In These New Times

A new paradigm for a post-imperial world

Secret Plan For IMF World Dictatorship G-20 Summit In DC On 11-15-8

Posted by seumasach on November 11, 2008

Webster Tarpley

11th November, 2008

This is a confidential strategy paper for the November 15 G-20 summit in Washington DC. This is not a new Bretton Woods in any sense, but rather a British-steered attempt to impose the dictatorship of the International Monetary Fund (IMF) on the entire planet, wiping out all hope of economic recovery, the modernization of the developing countries, and national sovereignty at the same time.

Under this plan, the IMF would dictate the economic policies of all states. The IMF orthodoxy is austerity, sacrifice, deregulation, privatization, union busting, wage reductions, free trade, the race to the bottom, and prohibitions on advanced technologies. These policies would strangle humanity.

The Brazil-Russia-India-China bloc is reportedly objecting to putting so much power into the hands of the IMF, which is dominated by the US and the British, with Prime Minister Gordon Brown and Treasury Secretary Paulson of Goldman Sachs laying down the party line.

The new Chinese economic measures are the opposite of the bankers’ bailouts imposed so far in the wealthier countries. The Chinese will spend $585 billion on infrastructure, transportation, housing, and food production, with special attention to railroads, airports, and roads. The Chinese package is in the spirit of the Franklin D. Roosevelt New Deal, and it will maintain forward progress for China. The US $700 billion bailout and the UK and EU versions are a futile attempt to prop up the $1.5 quadrillion derivatives bubble. Sensible economic policy starts with wiping out the derivatives cancer.

The interest of humanity can only be served by preventing the Washington conference from carrying out the plan outlined below. If Russia, China, and the developing countries can mount an effective opposition, the world will divide into two blocs – a pro-derivatives, anti-production Malthusian-monetarist bloc, which will tend to fall behind because of its own policies; and, on the other hand, an anti-derivatives, pro-production bloc of nations seeking modern technology, and the full fruits of scienitific and economic progress. Persons of good will in all nations are encouraged to mobilize to make sure that their own country joins the pro-production, anti-derivatives bloc.
Preparations the for economic summit in Washington on November 15 are well advanced. Here are the five points which are currently on the agenda to be adopted by the invited heads of state. The overall philosophy is to continue globalization by reinforcing free trade and by creating a world economic government under the IMF.
The IMF Program Reads As Follows:

1) require the credit rating agencies to be registered and monitored and submit to rules of governance;

2) halt the principle of a convergence of accounting standards and re-examine the application of the fair market value rule in the financial field, so as to improve its coherence with the rules of prudence and conservatism;

3) to resolve that no market segment, territory, or financial institution shall escape from a proportionate and adequate regulation, or at the least, surveillance;

4) set up a code of conduct to avoid excessive risk-taking in the financial industry, including in the area of compensation. Supervisors will have to follow this code in evaluating the risk profiles of financial institutions;

5) to entrust to the IMF the primary responsibility, along with the FSF (Financial Stability Forum – Basel), to recommend the necessary measures to restore confidence and stability.

The IMF must be equipped with the essential resources and suitable instruments to support countries in difficulty, and to exert its role of macroeconomic surveillance to the fullest.

One Response to “Secret Plan For IMF World Dictatorship G-20 Summit In DC On 11-15-8”

  1. smeddum said

    This secret plan reads as futile.
    1)The credit rating agencies which “oversaw” deregulation are now to adhere to more self regulation. Like if it thats not too little too late.
    2)This is really just a measure against short selling to clarify the difference between “fireside’
    price and imaginary price.
    3)To institute the above.
    4)try to make sounder the determination whether or not loans should fall under the category of risk taking. Limiting the bets within a shrinking casino.
    5) asking the IMF to be the guaranteer for this economic irresponsibility or responsibility, whatever the case may be.

    If that is all the Brit neo-liberals can secretly determine as all outcomes, then the G20 must be taken then as only a smokescreen for “austerity, sacrifice, deregulation, privatization, union busting, wage reductions, free trade, the race to the bottom, and prohibitions on advanced technologies. These policies ….(that)… would strangle humanity.

    This is like more of the same. If so, how long can that be a solution , in a world already thwarted by the ‘values’ of neo-liberalism?
    The question is:
    How far can financial power shift from the USA to the rest of the world?

    As the above article ponders.

    “If Russia, China, and the developing countries can mount an effective opposition…?”

    This is posed ideologically, and assumes the continuance of this fray to only be set in the arena of ideas. Eventually, the delay of the depression through bailout, and the passage of
    unipolar power, as departed; will assert the rising multipolar power as a shift away from financial chicanery towards economic realism.

    This may not happen immediately but what ever happens. This weekends meeting of the G20
    is just an opener. The bet by Webster Tarpley has made is for the American Dream against the “free” market deflated or burst bubble.

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