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.
"Vulture funds" refer to companies that buy insolvent debts for a song and later try to cash in on them by force. Billionaire Paul Singer has made it his specialty. Today he is intent on consolidating his fortune at the expense of the Argentinian people, while already setting his sights on Spain.
European governments most hypocritically claim that the mandate given to the European Commission to negotiate a transatlantic trade and investment partnership agreement with Washington falls within European law. Actually as with previous agreements such as Swift, data related to air passengers, and to tax evasion, the Commission has been told to suspend the application of European law when negotiating with the US. Consequently negotiations amount to deciding the areas in which Europeans will no longer be protected by their respectives States.
BRICS are laying the foundations of a new financial architecture with the Contingent Reserve Arrangement and the creation of their own development bank. However, as Ariel Rodriguez Noyola points out, cooperation among its members is plagued by strong rivalries, making it difficult for them to reach an agreement.
The Russian Federation is expected to announce economic sanctions against Washington. According to Deputy Prime Minister Dmitry Rogozin, Moscow could suspend space shuttle co-operation and stop delivering rocket engines.
To get astronauts to and from the International Space Station, NASA currently relies on the Russian Federal Space Agency and its Soyuz rockets and spacecraft.
U.S. military satellites are launched by Atlas-5 rockets provided by United Launch Alliance (ULA), a company (...)
Washington has thwarted several launches of European satellites outfitted with U.S. equipment, which were to be sent into orbit by Russia’s Proton rocket, reported on Monday Russian daily Moskovsky Komsomolets.
According to specialized journalist Peter Selding, the U.S. sanctions target, inter alia, the Astra 2G telecommunications satellite of Luxembourg manufacturer SES, which was scheduled for launching in June from the Baikonur Cosmodrome on the Proton-M carrier rocket. The launch of the (...)
Specially Designated Nationals List Update
The following individuals have been added to OFAC’s SDN List:
• BELAVENCEV, Oleg Evgenyevich (a.k.a. BELAVENTSEV, Oleg); DOB 15 Sep 1949; Russian Presidential Envoy to the Crimean District; Member of the Russian Security Council (individual).
• CHEMEZOV, Sergei (a.k.a. CHEMEZOV, Sergey Viktorovich); DOB 20 Aug 1952; POB Cheremkhovo, Irkutsk, Russia (individual).
• KOZAK, Dmitry; DOB 07 Nov 1958; POB Kirovograd, Ukraine; Deputy Prime Minister of the (...)
The international search for missing flight MH 370 showed that Washington was able to track the aircraft well beyond what it has admitted so far and that it waited a week before revealing what it knew. The search also showed that China lacks the refuelling ports to deploy its navy over such a large area. But beyond the news item and the respective strategic capabilities that it brought to light, this enigmatic disappearance has made at least some people happy: Blackstone and Jacob Rothschild.
The U.S. fast food chain McDonald’s announced on Friday it had closed its three restaurants in Crimea (Sevastopol, Simferopol and Yalta).
Although the chain has not provided a clear explanation, its decision was likely prompted by the political situation.
Commenting on the announcement, the leader of the Russian Liberal Democratic Party (Nationalist), Vladimir Zhirinovsky, said that the chain would be well advised to also close all of its approximately 400 restaurants throughout the rest (...)
According to a report in Kommersant-Ukraine, the finance ministry of Washington’s stooges in Kiev who are pretending to be a government has prepared an economic austerity plan that will cut Ukrainian pensions from $160 to $80 so that Western bankers who lent money to Ukraine can be repaid at the expense of Ukraine’s poor. It is Greece all over again.
1. We welcome recent signs of improvement in the global economy, in particular, growth strengthening in the United States, United Kingdom and Japan alongside continued solid growth in China and many emerging market economies , and the resumption of growth in the euro area. Some key tail risks have diminished.
2. Despite these recent improvements , the global economy remains far from achieving strong, sustainable, and balanced growth. We agree the global economy still faces weaknesses in (...)
In Rome, the "Markets, Culture and Ethics" interdisciplinary research centre of the Pontifical University of the Holy Cross (Rome) is offering a course entitled ’’Economics for Ecclesiastics’’.
The inaugural lecture will be delivered by a former adviser to Margaret Tatcher and vice president of Goldman Sachs International, Lord Brian Griffiths of Fforestfach.
The Pontifical University of the Holy Cross is the academic front for the Opus Dei.
Lord Brian Griffiths is also the chairman of the (...)
1. The G20 has been at the forefront of efforts to establish a more effective, efficient and fair international tax system since they declared the era of bank secrecy over at the G20 London Summit in April 2009. In an increasingly borderless world, strengthening international cooperation in tax matters is essential to ensuring the integrity of national tax systems and maintaining trust in governments.
2. The Global Forum on Transparency and Exchange of Information for Tax Purposes has (...)
“…we agree to establish a Working Group on Development and mandate it to elaborate, consistent with the G20’s focus on measures to promote economic growth and resilience, a development agenda and multi-year action plans to be adopted at the Seoul Summit.”
The G20 Toronto Summit Declaration, June 2010
1. The main added value of the G20 development agenda has been a strong emphasis on the importance of economic growth. Economic growth has been central to the progress achieved in reducing (...)
A Narrative Progress Report on Financial Reform
The G20 committed in 2008 to a fundamental reform of the financial system, to correct the fault lines that led to the global financial crisis and to rebuild the financial system as a safer, more resilient source of finance that better serves the real economy. To achieve this, the G20 called on the FSB to coordinate the development of a robust and comprehensive framework for global regulation and oversight of what is now a global financial (...)
The ministers for Employment and the Economy, as well as the governors of the central banks for the member states of the G20, met in Saint-Petersburg between the 18th and the 20th July 2013.
The aim of this meeting was to prepare the summit meeting of the heads of state and governments which will be taking place on the 5th and 6th of September.
The participants examined the propositions of the OECD to tax multinational and other companies which, so far, partially avoid their influence. (...)
Financial Crime and Coup d’état. First Part.
The Libertarian’s Think Tank
Chaos by design?
The Art of War