Obama quietly agreed to this system while attending the G-20 Summit in England
earlier this month. During the recent meetings of the G-20, the nations issued a proposal
for a "Financial Stability Board"
and an International Economic Union that would control all financial institutions around the globe. This includes the U.S.
Analyst Dick Morris spoke to Greta Van Susterern
on April 3, to put this catastrophic sell-out of our system into context:
Literally from April 2nd of this year -- that is, today -- it's a whole new world of financial regulation in which, essentially, all of the U.S. regulatory bodies and all U.S. companies are put under international regulation, international supervision. It really amounts to a global economic governance.
Let me read you from the communique, Greta. "We agree to a framework of internationally agreed upon high standards. We will set up a financial stability board with a strengthened mandate to extend regulation and oversight to all systemically important financial institutions, instruments and markets" -- including hedge funds, all -- anything that they decide is important to the system -- "to endorse and implement tough new principles on paying (ph) compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms."
Just when Obama is accused of socialism, he's essentially creating world economic governance. This means that the FSB, this newly created board, Financial Stability Board, patterned on the Financial Stability Forum that now exists, headed by an Italian banker, populated largely by the European bank executives, will make the decisions on what standards our own SEC and Federal Reserve board should apply to all firms in the United States of any significant size about executive compensation, market activities, and a whole range of issues that used to be under free enterprise reserved for private decision making.
This is an unbelievably radical document!
This trivializes everything Obama's done until now!
Morris points out that this was done under the radar and will create an economic union that will put American businesses under the control of European bankers. They will be making the rules for our nation, not Congress or independent businesses. President Obama has just turned our monetary system over to a group of unaccountable European socialists!
This decision effectively repeals the Declaration of Independence
and abrogates national sovereignty. The creation of a Financial Stability Board will have power to examine all banks, brokerage firms, and corporations. President Obama has not just nationalized many of our businesses, he has just internationalized
them under a European-run Board where America only has one vote. The communiquÃ© setting up
this Financial Stability Board has no appeal procedure. Any decision by the Financial Stability Board is final. Sounds like an economic dictatorship to me.
As WorldNetDaily reporter Jerome Corsi has written: "Under the premise that the IMF and the Financial Stability Board would have the ability to make loans to important U.S. corporations, the IMF and the Financial Stability Board become the effective global regulators over the corporate world, superseding all U.S. governmental authorities, including the Federal Reserve, the U.S. Treasury, the Federal Deposit Insurance Corporation and a host of corporate regulators, including the U.S. Department of Commerce and the U.S. Department of Labor"
Investigative reporter Cliff Kincaid has published a report
on Obama's efforts to give away our free enterprise system - and reports that this is a long-time goal of atheist billionaire George Soros - the man who helped get socialist Obama elected. The G-20 agreement will permit the nations of the world to bilk American taxpayers out of trillions of dollars over the next decades.
This new economic union will give the International Monetary Fund power to conduct surveillance of the U.S. economy. President Obama also endorsed the use of a global currency called Special Drawing Rights, a new global warming treaty, and the U.N. Millennium Development Goals (MDGs), which will result in more than $1 trillion in new taxes for Americans. The President has laid the groundwork for the death of U.S. national sovereignty and the U.S. dollar as the world's dominant currency.
British Prime Minister Gordon Brown has hailed this U.N. plan as evidence that the nations of the world are creating a New World Order (NWO) - code for world government where nations surrender their sovereignty to international organizations such as the United Nations.
Congress can still act to block many of these Obama-endorsed programs, but will it?
Where Is Congress?
President Obama has agreed to place our economic system under the control of bankers in Brussels, but does he have the executive power to do so? Can a sitting president turn over our capitalist system to European socialists?
Will Congress resist this Obama effort to give European socialists control over our economic system? Or, will a compliant Congress roll over and let Brussels bankers control our economic future?
TAKE ACTION: Contact your U.S. Representative and two U.S. Senators and ask them to explain what they will do to resist Obama's effort to turn our economic system over to socialists in Brussels.