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Global Protests Pressure G20
World leaders are under pressure to produce a decisive plan to rescue the euro zone after a meeting of G20 finance ministers vowed that they did not want any ''contagion'' from Europe's financial crisis to affect their own economies.
Placards cover two ATM machines outside St Paul's Cathedral in London yesterday. (photo: AFP) The ministers met in Paris as protests against corporate greed, government incompetence and growing inequality went global, with demonstrations in 950 cities in more than 80 countries intensifying pressure on world leaders to come up with a final rescue plan at a Council of Europe meeting due to be held in Brussels this weekend (October 22-23).
The head of the International Monetary Fund, Christine Lagarde, speaking after the Paris meeting, said several ministers from developing countries raised concerns over the crisis in Europe.
''It's clear that compared to our meeting three weeks ago in Washington the situation has not got better. If there has been a change, it's a negative change. Risk perspectives are more sombre and the weak economic situation of advanced economies is now affecting emerging countries,'' Ms Lagarde said.
''There was a clear consensus around the room that the key priority at this point in time is for the members of the euro zone and for the Europeans in general to address the overall complex issues,'' she said.
Germany and France have said they have a proposal that will be announced at the Brussels summit. The deal will probably involve increasing again the size of the euro zone's bailout fund, shoring up Europe's shakier banks and settling the continuing debt crisis in Greece with a partial default.
It is unclear whether such a plan would settle the growing popular unrest. Leaders are focused on rebuilding confidence in the financial system, but protesters say they are fed up with the financial system being prioritised over the needs of people.
The worst weekend violence was in Rome, where 70 people were injured, three critically, after street battles broke out when small groups of young men set fire to cars and shops. Police responded with water cannon, batons and tear-gas.
Tens of thousands turned out in Spain, which is suffering 46 per cent youth unemployment as austerity bites, while about 3000 people took part in London, with some protesting all night outside St Paul's Cathedral. WikiLeaks founder Julian Assange addressed the crowd.
Demonstrations that attracted about 5000 people supporting the Occupy Wall Street Movement in New York resulted in 70 arrests.
The protesters got sympathy from the chief of the Bank of Italy, Mario Draghi, who is set to take over as head of the European Central Bank next month.
''Young people are right to be indignant,'' he told Italian media. ''They're angry against the world of finance. I understand them … We adults are angry about the crisis. Can you imagine people who are in their 20s or 30s?''
Talks to finalise the French and German rescue plan may extend into the meeting of G20 leaders in Cannes in November, which will be attended by Prime Minister Julia Gillard.
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Show AllA shift in global consciousness is occuring. This reflects not merely the demand for reforms but the need to completely redesign civilization. The very privileged superrich do not want an end to the system that allows them to completely dominate and live in ultra-luxury. The more they arrogantly demand that the present system remian in place, the more they will reveal themselves to be nothing but parasites. Their system is bankrupt in every way.
If the superrich had stopped the pillage at the point where they were assured of "living in ultra luxury", the global economy would never have melted down in 2008.
The superrich's goal is for the 1% to own everything, leaving the 99% with nothing. Once they had every luxury obtainable, the superrich embarked on a power trip to destroy the 99%.
I'm glad to see the term parasite used to describe our lords and masters. I've been doing it for years.
And these leeches are the first to scream bloody murder at the mere suggestion that the poor, elderly and sick deserve at least a modicum of compassion from our civilisation.
How dare anyone even consider offering succour to such free-loaders as the unemployed, poverty stricken labor class? Their only purpose is to provide a vast reserve of disposable slaves to serve the needs of the master race!
Well said. Hear, Hear!
Central to Karen Kissane's article is the passage,
"It is unclear whether such a plan would settle the growing popular unrest. Leaders are focused on rebuilding confidence in the financial system, but protesters say they are fed up with the financial system being prioritised [sic] over the needs of people."
Following the financial crisis in the popular media closely, especially the crisis in the EU, article after article concerns plans to sustain the financial system. In all honesty, NO attention concerns "the needs of people." Indeed, the populace is to sacrifice to refinance the financial institutions. (Now there's an irony, the financial institutions are in need of financing!) Never in all the many, many, many, articles on the subject is it made clear why the financial institutions need be refinanced. Neither is it made clear why the public need suffer indefinite austerity to refinance the financial institutions. Presumably, the financial institutions need be refinanced because they provide loans to the public, which generates economic "growth." But, if the public must suffer indefinite austerity to refinance the financial institutions, public demand for loans must surely decline, eliminating a primary argument for refinancing the financial institutions. So, without public demand for money, what are the financial institutions to do? As we have discovered, invest in speculative ventures. This generating money for the sole purpose of generating more money, without tangible public benefit, it has no justification. Thus, again, why the public need to suffer indefinite austerity to refinance the financial institutions?
Occupy Everything!!!
Living paycheck to paycheck sometimes makes me wish life were just a little easier to cope with, it’s just the little things that sometimes overwhelm. It’s at times like that, that I wish I could wish my fears away. If I could just squench my eyes shut and shake my clenched fists by my face and just wish for a few bucks extra this month.
That is just what Occupy Wall Street is about. While the 99% gather in the streets, Europe’s elite finance wizards are meeting to do just that... Wish for a few more bucks this month.
After just doubling their bailout slush fund to 450 billion Eurobucks this summer, the Europeans have been told that they have to more than quadruple the bailout money up to around 2.7 Trillion dollars. You see, whenever these wizards need some serious cash, they just wish it into existence. It’s true, these wizards utter spells of nonsense like, Leverage, CDOs and Investor Haircuts, when -- magic presto -- the money suddenly appears. I feel envious, I wish I could do that.
You see, back in time, money was a physical thing -- but, now if you want money, taxpayers will Guarantee that you be allowed to add a few zeros to your bank statement whenever you really need it. Yes, it’s good to be king. He who makes the gold, rules!
Rules. It’s all about bending the rules. The Europeans ignored their own rules about sovereign debt in the mad rush for the Eurobuck and now they are going to ignore their own rules about the governance of money to resolve the sovereign debt crisis and 99% of taxpayers are understandably unenthused.
It seems to me that these financial "ministers" are more concerned about minimizing the impact to the Evil Empire (international banking and the debt based monetary system) than they are about actually serving the people they theoretically represent.
Throw all Sock Puppets out of office at the earliest opportunity!
The "financial ministers" of the G20 were never elected to represent anyone. They were appointed to do one thing: protect the financial interests of the 01% against the rights of the 99%.
"World leaders are under pressure to produce"
what pressure?
so far you "leaders" have produced one big stinky mess. the pressure you feel has a name, "elite panic" because you feel impelled to prove your ability to govern everyone but your own inflated ego-centric selves, "we've got all under control. see, the establishment works!" no longer can people believe the system works. the pressure's off! so, sit back, relax and listen!
Some say OWS lacks a cohesive list of demands. I think there is a better way to demonstrate what the movement is about than again addressing the system trusting it will still work to fix itself. The best use of our energy is not in conversation but in action. This is what gives OWS its power, the fact that people are putting their bodies on the line to make change, not waiting for someone else to do for them. I would like to introduce the following into the continuing conversation. We must focus our energy on those parts of the machine that require our participation in them to continue. That is why I support the movement to Move Your Money from the big blood-sucking banks (B of A, Citi, Chase, Wells Fargo, etc.) and into local banks and credit unions. Also, I propose now a #dontfile movement to go out and encourage 5 million or more Americans to not file income tax next year. Income tax is a form of illegal extortion, it is tribute to a private corporation, the Federal Reserve, that has stolen the U.S. government's constitutional mandate to be the only entity to coin money for the use of the people and the general good. The federal Reserve has co-opted that role, sucking interest from us through taxes for the right to use its toilet paper for money. We rent those reserve notes and pay interest through taxes, how do you think those guys got so rich? They get a percentage off of each economic transaction every time money changes hands. The only ones who are exempt from this little circle of pillage is the Upper crust of CEO's, especially in the financial sector for they are the main money movers. We really have to cut them off at the knees. Can you imagine a more peaceful protest than to just not mail that envelope or consult H.R Block, or push that send button? Think about it..... P.S. You people in the world outside of the U.S. are subject to same banker class as us, the same corporate blood-sucking, war-mongering insanity. So what if you deprived the beast of its main food - your energy, your fear, your complacence. Move your money, buy gold and silver, refuse to pay taxes, and don't buy from the companies that are raping you. THAT GOES FOR US ALL!
Maui, I support the not paying taxes, but how do you get away with it with everything being computerized? I know Timmy, Daschle and many other have finally gotten caught, but it was only cuz they were finally scrutinized.
Everyone forgets that Congress never ratified the 16th amendment making us pay them. Look forward to your answers.
I think tax payers should get a voice in where their taxes go.
$3billion to i$rael for how many years and how many other countries?
Corporations get subsidizie and then not only not pay taxes, but then hide profits off shore.
Our taxes pay for all the free things that the Congress whores can afford to buy themselves.
The bank heist was criminal. Why did we have to cover their crimes, debts?
Just like the bogus wars that we pay for the corporations so they can get their hands on someone elses resources.
And still there are people stupid enough to join up to murder people they don't know.
They have starved us only so long as we have given them the power to do so. Withdraw that power and create a new world now, we do not need their permission. #itsourworld
The only problem with "Don't pay your taxes, refuse to file" is that for most of us 99%, our taxes have already been withheld and spent by the government. If you are lucky, you may get a few bucks back.
The only people who don't have tax withheld is the 1%, and they are perfectly happy with the way things are going, though there is a miniscule amount of wealth out there that they haven't yet stolen.
The Oligarchy used to deal under the table to buy Congressmen, Senators and government officials. When they finally bought the Supreme Court, it allowed them to openly bribe and buy, exercising their "rights" as "Corporate citizens."
Now they can just throw a wad of cash on a Senator's desk and get what they want.
When they wore working their way to this level of control, they always left a few crumbs for the 99% to fight over to survive. That kept our minds off what the Kleptocracy was actually doing. Now that the Constitutional Republic of the United States of America has become a wholly owned subsidiary of the United Corporations of America, Ltd, they want to pick up the crumbs, too.
Probably the only thing that may save us (so to speak) is when every last item of value is finally owned by the 1% and then that small group starts fighting amongst themselves to see which one of them gets it all.
The old economy is bumping up against planetary resource limits, and dumping of poisons appears to have much lower limits than expected. A new way which includes the fifteen hour work week will bring health, prosperity and way more fun to 99% of the people.
it's too late!, the coup has already taken place!:
http://www.counterpunch.org/2011/10/14/a-coup-in-the-european-union/
... the largely neo-liberal European media see no reason to make an issue of what’s happening behind the scenes in Brussels and assist in keeping the lid on protest until too late for citizens to intervene. All this spells greater victories ahead to come for neoliberalism and the failure of European economies. No, sorry, only failure for 90 percent of the people. The rest will be fine. Not to worry. As Martin Wolf recently paraphrased Tacitus in the Financial Times to describe the European situation, “They create a desert and call it stability”.
The world is in turmoil and the sheep are about to get sheered once again. .....Let the effing markets crash so we can get to the truth of what everything is REALLY worth. ........"Successful investment is that which brings real growth to an economy, not just an inflated stock portfolio whose value can disappear over night."
In short, the elites crapped their nest and now they want us to clean it up. The OCW movement saying to them, "clean your mess up yourselves." As people learn the vaule of individual participation in a decentralized movement, they have found that the 1% simply cannot deal with widespread unrest. There are too few of them and their cronies like the police and military are too few as well. Keep the broad based movement alive and teach it to thrive. Participate ! Success lies in the numbers and in creative vision building and resulting actions. Strong people build strong visions and take strong actions.
Things to think about: During the 9/11 false flag "attack" Dick Cheney officially launched the Continuity of Government, or GOV. This is an alternative government which was created "without the Constitution". It suspended the Constitution. We also have FEMA and the notorious FEMA camps. We have these to contend with before we are again a free nation.
"They" are simply compelled to do the bidding of the spirit(s) which possesses them......Lucifer & his minions. And some of us even know the outcome of this rebellion, and it isn't pretty at all. Never was, never will be; and yet, justice will prevail.....Oh, the blood of Jesus...Oh, the blood of Jesus....Oh, the blood of Jesus, that washes white as snow!