statism watch

Problem, reaction, solution: globalist bankers have been successful at blowing out the US dollar and the Euro and bringing them to the brink via massive wealth destruction through the sale of fraudulent derivative securities, the monetization of the resultant debt, and “stimulus” inflation. This artificial debt bubble is just about set to pop, and a new solution is being offered by the same people, in much the same way a crack dealer strings along his victims.Want a hit? The first one’s free.

Related: RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve | The scary euro? Maybe the most frightening monster is the greenback | Germany could cause euro collapse: Soros | Spain could test the euro to its limit | US money supply plunges at 1930s pace as Obama eyes fresh stimulus | Germany’s Merkel Says Euro Is in Danger | Ron Paul: Euro Bailout Will Lead To Currency Collapse | Ontario launches U.S. bond | IMF chief proposes new reserve currency | Man who broke the Bank of England, George Soros, ‘at centre of hedge funds plot to cash in on fall of the euro’ | Collapse of the euro is ‘inevitable’: Bailing out the Greek economy futile, says French banking chief | Euro currency union shows strains | The Federal Reserve as Giant Counterfeiter | Current And Former IMF Heads Call For New Global Currency | George Soros Calls for World Currency and “New World Architecture” | U.S. dollar sags on global financial leaders’ omission | G20 Meet To Finalize Dumping Of Dollar This Weekend? | Dollar Reaches Breaking Point as Central Banks Shift Reserves | Fisk: Nations to hasten demise of dollar in new world order | US dollar set to be eclipsed, World Bank president predicts | Bilderberg Wants Global Currency Now | Dollar to fall under scrutiny at G20 summit | UN wants new global currency to replace dollar | G20 agrees to continue economic stimulus measures; Geithner shops international reserve accord | China Set to Buy $50 Billion in IMF Notes | Medvedev Unveils “World Currency” Coin At G8 | China calls anew for super-sovereign currency | China explores buying $50bn in IMF bonds | Chinese economists deem huge holding of US bonds “risky” as Geithner visits| U.N. panel says world should ditch dollar | IMF may need to “print money”, act as “world’s central bank” as crisis spreads | Globalists Exploit Financial Meltdown In Move Towards One World Currency | World needs new Bretton Woods, says Brown

Gabriella Casanas, Mick B. Krever, CNN
June 29, 2010

The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday.

The use of the dollar for international trade came under increasing scrutiny when the U.S. economy fell into recession. “The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency,” the report said.

Many countries, in Asia in particular, have been building up massive dollar reserves. As a result, those countries’ currencies have become undervalued, decreasing their ability to import goods from abroad.

The World Economic and Social Survey 2010 is supporting a proposal long advocated by the International Monetary Fund to create a standardized international system for liquidity transfer.

Under this proposed system, countries would no longer have to buy up foreign currencies, as China has long done with the U.S. dollar. Rather, they would accumulate the right to claim foreign currencies, or special drawing rights, or SDRs, rather than the currencies themselves.

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It’s really quite painful and baffling to read this coverage, based as it is on so many utterly false premises. As certain as the sun will rise tomorrow, fundamental economic laws dictate that at some point in the not too distant future, the system must collapse. Macroeconomists can talk all they want about surfing that fine line between Keynesian stimulus and correction, but the economic dynamic that nobody really ever addresses at these talking shops is a lot like a hot air balloon. You can keep pumping it up and skirting the treetops only so long as there is real value to feed into the burner. Once you’ve fully indebted national populations by borrowing against their future and there’s nothing left to tax to hand over to the final creditors, you’re no longer facing a manageable correction. It’s an engineered cataclysm, and your balloon has become the Hindenberg, pregnant with sovereign debt. The world finds itself on the horns of a dilemma for which bad economic theory is primarily responsible. Small wonder it’s referred to as the dismal science.

Oh, and there’s just one more thing – Greenpeace reports it already has a draft copy of the final G8 communique. It seems unlikely a state head will entirely ignore their economic advisors. So if the agreement has been mostly worked out beforehand in broad stokes by (we gather) the bureaucracy and central bank staffers, and if there’s just a few details left to debate, then what’s the point of this whole charade?

Related: The End of The Great Bailouts is Approaching | The Real Meaning of ‘Economic Austerity’: IMF/World Bank devastation | For G20 leaders, fiscal austerity is the new normal | IMF says Spain taking right steps towards stability | Harper urges austerity, Obama stimulus in urge for G20 to boost economic recovery | Carney warns of ‘age of austerity’, global outlook ‘getting worse’ | Spanish bailout readied as EU chief warns ‘democracy could disappear’ in debt ridden states | Europe embraces the cult of austerity – but at what cost? | | British face big spending cuts as coalition shows unity on austerity | Impact of $47B stimulus minimal: Fraser Institute | More stimulus spending coming | Federal budget watchdog disputes Flaherty’s forecasts | Hope keeps Flaherty’s balanced budget afloat | Tories hand out $75 billion worth of ’spending restraint’ | Stimulating our way into debt crises | IMF warns against retreat from stimulus spending | Flaherty’s economic plan blasted as leading to taxation or cuts | Idle job market hurting recovery, Flaherty warns | No new stimulus, economy ’stabilized’: Harper | Lower tax haul helps widen Ottawa deficit, $56.2B shortfall expected | Can’t say if federal stimulus is working: watchdog | Liberals call stimulus numbers ‘fiction’ | Ottawa on track for largest-ever deficit | Flaherty, USA say no to global financial tax, yes to continued ’stimulus’ at G20 | Economic picture still not very bright, and more layoffs are in store, manufacturers say | G20 to pledge continued ’stimulus’, examine international reserve fund | Aspiring government economists must reveal views on stimulus plan | Fund me or axe me, parliamentary budget officer says | Stephen Harper trumpets economic report card | Carney says G20 must stay the course on stimulus | Ottawa’s deficit plan would hike EI premiums | Canada’s $1-trillion debt baby | Flaherty sees deficit, debt, and timetable to return to surplus all expanding | G20 agrees to continue economic stimulus measures; Geithner shops international reserve accord | Federal deficit hits $7.5B in April-May | Budget officer ‘can’t tell’ if stimulus plan working | G8 leaders see no early end to stimulus | Flaherty looks for way to end stimulus | Stimulus cash is flowing – down a hole? | Harper lays out stimulus spending in progress report | ‘Reduced pace of deterioration’ indicates economy on the mend: Flaherty | Federal deficit to top $50B | Stimulus needed now, Bank of Canada says | US Congress reaches deal on economic stimulus package | $12B for infrastructure forms key pillar of stimulus package | Brace for a big, ‘comprehensive’ budget: Harper | Transport Minister Baird calls for dramatic action on stimulus package | Obama calls for ‘dramatic action’ on stimulus package | Flaherty vows short-lived deficit, consults corporate chiefs on spending initiatives | Harper government plans deficits as deep as $30 billion | Britain to introduce massive stimulus package | Deficits ‘essential,’ Harper says | Flaherty eyes sale of Canadian government assets | Flaherty lauds Keynesian global ‘economic stimulus’ strategies

Patrick Wintour, Larry Elliott, The Guardian
June 25, 2010

Apparent rifts add to growing jitters over global stock markets, which have been falling for four days in a row

Signs of deep rifts over how quickly to cut national deficits were emerging as world leaders gathered in Toronto for summits of the G8 and G20 groups of rich nations today.

The divisions added to growing jitters over global stock markets, which have been falling for four days in a row.

The US, led by Treasury secretary Tim Geithner, is resisting moves to cut deficits early, with Geithner warning that growth and confidence are paramount.

There are increasing fears of the risk of a double-dip recession in the US, with house sales falling and a slow pick-up in employment.

But the German chancellor, Angela Merkel, and her allies have been insisting that her plans to cut Germany’s deficit by €80bn (£65.8bn) over four years will not stall growth. Merkel has warned that the sovereign debt crisis in Europe requires urgent action.

Admitting that discussions at the summits would be controversial but stressing that deficit reductions needed to be in place now, she said: “I and the EU will argue this position. There are others who are not yet so convinced of this exit strategy.”

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Related: Canwest sells newspapers to creditor group for $1.1B | Shaw buying up CanWest TV assets from Goldman-Sachs | Goldman appeals CanWest, Shaw deal | Shaw Cable moves for acquisition of controlling share in Canwest Global | Tipping point at CanWest | Obama: We Need To Bailout Newspapers To Stop New Media Taking Over | Tech giants respond to Media with ideas on charging readers for news online | Reuters Steps Up; Says Linking, Excerpting, Sharing Are Good Things For The News | Associated Press Tries To DRM The News | Should linking be illegal? | Ottawa considering aid for private broadcasters | The Death of Canadian Journalism | Prepackaged News

Susan Krashinsky, The Globe and Mail
June 23, 2010

The judge ordered the feuding parties to negotiate, and after 16 hours of talks, the sale of the TV stations was reached

It took more than 16 hours of negotiations and $11-million to remove the final roadblock to the purchase of the CanWest TV empire by Shaw Communications Inc. (SJR.B-T19.44-0.20-1.02%) – and to mark the end of the Asper family’s involvement in the broadcasting company Izzy Asper founded with a single TV station in 1974.

An Ontario court approved the sale to Shaw on Wednesday, after the company resolved a dispute with a shareholder group led by the Aspers, who objected to the deal. On Tuesday, Madam Justice Sarah Pepall called the situation “ridiculous” and ordered lawyers to resolve it out of court.

Talks ran through the day on Tuesday until 2 a.m. Wednesday, and resumed in the morning, ending in the settlement.

In February, Shaw won court approval to invest in a restructured CanWest, but encountered resistance from Goldman Sachs Group Inc., which still controlled a group of the company’s lucrative specialty channels. In May, Shaw announced it would pay $700-million for those channels, raising the price of its deal to $2-billion in total, and raising its stake in CanWest to 100 per cent.

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Compare the operations of the (temporary) JIG and (permanent) INSET headquarters to the proliferation of federalized Fusion Centers springing up across the US. Fusion Centers blend the operations of the military, intelligence, and local police – previously firewalled off for reasons of jurisdiction and to necessarily protect the civil liberties of Americans by making a distinction between operational theaters. Clearly, the military is designed to kill and break stuff, while the police are traditionally tasked with upholding the law. The US drive to integration through cross training and shared resources generates justifiable concern, and the US Fusion Centres have come under increasing criticism both for their surveillance capabilities and for singling out political leaders and minority groups outside of the mainstream as threats.

We see an echo of this US federalization under Homeland Security being carried out north of the border with INSET, JIG, and the ISU coordinating. We even have our own Department of Homeland Security, of course, the kinder, more gently named Department of Public Safety. Created in the wake of 9/11 and presently headed by Vic Toews. The Department of Public Safety recently announced a plan to create a new body to increase state oversight and control over ‘critical infrastructure’. The common thread here is centralization of power, and the question Canadians need to ask themselves is, where does the greater risk lie – in the bogeyman of terrorism (you’re more likely to be struck by lightning), or the creation of massive new bureaucracies of control? Even though the officers working away at the old Bemis toilet seat factory up in Barrie may today be the most well intentioned people in the world, history indicates the systemic risk being introduced into the Canadian enforcement system is far more dangerous than any individual ISI patsy, woundup and pointed in our direction from half a world away.

Related: Infrastructure security plan unveiled | Public Safety Canada announces national plan to centralize operations in state of emergency | US Police to get access to classified military intelligence | Ground broken on $3.4 billion Homeland Security complex | Military challenge: Make spy data more accessible | For more, see the G20 Coverage page feature

Michelle Shephard, Tanya Talaga, The Toronto Star
June 22, 2010

If something goes wrong at this weekend’s summit, the call will go to Barrie

If something goes wrong, the Barrie nerve centre will buzz.

The JIG is up, is how the phalanx of Canadian police and security forces converging for the G20 and G8 summits refers to it.

As in, the Joint Intelligence Group for the Integrated Security Unit is up in Barrie, where everyone will turn should any major attack happen during the summits.

Unless the threat is terrorism. And then the unfortunately named acronym of the DIC is in the SOC, as in the Domestic Incident Command is in the Special Operations Centre, applies.

Which means command control goes to Toronto’s RCMP-led terrorism unit that was created after the 9/11 attacks and is known as INSET, or Integrated National Security Enforcement Team.

Their headquarters just north of the city, is supposed to be covert but became a rather poorly kept secret when the ribbon-cutting for the facility included a large contingent of Mounties in red serge posing on the lawn outside.

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Related: EU to push for global bank tax at G20 | France surrenders to Germany’s demand for Euro oversight by central bank | Spanish bailout readied as EU chief warns ‘democracy could disappear’ in debt ridden states | Eurozone plan for common bond issue to head off debt crisis | EU plans to create watchdog to curb credit rating agencies | European Council On Foreign Relations: EU Needs To Use Crisis For Greater Power | Sarkozy threatened to quit euro in showdown with Germany: Report | European Powerbrokers Present Proposal For New Economic And Political Order | Europe and America Morally and Financially Bankrupt | EU wants member countries to co-ordinate budgets | Western Central Banks back Trillion Dollar European rescue plan, ECB to manage markets | Euro zone to regulate hedge funds, vows to fend off ‘wolf pack’ traders at all costs | European Central Bank chief: Bank of International Settlements to Rule the Global Economy

Marta Andreasen, The Telegraph
June 20, 2010

As the debate continues over the European Commission’s proposals for “peer review” of national budgets, Marta Andreasen, the European Commission’s former chief accountant, gives her blunt opinion.

What does the EU do best? Blame others and grab power.

That is the only sensible conclusion to be drawn from the European Commission’s intention to press on with its insistence on scrutinising national governments’ budget plans, including that of Britain.

At last week’s EU summit David Cameron, in his first Brussels outing as the newly-elected Prime Minister, made clear that the UK was not happy at the prospect of having its tax and spending “peer reviewed” by other EU members before it could be put into effect.

But within minutes of the meeting ending, and despite signs that other countries recognised the problem for Britain, the Commission said it would bring forward its proposals just the same, by the end of this month.

While we are all trying to swim through this financial crisis without knowing exactly when and how it will end, the EU bureaucracy immediately looks around to find someone to blame.

But the fact is that this very bureaucracy is responsible for the crisis, because it brought countries into the single currency in the knowledge that their economies were not up to speed.

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From Wikipedia: During an interview with Bagri on 28 October 2000, RCMP agents describe Surjan Singh Gill as an agent for CSIS saying the reason that he resigned from the Babbar Khalsa was because his CSIS handlers told him to pull out… A Security Intelligence Review Committee cleared CSIS of any wrongdoing. However, that report remains secret to this day. The Canadian government continues to insist that there was no mole involved.

The police interview being referred to is here. (Refer to page 51). So if CSIS knew for months a bomb was being constructed and if they had an agent, a mole, in the organization – the same old pattern – then why did the bombing go forward? Was it really just jurisdictional infighting? On Jan 26, 2000, a former CSIS agent told the Globe that the reason that hours of taped evidence was destroyed was because it was feared the RCMP wouldn’t protect the identities of informants. Indeed. Obviously time and the machinations of intelligence agencies have obscured the facts here, but a few hours of research into the documents make it clear there’s a coverup. The Indian newspaper Tehelka contains a report that a Punjab human rights NGO called PHRO conducted an extensive international investigation into the bombing and concluded that “After the Khalistan movement gained in sympathy in the West, especially in Canada, after the 1984 Blue Star operation and the killing of Sikhs in Delhi, a plot was hatched to discredit the Sikh movement” and concluded on the forensic evidence that the suspect, Talwinder Parmar, was assassinated in police custody to prevent the exposure of Indian agents in the plot. (For more background on the case entire, see the CBC’s special page here.)

Who knows at this point. What we do know is that everybody walked but the guy who wired up the bomb, and now Canadian terror investigations are to be centralized under a new Federal office. It all seems a little too reminiscent of the MacDonald Commission:

Related: Canadians who trust our secret police should think again

Tonda MacCharles, Richard J. Brennan, The Toronto Star
June 17, 2010

OTTAWA—Families of the Air India bombing victims will receive compensation and an apology after a special inquiry report blamed a turf war between the RCMP and Canada’s spy agency for failing to prevent the disaster.

Dabbing away tears afterward, Toronto’s Shipra Rana, whose sister Shyla Aurora was on the ill-fated flight, said what bothered her most was that there were so many signs that a terrorist attack was going to happen and that so many people ignored them.

“The government knew exactly what was going to happen, they knew exactly what kind of bomb that was going to be put on the flight and they just ignored it … it wasn’t taken seriously,” Rana said after the damning report was released Thursday.

Former Supreme Court of Canada justice John Major led a four-year inquiry into the June 23, 1985 explosions that killed 329 crew and passengers, and two baggage handlers at Tokyo’s Narita airport.

In a scathing report that delves into the investigative and prosecutorial failures in the worst terrorist attack in Canadian history, Major blasts a culture of “complacency” that still threatens air travelers today.

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Related: Lieberman Bill Gives Feds ‘Emergency’ Powers to Secure Civilian Nets | Cyber Command: We Don’t Wanna Defend the Internet (We Just Might Have To) | Pentagon: Let us monitor your network or else | US appoints first cyber warfare general | NSA head confirmed as chief of US cyber command | Cybersecurity event seeks to spur international talks | Danger Room What’s Next in National Security Prospective U.S. Cyber Commander Talks Terms of Digital Warfare | Canadian researchers reveal another botnet in China, call for state cybersecurity | U.S. cybersecurity bill introduced in Senate | Cyberattacks push CSIS to reach out to business | United States weighs massive expansion of Internet monitoring | Cyberwar Hype Intended to Destroy the Open Internet | Google, NSA may team up to probe cyberattacks | UN agency calls for global cyberwarfare treaty, ‘driver’s license’ for Web users | Death Of The Internet: Censorship Bills In UK, Australia, U.S. Aim To Block “Undesirable” Websites | Australia introduces web filters | Obama Wants Computer Privacy Ruling Overturned | UK Internet surveillance plan to go ahead | Security boss calls for end to net anonymity | Case for Internet spying not closed | Planned Internet, wireless surveillance laws worry watchdogs | UK ISPs condemn Internet surveillance plans | UK to found new ‘cyber-security’ units attached to national eavesdropping centre | ISPs must help police snoop on internet under new bill | UK plans to integrate ‘cybersecurity’ centre with US, Canada | Cybersecurity Is Framework For Total Government Regulation & Control Of Our Lives | Obama Set to Create A Cybersecurity Czar With Broad Mandate | EU wants ‘Internet G12′ to govern cyberspace | UK Home Secretary has secret plan to surveil, ‘Master the Internet’ | Should Obama Control the Internet? | Cybersecurity law would give feds unprecedented net control | Munk Centre researchers discover botnet, call for international cyberspace ‘legal regime’ | NSA Dominance of Cybersecurity Would Lead to ‘Grave Peril’, Ex-Cyber Chief Tells Congress | Do We Need a New Internet? | Defense Contractors See $$$ in Cyber Security | RCMP to helm a Canadian “cyber-security strategy” | Sweden approves wiretapping law | Law Professor tells tech conference: plans to shut down Internet already on deck

Marc Ambinder, The Atlantic
June 11, 2010

At the beginning of the year, the chances that some sort of cybersecurity legislation would reach the president’s desk by the end of 2010 were remote. But as of today, there are a half dozen such bills circulating, and the sense of urgency is there, thanks to a huge and largely unremarked upon public lobbying campaign by the defense industry that may or may not comport with the actual level of threat. I don’t mean that as a snide aside; I just don’t know how vulnerable we are at this moment.

Today, the Senate Homeland Security and Government Affairs Committee unveils its legislation, which would create a Senate-confirmable cyber director in the executive office of the president and imbue him or her with significant emergency powers.

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That’s an earth-shaking admission, it moves this debate into an entirely new arena. In 2009 and 2010, Bilderberg was dragged from the shadows entire, so now we can have the debate on whether this ought to be happening instead of debating whether it is or not. Begin the dialogue in your circle by telling someone.

Related: Bilderberg Wants Americans Disarmed And Dependent On Government | Bilderberg 2010 Participant List Released | Bilderberg Agenda Revealed: Globalists In Crisis, Supportive Of Attack On Iran | Bilderberg 2010: Why the protesters are your very best friend | Bilderberg 2010: The security lockdown begins | Secretive Bilderberg Club ready for protests | Dublin Trilateral attendees let slip need for world govt, war with Iran, Bilderberg oversight | Tucker: Bilderberg To Meet in Spain, Prolong Global Financial Recession For Another Year

Paul Joseph Watson, PrisonPlanet.com
June 7, 2010

Despite debunkers attempting to claim otherwise, Bilderberg illegally sets the consensus on policies that are subsequently enacted worldwide

Former NATO Secretary-General and Bilderberg member Willy Claes has confounded claims by debunkers that the secret organization which met in Sitges Spain over the last few days does not set policy, admitting during a Belgian radio interview that Bilderberg attendees are mandated to implement decisions that are formulated during the annual conference of power brokers.

In a radio interview reported on by the Belgian news website www.zonnewind.be, Claes told host Koen Fillet that Bilderberg does indeed decide policy for the coming year. Claes would certainly be in a position to know, being a two-time Bilderberg attendee as well as the eighth Secretary General of NATO from 1994 until 1995.

Claes said that Bilderberg guests are normally given around 10 minutes of talk time, after which a report is compiled of their presentation.

“The participants are then obviously considered to use this report in setting their policies in the environments in which they affect,” stated Claes, according to the translated text.

The host asked Claes to repeat this astounding admission, before Claes went on to explain that no two guest are allowed to sit next to each other more than once at Bilderberg, to enable the maximum exchange of views on important subjects.

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A bank nationalization bill? While the provisions around derivatives trading certainly put a bandaid on the issue, the biggest banks are already comfortably ensconced within the halls of state power. In this journal’s opinion, they will be minimally affected by this bill, which further centralizes state power over the financial system.

Related: Goldman Sachs concedes case for restraining the big banks | US prepares to push for global capital rules | The Obama Banking Regulation: Big Banks Are Too Politically Connected to Fail | Obama scolds Wall Street for fighting reform, pushes new regulation package | Obama urges Senate to hand total oversight of financial sector to Federal Reserve, eliminate ‘Reserve’ part | Bernanke Pushes to Keep Regulation Power as Some Senators Waver | The Federal Reserve as Giant Counterfeiter | Bankers unite against Barack Obama and Gordon Brown in call for world regulation | Banks find gaping loophole in Obama financial reforms | Obama talking tough with banks | Wall Street’s leading bankers admit: we made mistakes | Obama ponders bank transaction levy to recoup bailout shortfalls | Explosive Leaked Emails Expose Treasury Secretary Geithner’s Deception in ‘Backdoor Bailout’ | US Bankers Get $4 Trillion Gift From Barney Frank | Financial reform bill passes U.S. House | Taibbi: Obama’s sellout to Wall Street creates ‘permanent bailout’ | Americans Deserve a Transparent Federal Reserve | Bernanke continues pressing for sweeping new powers for Fed | Federal Reserve Appeals Order to Disclose Emergency Bank Loans | Judge Orders Federal Reserve To Disclose Who Received Bailout Trillions | Geithner lambastes US economic watchdogs resistant to planned transfer of powers to Federal Reserve | Obama Regulatory Reform Plan Officially Establishes Banking Dictatorship In United States | Obama unveils overhaul of financial system oversight | Federal Reserve To Be Given Sweeping New Powers | Top Senate Democrat: bankers “own” the U.S. Congress | Wall Street’s Big Takeover | Geithner Said to Have Prevailed on the Bailout | Banks won’t say where U.S. bailout money going | Paulson, Bernanke defend change of plan: $700-billion now to be given directly to banks | Congress Accuses Federal Reserve Bagman Of Bailout “Bait and Switch” During Angry Hearing | U.S. government won’t use bailout fund to buy troubled assets | Behind the panic: Financial warfare over the future of global bank power | Goldman-Sachs Alumni Hold Reins of Financial System | Treasury’s Plan Would Give Fed Wide New Power | Financial ’super cop’ role for Fed

Andrew Clark, Graeme Wearden, The Guardian
May 21, 2010

US government will be handed the power to seize control of a failing bank and derivatives trading will be subject to new controls

Wall Street banks face their toughest clampdown since the Great Depression after the US Senate passed Barack Obama’s banking reform bill.

In a historic change, the US government will be handed the power to seize control of a failing bank to avoid a collapse that could threaten the financial sector. Derivatives trading will be subject to new controls, and shareholders will get a British-style “say on pay” vote on boardroom bonuses.

Howewer, some measures were dropped from the bill – including stringent conflict-of-interest rules and tighter controls on proprietary trading – after Republicans prevented these topics being voted on. And it remains unclear whether US deposit-taking banks will also be banned from engaging in proprietary trading – buying and selling using their own money rather than their clients’.

The bill is meant to reshape Wall Street and prevent a repeat of the turmoil of the last few years. It is the biggest shake-up of the sector since the 1930s. As well as forcing changes on America’s biggest banks, a consumer financial protection bureau will be introduced to police the sale of products such as mortgages and credit cards.

The passing of the bill, by 59 votes to 39, is a personal triumph for Obama – who accused the industry of attempting to stifle desperately needed reforms.

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Tireless advocate Nicholas Stern continues the push for multiple global taxes continues in the hope that at least one or more of these revenue streams opens up – which, as the Copenhagen document revealed, would necessitate the construction of additional international financial architecture to administer it. As is usually the case, this is the real point of the urgent, tearful appeals, the demonization of climate skeptics as ‘deniers’, the wholesale falsification of climate data – to loot, to funnel money into the coffers of emerging international institutions, to centralize economic power. Let’s recap some information about ‘Lord’ Nicholas Stern, shall we?

Nicholas Stern sits on the board of an intergovernmental panel on carbon capture and storage technology alongside James Wolfensohn and major international corporate interests (Chevron? Exxon? Shell? Halliburton??), and helped found the Carbon Ratings Agency. A former World Bank chief economist – that’s the World Bank, people, which has called for a world government, and which is no friend of the third world – you might say that Stern is somewhat invested in the idea of global warming. He’s Vice Chairman of the IDEAGlobal group, which is described as “… an independent, global, research organization, with its headquarters in Singapore, and subsidiaries in New York and London. IDEAGlobal Group is a leading supplier of independent and impartial advice to 50 central banks in the formation of policy and is read by financial professionals in over 1,000 dealing rooms worldwide. Of the 50 largest financial institutions as ranked by Euromoney, all but four are clients of IDEAglobal. Group companies include IDEAglobal and IDEAcarbon.” Nice Rolodex, Mr. Stern. More about his connections to the UNFCCC, GEF, IPCC and other globalist institutions invested in carbon monetization may be found here.

Related: Britain pushes for new climate talks; IMF and global taxes to figure into wealth redistribution scheme | IMF chief calls for quota-based global warming slush fund | EU considers general carbon tax | Leaked UN Documents Reveal Plan For “Green World Order” By 2012 | Davos: Global climate fund threatens aid to developing world, campaigner warns | Davos 2010: George Soros warns gold is now the ‘ultimate bubble’, calls for IMF to handle climate fund | Copenhagen Accord Establishes Global Government Framework | Canada part of Copenhagen climate deal | Final Copenhagen Text Includes Global Transaction Tax | World leaders push for climate deal | UN Chief: We Will Impose Global Governance | Copenhagen climate summit releases draft final text | IMF could fund climate adaptation: Soros | Copenhagen climate summit in disarray after ‘Danish text’ leak | Bombshell UN Climate Documents Reveal Planned “End Run” Around National Sovereignty | Canada agrees to contribute to $10-billion climate change fund | UK: Brown proposes global fund to kick-start Copenhagen climate change process | Leaked G20 Documents Shed Light on Global Carbon Tax | Everyone in Britain could be given a personal ‘carbon allowance’ | Czech President: Copenhagen to be ‘Largest tax increase in world history’ | Friends of the Earth attacks carbon trading as banker scam | Oil Companies Support Global Warming Alarmists, Not Skeptics | Al Gore’s Inconvenient Truth sequel stresses spiritual argument on climate, downgrades CO2 threat | EU agrees to pay developing countries ‘climate aid’ to pass Copenhagen | Copenhagen’s Plans for a New ‘Government’ are Scary | Copenhagen, carbon, and the global corporate agenda | Lord Nicholas Stern: The world’s future is being decided this weekend | Thatcher science adviser: Copenhagen goal is world government | German Scientists Call for ‘World Climate Bank’ | G8 Summit: Rich nations to pay green tab | US Congress Passes the 1,200-page Climate Bill that it was not allowed to read | Climate Cops To Fine “Wasteful” Homeowners & Businesses | Obama targets US public with call for climate action | Obama to stake reputation on fast-tracked climate bill | The great carbon credit con: Why are we paying the Third World to poison its environment? | Ontario unveils cap-and-trade legislation | Economic stabilization may rely on carbon economy, economist says | Climate panel presses for federal cap-and-trade system | NRTEE Carbon Market Panel is ‘Round Table on Socialist Planning’ | Obama, Gore, tied to Chicago carbon exchange | U.N. ‘Climate Change’ Plan Would Likely Shift Trillions to Form New World Economy | U.N. Environment Head Wants Global Warming Tax | Time to emulate Roosevelt’s New Deal and create green jobs | EU calls for global carbon trading system to fight climate change

Kevin Carmichael, Globe and Mail
May 13, 2010

Add another big voice to those calling on Prime Minister Stephen Harper to talk about climate change at the Group of 20 summit in Toronto next month.

Nicholas Stern, the British economist who authored a seminal 700-page study on the economics of global warming in 2006, says the G20 has a role in achieving the “political agreement” that he believes is necessary to advance on the commitments made at the United Nations’ climate change conference in Copenhagen in December.

Among those commitments is a pledge to raise $30-billion (U.S.) over three years to help developing countries adapt “low-carbon” economic policies. Leaders promised to increase that sum to $100-billion a year by 2020, but without working out how the money will be raised or where it might come from.

The G20, which includes the world’s major economies, should play a role in answering those questions, Lord Stern said after a speech at the International Monetary Fund in Washington Wednesday evening.

“You can’t really discuss the finance on the scale that we are talking about unless the G20 is involved and involved this year,” Lord Stern, a professor at the London School of Economics and a former advisory to the British government, said in response to my question. “It is very important that [the G20] looks at it and looks at it in a welcoming way.”

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