The G20 are meeting next week. This is quite different from the G7 because it includes China. There are two poles at work in world events: one is the US and its group of allies who undermine US stability and China and its allies who are often commodity countries. China’s power is based on its previous involvement with the ‘Third World Movement.’ The US is in charge of the post-WWII alliance whereby WWII empires, Germany and Japan, switched gears and became part of the US empire. I predict that nothing will come out of the G20 meeting except one thing: another vain attempt at regaining the lost status quo.
- 9am – Gordon Brown and President Obama hold talks, followed by 10am press conference. The US and UK have been merged into one big global empire since WWII. The UK has been dependent on the US since WWI. Both are now going bankrupt, trying to keep control of the entire planet. Note my earlier story today about how England can’t even pay for the occupation of Afghanistan!
- World leaders hold bi-laterals in embassies and London hotels. This is fancy talk for ‘real negotiations’ and ‘obvious conspiratorial deals’.
- David Cameron pencilled in for meeting with Barack Obama. Obama has to assure everyone, he is a puppet.
- Afternoon – Barack Obama goes for private audience with the Queen. Just imagine if I and the Queen met. I would chastise her for running a bunch of pirate islands. I would also mention previous revolutions and why my ancestors came to the New World after voting to have a previous English king, beheaded.
- All world leaders, their spouses, finance ministers and central bankers attend Buckingham Palace reception. Note how they are all asked to bow to royalty. This happens all the time. Royals got royal via killing and enslaving people and then hanging out and having children to sit on thrones gotten the nasty way: via war or even nastier, marriages.
- Leaders go for working dinner in Number 10.
- Spouses go for separate dinner in Number 10.
- Finance ministers and central bankers have dinner at Tate Britain
Thursday – London Summit
- 7am – leaders begin to gather at ExCel Centre for G20 (Protesters also expected to begin to assemble) THIS is what they fear. They prefer their private, secret meetings. This way, the rabble can’t interfere with deal-making behind everyone’s backs.
- 8.30am – G20 leaders’ breakfast
- 9.30am – Leaders’ photo
- 9.50am – Morning plenary session Note the lazy schedule. They mill around, eat for an hour, mill around until the photographers are finished and then, by 10 am, have a 3 1/2 hour speechmaking session.
- 1.25pm – Lunch
- 2.30pm – Afternoon plenary session This is super-short, of course, one hour, at best. Probably less.
- 3.30pm – Press conferences begin Not to be drowned out by the screams, sounds of things smashing, chants for people’s heads, tear gas, etc.Leaders leave Thursday evening or Friday morning
SCOTLAND YARD is to deploy officers armed with 50,000-volt Taser stun guns to deal with violent demonstrators planning to disrupt this week’s G20 summit in London.
The very first gilt was issued to pay for the Napoleonic Wars. It was called ‘gilt’ because it supposedly represented actual gold held by the Bank of England. Of course, this was a fiction. But, by claiming the debts were gold, the Crown could fund further empire-building. And the British Empire grew.
Funny, this period of 1812-1914 featured UK workers living in very miserable conditions. The very rich got very much richer and the poor struggled to survive. The agricultural lands once inhabited by millions of peasants became sheep and cow grazing lands. The cities grew and the workers lived in tiny flats and even the children had to toil for a pence so they could eat.
Here is the draft for what the G20 have agreed:
A 24-point draft communiqué, obtained by the Financial Times, claims that the fiscal expansion already in process will increase global output by more than 2 percentage points and create over 20m jobs. Combined with increased resources for a reformed International Monetary Fund, the fiscal and banking support actions aim to enable the world economy to expand by the end of 2010, the draft said….
I think I can do math: 20 million jobs divided by 20 nations=1 million jobs per nation. Now, China has well over a trillion people. So their gain is miniscule. The US has over 150 million workers so this is still pretty small. And equals less than 1% of the 10 million unemployed. Wow, talk about shooting to the stars! The plan must make work possible for 10x the number set by the G20.
Stating that a “global crisis requires a global solution”, the Group of 20 leaders pledge: “We are determined to restore growth now, resist protectionism, and reform our markets and institutions for the future… We are determined to ensure that this crisis is not repeated.”
Every time financiers create a series of immense debt-based bubbles, they ALWAYS swear, they won’t do it again. Every time, the desperate people set up rules and regulations to prevent this. Every time, the financiers demolish the barriers via bribes, corruption and conspiracy. And then make a worse bubble.
Avoiding direct mention of capitalism by name, HAHAHA…or Communism!—the leaders state their fundamental belief in “an open world economy based on market principles, effective regulation, and strong global institutions” to ensure “a sustainable globalisation with rising prosperity for all”…
- Hedge funds will be overseen by a stronger Financial Stability Forum (FSF), expanded to include all G20 members and renamed the ‘Financial Stability Board’. So, they will shut down all the remnants of the old British Empire? Like, Jersey, Singapore, Bermuda, etc? Hope Obama mentions this when he is in the Queen’s massive palace.
- Tax havens and “non cooperative jurisdictions” will be put under unspecified sanctions, and named and shamed in a separate document to be published at the summit. Why, pray tell, can’t we know what punishments will be made here? Eh? Shaming gnomes is utterly useless. They know no shame, they are creatures of pure impulse and self centered appetites for infinite wealth.
- Executive pay and bonuses should “reward actual performance, support sustainable growth and avoid excessive risk-taking”, according to principles laid out by the FSF HAHAHA. Gnomes work very hard, pushing debts on everyone and collecting fees for this service. Note that everyone is very anxious to get them to do this again.
- Banks are told that the quality and quantity of their capital must improve “over time” HAHAHA….don’t hurry! but that “capital requirements should not be strengthened —WHAT THE HELL? No wonder they didn’t mention ‘capitalism’!!!!—until a significant and sustained economic recovery is assured and the transition managed to ensure that the extension of credit is not constrained. See? They want the gnomes to create more credit. As if, the problem was lack of debt.
- ”On currencies, G20 nations pledge to refrain from “competitive devaluation”. HAHAHA! ZIRP is taking over all systems across the planet. And everyone has to devalue in order to gain advantage in ‘free trade.’ Since the G20 wants more free trade, this will also continue.
- On gold, the IMF is asked to bring forward proposals to use proceeds of agreed gold sales to support low income countries. And despite a huge campaign for many years, destroying gold as the basis for currency values, after whining about everyone devaluing their currencies for trade advantage, they talk about the IMF selling off all its gold reserves so there is no more gold reserves in the world….except for….CHINA and RUSSIA, two commie giants!
- Responding to accusations of rising protectionism embodied in national stimulus packages, the leaders reaffirm the commitment made in Washington last year not to raise new barriers to investment or trade, and not to create new subsidies to exports. “We will not retreat into financial protectionism,” they say. Why don’t our own leaders just commit group suicide. Mix some poison with grape Kool Aid.
- The summit agrees to increase resources available to the IMF, borrowing through the market if necessary. And who will the IMF borrow from? Take a wild guess! Tokyo and Beijing!
- A substantial increase in lending by Multilateral Development Banks is agreed, including funding from export credit and investment agencies.
And funding more export credit. We have unbalanced world trade. NOTHING in the G20 documents deals with this. There is a timid push to try to bring the many hell holes run by lawless gnomes for evading taxes, controls and restrictions. But not enough to STOP them.
They view these sad attempts at stopping the pirates as a temporary set back. They will resume their push to offshore everything while keeping total control of the biggest military powers on earth. Note how they deal with pesky demonstrators! They can and will mow them down just like Israeli Jews mow down unarmed Palestinian mothers and peace demonstrators!
Russia supports expanding the IMF’s Special Drawing Rights (SDR) to include the rouble, the yuan and gold, but sees no chance of the G20 Summit accepting a new reserve currency, a Kremlin aide said on Saturday, agencies reported.
“It would be logical for the set of currencies (that make up the SDR) to be expanded, and it could include other currencies, including the rouble, the yuan and perhaps others,” state RIA news agency reported the Kremlin’s senior economic aide Arkady Dvorkovich as saying.
China this week caused a stir ahead of the April 2 Group of 20 meeting of rich and emerging economies when it suggested the world move towards greater use of the International Monetary Fund’s Special Drawing Rights, created by the IMF in 1969 as an international reserve asset.
This had to be looked at carefully. A new consensus is rising. The oil export nations will go for this because all of the paper we pay for their resources will end up in the toilet if we all destroy the value of all paper currencies as everyone goes ZIRP.
Europe is comfortable with China’s growing world role but believes the G20 summit will be too early to decide on Beijing’s calls for more say in global financial bodies, the EU Commissioner for External Relations said on Sunday.
European Union Commissioner Benita Ferrero-Waldner told Reuters in Beijing that the London gathering of 20 major wealthy and developing powers this week would focus on “concrete results” to revive the global economy, not more distant issues.
China caused a stir ahead of the Thursday summit when it suggested the world move to greater use of IMF Special Drawing Rights as an international reserve currency….The idea of a new reserve currency system based on the IMF special drawing rights has not been entirely knocked down, but many G20 leaders have made clear that for now the U.S. dollar’s status as the dominant reserve unit remains.
And the G20 guys know that the Russian/China joint effort in redesigning the entire floating currency regime and restart the gold basis, is pure hell for the other, gold-selling, fiat nations leaning on the US to protect them. The EU, UK and US don’t want to focus on ‘distant issues’ because this means, they must talk about who will be running things once the Chinese 50 Year Plan is complete!
Due to allowing pirates and gnomes to ravage the planet, the Chinese 50 Year Plan is actually moving forwards, not backwards! It is accelerating. Look at how the G20 ask for the IMF to be recapitalized! They need to borrow sovereign wealth funds. Below is a story I wrote on 7/22/2007 [a magic number day!]:
This is pretty firm. China is obviously outraged at the speeding up of the process concerning the way countries report to the IMF and the way the IMF itself is structured. China is no longer the outsider begging to come in, it will be the world’s #3 economy in another mere 4 months or less! This is highly significant.
The fading European powers joined with the US and Japan to attack China’s growing girth. Namely, the world’s strongest currency joined with the world’s two weakest to attack the Bank of China that has the world’s biggest FOREX reserves and a healthy yuan! This is a conspiracy, of course, a hostile conspiracy. When the G8 met this year, they attacked China repeatedly while being totally mum about the dollar and the yen, the Bert and Earnie duo of the developed world.
On 7/17/7, just one week earlier, Japan and China got in a loud snit over the issue of the G7 and G20 constantly harping on the weak Chinese money while Japan got away with making the yen very weak, deliberately. China said, they would force the Japanese carry trade to unwind and Japan claimed, they would flood China with funny money.
The Japanese carry trade unwound very rapidly. Meanwhile, Rato of the IMF, was sniping at China over their FOREX holdings WHILE IGNORING JAPAN! Who had, at that time, nearly equal holdings! China has doubled it, since.
Here we are, two disastrous years later, and the IMF is STILL fending off China! The US, UK and EU don’t want to let go of their death-grip on the IMF because they use this as a club to punish other nations, destroy other nations, and take over all systems, allowing a flood of locusts to invade any commodity nation that gets in trouble due to bubbles.
Proposals for creating a new global reserve currency to replace the U.S. dollar are gathering momentum but need further examination, Germany’s development minister said on Friday.
Heidemarie Wieczorek-Zeul, Germany’s minister for economic cooperation and development, is a member of a panel of experts established by U.N. General Assembly President Miguel d’Escoto Brockmann to analyze the global financial crisis and recommend reforms.
One of the recommendations in an 18-page report the panel issued this week is to create a new reserve currency system based on the International Monetary Fund’s Special Drawing Rights, or SDRs, to replace the U.S. dollar as the top reserve unit, an idea China supports.
Wieczorek-Zeul said the idea, which the panel’s chairman, Nobel Prize-winning economist Joseph Stiglitz, staunchly supports, needed further development.
This is most dangerous! Germany was in full accord with the previous 2 years of yapping a China while ignoring Japan and the US. Now, with Japan collapsing rapidly while the US fusses around, trying to restart lending, Germany is worried that it can’t penetrate the Fortress Japan markets and Japan is unhinged when it comes to its own working class, it won’t be a ‘consumer’ nation for the next 100 years….this leaves China as Germany’s future consumer trading partners.
Germany, like China, yearns for a solid banking system. To see the Old World Order rise again after nearly a century of being eclipsed, is a most amazing thing. Again, it pays to think about all of this based on my series, ‘The Cave of Wealth and Death’: Libra holds Her scales and weighs all things against a square of gold. Paper is like a feather on the other side of Her scales. All things work only if the paper weighs the same as the gold.
This is all quite magical, actually. Paper money backed by gold tends to keep its weight in purchases. But inch further and further from it, the paper gets lighter and lighter until it becomes worthless.
P.O. BOX 483
BERLIN, NY 12022
Make checks out to ‘Elaine Supkis’