SURRENDERING SOVEREIGNTY
By DICK MORRIS
While all eyes were on the rantings of Ahmadinejad at the United Nations, the United States -- under President Barack Obama -- was surrendering its economic sovereignty at the G-20 summit. The result of this conclave, which France's President Nicolas Sarkozy hailed as "revolutionary," was that all the nations agreed to coordinate their economic policies and programs and to submit them to the International Monetary Fund (IMF) for comment and approval. While the G-20 nations and the IMF are, for now, only going to use "moral suasion" on those nations found not to be in compliance, talk of sanctions looms on the horizon. While the specific policies to which the U.S. committed itself (reducing the deficit and strengthening regulatory oversight of financial institutions) are laudable in themselves, the process and the precedent are frightening. We are to...
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While all eyes were on the rantings of Ahmadinejad at the United Nations, the United States -- under President Barack Obama -- was surrendering its economic sovereignty at the G-20 summit. The result of this conclave, which France's President Nicolas Sarkozy hailed as "revolutionary," was that all the nations agreed to coordinate their economic policies and programs and to submit them to the International Monetary Fund (IMF) for comment and approval. While the G-20 nations and the IMF are, for now, only going to use "moral suasion" on those nations found not to be in compliance, talk of sanctions looms on the horizon. While the specific policies to which the U.S. committed itself (reducing the deficit and strengthening regulatory oversight of financial institutions) are laudable in themselves, the process and the precedent are frightening. We are to...
READ MORE.
posted by HeavyHanded at
8:05 PM
1 Comments:
Great Article.
By
ablur, at 3:42 PM
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