July 7th, 2009
On June 23, 2009, Lorenzo Bini Smaghi of the European Central Bank, gave a speech at the Aspen Institute Italia called ‘The world after the crisis: Designing the future. A monetary order for the XXI century.’
July 6, 2009
|Italian economist and member of the Executive Board of the European Central Bank, Lorenzo Bini Smaghi.|
‘(…) We have been searching for a new monetary order since the fall of the Bretton Woods agreement, in the summer of 1971, and even that order was not so orderly, after all.’
In his speech, Smaghi concludes that the IMF/Worldbank has taken its rightful place as head honcho of the ‘international monetary order’, undermining the autonomy of nation-states as it proceeds with its long-term plan of a global government and a single world currency.
‘The fact that the crisis has restored the IMF to its place at the heart of the international financial system should provide some hope in this respect. (…) Most of the IMF’s shareholders seem to favour making IMF financing easier. (…) In sum, a new world monetary order- (…) requires a mechanism to keep imbalances in check. Key elements of such a mechanism include a prominent role for the IMF in two essential areas: strong and effective surveillance in crisis prevention, and responsible lending, with appropriate limits and conditionality, to countries in need.’
Here it is. Surrendering national and even regional economic power to a world body, a world bank, is the main goal of the transnationalists. And all this in the name of ‘preventing’ crises- for which- by the way- the central bankers are more often than not responsible in the first place.
In a speech delivered in 2000, member of the executive board of the ECB, Sirkka Hämäläinen stated:
‘In conclusion, I should like to come back to Paul Volcker’s prophecy. He might be right, and 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.‘
The prophecy by long-term chairman of the Fed, Paul Volcker, the speaker is referring to went as follows: ‘if we are to have a truly global economy, a single world currency makes sense.’ But, as it turns out, 50 years ago this process she talks about was far from impossible to imagine. In fact, as the Bilderberg memos of 1955 reveal, plans for a world government were well beyond the stage of wishful thinking or geopolitical daydreaming fifty years ago. It is- after all- a much older plan envisioned way back and pursued by the same nobility responsible for centuries of oppression in Europe. Their feudal model has been passed on from generation to generation, like the blueblood racing through their veins.
On another occasion, Hämäläinen repeated her wish for a global economic integration:
‘As a longer-term vision, one should see European integration as a step towards improving global co-operation and securing peaceful and balanced development in the whole world.’
Meaning of course, global government must replace the sovereignty of nation states. The word ‘peaceful’ translates to the absence of war- for once potentials rivals are eliminated, there is no longer conflict. A consolidation of power, in other words, by the central banks of the world.
Jurgen Stark, at the international conference of central bankers and economic educators in 2006, presses the point that only an independent central bank should be given the instruments of setting interest rates, maintaining price stability and overseeing the economy as a whole:
‘Central Bank independence is nowadays enshrined in many central bank laws and statutes around the world. In order to ensure that this achievement also prevails in the future, broad public awareness of the benefits of central bank independence is essential. Fostering and preserving such awareness requires, in particular, that the independence of a central bank, once granted, is respected by the government in question and not undermined by political interference.’
Stark describes this effort of guaranteeing the omnipotence of central banks by propagandizing people and elected governments as improving ‘economic literacy’. In reality it is a synchronized effort by the central banks to consolidate power and qualifying anyone who criticizes their monopoly as economically illiterate. Stark:
‘Furthermore, to underpin its institutional independence, a central bank also needs to be given functional, personal and financial independence. Functional independence implies that the central bank can apply its own judgement in the conduct of monetary policy with the aim of achieving the objective specified in its mandate. A key element of a central bank’s functional independence is its lasting control over the money base and its ability to freely choose the instruments which it uses to implement its policies.’
Both the European Central Bank and the Federal Reserve have claimed that political oversight and transparency will be somehow disastrous for their operations and, subsequently, the world economy. They want it all, it seems, and they want it now. The rational behind all these outrageous preconditions can be summed up with the words of Jean-Claude Trichet, president of the ECB, in 2005:
‘We Europeans know that we can deliver structural reforms: we have done that efficiently in the past. The new state of the world is only adding new reasons to proceed in a direction which has been the European strategy since the late ‘50s, and has contributed, over almost half a century, to productivity progress, prosperity and jobs.’
The economic crisis of the last year has added to a sense of urgency- with everyone with a stake in this new world order screaming for one world government at the top of their lungs.
One currency to rule them all, one currency to find them, one currency to bring them all and in the darkness bind them- one could say, superimposing Tolkien’s Ring-mantra over the objectives of the world’s central banksters.