Obama and Financial Institutions Scheming to Violate International Banking Regs

(Before It's News)

By: Voice of Reason

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What do you get when you mix the latest version of the already passed Trans-Pacific Partnership, with a President who Signs an Executive Order Permanently Implementing Martial Law, and “Net Neutrality” Regulations Designed to Stifle Free Speech? You get a narcissistic, power-obsessed, lying sociopath with the power of the military industrial complex to silence political dissent, and do whatever the hell he pleases at We the Peoples’ expense. 

The video below goes into why we are so screwed that the American people decided to fall asleep at the wheel over the Trans-Pacific Partnership Bill. Maybe it’s “Obama Scandal Fatigue” or something, and people just can’t take any more, but that is NOT an excuse. Obama will steamroll right over us if we don’t’ wake up NOW! Somehow, that bill got rammed through a GOP controlled Congress, and there was hardly a peep from anyone making a fuss about it, excluding folks like your not so humble bloviator at The Last Great Stand, and a few others like me. 

It’s amazing how clueless most people are about this. Some clown emailed me the other day about how we have nothing to worry about because the ”Trans-Pacific Partnership (TPP)” did not pass, and I should know that it was the TPA that did. 

IS THAT RIGHT? THANKS FOR CLEARING THAT UP!

He must have learned that from one of the talking heads on SportsCenter, or from Chris Matthews, because both have about the same degree of “FACTUAL” political analysis in their commentary. The truth of the matter is Americans were asleep at the wheel for the TPP, so if they tuned THAT out, how receptive would they be to hearing there is really a Trans Pacific Partnership (TPP), a TransAtlantic Trade and Investment Pact (TTIP), and a Trade in Services Agreement (TiSA), all of which were crafted in closed smoky back rooms located all over the globe? Yeah, that’s what I thought. So, when I refer to the TPP, I am referring to all of it in an attempt to dumb it down a bit, partially for my own sake I might add. The more I learn about the TPP, the more I’m afraid blood might start shooting out of my eyes one of these days. 

You’ll see in the video below as well as in the article below from InvestmentWatchBlog, that according to the agreement’s provisional text, the document is supposed to remain confidential and concealed from public view for at least FIVE YEARS after being signed! AND, Obama has unilateral power to do with it as he pleases, with no Congressional oversight. Now, thanks to WikiLeaks, some of the bill has seeped to the surface. Watch the video below, then SPREAD this post. If people don’t know what is going on… how can we work to stop it?

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At InvestmentBlogWatch, Don Quijones, Spain & Mexico, editor at WOLF STREET writes:

It’s almost impossible to keep anything secret these days – not even the core text of a hyper-secret trade deal, the Trade in Services Agreement (TiSA), which has spent the last two years taking shape behind the hermetically sealed doors of highly secure locations around the world.

According to the agreement’s provisional text, the document is supposed to remain confidential and concealed from public view for at least five years after being signed! But now, thanks to WikiLeaks, it has seeped to the surface.

The Really, Really Good Friends of Services

TiSA is arguably the most important – yet least well-known – of the new generation of global trade agreements. According to WikiLeaks, it “is the largest component of the United States’ strategic ‘trade’ treaty triumvirate,” which also includes the Trans Pacific Partnership (TPP) and the TransAtlantic Trade and Investment Pact (TTIP).

“Together, the three treaties form not only a new legal order shaped for transnational corporations, but a new economic ‘grand enclosure,’ which excludes China and all other BRICS countries” declared WikiLeaks publisher Julian Assange in a press statement. If allowed to take universal effect, this new enclosure system will impose on all our governments a rigid framework of international corporate law designed to exclusively protect the interests of corporations, relieving them of financial risk, and social and environmental responsibility.

Thanks to an innocuous-sounding provision called the Investor-State Dispute Settlement, every investment they make will effectively be backstopped by our governments (and by extension, you and me); it will be too-big-to-fail writ on an unimaginable scale.

Yet it is a system that is almost universally supported by our political leaders. In the case of TiSA, it involves more countries than TTIP and TPP combined: The United States and all 28 members of the European Union, Australia, Canada, Chile, Colombia, Costa Rica, Hong Kong, Iceland, Israel, Japan, Liechtenstein, Mexico, New Zealand, Norway, Pakistan, Panama, Paraguay, Peru, South Korea, Switzerland, Taiwan and Turkey.

Together, these 52 nations form the charmingly named “Really Good Friends of Services” group, which represents almost 70% of all trade in services worldwide.

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As WOLF STREET previously reported, one explicit goal of the TiSA negotiations is to overcome the exceptions in GATS that protect certain non-tariff trade barriers such as data protection. For example, the draft Financial Services Annex of TiSA, published by Wikileaks in June 2014, would allow financial institutions, such as banks, to transfer data freely, including personal data, from one country to another – in direct contravention of EU data protection laws.

But that is just the tip of the iceberg. According to the treaty’s Annex on Financial Services, we now know that TiSA would effectively strip signatory governments of all remaining ability to regulate the financial industry in the interest of depositors, small-time investors, or the public at large.

1. TiSA will restrict the ability of governments to limit systemic financial risks. TiSA’s sweeping market access rules conflict with commonsense financial regulations that apply equally to foreign and domestic firms. One of those rules means that any governments that seeks to place limits on the trading of derivative contracts — the largely unregulated weapons of mass financial destruction that helped trigger the 2007-08 Global Financial Crisis — could be dragged in front of corporate arbitration panels and forced to pay millions or billions in damages.

2. TiSA will force governments to “predict” all regulations that could at some point fall foul of TiSA. The leaked TISA text even prohibits policies that are “formally identical” for domestic and foreign firms if they inadvertently “modif[y] the conditions of competition” in favor of domestic firms:

For example, many governments require all banks to maintain a minimum amount of capital to guard against bank collapse. Even if the same minimum is required of domestic and foreign-owned banks alike, it could be construed as disproportionately impacting foreign-owned banks… This common financial protection could thus be challenged under TISA for “modifying the conditions of competition” in favor of domestic banks, despite governments’ prerogative to ensure the stability of foreign-owned banks operating in their territory.

3. TiSA will indefinitely bar new financial regulations that do not conform to deregulatory rules. Signatory governments will essentially agree not to apply new financial policy measures which in any way contradict the agreement’s emphasis on deregulatory measures.

READ THE REST OF THE ARTICLE AT RIGHT.IS HERE:

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