The document was agreed to at an informal meeting of expert “facilitators” and was made available on June 22 at 3 p.m. It is doubtful that any changes will be made to it.
The conference was postponed from June 1-3 to June 24-26 at the U.N. in New York. While the “outcome document” has been watered down somewhat from the previous version, it still reaffirms attainment of the U.N.’s Millennium Development Goals, which would require the payment of $845 billion from U.S. taxpayers. A commitment to the MDGs was a stated objective of the Global Poverty Act, which Barack Obama had introduced as a U.S. senator. It requires the U.S. to devote 0.7 percent of Gross National Income to foreign aid.
Now, as President, Obama can bypass the Congress and simply direct his Ambassador to the U.N. Susan Rice to approve the U.N. conference document. Then the pressure will be increased on Congress to come up with the money and satisfy our “international commitments.”
This is the pattern that he followed in regard to more money for the International Monetary Fund (IMF). After agreeing at the G-20 summit to provide more money for the IMF, the Obama White House slipped the cash and credit into the recently passed emergency war funding bill. The Obama White House had added billions in cash, as well as a $100 billion line of credit, for the IMF.
Rep. Mike Pence commented, “This legislation, which includes $108 billion in loan authorizations for a global bailout, for the International Monetary Fund — at a time when this government has run up a $2 trillion annual deficit — I believe does a disservice to taxpayers and to those that defend us. Passing a $108 billion global bailout on the backs of our soldiers is just not right.”
The U.N. conference document explains where all of this is leading — the destruction of the American dollar as the world’s reserve currency and the build-up of global institutions such as the IMF and the U.N.
It declares that “We acknowledge the calls by many states for further study of the feasibility and advisability of a more efficient reserve system, including the possible function of SDRs in any such system and the complementary roles that could be played by various regional arrangements.” SDRs are Special Drawing Rights, a form of international currency that enables global institutions like the International Monetary Fund to provide more foreign aid to the rest of the world. The U.S. pays for SDRs through its financial contributions to the IMF.
If implemented, the document would officially mark the end of the United States as the world’s leading economic power.
Urging socialism as the solution to the crisis, the document states that “Insufficient emphasis on equitable human development has contributed to significant inequalities among countries and peoples. Other weaknesses of a systemic nature also contributed to the unfolding crisis, which has demonstrated the need for more effective government involvement to ensure an appropriate balance between the market and public interest.”
The nerve center of this emerging new international socialist system will be the United Nations, a body that has developed a reputation for corruption and incompetence and whose “peacekeepers” have been implicated in sexual abuse and other human rights violations.
“The United Nations, on the basis of its universal membership and legitimacy, is well positioned to participate in various reform processes aimed at improving and strengthening the effective functioning of the international financial system and architecture,” the document says.
“This United Nations Conference is part of our collective effort towards recovery,” it adds.
The Obama Administration’s unofficial point man in U.N. deliberations has been economist Joseph Stiglitz, who has been coordinating a “Commission of Experts” that has reported to U.N. General Assembly President Miguel D’Escoto, the notorious Communist Catholic Priest who received the Lenin Peace Prize from the old Soviet Union.
Stiglitz produced his own document which called for “the issuance of additional SDRs,” “additional sources of funding” for global institutions, a new global reserve currency, and a new global credit facility. Key recommendations have been incorporated into the official U.N. conference document but Stiglitz and his “experts” provide far more details about them.
In terms of new funding sources, the document calls for “innovative sources of financing such as emission rights trading and financial transactions taxes…” The concept of “emissions trading” enables corporations to avoid limits on greenhouse gas emissions if they pay taxes to government. It is part of the “cap and trade” legislation now being pushed on Capitol Hill.
Chapter Five of this document, “International Financial Innovations,” goes into detail, declaring that “For some time, the difficulty in meeting the UN official assistance target of 0.7 percent of Gross National Income of developed industrial countries as official development assistance, as well as the need for adequate funding for the provision of global and regional public goods (peace building, fighting global health pandemics, combating climate change and sustaining the global environment more generally) has generated proposals on how to guarantee a more reliable and stable source of financing for these objectives.”
The document notes that an international airline ticket tax is now in effect, as a result of the actions of the “Leading Group on Solidarity Levies” that now involves close to 60 countries and major international organizations. This money is going to fight global diseases.
The term “Solidarity Levies” is U.N.-speak for global taxes.
The Stiglitz document explains, “Some of the initiatives that have been proposed encompass ‘solidarity levies’ or, more generally, taxation for global objectives. Some countries have already decreed solidarity levies on airline tickets but there is a larger set of proposals. There have also been suggestions to auction global natural resources — such as ocean fishing rights and pollution emission permits — for global environmental programs.”
It goes on to say, “The suggestion of taxes that could be earmarked for global objectives has a long history. To avert their being perceived as encroachments on participating countries’ fiscal sovereignty, it has been agreed that these taxes should be nationally imposed, but internationally coordinated.”
So the nations of the world, including the U.S., will collect the taxes but then turn them over to institutions such as the U.N. The world body will function, in effect, like a global IRS.
Is it too much to ask that our media take some time off from talking about the girl with star tattoos on her face, “Jon & Kate Plus 8,” and Perez Hilton, to examine what is going on at the United Nations?