G30 Calls for End to IMF Veto Power

I didn't see this posted on. To me its big stuff yet more of the same Elite push to Global Governance especially stronger IMF. Just like G20,WB, the IMF itself and every other elitist parrot-organization.

online.wsj.com...
www.nytimes.com...

In a report on IMF reform, the Group of 30 said no individual country should be able to veto decisions by the body, and supported the idea of the IMF acting as a global reserve, using its various lending facilities.

“GLOBAL RESERVE”!!!!!!!!!!

It seems as though Guillermo Ortiz spearheaded the event. Ortiz is not only Governor of Banco de Mexico he is also current Chairman of the Bank for International Settlements.

www.bis.org...
www.abovetopsecret.com...

Now in my opinion, Mexico's Central Bank is equally corrupt/criminal/malevolent as say, the Federal Reserve without all the two-faced pandering to the masses. What I find odd is it's distinct place in international interactions among Central Banks. For Ortiz to be Chairman of the BIS says a lot beyond his personal credentials. That these statements calling for substantial changes to IMF's protocol are made by the BIS chairman means that the BIS is itself instep with the findings of the G30 as it is always. The G30 and BIS are likewise interchangeable with IMF policy. So essentially these “recommendations” will become manifest.

Here's the current members of G30:

www.group30.org...

If you are familiar with famed economists you'll notice these are some of the best, most powerful economists in the world. Many of these individuals have ruined many lives through their economic and business decisions. While G30 serves mostly as a think tank, it's recommendations often end up being heeded.


These announcements by G30 represent what I think is more authoritative institutional support for what
is an ever-clearer transition to global government. This dictatorial consensus of the banking elite is becoming more and more obvious as it nears fruition.

In another move to shift the balance of power within the IMF, the G30 is pushing for the formation of an IMF Council that would replace the fund's International Monetary and Financial Committee as its guide on policy matters.”

Now why would this be? The WSJ article states this to be a move mostly by the US to reduce European representation within the IMFC. Perhaps this could be a sacrifice of US veto power and compromising by simply taking things off the books. The reason I say that is because the IMFC is like one of Obama's Czars-- ie they informally recommend policy to the Board of the Directors, thus assuring less accountability, less public exposure, and less for outsiders to complain about for the Anglo-US faction that comes with veto power. So they Status Quo Banking Cartel Elite can maintain bully power without Veto. ***And less scrutiny.
Also I think that is also a call to simplify Europe under the EU and especially the ECB (Euro Central Bank) Keep in mind that Jean-Claude Trichet who directs the ECB is also on the G30 Panel as well as the BIS.

reply to post by Moonsouljah


Never heard of the G30, but this smells like semi-fresh doom. Starred, flagged, and the lot.

reply to post by pluckynoonez


Unlike G20 in which nations are represented by their banking heads the G30 has many private business members and is mostly informal. Take for example Stanley Fischer whose biography on Wikipedia for some reason leaves out his role at Citigroup from 2002-2005. Or the other G30 members from Wall Street's finest- Sachs, Merril Lynch, JP Morgan.

IMF SDR's would still make the Dollar a reserve currency.

SDR (IMF Reserve) is a basket of:

US Dollar.
Pound Sterling.
Euro.
Yen.

All four would be considered reserves... which is not a good thing for the Yen, the Pound or the Dollar.. so I doubt these countries would let that happen.

reply to post by Rockpuck

Isn't it odd how some in the media have been willing to mention basket currencies but not necessarily SDRs? Maybe its just me. Seems like lately they've been alluding to what is for all intents and purposes an SDR but new and somehow different.
If you think it's bad for the dollar, yen, pound, do you think it would be good for Euro then? I'm not insinuating but asking and also where is the yaun? Barring some epic global currency default it has assets.