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World Bank's Trial Balloon Popsby Bob AdelmannThe New American Nov. 09, 2010 |
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 Before the Internet, Robert Zoellick’s brief outline of suggested topics for the G20 meeting this week in Seoul, Korea, might have been considered just an interoffice memo. It appeared in London’s Financial Times, contained obscure references to arcane subjects that would be of interest only to international bankers determined to push their agenda for a world currency, and was written by a certified member of the internationalist “insider” cabal. But when Zoellick wrote that the “cooperative monetary system … should also consider employing gold as an international reference point…,” Internet bloggers picked up on it immediately, and the cover was blown. Zoellick’s bona fides as an establishment insider are impeccable: Phi Beta Kappa at Swarthmore, JD from Harvard Law, Master’s degree in Public Policy from Harvard’s John F. Kennedy School of Government, service in the Treasury Department during the Reagan administration, White House Deputy Chief of Staff to President George H. W. Bush, an executive vice president of Fannie Mae, a director of Goldman Sachs, and member of the Council on Foreign Relations. He helped bring China and Taiwan into the World Trade Organization, promoted the Central American Free Trade Agreement, and took office as President of the World Bank in 2007. When his suggestions for the G20 meeting went public, numerous commentators put their spin on what Koellick said. CNN reported that “His views reflect disquiet with the [present] international system.…” while Germany’s finance minister was moved to say that the current economic situation in the United States is in “deep crisis,” and criticized the Fed’s decision to inflate further its faltering currency: “It is not consistent when the Americans accuse the Chinese of exchange rate manipulation and then steer the dollar exchange rate artificially lower with the help of their printing press.” Read More |
