Who Runs the World? (cont'd.)

     No WAISer seems to have heard of Edmund Safra, a powerful banker allegedly involved in Russian money-laundering. How many of you had heard of equally powerful Mark Mobius, to whom The Economist (12/4) devotes a feature article entitled "The face of Mammon"? It calls him "the incarnation of international capital". An American who switched his nationality to German for security reasons, he lives (yes!) in a luxurious $20 million corporate Gulfstream IV, flying around the world.
     Surprisingly, he is said to incorporate "protestant-Islamic capitalist ethics" (?!). He demands "transparency, fairness and equality before the law". He manages the huge Templeton mutual fund, the creation of Sir John Templeton, a thoroughly honorable man for whom I have an immense admiration.
     The Seattle protests against the WTO were marred by the mad antics of ignorant fools. They were resented by the serious, informed protestors who made excellent presentations in TV interviews. Among them were the leaders of the United Steel Workers of America. Those who attacked the U.S. government should note that Brazil, which produces over half of the steel in Latin America, led the protests against U.S. attempts to bring up the subject of workers' rights. The serious critics of the WTO knew about Mark Mobius and proclaimed their disapproval of him. A debate between them would have been informative and enlightening. The Economisy, a serious pro-capital journal, would on balance have favored Mark Mobius.

Ronald Hilton - 12/13/99