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Bush and world finance

fff

Well-known member
So is GW Bush going to bring the US in line with "global financial systems"?

French President Nicolas Sarkozy called for change in the global financial system before Saturday talks with US President George W. Bush, who is offering to host an international summit on the economic crisis.

Bush will make the summit announcement after Sarkozy and European Commission chief Jose Manuel Barroso arrive at the Camp David presidential retreat in Maryland, a senior administration official said, speaking on condition of anonymity.

The official did not give a date for the gathering.

Bush, Barroso and Sarkozy -- who is armed with a mandate from his EU colleagues to push for an overhaul of the financial system -- are to discuss plans for coping with the most severe global economic crisis since the Great Depression of the 1930s.

More at the link: http://news.yahoo.com/s/afp/20081018/bs_afp/financebankingworld_081018214149
 
A

Anonymous

Guest
The right wing folks think Bush is taking them right down the tubes to a "New World Order"- what they've thought for sometime was his plan from day one....

Britain’s Prime Minister Argues for Global Governance
Written by Brian Farmer
Friday, 17 October 2008 15:58

In a Washington Post commentary published on Friday, October 17, Great Britain’s Prime Minister Gordon Brown tried to make the case that "The Financial Crisis Is Also an Opportunity To Create New Rules for Our Global Economy," as the subtitle put it.
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Early on in his commentary, Brown describes the formation of the International Monetary Fund and the World Bank in glowing terms, saying of the "visionaries" who created them, "They knew that for prosperity to be sustained, it had to be shared." How the international economic order works under those two institutions is described in John Perkins’ book, Confessions of an Economic Hit Man. Developing countries are convinced to accept enormous loans based on fraudulent financial reports. The money is funneled though multinational corporations, which build the infrastructure megaprojects. When the enormous projects don’t pan out and the loans cannot be repaid, the countries backing up the international lenders and multinational corporations demand their "pound of flesh," including access to natural resources, military cooperation, and political support. In the process, millions of poor are even further impoverished.

We now watch as the world’s largest financial institutions are being recapitalized with taxpayer money. The upshot is that the banking industry is being nationalized on a global scale. It was government interference that caused the problem and now we’ve been told that more government interference is the solution to the problem! It’s a classic example of what 19th-century French economist Frederic Bastiat referred to as "concocting the antidote and the poison in the same laboratory."

Brown ends his commentary by stating, "Over the past week, we have shown that with political will it is possible to agree on a global multibillion-dollar package to recapitalize our banks across many continents. In the next few weeks, we need to show the same resolve and spirit of cooperation to create the rules for our new global economy. If we do this, 2008 will be remembered not just as a year of financial crisis but as the year we started to build the world anew."

He apparently chose his words carefully, because that sounds somewhat less ominous than "build the New World Order."

http://www.jbs.org/index.php/jbs-news-feed/3542
 
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