America's Next Great Bamboozle... Global Socialism

America is headed for global socialism; get ready. 

Senator Obama's presidency won't be the direct cause, although he, along with the Democrat-controlled Congress, will unwittingly facilitate it. Intent on creating a quick resolution to the global monetary crisis, they'll willingly cede important parts of American sovereignty and financial freedom to a supernumerary alliance of European Union leaders and top echelon multinational financial institutions. One world government is not so subtly headed our way. This time the United Nations isn't the Trojan Horse we need to watch; it's Wall Street.

French President Nicolas Sarkozy, President Bush, and European Commission President Jose Manuel Barroso have recently agreed to hold a series of summits on the current world financial crisis. On November 15th., President Bush will host leaders from 20 of the world's richest nations and biggest emerging economies for a summit focused on the global stock markets and credit meltdown. According to EU Business, Sarkozy, whose country holds the European Union's rotating presidency until the end of this year, said Europe should bring to the meetings "the idea of a rebuilding of world capitalism."- 

It's indeed refreshing to have a French leader who's genuinely interested in helping the U.S. Nonetheless, I don't want the European Union's ruling powers dictating the terms of our "salvation"- from the mess Wall Street created. The transnational financial laws and regulations they already operate under, however common sense and accepted by us under the urgent guise of rebuilding world capitalism, will become a slippery slope. They will result in America's not so gradual submission to global socialism and her tacit control by an unknown offshore elite who better know what's good for us, yet aren't accountable to our citizens. I doubt President-elect Obama has either the experience or willpower to say "no"- to this crowd. He's made some major promises to the American public, he will be looking for some relatively quick fixes and early hits, and the big boys in Europe know it. It's interesting to note that one of Senator Obama's most memorable campaign events occurred in Berlin... not America. 

The Bush Administration, by bailing out crooked Wall Street firms, buying into big banks across the nation, and underwriting our union-controlled Big Three automakers has already set up a rationale for and the expectation of massive government intervention in US markets. The next step, a global financial regulatory scheme, will come quickly and easily. It will be sold to us as a necessary step towards stabilizing markets. Bad enough in and of itself, that will only be the start. Next you'll see regulations "suggested"- by the same EU crowd regarding climate change, energy supplies, food production, healthcare, and telecommunications. Saying no will be tough, because Washington will have already accepted the internationalists' financial aid (with terms) and gulped their groupthink Kool-Aid. America will rapidly become, de facto, a regulatory "colony"- for the EU. Not a pretty picture for a country whose very foundation was based on a revolt against British colonialism.  

You'll also soon see an EU "request"- that America mandate a carbon credit program. Currently voluntary, this will force many of America's industrial companies and smaller businesses to purchase those credits to offset the "pollution"- they're sending into the upper atmosphere, contributing, at least theoretically, to global warming. Seems innocuous enough as a potential solution, doesn't it? However, when American companies are forced to purchase these carbon credits, they will pass on those costs in the form of substantially higher prices for coal-fired electricity and other mainstays of our economy. In reality, it's a concealed international tax racket designed to suck money out of our consumers for the benefit of European bureaucrats and so-called green multinational corporations.  

The same Wall Street players that brought you Collateralized Debt Obligations, Credit Default Swaps, and hundreds of trillions of dollars in derivative inventions are operating this emerging $100 billion market right now. Carbon credits, like financial derivatives, are nothing more than a shared illusion that literally creates something out of nothing. It's vaporware that will generate tens of billions in commissions annually and transfer our wealth to others offshore.

The late Carl Sagan once said "One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We're no longer interested in finding out the truth. The bamboozle has captured us. It is simply too painful to acknowledge -- even to ourselves -- that we've been so credulous. (So the old bamboozles tend to persist as the new bamboozles rise.)"

Global regulations, proffered by European bureaucrats and financial elites as solutions for tough challenges on Main Street, will soon be dictating social and economic terms to Americans. The next bamboozle rises.