Tenets
CAC has 5 basic statements designed as points of action:
- All types of liquid capital assets must be able to be exchanged freely, between any two nations in the world, with standardized exchange rates.
- The amounts must be a significant amount (in excess of $500,000).
- Capital inflows should be invested in semi-liquid assets, to prevent churning and excessive outflow.
- Institutional investors should not use CAC to manipulate fiscal policy or exchange rates.
- Excessive inflows and outflows should be buffered by national banks to provide collateral.
Read more about this topic: Capital Account Convertibility
Famous quotes containing the word tenets:
“As for the tenets of the Brahmans, we are not so much concerned to know what doctrines they held, as that they were held by any. We can tolerate all philosophies.... It is the attitude of these men, more than any communication which they make, that attracts us.”
—Henry David Thoreau (1817–1862)
“Indigenous to Minnesota, and almost completely ignored by its people, are the stark, unornamented, functional clusters of concrete—Minnesota’s grain elevators. These may be said to express unconsciously all the principles of modernism, being built for use only, with little regard for the tenets of esthetic design.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)
“There comes a time in the affairs of men when they must prepare to defend not their homes alone but the tenets of faith and humanity on which their churches, their governments and their very foundations are set. The defense of religion, of democracy and of good faith among nations is all the same fight. To save one, we must now make up our minds to save all.”
—Franklin D. Roosevelt (1882–1945)