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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While we must admire Mr. Corcoran’s optimism, there is reason to fear it may be dashed all too soon – there is always some new war, some new pretext for globalizing treaties waiting around the corner. COP 16 (Mexico) and the Seoul G20 are both scheduled for November this year. Certainly the globalist agenda ius on its heels, and reporting from the Bilderberg group this year affirms this – but as the saying goes, the price of freedom is eternal vigilance. And though the gridlock of the $1.2 billion G20 summit deserves a cheer, our vigilance has been sorely lacking of late.

Related: How will democracy fare under the G20’s new world order? | Blame Canada: How Paul Martin, Larry Summers sketched out G20 new world order | G20 agenda named as “global government” by thinktank, Toronto summit set to sit on hands | Harper calls for global economic governance, lauds G20 as ruling forum | Terence Corcoran: The rise of global statism | For more, see the G20 Coverage page feature

Terence Corcoran, The Financial Post
June 27, 2010

Global governance, one of the drearier hallucinations of statist think tanks and back-room bureaucrats – and the phantasmagorial nightmare of anti-capitalist black-clad ideological crazies – crashed into the great wall of national realities at the G8 and G20 Toronto summits and went up in smoke. But that does not make the Toronto summits a failure. What still stands tall in the world economy and in global politics – as it should – is national sovereignty.

The governance camp will try to scrounge fragments of globalist achievement out of the official verbal and rhetorical shambles generated in the final communiques and closing comments of the Toronto summit leaders. But there is little in the end that could be reassembled into a coherent statement of collective action. Prime Minister Stephen Harper, host of the summits, tried on Sunday to claim summit unity on the basis that the summits established a “framework” for common cause and policy convergence.

But in fact the Toronto summits represent a near total collapse of efforts to create some kind of overarching centre of global economic power. Despite repeated reference to strong collective commitments to international cooperation, sustainable development and macroeconomic co-ordination, the G8/G20 separately and jointly agreed to go their own ways and avoid collective action as much as possible.

On everything from deficit reduction to climate change, from financial regulation to trade, foreign aid, currencies and Afghanistan, the G20 ultimately marched off in 20 separate directions.

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The New World Order is not “a new and progressive era of international cooperation”, as Gordon Brown would have us believe. It heralds instead the degradation of national sovereignty and the takeover of nation states by corrupt global banking and multinational corporate interests. (Which, by the way, has nothing to do with free market capitalism). It’s only now, after decades in which people might have been having this discussion, but were instead steered firmly away through media suppression and derision of that topic only crazy people and conspiracy theorists talked about – it’s only now that it’s ready for launch that the new world order is announced calmly as a fait accompli. You’re living in the twilight of Western democracy. Teach your children well. And remember this time.

Related: Blame Canada: How Paul Martin, Larry Summers sketched out G20 new world order | For more, see the G20 Coverage page feature

Olivia Ward, Toronto Star
June 19, 2010

The club that shapes the world’s economy has grown to include many less-democratic countries that have, however, economic clout

Close your eyes and name the G20 countries.

Can’t? Then you’ll be right up there with the majority of Canadians scratching their heads over just who is coming to that multi-million-dollar dinner in Toronto next week, and why we should care.

For some the G20 is just a bigger group of rich guys than the G8. For others, a gang of up-and-comers with an uncertain claim to fame.

But for all its little-understood qualities, the G20 is the much-heralded New World Order: the world’s economic steering committee. The A-list of countries whose calls are always returned.

Among them, they produce 85 per cent of the world’s gross national product, dominate 80 per cent of trade, and represent two-thirds of global population, spread through every region. But beyond economics, they are also shaping the political landscape of the future.

For some, that’s a good thing.

The G20 grew out of an informal meeting of finance ministers from wealthy countries that morphed into the G7, added Russia, and became the G8. But the 2008 global financial meltdown prompted G8 leaders to bring in reinforcements from emerging countries that wielded economic weight, and it has rapidly become an institution.

“I think the New World Order is emerging, and with it the foundations of a new and progressive era of international co-operation,” declared then-British prime minister Gordon Brown at the G20 meeting last year.

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Lyubov Pronina, Lucian Kim, Bloomberg
June 18, 2010

Russia will help lead efforts to recast the global economic hierarchy as the world emerges from the financial crisis, President Dmitry Medvedev said.

“We really live at a unique time, and we should use it to build a modern, prosperous and strong Russia, a Russia that will be a co-founder of the new world economic order,” Medvedev said at the annual St. Petersburg International Economic Forum today.

Russia will use tax incentives and other free-market economic policies to turn the country into a destination for innovators from around the world, Medvedev told an audience including Citigroup Inc. Chief Executive Officer Vikram Pandit and French Finance Minister Christine Lagarde.

Medvedev, in the third year of his presidency, is promoting modernization to transform Russia from an oil-and-gas economy into a magnet for high technology. Its reliance on natural resources exacerbated the steepest contraction among major emerging markets last year, when the economy shrank a record 7.9 percent.

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Whilst we’re talking about global steering committees, a term Martin has used to describe his vision for the G20, we should bring up the fact that Martin has been an attendee at the Bilderberg group as well. That’s a connection this article should have made, but missed. Refer also to this article by Terence Corcoran which links to a study outlining some of the genetic connections between The League of Nations and Canadian globalist academics. Now there’s a thesis topic for some aspirant at the Munk schools. (We’ve done half your research, ssshh, don’t tell anyone). This future scholar may also want to take note of the fact that Larry Summers had a pivotal role to play in the deregulation of derivatives in the Clinton administration – a move which contributed materially to the CDS derivative-driven credit crisis of 2008 and the billions of bailout funds funnelled to the banks. He’s a former head of the World Bank. And now as head of the National Economic Council, he’s one of Obama’s lead economic advisors. Oh, we’re in good hands.

Related: Paul Martin prescribes international regulatory body for ailing fiat economies | Press for Truth confronts Paul Martin on Bilderberg and the SPP | Paul Martin calls for ‘global solution’ | Paul Martin promoting a new League of Nations on the road | For more on the G20, see the G20 Coverage page feature.

John Ibbitson and Tara Perkins, The Globe and Mail
June 18, 2010

Paul Martin sat in Lawrence Summers’ spacious office in the Greek-columned U.S. Treasury building in Washington, searching in vain for a piece of paper. With none in sight, the two men grabbed a brown manila envelope, put it on the table between them, and began sketching the framework of a new world order.

It was April 27, 1999. For the past five years, the global economy had shuddered under a string of massive debt defaults — first in Mexico, and then in Southeast Asia and Russia.

In each case, Western leaders and bankers responded by prescribing harsh fixes, throwing one developing economy after another into recession.

As crisis followed crisis, Mr. Martin, then Canada’s finance minister, became convinced that major developing nations had to be given a voice — not just an ultimatum — when it came to discussing their place in the global economy. But in the capitals of Europe and the corridors of Washington, the answer was always the same: It’s our club, and there are no vacancies.

Or at least it was the same answer until that April day when Mr. Martin visited Mr. Summers, then Bill Clinton’s nominee for treasury secretary, to press his case. He argued that they couldn’t keep imposing solutions on developing countries. The G7 had to be expanded — at least at the finance-ministers’ level.

Mr. Summers quickly agreed. But that was the simple part. Much thornier was the issue of who would be admitted to the club.

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It’s baaack… To recap briefly: any global bank levy would centralize economic control in the hands of the IMF, swell the power of global central banks and their affiliates – (eg; Goldman Sachs, JP Morgan) whose alumni populate the halls of the Federal Reserve and other central banks worldwide – and work to the detriment of smaller regional banks which are for the most part innocent of causing the financial crisis. Without the kind of political cover afforded by friends in higher places, they’re sitting ducks for merger and consolidation. If this happens, we won’t be sticking it to the banks, we’ll be capitulating to them. For more, see the G20 Coverage page feature.

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Jan Strupczewski, Reuters
June 17, 2010

European leaders prepared to go it alone on levies if no consensus adopted at next week’s summit in Toronto

Europe will call for imposing a transaction tax on financial institutions at the G20 summit next week as well as a levy on banks to help pay for the costs of the crisis that started in the banking sector.

Leaders of the 20 biggest developed and developing economies meet on June 26-27 in Toronto.

“In the G20 we will … propose to explore and to develop the introduction of a financial transaction tax,” European Union President Herman Van Rompuy told a news conference after a meeting of leaders of the 27 EU countries.

The EU will also push for a global levy on financial institutions.

“The EU should lead efforts to set a global approach for introducing a levy on financial institutions with a view to maintaining a worldwide level playing field and will strongly defend this position with its G20 partners,” EU leaders said in a statement after the meeting.

Even the Europeans have yet to decide the details of any levy, such as its size or how the money would be used. The European Commission and EU finance ministers will work out such details by October.

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It took a little bit of digging (the study was actually released a few days ago) but here is the study Corcoran mentions, released by the U of W’s Centre for International Governance Innovation, an institution funded by Jim Balsillie of RIM. Longtime readers may recall that Balsillie was credited in 2007 with setting up Canada’s version of the CFR at the U of T’s Munk Centre. (Jump into the thread on mushrooming ‘International Governance’ schools here) The report is entitled The Financial Stability Board: An Effective Fourth Pillar of Global Economic Governance?. Here is the passage referred to, from the first essay of the report by Louis W. Pauly, a Canada Research Chair in political science and former IMF staffer, The entire essay, six pages or so, illuminates the historical connections tying together the League of Nations, the IMF, Bretton Woods, and the economic theory of Keynes as driving the globalist’s dream. Pauly advocates for the IMF as the global body of economic surveillance (a developing trend we’ve been covering in this journal for some time), expresses doubts that nations can cooperate without such a body, and goes on conclude that:

“…surely we must have more ambitious political objectives. For some years now, international economists, economic geographers and political scientists have tried to put an optimistic spin on the notion that “networked governance” can be appropriate for an integrating global economy. In the wake of the recent financial crisis, the term begins to sound like “no government, except the national one.” I doubt that is adequate, especially in a world where the imperfect substitute for global government since 1945, the United States, may be increasingly reluctant to play that role. Rasminsky once said to me, “At the League, we were expected to catch fish, but we had no bait.” We do not need to re-learn our history lessons the hard way. In the wake of the crisis of 2008, it is time for some serious fishing. We should not shy away from naming the big fish honestly. It is global government, including deep, binding, and well-staffed arrangements for cross-national fiscal and monetary burden-sharing adequate to sustain integrating financial markets. If we really cannot imagine the bait that will help us catch it, then we should abandon the dream of global markets. And since the dream was originally dreamt in response to military insecurity, we must then not flinch at the consequent challenge of imagining feasible alternatives at this most basic level of world order. If we are not that brave, then it is far preferable to return seriously to the hard work of realizing the dream. We may then discover that Polak, Gold, and Rasminsky were just ahead of their time.”

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Terence Corcoran, The Financial Post
June 8, 2010

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James P. Tucker, American Free Press
May 12, 2010

DUBLIN, Ireland–Trilateral Commission (TC) members, angry over their failure to establish a world government and the economic crisis they generated, called for war with Iran when they gathered behind closed doors here in Dublin, Ireland May 7-10.

War plans were revealed by Mikhail Slobodovsici, a chief adviser to the Russian leadership, when he strolled off the grounds of the Four Seasons resort, where TC had hunkered down behind armed guards and locked doors. He thought he was talking to a TC colleague when speaking with Alan Keenan, who operates the web site WeAreChange.org.

“We are deciding the future of the world,” Slobodovsici said. “We need a world government,” he said, but, referring to Iran, said “we need to get rid of them.”

Clearly, it was a TC war call. Many of the TC’s billionaires and millionaires are heavily invested in manufacturing, and wars produce huge profits.

Suddenly, Slobodovsici noticed that Keenan’s nametag was different from the TC label and said: “I can’t talk–we operate under Chatham House rules.”

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Steve Watson, PrisonPlanet.com
May 13, 2010

Federalized union touted by Bilderberg’s finest

The European Commission, the executive body of the European Union, has revealed a set of proposals to fully integrate the economies of the EU member states and centralize power under a federalized union.

Following monday’s announcement of a €750bn EU bailout fund, the EC head and Bilderberg darling José Manuel Barroso announced details of the plan for further European integration.

“Europe has dealt with the immediate emergency but we must also show we are serious about the more fundamental reforms needed. We must now get to the root of the problem.” Barroso stated at a press conference in Brussels.

Currently, the European Central Bank sets interest rates for the euro zone, while national governments set their own fiscal and economic policies. It is this imbalance, which was enforced upon member states with the creation of the EU and a single European currency, that Barroso and his ilk say has led to the escalation of the financial crisis in Europe.

The new proposals centre on three main initiatives.

Firstly the national budgets of member states would be opened up to supervision, scrutiny and pressure from all other EU nations operating under the central body.

Secondly, there would be increased monitoring of macroeconomic imbalances and “competitiveness” between countries.

Thirdly, the proposals call for the creation of a European Monetary Fund or EMF — a permanent bailout mechanism described by the EU’s monetary affairs commissioner Olli Rehn as “a last-resort mechanism of financial assistance in the form of loans, with interest rates that would be so unattractive that no one would want to use it voluntarily.”

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“…to the extent we now have a truly globalized economy, we need some semblance of global governance,” said Harper. “That’s what the G20 is so if the G20 doesn’t work, something else will have to fill that gap. We’re not talking about world government. No one is prepared to surrender their sovereignty to the G20 or some other body but what they are going to see in practice is that we are going to need to co-ordinate our policies to create stability for all of us.” But this is just doublespeak. Obviously economic policy is one aspect of government, Harper – so if that’s uploaded to a trans-national body, then you’ve created one of the necessary modules of a global government. This is how the EU started as well, with planning stretching back to Bilderberg meetings in the 1950s. It was initially represented as an economic community, and now it has a full blown regional government. In short, Harper has demonstrated that he isn’t to be trusted to be fully forthcoming with Canadians. Why should we take him at his word on this when he’s simply added his voice to the chorus calling for global ‘governance’? Flaherty has been calling for IMF surveillance of national economies since 2008, and the globalist economic clique has been calling for a ‘new world order’ and the centralization of banking power from before the derivatives crash even happened, so you can see there’s a bigger agenda at work here, and you’re getting played.

Related: US prepares to push for global capital rules | Flaherty wins delay in decision on global bank tax at interim G20 meeting | Global bank tax urged by IMF | Flaherty stands firm against new bank tax | G20 sounds warning over lack of progress on global regulation | Banking reforms urgent, Harper says at G20 sherpas’ meeting | G20 ’sherpas’ meet with IMF, World Bank on Ottawa Gordon Brown’s plan for global bank tax ‘a step closer’ | Global Bank Insurance Levy Wins Support over Transaction Tax at Davos | Harper urges G20 to follow economic accords | Bankers unite against Barack Obama and Gordon Brown in call for world regulation | EU urged to adopt bank supertax | Obama ponders bank transaction levy to recoup bailout shortfalls | Final Copenhagen Text Includes Global Transaction Tax | EU calls for tax on bank transactions | UK: Brown takes campaign for Tobin tax to Commonwealth | UK: Brown proposes global fund to kick-start Copenhagen climate change process | Flaherty, USA say no to global financial tax, yes to continued ’stimulus’ at G20 | Bernanke continues pressing for sweeping new powers for Fed | IMF chief wants global bank tax | G20 nations meet as protests flare on issue of international banking regulation | A Bigger, Bolder Role Is Imagined For the IMF | UK PM reveals G20 plan to boost IMF by $1 trillion, hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | Flaherty calls for mandatory IMF surveillance | 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 | IMF prescribes state regulation of ‘global financial order’ | Bilderberg Seeks Bank Centralization Agenda | Banks face “new world order,” consolidation: report

David Akin, CanWest News
April 29, 2010

GATINEAU, Que. – Prime Minister Stephen Harper said Thursday he will push the world’s leading industrialized nations to follow through on commitments to global financial reform and a return to balanced budgets but rejected calls, increasingly coming from Europe, to establish a tax on the world’s largest financial institutions.

He also said he holds out little hope that nearly decade-old negotiations to reduce global trade barriers through the World Trade Organization – the so-called Doha round of trade talks – would make any progress this year.

Canada is chair of the G8 this year and is co-chair of the G20 and, as a result, will play an influential role in setting the agenda for discussions of world leaders when they gather in southern Ontario this summer.

“June’s discussion must be less about striking new agreements than establishing accountability for existing ones,” Harper said at an international conference here hosted by the Canadian Chamber of Commerce.

Expanding on ideas he’s talked about at other international gatherings, such as the World Economic Forum in Davos, Switzerland, earlier this year, Harper said G20 nations must provide a clear road map to a return to balanced budgets, the elimination of restrictive foreign trade practices and some new forms [of] financial regulation.

“Understandably, there have been calls for rigourous, even punitive measures to be taken against those responsible,” Harper said. “You’ll know one refrain is a global bank tax. You will also know that Canada is not part of that chorus. Just as you can’t tax an economy into prosperity, you can’t tax the financial sector into stability.”

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