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Global Power Project: Bilderberg and the Global Financial Mafia

Global Power Project: Bilderberg and the Global Financial Mafia

By: Andrew Gavin Marshall

11 December 2014

Originally posted at Occupy.com

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This is the fourth installment in a series that examines the activities and individuals driving the Bilderberg Group. Read the first partsecond part and third part.

In the previous Bilderberg article, I wrote that financial markets were “a type of global parasite with unprecedented power capable of determining the fate of nations and peoples.” In truth, the “super-entity” known as financial market power functions like a cartel, or an organized criminal network: a Mafia. This installment examines some of the members of the global financial mafia who are present at Bilderberg meetings and thus are given unparalleled access to political leaders behind closed doors.

At Bilderberg meetings, participants frequently include leading officials and advisers to banks like JPMorgan Chase, Goldman Sachs, Barclays, Deutsche Bank, HSBC and AXA, among others. The participation of leaders and advisers to these and other large financial institutions provides world leaders with direct, “private” access to some of the leading voices at the core of global financial markets. The interests and actions of financial markets can thus be articulated to the leaders of powerful political, media, military, intelligence and technocratic institutions. The “invisible hand” may voice where and when it might smack.

Through Bilderberg, leaders in financial markets are given an inside look at, and access to, those who shape and wield foreign and economic policy in the world’s most powerful nations. Their interests become a part of that process, just as geopolitical interests are integrated into the actions of financial markets. While financial markets command no armies, they determine the flow and functions of money upon which all armies are dependent, and to which nations are obedient. Bilderberg brings these institutions and individuals together for an off-the-record, private chat about global affairs and policy.

Martin Feldstein, who serves on the International Council of JPMorgan Chase, attended all but one Bilderberg meeting between 2010 and 2014. Feldstein is one of the most influential American economists over the past several decades, serving as a professor at Harvard, a member of the Group of Thirty, the Trilateral Commission, the International Advisory Board of the National Bank of Kuwait, and the Council on Foreign Relations. He advised President George W. Bush as a member of the Foreign Intelligence Advisory Board between 2007 and 2009, a position in which he was given access to top-secret intelligence information. He had previously served as one of Ronald Reagan’s chief economic advisers, and President Obama appointed him in 2009 to serve on the Economic Recovery Advisory Board, advising on how to manage the “recovery” following the financial crisis.

Feldstein’s views are well known. Relating to Europe’s debt crisis, for which Bilderberg meetings hold a great deal of significance, Feldstein wrote in the Financial Times in July of 2013 that governments that bowed to “popular political pressure” to lessen the brutal austerity measures widely seen as the cause of mass unemployment, poverty and social unrest, were at risk of facing rising interest rates and “a new fiscal crisis.”

In other words, if governments bend to the will of the people, financial markets will seek to bend them back. A “fiscal crisis” only takes place when creditors (financial markets) decide to stop funding the government. In Europe, nations are largely dependent upon banks to provide them with credit to function. Thus, if the heads of financial markets don’t like the policies of nations, they can cut off their funding, creating a major crisis and even collapsing the government. This leverage forces nations to follow policies favored by financial markets, such as austerity and various other “structural reforms.” Meanwhile, the policies combine to impoverish the population, enrich the elite, allow for mass exploitation of resources and labor, and consolidate control of the economy into the hands of relatively few, large global banks and corporations.

Another key Bilderberg member and leading figure in financial markets is Josef Ackermann, whom I have written about previously. Ackermann has been one of Europe’s most powerful bankers over the past decade, as the CEO of Deutsche Bank and a major power player throughout the debt crisis holding key leadership positions in large industry associations such as the Institute for International Finance (IIF).

The current chairman of the Bilderberg Group, Henri de Castries, is chairman and CEO of the French insurance giant, AXA, one of the top companies on the Swiss study’s list of the “super-entity” of banks and insurance giants. De Castries is also a member of the European Financial Services Round Table (EFR), a lobby group made up of the chairmen and CEOs of Europe’s largest financial institutions.

In 2012, the Financial Times referred to Henri de Castries as one of France’s “best known captains of industry,” having served as an unofficial adviser to former French President Nicolas Sarkozy, and been school classmates with the current President Francois Hollande. De Castries is considered “as establishment as you can get in France.”

In the wake of the European debt crisis, Henri de Castries supported the policies of austerity and structural reform, warning in 2012 that the crisis would continue for some time. He suggested that governments needed to learn how to “spend less” and the only way to “win back our competitiveness” was “through business investment and not by public spending,” adding: “What we need is a profound cultural change.”

Marcus Agius, a member of Bilderberg’s steering committee, is the chairman of PA Consulting, having previously served as the chairman of Barclays, the bank listed in the number one spot on the list compiled by the Swiss study. As chair of Barclays between 2007 and 2012, Agius also served as chairman of the British Bankers Association, was a director of the BBC from 2006 to 2013, and served as a Business Ambassador of the Trade and Investment Ministry of the British government. Agius also married the daughter of Edmund de Rothschild, bringing him into the family of one of the most prestigious and influential financial dynasties in the world.

Agius resigned from Barclays in 2012 as a result of the massive global financial fraud revealed by the Libor rate scandal, whereby some of the world’s largest banks – including Barclays – formed a cartel at the British Bankers Association to manipulate the interest rate at which banks lend to each other, influencing prices throughout the global economy. Despite the resulting scandal for Agius and others, which forced resignations in 2012, he stayed on the bank’s payroll as an adviser until March of 2014, a full 20 months following his official resignation.

Douglas J. Flint, who is chairman of HSBC, has attended every Bilderberg meeting since 2011. He is also chairman of the Institute of International Finance (IIF), and is a member of the European Financial Services Round Table (EFR), the Financial Services Forum, the International Monetary Conference (IMC), and serves on advisory boards to the Mayors of Shanghai and Beijing.

W. Edmund Clark, the chair of one of Canada’s largest banks, TD Bank, has attended every Bilderberg meeting since 2010.

Peter Sutherland has been a long-time Bilderberg participant, and serves as the chairman of Goldman Sachs International.

Robert Zoellick, former World Bank president and Bilderberg participant at every meeting between 2010 and 2014, now serves as the chairman of the Board of International Advisers of Goldman Sachs.

Peter R. Orszag, a Vice Chairman at Citigroup, attended Bilderberg meetings between 2010 and 2012.

The Vice Chairman of Goldman Sachs, J. Michael Evans, attended Bilderberg meetings in 2012 and 2013.

This is but a small sampling of some of the names of the leaders of financial institutions represented at Bilderberg meetings over the past few years. Apart from leading individual banks and financial institutions, many of the financiers who attend Bilderberg meetings simultaneously hold leadership positions within other large banking lobby groups, industry associations, and major international conferences.

For example, Bilderberg members and participants frequently hold simultaneous leadership positions at the Institute of International Finance (IIF), the International Monetary Conference (IMC), and the Group of Thirty (G30), all of which have been the focus of previous installments of the Global Power Project, as they have been profoundly influential organizations in their own right. The fact that so many leading figures in those organizations are leaders and participants in Bilderberg meetings lends extra weight to the importance of the meetings.

Roger Altman, a Bilderberg steering committee member and head of a large investment bank, wrote in a May 2013 article in the Financial Times that financial markets in the 21st century were “much more powerful than any government leader,” noting that the spread of austerity across Europe was not driven by Angela Merkel of Germany or other political leaders, but rather, by “private lenders… who declined to finance further borrowing by those countries,” and thus, “markets triggered the Eurozone crisis, not politicians.”

The views and the desires of bankers and financiers are important – and influential – precisely because if these individuals don’t get what they want, they wield the power in numbers on screens that can force the hands of even the most powerful governments and politicians. As such, the favored policies of bankers frequently become the implemented policies of states.

Andrew Gavin Marshall is a freelance writer and researcher based in Montreal, Canada. 

Forging a “New World Order” Under a One World Government

Forging a “New World Order” Under a One World Government
Global Power and Global Government: Part 4
Global Research, August 13, 2009

This article is Part 4 in the series, “Global Power and Global Government,” published by Global Research.

Part 1: Global Power and Global Government: Evolution and Revolution of the Central Banking System
Part 2: Origins of the American Empire: Revolution, World Wars and World Order
Part 3: Controlling the Global Economy: Bilderberg, the Trilateral Commission and the Federal Reserve



Globalization and the New World Order

The 1990s saw the emergence of what was called the New World Order. This was a term that emerged in the early 1990s to describe a more unipolar world, addressing the collapse of the Soviet Union and the newfound role of the United States as the sole and unchallenged global power. The New World Order was meant to represent a new phase in the global political economy in which world authority rested in one place, and for the time, that place was to be the United States.

This era saw the continual expansion and formation of regional blocs, with the formation of the European Union, the signing of the North American Free Trade Agreement (NAFTA) and the creation of the WTO. The World Trade Organization was officially formed in 1995, as the successor to the General Agreements on Tariffs and Trade (GATT), which was formed in 1944 at the Bretton-Woods Conference. The WTO manages the international liberal trading order.

The first Director-General of the WTO was Peter D. Sutherland, who was previously the director general of GATT, former Attorney General of Ireland, and currently is Chairman of British Petroleum and Goldman Sachs International, as well as being special representative of the United Nations secretary-general for migrations. He is also a member of the board of the Royal Bank of Scotland Group, the Foundation Board of the World Economic Forum, goodwill ambassador to the United Nations Industrial Development Organisation, is a member of the Bilderberg Group, and is European Chairman of the Trilateral Commission, and he was presented with the Robert Schuman Medal for his work on European Integration and the David Rockefeller Award of the Trilateral Commission.[1] Clearly, the WTO was an organ of the western banking elite to be used as a tool in expanding and institutionalizing their control over world trade.

The European Superstate

In 1992, the Maastricht Treaty was signed, which officially formed the European Union in 1993. In 1994, the European Monetary Institute (EMI) was formed, with the European Central Bank (ECB) being formed in 1998, and the single European currency, the Euro, debuting in 1999. In 2004, the European Constitution was to be signed by all 25-member states of the EU, which was a treaty to establish a constitution for the entire European Union.

The Constitution was a move towards creating a European superstate, creating an EU foreign minister, and with it, coordinated foreign policy, with the EU taking over the seat of Britain on the UN Security Council, representing all EU member states, forcing the nations to “actively and unreservedly” follow an EU foreign policy; set out the framework to create an EU defence policy, as an appendage to or separate from NATO; the creation of a European Justice system, with the EU defining “minimum standards in defining offences and setting sentences,” and creates common asylum and immigration policy; and it would also hand over to the EU the power to “ensure co-ordination of economic and employment policies”; and EU law would supercede all law of the member states, thus making the member nations relative to mere provinces within a centralized federal government system.[2]

Vaclav Klaus, President of the Czech Republic, had stated that he feared that the concept of a stronger and more centralized European Union, as “the developments in the E.U. are really dangerous with regard to moving out of a free society and moving more and more toward masterminding control and regulation,” and that, “We [the Czech Republic] spent a half-century under communist eyes. We are more sensitive than some other West Europeans. We feel things, we see things, we touch things that we don’t like. For us, the European Union reminds us of COMECON [Moscow’s organization for economic control of the Soviet bloc].” He elaborated saying that the similarity with COMECON is not ideologically based, but in its structure, “The decisions are made not in your own country. For us who lived through the communist era, this is an issue.”[3]

The Constitution was largely written up by Valéry Giscard d’Estaing, former President of the French Republic from 1974 to 1981. Giscard d’Estaing also happens to be a member of the Bilderberg Group, the Trilateral Commission, and is also a close friend of Henry Kissinger, having co-authored papers with him. In 2005, French and Dutch voters answered the referendums in their countries, in which they rejected the EU Constitution, which required total unanimity in order to pass.

In 2007, a move was undertaken to introduce what was called the Lisbon Treaty, to be approved by all member-states. Giscard d’Estaing wrote an article for the Independent in which he stated that, “The difference between the original Constitution and the present Lisbon Treaty is one of approach, rather than content.” He described the process of creating the Lisbon Treaty: “It was the legal experts for the European Council who were charged with drafting the new text. They have not made any new suggestions. They have taken the original draft constitution, blown it apart into separate elements, and have then attached them, one by one, to existing treaties. The Treaty of Lisbon is thus a catalogue of amendments. It is unpenetrable for the public.” The main difference was that the word “constitution” was removed and banished from the text.[4]

The Telegraph reported that though the Treaty dropped the word “constitution,” it remained the same in “giving the EU the trappings of a global power and cutting national sovereignty.” It contained plans to create an EU President, who “will serve a two and half year term but unlike democratic heads of state he or she will be chosen by Europe’s leaders not by voters” and “will take over key international negotiations from national heads of government.” The Constitution’s “Foreign Minister” becomes the “High Representative,” who “will run a powerful EU diplomatic service and will be more important on the global and European stage than national foreign ministers.” It sets out to create an “Interior Ministry” which will “centralise databases holding fingerprints and DNA,” and “make EU legislation on new police and surveillance powers.” The ability for EU nations to use vetoes will end, and the Treaty “includes a clause hardwiring an EU “legal personality” and ascendancy over national courts.”[5]

One country in Europe has it written into its constitution that it requires a referendum on treaties, and that country is Ireland. In June of 2008, the Irish went to vote on the Treaty of Lisbon, after weeks and months of being badgered by EU politicians and Eurocrats explaining that the Irish “owe” Europe a “Yes” vote because of the benefits the EU had bestowed upon Ireland. History will show, however, that the Irish don’t take kindly to being bossed around and patronized, so when they went to the polls, “No” was on their lips and on their ballots. The Irish thus rejected the Lisbon Treaty.

North American Integration

The Canada-US Free Trade Agreement of 1989, was signed by President George HW Bush and Canadian Prime Minister Brian Mulroney. The FTA had devastating consequences for the people of Canada and the United States, while enriching the corporate and political elite. For example, GDP growth decreased, unemployment increased the most since the Great Depression,[6] and meanwhile, Brian Mulroney entered the corporate world, of which he now sits as a board member of Barrick Gold Corporation, as well as sitting on the International Advisory Board of the Council on Foreign Relations,[7] of which David Rockefeller remains on as Honorary Chairman.

In 1990, the private sector lobbying groups and think tanks began the promotion of the North American Free Trade Agreement (NAFTA) to expand the Canada-US Free Trade Agreement to include Mexico. NAFTA was signed by then Canadian Prime Minister Jean Chrétien, US President George H.W. Bush and Mexican President Carlos Salinas, in 1993, and went into effect in 1994. It was negotiated during a time in which Mexico was undergoing liberal economic reforms, so NAFTA had the effect of cementing those reforms in an “economic constitution for North America.”[8]

David Rockefeller played a role in the push for NAFTA. In 1965, he had founded the Council for Latin America (CLA), which, as he wrote in a 1966 article in Foreign Affairs, was to mobilize private enterprise throughout the hemisphere “to stimulate and support economic integration.” The CLA, David wrote, “provides an effective channel of cooperation between businessmen in the United States and their counterparts in the countries to the south. It also offers a means of continuing communication and consultation with the White House, the State Department and other agencies of our government.”[9]

The CLA later changed its name to the Council of the Americas (CoA) and maintains a very close relationship with the Americas Society, founded at the same time as the CLA, of which David Rockefeller remains to this day as Chairman of both organizations. As David wrote in his autobiography, Memoirs, in the lead up to NAFTA, the Council of the Americas sponsored a Forum of the Americas, which was attended by President George H.W. Bush, which resulted in the call for a “Western Hemisphere free trade area.”[10]

In 1993, David Rockefeller wrote an article for the Wall Street Journal, in the run up to NAFTA, in which he advocated for the signing of NAFTA as essential, describing it as a vital step on the road to fulfilling his life long work, and that, “Everything is in place — after 500 years — to build a true “new world” in the Western Hemisphere,” and further, that “I truly don’t think that “criminal” would be too strong a word to describe an action on our part, such as rejecting Nafta, that would so seriously jeopardize all the good that has been done — and remains to be done.”[11]

In 1994, Mexico entered into a financial crisis, often referred to as the Mexican peso crisis. The 1980s debt crisis, instigated by the Federal Reserve’s interest rate hikes on international loans, caused Mexico to default on its loans. The IMF had to enter the scene with its newly created Structural Adjustment Programs (SAPs) and reform Mexico’s economy along neoliberal economic policies.

In the late 1980s, “the United States accounted for 73 percent of Mexico’s foreign trade,”[12] and when NAFTA came into effect in 1994, it “immediately opened US and Canadian markets to 84 percent of Mexican exports.”[13] Mexico even became a member of the World Trade Organization (WTO). The peso crisis, which began at the end of 1994, with the ascension of Mexican President Zedillo, went into 1995, and the US organized a bailout worth $52 billion.[14] The bailout did not help the Mexican economy, as it was simply funneled into paying back loans to banks, primarily American banks, and the “crisis in 1995 was declared [by the IMF to be] over as soon as the banks and international lenders started to get repaid; but five years after the crisis, workers were just getting back to where they were beforehand.”[15]

In 2002, Robert Pastor, Director of the Center for North American Studies at the American University in Washington, D.C., prepared a report that he presented to the Trilateral Commission meeting of that same year. The report, A North American Community: A Modest Proposal to the Trilateral Commission, advocated a continuation of the policy of “deep integration” in North America, recommending, “a continental plan for infrastructure and transportation, a plan for harmonizing regulatory policies, a customs union, [and] a common currency.”[16] The report advocated the formation of a North American Community and Pastor wrote that, “a majority of the public in all three countries is prepared to join a larger North American country.”[17]

In 2003, prior to Paul Martin becoming Prime Minister of Canada, the Canadian Council of Chief Executives (CCCE), formerly the BCNI, published on their website, a press release in which they, “urged Paul Martin to take the lead in forging a new vision for North America.” Thomas d’Aquino, CEO of the Council, “urged that Mr. Martin champion the idea of a yearly summit of the leaders of Canada, Mexico and the United States in order to give common economic, social and security issues the priority they deserve in a continental, hemispheric and global context.” Among the signatories to this statement were all the Vice Chairmen of the CCCE, including David Emerson, who would go on to join Martin’s Cabinet.[18]

The CCCE then launched the North American Security and Prosperity Initiative, advocating “redefining borders, maximizing regulatory efficiencies, negotiation of a comprehensive resource security pact, reinvigorating the North American defence alliance, and creating a new institutional framework.”[19]

The Independent Task Force on the Future of North America was then launched in 2005, composed of an alliance and joint project between the CCCE in Canada, the Council on Foreign Relations (CFR) in the United States, and the Mexican Council on Foreign Relations in Mexico. A press release was given on March 14, 2005, in which it said, “The chairs and vice-chairs of the Independent Task Force on the Future of North America today issued a statement calling for a North American economic and security community by 2010.”[20]

On March 23, 2005, a mere nine days following the Task Force press release, the leaders of Canada, the US, and Mexico, (Paul Martin, George W. Bush, and Vicente Fox, respectively), announced “the establishment of the Security and Prosperity Partnership of North America,” which constituted a course of “action into a North American framework to confront security and economic challenges.”[21]

Within two months, the Independent Task Force on the Future of North America released their final report, Building a North American Community, proposing the continuation of “deep integration” into the formation of a North American Community, that “applauds the announced ‘Security and Prosperity Partnership of North America,’ but proposes a more ambitious vision of a new community by 2010 and specific recommendations on how to achieve it.”[22]

At the 2006 meeting of the SPP, the creation of a new group was announced, called the North American Competitiveness Council (NACC), made up of corporate leaders from all three countries who produce an annual report and advise the three governments on how to implement the SPP process of “deep integration”. The Secretariat in Canada is the CCCE, and the Secretariat of the group in the US is made up of the US Chamber of Commerce and the Council of the Americas.[23] The Council of the Americas was founded by David Rockefeller, of which he is still Honourary Chairman, and other board members include individuals from J.P. Morgan, Merck, McDonald’s, Ford, the Federal Reserve Bank of New York, General Electric, Chevron, Shell, IBM, ConocoPhillips, Citigroup, Microsoft, Pfizer, Wal-Mart, Exxon, General Motors, Merrill Lynch, Credit Suisse and the US Department of Treasury.[24]

The process of integration is still underway, and the formation of a North American Community is not far off, only to be followed by a North American Union, modeled on the structure of the European Union, with talk of a North American currency being formed in the future,[25] which was even proposed by Canada’s former Governor of the Bank of Canada.[26]

The New World Order in Theory

In a 1997 article of Foreign Affairs, the journal of the Council on Foreign Relations, Anne-Marie Slaughter discussed the theoretical foundations of the New World Order. Building on George HW Bush’s proclamation of a New World Order in 1991, Slaughter wrote that many saw this as “the promise of 1945 fulfilled, a world in which international institutions, led by the United Nations, guaranteed international peace and security with the active support of the world’s major powers.” However, this concept, she explained, was largely infeasible, as “It requires a centralized rule-making authority, a hierarchy of institutions, and universal membership.” Instead, she explains the emergence of what she called a “new medievalism” as opposed to liberal internationalism. “Where liberal internationalists see a need for international rules and institutions to solve states’ problems, the new medievalists proclaim the end of the nation-state,” where “The result is not world government, but global governance. If government denotes the formal exercise of power by established institutions, governance denotes cooperative problem- solving by a changing and often uncertain cast.”[27]

However, Slaughter challenges the assumptions of both the liberal internationalists and the new medievalists, and states that, “The state is not disappearing, it is disaggregating into its separate, functionally distinct parts. These parts—courts, regulatory agencies, executives, and even legislatures—are networking with their counterparts abroad, creating a dense web of relations that constitutes a new, transgovernmental order,” and that, “transgovernmentalism is rapidly becoming the most widespread and effective mode of international governance.”[28] Slaughter was Dean of the Woodrow Wilson School of Public and International Affairs at Princeton University from 2002-2009, is currently Director of Policy Planning for the United States Department of State, and has previously served on the board of the Council on Foreign Relations.

Reconstructing Class Structure Under a World Government

Bank of Canada Governor Mark Carney, a former executive with Goldman Sachs, stated in his speech at the International Economic Forum of the Americas, that, “Globalized product, capital, and labour markets lie at the heart of the New World Order to which we should aspire. However, the next wave of globalization needs to be more firmly grounded and its participants more responsible,” and that, “Within our economies, major stock adjustments in inventories, labour, and capital will be required.” It is worth quoting him at length in saying:

Although global demand and trade levels appear to be approaching bottom, and inventory and labour adjustments have already been substantial, there is still more to come. Unemployment will likely rise further across the G-7, with the sharpest increases still to come in those economies with the least-flexible labour markets. Uncertainty over the employment outlook will weigh on consumption in most major economies for some time. The capital stock adjustment process will take longer, and global investment growth is likely to remain negative well into 2010. This will serve as a significant drag on global growth and can be expected to reduce potential growth in most major economies.[29] [Emphasis added]

In terms of labour adjustments within the New World Order, there are some important and vital factors to take into account. Primary among these concerns is the notion of transnational classes. Capitalism largely functions through class divides, with the ruling class owning the means of production, which, as a class, is subject to its own hierarchy over which those that control and issue currencies preside.

In Western, industrialized nations, there has been a large middle class which thrives on consumption, enriching the upper class bourgeoisie, while the lower class, (or proletariat in Marxist terms), consists of the labour class. In non-western, industrialized nations, generally referred to as the “Third World”, “developing world” or the “Global South” (consisting of Latin America, Africa, and parts of Asia), there is a greater divide in terms in class lines, where there is a ruling class, and a labour class, largely remaining vacant of a vast, educated middle class. Class structures vary from country to country and region to region.

However, in the past several decades, the reality of class structures has been undergoing drastic changes, and with this, the structure of labour has changed. In the past few decades, a concurrent class restructuring has been taking place, in which the middle classes of the world descend into debt bondage while the upper classes of the world have began a process of transnationalizing. What we have witnessed and are witnessing with recent events, is the transnationalization of class structures, and with that, labour forces.

Social Constructivism

A fascinating theoretical school of thought within the field of Global Political Economy is that of Social Constructivism. Social Constructivists argue that, “The social and political world, including the world of international relations, is not a physical entity or material object that is outside human consciousness. Consequently, the study of international relations must focus on the ideas and beliefs that inform the actors on the international scene as well as the shared understandings between them.” Expanding upon this idea:

The international system is not something ‘out there’ like the solar system. It does not exist on its own. It exists only as an intersubjective awareness among people; in that sense the system is constituted by ideas, not by material forces. It is a human invention or creation not of a physical or material kind but of a purely intellectual and ideational kind. It is a set of ideas, a body of thought, a system of norms, which has been arranged by certain people at a particular time and place.

Examples of socially constructed structures within the global political economy are national borders, as they have no physical line, but are rather formed by a shared understanding between various actors as to where the border is. The nation itself is a social construct, as it has no physical, over-arching form, but is made up of a litany of shared values, ideas, concepts, institutions, beliefs and symbols. Thus, “If the thoughts and ideas that enter into the existence of international relations change, then the system itself will change as well, because the system consists in thoughts and ideas. That is the insight behind the oft-repeated phrase by constructivist Alexander Wendt: ‘anarchy is what states make of it’.”[30]

Class Structure and Social Constructivism

William I. Robinson and Jerry Harris write in Science & Society Journal, that, “One process central to capitalist globalization is transnational class formation, which has proceeded in step with the internationalization of capital and the global integration of national productive structures. Given the transnational integration of national economies, the mobility of capital and the global fragmentation and decentralization of accumulation circuits, class formation is progressively less tied to territoriality.”[31] They argued that a Transnational Capitalist Class (TCC) has emerged, “and that this TCC is a global ruling class. It is a ruling class because it controls the levers of an emergent transnational state apparatus and of global decision making.”[32] This class has no borders, and is composed of the technocratic, media, corporate, banking, social and political elite of the world.

As Jackson and Sorenson point out in relation to social constructivist theory, “If ‘anarchy is what states make of it’ there is nothing inevitable or unchangeable about world politics,” and that, “The existing system is a creation of states and if states change their conceptions of who they are, what their interests are, what they want, etc. then the situation will change accordingly.” As an example, they stated that states could decide “to reduce their sovereignty or even to give up their sovereignty. If that happened there would no longer be an international anarchy as we know it. Instead, there would be a brave new, non-anarchical world – perhaps one in which states were subordinate to a world government.”[33]

As Robinson and Harris explain in their essay, with the rise of the Transnational Capitalist Class (TCC), there is also a rise in the apparatus of a Transnational State (TNS), which is “an emerging network that comprises transformed and externally integrated national states, together with the supranational economic and political forums; it has not yet acquired any centralized institutional form.”[34] Among the economic apparatus of the TNS we see the IMF, World Bank, WTO and regional banks. On the political side we see the Group of 7, Group of 22, United Nations, OECD, and the European Union. This was further accelerated with the Trilateral Commission, “which brought together transnationalized fractions of the business, political, and intellectual elite in North America, Europe, and Japan.” Further, the World Economic Forum has made up an important part of this class, and, I might add, the Bilderberg Group. Robinson and Harris point out that, “Studies on building a global economy and transnational management structures flowed out of think tanks, university centers, and policy planning institutes in core countries.”[35]

The TNS apparatus has been a vital principle of organization and socialization for the transnational class, “as have world class universities, transnationally oriented think tanks, the leading bourgeois foundations, such as Harvard’s School of International Business, the Ford [and Rockefeller] and the Carnegie Foundations, [and] policy planning groups such as the Council on Foreign Relations.” These “elite planning groups are important forums for integrating class groups, developing new initiatives, collective strategies, policies and projects of class rule, and forging consensus and a political culture around these projects.”[36]

Robinson and Harris identify the World Economic Forum as “the most comprehensive transnational planning body of the TCC and the quintessential example of a truly global network binding together the TCC in a transnational civil society.”[37] I would take issue with this, and instead propose the Bilderberg Group, of which they make no mention in their article, as THE quintessential transnational planning body of the TCC, as it is composed of the elite of the elite, totally removed from public scrutiny, and acts as “a secretive global think-tank” of the world’s 130 most powerful individuals.[38]

Many Bilderberg critics will claim that the group acts as a “secret world government” or as the organization “that makes all the key decisions for the world.” However, this is not the case. Bilderberg is simply the most influential planning body, sitting atop a grand hierarchy of various planning bodies and institutions, and is itself a key part of the apparatus of the formation of a Transnational State, but is not, in and of itself, a “world government.” It is a global think tank, which holds the concept of a “world government” in high regard and often works to achieve these ends, but it should not be confused with being the end it seeks.

The economic crisis is perhaps the greatest “opportunity” ever given to the TCC in re-shaping the world order according to their designs, ideals and goals. Through destruction, comes creation; and for these high-placed individuals within the TCC, destruction is itself a form of creation.

In terms of reshaping labour and class structures, the economic crisis provides the ground on which a new global class structure will be built. A major problem for the Transnational Capitalist Class and the formation of a Transnational State, or world government, is the lack of continuity in class structures and labour markets throughout the world. A transnational ruling class, or “Superclass” as David Rothkopf referred to it in his book of the same name (and is, himself, a member of the Superclass), has emerged. It has no borders, yet has built a general continuity and consensus of goals among its members, albeit there are differences and conflicts within the class, but they are based upon the means of achieving the stated ends, rather than on the ends itself. There is not dissent within the ruling class on the aims of achieving a world governing body; the dissent is in how to achieve this, and in terms of what kind of structure, theoretical and philosophical leanings, and political orientation such a government would have.

To achieve these ends, however, all classes must be transnationalized, not simply the ruling class. The ruling class is the first class to be transnationalized, because transnationalization was the goal of the ruling classes based in the powerful Western European nations, (and later in the United States), that started the process of transnationalization or internationalization. Now that there is an established “Superclass” of a transnational composition, the other classes must follow suit. The middle class is targeted for elimination in this sense, because most of the world has no middle class, and to fully integrate and internationalize a middle class, this would require industrialization and development in places such as Africa, and certain places in Asia and Latin America, and would represent a massive threat to the Superclass, as it would be a valve through which much of their wealth and power would escape them. Their goal is not to lose their wealth and power to a transnational middle class, but rather to extinguish the notion of a middle class, and transnationalize a lower, uneducated, labour oriented class, through which they will secure ultimate wealth and power.

The economic crisis serves these ends, as whatever remaining wealth the middle class holds is in the process of being eliminated, and as the crisis progresses, or rather, regresses, and accelerates, the middle classes of the world will suffer, while a great percentage of lower classes of the world, poverty-stricken even prior to the crisis, will suffer the greatest, most probably leading to a massive reduction in population levels, particularly in the “developed” or “Third World” states.

Many would take issue with such a thesis as being an objective of the Transnational Capitalist Class, as capitalism needs a large population, specifically a middle class population, in order to have a market of consumers for their products. Though this is true with how we presently understand the capitalist system and structure, we must also take note that capitalism, itself, is always changing and redefining itself. Through a social constructivist perspective, which I would argue, is very apt in this analysis, such a notion is not inconceivable, as if the capitalist class were to redefine capitalism itself, capitalism itself would change.

It must be addressed that there would be a great many individuals within the TCC or Superclass (Rothkopf estimates the number at 6,000 individuals within the ruling class), who would take issue with eliminating their base for profit making, however, as a total restructuring of the capitalist system and global political economy as a whole is undertaken, the TCC itself is not immune to such drastic and rapid changes itself. In fact, it would be unimaginable to think that it would remain as it currently is.

Rothkopf explains that with 6,000 members of the Superclass, that equals roughly one member of the superclass for every 1 million people in the world. As the composition, class structures, and numbers of the world population drastically alter over the next years and decades, so too will the superclass itself. It too, will be subject to a “cleansing” so to speak, in which the big players will collapse and consolidate many of the smaller players.

The Monetary Structure of a Global Government

A Global Currency

Following the April 2009 G20 Summit, leaders issued a communiqué which set the groundwork for the creation of a global currency to replace the US dollar as the world reserve currency. The communiqué stated that, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF’s power to create money and begin global “quantitative easing”. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.”[39]

In 1988, the Economist featured an article called “Get Ready for the Phoenix,” which said, “THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix. The phoenix will be favoured by companies and shoppers because it will be more convenient than today’s national currencies, which by then will seem a quaint cause of much disruption to economic life in the late twentieth century.” The article, written in the wake of the 1987 stock market crash, stated that, “Several more big exchange-rate upsets, a few more stockmarket crashes and probably a slump or two will be needed before politicians are willing to face squarely up to that choice. This points to a muddled sequence of emergency followed by patch-up followed by emergency, stretching out far beyond 2018-except for two things. As time passes, the damage caused by currency instability is gradually going to mount; and the very trends that will make it mount are making the utopia of monetary union feasible.”[emphasis added][40]

Paul Volcker, former Governor of the Federal Reserve System, said in 2000, that, “If we are to have a truly global economy, a single world currency makes sense,” and a member of the Executive Board of the European Central Bank reaffirmed Volcker’s comment, stating that, “we might one day have a single world currency. Maybe European integration, in the same way as any other regional integration, could be seen as a step towards the ideal situation of a fully integrated world. If and when this world will see the light of day is impossible to say. However, what I can say is that this vision seems as impossible now to most of us as a European monetary union seemed 50 years ago, when the process of European integration started.”[41]

A Central Bank of the World

Jeffrey Garten has written several articles calling for the creation of a global central bank, or a “global fed.” Garten was former Dean of the Yale School of Management, former Undersecretary of Commerce for International Trade in the Clinton administration, previously served on the White House Council on International Economic Policy under the Nixon administration and on the policy planning staffs of Secretaries of State Henry Kissinger and Cyrus Vance of the Ford and Carter administrations, former Managing Director at Lehman Brothers, and is a member of the Council on Foreign Relations.

In 1998, he wrote an article for the New York Times stating that the world “needs a global central bank,” and that, “An independent central bank with responsibility for maintaining global financial stability is the only way out. No one else can do what is needed: inject more money into the system to spur growth, reduce the sky-high debts of emerging markets, and oversee the operations of shaky financial institutions. A global central bank could provide more money to the world economy when it is rapidly losing steam.”[42]

Following the outbreak of the current financial crisis, Garten wrote an article for the Financial Times in which he called for the “establishment of a Global Monetary Authority to oversee markets that have become borderless.”[43] In October of 2008, he wrote an article for Newsweek stating that, “leaders should begin laying the groundwork for establishing a global central bank.” He explained that, “There was a time when the U.S. Federal Reserve played this role [as governing financial authority of the world], as the prime financial institution of the world’s most powerful economy, overseeing the one global currency. But with the growth of capital markets, the rise of currencies like the euro and the emergence of powerful players such as China, the shift of wealth to Asia and the Persian Gulf and, of course, the deep-seated problems in the American economy itself, the Fed no longer has the capability to lead single-handedly.”[44]

Regionalism

Building upon the model of the European Union, the world is being divided into large continental regional blocs, with regional monetary systems and governments. This will make up the managed blocs of a global government, and mark a significant process in the “hard road to world order,” as Richard N. Gardner called it, in which national sovereignty is eroded piece by piece. Regionalism marks the current phase of the move to the formation of a global government. Friedrich List critiqued liberal cosmopolitanism, stating that economic integration had never preceded political integration, however the elites have and are successfully challenging this notion. In the New World Order, economic integration is preceding political integration into a world governance structure.

The European Union began as a series of free trade agreements, became a monetary union, and is in the process of being formed into a single continental superstate. North American integration began with a series of free trade agreements, defense and security agreements, and is in the process of moving towards monetary and bureaucratic integration into a North American Community. A Union and North American superstate are not far in the distance. A North American currency is openly discussed and proposed by leading think tanks, billionaire investors, as well as the Governor of the Bank of Canada. The likely name of such a currency is the Amero.[45]

Meanwhile, globally, markets are heavily integrating. In 2007, it was reported that the European Union and the United States were beginning the process of transatlantic economic integration.[46] In 2008, it was announced that, “Canadian and European officials say they plan to begin negotiating a massive agreement to integrate Canada’s economy with the 27 nations of the European Union,” under “deep economic integration negotiations,” and “The proposed pact would far exceed the scope of older agreements such as NAFTA.”[47] This, essentially, is a means of integrating with the North American Community before the Community is officially formed; an act of pre-emptive integration.

In 2007, the Council on Foreign Relations journal, Foreign Affairs, ran an article titled, “The End of National Currency.” Discussing the volatility of national currencies, the article stated that, “The right course is not to return to a mythical past of monetary sovereignty, with governments controlling local interest and exchange rates in blissful ignorance of the rest of the world. Governments must let go of the fatal notion that nationhood requires them to make and control the money used in their territory. National currencies and global markets simply do not mix; together they make a deadly brew of currency crises and geopolitical tension and create ready pretexts for damaging protectionism. In order to globalize safely, countries should abandon monetary nationalism and abolish unwanted currencies, the source of much of today’s instability.”

Further, “Monetary nationalism is simply incompatible with globalization. It has always been, even if this has only become apparent since the 1970s, when all the world’s governments rendered their currencies intrinsically worthless.” The author states that, “Since economic development outside the process of globalization is no longer possible, countries should abandon monetary nationalism. Governments should replace national currencies with the dollar or the euro or, in the case of Asia, collaborate to produce a new multinational currency over a comparably large and economically diversified area.”[48]

In 2008, the Union of South American Nations (UNASUR) was formed, “a regional body aimed at boosting economic and political integration in the region,”[49] which will “seek a common currency as part of the region’s integration efforts,” as well as a common central bank.[50]

The Gulf Cooperation Council, a regional bloc of Arab Middle Eastern governments, is pursuing economic integration in the form of a common central bank and a common currency.[51] Similarly, there has been much discussion of an Asian Monetary Union and East Asian economic integration, specifically being touted as a solution to the prevention of future economic crises in East Asia like that which hit it in 1997.[52] Integration would be modeled upon the East Asian regional block of ASEAN (Association of Southeast Asian Nations), and in 2008, “ASEAN bank deputy governors and financial deputy ministers have met in Vietnam’s central Da Nang city, discussing issues on the financial and monetary integration and cooperation in the region.”[53] Further, Africa is being organized as a regional bloc under the African Union, and is also pursuing regional economic integration, and has even set the agenda for the creation of a continental African central bank and the formation of a single African currency.[54]

In 2006, the Bank for International Settlements “suggested ditching many national currencies in favour of a small number of formal currency blocks based on the dollar, euro and renminbi or yen.”[55]

Constructing the Political Structure of a Global Government

Strobe Talbott, Deputy Secretary of State in the Clinton administration from 1994 to 2001, is also a member of the Council on Foreign Relations and the Trilateral Commission and is currently President of the Brookings Institution, a prominent US think tank. In 1992, before becoming Deputy Secretary of State, he wrote an article for Time Magazine originally titled, “The Birth of the Global Nation,” which has now, in the Time Magazine archives, been renamed “America Abroad.” In the article, he states that within the next 100 years, “nationhood as we know it will be obsolete; all states will recognize a single, global authority. A phrase briefly fashionable in the mid-20th century — “citizen of the world” — will have assumed real meaning by the end of the 21st.”

Interestingly, Talbott endorses the social constructivist perspective of nation-states and international order, stating that, “All countries are basically social arrangements, accommodations to changing circumstances. No matter how permanent and even sacred they may seem at any one time, in fact they are all artificial and temporary. Through the ages, there has been an overall trend toward larger units claiming sovereignty and, paradoxically, a gradual diminution of how much true sovereignty any one country actually has.”

He explained that empires “were a powerful force for obliterating natural and demographic barriers and forging connections among far-flung parts of the world,” and following that, “Empire eventually yielded to the nation-state,” and that, “The main goal driving the process of political expansion and consolidation was conquest. The big absorbed the small, the strong the weak. National might made international right. Such a world was in a more or less constant state of war.” Talbott states that, “perhaps national sovereignty wasn’t such a great idea after all.”

He continued, saying that, “it has taken the events in our own wondrous and terrible century to clinch the case for world government. With the advent of electricity, radio and air travel, the planet has become smaller than ever, its commercial life freer, its nations more interdependent and its conflicts bloodier.” Further, “Each world war inspired the creation of an international organization, the League of Nations in the 1920s and the United Nations in the ’40s.” He explained, “The plot thickened with the heavy-breathing arrival on the scene of a new species of ideology — expansionist totalitarianism — as perpetrated by the Nazis and the Soviets. It threatened the very idea of democracy and divided the world. [Thus] The advocacy of any kind of world government became highly suspect.” However, as Talbott points out, Soviet expansion led the way for NATO expansion, and “The cold war also saw the European Community pioneer the kind of regional cohesion that may pave the way for globalism.”

On top of that, “the free world formed multilateral financial institutions that depend on member states’ willingness to give up a degree of sovereignty. The International Monetary Fund can virtually dictate fiscal policies, even including how much tax a government should levy on its citizens. The General Agreement on Tariffs and Trade regulates how much duty a nation can charge on imports. These organizations can be seen as the protoministries of trade, finance and development for a united world.” In addressing crises, Talbott wrote that, “Globalization has also contributed to the spread of terrorism, drug trafficking, AIDS and environmental degradation. But because those threats are more than any one nation can cope with on its own, they constitute an incentive for international cooperation.” Thus, out of crisis, comes opportunity; out of chaos comes order.

In prescribing a solution, Talbott postulates that, “The best mechanism for democracy, whether at the level of the multinational state or that of the planet as a whole, is not an all-powerful Leviathan or centralized superstate, but a federation, a union of separate states that allocate certain powers to a central government while retaining many others for themselves.”[56]

In a 1974 issue of Foreign Affairs, Richard N. Gardner wrote about the formation of the New World Order. Gardner, a former American ambassador to the United Nations, Italy and Spain, is also a member of the Trilateral Commission. In his article, The Hard Road to World Order, Gardner wrote that, “The quest for a world structure that secures peace, advances human rights and provides the conditions for economic progress—for what is loosely called world order—has never seemed more frustrating but at the same time strangely hopeful.”[57] He explained that, “few people retain much confidence in the more ambitious strategies for world order that bad wide backing a generation ago—‘world federalism,’ ‘charter review,’ and “world peace through world law’.” Further, “The same considerations suggest the doubtful utility of bolding a [UN] Charter review conference.”[58]

Gardner wrote, “If instant world government, Charter review, and a greatly strengthened International Court do not provide the answers, what hope for progress is there? The answer will not satisfy those who seek simple solutions to complex problems, but it comes down essentially to this: The hope for the foreseeable future lies, not in building up a few ambitious central institutions of universal membership and general jurisdiction as was envisaged at the end of the last war, but rather in the much more decentralized, disorderly and pragmatic process of inventing or adapting institutions of limited jurisdiction and selected membership to deal with specific problems on a case-by-case basis, as the necessity for cooperation is perceived by the relevant nations.”

He then stated, “In short, the “house of world order” will have to be built from the bottom up rather than from the top down. It will look like a great “booming, buzzing confusion,” to use William James’ famous description of reality, but an end run around national sovereignty, eroding it piece by piece, will accomplish much more than the old-fashioned frontal assault.”[59]

In the 2001 issue of Foreign Affairs, Richard Falk and Andrew Strauss wrote an article titled, “Toward Global Parliament.” They wrote that, “International governance is no longer limited to such traditional fare as defining international borders, protecting diplomats, and proscribing the use of force. Many issues of global policy that directly affect citizens are now being shaped by the international system. Workers can lose their jobs as a result of decisions made at the WTO or within regional trade regimes.”[60] In 2006, a UN report stated that, “the nation-state is an old-fashioned concept that has no role to play in a modern globalised world.”[61]

Further, “As with citizen groups, elite business participation in the international system is becoming institutionalized. The best example is the World Economic Forum in Davos, Switzerland. In the 1980s, the WEF transformed itself from an organization devoted to humdrum management issues into a dynamic political forum. Once a year, a thousand of the world s most powerful business executives get together with another thousand of the world’s senior policymakers to participate in a week of roundtables and presentations. The WEF also provides ongoing arenas for discussion and recommendations on shaping global policy.” They continue in explaining that, “The Davos assembly and overlapping networks of corporate elites, such as the International Chamber of Commerce, have been successful in shaping compatible global policies. Their success has come in the expansion of international trade regimes, the modest regulation of capital markets, the dominance of neoliberal market philosophy, and the supportive collaboration of most governments, especially those of rich countries.”[62]

In explaining the purpose of a global parliament, essentially to address the “democratic deficit” created by international organizations, the authors wrote that, “Some business leaders would certainly oppose a global parliament because it would broaden popular decision-making and likely press for transnational regulations. But others are coming to believe that the democratic deficit must be closed by some sort of stakeholder accommodation. After all, many members of the managerial class who were initially hostile to such reform came to realize that the New Deal—or its social-democratic equivalent in Europe—was necessary to save capitalism. Many business leaders today similarly agree that democratization is necessary to make globalization politically acceptable throughout the world.” Essentially, its purpose would be to give globalization “grassroots acceptance and legitimacy.”[63]

David Rothkopf, a scholar at the Carnegie Endowment for International Peace, former Deputy Undersecretary of Commerce for International Trade in the Clinton administration, former managing director of Kissinger and Associates, and a member of the Council on Foreign Relations, recently wrote a book titled, Superclass: The Global Power Elite and the World They are Making. As a member of that “superclass,” his writing should provide a necessary insight into the construction of this “New World Order.” He states that, “In a world of global movements and threats that don’t present their passports at national borders, it is no longer possible for a nation-state acting alone to fulfill its portion of the social contract.” He wrote that, “progress will continue to be made,” however, it will be challenging, because it “undercuts many national and local power structures and cultural concepts that have foundations deep in the bedrock of human civilization, namely the notion of sovereignty.” He further wrote that, “Mechanisms of global governance are more achievable in today’s environment,” and that these mechanisms “are often creative with temporary solutions to urgent problems that cannot wait for the world to embrace a bigger and more controversial idea like real global government.”[64]

Jacques Attali, founder and former President of the European Bank for Reconstruction and Development, and economic adviser to French President Nicholas Sarkozy, interviewed on EuroNews, said that, “either we’re heading towards a world government or we’re going to put national issues first.” The interviewer stated that the idea of world government will frighten many people, to which Attali responded, “Indeed, that’s only to be expected, because it seems like a fantasy. But there is already global authority in many areas,” and that, “even if it’s hard to think of a European government at the moment, which is there, but very weak, Europe can at least press on its experience to the world. If they’re not capable of creating an economic framework along side a political framework, then they’re never going to do it on a global scale. And then the world economic model will break up, and we’ll be back to the Great Depression.”[65]

In December of 2008, the Financial Times published an article titled, “And Now for A World Government,” in which the author, former Bilderberg attendee, Gideon Rachman, wrote that, “for the first time in my life, I think the formation of some sort of world government is plausible,” and that, “A ‘world government’ would involve much more than co-operation between nations. It would be an entity with state-like characteristics, backed by a body of laws. The European Union has already set up a continental government for 27 countries, which could be a model. The EU has a supreme court, a currency, thousands of pages of law, a large civil service and the ability to deploy military force.”

He stated that, “it is increasingly clear that the most difficult issues facing national governments are international in nature: there is global warming, a global financial crisis and a ‘global war on terror’.” He wrote that the European model could “go global” and that a world government “could be done,” as “The financial crisis and climate change are pushing national governments towards global solutions, even in countries such as China and the US that are traditionally fierce guardians of national sovereignty.” He quoted an adviser to French President Nicolas Sarkozy as saying, “Global governance is just a euphemism for global government,” and that the “core of the international financial crisis is that we have global financial markets and no global rule of law.” However, Rachman states that any push towards a global government “will be a painful, slow process.” He then states that a key problem in this push can be explained with an example from the EU, which “has suffered a series of humiliating defeats in referendums, when plans for ‘ever closer union’ have been referred to the voters. In general, the Union has progressed fastest when far-reaching deals have been agreed by technocrats and politicians – and then pushed through without direct reference to the voters. International governance tends to be effective, only when it is anti-democratic. [Emphasis added]”[66]

In November of 2008, the United States National Intelligence Council (NIC), the US intelligence community’s “center for midterm and long-term strategic thinking,” released a report that it produced in collaboration with numerous think tanks, consulting firms, academic institutions and hundreds of other experts, among them are the Atlantic Council of the United States, the Wilson Center, RAND Corporation, the Brookings Institution, American Enterprise Institute, Texas A&M University, the Council on Foreign Relations and Chatham House in London.[67]

Outlining the global trends that the world will be going through up to the year 2025, the report states that the financial crisis “will require long-term efforts to establish a new international system.” It suggests that as the “China-model” for development becomes increasingly attractive, there may be a “decline in democratization” for emerging economies, authoritarian regimes, and “weak democracies frustrated by years of economic underperformance.” Further, the dollar will cease to be the global reserve currency, as there would likely be a “move away from the dollar.”[68]

Further, the dollar will become “something of a first among equals in a basket of currencies by 2025. This could occur suddenly in the wake of a crisis, or gradually with global rebalancing.”[69] The report elaborates on the construction of a new international system, stating that, “By 2025, nation-states will no longer be the only – and often not the most important – actors on the world stage and the ‘international system’ will have morphed to accommodate the new reality. But the transformation will be incomplete and uneven.” Further, it would be “unlikely to see an overarching, comprehensive, unitary approach to global governance. Current trends suggest that global governance in 2025 will be a patchwork of overlapping, often ad hoc and fragmented efforts, with shifting coalitions of member nations, international organizations, social movements, NGOs, philanthropic foundations, and companies.” It also notes that, “Most of the pressing transnational problems – including climate change, regulation of globalized financial markets, migration, failing states, crime networks, etc. – are unlikely to be effectively resolved by the actions of individual nation-states. The need for effective global governance will increase faster than existing mechanisms can respond.”[70]

The report discusses regionalism, and stated that, “Asian regionalism would have global implications, possibly sparking or reinforcing a trend toward three trade and financial clusters that could become quasi-blocs (North America, Europe, and East Asia).” These blocs “would have implications for the ability to achieve future global World Trade Organization agreements and regional clusters could compete in the setting of trans-regional product standards for IT, biotech, nanotech, intellectual property rights, and other ‘new economy’ products.”[71]

In discussing democracy and democratization, the report stated that, “advances are likely to slow and globalization will subject many recently democratized countries to increasing social and economic pressures that could undermine liberal institutions.” This is largely because “the better economic performance of many authoritarian governments could sow doubts among some about democracy as the best form of government.  The surveys we consulted indicated that many East Asians put greater emphasis on good management, including increasing standards of livings, than democracy.” Further, “even in many well-established democracies, surveys show growing frustration with the current workings of democratic government and questioning among elites over the ability of democratic governments to take the bold actions necessary to deal rapidly and effectively with the growing number of transnational challenges.”[72] In other words, “well established democracies,” such as those in Western Europe and North America, will, through successive crises (climate, finance, war), erode and replace their democratic systems of government with totalitarian structures that are able to “take the bold actions necessary” to deal with “transnational challenges.”

David Rockefeller wrote in his book, Memoirs, that, “For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure–one world, if you will. If that’s the charge, I stand guilty, and I am proud of it.” (Empahsis added) [73]

The Global Economic Crisis in Context

The current global economic crisis has its roots not in the Bush administration, which is linear and diluted thinking at best, but in the systematic nature of the global capitalist system. Crisis is not separate from capital; crisis is capitalist expansion. In addressing the foundations of the economic crisis, neo-Marxist theory can help explain much of the actions and functions that led to the crisis.

In 2006, Walden Bello wrote an article for Third World Quarterly, in which he explained that, “The crisis of globalisation and over-accumulation is one of the three central crises that are currently eroding US hegemony. The other two are the over-extension of US military power and the crisis of legitimacy of liberal democracy.” He explained that, “Monetary manipulation, via the high interest rate regime initiated by Federal Reserve Chief Paul Volcker in the late 1980s, while directed at fighting inflation, was also geared strategically at channeling global savings to the USA to fuel economic expansion. One key consequence of this momentous move was the Third World debt crisis of the early 1980s, which ended the boom of the economies of the South and led to their resubordination to the Northern capitalist centres.”[74]

The economic foundations of the current crisis were laid in the “Clinton globalist project.” As Bello explained, “The administration embraced globalisation as its ‘Grand Strategy’—that is, its fundamental foreign policy posture towards the world.” Further, “The dominant position of the USA allowed the liberal faction of the US capitalist class to act as a leading edge of a transnational ruling elite in the process of formation—a transnational elite alliance that could act to promote the comprehensive interest of the international capitalist class.”[75]

Bello then explained that, “the dominant dynamic of global capitalism during the Clinton period—one that was the source of its strength as well as its Achilles’ Heel—was not the movement of productive capital but the gyrations of finance capital.” The dominance of finance capital was “a result of the declining profitability of industry brought about by the crisis of overproduction. By 1997 profits in US industry had stopped growing. Financial speculation, or what one might conceptualise as the squeezing of value from already created value, became the most dynamic source of profitability.” This was termed “financialization,” and it had many components that composed its structure and led way for its dominance. Among these were the “Elimination of restrictions dating back to the 1930s that had created a Chinese Wall between investment banking and commercial banking in the USA opened up a new era of rapid consolidation in the US financial sector.”[76]

Specifically, this is in reference to the repealing of the Glass-Steagall Act, put in place in 1933 in response to the actions that created the Great Depression, which undertook banking reforms, specifically those designed to limit speculation. In 1987, the Federal Reserve Board voted to ease regulations under Glass-Steagall, after hearing “proposals from Citicorp, J.P. Morgan and Bankers Trust advocating the loosening of Glass-Steagall restrictions to allow banks to handle several underwriting businesses, including commercial paper, municipal revenue bonds, and mortgage-backed securities.” And, “In August 1987, Alan Greenspan — formerly a director of J.P. Morgan and a proponent of banking deregulation – [became] chairman of the Federal Reserve Board.” In 1989, “the Fed Board approve[d] an application by J.P. Morgan, Chase Manhattan, Bankers Trust, and Citicorp to expand the Glass-Steagall loophole to include dealing in debt and equity securities in addition to municipal securities and commercial paper.” In 1990, “J.P. Morgan [became] the first bank to receive permission from the Federal Reserve to underwrite securities.”

In 1998, the House of Representatives passed “legislation by a vote of 214 to 213 that allow[ed] for the merging of banks, securities firms, and insurance companies into huge financial conglomerates.” And in 1999, “After 12 attempts in 25 years, Congress finally repeal[ed] Glass-Steagall, rewarding financial companies for more than 20 years and $300 million worth of lobbying efforts.”[77]

It was in “the late 1990s, with the stock market surging to unimaginable heights, large banks merging with and swallowing up smaller banks, and a huge increase in banks having transnational branches, Wall Street and its many friends in congress wanted to eliminate the regulations that had been intended to protect investors and stabilize the financial system. Hence the Gramm-Leach-Bliley Act of 1999 repealed key parts of Glass-Steagall and the Bank Holding Act and allowed commercial and investment banks to merge, to offer home mortgage loans, sell securities and stocks, and offer insurance.”[78]

One of the architects of the repeal of Glass-Steagall was Clinton Treasury Secretary Robert Rubin. Rubin spent 26 years with Goldman Sachs before entering the Treasury. Robert Rubin worked closely with Alan Greenspan to oppose the regulation of derivatives, and was backed up by his Deputy Treasury Secretary, Lawrence Summers. Rubin, upon leaving the Treasury, went to work as an executive with Citigroup.[79] Robert Rubin is currently the Co-Chairman of the Council on Foreign Relations. Lawrence Summers was a former Chief Economist for the World Bank before being Deputy Treasury Secretary in the Clinton administration. He then became President of Harvard University, and is now Director of the White House National Economic Council in the Obama administration. The current Treasury Secretary, Timothy Geithner, was former President of the Federal Reserve Bank of New York, and is also a Robert Rubin protégé.

The Clinton years saw the rise of derivatives, which are financial instruments (or contracts), the prices of which are derived from one or more underlying assets, indexes, or other items. The value of a derivative changes as the value of the underlying asset changes. They are used to hedge risks but also as instruments of speculation. Derivatives, “which monetised and traded risk in the exchange of a whole range of commodities,” are a key factor that led to the economic crisis.

Another cause of the crisis was “The creation of massive consumer credit to fuel consumption, with much of the source of this capital coming from foreign investors,” which “created a dangerous gap between the consumers’ debt and their income, opening up the possibility of consumer collapse or default that would carry away both consumers and their creditors.” Further, the stock market’s role in driving growth played a part in paving the way for a financial crisis. “Stock market activity drove, in particular, the so-called technology sector, creating a condition of ‘virtual capitalism’ whose dynamics were based on the expectation of future profitability rather than on current performance, which was the iron rule in the ‘real economy’.”[80]

The Federal Reserve, under Alan Greenspan, initially created the dot-com bubble, providing liquidity for speculation into the stock market and “virtual capitalism,”[81] and when that dot-com bubble burst, as all bubbles do, Greenspan and the Fed created the housing bubble by cutting interests rates and offering more Adjustable Rate Mortgages (AMRs), with Fannie Mae and Freddie Mac encouraging banks to make the high-risk loans.[82]

Speculation had proven itself to be a powerful weapon of finance capital. In the 1990s, this was first exemplified by “a speculative attack on the peso that had investors in panic cashing their pesos for dollars, leading to the devaluation and collapse of the Mexican economy in 1994,” and later in “East Asia in 1997. One hundred billion dollars in speculative capital flooded into the region between 1994 and 1997 as countries liberalised their capital accounts.” This speculative money flowed into real estate and the stock market, which resulted in over-investment, and “Smelling crisis in the air, hedge funds and other speculators targeted the Thai baht, Korean won and other currencies, triggering a massive financial panic that led to the drastic devaluation of these currencies and laid low Asia’s tiger economies. In a few short weeks in the summer of 1997 some $100 billion rushed out of the Asian economies, leading to a drastic reversal of the sizzling growth that had marked those economies in the preceding decade. In less than a month, some 21 million Indonesians and one million Thais found themselves thrust under the poverty line.”[83] This was known as the East Asian Financial Crisis.

This crisis “helped precipitate the Russian financial crisis in 1998, as well as financial troubles in Brazil and Argentina that contributed to the spectacular unraveling of Argentina’s economy in 2001 and 2002, when the economy that had distinguished itself as the most faithful follower of the IMF’s prescriptions of trade and financial liberalisation found itself forced to declare a default on $100 billion of its $140 billion external debt.”[84]

The current crisis is not over. The parallels between the current crisis and the Great Depression are frightening. This trend of building speculative bubbles is reminiscent of the 1920s stock market speculation-driven bubble; built by the Federal Reserve, which eased interest rates, provided liquidity to the banks and actively encouraged speculation. Bubbles that were created then burst.

In 1932, Congressman Louis T. McFadden stated before the Congress that the Federal Reserve banks are not government agencies, but “are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”[85] Following the creation of the Fed in 1913, Congressman Charles A. Lindbergh said, “From now on, depressions will be scientifically created.” Indeed, he was right. The current crisis, likely leading to a Great Depression, is being used as the primary means through which a global government is being constructed.

In 2007, UK Prime Minister Gordon Brown called for a new world order in reforming the UN, World Bank, IMF and G7.[86] When the bank Bear Stearns collapsed, due to its heavy participation in the mortgage securities market, the Federal Reserve purchased the bank for JP Morgan Chase, whose CEO sits on the board of the New York Federal Reserve Bank. Shortly after this action, a major financial firm released a report saying that banks face a “new world order” of “consolidation and acquisitions.”[87]

In October of 2008, Gordon Brown said that we “must have a new Bretton Woods – building a new international financial architecture for the years ahead.” He continued in saying that, “we must now reform the international financial system around the agreed principles of transparency, integrity, responsibility, good housekeeping and co-operation across borders.” An article in the Telegraph reported that Gordon Brown would want “to see the IMF reformed to become a ‘global central bank’ closely monitoring the international economy and financial system.”[88] In an op-ed for the Washington Post, Gordon Brown wrote that the “new Bretton Woods” should build upon the concept of  “global governance.”[89] There were also calls for a “global economic policeman,” perhaps in the form of the Bank for International Settlements (BIS).[90] In November of 2008, it was reported that Baron David de Rothschild “shares most people’s view that there is a new world order. In his opinion, banks will deleverage and there will be a new form of global governance.”[91]

Out of the ashes of the financial crisis, a new world order will emerge in constructing a global government.

Notes

[1]        Membership, Peter Sutherland. The Trilateral Commission: October 2007: http://www.trilateral.org/membship/bios/ps.htm

[2]        Daily Mail, EU Constitution – the main points. The Daily Mail: June 19, 2004: http://www.dailymail.co.uk/news/article-307249/EU-Constitution–main-points.html

[3]        Time, 10 Questions For Vaclav Klaus. Time Magazine: March 13, 2005: http://www.time.com/time/magazine/article/0,9171,1037613,00.html

[4]        Valéry Giscard d’Estaing, Valéry Giscard d’Estaing: The EU Treaty is the same as the Constitution. The Independent: October 30, 2007: http://www.independent.co.uk/opinion/commentators/valeacutery-giscard-destaing-the-eu-treaty-is-the-same-as-the-constitution-398286.html

[5]        Bruno Waterfield, Lisbon Treaty resurrects the defeated EU Constitution. The Telegraph: June 13, 2008: http://www.telegraph.co.uk/news/newstopics/eureferendum/2123045/EU-Treaty-Lisbon-Treaty-resurrected-defeated-EU-Constitution.html

[6]        Mel Hurtig, The Vanishing Country: Is It Too Late to Save Canada? (McClelland & Stewart Ltd., 2002), page 365

[7]        CFR, Brian Mulroney. About US, Leadership and Staff: International Advisory Board: http://www.cfr.org/bios/9841/brian_mulroney.html

[8]        Robert O’Brien and Marc Williams, Global Political Economy: Evolution and Dynamics, 2nd ed. (Palgrave Macmillan: 2007), page 226

[9]        David Rockefeller, What Private Enterprise Means to Latin America. Foreign Affairs: Vol. 44, No. 3 (April, 1966): page 411

[10]      David Rockefeller, Memoirs. New York: Random House: 2002: Pages 436-437

[11]      David Rockefeller, A hemisphere in the balance. The Wall Street Journal: October 1, 1993

[12]      Alexander Dawson, First World Dreams: Mexico Since 1989. Fernwood Books, 2006: Pages 8-9

[13]      Alexander Dawson, First World Dreams: Mexico Since 1989. Fernwood Books, 2006: Page 29

[14]      Alexander Dawson, First World Dreams: Mexico Since 1989. Fernwood Books, 2006: Page 120

[15]      Joseph Stiglitz, Globalization and its Discontents. W.W. Norton & Co.: 2003: page 121

[16]      Robert Pastor, A North American Community: A Modest Proposal to the Trilateral Commission. The Trilateral Commission: Toronto, Ontario: November 1-2, 2002: www.american.edu/internationalaffairs/cnas/PastorTrilateral.pdf : page 4

[17]      Robert Pastor, A North American Community: A Modest Proposal to the Trilateral Commission. The Trilateral Commission: Toronto, Ontario: November 1-2, 2002: www.american.edu/internationalaffairs/cnas/PastorTrilateral.pdf : page 6

[18]      News and Information, Paul Martin Urged to Take the Lead in Forging a New Vision for North American Cooperation. CCCE: November 5, 2003: http://www.ceocouncil.ca/en/view/?document_id=38&type_id=1

[19]      CCCE, North American Security and Prosperity. http://www.ceocouncil.ca/en/north/north.php

[20]      News and Information, Trinational Call for a North American Economic and Security Community by 2010. CCCE: March 14, 2005: http://www.ceocouncil.ca/en/view/?document_id=395

[21]      Office of the Press Secretary, Joint Statement by President Bush, President Fox, and Prime Minister Martin. The White House: March 23, 2005: http://www.whitehouse.gov/news/releases/2005/03/20050323-2.html

[22]      CFR, Building a North American Community. Independent Task Force on the Future of North America: May 2005: http://www.cfr.org/publication/8102/building_a_north_american_community.html

[23]      Issues Center, North American Competitiveness Council (NACC). US Chamber of Commerce: http://www.uschamber.com/issues/index/international/nacc.htm

[24]      CoA, Board of Directors. The Council of the Americas: http://coa.counciloftheamericas.org/page.php?k=bod

[25]      Herbert Grubel, Fix the Loonie. The Financial Post: January 18, 2008:

http://www.nationalpost.com/opinion/story.html?id=245165

Herbert Grubel, The Case for the Amero. The Fraser Institute: September 1, 1999:

http://www.fraserinstitute.org/Commerce.Web/publication_details.aspx?pubID=2512

Thomas Courchene and Richard Harris, From Fixing to Monetary Union: Options for  North American Currency Integration. C.D. Howe Institute, June 1999:

http://www.cdhowe.org/display.cfm?page=research-fiscal&year=1999

Consider a Continental Currency, Jarislowsky Says. The Globe and Mail: November  23, 2007:

http://www.theglobeandmail.com/servlet/story/LAC.20071123.RDOLLAR23/TPStory/?query=%22Steven%2BChase%22b

[26]      Barrie McKenna, Dodge Says Single Currency ‘Possible’. The Globe and Mail: May 21, 2007

[27]      Anne-Marie Slaughter, The Real New World Order. Foreign Affairs: September/October, 1997: pages 183-184

[28]      Anne-Marie Slaughter, The Real New World Order. Foreign Affairs: September/October, 1997: pages 184-185

[29]      Mark Carney, Remarks by Mark Carney, Governor of the Bank of Canada to the International Economic Forum of the Americas / Conference of Montreal. The Bank of Canada: June 11, 2009: http://www.bankofcanada.ca/en/speeches/2009/sp110609.html

[30]      Robert Jackson and Georg Sørensen, Introduction to International Relations: Theories and Approaches, Third Edition, OUP 2006: page 162

[31]      William I. Robinson and Jerry Harris, Towards a Global Ruling Class? Globalization and the Transnational Capitalist Class. Science & Society, Vol. 64, No. 1, Spring 2000: pages 11-12

[32]      William I. Robinson and Jerry Harris, Towards a Global Ruling Class? Globalization and the Transnational Capitalist Class. Science & Society, Vol. 64, No. 1, Spring 2000: page 12

[33]      Robert Jackson and Georg Sørensen, Introduction to International Relations: Theories and Approaches, Third Edition, OUP 2006: page 258

[34]      William I. Robinson and Jerry Harris, Towards a Global Ruling Class? Globalization and the Transnational Capitalist Class. Science & Society, Vol. 64, No. 1, Spring 2000: page 27

[35]      William I. Robinson and Jerry Harris, Towards a Global Ruling Class? Globalization and the Transnational Capitalist Class. Science & Society, Vol. 64, No. 1, Spring 2000: page 28

[36]      William I. Robinson and Jerry Harris, Towards a Global Ruling Class? Globalization and the Transnational Capitalist Class. Science & Society, Vol. 64, No. 1, Spring 2000: page 29

[37]      William I. Robinson and Jerry Harris, Towards a Global Ruling Class? Globalization and the Transnational Capitalist Class. Science & Society, Vol. 64, No. 1, Spring 2000: page 30

[38]      Glen McGregor, Secretive power brokers meeting coming to Ottawa? Ottawa Citizen: May 24, 2006: http://www.canada.com/topics/news/world/story.html?id=ff614eb8-02cc-41a3-a42d-30642def1421&k=62840

[39]      Ambrose Evans-Pritchard, The G20 moves the world a step closer to a global currency. The Telegraph: April 3, 2009: http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html

[40]      Get ready for the phoenix. The Economist: Vol. 306: January 9, 1988: pages 9-10

[41]      ECB, The euro and the dollar – new imperatives for policy co-ordination. Speeches and Interviews: September 18, 2000: http://www.ecb.int/press/key/date/2000/html/sp000918.en.html

[42]      Jeffrey E. Garten, Needed: A Fed for the World. The New York Times: September 23, 1998: http://www.nytimes.com/1998/09/23/opinion/needed-a-fed-for-the-world.html

[43]      Jeffrey Garten, Global authority can fill financial vacuum. The Financial Times: September 25, 2008: http://www.ft.com/cms/s/0/7caf543e-8b13-11dd-b634-0000779fd18c.html?nclick_check=1

[44]      Jeffrey Garten, We Need a Bank Of the World. Newsweek: October 25, 2008: http://www.newsweek.com/id/165772

[45]      Andrew Gavin Marshall, North-American Monetary Integration: Here Comes the Amero. Global Research: January 20, 2008: http://www.globalresearch.ca/index.php?context=va&aid=7854

[46]      Commission Européenne, EU and US to sign up to transatlantic economic integration plan at Washington Summit on 30 April. UN: April 27, 2007: http://www.eu-un.europa.eu/articles/fr/article_6987_fr.htm

[47]      Andrew Coyne, The crossroads of international trade. Macleans: September 18, 2008: http://www2.macleans.ca/tag/council-of-canadians/

[48]      Benn Steil, The End of National Currency. Foreign Affairs: Vol. 86, Issue 3, May/June 2007: pages 83-96

[49]      BBC, South America nations found union. BBC News: May 23, 2008: http://news.bbc.co.uk/2/hi/americas/7417896.stm

[50]      CNews, South American nations to seek common currency. China View: May 26, 2008: http://news.xinhuanet.com/english/2008-05/27/content_8260847.htm

[51]      AME Info, GCC: Full steam ahead to monetary union. September 19, 2005: http://www.ameinfo.com/67925.html

John Irish, GCC Agrees on Monetary Union but Signals Delay in Common Currency. Reuters: June 10, 2008: http://www.arabnews.com/?page=6&section=0&article=110727&d=10&m=6&y=2008

Forbes, TIMELINE-Gulf single currency deadline delayed beyond 2010. Forbes: March 23, 2009: http://www.forbes.com/feeds/afx/2009/03/24/afx6204462.html

Agencies, ‘GCC need not rush to form single currency’. Business 24/7: March 26, 2009: http://www.business24-7.ae/articles/2009/3/pages/25032009/03262009_4e19de908b174f04bfb3c37aec2f17b3.aspx

[52]      Barry Eichengreen, International Monetary Arrangements: Is There a Monetary Union in Asia’s Future? The Brookings Institution: Spring 1997: http://www.brookings.edu/articles/1997/spring_globaleconomics_eichengreen.aspx

atimes.com, After European now Asian Monetary Union? Asia Times Online: September 8, 2001: http://www.atimes.com/editor/CI08Ba01.html

ASEAN, China, Japan, SKorea, ASEAN Makes Moves for Asian Monetary Fund. Association of Southeast Asian Nations: May 6, 2005: http://www.aseansec.org/afp/115.htm

Reuven Glick, Does Europe’s Path to Monetary Union Provide Lessons for East Asia? Federal Reserve Bank of San Francisco: August 12, 2005: http://www.frbsf.org/publications/economics/letter/2005/el2005-19.html

AFP, Asian Monetary Fund may be needed to deal with future shocks. Channel News Asia: July 2, 2007: http://www.channelnewsasia.com/stories/afp_world_business/view/285700/1/.html

AFX News Limited, East Asia monetary union ‘feasible’ but political will lacking – ADB. Forbes: September 19, 2007: http://www.forbes.com/feeds/afx/2007/09/19/afx4133743.html

[53]      Lin Li, ASEAN discusses financial, monetary integration. China View: April 2, 2008: http://news.xinhuanet.com/english/2008-04/02/content_7906391.htm

[54]      Paul De Grauwe, Economics of Monetary Union. Oxford University Press, 2007: pages 109-110

Heather Milkiewicz and Paul R. Masson, Africa’s Economic Morass—Will a Common Currency Help? The Brookings Institution: July 2003: http://www.brookings.edu/papers/2003/07africa_masson.aspx

John Gahamanyi, Rwanda: African Central Bank Governors Discuss AU Financial Institutions. The New Times: August 23, 2008: http://allafrica.com/stories/200808230124.html

Eric Ombok, African Union, Nigeria Plan Accord on Central Bank. Bloomberg: March 2, 2009: http://www.bloomberg.com/apps/news?pid=20601116&sid=afoY1vOnEMLA&refer=africa

Ministry of Foreign Affairs, AFRICA IN THE QUEST FOR A COMMON CURRENCY. Republic of Kenya: March 2009: http://www.mfa.go.ke/mfacms/index.php?option=com_content&task=view&id=346&Itemid=62

[55]      Edmund Conway, UK policy blamed for soaring debt levels. The Telegraph: February 20, 2006: http://www.telegraph.co.uk/finance/2932605/UK-policy-blamed-for-soaring-debt-levels.html

[56]      Strobe Talbott, America Abroad. Time Magazine: July 20, 1992: http://www.time.com/time/magazine/article/0,9171,976015,00.html

[57]      Richard N. Gardner, The Hard Road to World Order. Foreign Affairs: April, 1974: page 556

[58]      Richard N. Gardner, The Hard Road to World Order. Foreign Affairs: April, 1974: page 557

[59]      Richard N. Gardner, The Hard Road to World Order. Foreign Affairs: April, 1974: page 558

[60]      Richard Falk and Andrew Strauss, Toward Global Parliament. Foreign Affairs: January/February, 2001: page 213

[61]      Philip Thornton, UN unveils plan to release untapped wealth of…$7 trillion (and solve the world’s problems at a stroke). The Independent: January 30, 2006: http://www.independent.co.uk/news/world/politics/un-unveils-plan-to-release-untapped-wealth-of7-trillion-and-solve-the-worlds-problems-at-a-stroke-525173.html

[62]      Richard Falk and Andrew Strauss, Toward Global Parliament. Foreign Affairs: January/February, 2001: page 215

[63]      Richard Falk and Andrew Strauss, Toward Global Parliament. Foreign Affairs: January/February, 2001: page 218

[64]      David Rothkopf, Superclass: The Global Power Elite and the World They are Making. (Toronto: Penguin Books, 2008), pages 315-316

[65]      EuroNews, European Elections. Jacques Attali: the euronews interview: April 6, 2009: http://www.euronews.net/2009/06/04/jacques-attali-the-euronews-interview/

[66]      Gideon Rachman, And now for a world government. The Financial Times: December 8, 2008: http://www.ft.com/cms/s/0/7a03e5b6-c541-11dd-b516-000077b07658.html

[67]      NIC, Global Trends 2025: A Transformed World. The National Intelligence Council’s 2025 Project: November, 2008: Acknowledgements: http://www.dni.gov/nic/NIC_2025_project.html

[68]      NIC, Global Trends 2025: A Transformed World. The National Intelligence Council’s 2025 Project: November, 2008: pages 11-12:  http://www.dni.gov/nic/NIC_2025_project.html

[69]      NIC, Global Trends 2025: A Transformed World. The National Intelligence Council’s 2025 Project: November, 2008: pages 94:  http://www.dni.gov/nic/NIC_2025_project.html

[70]      NIC, Global Trends 2025: A Transformed World. The National Intelligence Council’s 2025 Project: November, 2008: pages 81:  http://www.dni.gov/nic/NIC_2025_project.html

[71]      NIC, Global Trends 2025: A Transformed World. The National Intelligence Council’s 2025 Project: November, 2008: pages 83:  http://www.dni.gov/nic/NIC_2025_project.html

[72]      NIC, Global Trends 2025: A Transformed World. The National Intelligence Council’s 2025 Project: November, 2008: pages 87:  http://www.dni.gov/nic/NIC_2025_project.html

[73]      David Rockefeller, Memoirs. Random House, New York, 2002: page 405

[74]      Walden Bello, The Capitalist Conjuncture: Over-accumulation, Financial Crises, and the retreat from globalization. Third World Quarterly: Vol. 27, No. 8: 2006: pages 1346-1348

[75]      Walden Bello, The Capitalist Conjuncture: Over-accumulation, Financial Crises, and the retreat from globalization. Third World Quarterly: Vol. 27, No. 8: 2006: pages 1348-1349

[76]      Walden Bello, The Capitalist Conjuncture: Over-accumulation, Financial Crises, and the retreat from globalization. Third World Quarterly: Vol. 27, No. 8: 2006: page 1350

[77]      PBS, The Long Demise of Glass-Steagall. Frontline: http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html

[78]      Robert Buzzanco, Bring Back Glass-Steagall? History News Network: October 21, 2008: http://hnn.us/articles/55548.html

[79]      PETER S. GOODMAN, Taking Hard New Look at a Greenspan Legacy. The New York Times: October 8, 2008: http://www.nytimes.com/2008/10/09/business/economy/09greenspan.html?_r=1

[80]      Walden Bello, The Capitalist Conjuncture: Over-accumulation, Financial Crises, and the retreat from globalization. Third World Quarterly: Vol. 27, No. 8: 2006: page 1350

[81]      Bill Virgin, et. al, The Insider: Dot-com boom just another of ‘Greenspan’s Bubbles’. Seattle PI: February 10, 2008: http://seattlepi.nwsource.com/business/350766_theinsider11.html?source=rss

[82]      Richard C. Cook, They Did It On Purpose: The Housing Bubble & Its Crash were Engineered by the US Government, the Fed & Wall Street. Global Research: October 23, 2008: http://www.globalresearch.ca/index.php?context=va&aid=10654

[83]      Walden Bello, The Capitalist Conjuncture: Over-accumulation, Financial Crises, and the retreat from globalization. Third World Quarterly: Vol. 27, No. 8: 2006: pages 1351-1352

[84]      Walden Bello, The Capitalist Conjuncture: Over-accumulation, Financial Crises, and the retreat from globalization. Third World Quarterly: Vol. 27, No. 8: 2006: page 1352

[85]      Louis T. McFadden, Congressional Record. June 10, 1932: pages 12595-12596 http://www.scribd.com/doc/16502353/Congressional-Record-June-10-1932-Louis-T-McFadden

[86]      Larry Elliott, Brown calls for overhaul of UN, World Bank and IMF. The Guardian: January 17, 2007: http://www.guardian.co.uk/business/2007/jan/17/globalisation.internationalaidanddevelopment

[87]      Andrea Ricci, Banks face “new world order,” consolidation: report. Reuters: March 17, 2008: http://www.reuters.com/article/innovationNews/idUSN1743541720080317

[88]      Robert Winnett, Financial Crisis: Gordon Brown calls for ‘new Bretton Woods’. The Telegraph: October 13, 2008: http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3189517/Financial-Crisis-Gordon-Brown-calls-for-new-Bretton-Woods.html

[89]      Gordon Brown, Out of the Ashes. The Washington Post: October 17, 2008: http://www.washingtonpost.com/wp-dyn/content/article/2008/10/16/AR2008101603179.html

[90]      Gordon Rayner, Global financial crisis: does the world need a new banking ‘policeman’? The Telegraph: October 8, 2008: http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3155563/Global-financial-crisis-does-the-world-need-a-new-banking-policeman.html

[91]      Rupert Wright, The first barons of banking. The National: November 6, 2008: http://www.thenational.ae/article/20081106/BUSINESS/167536298/1005

The Bilderberg Plan for 2009: Remaking the Global Political Economy

The Bilderberg Plan for 2009: Remaking the Global Political Economy
Global Research, May 26, 2009

From May 14-17, the global elite met in secret in Greece for the yearly Bilderberg conference, amid scattered and limited global media attention. Roughly 130 of the world’s most powerful individuals came together to discuss the pressing issues of today, and to chart a course for the next year. The main topic of discussion at this years meeting was the global financial crisis, which is no surprise, considering the list of conference attendees includes many of the primary architects of the crisis, as well as those poised to “solve” it.

The Agenda: The Restructuring of the Global Political Economy

Before the meeting began, Bilderberg investigative journalist Daniel Estulin reported on the main item of the agenda, which was leaked to him by his sources inside. Though such reports cannot be verified, his sources, along with those of veteran Bilderberg tracker, Jim Tucker, have proven to be shockingly accurate in the past. Apparently, the main topic of discussion at this year’s meeting was to address the economic crisis, in terms of undertaking, “Either a prolonged, agonizing depression that dooms the world to decades of stagnation, decline and poverty … or an intense-but-shorter depression that paves the way for a new sustainable economic world order, with less sovereignty but more efficiency.” Other items on the agenda included a plan to “continue to deceive millions of savers and investors who believe the hype about the supposed up-turn in the economy. They are about to be set up for massive losses and searing financial pain in the months ahead,” and “There will be a final push for the enactment of Lisbon Treaty, pending on Irish voting YES on the treaty in Sept or October,”[1] which would give the European Union massive powers over its member nations, essentially making it a supranational regional government, with each country relegated to more of a provincial status.

Shortly after the meetings began, Bilderberg tracker Jim Tucker reported that his inside sources revealed that the group has on its agenda, “the plan for a global department of health, a global treasury and a shortened depression rather than a longer economic downturn.” Tucker reported that Swedish Foreign Minister and former Prime Minister, Carl Bildt, “Made a speech advocating turning the World Health Organization into a world department of health, advocating turning the IMF into a world department of treasury, both of course under the auspices of the United Nations.” Further, Tucker reported that, “Treasury Secretary Geithner and Carl Bildt touted a shorter recession not a 10-year recession … partly because a 10 year recession would damage Bilderberg industrialists themselves, as much as they want to have a global department of labor and a global department of treasury, they still like making money and such a long recession would cost them big bucks industrially because nobody is buying their toys…..the tilt is towards keeping it short.”[2]

After the meetings finished, Daniel Estulin reported that, “One of Bilderberg’s primary concerns according to Estulin is the danger that their zeal to reshape the world by engineering chaos in order to implement their long term agenda could cause the situation to spiral out of control and eventually lead to a scenario where Bilderberg and the global elite in general are overwhelmed by events and end up losing their control over the planet.”[3]

On May 21, the Macedonian International News Agency reported that, “A new Kremlin report on the shadowy Bilderberg Group, who this past week held their annual meeting in Greece, states that the West’s financial, political and corporate elite emerged from their conclave after coming to an agreement that in order to continue their drive towards a New World Order dominated by the Western Powers, the US Dollar has to be ‘totally’ destroyed.” Further, this same unconfirmed Kremlin report, stated that, “most of the West’s wealthiest elite convened at an unprecedented secret meeting in New York called for and led by” David Rockefeller, “to plot the demise of the US Dollar.”[4] This report, which was not acknowledged by other media sources, requires verification.

The Secret Meeting of Billionaires

The meeting being referred to was a secret meeting where, “A dozen of the richest people in the world met for an unprecedented private gathering at the invitation of Bill Gates and Warren Buffett to talk about giving away money,” held at Rockefeller University, and included notable philanthropists such as Gates, Buffett, New York Mayor Michael Bloomberg, George Soros, Eli Broad, Oprah Winfrey, David Rockefeller Sr. and Ted Turner. One attendee stated that, “It wasn’t secret,” but that, “It was meant to be a gathering among friends and colleagues. It was something folks have been discussing for a long time. Bill and Warren hoped to do this occasionally. They sent out an invite and people came.” Chronicle of Philanthropy editor Stacy Palmer said, “Given how serious these economic times are, I don’t think it’s surprising these philanthropists came together,” and that, “They don’t typically get together and ask each other for advice.” The three hosts of the meeting were Buffet, Gates and David Rockefeller.[5] [See: Appendix 2: Bilderberg Connections to the Billionaire’s Meeting].

At the meeting, “participants steadfastly refused to reveal the content of the discussion. Some cited an agreement to keep the meeting confidential. Spokesmen for Mr. Buffett, Mr. Bloomberg, Mr. Gates, Mr. Rockefeller, Mr. Soros and Ms. Winfrey and others dutifully declined comment, though some confirmed attendance.”[6] Reports indicate that, “They discussed how to address the global slump and expand their charitable activities in the downturn.”[7]

The UK newspaper The Times reported that these “leading billionaires have met secretly to consider how their wealth could be used to slow the growth of the world’s population,” and that they “discussed joining forces to overcome political and religious obstacles to change.” Interestingly, “The informal afternoon session was so discreet that some of the billionaires’ aides were told they were at ‘security briefings’.” Further, “The billionaires were each given 15 minutes to present their favourite cause. Over dinner they discussed how they might settle on an ‘umbrella cause’ that could harness their interests,” and what was decided upon was that, “they agreed that overpopulation was a priority.” Ultimately, “a consensus emerged that they would back a strategy in which population growth would be tackled as a potentially disastrous environmental, social and industrial threat,” and that, “They need to be independent of government agencies, which are unable to head off the disaster we all see looming.” One guest at the meeting said that, “They wanted to speak rich to rich without worrying anything they said would end up in the newspapers, painting them as an alternative world government.”[8]

The Leaked Report

Bilderberg investigative reporter Daniel Estulin reportedly received from his inside sources a 73-page Bilderberg Group meeting wrap-up for participants, which revealed that there were some serious disagreements among the participants. “The hardliners are for dramatic decline and a severe, short-term depression, but there are those who think that things have gone too far and that the fallout from the global economic cataclysm cannot be accurately calculated if Henry Kissinger’s model is chosen. Among them is Richard Holbrooke. What is unknown at this point: if Holbrooke’s point of view is, in fact, Obama’s.” The consensus view was that the recession would get worse, and that recovery would be “relatively slow and protracted,” and to look for these terms in the press over the next weeks and months.

Estulin reported, “that some leading European bankers faced with the specter of their own financial mortality are extremely concerned, calling this high wire act “unsustainable,” and saying that US budget and trade deficits could result in the demise of the dollar.” One Bilderberger said that, “the banks themselves don’t know the answer to when (the bottom will be hit).” Everyone appeared to agree, “that the level of capital needed for the American banks may be considerably higher than the US government suggested through their recent stress tests.” Further, “someone from the IMF pointed out that its own study on historical recessions suggests that the US is only a third of the way through this current one; therefore economies expecting to recover with resurgence in demand from the US will have a long wait.” One attendee stated that, “Equity losses in 2008 were worse than those of 1929,” and that, “The next phase of the economic decline will also be worse than the ’30s, mostly because the US economy carries about $20 trillion of excess debt. Until that debt is eliminated, the idea of a healthy boom is a mirage.”[9]

According to Jim Tucker, Bilderberg is working on setting up a summit in Israel from June 8-11, where “the world’s leading regulatory experts” can “address the current economic situation in one forum.” In regards to the proposals put forward by Carl Bildt to create a world treasury department and world department of health under the United Nations, the IMF is said to become the World Treasury, while the World Health Organization is to become the world department of health. Bildt also reaffirmed using “climate change” as a key challenge to pursue Bilderberg goals, referring to the economic crisis as a “once-in-a-generation crisis while global warming is a once-in-a-millennium challenge.” Bildt also advocated expanding NAFTA through the Western hemisphere to create an American Union, using the EU as a “model of integration.”

The IMF reportedly sent a report to Bilderberg advocating its rise to becoming the World Treasury Department, and “U.S. Treasury Secretary Timothy Geithner enthusiastically endorsed the plan for a World Treasury Department, although he received no assurance that he would become its leader.” Geithner further said, “Our hope is that we can work with Europe on a global framework, a global infrastructure which has appropriate global oversight.”[10]

Bilderberg’s Plan in Action?

Reorganizing the Federal Reserve

Following the Bilderberg meeting, there were several interesting announcements made by key participants, specifically in regards to reorganizing the Federal Reserve. On May 21, it was reported that US Treasury Secretary Timothy Geithner “is believed to be leaning heavily towards giving the Federal Reserve a central role in future regulation,” and “it is understood that the Fed would take on some of the work currently undertaken by the US Securities and Exchange Commission.”[11]

On Wednesday, May 20, Geithner spoke before the Senate Banking Committee, at which he stated that, “there are important indications that our financial system is starting to heal.” In regards to regulating the financial system, Geithner stated that, “we must ensure that international rules for financial regulation are consistent with the high standards we will be implementing in the United States.”[12]

Bloomberg reported that, “The Obama administration may call for stripping the Securities and Exchange Commission of some of its powers under a regulatory reorganization,” and that, “The proposal, still being drafted, is likely to give the Federal Reserve more authority to supervise financial firms deemed too big to fail. The Fed may inherit some SEC functions, with others going to other agencies.” Interestingly, “SEC Chairman Mary Schapiro’s agency has been mostly absent from negotiations within the administration on the regulatory overhaul, and she has expressed frustration about not being consulted.”

It was reported that “Treasury Secretary Timothy Geithner was set to discuss proposals to change financial regulations last night at a dinner with National Economic Council Director Lawrence Summers [who was also present at Bilderberg], former Fed Chairman Paul Volcker [also at Bilderberg], ex-SEC Chairman Arthur Levitt and Elizabeth Warren, the Harvard University law professor who heads the congressional watchdog group for the $700 billion Troubled Asset Relief Program.”[13] The Federal Reserve is a privately owned central bank, owned by its shareholders, consisting of the major banks the make up each regional Fed bank (the largest of which is JP Morgan Chase and the Federal Reserve Bank of New York). This plan would essentially give a privately owned bank, which has governmental authority, the ability to regulate the banks that own it. It’s the equivalent of getting a Colonel to guard a General to whom he is directly answerable. Talk about the fox guarding the hen house. It is literally granting ownership over the financial regulator to the banks being regulated.

As Market Watch, an online publication of the Wall Street Journal, reported, “The Federal Reserve, created nearly 100 years ago in the aftermath of a financial panic, could be transformed into a different agency as the Obama administration reinvents the way government interacts with the financial system.” Referring to Geithner’s Senate appearance, it was reported that, “Geithner was also grilled on the cozy relationships that exist between the big banks and the regional Federal Reserve banks. Before Geithner joined the administration, he was president of the New York Fed, which is a strange public-private hybrid institution that is actually owned and run by the banks.” In response, “Geithner insisted that the private banks have no say over the policies of the New York Fed, but he acknowledged that the banks do have a say in hiring the president, who does make policy. The chairman of the New York Fed, Stephen Friedman, was forced to resign earlier this month because of perceived conflicts of interest due to his large holdings in Goldman Sachs.”[14]

The IMF as a Global Treasury

The Bilderberg agenda of creating a global treasury has already been started prior to the Bilderberg meeting, with decisions made during the G20 financial summit in April. Although the G20 seemed to frame it more in context of being formed into a global central bank, although it is likely the IMF could fill both roles.

Following the G20 meeting at the beginning of April, 2009, it was reported that, “The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity,” as the Communiqué released by the G20 leaders stated that, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,” and that, “SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.” Essentially, “they are putting a de facto world currency into play. It is outside the control of any sovereign body.”[15] [See Appendix 2: Creating a Central Bank of the World]

Following the Bilderberg meeting, “President Obama has asked Congress to authorize $100 billion in loans to the International Monetary Fund (IMF) to help create a $500 billion global bailout fund,” which would give the IMF the essential prerogative of a global treasury, providing bailouts for countries in need around the world. Further, “the bill would allow the IMF to borrow up to $100 billion from the U.S. and increase the U.S. fiscal contribution to the IMF by $8 billion.” Elaborating on the program, it was reported that, “World leaders began on the global bailout initiative, called the New Arrangement for Borrowing (NAB), at the G-20 summit in early April. The president agreed at that time to make the additional funds available.” Obama wrote that, “Treasury Secretary Geithner concluded that the size of the NAB is woefully inadequate to deal with the type of severe economic and financial crisis we are experiencing, and I agree with him.”[16]

With the G20 decision to increase the usage of IMF Special Drawing Rights (SDRs), forming a de facto world currency, it was recently reported that, “Sub-Saharan Africa will receive around $10 billion from the IMF in Special Drawing Rights (SDRs) to help its economies weather the global financial crisis,” and that, “As part of a $1.1 trillion deal to combat the world economic downturn agreed at April’s G20 summit, the IMF will issue $250 billion worth of SDRs, which can be used to boost foreign currency reserves.”[17]

Recent reports have also indicated that the IMF’s role in issuing SDRs goes hand in hand with the Bilderberg discussion on the potential collapse of the US dollar, and, “Transforming the dollar standard into an SDR-based system would be a major break with a policy that has lasted more than 60 years.” It was reported that, “There are two ways in which the dollar’s role in the international monetary system can be reduced. One possibility is a gradual, market-determined erosion of the dollar as a reserve currency in favor of the euro. But, while the euro’s international role – especially its use in financial markets – has increased since its inception, it is hard to envisage it overtaking the dollar as the dominant reserve currency in the foreseeable future.” However, “With the dollar’s hegemony unlikely to be seriously undermined by market forces, at least in the short and medium-term, the only way to bring about a major reduction in its role as a reserve currency is by international agreement.” This is where the SDRs come into play, as “One way to make the SDR the major reserve currency relatively soon would be to create and allocate a massive amount of new SDRs to the IMF’s members.”[18] This is, interestingly, exactly what is happening with Africa and the IMF now.

Former IMF Managing Director Jacques de Larosière recently stated that the current financial crisis, “given its scope, presents a unique opening to improve institutions, and there is already a danger that the chance might be missed if the different actors cannot agree to changes by the time economic growth resumes.” He is now an adviser with BNP Paribas, a corporation highly represented at Bilderberg meetings, and he was head of the Treasury of France when Valéry Giscard d’Estaing was President of France, who is a regular of the Bilderberg Group.[19]

The Guardian Covers Bilderberg

The British paper, the Guardian, was the only major mainstream news publication to provide ongoing coverage of the Bilderberg meeting over the weekend. His first columns were satirical and slightly mocking, referring to it as, “A long weekend at a luxury hotel, where the world’s elite get to shake hands, clink glasses, fine-tune their global agenda and squabble over who gets the best sun loungers. I’m guessing that Henry Kissinger brings his own, has it helicoptered in and guarded 24/7 by a CIA special ops team.”[20] However, as the weekend dragged on, his reporting took a change of tone. He reported on the Saturday that, “I know that I’m being followed. I know because I’ve just been chatting to the plainclothes policemen I caught following me,” and he was arrested twice in the first day of the meetings for attempting to take photographs as the limousines entered the hotel.[21]

He later reported that he wasn’t sure what they were discussing inside the hotel, but that he has “a sense of something rotten in the state of Greece,” and he further stated, “Three days and I’ve been turned into a suspect, a troublemaker, unwanted, ill at ease, tired and a bit afraid.” He then went on to write that, “Bilderberg is all about control. It’s about “what shall we do next?” We run lots of stuff already, how about we run some more? How about we make it easier to run stuff? More efficient. Efficiency is good. It would be so much easier with a single bank, a single currency, a single market, a single government. How about a single army? That would be pretty cool. We wouldn’t have any wars then. This prawn cocktail is GOOD. How about a single way of thinking? How about a controlled internet?,” and then, “How about not.”

He makes a very astute point, countering the often postulated argument that Bilderberg is simply a forum where people can speak freely, writing: “I am so unbelievably backteeth sick of power being flexed by the few. I’ve had it flexed in my face for three days, and it’s up my nose like a wasp. I don’t care whether the Bilderberg Group is planning to save the world or shove it in a blender and drink the juice, I don’t think politics should be done like this,” and the author, Charlie Skelton, eloquently stated, “If they were trying to cure cancer they could do it with the lights on.” He further explained that, “Bilderberg is about positions of control. I get within half a mile of it, and suddenly I’m one of the controlled. I’m followed, watched, logged, detained, detained again. I’d been put in that position by the “power” that was up the road.”[22]

On Sunday, May 17, Skelton reported that when he asked the police chief why he was being followed, the chief responded asking, “Why you here?” to which Skelton said he was there to cover the Bilderberg conference, after which the chief stated, “Well, that is the reason! That is why! We are finished!”[23] Do reporters get followed around and stalked by police officers when they cover the World Economic Forum? No. So why does it happen with Bilderberg if all it is, is a conference to discuss ideas freely?

On the Monday following the conference, Skelton wrote that, “It isn’t just me who’s been hauled into police custody for daring to hang around half a mile from the hotel gates. The few journalists who’ve made the trip to Vouliagmeni this year have all been harassed and harried and felt the business end of a Greek walkie-talkie. Many have been arrested. Bernie, from the American Free Press, and Gerhard the documentarian (sounds like a Dungeons and Dragons character) chartered a boat from a nearby marina to try to get photos from the sea. They were stopped three miles from the resort. By the Greek navy.” As Skelton said himself, “My dispatches on the 2009 conference, if they mean anything at all, represent nothing more acutely than the absence of thorough mainstream reporting.”[24]

Skelton’s final report on Bilderberg from May 19, showed how far he had gone in his several days of reporting on the meeting. From writing jokingly about the meeting, to discovering that he was followed by the Greek State Security force. Skelton mused, “So who is the paranoid one? Me, hiding in stairwells, watching the pavement behind me in shop windows, staying in the open for safety? Or Bilderberg, with its two F-16s, circling helicopters, machine guns, navy commandos and policy of repeatedly detaining and harassing a handful of journalists? Who’s the nutter? Me or Baron Mandelson? Me or Paul Volker, the head of Obama’s economic advisory board? Me or the president of Coca-Cola?”

Skelton stated that, “Publicity is pure salt to the giant slug of Bilderberg. So I suggest next year we turn up with a few more tubs. If the mainstream press refuses to give proper coverage to this massive annual event, then interested citizens will have to: a people’s media.”

Amazingly, Skelton made the pronouncement that what he learned after the Bilderberg conference, was that, “we must fight, fight, fight, now – right now, this second, with every cubic inch of our souls – to stop identity cards,” as, “It’s all about the power to ask, the obligation to show, the justification of one’s existence, the power of the asker over the subservience of the asked.” He stated that he “learned this from the random searches, detentions, angry security goon proddings and thumped police desks without number that I’ve had to suffer on account of Bilderberg: I have spent the week living in a nightmare possible future and many different terrible pasts. I have had the very tiniest glimpse into a world of spot checks and unchecked security powers. And it has left me shaken. It has left me, literally, bruised.” Pointedly, he explains that, “The identity card turns you from a free citizen into a suspect.”[25]

Who was there?

Royalty

Among the members of the Bilderberg Group are various European monarchs. At this years meeting, Queen Beatrix of the Netherlands was present, who happens to be the largest single shareholder in Royal Dutch Shell, one of the world’s largest corporations. She was joined by one of her three sons, Prince Constantijn, who also attended the meeting. Prince Constantijn has worked with the Dutch European Commissioner for the EU, as well as having been a strategic policy consultant with Booz Allen & Hamilton in London, a major strategy and technology consulting firm with expertise in Economic and Business Analysis, Intelligence and Operations Analysis and Information Technology, among many others. Prince Constantijn has also been a policy researcher for RAND Corporation in Europe. RAND was initially founded as a global policy think tank that was formed to offer research and analysis to the US Armed Forces, however, it now works with governments, foundations, international organizations and commercial organizations.[26] Also present among European Royalty was Prince Philippe of Belgium, and Queen Sofia of Spain.

Private Bankers

As usual, the list of attendees was also replete with names representing the largest banks in the world. Among them, David Rockefeller, former CEO and Chairman of Chase Manhattan, now JP Morgan Chase, of which he was, until recently, Chairman of the International Advisory Board; and still sits as Honourary Chairman of the Council on Foreign Relations, Chairman of the Board of the Americas Society and Council of the Americas, Honourary Chairman of the Trilateral Commission, which he founded alongside Zbigniew Brzezinski; also a founding member of the Bilderberg Group, prominent philanthropist and is the current patriarch of one of the world’s richest and most powerful banking dynasties.

Also present was Josef Ackermann, a Swiss banker who is CEO of Deutsche Bank, also a non-executive director of Royal Dutch Shell; Deputy Chairman of Siemens AG, Europe’s largest engineering corporation; he is also a member of the International Advisory Council of Zurich Financial Services Group; Chairman of the Board of the Institute International of Finance, the world’s only global association of financial institutions; and Vice Chairman of the Foundation Board of the World Economic Forum.[27]

Roger Altman was also present at the Bilderberg meeting, an investment banker, private equity investor and former Deputy Treasury Secretary in the Clinton Administration. Other bankers at this years meeting include Ana Patricia Botin, Chairman of the Spanish bank, Banco Español de Crédito, formerly having worked with JP Morgan; Frederic Oudea, CEO and newly appointed Chairman of the Board of French bank Societe Generale; Tommaso Padoa-Schioppa, an Italian banker and economist, formerly Italy’s Minister of Economy and Finance; Jacob Wallenberg, Chairman of Investor AB; Marcus Wallenberg, CEO of Investor AB; and George David, CEO of United Technologies Corporation, who also sits on the board of Citigroup, member of the Business Council, the Business Roundtable, and is Vice Chairman of the Peterson Institute for International Economics. [For more on the Peterson Institute, see: Appendix 1]

Canadian bankers include W. Edmund Clark, President and CEO of TD Bank Financial Group, also a member of the board of directors of the C.D. Howe Institute, a prominent Canadian think tank; Frank McKenna, Deputy Chairman of TD Bank Financial Group, former Canadian Ambassador to the United States, former Premier of New Brunswick; and Indira Samarasekera, President of the University of Alberta, who is also on the board of Scotiabank, one of Canada’s largest banks.

Central Bankers

Of course, among the notable members of the Bilderberg Group, are the world’s major central bankers. Among this years members are the Governor of the National Bank of Greece, Governor of the Bank of Italy, President of the European Investment Bank, James Wolfensohn, former President of the World Bank, and Nout Wellink, on the board of the Bank for International Settlements (BIS).[28] Jean-Claude Trichet, the President of the European Central Bank was also present.[29] There is no indication that the Governor of the Federal Reserve, Ben Bernanke was present, which would be an odd turn of events, considering that the Federal Reserve Governor is always present at Bilderberg meetings, alongside the President of the Federal Reserve Bank of New York, William C. Dudley. I have contacted the New York Fed inquiring if Dudley visited Greece or went to any meetings in Greece between May 14-17, or if another senior representative from the New York Fed went in his stead. I have yet to get a response.

The Obama Administration at Bilderberg

The Obama administration was heavily represented at this years Bilderberg meeting. Among the attendees were Keith B. Alexander, a Lieutenant General of U.S. Army and Director of the National Security Agency, the massive spying agency of the United States; Timothy Geithner, US Treasury Secretary and former President of the Federal Reserve Bank of New York; Richard Holbrooke, the Obama administration’s special envoy for Afghanistan and Pakistan; General James Jones, United States National Security Advisor; Henry Kissinger, Obama’s special envoy to Russia, longtime Bilderberg member and former Secretary of State and National Security Advisor; Dennis Ross, special advisor for the Persian Gulf and Southwest Asia to Secretary of State Hillary Clinton; David Patraeus, Commander of CENTCOM, (U.S. Central Command, in the Middle East), Lawrence Summers, Director of the White House’s National Economic Council, former Treasury Secretary in the Clinton administration, former President of Harvard University, former Chief Economist of the World Bank; Paul Volcker, former Governor of the Federal Reserve System and Chair of Obama’s Economic Recovery Advisory Board; Robert Zoellick, former Chairman of Goldman Sachs and current President of the World Bank;[30] and Deputy Secretary of State James Steinberg.[31]

Other Notable Names

Among many others present at the meeting are Viscount Étienne Davignon, former Vice President of the European Commission, and Honourary Chairman of the Bilderberg Group; Francisco Pinto Balsemão, former Prime Minister of Portugal; Franco Bernabè, CEO of Telecom Italia and Vice Chairman of Rothschild Europe; Carl Bildt, former Prime Minister of Sweden; Kenneth Clarke, Shadow Business Secretary in the UK; Richard Dearlove, former head of Britain’s Secret Intelligence Services (MI6); Donald Graham, CEO of the Washington Post Company; Jaap De Hoop Scheffer, Secretary-General of NATO; John Kerr, member of the British House of Lords and Deputy Chairman of Royal Dutch Shell; Jessica Matthews, President of the Carnegie Endowment for International Peace; Richard Perle of the American Enterprise Institute; Romano Prodi, former Italian Prime Minister; J. Robert S. Prichard, CEO of Torstar Corporation and President Emeritus of the University of Toronto; Peter Sutherland, former Director General of the General Agreement on Tariffs and Trade (GATT), first Director General of the World Trade Organization (WTO), and is currently Chairman of British Petroleum (BP) and Goldman Sachs International as well as being a board member of the Royal Bank of Scotland, Chairman of the Trilateral Commission, Vice Chairman of the European Roundtable of Industrialists, and longtime Bilderberg member; Peter Thiel, on the board of directors of Facebook; Jeroen van der Veer, CEO of Royal Dutch Shell; Martin Wolf, Associate Editor and Chief Economics Commentator of the Financial Times newspaper; and Fareed Zakaria, US journalist and board member of the Council on Foreign Relations.[32] There were also some reports that this years meeting would include Google CEO Eric Schmidt, as well as Wall Street Journal Editor Paul Gigot,[33] both of whom attended last years meeting.[34]

Conclusion

Clearly, it was the prerogative of this year’s Bilderberg meeting to exploit the global financial crisis as much as possible to reach goals they have been striving toward for many years. These include the creation of a Global Treasury Department, likely in conjunction with or embodied in the same institution as a Global Central Bank, both of which seem to be in the process of being incorporated into the IMF.

Naturally, Bilderberg meetings serve the interests of the people and organizations that are represented there. Due to the large amount of representatives from the Obama administration that were present, US policies revolving around the financial crisis are likely to have emerged from and serve the interests of the Bilderberg Group. Given the heavy representation of Obama’s foreign policy establishment at the Bilderberg meeting, it seemed surprising to not have received any more information regarding US foreign policy from this year’s meeting, perhaps having to do with Pakistan and Afghanistan.

However, the US recently decided to fire the general who oversaw the Afghan war, being replaced with “Lt. Gen. Stanley McChrystal, a former Green Beret who recently commanded the military’s secretive special operations forces in Iraq.”[35] From 2003 to 2008, McChrystal “led the Pentagon’s Joint Special Operations Command (JSOC), which oversees the military’s most sensitive forces, including the Army’s Delta Force,” and who Pulitzer-Prize winning investigative journalist Seymour Hersh singled out as the head of VP Cheney’s “executive assassination wing.”[36]

So, given these recent changes, as well as the high degree of representation Obama’s foreign policy establishment held at Bildebrerg this year, there were likely to have been some decisions or at least discussion of the escalation of the Afghan war and expansion into Pakistan. However, it is not surprising that the main item on the agenda was the global financial crisis. Without a doubt, the next year will be an interesting one, and the elite are surely hoping to make it a productive one.


APPENDIX 1: Bilderberg Connections to the Billionaire’s Meeting

Peter G. Peterson, one of the guests in attendance at the secret billionaires meeting, was the former United States Secretary of Commerce in the Nixon administration, Chairman and CEO of Lehman Brothers, Kuhn, Loeb Inc., from 1977 to 1984, he co-founded the prominent private equity and investment management firm, the Blackstone Group, of which he is currently Senior Chairman, and in 1985, he became Chairman of the Council on Foreign Relations, taking over when David Rockefeller stepped down from that position. He founded the Peterson Institute for International Economics and was Chairman of the New York Federal Reserve Bank from 2000-2004. The Peterson Institute for International Economics is a major world economic think tank, which seeks to “inform and shape public debate,” from which, “Institute studies have helped provide the intellectual foundation for many of the major international financial initiatives of the past two decades: reform of the International Monetary Fund (IMF), adoption of international banking standards, exchange rate systems in the G-7 and emerging-market economies, policies toward the dollar, the euro, and other important currencies, and responses to debt and currency crises (including the current crisis of 2008–09).” It has also “made important contributions to key trade policy decisions” such as the development of the World Trade Organization, NAFTA, APEC, and East Asian regionalism.[37]

It has a prominent list of names on its board of directors. Peter G. Peterson is Chairman of the board; George David, Chairman of United Technologies is Vice Chairman, as well as being a board member of Citigroup, and was a guest at this year’s Bilderberg meeting; Chen Yuan, Governor of the China Development Bank and former Deputy Governor of the People’s Bank of China (China’s central bank); Jessica Einhorn, Dean of Washington’s Paul H. Nitze School of Advanced International Studies (SAIS) of the Johns Hopkins University, former Visiting Fellow of the International Monetary Fund (IMF), former Managing Director of the World Bank, and currently on the board of Time Warner and the Council on Foreign Relations; Stanley Fischer, Governor of the Central Bank of Israel, former Vice President at the World Bank, former Managing Director at the IMF, former Vice Chairman of Citigroup, and has also been a regular participant in Bilderberg meetings; Carla A. Hills, former US Trade Representative, and was the prime negotiator of NAFTA, she sits on the International Advisory Boards of American International Group, the Coca-Cola Company, Gilead Sciences, J.P. Morgan Chase,  member of the Executive Committee of the Trilateral Commission, Co-Chair of the Council on Foreign Relations, and played a key part in the CFR document, “Building a North American Community,” which seeks to remodel North America following along the lines of the European Union, and she has also been a prominent Bilderberg member; David Rockefeller also sits on the Peterson Institute’s board, as well as Lynn Forester de Rothschild; Jean-Claude Trichet, President of the European Central Bank, who is at every Bilderberg meeting; Paul A. Volcker, former Governor of the Federal Reserve System, regular participant of Bilderberg meetings, and current Chair of Obama’s Economic Recovery Advisory Board.

Honourary Directors of the Peterson Institute include Bilderbergers Alan Greenspan, former Chairman of the Board of Governors of the Federal Reserve System, a prime architect of the current crisis; Frank E. Loy, former Under Secretary of State for Global Affairs, and is on the boards of Environmental Defense, the Pew Center for Global Climate Change, Resources for the Future, and Population Services International; George P. Shultz, former US Secretary of State in the Reagan administration, President and Director of Bechtel Group and former Secretary of the Treasury.[38]

APPENDIX 2: Creating a Central Bank of the World

Jeffrey Garten, Undersecretary of Commerce for International Trade in the Clinton administration, former Dean of the Yale School of Management, previously served on the White House Council on International Economic Policy under the Nixon administration and on the policy planning staffs of Secretaries of State Henry Kissinger and Cyrus Vance of the Ford and Carter administrations. He also was a managing director of Lehman Brothers and the Blackstone Group, is also a member of the Council on Foreign Relations. As early as 1998, Garten wrote an article for the New York Times in which he advocated the creation of a global central bank.[39]

Amid the current financial crisis, Garten wrote an article for the Financial Times in which he advocated for “the establishment of a Global Monetary Authority to oversee markets that have become borderless,” acting as a global central bank.[40] In late October, Garten wrote an article for Newsweek in which he said that world “leaders should begin laying the groundwork for establishing a global central bank.”[41]

Three days after the publication of Garten’s Newsweek article, it was reported that, “The International Monetary Fund may soon lack the money to bail out an ever growing list of countries crumbling across Eastern Europe, Latin America, Africa, and parts of Asia, raising concerns that it will have to tap taxpayers in Western countries for a capital infusion or resort to the nuclear option of printing its own money.” Further, “The nuclear option is to print money by issuing Special Drawing Rights, in effect acting as if it were the world’s central bank.”[42]

[For a detailed look at the moves to create a global central bank, regional currencies, a global reserve currency and a world governing body, see: Andrew G. Marshall, The Financial New World Order: Towards a Global Currency and World Government: Global Research, April 6, 2009]

Endnotes

[1] CFP, Annual Elite Conclave, 58th Bilderberg Meeting to be held in Greece, May 14-17. Canadian Free Press: May 5, 2009:
http://canadafreepress.com/index.php/article/10854

[2] Paul Joseph Watson, Bilderberg Wants Global Department Of Health, Global Treasury. Prison Planet: May 16, 2009:
http://www.infowars.com/bilderberg-wants-global-department-of-health-global-treasury/

[3] Paul Joseph Watson, Bilderberg Fears Losing Control In Chaos-Plagued World. Prison Planet: May 18, 2009:
http://www.prisonplanet.com/bilderberg-fears-losing-control-in-chaos-plagued-world.html

[4] Sorcha Faal, Bilderberg Group orders destruction of US Dollar? MINA: May 21, 2009:
http://macedoniaonline.eu/content/view/6807/53/

[5] Kristi Heim, What really happened at the billionaires’ private confab. The Seattle Times: May 20, 2009:
http://seattletimes.nwsource.com/html/thebusinessofgiving/2009244202_what_really_happened_at_the_bi.html

[6] A. G. Sulzberger, The Rich Get … Together (Shhh, It Was a Secret). The New York Times: May 20, 2009:
http://cityroom.blogs.nytimes.com/2009/05/20/the-rich-get-together-shhh-it-was-a-secret/

[7] Chosun, American Billionaires Gather to Discuss Slump. The Chosun Ilbo: May 22, 2009:
http://english.chosun.com/site/data/html_dir/2009/05/22/2009052200772.html

[8] John Harlow, Billionaire club in bid to curb overpopulation. The Sunday Times: May 24, 2009:
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6350303.ece

[9] Press Release, Investigative Author, Daniel Estulin Exposes Bilderberg Group Plans. PRWeb: May 22, 2009:
http://www.prweb.com/releases/Bilderberg_Group_Meeting/Daniel_Estulin/prweb2453144.htm

[10] James P. Tucker Jr., BILDERBERG AGENDA EXPOSED. American Free Press: June 1, 2009:
http://www.americanfreepress.net/html/bilderberg_2009_179.html

[11] James Quinn, Tim Geithner to reform US financial regulation. The Telegraph: May 21, 2009:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance
/5359527/Tim-Geithner-to-reform-US-financial-regulation.html

[12] Greg Menges, U. S. Secretary of the Treasury Timothy F. Geithner speech before the Senate Banking Committee. Examiner: May 20, 2009:
http://www.examiner.com/x-8184-Boston-Investing-Examiner~y2009m
5d20-U-S-Secretary-of-the-Treasury-Timothy-F-Geithner-speech-before-the-Senate-Banking-Committee

[13] Robert Schmidt and Jesse Westbrook, U.S. May Strip SEC of Powers in Regulatory Overhaul. Bloomberg: May 20: 2009:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a18ctNv3FDcw

[14] Rex Nutting, Fed could be completely retooled, Geithner says. Market Watch: May 20, 2009:
http://www.marketwatch.com/story/fed-could-be-completely-retooled-geithner-says

[15] Ambrose Evans-Pritchard, The G20 moves the world a step closer to a global currency. The Telegraph: April 3, 2009:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html

[16] Marie Magleby, Obama Wants U.S. to Loan $100 Billion to Global Bailout Fund. CNS News: May 20, 2009:
http://www.cnsnews.com/public/content/article.aspx?RsrcID=48329

[17] Joe Bavier, Sub-Saharan Africa to receive $10 bln in SDRs-IMF. Reuters: May 25, 2009:
http://www.reuters.com/article/latestCrisis/idUSLP336909

[18] Onno Wijnholds, The Dollar’s Last Days? International Business Times: May 18, 2009:
http://www.ibtimes.com/articles/20090518/dollar-rsquolast-days.htm

[19] MATTHEW SALTMARSH, Former I.M.F. Chief Sees Opportunity in Crisis. The New York Times: May 22, 2009:
http://www.nytimes.com/2009/05/23/business/global/23spot.html?ref=global

[20] Charlie Skelton, Our man at Bilderberg: in pursuit of the world’s most powerful cabal. The Guardian: May 13, 2009:
http://www.guardian.co.uk/world/2009/may/13/in-search-of-bilderberg

[21] Charlie Skelton, Our man at Bilderberg: They’re watching and following me, I tell you. The Guardian: May 15, 2009:
http://www.guardian.co.uk/world/2009/may/15/bilderberg-charlie-skelton-dispatch

[22] Charlie Skelton, Our man at Bilderberg: I’m ready to lose control, but they’re not. The Guardian: May 15, 2009:
http://www.guardian.co.uk/world/2009/may/15/bilderberg-charlie-skelton-dispatch1

[23] Charlie Skelton, Our man at Bilderberg: ‘You are not allowed to take pictures of policemen!’ The Guardian: May 17, 2009:
http://www.guardian.co.uk/world/2009/may/17/charlie-skelton-bilderberg

[24] Charlie Skelton, Our man at Bilderberg: Fear my pen. The Guardian: May 18, 2009:
http://www.guardian.co.uk/world/2009/may/18/bilderberg-charlie-skelton-dispatch

[25] Charlie Skelton, Our man at Bilderberg: Let’s salt the slug in 2010. The Guardian: May 19, 2009:
http://www.guardian.co.uk/news/blog/2009/may/19/bilderberg-skelton-greece

[26] Dutch Royal House, Work and official duties. Prince Constantijn:
http://www.koninklijkhuis.nl/english/content.jsp?objectid=18215

[27] Deutsche Bank, Management Board. Our Company:
http://www.db.com/en/content/company/management_board.htm

[28] InfoWars, Bilderberg 2009 Attendee List (revised). May 18, 2009:
http://www.infowars.com/bilderberg-2009-attendee-list/

[29] Demetris Nellas, Greek nationalists protest Bilderberg Club meeting. AP: May 14, 2009:
http://www.google.com/hostednews/ap/article/ALeqM5jep_nbEq1srzJHFQ8fRGNQO3P38QD987H3200

[30] InfoWars, Bilderberg 2009 Attendee List (revised). May 18, 2009:
http://www.infowars.com/bilderberg-2009-attendee-list/

[31] MRT, Top US official arrives in Greece. Macedonian Radio and Television: May 15, 2009:
http://www.mrt.com.mk/en/index.php?option=com_content&task=view&id=6112&Itemid=28

[32] InfoWars, Bilderberg 2009 Attendee List (revised). May 18, 2009:
http://www.infowars.com/bilderberg-2009-attendee-list/

[33] WND, Google joins Bilderberg cabal. World Net Daily: May 17, 2009:
http://worldnetdaily.com/index.php?fa=PAGE.view&pageId=98469

[34] Adam Abrams, Are the people who ‘really run the world’ meeting this weekend? Haaretz: May 14, 2009:
http://www.haaretz.com/hasen/spages/1085589.html

[35] YOCHI J. DREAZEN and PETER SPIEGEL, U.S. Fires Afghan War Chief. The Wall Street Journal: May 12, 2009:
http://online.wsj.com/article/SB124206036635107351.html

[36] M.J. Stephey, Stan McChrystal: The New U.S. Commander in Afghanistan. Time Magazine: May 12, 2009:
http://www.time.com/time/politics/article/0,8599,1897542,00.html

[37] PIIE, About the Institute. Peterson Institute for International Economics:
http://www.petersoninstitute.org/institute/aboutiie.cfm

[38] PIIE, Board of Directors. Peterson Institute for International Economics:
http://www.petersoninstitute.org/institute/board.cfm#52

[39] Jeffrey E. Garten, Needed: A Fed for the World. The New York Times: September 23, 1998:
http://www.nytimes.com/1998/09/23/opinion/needed-a-fed-for-the-world.html

[40] Jeffrey Garten, Global authority can fill financial vacuum. The Financial Times: September 25, 2008:
http://www.ft.com/cms/s/7caf543e-8b13-11dd-b634-0000779fd18c,Authorised=false.html?_i_
location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F7caf543e-8b13-11dd-b634-000077
9fd18c.html&_i_referer=http%3A%2F%2Fwilliamnotes.wordpress.com%2F2008%2F09%2F30%2Fgarten-on-a-global-monetary-authority%2F

[41] Jeffrey Garten, We Need a Bank Of the World. Newsweek: October 25, 2009: http://www.newsweek.com/id/165772

[42] Ambrose Evans-Pritchard, IMF may need to “print money” as crisis spreads. The Telegraph: October 28, 2009:
http://www.telegraph.co.uk/finance/comment/ambroseevans
_pritchard/3269669/IMF-may-need-to-print-money-as-crisis-spreads.html