Saturday, December 26, 2009

A Christmas Carol

(With apologies to the Charles Dickens classic).

* * * * * *

The Spirit of the Semi-periphery stood among the sovereign wealth funds, and pointed down to one LCD screen. Government Sachs advanced towards it trembling. The Phantom was exactly as it had been, but he dreaded that he saw a new Tobin tax in its solemn shape.

"Before I draw nearer to that transaction to which you point," said Sachs, "answer me one question. Are these the interest payments on the T-bills that Will be sold, or are they interest payments of auctions that May be, only?"

Still the Ghost pointed downward to the screen by which it stood.

"People's investment funds will foreshadow certain management fees, which, if persevered in, must increase," said Sachs. "But if the funds be divested, the returns will change. Say it is thus with what you show me."

The Spirit was immovable as ever.

Sachs crept towards it, trembling as it went; and following the finger, read upon the LCD screen the deleted file, its own name, US EMPIRE 1898-1985.

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