DJ Thoughts on the GCR 6-24-2024
DJ: DID YOU KNOW?
We watch for a global financial reform (GCR) yet fail to take into consideration the diversity of governing bodies and systems that actually inhabit the world. The world is a tapestry of diverse governance systems, each shaped by a unique blend of historical, cultural, economic, and social factors. Understanding why countries have different forms of government requires diving into the complex interplay of these influences.
To implement a GCR each sovereign’s governing body must be considered. One size does not fit all.
In some cases the historical context of a country plays a pivotal role in determining its government structure. Nations with a colonial past often inherit elements of their colonizers’ political systems. As an example, many countries in Africa and Asia that were once part of the British Empire adopted parliamentary systems.
Conversely, nations with revolutionary histories, such as the United States and France, often developed systems that reflect their struggles for independence and democratic ideals, leading to presidential and semi-presidential systems, respectively.
In other cases cultural values and social structures have shaped governance. In societies with a strong emphasis on communal decision-making and consensus, such as many indigenous communities, governance systems often reflect these principles. Some African nations incorporate traditional councils into their modern political frameworks. In other nations, the role of religion significantly influences government forms, as seen in the theocratic systems of Iran and Saudi Arabia, where religious doctrine guides political decisions.
Economic conditions can also drive the form of government a country might adopt. Industrialized nations with diverse economies tend to favor democratic systems that can adapt to changing economic needs and encourage innovation.
On the other hand, countries with economies heavily reliant on natural resources may develop more centralized forms of government, where control over resources can translate into political power, as seen in many oil-rich states.
For any type of universal financial system to integrate into the diversity of forms of government across the globe, it has to take into consideration the multifaceted nature of human societies. With that requires adaptation of a universal financial language ( Basel 3.5 and ISO 20022 with likely more to come). Most have adapted these languages but not all have yet.
Also keep in mind that each sovereign country must look after the specialized needs within their borders. In fact it is their duty, regardless of any particular governance structure, to make decisions that are beneficial to its people. In order to fulfill that function a country must be sovereign.
Sovereignty is crucial for a country as it ensures its autonomy and the ability to govern without external interference. It is essential for preserving a nation’s integrity, stability, and the democratic principle of self-determination.
This independence allows a nation to make decisions that reflect the will and interests of its people, maintain control over its resources, and implement policies tailored to its unique cultural, social, and economic needs. Sovereignty also enables a country to enter into international agreements and participate in global affairs on its own terms, thereby protecting its national identity and promoting its development.
So while the masses and Intel providers seem focused on the mechanisms being structured, developed and deployed for delivery of these funds it is the “behind the scenes” geopolitical activity that is crucial. How these funds will integrate into the diversity of governance structures is the key.
Anyone can build a boat but if there is no water to float it on all you have is a motor home with no wheels.
DJ