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  • New (financial) World Order

    compliments of bob zoellick:

    Zoellick said that the crisis is multilayered, involving diplomatic discord over trade, climate change, and energy and agricultural prices. Against those challenges, Zoellick urged "a new multilateral network," or what he called a "steering group" of some 14 or more countries that dominate the world population, economy, carbon emissions, capital markets, and foreign assistance. He said that in addition to the G7 countries, candidates for membership might include Brazil, China, India, Mexico, Russia, Saudi Arabia, and South Africa. The G7 countries are Britain, Canada, France, Germany, Italy, Japan, and the U.S.
    He said the number of group members should not be fixed, and that they should meet regularly in person and by video conference. He called it "a Facebook for multilateral economic diplomacy."
    "We need this mechanism so that countries are not left to fail, with all the human, economic, and political consequences this entails for both them and their neighbors," Zoellick said.
    THis is diplo-code for EXTENDING dollar seignorage... hmm!

    http://www.businessweek.com/bwdaily/...106_029088.htm


    CK Liu shares an insight into Zoellick:

    The concept of "stakeholder" in the global geopolitical-economic order advanced by Robert B Zoellick, former US deputy secretary of state and now president of the World Bank, is a solicitation from the US to emerging economic powerhouses to support this Pax Americana. The device for accomplishing this neo-imperialism is a coordinated monetary policy managed by a global system of central banking, first adopted in the US in 1913 to allow a financial elite to gain monetary control of the US national economy, and after the Cold War, to allow the US as the sole remaining superpower controlled by a financial oligarchy to gain monetary control of the entire global economy.

    With the help of supranational institutions such as the International Monetary Fund and the Bank of International Settlements, the US aims to negate national economic sovereignty with globalization of unregulated trade conducted under dollar hegemony. Unregulated trade globalization in the 21st century aims to neutralize national economic sovereignty to preempt national development financed by sovereign credit. Trade through export has become the sole operative path for national economic growth in a political world order of sovereign nation states that has existed since the Treaty of Westphalia of 1648. No national domestic economy can henceforth prosper without first adding to the prosperity of US-controlled global economy denominated in dollars.
    And from good ol' wikipedia:

    Tom Barry, the policy director of the International Relations Center, has written that Zoellick "regards free trade philosophy and free trade agreements as instruments of U.S. national interests. When the principles of free trade affect U.S. short-term interests or even the interests of political constituencies, Zoellick is more a mercantilist and unilateralist than free trader or multilateralist."[21]
    Gavan McCormack has written that Zoellick used his perch as U.S. trade representative to advocate for Wall Street's policy goals abroad, as during a 2004 intervention in a key privatization issue in Japanese Prime Minister Junichiro Koizumi's re-election campaign. McCormack has written , "The office of the U.S. Trade Representative has played an active part in drafting the Japan Post privatization law. An October 2004 letter from Robert Zoellick to Japan’s Finance Minister Takenaka Heizo, tabled in the Diet on August 2, 2005, included a handwritten note from Zoellick commending Takenaka. Challenged to explain this apparent U.S. government intervention in a domestic matter, Koizumi merely expressed his satisfaction that Takenaka had been befriended by such an important figure… It is hard to overestimate the scale of the opportunity offered to U.S. and global finance capital by the privatization of the Postal Savings System."[22
    AAAAAND, from the AEI:

    http://www.aei.org/publications/filt...pub_detail.asp


    Some wonk-on-wonk action:


    But the chances that the Bushies will move in these directions -- steeped as this administration is in unilateral arrogance and laissez-faire ideology -- seem close to zero. Treasury Secretary Paul O'Neill blithely dismisses the current account deficit as a "meaningless concept." (The Economist responded that the consequences of a declining dollar would bring sleepless nights to "a Treasury secretary who knew what he was talking about.") Nor do such worries furrow the brow of U.S. Trade Representative Robert Zoellick, the administration's Doctor Pangloss. Forget about imports, says Zoellick; look how our exports are rising! His approach is akin to measuring your personal solvency by adding up the deposits in your bank account and neglecting the withdrawals.
    Most members of Congress seem equally clueless. In the heated debates over putting foreign-trade deals on a "fast track," our unsustainable trade deficit has been virtually ignored. When Sen. Byron Dorgan (D-N.D.) asked his colleagues what share of the GDP the trade deficit had to get to before they'd start to worry, the answer was dumb silence.
    http://www.epi.org/content.cfm/webfe...falling_dollar
    Conclusion: Welcome to World Government, my friends!
    Last edited by phirang; 10-07-08, 08:46 PM.

  • #2
    Re: New (financial) World Order

    If the core unit of account is mush, and will become yet crappier in it's reflection of USA Inc's balance of payments, the entire scheme's future is mush as well. Like mixing plaster of paris with your cement, to build a tall edifice.

    Comment


    • #3
      Re: New (financial) World Order

      Originally posted by Lukester View Post
      If the core unit of account is mush, and will become yet crappier in it's reflection of USA Inc's balance of payments, the entire scheme's future is mush as well. Like mixing plaster of paris with your cement, to build a tall edifice.

      unfortunately, we buy real stuff with mush.

      and i'll stick take mush, since the mush is managed by very, very clever and frankly nasty mushmiesters.

      Comment


      • #4
        Re: New (financial) World Order

        I heard this G-14 talk everywhere


        France wants a G-14
        29 September 2008 - Issue : 801



        French President Nicolas Sarkozy has called for adding new members to the exclusive G-8 and the UN Security Council so they can more effectively deal with problems that continue to defy efforts by Western governments. Sarkozy said in an address to the UN General Assembly that the UN Security Council, currently with 15 members, and the world’s group of eight leading industrialised nations (G-8) should be enlarged to reflect demands of emerging countries. The G-8 in particular could become the G-14, with new members like China, India, Mexico, South Africa and Brazil, the emerging economic powers among developing countries. The group currently is comprised of the United States, Germany, Italy, France, Canada, Japan, Britain and Russia. Though Russia is a member of the G-8, its relations with the West were stressed over its invasion of Georgia in August and US Republican presidential candidate John McCain had even called for ousting the Russians from the G-8. Italy will host next year’s G-8 summit and will propose a major reform to the group, Sarkozy said. He said the world is still governed by 20th- Century institutions in a 21st-Century world. “Let today’s major powers and the powers of tomorrow unite to shoulder together the responsibilities their influence gives them in world affairs,” Sarkozy said in an address to the UN General Assembly. “To all those who are hesitant, I wish to say that enlarging the Security Council and the G-8 is not just a matter of fairness, it is also the necessary condition for being able to act effectively,” he said.

        http://www.neurope.eu/articles/89971.php

        Comment


        • #5
          Re: New (financial) World Order

          "He said that in addition to the G7 countries, candidates for membership might include Brazil, China, India, Mexico, Russia, Saudi Arabia, and South Africa. The G7 countries are Britain, Canada, France, Germany, Italy, Japan, and the U.S."


          Blimey!!!! Don't tell our PM Kevin Rudd!!!! He thinks he is leading the world on all these fronts!!

          Comment


          • #6
            Re: New (financial) World Order

            Originally posted by D-Mack View Post
            I heard this G-14 talk everywhere
            France wants a G-14
            29 September 2008 - Issue : 801



            French President Nicolas Sarkozy has called for adding new members to the exclusive G-8 and the UN Security Council so they can more effectively deal with problems that continue to defy efforts by Western governments. Sarkozy said in an address to the UN General Assembly that the UN Security Council, currently with 15 members, and the world’s group of eight leading industrialised nations (G-8) should be enlarged to reflect demands of emerging countries. The G-8 in particular could become the G-14, with new members like China, India, Mexico, South Africa and Brazil, the emerging economic powers among developing countries. The group currently is comprised of the United States, Germany, Italy, France, Canada, Japan, Britain and Russia. Though Russia is a member of the G-8, its relations with the West were stressed over its invasion of Georgia in August and US Republican presidential candidate John McCain had even called for ousting the Russians from the G-8. Italy will host next year’s G-8 summit and will propose a major reform to the group, Sarkozy said. He said the world is still governed by 20th- Century institutions in a 21st-Century world. “Let today’s major powers and the powers of tomorrow unite to shoulder together the responsibilities their influence gives them in world affairs,” Sarkozy said in an address to the UN General Assembly. “To all those who are hesitant, I wish to say that enlarging the Security Council and the G-8 is not just a matter of fairness, it is also the necessary condition for being able to act effectively,” he said.

            http://www.neurope.eu/articles/89971.php
            Why is Sarko a friend of the US? ahh ha!

            Daddy Warbucks bought him his italian whore wife.

            THe older I get, the more I admire Mao and condone Stalin...

            Comment


            • #7
              Re: New (financial) World Order

              Originally posted by The Outback Oracle View Post
              "He said that in addition to the G7 countries, candidates for membership might include Brazil, China, India, Mexico, Russia, Saudi Arabia, and South Africa. The G7 countries are Britain, Canada, France, Germany, Italy, Japan, and the U.S."


              Blimey!!!! Don't tell our PM Kevin Rudd!!!! He thinks he is leading the world on all these fronts!!
              Hey, one thing all these new countries have in common:

              they all have lots of dollar reserves!!!

              Ahhh... yes!

              Comment


              • #8
                Re: New (financial) World Order

                The European faction has been talking about this since the U.N. meeting.

                Have you all heard anything that amounts to a response from the BRICs? Be it "f' off" or otherwise?

                Comment


                • #9
                  Re: New (financial) World Order

                  Originally posted by phirang View Post
                  Why is Sarko a friend of the US? ahh ha!

                  Daddy Warbucks bought him his italian whore wife.
                  You are wrong. It was Brother Warbucks the one who bought him a a respectable italian wife (his bro is on the Carlyle board and good friend with HB ;) .. this is not a joke)

                  Originally posted by phirang View Post
                  Hey, one thing all these new countries have in common:

                  they all have lots of dollar reserves!!!

                  Ahhh... yes!
                  But only the Fed can print the dollars ... they are more equal than the other equals.

                  You are right. This is global financial seignorage ... this is the New World Order!

                  We are F**KED!!!!

                  Comment


                  • #10
                    Re: New (financial) World Order

                    And here is the first sign of a World Central Bank for those who doubted it:

                    http://www.bloomberg.com/apps/news?p...r_E&refer=asia

                    The Fed, ECB, Bank of England, Bank of Canada and Sweden's Riksbank each cut their benchmark rates by half a percentage point. The Bank of Japan, which didn't participate in the move, said it supported the action. Switzerland also took part. Separately, China's central bank lowered its key one-year lending rate by 0.27 percentage point.
                    Phirang was spot on.

                    Comment


                    • #11
                      Re: New (financial) World Order

                      Originally posted by babbittd View Post
                      The European faction has been talking about this since the U.N. meeting.

                      Have you all heard anything that amounts to a response from the BRICs? Be it "f' off" or otherwise?
                      Russia is trying to tell the US to fk off, but the real reason behind their Iceland incursion is to find a new safe-haven to stash their kleptocratic trophies.

                      Anyone who knows russians know that they don't take their military too seriously... I recall one of my friends saying that during the 80's, he and his friends used to joke about how shitty their military was.

                      What IS interesting is that it seems China, being the practical nation she is, is taking a middle path: they'll commit a few hundred bill of their 1.8T reserves to a US bailout and are also providing huge incentives and an expanded safety net domesticaly to compel their people to spend.

                      Comment


                      • #12
                        Re: New (financial) World Order

                        From a NWO sycophant... note that he's from the Peterson Institute, a Federal Reserve apparatchik.

                        A master plan for China to bail out America

                        By Arvind Subramanian
                        Published: October 7 2008 19:34 | Last updated: October 7 2008 19:34

                        The financial rescue plan passed by the US Congress is viewed as flawed but necessary to head off panic in financial markets and loss of confidence in the economy. It seems a holding operation, a Plan C or D that might need augmentation via a Plan A.
                        A vital component of a Plan A is likely to be additional money. For one thing, there is suspicion that the amount of toxic assets is considerably greater than the rescue plan provides for. For another, more money may be required to address the problem in the housing market by providing relief to subprime and marginal borrowers. And finally, further fiscal stimulus could become necessary if recessionary forces take hold.
                        Where will this additional money – perhaps as much as another $500bn – come from? The US taxpayer is wary. Joe Six-Pack has ponied up a lot already, and done so with no great confidence that the money was for a worthwhile cause or that it will be well spent.
                        Enter China. Ken Rogoff of Harvard cheekily characterised the vast Chinese accumulation of US Treasury bonds over the past five years as the biggest foreign assistance programme in history. Why not push that further? Here is a thought experiment.
                        The Chinese government could offer to lend up to $500bn (from its current stock of $1,800bn) to the US government for the rescue of its financial sector. Its previous assistance – buying US bonds – was indirect and unconditional. Not so in this case.
                        China’s loan offer would be direct to the US government to be spent in the current financial crisis. More important, it would come with strings attached. Tied aid, the preferred mode of operation of western donors since the postwar period, would now be embraced by China.
                        What would be the nature of the strings – or “conditionality” as the US Treasury, a longtime practitioner of this art, has called it? Conditionality as imposed by the World Bank and International Monetary Fund was underpinned by an ideology that favoured markets and globalisation. But there was also an assumption that either borrowing third world governments did not understand their benefits or the reformers there needed a “spoonful of sugar” to help overcome any internal opposition.
                        China would impose two conditions. First, it would declare that the offer of money was conditional on the US government’s adopting a particular approach to rescuing the banks, namely to favour in the next round the use of government money to recapitalise the banks. Europe has been using this approach and evidence suggests it is the most effective way of dealing with large-scale financial crises.
                        The US government – like third world governments in the past – has been unable to adopt the most efficient course of action. This stems from an ideological obsession against “socialising” banks or because inducement is necessary to overcome any domestic opposition to it.
                        The second condition would relate to “social safety nets”, which had become standard embellishments to World Bank/IMF adjustment programmes. China would stipulate that monies be devoted to cushioning the impact on vulnerable homeowners, so that they would not be forced into forgoing the American dream of home ownership. Chinese conditionality on this front would achieve an outcome that several economists on the left and right have argued for on grounds of fairness, and also to address the fundamental problem in the housing market.
                        For China, this offer of help would have three virtues. First, it would be riding to the rescue of a situation partly created by its own policies of undervalued exchange rates, which led to lax global liquidity conditions. Second, its economic interest would be served because successful US efforts at rescuing its financial sector could help avert an economic downturn, protecting China’s exports, its growth engine.
                        Perhaps most important, it would seal China’s status as a responsible superpower willing to deploy its economic resources for the sake of protecting the world economy. And if the means for achieving that are by providing the current hegemon with the largest aid package the world has ever seen with a healthy dose of sensible conditionality, well, what could be more statesmanlike than that?
                        The writer is senior fellow, Peterson Institute for International Economics and Center for Global Development, and senior research professor, Johns Hopkins University


                        Comment


                        • #13
                          Re: New (financial) World Order

                          ... and in this corner, a non-NWO whore:

                          An Asia bond could save us from the dollar

                          By Thaksin Shinawatra
                          Published: October 6 2008 19:37 | Last updated: October 6 2008 19:37

                          Asia has an opportunity to save itself, and the world economy, from the crushing excesses of Wall Street. China and Japan, with other Asian countries holding substantial surplus reserves, should act now to create an Asia bond to contain the fallout from a weak dollar.
                          I hope my US friends will not see this as an ungrateful act of abandoning a ship in trouble. On the contrary, my plan will keep the ship in service, as it is repaired. This is the best way for countries that have benefited from the American century to repay their debt.
                          The prosperity in Asia – created by US investment and trade – has spawned problems for the US. East Asia’s current account surpluses have averaged $400bn over the past decade, while the US current account deficit runs at an annual average of $800bn . Asian countries, other than Japan, accumulated the surpluses largely by supplying cheap goods and services to the US. They can no longer rely on this one major market given that America’s ability to sustain consumer spending is severely curtailed. Having parked most of their surpluses in the currency that was most convertible – the dollar – Asian countries face the prospect of losing as much as the country that issued the currency. Most of Asia’s sovereign surpluses are in US dollar-denominated equity and notes and Treasury bills. Is there a way to protect the value of these as the US economy finds its feet? Asia’s reserves could be turned into Asia bonds that, without losing their value, could be used to stimulate investment and trade in Asia.
                          An Asia bond would not be a self-centred zero-sum game. It could offer an opportunity for wealth creation across the world. Three billion Asians want their governments to invest their hard-earned surpluses in tangible productive capacity that they can see rather than playing with paper investments, such as esoteric derivatives.
                          The bond will be denominated in, shall we say, global dollars or “globars” (if you like the allusion to the shiny metal bars that were once the universal standard currency). The International Monetary Fund could play a consultative or managerial role in maintaining the value of this global or offshore dollar while the national currency of the US settles down to a level that suits its economic needs.
                          What happens if the new US administration is not farsighted enough to agree to a separate standard for external dollars? Asian governments could still issue these bonds incrementally as they accumulate new surpluses. China, Japan, Korea, Singapore and Thailand could agree to pool some of their reserves in a certain ratio into a basket of currencies to issue a bond. The return on this bond will be the same or higher than those on US Treasury bills as the issuers of the bond have a better ability to pay than the US government.
                          The dilemma for investors is judging political risks in Asia. The Taliban will continue in Afghanistan and Pakistan but these countries’ role in issuing and managing the Asia bond will be nominal. Another poison gas explosion in the Japanese underground will not undermine Japan’s capacity to honour its commitments. Risk is relative. I would rather bet on China’s authorities – who ignored the prediction offered 18 months ago by Hank Paulson, the US Treasury secretary, that they risked trillions of dollars in lost economic potential unless they freed their capital markets. That seems wiser than praying to God that the US soon finds a credible model of economic growth and for regulation of financial institutions.
                          To those familiar with bond markets, this may not seem a revolutionary proposal. It is not. A number of Asian governments issue bonds in their own currencies. Their quality and performance vary. Asian bond returns, taken in conjunction with their volatility, compare unfavourably with their US Treasury counterparts, market by market. However, an aggregate of Asian bonds gives a more positive picture. Part of the problem is the historical perception, perpetuated by rating agencies, that Asian countries are all borrowers, just as the US has become. Now, some of these countries are there to lend. It is time they reaped the premium that is theirs as lenders. The value of their loans will be better protected if they take collective decisions.
                          Their collective bond could be traded in Tokyo, Singapore and Hong Kong. This bond would contribute to the development of a healthy capital market in the region that can remain stable while the US works its way through its financial crises. The greatest benefit would be that Asia’s surpluses will be recycled into productive assets in Asia.
                          The writer is the former prime minister of Thailand

                          Comment


                          • #14
                            Re: New (financial) World Order

                            Originally posted by phirang View Post
                            unfortunately, we buy real stuff with mush.

                            and i'll stick take mush, since the mush is managed by very, very clever and frankly nasty mushmiesters.
                            "Right Now" seems to be missing in your first sentance

                            Comment


                            • #15
                              Re: New (financial) World Order

                              Originally posted by $#* View Post
                              You are wrong. It was Brother Warbucks the one who bought him a a respectable italian wife (his bro is on the Carlyle board and good friend with HB ;) .. this is not a joke)


                              But only the Fed can print the dollars ... they are more equal than the other equals.

                              You are right. This is global financial seignorage ... this is the New World Order!

                              We are F**KED!!!!
                              No, we are not F**KED, the dollar has to survive for us to be F**KED.
                              The Dollar is dead soon, again don't like to time constrain my positions.

                              I'm sure gold rubles and golden dinars would golden/silver yaun will all compete well with palladium/gold/silver/platinum dollars. This is true capatilism founded on sound money. That's good in my book, not bad.

                              Just in case you doubt me, the first country that plays the "metalic currency card" is the forcing function. AND, He who plays it first, gains the most. SO my bet is we "stupid americans" are going to lay waste to the FIAT system before anyone else does.

                              Hudson is right, we play for our own financial intrests and screw everyone else in the process. So we are right on track. I DON'T think we will NOT ACT in a manner that is finacially adventageous to us as americans.

                              Everyone take a vallium and call me in 12 months.

                              P.S. If you are renting right now, GO BUY A HOUSE, yes NOW!

                              Comment

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