Strike a pose - capital controls back in vogue at IMF … f-toolkit/

This was largely covered by George Soros in “The Open Society and It’s Enemies”. One of the points he makes about how he profited from currency speculation is that he really shouldn’t have been allowed and it would have been quite simple to stop him, but he benefitted from ideological opposition. Apparently the short position is mightier than the elegant theory. Who knew?

“Capital Controls” is one of the dogmas that will carry on unchallenged. Even though the lack of them, together with the de-regulation of the banking system, was the main reason we are in the worst financial crisis since the 30’s.