The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said.
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pharoah88
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29-Oct-2010 11:48
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Any BANK withOUT nOrmalised Interest Rate wIll nOt recOver. When Interest Rate is NEAR-ZERO, ecOnOmy is sIck and eXtremely FRAGILE, bank is at hIghest rIsk Of DEFAULT. STAY CLEAR OF NEAR-ZERO INTEREST RATE BANKS |
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pharoah88
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27-Oct-2010 13:40
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Wednesday: 27 10 2010 Ch 8 Good Morning Singapore 8:15am CALL 62506851 / 62501210 DR LEONG [梁医生] HAZE is poisonous Vehicle Exhaust discharge is poisonous Second-Hand Cigarette smoke is poisonous Use salt water sprays [喷盐水] into the nose to reduce the damaging effect
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pharoah88
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27-Oct-2010 13:29
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27 10 2010 Tags: MAS
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pharoah88
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22-Oct-2010 14:51
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Friday: 22 OCTOBER 2010 mOrnIng ChannelNewsAsia 8:20am HAZE HAZARDS 108 Consultant DR K C ONG Old and young suffer crItIcally Chronic Respiratory problems pOlUtant partIcles can gO intO lUngs and even the blOOd streams nEEd SPECIAL KIND of MAST [nOt the usual clinical mast] Airconditioner filter cannOt filter OUt the partIcles END Medical Cost Reimbursement and Health Damage Compensation should be sOUght by fOreIgn mInIsters Of affected cOUntrIes ? ? ? ? hUman rIghts UnIOns shOUld dO sOmethIng sInce the fOreIgn mInIstrIes are nOt cOncern wIth cItIzens HEALTH ? ? ? ? WHY HEALTH mInIstrIes are sO cOOperatIve ? ? ? ? CEOs Of companIes settIng the fIres mUst be canned and jaIled ? ? ? ? sUrely by nOw every aUthOrIty rIghtly knOw whO are the cUlprIts ? ? ? ? WHY is there nO actIOn by the aUthOrItIes ? ? ? ? |
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pharoah88
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22-Oct-2010 12:24
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CEOs win Entrepreneur award
SINGAPORE
They are Mr John Tan, Chief Executive of ACR Capital Holdings; Ms Olivia Lum, Group CEO of Hyflux; and Dr Ng Chin Siau, CEO of Q&M Dental Group.
One of the three will be Singapore’s representative at the Ernst & Young World Entrepreneur of the Year awards to be held in Monte Carlo next year. He or she will be announced at the Ernst & Young Awards Gala here on Dec 2.
E&Y said an independent judging panel selected the winners from a pool of over 50 nominations based on their merits in fulfilling six criteria.
These include entrepreneurial spirit, innovation, personal integrity and influence, financial performance, strategic direction and global impact.
Country managing partner at Ernst & Young, Mr Steven Phan, says the three winners are exceptional first-generation entrepreneurs who have created compelling business propositions in very niche areas.
[same CANDIDATES ? ? ? ?
same AWARDEES ? ? ? ?]
This is the first time in the nine-year history of the awards programme that it has received nominations in such diverse fields as dental healthcare and reinsurance, he added.
Mr Phan said the nominations reflected the diversity of entrepreneurial talent in Singapore and the attractiveness of Singapore as a start-up and investment location. |
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pharoah88
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22-Oct-2010 12:07
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Large capital inflows a risk Rachel Kelly SINGAPORE — Too much of foreign capital is too much of a good thing. The World Bank says a risk to economies in East Asia is the return of large capital inflows, which are driving up prices and causing inflationary pressure. Inflation in China — Asia’s largest economy and the world’s second biggest — accelerated to the fastest pace in almost two years in September, according to data out yesterday. September’s inflation rate was 3.6 per cent over a year earlier, compared to August’s 3.5 per cent and well above the 3 per cent official target. Helping drive overall prices higher was a 6.1 per cent jump in food costs due to shortages of vegetables and other items. China — the world’s fastest growing major economy – is sucking foreign capital in billions of dollars at a go. And too much money — together with the domestic stimulus — is fuelling a property bubble which has prompted the Chinese authorities to take steps to prevent overheating. World Bank’s chief economist for East Asia & the Pacific, Mr Vikram Nehru, said: “In China the authorities have used a variety of measures to try and curb credit growth. The bulk of those measures have been through administrative means, specific targets and so forth for banks.” “So this is part of a more concertive action by the Chinese to take some of the froth off the real estate sector and try to stabilise asset prices.” Other countries in East Asia are also grappling with large and rapid inflows of foreign capital and are adopting different strategies to deal with the challenge. Mr Nehru said that some of these countries were “simply allowing their currencies to appreciate and that is one way to try and absorb the inflationary pressures that might be coming through these capital inflows”. He added that some countries had been intervening in foreign exchange markets to try and reduce the volatility of these inflows or were keeping a close eye to see what was happening in the banking systems. |
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pharoah88
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22-Oct-2010 11:49
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G20 finance chiefs aim to avoid currency wars
SEOUL
Finance ministers and central bankers will say after talks conclude in Gyeongju, South Korea, tomorrow that they want a “more market-determined exchange rate system that minimises adverse effects of excess volatility and disorderly movements in exchange rates”, a G20 official said yesterday, citing a draft statement and speaking on condition of anonymity.
G20 policymakers are convening amid concern countries are pursuing weaker exchange rates as a route to stronger economic growth, either by limiting currency gains with interventions like Japan or by discussing possible monetary easing, as the United States and the United Kingdom have done.
The risk is of a protectionist backlash that curbs economic growth, with emerging markets including Brazil and South Korea already introducing capital controls to stay competitive.
Treasury Secretary Timothy Geithner said in a
Mr Geithner delayed a report on foreign exchange markets last week, saying the yuan remained undervalued and that China needed to show continued commitment to allowing the currency to rise against the US dollar over time. The yuan has risen about 2 per cent since a two-year peg against the greenback was scrapped on June 19.
People’s Bank of China Governor Zhou Xiaochuan said his nation needed to avoid the “shock therapy” of excessive yuan appreciation and “very fast” gains probably would not end global economic imbalances.
Chinese Premier Wen Jiabao also warned of the dangers of a rapid rise, saying yuan gains of 20 to 40 per cent would exacerbate unemployment and cause social upheaval.
Mr Marc Chandler, global head of currency strategy at Brown Brothers Harriman and Co in New York, said the US is trying to forge a united front among the G7 nations in urging China and other emerging market nations to let their currencies rise.
“How the dollar does against the euro and sterling might be different than how the dollar does against Asia,” he said. Mr Chandler predicted there would be increasing pressure on China at the G20, without an international agreement on intervention such as the Plaza Accord in 1985.
[Xtremely OUTdated 1985 AccOrd ? ? ? ?]
[COmplacency IncOmpetence NeglIgence ExUberance ? ? ? ?]
Canada wants to “address, with our G20 colleagues, mechanisms to enhance and timelines to enhance the flexibility of currencies”, Bank of Canada Governor Mark Carney said yesterday.
Bank of England Governor Mervyn King said finance chiefs need to reach a “bargain” to coordinate economic policies, though real agreement would require a “revolution”.
The US backs current-account targets to gauge whether individual trade surpluses or deficits are sustainable, and Mr Geithner wants the International Monetary Fund to take on a larger role of economic surveillance. |
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pharoah88
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20-Oct-2010 19:02
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pharoah88
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11-Oct-2010 13:20
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pharoah88
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11-Oct-2010 13:06
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SET UP ONE WORLD FINANCE MINISTRY CLOSE DOWN ALL NATIONAL MINISTRIES OF FINANCE CREATE ONLY ONE WORLD CURRENCY [W$] FOR WORLD CIRCULATION REPLACE ALL NATIONAL CURRENCIES RETURN TO BASIC SIMPLIFY SIMPLIFY SIMPLIFY SIMPLIFY |
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pharoah88
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11-Oct-2010 12:59
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today Monday October 11, 2010 B4
IMF agrees to be ‘currency cop’ after calls from world’s governments WASHINGTON Officials including United States Treasury Secretary Timothy Geithner and Egyptian Finance Minister Youssef Boutros-Ghali said the lender should outline how countries can expand their economies without damaging those of other nations. China is accused of keeping the yuan undervalued to boost exports, while low interest rates in the US and other industrial nations are blamed for propelling capital flows into emerging markets. “The IMF has an important role to play to help ensure that progress towards rebalancing strengthens," Mr Geithner said at the IMF's annual meeting on Saturday in Washington. “It is ultimately the responsibility of countries to act but the IMF must speak out effectively about challenges and marshal support for action." Currency intervention has returned to the fore as countries from China to Brazil and Japan try to restrain their exchange rates to secure a trading edge. That has roiled currency markets as has the prospect of easier monetary policy from the Federal Reserve. The US dollar fell last week to its lowest in 15 years against the yen. IMF Managing Director Dominique Strauss-Kahn accepted the role of currency cop and said the fund would publish reports highlighting linkages between economies as part of a “systemic stability initiative”. The IMF's steering committee also said it should “deepen its work” on capital flows, exchange rate movements and the accumulation of reserves. “The need to have this kind of spillover report has been discussed for months and now it's part of our toolbox,” Mr Strauss-Kahn said. It may already be too late to stop a shift towards protectionism. Ukraine's Deputy Premier, Mr Serhiy Tigipko, said in a Washington interview that his country may become the latest emerging market to consider capital controls to prevent short-term investments from fuelling volatility in its currency, the hryvnia. India may also intervene “to prevent volatility and prevent the disruption of the macroeconomic situation”, Reserve Bank of India Governor Duvvuri Subbarao told reporters in Washington. The IMF studies will focus on the US, China, the UK, Japan and the euro area. They will show, for instance, how US monetary policy affects capital flows to other countries. Canadian Finance Minister Jim Flaherty said there is broad support for Mr Strauss-Kahn's enhanced role and warned the restraining of some currencies risks fanning protectionism. China, the world's fastest growing major economy, has limited gains in the yuan to about 2 per cent against the dollar since June. “There's general agreement that the IMF has an important role to play," Mr Flaherty told reporters. “There have been discussions here with respect to developing rules of the road or guidelines with respect to how countries deal with their currencies.” The IMF has a weak record on pushing governments to change their policies towards trade and exchange rates. A 2006 effort to oversee the rebalancing of the world economy petered out and China has repeatedly rejected the fund's analysis. “For lack of a better alternative, the IMF has to play an active role in trying to mitigate currency competition,” said Mr Eswar Prasad, a senior fellow at the Brookings Institution and a former IMF official. “But the IMF power is really limited to persuasion because it has few good instruments to promote cooperation among member countries who are unwilling to modify their policies.” While UK official questioned the new approach, telling reporters it sounded like the IMF would now just carry out its regular reviews of economies at the same time, Mr Boutros-Ghali said “the IMF is the place to deal with these issues”. Developing economies that compose the Group of 24 said low interest rates in the advanced world have left them vulnerable to exchange rate appreciation and overheating. Brazil has already stepped up intervention in the currency market in a bid to prevent its currency, the real, from rallying. Chinese officials said they “We are committed to a more flexible exchange regime,” People's Bank of China Deputy Governor Yi Gang said yesterday.
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pharoah88
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09-Oct-2010 17:36
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WHAT is STANDARD OF LIVING ? ? ? ? An analysis of the UBS study (Part 2): Moving towards a Russian standard of living and way of lifeBy Eugene Yeo, Consultant Editor 2009 FIGURES Singapore Moscow Zurich Wage level: 31.3 30.9 119.8 Domestic purchasing power: 39.9 49.4 106.9 Working time to puy iPod nano: 27.5 36.0 9.0 Price of services: 72.5 65.0 110.9 http://www.temasekreview.com/2009/08/26/an-analysis-of-the-ubs-study-part-2-moving-towards-a-russian-standard-of-living/ Is STANDARD Of LIVING TRUE or FALSE ? |
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pharoah88
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09-Oct-2010 16:03
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pharoah88
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09-Oct-2010 15:53
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JAPAN has mOre and mOre BEGGARS ? ? ? ? US has mOre and mOre BEGGARS ? ? ? ? FRANCE has mOre and mOre BEGGARS ? ? ? ? dO sIngapOre have mOre and mOre BEGGARS ? ? ? ? |
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pharoah88
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09-Oct-2010 15:48
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Is BEGGARing the wOrld ecOnOmy TRUE or FALSE ? |
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pharoah88
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09-Oct-2010 15:44
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REVIEW & FORUM Saturday: 9 OCTOBER 2010 Beggaring the World Economy CHICAGO – Global capital is on the move. As ultra-low interest rates in industrial countries send capital around the world searching for higher yields, a number of emerging-market central banks are intervening heavily, buying the foreign-capital inflows and re-exporting them in order to keep their currencies from appreciating. Others have been imposing capital controls of one stripe or another. In recent weeks, Japan became the first large industrial economy to intervene directly in currency markets. Why does no one want capital inflows? Which intervention policies are legitimate, and which are not? And where will all this intervention end if it continues unabated? The portion of capital inflows that is not re-exported represents net capital inflows. This finances domestic spending on foreign goods. So, one reason countries do not like capital inflows is that it means more domestic demand “leaks” outside. Indeed, because capital inflows often cause the domestic exchange rate to appreciate, they encourage further spending on foreign goods as domestic producers become uncompetitive. Another reason that countries do not like foreign capital inflows is that some of it might be “hot” (or dumb) money, eager to come in when foreign interest rates are low and local asset prices are rising, and quick to leave at the first sign of trouble or when opportunities back home beckon. Volatile capital flows induce volatility in the recipient economy, making booms and busts more pronounced than they would otherwise be. But, as the saying goes, it takes two hands to clap. If countries could maintain discipline and limit spending by their households, firms, or governments, foreign capital would not be needed, and could be re-exported easily, without much effect on the recipient economy. Problems arise when countries cannot – or will not – spend sensibly. Countries can overspend for a variety of reasons. The stereotypical Latin American economies of yesteryear used to get into trouble through populist government spending, while the East Asian economies ran into difficulty because of excessive long-term investment. In the United States in the run up to the current crisis, easy credit, especially for housing, induced households to spend too much, while in Greece, the government borrowed its way into trouble. Unfortunately, though, so long as some countries like China, Germany, Japan, and the oil exporters pump surplus goods into the world economy, not all countries can trim their spending to stay within their means. Since the world does not export to Mars, some countries have to absorb these goods, and accept the capital inflows that finance their consumption. In the medium term, over-spenders should trim their outlays and habitual exporters should increase theirs. In the short run, though, the world is engaged in a gigantic game of passing the parcel, with no country wanting to take the habitual exporters’ goods and their capital surpluses. This is what makes today’s beggar-thy-neighbor policies so destructive: though some countries will eventually have to absorb the surpluses and capital, each country is trying to avoid them. So which policy interventions are legitimate? Any policy of intervening in the exchange rate, or imposing import tariffs or capital controls, tends to force other countries to make greater adjustments. China’s exchange-rate intervention probably hurts a number of other emerging-market exporters that do not intervene as much and are less competitive as a result. But industrial countries, too, intervene substantially in markets. For example, while US monetary-policy intervention (yes, monetary policy is also intervention) has done little to boost domestic demand, it has spurred domestic capital to search for yield around the world. The US dollar would fall substantially – encouraging greater exports – were it not for the fact that foreign central banks are pushing much of that capital right back by buying US government securities. Singapore Banks, Temasek, GIC, MAS, were SELLING US$ Bonds to weaken US$ and Strengthen S$ ? ? ? ? All this creates distortions that delay adjustment – exchange rates are too low in emerging markets, slowing their move away from exports, while the ease with which the US government is being financed creates little incentive for US politicians to reduce spending over the medium term. Rather than intervening to obtain a short-term increase in their share of slow-growing global demand, it makes sense for countries to make their economies more balanced and efficient over the medium term. That will allow them to contribute in a sustainable way to increasing global demand. China, for example, must move more income to households and away from its firms, so that private consumption can increase. ++++++++ ALL BANKS nEEd to raIse DepOsIt Interest Rates tO mOve IncOme tO hOUsebOlds and retIrees frOm the fIrms. ******** The US must improve the education and skills of significant parts of its labor force, so that they can produce more of the high-quality knowledge and service-sector exports in which the US specializes. Higher incomes would boost US savings, reducing households’ dependence on debt, even as they maintained consumption levels. Unfortunately, all this will take time, and citizens impatient for jobs and growth are pressing their politicians. Countries around the world are embracing shortsighted policies that cater to the immediate needs of domestic constituencies. There are exceptions. India, for example, has eschewed currency intervention thus far, even while opening up to long-term rupee debt inflows, in an attempt to finance much-needed infrastructure projects. India’s willingness to spend when everyone else is attempting to sell and save entails risks that need to be carefully managed. But India’s example also provides a glimpse of what the world could achieve collectively. After all, beggar-thy-neighbor policies will succeed only in making us all beggars. Raghuram Rajan, a former Chief Economist of the IMF, is Professor of Finance at the Booth School of Business, University of Chicago, and author of Fault Lines: How Hidden Fractures Still Threaten the World Economy. Copyright: Project Syndicate, 2010. For a podcast of this commentary in English, please use this link: http://media.blubrry.com/ps/media.libsyn.com/media/ps/rajan10.mp3 You might also like to read more from Raghuram Rajan
Pasted from <http://www.sharejunction.com/sharejunction/postMessage.htm?topicId=8799&msgbdName=User Research/Opinions>
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pharoah88
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08-Oct-2010 15:48
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Is CURRENCY WAR TRUE or FALSE ? |
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pharoah88
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08-Oct-2010 15:37
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http://greathindu.com/2010/08/stop-reservations-meritocracy-is-the-only-way-out/ Stop Reservations: Meritocracy is the way outAugust 27th, 2010
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pharoah88
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08-Oct-2010 15:16
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Mhttp://www.fewt.com/2010/06/democracy-not-meritocracy-eliminating.htmlonday, June 28, 2010Democracy not Meritocracy - Eliminating the "Mediocracy"
The change to Aurora is much more than simply rebranding the operating system. This change brings with it a fresh new focus on community involvement. We believe in democracy as Aurora is a Linux distribution built by its users for its users. We know that by definition, without users there is no distribution. We also know that we aren't the experts at everything, and we look to the community to help Aurora continue to be an award winning Linux distribution.
Democracy within the Aurora community brings excellence. Aurora users have submitted dozens of beautiful wallpapers for inclusion in the distribution, and the community is now voting for the best to be included in the release ISO. Users with expertise in audio design are stepping in and building sounds to be bundled into the distribution. Becoming involved within the community is a simple process, just find something that you can improve and reach out to any one of us. In the Aurora community you won't find a walled garden where only opinions and decisions of certain individuals are absolute. By shifting to a Debian base we have eliminated the mediocracy inherent within software developed in a meritocratic distribution. We believe in providing fit, finish, and stability while bringing the newest software possible meeting these guidelines. Usability is one of our core values. Our release philosophy is simple, it is released when it is ready. Patches, and software updates are rolled into the distribution on an on-going basis eliminating the requirement to "upgrade" the distribution every six months. Users will find respins released on a schedule which roll up existing updates making patching simple for new installations. Like other distributions, the Aurora team develops custom software including the Exogenesis installer and the Jupiter hardware and power manager. Specific pockets of development are tiered in a meritocratic fashion however the development roadmap of products within Aurora is driven by its users. The Aurora team is focused on adding features and function needed by those that actually use the distribution rather than forcing change for the sake of change. User input is always welcome, and has been proven to improve the overall product. Becoming involved is as simple as reaching out to us in the Getting Involved forum. Aurora Linux - For users, by users. |
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pharoah88
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08-Oct-2010 15:01
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http://www.enationalist.com/forum/blog.php?b=147 Meritocracy:I have stated before that the sole legitimate purpose of the State is the to serve the interests of the Nation it governs.
But what type of government is best adapted to the fulfillment of that purpose? The answer is Meritocracy, which is the rule by those who are the most talented and capable.
In Meritocracy, a person is appointed to a position of authority and responsibility based upon individual merit and ability, in contrast to other systems, which reward things like wealth, popularity, heridity, or family connections.
Meritocracy, often referred to as a "dictatorship", is the traditional form of government used by our ancestors for millenia, as far back as the beginning of our existance. Teutonic tribes were always ruled by a tribal chief or king, Rome was ruled by emperors during the time of its greatness, and the white Egytians were ruled by a Pharoah. All great leaders througout history, from Julius Ceasar, to Napolean Bonaparte, to Adolf Hitler, were meritocratic dictators. Any other form of government, such as democracy, would have kept these men shrouded in obscurity, or made their ascent to power extremely difficult.
"There is a better chance of seeing a camel pass through the eye of a needle than of seeing a really great man 'discovered' through an election." -Adolf Hitler, Mein Kampf, p.80 Another reason for Meritocracy is it is in accordance with the laws of nature. When we look to the natural world, we see that flocks, herds, and packs of animals are led by a leader, an "alpha male", who is the undisputed leader of the group. It is he, not the masses, that decides where to hunt, when to move to a new area, what spot is best to take a rest for the night, and so on. A perfect example is the leader of a wolf pack, who asserts his leadership by means of physical strength or force of personality. Once his authority is established, the other wolves obey him completely.* A Meritocratic government is built around a heirarchy, where the best man is at the top, and his best followers right below him, and so on and so forth, down to the citizens at the bottom, who must remain loyal and obedient to the leader, and respect his decisions as being better than their own. In this way, it is much like a military heirarchy, which was guided by what the NSDAP called the "Führerprinzip", or leadership principle. "There must be no majority decisions, but only responsible persons, and the word 'council' must be restored to its original meaning. Surely every man will have advisers by his side, but the decision will be made by one man." -Adolf Hitler, Mein Kampf, p. 449
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