Friday, April 03, 2009

Secret G20 communiqué says it all

The draft communiqué below from the G20, revealed here exclusively by A World to Win, bears no resemblance to the statement eventually published yesterday evening, which is not surprising:

We the leaders of the G20 group of major bankrupt economies meeting in London pledge our undying commitment to the cause of restoring the ailing global capitalist economic system to health by any means necessary. We will do whatever it takes to rebuild the balance sheets of the banks and to restore people’s confidence in a system that has come off the rails and is unfortunately and mistakenly despised by increasing numbers of our citizens.

We acknowledge that the transnational corporations (TNCs) and global financial institutions have, with our encouragement, transformed a capitalist system from one that was fundamentally flawed and riddled with contradictions to one that is even more fundamentally flawed and riddled with contradictions and is in meltdown.

The G20 under the inspiring leadership of Gordon Brown accepts that corporate-driven globalisation has created a grossly unequal world between and within nations; that prime minister Brown never said in June 2007 that the City had created a new “golden age”; that TNCs and the World Trade Organisation call the shots; that as a result the democratic process is now meaningless; that we can and will do nothing about this.

And let no one suggest that we are indifferent to the irreversible damage that corporate globalisation has caused in terms of climate change, manifested by extreme weather patterns. The G20 knows that relentless, profit-driven growth is the main contributor to global warming that now threatens humanity.

However, as someone once said, business is the only real business of the planet and its inhabitants. So let’s get down to business. Tackling climate change must not sidetrack us.

Taking all the above into account, while putting much of it to one side, we therefore pledge to:

* take measures to restore growth through persuading people once more to buy goods they don’t necessarily need or want with money they don’t actually have
* hand over another $1.1 trillion (made possible by fast printing presses) to the financial system through the International Monetary System and World Bank
* prepare for large-scale cuts in public spending to pay for past and future bank bail-outs
* encourage business to take on more welfare functions because our states have run out of money (the UK in particular welcomes yesterday’s statement by Richard Lambert, director-general of the CBI, that “the state should become a commissioning agent indifferent to whether services were delivered by the private sector, public sector or third sector.”
* use the forces of the state to deal harshly with any threat to private property or those who think capitalism is past its sell-by date and want to replace it. We want to record our thanks for the splendid efforts of the Metropolitan Police in protecting our common interests during the summit.

The G20 leaders who have come together to save the world in less than a day, accept that these measures will almost certainly make not a blind bit of difference. Question marks remain, for example, about the level of toxic debt still buried deep within the financial system. (If anyone knows how we can find out more about this, please get in touch with Tim Geithner or Alistair Darling at asap.) We also noted that while we drawing up this communiqué another 3,000 job losses were announced in the UK alone. All of us are in agreement that this is a price well worth paying in terms of our future wealth.

In conclusion, we are confident that the people of our different countries will rally to the cause of getting those profits and bonuses rolling again. Never forget, their prosperity is also yours. If you believe that you will probably believe anything.

G20 draft communiqué ends.

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