Obama Globalist

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Obama is a globalist.

He's said so.



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"Tonight, I speak to you not as a candidate for president, but as a citizen...a proud citizen of the United States...and a fellow citizen of the world."


Barack H. Obama


US Backing For World Currency Stuns Markets
The Micro Effect reports US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.

The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens.  David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.

"The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation," he said.

Geithner later qualified his remarks, insisting that the dollar would remain the "worldís dominant reserve currency Ö for a long period of time" but the seeds of doubt have been sown.

The markets appear baffled by the confused statements emanating from Washington.  Barack Obama told a new conference hours earlier that there was no threat to the reserve status of the dollar.

"I donít believe that there is a need for a global currency.  The reason the dollar is strong right now is because investors consider the United States the strongest economy in the world with the most stable political system in the world," he said.

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Flashback:  Barack Obama: We Must Embrace Globalism And The Emerging One World Economy
Obama Throws Support Behind World Tax Organization
Dan Mitchell says: Iíve been battling the Organization for Economic Cooperation for years, ever since the Paris-based bureaucracy unveiled its "harmful tax competition" project in the late 1990s.  Controlled by Europeís high-tax welfare states, the OECD wants to prop up the fiscal systems of nations such as Greece and France by hindering the flow of jobs and capital to low-tax jurisdictions.

Guided by a radical theory know as Capital Export Neutrality, the OECD wants to impose global tax rules that would prevent taxpayers from ever having the ability to benefit from better tax law in other jurisdictions.  This is why, for instance, the international bureaucrats are anxious to undermine national tax laws -- such as Americaís favorable treatment of bank deposits from overseas -- that enable people to escape onerous tax regimes.

Bolstered by support from the Obama Administration, the OECD now is taking its campaign to the next level.  At its Global Tax Forum in Bermuda, which ends later today (Wednesday), the bureaucrats unveiled a new scheme that effectively would result in the creation of something akin to a World Tax Organization.

The vehicle for this effort is a Multilateral Convention on Mutual Administrative Assistance in Tax Matters.  This may sound dry and technical, but the OECD wants all nations to participate in this pact, which has existed for a couple of decades but was radically expanded last year to give high-tax governments sweeping new powers to impose bad tax law on income generated in low-tax jurisdictions.

But the real smoking gun is that the OECD has put itself in charge of the "coordinating body" that will have enormous powers to interpret the agreement, modify the pact, and resolve disputes -- thus giving itself the ability to serve as judge, jury, and executioner.

This is a profoundly dangerous development with all sorts of very troubling implications.  Since Iím in Bermuda trying to destabilize this effort, I donít have time for extensive analysis, but hereís a press release from the Center for Freedom and Prosperity and here are some of my immediate concerns.

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