Right Side News (Link) - Andrea Lafferty (April 14, 2009)
Most Americans are probably unaware that President Barack Hussein Obama has shockingly agreed to place America's free enterprise system under the control of a world financial government to be ruled from Brussels, Belgium.
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 communiqué, 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.
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