G20 meeting, Gordon Brown’s New World Order
British Prime Minister Gordon Brown heralded the emergence of a “new world order” Thursday as the G-20 issued details of an “unprecedented” package of measures to tackle the global economic crisis.
U.S. President Barack Obama called the deal “a turning point in our pursuit of global economic recovery.”
The deal agreed by the leaders of the world’s largest economies included reform of the international banking system and the injection of more than $1 trillion into the world financial system. Full Story
G-20 leaders hoping to end the global economic crisis pledged an additional $1.1 trillion in financing Thursday to the International Monetary Fund and other global institutions and declared a crackdown on tax havens and hedge funds.
In a communique capping a dramatic one-day gathering, the leaders announced the creation of a supervisory body to flag problems in the global financial system — but did not satisfy calls for new stimulus measures.
They did, however, bridge the gap between the United States and some European nations over how far to regulate the market and curb the excesses that sparked the global economic crisis.
“Today the largest countries of the world have agreed on a global plan for economic recovery and reform,” said the host, British Prime Minister Gordon Brown. His announcement was quickly followed by similar ones by the French and German leaders, who supported the results of the summit. Full Story
Fed, FCC Under Control of IMF
The World Bank (WB) & The International Monetary Fund (IMF)
Who is the IMF?
from: 50 Years is Enough
The misery, marginalization, and impoverishment forced on millions by the International Monetary Fund and World Bank is unacceptable and renders them illegitimate.
The IMF and World Bank are controlled by rich imperialist countries in corrupt complicity with national elites all over the world. They claim to lead the fight against poverty, but their role as global loan sharks; their cruel imposition of privatization, cuts to social services, and free trade policies; their funding for environmentally disastrous projects; their secrecy and undemocratic decision making processes, make them an enemy of the people worldwide.
Today, these two institutions are on the defensive. Venezuela, Bolivia, and Ecuador are in open revolt against the IMF and World Bank. South African shantytown dwellers are fighting water privatization; Korean workers are striking against “free trade” agreements; and thousands of people successfully blockaded the G8 meeting in Germany earlier this year.
In the U.S., in the heart of empire, millions are struggling against the oppressive system of capitalism for dignity, autonomy and solidarity. Tens of thousands gathered for the first ever United States Social Forum; millions of immigrants have marched for their rights; and in Washington DC,in the belly of the beast, residents are organizing against the policies of gentrification and displacement.
The Grassroots Guide to the IMF and the World Bank (sample from book)