Tuesday, October 28, 2008

Novus Ordo Seculorum?

Gordon Brown is leading the move in Europe to ask Middle Eastern and East Asian Nations for historic loans. The European Union is doing the math, and with the economies of Hungary and the Ukraine facing total collapse, there is fear that the IMF may itself need replenishment from the untapped reserves of the world's biggest savers, chief among them, China.

Of course, this would mean much more than simply a historic loan. Before Japan, China, or any other country agrees to contribute to the International Monetary Fund, there will be a harrowing reorganization of the institution. Domination of the high offices, so long in American and European hands, will be over.

Out with the bathwater will also go the econo-moral instruction offered -- gratis -- by American and European officials, who will forever be humbler when dealing with their counterparts from more-solvent regions of the world.

(Thanks to Speak Truth 2 Power for the image)