Putting Humpty Dumpty together
The New World Order takeover cracked apart because Wall Street bankers issued bad debt products to banks around the world. Each leading nation at the G20 meeting had a slightly different agenda, but all were united by the desire to restrict further exploitation by Wall Street bankers. The U.S. government has propped up AIG to facilitate payoffs to European banks forced to take large writedowns in assets. Business Week has details on these payments to foreign banks.
China and Russia agreed that a new world currency should replace the dollar’s dominance. China has been busy negotiating credit agreements based in yuan with individual countries. The new world currency is inevitable. It is a long-term goal of the New World Order takeover, and President Obama will not resist. China also wanted greater representation on the IMF board. The G20 agreed to revisit this issue in 2011. Nice reporting on the history of the global currency initiative by Andrew Marshall at Global Research. Throughout history tyrants have replaced local currencies with currencies of empire to hobble the ability of cities and regions to control their own economic destiny according to their needs.
Germany and France were fairly united as economic nationalists opposing further drains on their Treasuries in the form of “stimulus” or deficit spending. Germany and Sweden do not want to bail out failing Eastern European banks. Their proposal for an additional $500 billion or so for the International Monetary Fund designates the IMF as the lender of last resort to Europe’s troubled banks and nations. The IMF may end up propping up Ireland, Spain, Italy, and Eastern Europe.
Gordon Brown wanted a larger global “stimulus” to bail out Britain’s troubled banks. Although a genial host, Brown did not achieve his main goal at the summit. The Mail portrayed Brown as the loser at the summit as the Bank of England refused to print money and the G20 members generally refused to pony up funds for Britain’s bailout. Ireland and the UK now have the highest indebtedness to GDP ratio of the EU member nations.
As the new member of the global mafia, Barack Obama’s role was clearly laid out in advance. His job was to apologize for the Wall Street criminals and to agree to restrictions on their future activities. It is of high interest that none of the financial products, derivatives and insurance not backed up by hard assets, has been made illegal in the United States. No one has been prosecuted for their financial crimes. The looters and their enablers are part of Obama’s inner circle. Obama apologized, but not explicitly for Wall Street’s crimes. Obama’s single contribution to the G20 summit was to negotiate with Chinese Premier Hu Jintao that some offshore tax havens will be left open so that the looters can stash their profits free of taxes or oversight.
The single most important development at the G20 summit was the elevation of the Financial Stability Board to a role in oversight of banks and corporations around the world. This is called “cross border regulation,” an “early warning system” and “shared standards.” Is the IMF taking over the role of the Federal Reserve Bank as supplier of global credit? Is this a victory for globalism over the American Empire? Some see it that way, but we will be surprised if the board is able to regulate U.S. banks and corporations directly.
Conventional reporting on “Obama’s agenda” at The New Republic. Obama didn’t have an agenda. His job was to play nice and promise not to allow his crooked bankers to loot Europe again.
Danny Schechter offers criticism of the news coverage at Global Research.
James Petras has a long, two-part article on the regional economies of the world at Global Research. NWOU does not believe that globalism is dead or the economic crash is forcing national leaders to think nationally. Still less is it the end of capitalism. Petras has fallen into the error of blaming all of capitalism for the crimes of the inner cabal. Part 2 of his article is of interest.
Similar reporting on the Left from Eric Toussaint and Damien Millet.
Eric Walberg reports on Leftist demonstrations at the G20 meetings. The European Union is not in tatters. The EU is a brilliant takeover mechanism that relies on negotiations between ministers to end nationalism. The EU can survive any crisis and can default to a free trade treaty in times of opposition. NWOU was interested in the Leftist demonstrations during the summit. The sight of unprecedented security as thousands rallied across Europe reminds us that these national gangsters do not travel easily. But the Left agenda (for example, at Corporate Watch) is divided and confused. If you are going to take to the streets, have a single issue and put it in a slogan everyone can understand.
Some nice writing about the suffering of ordinary folks by Jeff Randall at the Telegraph.
Ambrose Evans-Pritchard offers an analysis from the Right. He also has missed the predatory global cabal that has been operating around the world during the last four administrations. But he is right about one point: the “surplus” (exporting) economies better find a way to restructure to local and national demand or they are going to suffer more pain.
James Keller understands that Treasury Secretary Timothy Geithner’s PPIP plan is a bad bet for U.S. taxpayers.
The hero of the G20 was Prime Minister Mirek Topolanek, who called Obama’s stimulus package the “road to hell.” The lowlight of the week was when the ghoulish George Soros offered his 2 cents worth.
Did the G20 succeed in putting the New World Order back together again? Yes, they turned the corner to what Vladimir Putin called a “many centered” world order. Markets around the world responded positively to G20 policies and signs of a bottom. President Obama promised to play nice with the other gangsters, but he didn’t take himself out of the game. It’s not just about finances, after all, it’s also about politics, and next we shall look at President Obama’s emerging foreign policy for clues about Obama’s ability to keep the U.S. Empire going abroad while imposing socialism at home.
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Excellent work. You have gained a new fan. Please keep up the good work and I look forward to more of your interesting posts.