The recently concluded economic summit (June 26-27) of leaders of the G8 and G20 nations in Toronto was, according to most media coverage, an untidy row among those calling for continued government "stimulus" (Team Obama) and the rest of the major economies (led by Germany, the U.K., and China) calling for fiscal restraint and serious cuts in deficit spending. However, the much-ballyhooed disagreements over fiscal policy obscured the much more important result of the Toronto summit: the ongoing G8/G20 push to transform the International Monetary Fund (IMF) into a global Federal Reserve System, with financial regulatory powers to create money "out of thin air," as the Fed does, without having to request replenishments from IMF member nations.
What is the political ideology that governs the Democratic Peoples Republic of Korea? Communism, its government proclaims. Communism, on paper, rejects dynastic rule. The party may govern the state and the state may be given almost unlimited power over the lives of its citizens (or, rather, subjects), but those who rise to high positions in government or party jobs earned that honor by slavish devotion to the Communist Party — or so the story goes.
The Kingdom of Sweden took a dramatic turn toward totalitarianism with the adoption of a sweeping new education “reform” package that essentially prohibits home schooling and forces all schools to teach the same government curriculum.
Barack Obama arrived on Friday in Toronto for the G-8 and G-20 economic summits. This summit comes amid an unprecedented explosion of red ink in America from an approach to sluggish economies that Obama is recommending to other industrial nations.