4.04.2009

Obama Begins Turnover of USA Sovereignty to International Body

ALL of the U.S. regulatory bodies and ALL U.S. companies are put under international regulation.

http://canadafreepress.com/index.php/article/9908

Moving as quickly as he can to gut the USA and then divide its body parts amongst like-minded globalists, the USA’s Supreme Leader Barack Hussein Obama used the G-20 conference to begin his turnover of USA sovereignty to said internationalists and start the move toward a one-world government. Obama has signed off on international legislation—the *Financial Stability Board—that would regulate ALL firms, including those within the USA and places them under the responsibility of an international governmental agency.

On FNC’s Greta Van Susteren’s program, author and columnist Dick Morris noted “literally from April 2nd of this year, that is, today, it’s a whole new world of financial regulation in which, essentially, ALL of the U.S. regulatory bodies and ALL U.S. companies are put under international regulation, international supervision. It really amounts to a global economic government.”

Read more...


*Financial Stability Board

http://www.guardian.co.uk/world/2009/apr/04/financial-stability-board-g20

What is the Financial Stability Board?

It is the new regulator created by the G20 as an enlarged version of the Financial Stability Forum, which is an advisory group established in 1999 to promote international financial stability through better information exchange and international cooperation. The new FSB will include all G20 countries, Spain and the European Commission. The body aims to identify problems in the financial system and oversee action to address them.

Who runs the regulator?

The Financial Stability Forum is chaired by Mario Draghi, governor of the Bank of Italy. The secretariat is based at the Bank for International Settlements' headquarters in Basel, Switzerland.

What will the new regulator do?

The regulator will monitor potential risks in the economy, especially those involving the biggest firms, and will conduct "early warning exercises" and periodic reviews to spot potential trouble. It will cooperate with the IMF, the Washington-based body that monitors countries' financial health, lending funds if needed. The new regulator will report any possible threats to the stability of the global financial system to the G20 finance ministers, the IMF and central bank governors.

Who will the regulator oversee?

All "systemically important" financial institutions, instruments and markets. This will include, for the first time, the most important hedge funds. These will have to register and report their strategy, debt and risk levels. Hedge funds manage about $1tn (£67bn) of assets.

How will it work?

The body will establish a supervisory college to monitor each of the largest international financial services firms. It will monitor a firm's financial and operational structure, and any contingency funding arrangements, amongst others. It will act as a clearing house for information-sharing and contingency planning for the benefit of its members.

For more on Financial Stability Board go here...

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