WORLD ECONOMIC CRISIS

The world has to go back to the fixed currency exchange regime and end the speculation
on the currency just like Malaysias Mahathir has done. The economic hitmen who have pressured countries to follow the dictates of creditors such as the supposedly bankrupt IMF to keep on paying their debt on their inflated currencies has in effect impoverized many nations.

Countries must unite on this urgently to obviate the world economic crisis.
The US supposedly is the worlds biggest debtor, the US dollar has lost tremendous value, since President Nixon adopted the floating exchange in 1971. Marcos did the same before martial rule was imposed in 1972. The original Bretton Woods agreement has the fixed currency regime. The US is spending and losing out due to the Iraq war.

The Philippines for example is following the wrong policy of imposing higher taxes on its people just to pay off and balance its budget, when it can tell the creditors that instead of paying sixty percent of our 900 billion budget to service our debt, we pay less like Argentina who got a sixty -seven percent discount on its debt when its President
told its creditors it could not pay, so the Argentinians can live. Now the Argentian economy just grew by eight percent last year.

Our leaders must tell us the truth, and show political will towards the creditors
who have made money already on our inflated debt. Evertime our currency loses value, our foreign exchange debt increases.

Listen to Mike Billington, a world economic analyst from the United States
give us options on monday May 16, 2005 on 104.3 fm between 6 to 8 in the morning.,
and attend his presscon at 9 am Rembrandt hotel, T Morato Quezon City
www.wlym.com, www.larouchepac.com,www.schillerinstitute.org

attysison2020@yahoo.com