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OBAMA ENDORSES SOROS,PI-AIVTOLOOTA}IERICAByCliff KincaidApril4,2oogNewsWithViews.comAt the I zg summit n London,PresidentBarackObamawon rave eviewsrom reporters,manyof whomclamoredike schoolkids or the chanceo askhim a questionat his newsconference,ut the officialconferenceocumentproveshat plansarebeingmade or whatcanonly be described s he further lootingof Americanaxpayersn order o feedunaccountableand corruptglobalentities.This s not "globalcooperation," sso many n the mediadescribedt, but a massive ewexpansion f thepowerand authorityof internationalagencies nd nstitutionssuchas heunited Nations,he nternationalMonetary undand he world Bank.By em-bracin_ghe "glopalplanfor recovery ndreform,"which s how t wasofficiallydescribed, bama xplicitlyendorsednternationalMonetaryFund IMF) surveillancef theU.S.e_conomy,reation f aglobal FinancialStabilityBoard,"he expandedseof a newqtg!-gt urren-cy{e{ SpecialDrawingRights,a newglobalwarming reaty,andcostlyfulfillmentof theUnitedNationsMillenniumDevelophentGoals Mocs). This s n iddition!9 t!. explicitand eported ommitment f over$r tiiilion in additionalaxpayermoneyo theIMFand heWorldBank.TheSpecial_Drawingightsplgposal,which savehicle or further U.S. oreignaid to the rest9f theworld,was he brainchildof billionaireGeorge oros,who old CNBC'JMaria arriromothat theGzo conference asa "success."Dubbedhe Ienin of the erstCentury"by theRiponForummagazine, ecause f hisapparenttransformationrom super_-capitalistnto "neo-Marxist,"Sorosaged anexpensiveut 'unsuccessfulampaigno defeatPresidentGeorgeW. Bush or re-Jlectionn 2oo4.Hehasbeendeterminedo install.a uppet n theWhitJHouse.In addition o financingpemograticPartypoliticiansand eft-wingorganizationsuchas heACLU,hehassubsidized widearrayof liberalcauses,anging rdm ibotrion rights o luyrigbts o legalization f dangerous rugs.Even ormermetriU.isof the terroristWeathei -Underground,uchas BernardineDohrnand LindaEvans, aveappeared t functionssponsored yhis so-called pen Societynstituteor accepiedts giints.Soros adbackedObamaor presidentn 2oo8,saylnghat he had"thecharismaand hevision o radically eorientAmerica n theworld."His-prediction eemso be ..tify .o*i"gtrue.

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In the final analysis, he grandtotal of money o be ooted rom American axpayersas a resultof Obama's ommitmentsat the G zo conference ould easilysurpass rillions of dollars. n amajor understatement,he official conference gcumentcalls t "unprecedented nd concertedfiscalexpansion."ButwhileObamaendorsedhe documentand ts recommendations,he Congress f theUnited States an still havesomesayoverwhethersomeof the commitmentshe madeareputinto law.Considerhe commitment o the U.N.MDGs, or example. he document ncludes hestatement hat "wereaffirm our historic commitment o meeting he Millennium DevelopmentGoals..." his s, n fact,a disguised ttempt o make hen-SenatorObama'sGlobalPovertyActthe law of the land through executiveaction.This measurealonehasbeen estimated o cost$B+S illion and t wasneverpassed y Congressecause f publicopposition. n similarfashion, he currentCongress analso esistcompliance ith the U.N. mandate."Wewill support,now and n the future, o candid,even-handed, nd ndependentMFsurveillance f our economies nd inancialsectors, f the mpactof our policieson others,andof risks acing he globaieconomy,"he document tates. here s no exception or the U.S.Hence, he IMF will now be n a position o officiallymonitor andpassudgmenton U.S.economic olicies.We havebecome ike any othersecond- r third-ratepower n needof globaloversightand supervision.Theproposed newFinancialStabilityBoard FSB)"will havea "strengthenedmandate" ndwork with the IMF to "reshape ur regulatory ystems." mongother hings, ts mission s to"assess'uulnerabilitiesffecting he financial system, dentifz and oversee ction neededoaddresshem,""promoteco-ordination nd nformationexchange mongauthoritiesresponsibieor financialstability,"and"monitorand advise n marketdevelopments nd heirimplications or regulatory olicy."The FinancialStabilityBoard s the new name or a morepowerfuland expandedFinancialStabilityForum, a body originally designedo "promote nternational financialstabilitythrough nformationexchange nd nternational o-operationn financialsupervision ndsurveillance." embersof the group nclude he centralbank of variousnations, nternationalfinancial nstitutions, and supervisors n important.;frnancdalcenters.The documentalsostates hat "we call on the UN, working with other global nstitutions, oestablish n effectivemechanism o monitor the impactof the crisis on the poorestand mostlulnerable."Is this the sameU.N. that has achieved reputation or corruption, fraud, waste,andincompetence?s this the organizationwhose peacekeepers"avebeen ound guilty of thesexual buse f womenand childrenaround he world? t is one and he same.In the nameof holdingbig banksaccountable,herefore,Obamahasput the U.S. n the handsof "global nstitutions" that are somehowsupposedo helpprovidea "globalsolution" o the"globalcrisis." f anything, he recorddemonstrateshat these nstitutions make humanproblemsworse,not better.

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Nevertheless, ritish Prime Minister GordonBror.mdeclared hat "A new world order semerging ndwith it we'reentering nto a new eraof international ooperation."But viewed n another ight, Obamahassold out the sovereigntyof the United Statesand haslaid the groundwork or the deathof the U.S.dollar as he world'sdominantcurrency.WhilePresident ushstarted his insidiousprocess f holdingG zo meetings,Obamahas aken heprocessmuch urther down the road. It is truly unprecedented.The "LondonSummit- Leaders'Statement," atedApril 2,2oog, wasonly ninepages, ndthereweresomevagueand confusingstatements n it. But much of it wasboth understandableand frightening, f reporterswould only take he time to bother to read t."Wehaveagreed o support a generalSDR allocationwhich will inject $zSobillion into theworld economyand ncreaseglobal iquidity, and urgentratification of the FourthAmendment," he documentsays.Basic esearchwould disclose hat this is a reference oSpecialDrawingRights,a so-callednternational reserve sset"whichunder he Obamaplanu'ould evolve nto a kind of newglobalcurrencybasedon the willingnessof the U.S.and othercountries o dramaticallyncreaseundingof the IMF. In the wordsof the IMF, a SpecialDrawingRight s "a potentialclaim on the freelyusable urrencies f IMF members." hatmeans hat ts worth is based n part on claims o U.S. axpayerdollars. t is a new orm offoreignaid.The referenceo ratifying he FourthAmendment of he IMF Articlesof Agreement)meansthat Obamahasagreed hat the U.S.will vote o greatlyexpand he useof SDRs.But theCongress anhavea say n this.Thisproposal adbeendemanded y billionaire eftistGeorgeSoros. ndeed,accordingo anewsaccountn advanceof the Londonmeeting,he had come up with the specificgz5obillionfigure.As we had documented earsago,Soroshas ong viewedSpecialDrawing Rightsas a variationof a global ax to financemore foreign aid. Expanding he useof SDRs s another obviouseffortto drain wealthaway rom the United States.The two annexeso the G zo documentare ull of detailed ecommendationsor regulatingsuchmattersaspayand compensation t financial nstitutions and "international standardsnrelation o tax transparency."One of the main objectivess to reduce he ability of peopleandcorporationso avoidhigh tax rates."We reaffirmour commitment to address he threat of irreversibleclimatechange, asedonthe principleof commonbut differentiated esponsibilities, nd to reachagreementat the UNClimateChange onferencen Copenhagenn December2ooq.,"he documentstates.This s acommitment o sign a new globalwarming treaty hat could cost he U.S.economyevenmoretriilions of dollars.But this agreementwould also requireCongressional pproval.

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In a virtuai throwaway ine, the documentcalls or extending regulationand oversight o allsystemicallymportant financial nstitutions, nstrumentsand markets," ncluding "for the firsttime, systemicallymportanthedge unds..."If such a proposalwere actually mplemented,and thereare strongdoubts hat it everwouldbe, suchsupervision ouidpossiblyshedsome ight on the mysteriousbehind-the-scenesactivitiesof GeorgeSoroshimself, one of Obama's iggestbackers,who was convictedofinsider rading n France.While decrying he lack of regulation,Soroshasmadebillions of dollars operatinga secretiveoff-shore inancialhedge und and manipulating nternational inancial marketsand foreigncurrencies.Knownas"themanwho almostbroke he Bankof England"anddescribed y someas"extremely vil,"Sorosengagedn a complex inancial ransactionhat resulted n the BankofEngland osingbillions of dollars defending he British poundbefore having o devalue t. Hehas controversialnvestments n placesike Colombia,where he banks havebeenpenetratedby drug cartels ager o launder heir drugmoney.

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In a majorcourtcase iled by the aw offices f DavidH. Relkin,Soroshas ecently eenchargedwith "money aundering, ankruptcy raud,and bid rigging"and of havinga "patternof money aundering ctivities" hat includes he nvestment n the Colombian ankand usingan off-shore ax haven hat protects he identity of investors rom disclosure.A Sorosrepresentative asquotedby the Reutersnewsagency s saying hat the lawsuitwascompletelywithout merit.

,Uts'r*r ;lf ir*rrtlnli.th.er lfffiIdfnr;yTheSoros ole n the U.S.housingmarketcollapse ontinues o be he subjectof speculation,interestand evenCongressional earings.The collapse f the financialsystem n mid-September reatlydamagedhe electoralchances f John McCain and SarahPalin,who wereahead n the pollsat the time, and paved he wayfor Obama's ictory.In zoo8,Soroswasonceagainon the is t of highest-paid edge und managers, ccordingoInstitutional nvestormagazine's lphapublication.He made$t.t billion during he economiccollapse ndrecession.@ zoog Cliff Kincaid- All Rights Reserved