Posted on 03/14/2009 11:32:08 PM PDT by bruinbirdman
The media coverage of the G20 finance ministers meeting this weekend was dominated by the apparent battle between those who support more fiscal stimulus and those who want to impose more regulations on the financial system.
This, we are led to believe, is the big debate facing the full G20 heads of government summit early next month: the US is pushing for a bigger global fiscal stimulus (2pc extra government spending from everyone, to be monitored by the IMF), while the continental Europeans are holding out for greater regulation. Gordon Brown is trying hard to cast himself as the broker for any apparent deal.
However, don't be fooled by all this sound and fury. The rival agendas of fiscal stimulus and regulation are both red herrings at this point in time.
The reality is much less promising, for three reasons
~snip~
The most pressing problems in 2009 are not so much global as European.
Back in the 1990s, much of east central Europe put itself on a high risk debt-fuelled growth path, egged on by Brussels. European Union accession countries were told that they could afford to import far more than they export – and that this difference would be financed by capital coming in from Western Europe. This was true, for a while, but now the crash in Eastern Europe threatens to bring down banks in Austria, Greece, Italy and other places that bet big on Hungary and its neighbours getting rich quick.
As Eastern Europe has plummeted into crisis, the West European response has been further bad advice. Countries with fixed exchange rates, such as Latvia, are told to cut wages and prices by 20-30pc, rather than devalue their currency.
Never mind that this is political suicide and bad economics. Brussels considers it better for the West European
(Excerpt) Read more at telegraph.co.uk ...
HaHa...
The IMF isn’t fit to monitor a high school study hall and certainly not qualified to monitor the world’s great economies.
Can anyone not understand this is a push for a world government/economy?
Geithner spent his life with Kissinger and the Globalists...this is the precursor to move to the destruction of the nation-state.
From some statements by foreign leaders very recently,
there are a lot of foreigners trying to save America from
0bama.
They seem to be trying to save us from ourselves.
Exactly right. It’s just that some leaders haven’t caught on yet.
When the neighbor is a duplicitous elitist jerk it is really tempting though...
Or, they are on-board. The idea of pulling down the US to the level of Kenya/Mexico/Russia is the goal...
Even though we have our issues, we are still obviously the benchmark.
Geithner is not pro-US, he’s the rep for the NWO.
America, like our oil, still has its head in the ground.
I've been talking about a revaluation of the dollar. The G-20 meeting might be just the ticket to that “free ride.”
They will devalue the currencies of every country and increase the regulations in order to stifle growth and innovation. We will all trade with each other just as before, but another few trillion units of wealth will permanently evaporate as the volumes of trade decrease. Rates of everything, including profit,will be set by fiat of the IMF. Finally, America will experience the addition of another layer of bureaucracy set in place above our own Constitutional institutions.
How long before the Global Governors turn elected leaders and Constitutional institutions into weak provincial administrators?
This sounds like the Africanization of the world.
Will someone with more education in these matters, please tell me this is totally wrong? I really develop severe headaches trying to understand this stuff.
How sweet it wold be, do nothing and take from those that do.
wold = would when my fingers work.
You might try reading this, it is history, but in plain language.
http://www.freerepublic.com/focus/news/2200394/posts?page=212#212
The difference this time is it will be on a global scale if they truly move to revalue currencies.
I am hunting for the post someone put up from the Congressional record in 1993. It is the recorded history of the discussion about this very matter and how congress has known since 1993 the US has been bankrupt. The discussion involved Trafficant(yeah...ain’t that just great) and other members of the democrats. It left me with the impression that when the SHTF, we would turn to the global currency and sacrafice our sovereignty. http://www.usavsus.info/USA-Traficant.html
It has always seemed to me that the reason for these layers of bureaucracy and institutional regulation is to set up an income stream so vast that the siphoning off of monies for the regulators can be hidden within the movement itself. The model is Africa.
The model is neoMarxist.
I think it was Lenin who said that the way to destroy the middle class was to grind them between deprivation and taxation.
This entire scenario is my biggest fear. There is no sense to it except to destroy us all and the basis of capitalism and individual freedom. It will turn America into a collapsed economy with only downward mobility. Extend the scenario to the point where there are mass demonstrations and this horrible administration will request UN peacekeepers because most of the military will not obey the administration.
I really want to believe this won’t happen.
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