Posted on 02/10/2004 11:13:36 PM PST by JohnHuang2
It's not the currency stupid, it's integration!
By Joan Veon
© 2004 WorldNetDaily.com
It should be noted that Slick Willie has nothing over Treasury Secretary John Snow – who will snow you at every turn. The closing press briefing of the G7 finance ministers and central bankers on Saturday was a sterling example of arrogance and unbridled power in the hands of the globalists.
What was on the mind of most reporters was the value of the dollar in world currency markets. Snow refused to comment on the way the dollar should go or if there was agreement that it was low enough to accomplish reducing our trade deficit. Seven times, he was asked differently phrased questions about the dollar. His prevailing response was, "I never comment on exchange rates or the levels of exchange rates. Both this agreement and the Dubai agreement were unanimously supported by every member of the G7 and reflect our views on the subject." It was five months ago in Dubai that the G7 finance and central bank ministers signaled their intent to let the markets determine the value of the dollar and other currencies.
However, to one reporter who wanted to know the difference between his verbal statement and the final printed statement that called for flexibility of currencies, he replied: "A strong dollar is and has been the policy of the U.S. for a long time. It is in our national interest. But the relative values of currencies are best established in open, competitive, currency markets."
In his opening remarks, however, John Snow, did explain a very profound change in U.S. policy. He said:
We recognize that we are so interdependent that growth in Asia is important to us, and our growth is important to Japan, and Japan's growth is important to the Euro nations, and their growth is important to us, and the U.K. to us and Canada and so on, so that we are all interconnected in ways that one nation's growth feeds and assists growth in other parts of the globe.
Unless you are a student of the new 21st-century market-based economy, you will not catch this very major policy shift by Snow.
In order to understand this important policy shift, you must first understand that the major goal and objective of the G7 heads of state when they first met in 1975. In their first report, they said:
We came together because of shared beliefs. We are responsible for the government of an open democratic society. To assure the world of growing interdependence, we intend to play our own full part and strengthen our efforts for closer international cooperation.
The fact that interdependence has been at the forefront of their deliberations and aspirations says it all.
Since 1975, the G8 have sought to "resolve differences on structural reform of the international monetary system and agreed to promote a stable system of exchange rates." This has been accomplished through privatization, standardization and deregulation of laws. Furthermore, this goal has been restated in all of their annual meetings and declarations. In 1982, they restated this goal, "It is essential to intensify our economic and monetary cooperation" and to "work toward a constructive and orderly evolution of the international monetary system."
In 2000, they declared:
[I]n view of the rapid changes occurring in the global financial landscape and, in particular, in light of the opportunities and challenges represented by the increasing size and importance of private capital markets, the international community must continue to address the challenge of promoting greater stability in the international financial system as a platform for sustainable world growth and prosperity.
To the reporters concerned about the dollar, I say, "It's not the currency stupid, it's integration!"
How do you integrate individual countries into one big world system? Well, first you have to drop national laws that impede global growth in finance, economics, trade, customs, transportation, etc. This has been done.
Second, you have to set up the global institutions to facilitate the new global landscape. This has been done.
Then you need to establish a stock market in every country of the world by privatizing and putting state-owned assets into the market. This has been done as the World Bank has greatly facilitated this in most developing countries so that today, every country has a stock exchange.
Then you have to change the structure of government and privatize government assets and allow business to co-manage with government through public-private partnership. Bill Clinton called this "reinventing government." This has been done – not only in the U.S., but worldwide.
At the same time you are implementing the above, you do not want to explain in clear terms what you are doing because then the public will understand that they have been lied to so that the powerful on the global level have the ability to control the value of all they own – mortgages, auto loans, stocks, bonds, real estate, etc. This has been done, as is evident by the kind of reporting the mainstream press has done, for we have all been snowed.
Integration is the tricky part. How to get one country to buy more of another country's goods and vice versa. To do this, you need to change the global monetary system from one based on the accountability of gold to one of no accountability and paper. This was done. In 1971, President Nixon took the dollar off of the gold standard and – for the first time since the ancient trading routes in Babylon – paper was used as a currency instead of gold, silver, jewels, animals and clothing. With a paperless currency, it is possible to change the value of it upon demand. Now you are ready to integrate the countries of the world, through changes in the value of national currencies.
If you look at the 1990s, there were massive problems that created high and lows for the dollar, euro, yen and Deutsche mark (which has now been replaced by the euro). In every case where the dollar dropped to new post-World War II lows against the yen and Deutsche mark the central banks of the world had to bail out the dollar. Currently the dollar comprises 65 percent of the foreign exchange reserves of central banks.
I believe that the change in the value of the euro, yen and dollar was primarily to help further monetary integration between countries. When the dollar is weak, our exports are cheaper than foreign products and America is on sale. When the euro dropped over 30 percent after it was birthed, that made European products cheaper than American or Japanese products and Europe was on sale. When the yen dropped over 30 percent in value, that made Japanese products more competitive and Japan was on sale. Money moves where there is opportunity and the $2 trillion in stateless money that moves around the world daily is able to make a killing if they play the currencies right.
Lastly, if you do not want to play these games, there are ways to help you change your mind. After doing extensive research on the 1997 Asian Crisis, I found that Malaysia, Singapore, Thailand, Korea and Japan did not want to open their financial borders to the World Trade Organization Financial Services Agreement. By allowing foreigners to buy their banks, insurance companies and brokerage firms, they would lose financial sovereignty over those assets. As such, their currencies were crashed.
In a borderless world based on paper money, this is possible with the push of a button or a telephone call to key central banks to sell enough currency to impact maximum damage. The reason Asia is "coming back" is because they have agreed to selling their banks, insurance companies and brokerage firms to foreigners. Furthermore, in a world where there are no borders, the state is helpless when it comes to protecting its currency. In an integrated world, there is no way out and there is no way to stop it. In this global market-based economy, only those who control the markets win ... and you and I don't control the markets.
This twit has a complete command of the obvious, but not one single clue about WHY what is happening in the currency mkts IS happening.
In short, her time would be much better spent in getting her legs waxed, or her chest enhanced, or even -- experimentally only, mind -- smoking crack.
Great gracious G-d, when please oh lord may we become free of these morons?
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