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Marti, 02/10/2012

Doctor Mark Mobius, considered as one of the most influential investors on the emerging markets, the Executive Chairman of the Templeton Emerging Markets Group, who temporarily shepherds the interests of the “Proprietatea” Fund in Romania, asserts the thesis of a world-wide financial conspiracy: “I don’t think we are having a crisis, I think that a large part of the arguments suggesting the existence of a global crisis are invented”.

Certainly, as seen from the perspective of the American professionalism associated to the “Wall Street” brand, we could be considered as retarded, communists or inadapted to the spirit of free market economy, but never as stupid! Why is that? Because investments in brains are made with more determination in a country like Romania, which is a supplier of grey matter for the states union represented by the aforementioned doctor.

When Nouriel Roubini, a genius of economy and financial forecasts, or Joseph Stiglitz, the holder of probably the most important Nobel prize in economics ever awarded, both Americans, just like many other specialists interested in the economic truth, asserted with clear and substantiated evidence that the human kind was experiencing a serious economic crisis in terms of its system and structure, generated by greed, by the pursuit of profit at any cost, of that immoral profit at the limit of legality or beyond it, by the utmost perfidious and maculate side of the human nature, reflected particularly by the perpetual and gangrenous amalgam between the political and financial matters, at the global level, I believe that we should give them credit.

The deep crisis can be seen even with the naked eye, it can be felt in everything that relates to the global economy.

Let’s try however to introspect into the economic situation of the world in order to identify the "invented arguments" regarding the global crisis, invoked by the doctor (in economics, if I’m not mistaken):

1. The financial effort of the USA during the period of 2008-2009 in order to alleviate the destructive effects of the subprime lending crisis amounted to USD 2,000 billion, while other USD 7,700 billions were circulated from the American state-owned financial institutions involved in this sanitation process;

2. The European Union, through the ECB, ESM and EFSM threw approx. 2,000 billion EUR into the black hole of the “invented” crisis, the process being now in full progress, based on a hard to believe unconsciousness of the creators of this faulty and immoral formula for solving the sovereign debts crisis, which is the equivalent of the subprime lending crisis in the USA;

3. The austerity plans adopted particularly in the southern states of the European Union, which blew up even the last shade of hope for solving the financial crisis they are now facing;

4. The thousands of billion Euros as public debt of the European states and even of the USA, reaching unimaginable levels, from 100% to 160% of the GDP; 

5. An infinity of toxic assets in the American and European economic structure that reached, after their derivation, more than USD 500,000 billions, i.e. approx. 33 GDPs of the USA, most of which remain unliquidated and unrecovered, even though they should have been, those with a direct impact on the national budgets, or even those that were criminally supplied with thousands of billion USD and Euros and which exponentially aggravate the global economy;

6. The negation of the virtues of economic liberalism and the regain of supremacy of the state interventionism, which throws billions of USD and Euros of the global taxpayers’ money into black holes, thus deepening the global economic crisis instead of solving it, providing the prerequisites of the “perfect storm” of 2013, announced by Nouriel Roubini with so much conviction.

Therefore, dear doctor Mark Mobius, seeing these overwhelming arguments, how can you still claim that the current global crisis, caused by your peers on Wall Street, does not really exist, relying on invented arguments?

Why are you trying to mislead the societies and populations of the emerging states? Why don’t you defend your theses in front of the creators of the global economic crisis, co-nationals of yours, highly active, just as you are, particularly on the emerging markets, because of which Romania is now forced to undeservedly bear its fatal effects?

Dear doctor Mark Mobius, why don’t you continue your adventure in the emerging Romania, supporting the initiatives of the shareholder of the “Proprietatea” Fund, i.e. the American hedging fund Elliott Associates, together with Beresford, an affiliate of the Elliot Group, in selling the assets that were entrusted to you for administration purposes, and not for alienation? Why don’t you liquidate, as you were appointed to do by your co-nationals, this structure of the Romanian taxpaying people, which is a creation that lacks intelligence just as much as it is inefficient, collect your profit, but give up trying to fool us and cover the crime of your white-collar peers on Wall Street that caused the global economic crisis we have all been facing for the last 3 years and will probably continue to face for just as long!

Blanculescu, an economist from the East!