Statement From G-20 Summit: In English
November 20th, 2008Via: Solari:
The Editor of Expresso in Portugal wanted my take on the recent G-20 communique. Here is my “translation” of the official statement:
1. Now that the growth of debt and derivatives bubbles has stalled, we are committed to using governmental-central bank mechanisms to cover the positions of any of the large private financial institutions whose profits are at risk due to their management of these bubbles and who can use this opportunity to squeeze and acquire smaller rivals at low cost.
2. Our commitment to use derivatives and market interventions to shift investment from the real economy and commodities into a paper economy is firm. We will continue to use centralized governmental mechanisms to subsidize and manage this process.
3. All of the organizations and players who reaped a fortune engineering the debt and derivatives bubbles will be allowed to keep their winnings.
4. We will use this period of consolidation to further centralize the global financial system by enforcing greater centralization of the standards, practices and control of enforcement and regulatory bureaucracies. This increased governmental centralization will be presented as the “fix” for our “problems.”
5. We will continue the move toward one world government and one world currency.
6. We are prepared to use coordinated inflation of global money supplies and fiscal stimulus to protect our control and positions.
7. We are committed to the Slow Burn (see my blog post on this subject).
8. This process will continue to be managed to protect large insurance and risk positions.
9. The net result will be to continue to exercise growing control over the real economy by a handful of private families and institutions designed to protect and grow intergenerational wealth.
G-20 are silent on the military and covert action that will be required to make this stick. They are also silent on how they are going to manage this much inflation. For example, the most recent figures from the St. Louis Fed indicate that the aggregate monetary base is growing at an annualized rate of almost 800%.
Watch for a new focus on “green investing” as the trick in all of this will be how to create new productivity when the absence of real prices mean there is no market to provide the necessary signals and financial incentives.
Research Credit: Pookie and GH
“5. We will continue the move toward one world government and one world currency.”
Funny, I saw a summary of that meeting a few days ago on one of the 24-hour fluff news channels and they didn’t mention anything about a resolution to move toward a one-world gov’t. Now when Ron Paul warned before the meeting that there would be a call for global gov’t, several commentators did say he was batshit crazy, though. So to review: “World Leaders” are perfectly decent and sane people when they propose instituting one-world government; but anybody who calls them out for OPENLY advocating such an outrageous thing is called a nut! Go figure.
Full disclosure: my investment advisors over the past couple of years have been Kevin (unpaid) and Fitts.
I’m crying tears for dear friends who have talked to me about their stock market investments over the last few days. Government employees, family members, etc, like the rest of the U.S. peoples who thought the 401 k was so great because it was tax DEFerred.
In short – many have been ENRONED once again.
What’s the Plunge Protection Team thinking these days?
Well, that’s a misnomer. They aren’t thinking. The Shadow Government – all those long haired freaky people who need not apply – are most likely shitting their pants these days cause all the levers they used to pull behind the curtain of Oz are being exposed for the fraud and sham that they are.
This whole sham of the stock market fell down for me a long time ago. I’m out of it entirely except for my retirement account that I sent money to diligently over the years until I realized I was a fool to let anyone invest my money for me. Yes, well so what. My money is not important in the grander scheme of things.
I want the financial criminals to go to Guantanamo. A place where there is no way out.
This is also from Solari. If you don’t like watching someone freak out in the news don’t go here. Hah. A Fatwah on Paulson. Heads should roll. My sentiments EXACTLY. NO MERCY.
http://sagantech.com/blogs/?p=192