Less than a week after Federal Reserve Chairman Ben Bernanke urged Congress to act with dispatch to pass new legislation giving the Fed and the Federal Government more surveillance powers and control over the financial sector, the Obama administration has unveiled a bill that, if passed, would put most of Bernanke’s proposals into effect.
The G-20 Pittsburgh summit is over, and the Steel City is returning to normal. For the rest of the world, however, the latest gathering of leaders of the world’s 20 strongest economic powers is likely to mark a turning point towards more comprehensive international regulation and control over finance and banking.
Almost as if a global memo had been sent out, headlines of major media outlets across the planet announced the unfolding of the coming “New World Order” — with a smaller role for the United States and freedom. A correspondingly larger role will be reserved for tyrannical governments like China and global economic management by international institutions, the news reports explained.