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maddezmom Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 05:18 AM
Original message
Russia calls for new economic world order
Source: Reuters

ST PETERSBURG, Russia (Reuters) - Russian President Vladimir Putin called on Sunday for the creation of a new world economic order that gives greater clout to fast-growing emerging nations.

Days after attending a Group of Eight summit in Germany, Putin suggested that club was outdated and failed to reflect a shift in economic power away from the industrialized West to countries like his own.

"If 50 years ago, 60 pct of the world's gross domestic product came from the G7, now it's the other way round, and 60 percent of the world's GDP is produced outside," Putin said in a speech to a major economic conference.

He also took aim at financial organizations such as the International Monetary Fund and World Bank, saying they were created in "a completely different reality" and had lost relevance in the fast-changing global economy.



Read more: http://news.yahoo.com/s/nm/20070610/ts_nm/russia_forum_putin_dc
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David__77 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 05:32 AM
Response to Original message
1. Irreversible trend of the times.
The developing world is coming up fast thanks to countries like China, India, and Vietnam. They deserve a bigger say in things.
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 05:37 AM
Response to Reply #1
2. They will TAKE a bigger say in things.
And we can't stop them.
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David__77 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 05:45 AM
Response to Reply #2
3. Good.
I hope so. They deserve it. China's economy will be larger than the US's within three decades at the longest.
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DavidDvorkin Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 12:11 PM
Response to Reply #2
7. Yes we can!
We can bomb them!

We can destroy them!

Because we're number one! We're the greatest! La la la la, I can't hear you, la la la la!
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Theduckno2 Donating Member (905 posts) Send PM | Profile | Ignore Sun Jun-10-07 06:14 AM
Response to Original message
4. "...telling the truth becomes a revolutionary act." Orwell
I wonder what George thinks of old Pootie Poot now. He even went after the dollar's status as a reserve currency!

For a good article on Petrocurrencies, in my humble opinion, read this by William Clark. ~1.2MB : pdf


http://www.petrodollarwarfare.com/PDFs/Hysteria_Over_Iran_and_a_New_Cold_War_with_Russia.pdf

I have yet to read his book, though I expect it is quite good. Any recommendations out there?



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Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 10:51 AM
Response to Original message
5. What Putin is saying is certainly true in South America, where country after country
has elected leftist (majorityist) governments (Venezuela, Bolivia, Ecuador, Argentina, Brazil, Chile, Uruguay), and where the new political thinking is anti-neoliberal (anti-global corporate predator), anti-World Bank/IMF, and pro-self determination. These countries are moving quickly to create new structures as a counterforce to U.S. influence--such as the Bank of the South (Venezuela, Bolivia, Ecuador, Argentina and Paraguay). What happened with Argentina is particularly fascinating. The World Bank/IMF essentially crashed Argentina's economy with ruinous loan policies (whereby the rich acquire World Bank loans, rip off the money and leave the poor to pay the debt, on onerous terms--cutting all social programs, and opening the country to resource exploitation and "free trade" sweatshops).

Argentina was a basketcase. But then a new coalition of the poor and middle classes rebelled, and went round with tiny hammers breaking every bank ATM display in the country, in protest. Three governments later--in quick succession--the people of Argentina finally got a good leftist government (that of Nestor Kirchner) who promised to get them out of World Bank debt and never get into it again. Enter Venezuela, flush with oil profits and having undergone its own democracy revolution, with the election of Hugo Chavez and widespread support for his socialist reforms. Venezuela helped bail Argentina out of World Bank debt, by buying up some of the debt on easy terms (and terms that promote social justice). This was the seed of the Bank of the South. Argentina is now well on its way to recovery, all indicators up. Venezuela thus helped to create a healthy trading partner for itself, Brazil and other countries. And there are other new structures such as Mercosur and ALBA (Latin American trade groups) that are strengthening regional cooperation, and big new cooperative projects such as the Brazil/Venezuela bridge over the Orinoco River, and gas/oil pipelines.

The Andes region (Venezuela, Bolivia, Ecuador in particular) is rich in natural resources (oil, gas, minerals, forests, fresh water, natural beauty) that have NEVER SERVED the interests of the people who live there. Bush and Cabal, of course, want their dirty hands on those resources--which is why they are so hostile to Chavez, a leader of the self-determination movement. The people who live there, through long hard work on democratic institutions, are insisting on a paradigm shift, away from U.S.-based corporate exploitation, toward national and regional Latin American independence.

The history of the U.S. is South America is one of gross financial exploitation, and support for hideous rightwing regimes that repress all dissent and torture and kill leftists, union organizers, peasants and anyone in the way of global corporate predator profit. South America is in full revolt against these policies. I tend to doubt that Putin approves of the democracy movement--or would survive in a truly democratic country (which Russia is not)--but he is certainly correct in identifying this worldwide economic trend, and I see it playing out quite clearly in South America as well.

About four months ago---in the midst of Bush saber-rattling against Iran--I noticed an article that said that Russia, India and China were holding a meeting to consider the issue of how to curtail the U.S./Bush bully. I've lost the url, ad can't recall the source. The context was Iran and oil. China and Russia both get oil from Iran. Not sure about India--but India may be nervous about Bush's clubfooted policies in Iraq, Pakistan and Afghanistan, which could easily destabilize the entire region, and gravely endanger India. Anyway, think what such a trio could do to "curtail" Bush. China holds a large chunk of U.S. debt, for instance. U.S. corps are quickly outsourcing everything to China and India, which could lead to a full scale rebellion of the U.S. labor force (most Americans). Bush has not only botched foreign policy; he's botched the U.S. economy, big time, allowing his super-rich puppetmasters to loot everything in sight, and driving up a $10 trillion deficit--an humongous and onerous debt unto the 7th generation. (--reminiscent of Argentina, the World Bank's "banana republic"). All three of these countries are nuke powers. But they don't have to get aggressive to contain the U.S. A few little financial tweaks by China, and we could go belly up.

Putin, though, may be enacting a segment of this three-country powerhouse strategy, by opposing the U.S. "missile shield" in eastern Europe. You see, pretty much the only card Bush has to play is his access to U.S. taxpayer dollars for armaments (--with the easy compliance of the Democrats). Country after country is rejecting U.S.-dominated "free trade." Country after country is freeing itself from U.S-dominated financial institutions. The U.S. is well on its way to going belly up, as it is. The Bush Junta has been borrowing against Social Security, and against government pension funds, to pay for war and for tax cuts for the rich. And it's gotten so that virtually the only thing we produce is armaments. War profiteers are the real drivers of U.S. foreign policy. Bush uses armaments and war in lieu of ideas. We have lost our edge--in creative ideas, and in our very productive work force and strong middle class. So Bush is reduced to peddling arms to "new" Europe, and others.

There is a little item in the news today about the rightwing, Bush-loving president of Mexico ASKING FOR a "Plan Colombia" (U.S. "war on drugs") for Mexico. This is about arms dealing, not about drugs--as it is in Colombia. A plus is that rightwing governments get the guns and bullets to oppress and kill union organizers, peasants and leftists. But it's mainly about war profiteering.

Putin knows that this is a Bush vulnerability. If he can't sell big weapons systems, he has nothing--or very little--else. with which the keep the upper crust of the U.S. economy afloat, to retain power to the end of his term, and keep himself and Cheney out of jail.

I think it's probably quite likely that this threesome is the main reason the Bush Junta HASN'T attacked Iran, as yet. All hell would break loose as to the U.S. economy. I think China, Russia and India would act very swiftly to isolate us and punish us. They likely don't want WW III, although that, too, is a possibility. More likely, acting in concert, they would simply crash the dollar, and that would be that. No more money to pay our soldiers or launch our missiles, no more money to pad the pockets of war profiteers. And a second Great Depression in the U.S.--one that the rest of the world, in this case, would likely avoid. The first Great Depression had vast worldwide ripples. Not so this time. That is what I think Putin is saying. Other countries are preparing the economic structures and vibrant economies to WITHSTAND a deliberate crash of the U.S. economy to stop our warmongering.

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truthisfreedom Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 10:54 AM
Response to Original message
6. I suppose NEWO is a little "hipper" sounding than NWO.
Pootie-Poot seems to have it going on!
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Strelnikov_ Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-10-07 12:46 PM
Response to Original message
8. Just like Vlad spelled out in his college dissertation. . . .
the New World (Oil) order is upon us.

I know it is uncomfortable for some of you, but the War on Terror, Iraq, Iran, the new cold war with Russia, and on and on . . . is maneuvering for the final 'Great Game', the second and last half of the age of oil.

And why can't the leaders just come out and tell the truth about the future of oil and natural gas? Because they know most of the addicts, unlike Tareyton smokers, would rather switch than fight.

Our oligarchy is maintaining the status quo for the incredible amounts of money (and power) to be made from the initial decades of post-peak petroleum and natural gas production. Vlad and his team have an interest in maintaining the addiction in that the oil/gas money is their ticket back to superpower status. And China? They are already playing off Vlad's script as evidenced by their dogged pursuit of long term supply contracts.

http://www.financialsense.com/series3/part2.html

. . .

In 1997, an unknown former KGB agent defended a dissertation on natural resource policy at the St. Petersburg Mining Institute. In 1999 the dissertation was defended once again and published in the Institute’s journal. The candidate—unknown to the world at that time—would later be appointed as Prime Minister and later elected President of Russia. His name was Vladimir Putin and his thesis on energy would evolve and become the central tenet of Russian domestic and foreign policy. Putin outlined three themes in his thesis, which help explain the evolution of Russian energy policies.

The first theme dealt with the ways in which natural resources can contribute to the wellbeing of the national economy. In his thesis, Putin identified Russia’s mineral resources, especially its hydrocarbons, as key components in his equation. In order to accomplish this objective, the state must gain control over the resource sector and regulate its development in favor of the state. This objective could best be facilitated by the creation of large state-sponsored firms capable of competing with Western oil companies.

The second and third themes identified in his dissertation dealt with strategic planning and the development of port facilities and infrastructure to facilitate resource exports. Developing and exploiting the resource sector would empower the economy and the state and put Russia back on the road to political power and influence in the world.

. . .

In addition to tightening the state’s grip over the resource sector, Putin has also moved on the international front to change the world’s oil order. At present “paper oil” (futures trading) controls the pricing for physical oil through trading on New York and London exchanges. The West may not own the oil, but it controls the pricing of oil through derivatives. One of the anomalies of today’s resource markets is that those who own the assets—whether mineral assets or hydrocarbons—don’t control the price. It is this anomaly that Putin hopes to reverse through a confederation of large producing and consuming states.

. . .

This arrangement has been predominant since the early 1980s. OPEC and Russia control 85% of the world’s known oil reserves, but it is the West through its futures exchange, which controls the price.

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Heidi Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-13-07 03:12 AM
Response to Original message
9. Kick.
:kick:
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CHIMO Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-13-07 03:12 AM
Response to Original message
10. Putin Seeks New Economic Order
Source: Moscow Time

ST. PETERSBURG -- President Vladimir Putin has called for the creation of a new global economic order that would diminish the importance of the WTO and the IMF -- and at the same time asked eight U.S. business leaders to help get Russia into the WTO.

Putin criticized the World Trade Organization and similar institutions as "archaic, nondemocratic and unwieldy" during a speech Sunday at the St. Petersburg International Economic Forum. The president, speaking in the presence of WTO head Pascal Lamy and EU Trade Commissioner Peter Mandelson, said the organizations should be overhauled to take into account the might of emerging economies like Russia, India and China.

"It's obvious that a world financial system tied to one or two currencies and a limited number of financial centers no longer reflects the current strategic needs of the global economy," Putin said.

Russia, he said, could emerge as a new financial center and the ruble should become an alternative to the dollar and euro.



Read more: http://www.themoscowtimes.com/stories/2007/06/13/002.html
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Taverner Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-13-07 03:12 AM
Response to Reply #10
11. Mark this down
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