Legislators From 7 Countries Call For Release Of TPP Text

Dozens of legislators from seven of the 12 countries negotiating the U.S.-led Trans-Pacific Partnership trade agreement took the unprecedented step today of calling for the full TPP text to be released publicly before it is signed. The open letter reads simply:

We, the undersigned legislators from countries involved in the negotiation of the Trans-Pacific Partnership Agreement, call on the Parties to the negotiation to publish the draft text of the Agreement before any final agreement is signed with sufficient time to enable effective legislative scrutiny and public debate

Jane Kelsey, a prominent New Zealand TPP critic and professor at the University of Auckland, said of the joint letter: “The trade ministers from the TPP parties have backed themselves into a corner with their extreme secrecy. That position is now untenable.”

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Uhm, yeah, it would be nice to learn beforehand about what we’re supposed to sign on, right?

Karen Hudes: Either We Take Back Our Gold, Our Legality, or We’ll Have WWIII

Can we pull the world out of this economic calamity? Former World Bank Attorney Karen Hudes says, “It may be that we don’t, in which case, we end up in what happened just before we went into the dark ages, when gold went into hiding . . . . We can bring this gold that belongs to humanity out of its cloak of secrecy and out of hiding or we can go back into the dark ages. And we can have pestilence and starvation. . . . Civilization breaks down. We cannot pay for our international trade. Either we take back our gold, our legality, and we tell this group that thinks it’s above the law that it is not above the law, or we can kiss ourselves goodbye. Humanity will not continue, we will have World War III. Join Greg Hunter as he goes One-on-One with former World Bank Attorney Karen Hudes.

Watch here »

Full article here:

U.S. Currency Weak and About to Crash—Karen Hudes

Scary 1929 market chart gains traction

CHAPEL HILL, N.C. (MarketWatch) — There are eerie parallels between the stock market’s recent behavior and how it behaved right before the 1929 crash.

That at least is the conclusion reached by a frightening chart that has been making the rounds on Wall Street. The chart superimposes the market’s recent performance on top of a plot of its gyrations in 1928 and 1929.

The picture isn’t pretty. And it’s not as easy as you might think to wriggle out from underneath the bearish significance of this chart.

See for yourself »

Amazing, innit?

UN panel: corporate tax avoidance is Africa’s biggest financial drain

Can Thabo Mbeki, the second president in post-apartheid South Africa, help save the continent from the scourge of corruption and illicit money outflows? The United Nations seems to think so.

Mbeki is the public face of a UN-sponsored group – “The High Level Panel on Illicit Financial Flows” — that is in the process of drawing up what it says will be practical recommendations to end the flight of much-needed capital from Africa whether from outright corruption, criminal activities or, most significantly, tax avoidance schemes by multi-national corporations.

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Scandal: Bank Of England Encouraged Currency Manipulation By Banks

Raise your hand if you are surprised that, as has emerged, virtually every major bank was manipulating currencies (and everything else) whether as part of the “Bandits’ Club”, the “Cartel” or some other – until recently- secret message room.

That’s what we thought.

Now raise your hand if you thought the manipulation could be so pervasive, so glaring and so in your face, that even the oldest central bank – the Bank of England – and who knows how many other monetary authorities, were openly encouraging traders from these private banks to do more of the illegal activity they had been engaging in – namely manipulating currencies – with their explicit blessing knowing very well such behavior is undisputedly illegal.

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TPP Fast Track Crawls To Near Halt, Opportunity To Reframe Trade

Developments on fast track trade promotion authority continue to slow progress on two controversial corporate trade agreements, the Trans-Pacific Partnership and its European cousin.  The incoming chair of the Senate Finance Committee, Ron Wyden (OR), has said he is not going to rush on fast track.  The Baucus-Camp fast track bill seems to be dead and if there is going to be a fast track bill it will be something different from traditional fast track laws, most recently passed in 2002.  Members of Congress realize that rigged global trade agreements are not popular with the American people who have learned the lesson of NAFTA — corporate trade only helps the transnational corporations it does not help workers in the United States or around the world, puts the environment at risk and creates economic disruption that harms economies.  The economic harm to the United States is seen in massive trade deficits, losses of hundreds of thousands of jobs and lowered incomes since the modern era of free trade took root in the Clinton era.

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Despite all the media blackout, our message has arrived, loud and clear.

As TPP Opposition Soars, Corporate Media Blackout Deafening

Last week, more than 550 groups, representing tens of millions of individual members, signed a letter to members of Congress urging them to vote against a push by President Obama for ‘fast track’ authority for the Trans-Pacific Partnership, a so-called “free trade” now under negotation between the U.S. and eleven other Pacific rim nations.

The week before that, another 50 groups launched an energized online campaign called StopFastTrack.com in order to kill the TPP agreement—dubbed “NAFTA on steroids”—that they say “threatens everything you care about: democracy, jobs, the environment, and the Internet.”

But if you watch the evening cable or broadcast news shows, you might not know anything about the TPP—not what it is, not why Obama says it would be good for the country, and certainly not why these hundreds of public interest groups, environmentalists, economists, and labor organizations say trade agreements like this are the source of economic and labor woes, not the solution to them.

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They want to hide this from the public so badly that they rather endure their own self-destruct, haha.