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"The United States is playing a strong leadership role in efforts to coordinate international policy through the G-20, the Financial Stability Board , and the Basel Committee on Banking Supervision. We will use our leadership position in the international community to promote (an) initiative compatible with the domestic regulatory reforms described in this report."It also recommended "Strengthen(ing) the Financial Stability Board....complet(ing) its restructuring and institutionaliz(ing) its new mandate to promote global financial stability by September 2009."
In addition, it urged "work(ing) with the Bank for International Settlements (BIS) and standard setters to develop macroprudential tools." Obama asked other nations to follow America's lead.
A Financial Stability Board (FSB) would be a step closer to global monetary control. G-7 nations, the BIS, IMF and other international lending agencies would dominate it. Wall Street would have greater than ever power. Dictatorial finance capital would follow.
In his 1966 book titled, "Tragedy and Hope," Carroll Quigley said:
"(T)he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences."
Incrementally they've moved closer to absolute global control of money, credit and debt to dominate economies, politics, commerce, and imperial adventurism. As a result, they've adversely harmed popular interests benefitting them.
As little as few people know about BIS, virtually no one ever heard of the I nstitute of International Finance (IIF) , and its enormous global power.
Created by 38 leading banks in 1983, it's headquartered in Washington. In November 2010, it opened an Asia Representative office in Beijing.
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