As world leaders gather today in Pittsburgh, Pennsylvania, for the latest G-20 meeting, expectations are running high among global elites that this, the latest international economic summit in a time of almost unprecedented world economic turmoil, will be the occasion when the world’s leading economic powers will finally achieve consensus on a range of issues that have been on the table for almost 70 years.
“The International Monetary Fund was the surprise winner at the last summit of the Group of 20 leaders, which agreed to quadruple the organization's resources to $1 trillion,” the Wall Street Journal reported September 23. At this week's summit in Pittsburgh, the Journal predicted, “The G-20 is likely to give the IMF an additional job: Monitoring whether nations are changing their economic policies to promote long-term growth."
The U.S. central bank has once again refused to open itself up to even the slightest amount of transparency. According to Bloomberg news, the Federal Reserve (Fed) Board of Governors is essentially snubbing a request by the Treasury Department for a public review of its structure and governance, even though the review was supposed to be led by the Fed itself.