Dick Morris: Obama at G20 created a "global economic government"; Bloomberg: there's a "New World Order" ("Financial Stability Board" with broad powers)

It used to be that the establishment presented talk of a New World Order as tinfoil hat talk. Now, the cat's out of the bag with even Bloomberg offering "G-20 Shapes New World Order With Lesser Role for U.S., Markets" (link):

At the end of a summit in London, policy makers from the Group of 20 yesterday delivered a regulatory blueprint that French President Nicholas Sarkozy said turned the page on the Anglo-Saxon model of free markets by placing stricter limits on hedge funds and other financiers. The leaders also pledged to triple the resources of the International Monetary Fund and to hand China and other developing economies a greater say in the management of the world economy.

And, while questioning the motives of Dick Morris is always advised, he seems to be on the right track for whatever reason, telling Greta van Susteren this (link; related video from his site attached):

...I think [G20] was a disaster, but it's probably a disaster he likes. 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.

Let me read you from the communique, Greta. "We agree to a framework of internationally agreed upon high standards. We will set up a financial stability board with a strengthened mandate to extend regulation and oversight to all systemically important financial institutions, instruments and markets" -- including hedge funds, all -- anything that they decide is important to the system -- "to endorse and implement tough new principles on paying (ph) compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms."

Just when Obama is accused of socialism, he's essentially creating world economic governance. This means that the FSB, this newly created board, Financial Stability Board [Note: description here], patterned on the Financial Stability Forum that now exists, headed by an Italian banker, populated largely by the European bank executives, will make the decisions on what standards our own SEC and Federal Reserve board should apply to all firms in the United States of any significant size about executive compensation, market activities, and a whole range of issues that used to be under free enterprise reserved for private decision making.

This is an unbelievably radical document! This trivializes everything Obama's done until now!

UPDATE: See also "The G20 moves the world a step closer to a global currency" (link):

A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order... "We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity," it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century. ...In effect, the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.

Sun, 04/05/2009 - 09:42 · · Importance: 9