Busted: Bankers and The Global Economy

January 9, 2011

Food Safety Bill Grants FDA Authority to Police Foreign Nations

Of all the talk about the USA Food Safety Bill, S.510, it is likely that few have actually read the language in the bill. Do the lawmakers actually know what is in it? The Food Safety Modernization Act allows the FDA to set up foreign offices.

Section 305 is entitled “BUILDING CAPACITY OF FOREIGN GOVERNMENTS WITH RESPECT TO FOOD SAFETY,” which allows the FDA the full authority to set up offices in foreign countries to dictate the food safety plans of foreign governments for any food coming into the United States. This is noted on page 217 of the Act.

SEC. 308. FOREIGN OFFICES OF THE FOOD AND DRUG ADMINISTRATION.
(a) IN GENERAL. – The Secretary shall establish offices of the Food and Drug Administration in foreign countries selected by the Secretary.

It then goes on to say:

(a) The Secretary shall, not later than 2 years of the date of enactment of this Act, develop a comprehensive plan to expand the technical, scientific, and regulatory food safety capacity of foreign governments, and their respective food industries, from which foods are exported to the United States.

This will allow for the global expansion of the FDA and an huge expansion of government jobs and government authority, most likely to be relegated to multinational corporations.

This Food Safety Act is to be developed under consultation to the Department of Homeland Security as well as the U.S. Treasury. As the bill states:

(b) Consultation – In developing the plan under subsection (a), the Secretary shall consult with the Secretary of Agriculture, Secretary of State, Secretary of the Treasury, the Secretary of Homeland Security, the United States Trade Representative, and the Secretary of Commerce, representatives of the food industry, appropriate foreign government officials, nongovernmental organizations that represent the interests of consumers, and other stakeholders.

What does the Department of Homeland Security have to do with an FDA food safety plan? Why is the U.S. Treasury involved in the food supply? The history of the Federal Reserve probably holds more of the answers here than you would care to admit.

Data sharing and international law are a big part of the Act. You can view this yourself on page 195 of the bill (at the link above).

(c) Plan – The plan developed under subsection (a) shall include, as appropriate, the following: “Provisions for secure electronic data sharing.”

This is so that the FDA can electronically track and monitor the food production activities of foreign nations. That way, if somebody in Spain tries to sell raw almonds to the USA, the FDA can make sure those almonds are irradiated or fumigated with chemicals first. Raw almonds are so dangerous they have actually been outlawed in States.

“Training of foreign governments and food producers on United States requirements for safe food” is designed to mandate the FDA’s “dead food” agenda to other nations.  This may effectively export the corporate agenda of health borne disease that the USA food industry seeks to sow. This will put more money in the pockets of the U.S. Pharmacy Corporations, expanding their power internationally, much like the U.S. has done with other industries, sending jobs overseas. There is no provision to mandate any pesticide levels where food safety is concerned.

The FDA will be allowed to “harmonize” the USA food and dietary supplement industries which could outlaw healthy doses of vitamins and minerals. RDA standards are bare minimums at best for minimal health needs.

Centralized power is likely to fuel large food corporations as they take over food production markets per government mandate, ensuring huge profits, all to the lowest bidder while the health of the nation flags. All the while, food engineers Monsanto, DuPont and other agricultural giants are likely benefactors as they push their proprietary seed and genetically modified plants on the world.

Thanks to Wikileaks, the world knows that the global GMO conspiracy is real and ripe for a corporate power grab.

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November 5, 2010

USA Economy: Bernanke Gets ‘Creative’

The Federal Reserve has been mandated by Congress to reduce unemployment while holding their interest rate near zero.  They plan to buy $600 billion in Treasury securities to keep prices from falling and reduce further the long-term borrowing costs, even as 8,000 commercial banks are being locked out of the money flow that could be used to begin financial healing on Main Street.

Bernanke plans to use the tools created during the recession to pump life into the USA economy. They have been projecting that the USA economy has been expanding for 15 months, but not to their satisfaction. They want the USA economy to grow at a larger rate. The reaction of the market has caused the dollar to fall and stocks to rise, as if Wall Street is a true measure of the USA economy. The focus is on Wall Street. Main Street be damned.

Bernanke hopes that he can encourage Wall Street investors to take more risks without risking inflation or encouraging price bubbles of assets by pushing the unemployment rate, which has been above 9 percent since June 2009.

Allen Sinai, the chief global economist at Decision Economics Inc. in New York claims that the Federal Reserve is not working up to standard. He criticized that they are paid to do the job more effectively, but their work is not up to standard. The fact remains that no human institution is truly equipped to deal with the crisis. We are in new economic territory with a global currency at stake, currently propped up by Wall Street as a distraction from the truth.

To push the rate of unemployment down, the central bank wants to spur the rate of US economic growth above a 2.5 annual growth rate.

November 1, 2010

“Economic Shock Therapy” by Corporate Oligarchy

In her new book, Naomi Klein describes the economic process and consequences of multinational politics inflicting capitalist theory on the world. In essence, after moments of crisis, new answers are touted through the regression of human rights in exchange for corporate economic “therapy”. Privatization of “government function,” as in the case of Blackwater and Deloitte, are typical exploits to get around temporary blockades of policy, politically sanctioned as in the case of the Federal Reserve. A radical example of this disaster therapy is the result of Hurricane Katrina, where “the hand of God” is what made the restoration of a better New Orleans possible by removing the people.

September 25, 2010

Ralph Nader Debunks Free Market Economy

Filed under: banking, business, corporatism, economy — Tags: , , , , , , , , , — digitaleconomy @ 3:00 am

Ralph Nader speaks in Stockholm, Sweden, where he debunks the myth of the free market.

August 6, 2010

Google and Verizon Set to Initiate Internet Discrimination

Filed under: business, corporatism, politics, technology — Tags: , , , , , , , , — digitaleconomy @ 6:28 am

Originally, the Internet was founded on the principle that all data is equal. No body or corporation has been able to officially decide whose data goes faster or slower. Net Neutrality has made the internet what it is today as a platform for individual speech, democratic action, and entrepreneurial creativity.

President Obama’s new Federal Communications Commission chair strongly promoted Net Neutrality in line with the President’s campaign promises. Big telecom companies launched a lobbying frenzy, and soon the FCC was meeting with them behind closed doors.

According to reports, Google is about to cut a deal with Verizon that effectively ends a fair, open Internet as we know it. Google uses the corporate motto “Don’t Be Evil,” while acting as a staunch defender of Net Neutrality. In actuality, Google is threatening to turn the internet into a closed, pay-to-play, cash cow for large corporations.

In this case, Verizon would have free rein to discriminate on the mobile internet for smartphones and cell phones. Some believe that mobile communication is where most people will access the internet in the future, spelling the end of Net Neutrality for millions.

Google chief executive Eric Schmidt has verbally attacked “phone and cable monopolies” who “want the power to choose who gets access to high-speed lanes and whose content gets seen first and fastest.”

Google has issued a short, carefully worded statement challenging some of the details in The New York Times story, but it hasn’t denied that it is going along with this agreement to kill Net Neutrality.

The Google-Verizon deal allows giant corporations to control which websites load quickly and easily on the internet while dumping everyone else onto a slow internet connection. Google has opposed limiting internet access in the past.

Because Google and Verizon are two powerhouse corporations that have historically been on opposite sides of this issue, an agreement between them will put enormous pressure on the FCC to go along with their recommendations. Essentially, two giant corporations may be deciding the future of the internet. If the Obama administration goes along, and if the public doesn’t push back right away. Click here to help stop them now.

July 26, 2010

Plague of Home Foreclosures in U.S. Continues

The miraculous recovery that has been proffered by the Banking Elite hasn’t happened. Central Bankers and Wall Street profiteers believed that they could continue to operate with wild speculation while reaping the results and encouraging more of the same. The financial wizards have not proved their financial literacy. Their speculative downfall started with bundling speculative instruments tied to U.S. housing debt that never should have happened to begin with. Hundreds of thousands, maybe millions, of Americans bought homes that never really qualified. The hot market was bolstered until the superheated financial bubble burst, leaving a worldwide recession based on what amounts to Wall Street gambling on highly leveraged contracts that have bankrupted the system. The reality is that the problem isn’t with foreclosures themselves, but with the bundled securities and expected profits that are tied to the failing mortgages. No doubt, these securities have been packaged and sold dozens of times even though they are worth nothing now.

More than three years into a U.S. housing crisis that started a worldwide recession, home foreclosures continue to further the devaluation of the U.S. economy. The waves of foreclosures no longer come from sub-prime loans that have defaulted. Foreclosures come from formerly respectable borrowers that have lost their jobs in an impoverished and drained economy that no functions to support a nation of hard-working Americans, but functions only to serve the Banking Elite.

In the first half of 2010, more than 1.6 million U.S. properties are in the midst of foreclosure filings, which include bank repossessions, default notices and auction sale notices. This is an 8 percent increase from the first half of 2009 which puts the United States on target to reach 3 million filings this year. These numbers show the fragile state of housing and real estate investment, which has been decimated. Government programs have been ineffective at stopping the national hemorrhage. Little has changed except that more Americans are living in rentals, with friends and family, in tents or on the streets, depending on their financial fortunes.

The U.S. government and banking profiteers built a house of cards on the idea that the cost of housing would always rise and that the profits would never cease. After massive bailouts, they are still stuck without a financial course to chart and exploit, beyond tapping government bailouts. The Federal Reserve holds trillions in useless notes and obligations in the hope that someday they will be worth more than the paper they are printed on. The economy continues to spiral downward despite limited attempts by big money multinationals to bolster the market.

Corporate multinationals and banking bigshots aren’t here as charities. They demand to make money for shareholders. For decades they have profited from U.S. tax law and from the backs of manufacturing slaves in the third-world. Now they seek to hold the bottom line and to keep their organizations alive. Now they are cannibalizing inept governments to sustain themselves. Stagnation is preferable to loss as the United States becomes the new third-world in their great plan to level the national playing field through globalization. Welcome to the brave new world of globalism, where everyone is equal except for the corporate oligarchy.

It isn’t pretty, but is pretty much as advertised.

July 11, 2010

Recession: The Ol’ Double Dip?

What is happening in the U.S. economy? The  newborn atmosphere of a slow recovery has plummeted since the start of the year when financial agencies were debating when to announce an interest rate increase. That is no longer the case.

The tax credit for first-time home buyers for up to $8,000 was over in April. Since then, housing transactions have nearly vanished. The mortgage loan interest rate has fallen to historic lows. The economic upturn that authorities claimed earlier this year simply the result of economic stimulus measures by the United States government.

Events are just as somber outside of the United States. From all appearances, a $1 trillion relief package ended the financial crisis that hit Europe. Still there is not a sign of recovery. Germany provided the needed stimulus funds, but is no longer providing capital to keep failed economies that have squandered credit with bankers solvent. Efforts to revive the economy have resulted only in more loss as bankers continue to plunder with their derivative cons. The U.S. has been fearful of making changes for the banking and finance community. Central bankers are still in charge, printing dollars as if there were no tomorrow.

Job are gone in the United States, likely forever. This is the admission of VP Joe Biden a little more than a week ago. States are looking at emergency measures to see what they can do to avoid the bleeding of jobs to other lands and to other peoples. Arizona is due to begin enforcement of a controversial immigration policy that is designed to return employment back to Arizona residents since measures by the federal government have been lackluster to non-existent in many places. The nation is full of illegals, the exact number unknown.

The price of a global economy is likely to be high. Every economy is subject to bring another one down. No one has discovered a way to move out of the doldrums. $787 billion in the U.S. was designed to boost domestic consumption, but the market is still cold. Congress has moved to bolster the economy through The Buy American Act, a ancient law passed in 1933 that requires the suppliers of the government to use American made products. Lawmakers are afraid to close tax loopholes that have remained open for corporations since 1991. As a result, nothing changes.

This has cooled temporary benefits of trade by corporations in the U.S.  known as the trade deficit. Corporations don’t care about this public denuding of wealth. They simply look to their own profits, not a sustainable relationship over time. Politicians outside of the U.S. want to promote free trade, as if the United States has more to offer in this regard. Even during the recession, the States were the primary agent of consumption for the world. Reckless spending, careless law and the rise of the corporate oligarchy has resulted in a new world, with a more level playing field. That is, after all, what globalists have wanted. This means that the big players that the globe depended on for economic sustenance are no longer the powerhouses they once were.

The nation is in an economic quagmire because it has ceded its wealth to corporations, a.k.a. multinationals and central bankers. The common opinion is that nations should not try to survive at the expense of other nations. Even so, the reality is that this has always been the case. The homogenized sameness of global balance supports only those that are in place to take advantage of it. The majority of the world will suffer at the hand those few that won’t. What’s new about that? It’s simply more political pandering that benefits a few.

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