax and regulatory competition. Switzerland and the U.S. are no doubt the main targets, but the U.K. would also feel the sting. Since many of Britain's fund managers and custodian banks are themselves based around the world, they would essentially be forced to choose between Europe and everywhere else. Nor would these rules lower the risk of another financial meltdown. Despite what some regulators would have the public believe, hedge funds weren't the source of systemic risk during the panic."
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A disturbing interview given by a KGB defector in 1984 describes America of today and outlines four stages of mass brainwashing used by the KGB.
- Bezmenov described this process as "a great brainwashing" which has four basic stages.
- The first stage is called "demoralization" which takes from 15 to 20 years to achieve.
- According to the former KGB agent, that is the minimum number of years it takes to re-educate one generation of students that is normally exposed to the ideology of its country.
It's up to us humans to re-humanize our world. An economy that prioritizes growth and profits over humanity has led to digital platforms that "strip the topsoil" of human behavior, whole industries, and the planet, giving less and less back. And only we can save us.
- It's an all-hands-on-deck moment in the arc of civilization.
- Everyone has a choice: Do you want to try to earn enough money to insulate yourself from the world you're creating— or do you want to make the world a place you don't have to insulate yourself from?
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