Thursday, April 29, 2010
Where were the Iraq Elections Monitors?
Wednesday, April 28, 2010
Media Coverage Misrepresents Yemen's Real Problems
Profit at Any Cost
Monday, April 26, 2010
A New US Dollar
Most $100 bills circulate outside US national territory. Dollar bills are used nearly everywhere as a parallel means of exchange, especially in countries with weak and unstable currencies. In particular, the dollar is favored for corrupt deals and criminal operations, where cash often changes hands in suitcases or under the table. Demand has been so brisk, that the US Treasury has kept the printing presses busy. Bills of $100 denomination or larger have increased by about $275 billion since the beginning of 2002, according to the New York Times.
It appears that the US government is exporting about $30 billion per years in bank notes to the rest of the world. Considering that the cost of producing these notes is relatively low, this gives the US a much-needed boost in its chronically unbalanced international payments, which in 2009 were $419 billion in the red. The new bill apparently aims to shore up this valuable export market.
In the recent past, there have been many critics of the dollar as the world’s major currency. The dollar is losing some of its luster as a universal store of value. Large-denomination euro bills are now coming into favor. In fact, circulation of large euro notes has increased about $600 billion in value since 2002, about twice the value increase of the large-denomination US dollar notes. Clearly, people are not as keen on the dollar as they used to be.
Though slipping, US currency exports still continue to be a big and even vital business, and Washington hopes to keep it that way.
Dollar notes are more than payment balances. They are also convenient tools of foreign policy. In the 1990s, Washington engaged in wholesale exports of dollars to complete with the Russian ruble. According to press reports at the time, a jumbo cargo jet departed every week from Kennedy Airport, bound for Moscow, packed with crates of newly-printed $100 bills, direct from the Federal Reserve Bank of New York. Tens of billions of dollars found their way into the Russian economy by this aerial route, feeding the underground deals of the new oligarchs.
Washington also used greenbacks to finance the new government it created in Afghanistan with hundreds of millions in cash. And soon after ousting Saddam Hussein, US authorities organized an airlift of currency to pay for expenses of the occupation government in Iraq. According to a later Congressional investigation, US Air Force C130 Hercules cargo planes ferried more than $12 billion in newly-printed US currency from New York to Baghdad. In just over a year, from May 2003 through June 2004, 363 tons of US currency crossed the ocean to Iraq in shrink-wrapped plastic containers. The great majority of notes in these operations were in the $100 denomination.
The dollar is still big business and the printing presses keep on rolling. The new hundred dollar note is a move to boost the dollar’s mystique, at a time when the greenback is losing its global standing. But it will take more than a fancy print job to return the dollar to its former glory.
Friday, April 23, 2010
Women Farmers, Peasant Movements and Land Grabbers
Thursday, April 22, 2010
Peak Oil is Official!
So what is being done by Washington and other governments to address this unprecedented crisis? Time is short and the implications vast. The leaders have not made any announcement or devised emergency measures. President Obama, Prime Minister Brown and the rest have avoided the issue almost entirely. Meantime, growth is up, auto sales are rising, and we are headed for the energy abyss.
Wednesday, April 21, 2010
Aide Memoire
Tuesday, April 20, 2010
Baltasar Garzon: Pillar of justice or Abuser of power
Tuesday, April 13, 2010
Dangerously Secure Security Council
Monday, April 12, 2010
Crime of Aggression: Pragmatic Reasons or a Fear of Scrutiny?
In May, states party to the International Criminal Court (and other observers) will gather in Uganda to discuss the 1998 Rome Statute; one topic on the agenda is the definition of a crime of aggression. The crime of aggression was included in the Rome Statute, but a lack of consensus over definition prevented the ICC having jurisdiction over the crime thus far.
The United States, following World War Two, famously included the inclusion of a crime of aggression in the Nuremburg and Tokyo Trials. Robert Jackson, Chief Prosecutor for the US, stated: "to initiate a war of aggression, therefore, is not only an international crime; it is the supreme international crime..." However, in a situation that is all too familiar, the shoe does not fit so well when it is on the other foot.
Articles in the New York Times and Washington Post argue that jurisdiction over crimes of aggression would be terrible for pragmatic and political reasons. However, it is evident - both explicitly and implicitly - that fear of judicial scrutiny for US aggression lies at the heart of their arguments.
Both articles assert that jurisdiction over the crime of aggression would be too difficult because one could never successfully enumerate the grounds on which the crime occurs. And indeed, their arguments carry significant truths. There will be considerable difficulties in establishing how to assign individual responsibility for group actions. It will be immensely complex to determine the definition of aggression, and when an act of aggression becomes a crime of aggression. And formulating the relationship between the Security Council and ICC's jurisdiction over crimes of aggression will be far from easy.
However, these are obstacles to be overcome not dismissed. Legal systems across the world have always been plagued by difficulties of definition, but no one gave up prosecuting murder because of the difficulty in defining intent.
ICC signatories are doing wonderful work to build consensus on the parameters of the crime of aggression. One particular definition of the crime of aggression, I believe, is particularly praiseworthy:
"For the purposes of this Statute, the crime of aggression is committed by a person who is in a position of exercising control or capable of directing political/military actions in his State, against another State, or depriving other peoples of their rights to self-determination, freedom and independence, in contravention of the Charter of the United Nations, by resorting to armed force to threaten or to violate the sovereignty, territorial integrity of political independence of that State or the inalienable rights of those people."
Glennon appears unaware that "international equilibrium" is bollixed because of unchecked, unilateral acts of aggression, not the other way round. Universal judicial scrutiny is fundamental if unjust, illegal and destructive acts of aggression, like the attack on Iraq, are to be prevented in the future.
At the heart of US opposition to the ICC and jurisdiction over crimes of aggression is Glennon's worry of "good faith" practitioners being prosecuted. As Stephen Rademaker argues in the WP article: "Washington has always been the sole judge of whether a particular use of force was justified under international law." If the ICC were to take over this role, the US ability to act aggressively would be considerably curtailed. If the structures to investigate crimes of aggression had existed in 2003, would Cheney, Bush and Blair have acted so rashly in Iraq?
Contrary to Rademaker and Glennon, I believe jurisdiction over crimes of aggression will not inundate the ICC with prosecutions; that is not the predominant aim. Rather, jurisdiction over crimes of aggression will reinforce Benjamin Ferencz's wise words that "war-making is no longer a national right" and that no country can act with impunity.