Gefira #40: Money is the oxygen with which the global economy breathes.

Description

Money is the be-all and end-all of any country’s economy. There are renowned professors of economics who maintain that anybody who says he understands money is a liar. There is something to it. History is fraught with economic and financial theories and although they operate on numbers and mathematical formulas, political parties that are at loggerheads with one another employ experts who sometimes cannot agree on the most basic issues, who advance solutions that are very much discrepant. Those who lived in Eastern Europe and are old enough to remember will have recalled that in the universities in socialist countries two incompatible types of economy were taught: capitalist and socialist. One wonders whether economy – despite its numbers and formulas – is something more of an ideological persuasion rather than a science.

Gefira-Bulletin #40 delves into the problem of the global financial system and its effect on countries and nations. Our analysts present the bare financial mechanism and its origin. In a world where economic and political interests of the many players are often on a collision course, in a world rife with political-cum-finacial institutions, accords, compacts, agreements and banks, it is not an easy task to see through this deliberately(?) designed thicket pecuniary problems and get to the core of the matter. We do not pretend to have found the Grail, but we hope to have made the problem more translucent to our readers.