The network for agriculture in Ontario, Canada
Global Compact Against the Financial Speculation
Remarks by H.E. Dr. Leonel Fernandez
President of the Dominican Republic
at the 2011 Israeli Presidential Conference
22 June 2011
"Our markets no longer have a social value. They are not socially optimal. Our markets have become a casino for capitalism, where the traders exchange papers and numbers. There is no real wealth involved."
attached is the complete speech.
Thoughts?
If food should not be a financial asset to curb speculation should all essential items, such as housing, have speculation controls via international bodies?
Where does one draw the line to determine what should be an essential item versus a financial asset? Who should have that power?
(shades of Roman control 2000 years ago, British control 400 years ago. some things never change!)
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