Many rich countries in the last decade have established SWFs.
Rather than using revenues for day-to day government expenditure governments have put billions of revenue from selling resources such as oil, gas into SWFs which are supposed to supplement impending Pension Crisis.
Their overall worth now stands in the Trillions of $. Estimated to be over 6 trillion $ end of 2013.
The questions are;
1) Should there be enforceable rules for (SWF
2) Are they being used for strategic purposes rather than commercial ones?
3) Should they be barred from investing in ecologically damaging or dubious industries overseas?
4) Are they influencing national security and political independence?
5) How is the Money ( trillions) be eventually distributed – to whom?
6) Why are they not mentioned by the Economic gurus of the world?
7) What are their long-term objectives?
8) Can they be trusted?
9) Is all the Money clean?
10) ARE WE BEING HOOD WINKED INTO A WORLD WHERE EVERY THING WILL BE PRIVATELY OWNED.
The answer is to date most SWFs rather than ameliorating inequalities or subsidizing the consumption of the poor are intended to finance unspecified prestige projects for ruling families.
Largest sovereign wealth funds.
|Largest Sovereign Funds (SWFs) – 2012 Ranking|
Read more: http://www.gfmag.com/tools/global-database/economic-data/12146-largest-sovereign-wealth-funds.html#ixzz2v0ny419u
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