The theory of "free trade", appearing in the 18th century, was initially formulated to prevent the Dutch from closing their colonial empire to English commerce. It served as the political rationale for British colonial expansion, imposing an international division of labor that revealed itself to be much more effective for pillaging resources than the colonial system itself.
In 1941, the Anglo-Saxons devised, as an aim of the war, a shift from the prevailing mode of colonial exploitation to that of unequal exchange in the aftermath of victory over Nazi tyranny. The Atlantic Charter promoted decolonization, free trade and freedom of the seas. This model was formalized in 1947 with the GATT Agreements. This was reinforced during the Reagan-Thatcher era by a vast movement of privatization and deregulation.
In 1991, President Bush announced his vision of a new world order: globalization. The objective was to fill and profit from the void created by the disappearance of the USSR and extend Anglo-Saxon domination in a manner that closely twinned economic and military expansion.
The new model encompassed not only the free trade of goods but also of services and capital, to be regulated by an arbitrating tribunal that would constrain the sovereignty of individual states, which is today embodied in the World Trade Organization.
In the 21st century, this on-going process has led to the dematerialization of the world economy. Favoring the expansion of military-related industries while manufacturers of domestic consumer goods shut down, the Anglo-Saxons created an economy based on "financial products’ (meaning speculation) and the profits derived from "intellectual property" (so called "fair use"). They extended their control over the free trade of goods and services in air space using the "war on terror" as a pretext and over the seas under cover of a "war on piracy". In the meantime, however, the exorbitant costs of the neocolonial occupation of Iraq in 2003 nearly brought about the complete financial collapse of the empire.
At this point, President Obama and Prime Minister Brown attempted to save the system by eliminating foreign financial positions thus compelling capital to migrate in the direction of an Anglo-Saxon fiscal paradise. Additionally, Western governments have in a concerted way placed their means of public finance entirely in the hands of a small number of private banks. As a result, these are now in a position not only to avert collapse but also to acquire firms as they spiral into failure, accelerating the already gigantic concentration of riches.
On 2 October 2009, Ireland will vote in its second referendum on the Treaty of Lisbon (also known as the Reform Treaty), which is set to change the workings of the European Union (EU). There is an idea abroad, especially in North America, that the European Union represents a progressive alternative to U.S.-sponsored neoliberalism. This argument can be found in numerous books and has even been echoed in numerous left-leaning journals. However, according to this expert in international relations and diplomacy, nothing could be further from the truth and he tells us why.
UBS offices on Park Avenue in Midtown Manhattan.
The governments of Switzerland and the United States have reached an agreement in principle on the major issues in their tax evasion dispute involving Swiss bank UBS.
US district judge Alan Gold agreed to cancel a trial that was supposed to begin on Monday into a demand for the confidential information of 52,000 UBS clients.
Gold had already delayed the case three weeks to allow all parties to reach an out-of-court settlement.
Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.”
“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”
The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.
The question of a supranational (...)
Recent free trade agreements signed with the American and Canadian governments fueled the Peruvian government to go ahead with changes to domestic laws that would seek to advance mineral, logging, oil and agricultural ‘development’ into previously untouched areas of the Amazon. In early June, President Alan García, an ally of US President Barack Obama, ordered armored personnel carriers, helicopter gun-ships and hundreds of heavily armed troops to assault and disperse a peaceful, legal protest organized by members of Peru’s Amazonian indigenous communities protesting the entry of foreign multinational mining companies on their traditional homelands.
The Bilderberg Group conference is the most important meeting in the world, attended each year since 1954 by the world’s most powerful individuals. They meet behind closed doors and their decisions affect every human being on earth, at present and in the future. The step-by-step crafting of a supranational world government has been on their agenda for decades. This year in Greece, they focused on the economic crisis and the threat of a disease pandemic as a means of justifying centralization of power.
By James Quinn
The Chinese yuan is preparing to overtake the US dollar as the world’s reserve currency, economist Nouriel Roubini has warned.
Professor Roubini, of New York University’s Stern business school, believes that while such a major change is some way off, the Chinese government is laying the ground for the yuan’s ascendance.
Known as "Dr Doom" for his negative stance, Prof Roubini argues that China is better placed than the US to provide a reserve currency for the 21st century (...)
Carnaval celebration in Rio de Janeiro, Brazil
By Malcolm Moore
China has become Brazil’s most-important trading partner, disrupting a relationship between the United States and the Latin country that stretches back to the 1930s.
Welber Barral, the Brazilian trade minister, said total trade between Brazil and China had amounted to $3.2bn (£2.14bn) in April, representing a near twelve-fold increase since 2001.
The sum was greater than the $2.8 billion of imports and exports to the US and (...)
As the world teeters on the brink of financial disaster, leaders are calling for a new world order. As early as the late 1990s, David Rockefeller, author of the idea of private power that is due to replace the governments, said that the world was on the threshold of global changes. He invoked the need of "some large-scale crisis that will make people accept the new world order..." Olga Chetverikova believes we have reached the final stage of that long-time planned ’global control’ agenda.
Let the game begin ! We are about to watch one of the most interesting political chess matches ever played on the international stage. Perhaps the most honest statements in today’s AP news report, "US eases Cuban travel, money restraints" - are the words, "U.S. telecommunications firms were freed to seek business there" and "Obama said as a presidential candidate that the embargo was a form of leverage to press for democratic reforms in Cuba."
A concerted push towards the creation of a new global currency is underway. The idea is not new, but the elites have seized the current crisis as an opportunity to fast-track their long-term plans for forging a New World Order, beginning with the financial sphere. The process will be conducted under the stewardship of the IMF, aptly refurbished for the job, the World Bank and the Bank of International Settlements. Marshall suggests that behind the calls for a new global currency, we are witnessing the emergence of a New World Order comprising a totalitarian global government structure which will remove any vestiges of oversight and accountability away from the people, and toward a small, increasingly interconnected group of international (...)
The first major international operation of the Obama Administration is the G20 summit in London. It is focussed on the global domination of Anglo-Saxon finance. Two important decisions have been taken: increasing the resources of the IMF and the World Bank and “abolishing banking secrecy”. Jean-Claude Paye notes that this new regulation – which in fact aims at moving money back into Europe – benefits Anglo-Saxon legal structures for money laundering: trusts and the LLC.
Those who were hoping the G-20 would result in concrete measures to resolve the world ecomic crisis will have been disappointed. The Summit prioritized finance capitalism and decided to provide increased funds to the IMF so that it may pursue its exploitative policies vis-à-vis the Third World. By breaking down resistance, the crisis offers an unexpected "opportunity" for the advocates of capitalism to accelerate the system’s globalisation process. Damien Millet and Eric Toussaint offer us their assessment.
James Petras renders a sobering diagnosis of the global crisis, in stark contrast with the upbeat spin emanating from the recent G-20 Summit. Leaving no stone unturned, he takes us through the various processes, including military-driven empire building, that have led inexorably to the current, deepening debacle. The elephant in the room is the capitalist system itself. With great eloquence, Petras fleshes out the message that protesters throughout the world have been shouting out: "capitalism isn’t working".
Traders work at the New York Mercantile Exchange
Thousands to March on Wall Street & AIG on APRIL 3 as part of the Bail Out People, Not Banks Protest
Main focus of March:
The need for a real jobs program
A moratorium on foreclosures and evictions
The April 3 March on Wall Street will begin with an opening rally at 1:00 PM at Wall Street and Broadway, followed by a march to AIG at 70 Pine St.
The Bail Out the People Movement Statement on AIG and the Latest Bank Bailout Plan (...)
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