Flashback: G20 is Using the Financial Crisis to Mandate Developing Countries’ 'Full Integration into the Institutions of Global Governance'

Bankers to Form a World Government and Global Economy

In his speech, Trichet, president of the European Central Bank, acknowledges the role of the G20 in using the financial crisis to mandate developing countries’ “full integration into the institutions of global governance.” Since the enormous EU bailout of Greece, the article below from May makes even more sense now.

May 2, 2010

Kelley Blogspot - ECB President tells insiders that secretive group of international bankers — responsible to no nation state — will become the primary engine of world government.

In a speech before the elitist Council on Foreign Relations organization in New York earlier this week, President of the European Central Bank Jean-Claude Trichet called for the imposition of global governance to be bossed by the G20 and the corrupt Bank of International Settlements in the name of safeguarding the global economy.

In an address entitled “Global Governance Today,” Trichet proclaims how the elite need to impose “a set of rules, institutions, informal groupings and cooperation mechanisms that we call “global governance.”

During the course of the speech, Trichet uses the term “global governance” well over a dozen times, outlining how “global governance is of the essence” to avoid another financial crisis.

Section one of Trichet’s speech is entitled, “Why we need global governance,” and from then on he constantly invokes the economic downturn as a justification for empowering secretive, undemocratic and corrupt global institutions with the power to rule the world.

Highlights of Trichet’s speech can be viewed below via the official Council on Foreign Relations.



A full transcript of the speech was also carried by the Bank for International Settlements (BIS), an international organization of central banks that has constantly lobbied for a centralized global currency to replace that of nation states. Trichet praises the BIS as being “ahead of the curve” in dealing with the financial crisis during the speech.

• The primary outfit that will boss the institutions of global governance, according to Trichet, is the Global Economy Meeting (GEM), which regularly meets at the BIS headquarters in Basel.


• This group, states Trichet, “has become the prime group for global governance among central banks.” The GEM is basically a policy steering committee under the umbrella of the Bank for International Settlements.


• The BIS is a branch of the of the Bretton-Woods International Financial architecture and closely allied with the Bilderberg Group. It is controlled by an inner elite that represents all the world’s major central banking institutions. John Maynard Keynes, perhaps the most influential economist of all time, wanted it closed down, as it was used to launder money for the Nazis during World War II.

Financial website Investors Insight describe the BIS as “the most powerful bank you’ve never heard of,” labeling it “the most powerful financial institution on earth.”

The bank wields power through its control of vast amounts of global currencies. The BIS controls no less than 7% of the world’s available foreign exchange funds, as well as owning 712 tons of gold bullion.

“By controlling foreign exchange currency, plus gold, the BIS can go a long way toward determining the economic conditions in any given country,” writes Doug Casey. “Remember that the next time Ben Bernanke or European Central Bank President Jean-Claude Trichet announces an interest rate hike. You can bet it didn’t happen without the concurrence of the BIS Board.”

The BIS is basically a huge slush fund for global government through which secret transfers of wealth from citizens are surreptitiously handed to the IMF.

“For example, U.S. taxpayer monies can be passed through BIS to the IMF and from there anywhere. In essence, the BIS launders the money, since there is no specific accounting of where particular deposits came from and where they went,” writes Casey.

“The bank was a major player promoting the adoption of the euro as Europe’s common currency. There are rumors that its next project is persuading the U.S., Canada and Mexico to switch to a similar regional money, perhaps to be called the “amero,” and it’s logical to assume the bank’s ultimate goal is a single world currency. That would simplify transactions and really solidify the bank’s control of the planetary economy,” adds Casey.

The Bank of International Settlements is responsible to no national government whatsoever. Trichet’s acknowledgment that an offshoot of the corrupt BIS will boss the main engine global government is a startling revelation, and emphasizes once again that world government is inherently undemocratic and dictatorial in nature.

The fact that Trichet unveiled this new approach in the march towards global governance before an audience of CFR insiders is fully appropriate.

The Council on Foreign Relations comprises of influential elitists and powerbrokers from all sectors of government, business, academia and the media. It is the public face of the more secretive Bilderberg Group. The CFR only recruits members sympathetic to its agenda for global government and the elimination of U.S. sovereignty.

The scope of the CFR’s mission was best encapsulated by former Deputy Secretary of State under Clinton and CFR luminary Strobe Talbott, who told Time Magazine in July 1992,

“In the next century, nations as we know it will be obsolete; all states will recognize a single, global authority. National sovereignty wasn’t such a great idea after all.”

As we have emphasized, the global elite have already announced the birth of world government and who will run it. People expecting the UN to be at the helm have been distracted as the G20, alongside the BIS, was being empowered with the tools through which global governance is being coordinated.

In his speech, Trichet acknowledges the role of the G20 in using the financial crisis to mandate developing countries’ “full integration into the institutions of global governance.”

“The G20 has been effective in addressing the global crisis. We are now at the stage where this forum is making the transition from acting in a crisis resolution mode to contributing to crisis prevention,” said Trichet.

In other words, the elite exploited the financial crisis in order to allow the G20 to pose as saviors and consequently empower itself to impose global governance regulations on nation states in the name of avoiding another economic crisis.

As EU President Herman Van Rompuy stated during his speech in Brussels, 2009 marked the first official year of world government powers being directly exercised to control the economies of nation states.

“2009 is also the first year of global governance, with the establishment of the G20 in the middle of the financial crisis. The climate conference in Copenhagen is another step towards the global management of our planet,” said Van Rompuy.

World Finance Leaders Fail to Resolve Currency Dispute

A global currency and “a global central bank would be a disaster,” says financial guru Bob Chapman, editor of the International Forecaster. “It means the acceptance of world slavery.” Chapman also pointed out that the present international monetary system was being deliberately destroyed precisely to bring about a global currency like the bancor.

“It’s just not fiscal and monetary policy. It is every facet of your life that these elitists want to control.” And they’re moving rapidly toward that goal. In addition to printing money, the emerging global central bank and its affiliates are already usurping other powers traditionally exercised at the national level.

CFR insider Jeffrey Garten calls for the new planetary central bank to be the lead regulator of all sorts of financial institutions, monitor risks, push national authorities to modify their policies, coordinate national stimulus programs, orchestrate a global-stimulus plan, force taxpayers around the world to bail out companies, and even act as a bankruptcy court.

A lot of that is already coming into being, but as the new monetary order develops, the agenda will only accelerate. And as if all that wasn’t bad enough, there is no accountability for this newly empowered IMF. While the IMF has articles of association and some governance rules, the true power structure behind it is the G20, which is “completely unaccountable.”

- Alex Newman, The Emerging Global Fed, The New American, September 16, 2010

October 10, 2010

Associated Press – Global finance leaders failed Saturday to resolve deep differences that threaten the outbreak of a full-blown currency war.

Various nations are seeking to devalue their currencies as a way to boost exports and jobs during hard economic times. The concern is that such efforts could trigger a repeat of the trade wars that contributed to the Great Depression of the 1930s as country after country raises projectionist barriers to imported goods.

The International Monetary Fund wrapped up two days of talks with a communique that pledged to "deepen" its work in the area of currency movements, including conducting studies on the issue.

The communique essentially papered-over sharp differences on currency policies between China and the United States.

The Obama administration, facing November elections where high U.S. unemployment will be a top issue, has been ratcheting up pressure on China to move more quickly to allow its currency to rise in value against the dollar.

American manufacturers contend the Chinese yuan is undervalued by as much as 40 percent and this has cost millions of U.S. manufacturing jobs by making Chinese goods cheaper in the United States and U.S. products more expensive in China.

China has allowed its currency, the yuan, to rise in value by about 2.3 percent since announcing in June that it would introduce a more flexible exchange rate. Most of that increase has come in recent weeks after the Obama administration began taking a more hardline approach and the U.S. House passed tough legislation to impose economic sanctions on countries found to be manipulating their currencies.

Chinese officials continued to insist that their gradual approach to revaluing their currency was best, and that faster movements risked destabilizing the Chinese economy.

Various other nations, including Japan, Brazil and South Korea, also have taken steps to keep their currencies weaker in an effort to increase their exports. And in the United States, expectations of further monetary easing by the Federal Reserve have driven the dollar down significantly against the euro and other major currencies.

Egyptian Finance Minister Youssef Boutros-Ghali told reporters Saturday at a concluding news conference that there were "a number of points of friction" at the meetings. But he said it was a significant achievement that all countries recognized the central role the IMF should play in trying to resolve currency conflicts.

IMF Managing Director Dominique Strauss-Kahn said he did not view the outcome of the discussions as a failure. He said they set the stage for further progress at the upcoming summit of leaders of the Group of 20 nations in November in Seoul and at future IMF meetings.

Strauss-Kahn said the G-20 countries remained committed to the goals they established a year ago of achieving more balanced global growth and that this will require changes in currency policies.

The G-20 includes traditional economic powers such as the United States and Europe along with fast-growing economies such as China, Brazil and India.

"I am not disappointed," Strauss-Kahn told reporters about the outcome of the two days of talks.

Strauss-Kahn acknowledged that significant differences also remained on the question of reforming the IMF by giving China and other fast-growing economic powers greater voting rights and representation on the IMF board. The G-20 leaders are supposed to endorse a deal on IMF reform at their November summit.

Treasury Secretary Timothy Geithner on Wednesday raised the possibility that awarding greater power to China in the IMF should be linked to an increased willingness of that country to reform its currency system.

Strauss-Kahn told reporters Saturday that this comment was not a form of blackmail but rather acknowledgment that as countries grow more important economically, they must bear greater responsibility for the proper functioning of the global economy.

But Oxfam, an international aid group, criticized Geithner's comments.

"The currency war cannot be used to hold IMF reform hostage," said Oxfam spokesperson Pamela Gomez. "The IMF can't do its job unless emerging economies are at the table."

In his comments to the IMF's policy-setting panel on Saturday, Geithner said that the IMF must begin to speak more forcefully about how countries manage their currencies.

The IMF's concluding statement did pledge to work for "stronger and evenhanded surveillance to uncover vulnerabilities in large advanced economies." Strauss-Kahn said he would personally participate in the annual economic reviews of the world's five or six largest economies, a group that would include the United States and China.

But private economists were not impressed with the IMF's new commitments on surveillance.

"The IMF ratcheted up the focus on exchange rate surveillance a few years ago and then eased off under pressure from China," said Eswar Prasad, a trade professor at Cornell University. "Now it is back to reasserting what should have been a core part of its surveillance mandate all along."

While the United States has been leading the charge against China, some other countries voiced their support during the IMF-World Bank meetings.

Olli Rehn, the economic commissioner for the 27-nation European Union, told the IMF committee that it was important that China start "to implement soon a more flexible exchange rate regime."

Canadian Finance Minister James Flaherty told reporters that the global economy would be the loser if nations followed "beggar-thy-neighbor" currency policies that invited retaliation by other nations.

But French Finance Minister Christine Lagarde said Saturday that a successful resolution of the currency dispute with China would require a cooling of over-heated rhetoric about currency wars.

"In a war, there is always a loser and in this situation there must not be a loser," she said.

She said that France, which will serve as leader for the G-20 in 2011, plans a major focus on developing reforms to the international currency system.



"This present window of opportunity, during which a truly peaceful and interdependent world order might be built, will not be open for too long—we are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order." - David Rockefeller, September 23, 1994

"It cannot happen without U.S. participation, as we are the most significant single component. Yes, there will be a New World Order, and it will force the United States to change its perceptions." - Henry Kissinger, World Affairs Council Press Conference, April 19, 1994

We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent. - James Paul Warburg, Before the U.S. Senate, February 17, 1950