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Chirac proposes global tax; gates bets against dollar.(Insider Report)
In a speech delivered by video link-up to the World Economic Forum (WEF) in Davos, Switzerland, French President Jacques Chirac proposed a global tax on aviation fuel, financial transactions, and "capital flows" for the stated purpose of funding international aid programs. Not surprisingly, many at the January 26-30 gathering of the world's political, media, and business elite could find little fault with Chirac's proposal. South African President Thabo Mbeki regretted that the proposal would take "too long to get approval" and suggested circumventing the "consent of all the governments and parliaments around the world."
Former President Bill Clinton regretted that the tax proposal suffered from a lack of international support. In a similar vein, Microsoft founder and the world's richest man, Bill Gates, expressed chagrin that legitimizing and imposing the tax could take five or ten years and collecting and distributing the revenue couldn't wait that long.
Gates announced during an interview at the WEF that he was betting against the dollar, ...
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