EDITOR CATCHES STEINBRUCK OFF GUARD AT G-7 PRESS CONFERENCE
Saturday 11 October 2008 04:00
STEINBRUCK, TAKEN ABACK, ACKNOWLEDGES THAT THE WHITE HOUSE IS RESPONSIBLE
GRUDGING PUBLIC ADMISSION OF U.S. CORRUPTION EXTRACTED FROM G-7 MINISTER
SPECIAL MEETING OF ANGRY G-7 MEMBERS TO CONVENE IN PARIS ON SUNDAY
THIS REPORT HAS BEEN EXPANDED [SATURDAY AFTERNOON, 11TH OCTOBER 2008]
IT HAS BEEN FURTHER EXPANDED [AT 1.45PM AND 4.30PM DC TIME SUNDAY 12TH OCTOBER]
UPDATE, 14th October 2008:
SPECTACULAR THEATRICAL DISPLAY TO HIDE SUPPOSED ACTION BEHIND THE CURTAIN?
Evidence is accumulating that the snakes are STILL dancing. Settlements undertakings that should have been met yesterday were, as usual, not fulfilled, according to three separate sources.
Our interim assessment is that the theatrical display on stage was transformed into a Spectacular event like the Christmas Spectacular at New York's Radio City Music Hall, with the Sarkozettes and other well-known Dark Actors Playing Games on stage, and that no assurances fed to Trustees or anyone else at this juncture can be relied upon. The object of this exercise appears to have been to swamp the market so that what was to take place behind the curtain could be 'overlooked'. This may still turn out to be incorrect, but that's what we instinctively perceive 'as we speak'.
President Bush II is to meet Sarkozy and Barroso on Saturday.
Washington, 11th-12th October 2008:
IT'S NOT WYSIWYG (WHAT YOU SEE IS WHAT YOU GET): IT'S TWO DIMENSIONAL
There are two dimensions to the prevailing 'response' to the international financial crisis, which is really the global fraudulent finance crisis: (1) What is being promulgated for public consumption out of Washington, London, Paris and Berlin; and: (2) What is happening/will be happening behind the curtain which divides the perception fed to the world's press and thence to the general public, from the actual objective reality and solution.
Since the Editor is concerned with (2) and has been the sole outlet for authoritative information on the 'wholesale' Settlements programme, and since this matter is 'in process', it is not considered appropriate for us to elaborate on this further at this stage, except that we CAN NOW CONFIRM that matters are proceeding very satisfactorily.
The resolution of (2) is THE REAL ACTION, and so (1) is for global public consumption. HOWEVER, this theatre would be ridiculed even by the 'mainstream' media', if it did not contain SUBSTANCE. So, the theatrical display is packed with brand new 'goodies', with the President of France, Nicolas Sarkozy, having just desported himself today at a glossy Paris Press Conference as a 'responsible leader', maximising the potential for the familiar EU knee-jerk official refrain that 'this crisis has brought Europe closer together' (the reverse is the case), and generally emphasising how 'clean' and 'responsible' the European Union Collective is showing itself to be, when in reality:
• Paribas was up to its neck in involvement with dubious financial operations connected with the Bush Crime Family, as everyone with even superficial knowledge of these matters knows.
• Deutsche Bank is stuffed to the gills with toxic paper, having dominated this 'trading activity' for decades, and having acted as a counterparty to dubious financial transactions since the year dot. It will be recalled that very soon after we started to expose this corruption in 2006, two warehouses, one in London and another in Ottawa, suddenly caught fire and were destroyed, one after the other (July 2006). The London warehouse contained vast stocks of documents lodged by Deutsche Bank.
Of course, the Bank of England has been doing this stuff, as well, as we publicised extensively in 2007. But the fact is that the British authorities, not M. Sarkozy and the Germans, are in the driving seat, in two respects that can be reported here:
• First, the Plan announced by Sarkozy, Barroso and Trichet at their elaborate Press Conference in Paris this evening is the 'Brown Plan': and hats off to the French President for acknowledging this fact at his Press Conference, although he could not then resist alluding to the fanciful divergence between the 'Anglo-Saxon Financial Model' and the 'European Financial Model', all of which is pure nonsense because this is AN INTERNATIONAL FINANCIAL CORRUPTION CRISIS, nothing else.
And, of all people, as a key player, Sarkozy KNOWS THAT THIS IS INDEED THE CASE.
• Secondly: Certain British 'special' authorities (not 'straight' MI6, which tried to STOP the Editor pursuing this dangerous exposure research back in 2004, as we will divulge presently) are driving the Settlements distribution operation, which, with the associated Refunding Plan, provides the REAL SOLUTION to the crisis. For which, of course, the actors on the PUBLIC stage will take ALL the credit, without ever explaining to the world how the turnround was REALLY achieved.
The British Prime Minister, Gordon Brown, appeared in Paris on Saturday and consulted with Sarkozy et al, but, not being a Head of State, did not participate (also, as Britain is not inside the Eurozone) in the Paris Press Conference, at which the EU-15 (Eurozone) Plan, a.k.a. 'The Brown Plan', was announced. This contained three features, of which the following two are important:
(1) EU-15 Governments will provide guarantees with respect to interbank lending until December 2009, the purpose being to negate the distrust between banks which is among the most dangerous of consequences of the crisis, given that the banks know which other banks were/are involved in the fraudulent finance operations, and vice versa.
(2) Individual 'Member State' Governments' authorities will be 'allowed' to recapitalise their banks, and will be 'given' a free hand in this regard. Nicolas Sarkozy waxed eloquent at length about how the agreement that he says has been reached between the Eurozone 15 (and also more generally between all 27 EU 'Member States') has 'brought all Europe more closely together, blah blah blah', whereas of course this provision actually drives a coach and horses right through the elaborate EU financial and economic coordination arrangements and incestuous red-tape provisions inter alia of the Maastricht Treaty. From the perspective of the EU Collective's mantra of 'ever closer union', this development is a RETROGRADE step, which naturally affords the Editor of this service truly immense satisfaction, given that the EU in general and the European Commission in particular, is a corrupt, self-serving, collectivising, elitist, anti-nation state duplicate bureaucratic supranational government and unaccountable dictatorship which despises democracy and thinks it appropriate to restrict Members of the European Parliament, for instance, to speeches lasting for no more than ONE MINUTE (which, as a wordsmith, the Editor can confirm represents 90 words, precisely). If an MEP goes beyond his allocated minute, they cut the microphones off, as in the Supreme Soviet.
Having disgorged all his rhetoric, Sarkozy added a call for 'a global conference' to address issues arising from this crisis. The Editor is sitting right now in the Press Room of a global conference, at the epicentre of geofinancial expertise, given that the International Monetary Fund, whatever its underlying geopolitical purpose, is universally recognised to be technically proficient in respect of all financial issues. So quite clearly the European 'call' for a global conference is orchestrated, and involves leveraging the crisis (arising from rampant financial fraud, and triggered by our long-term exposures thereof) in order to maximise the potential for elevating the global hegemony agenda to a new level (a 'great leap forward'). Sarkozy has been revealed to us as an important tool whose job it is to achieve precisely such an 'advance' in the global hegemony agenda.
THE INTENSIFIED COINTELPRO DISINFORMATION AND PROPAGANDA OFFENSIVE
Finally, we add a few observations about current COINTELPRO operations which continue to be ratcheted up in order to cover the tracks of those most closely involved in the financial fraud, and to obfuscate the resolution of this crisis so that those targeted remain confused with a surfeit of false or dubious information, and therefore none the wiser.
It will be recalled that the Lord's careful Words 'if the blind lead the blind, BOTH shall fall into the ditch' were preceded by the crucial words: 'Leave them alone'. By this token, it is not this, or any, Editor's job to disabuse those who may choose to be misled, from the delusions fed to them by sources with apparently malicious intent.
However what little can be usefully said at this juncture is that statements to the effect that the British Government and Monarchy have designs upon the United States, represent the worst form of DVD-related 'Black' trash propaganda, and anyone believing such insane rubbish needs to go to the Emergency Department of their nearest hospital without further delay.
The absolute reverse is the case. The United States has got itself into this mess because it has not yet found a way to preclude organised crime from annexing the highest offices of the Republic, and because it has not yet disciplined and curbed the extensively criminalised 'State within the State', namely the corrupt Intelligence Power. The Rest of the World has to 'live with' the United States, and since, because of the above failings, the United States is/was bankrupt and in the hands of its creditors, the Rest of the World, led in practice by the British (part of the 'Main Enemy', remember) are engaged in assisting the American people out of this mess, which has caused huge problems internationally. (Sarkozy's task is to perform at the front, not the rear, of the stage).
This HAD to happen, and the Editor is proud to have been called to contribute very materially to this outcome. See above reference to matters proceeding VERY SATISFACTORILY.
GOVERNOR OF BANQUE DE FRANCE MOST UNHAPPY AT EDITOR'S GSE JIBE [SUNDAY]:
This morning, the Editor approached the Governor of the Banque de France at the end of a seminar discussion, and pointed out that there was never any excuse for the 'mortgage scandal' dimension of the crisis for the following reason (reiterated in successive issues of International Currency Review and on this website):
Since at least 2002, the Tables displayed in the Government-Sponsored Enterprises (GSE) section of the Office of Management and Budget's annual budget documentation have been BLANK.
This indicated that officials within the OMB could not/would not risk inserting fake GSE numbers
because they would have left themselves open to prosecution for disseminating false information. Since the Tables were left BLANK for years, anyone in the financial sector doing his or her due diligence should have interpreted these conspicuous data omissions as a RED FLAG, and should have quit operating ANY financial program involving Fannie Mae, Freddie Mac and Farmer Mac. But the Governor and his panel had a nice 'line' in answer to such unwanted barbed criticism.
The 'line' is this:
• 'The party was such fun and everyone joined in the dancing while the music kept playing', as though this is a proper excuse for OPERATING CRIMINAL FINANCIAL FRAUD SCHEMES.
As soon as he heard what the Editor had to say, the Governor tried to escape from the Editor's presence and said cynically: 'Now we know'. This nasty response, like so many other indications, reveals that these people are ALL ON THE DEFENSIVE. Their Number One Enemy is Yours Truly.
IMF MANAGING DIRECTOR 'TAKEN BY SURPRISE' AT THE SEVERITY OF THE CRISIS
Dominique Strauss-Kahn, the former French Finance Minister who is now the Managing Director of the International Monetary Fund (IMF), said in his statement before the Bank-Fund Development Committee on 10th October that quote 'the historic events of the past few weeks could hardly have been imagined as the subprime crisis began to unfold a little over a year ago'.
Manifestly, this website and International Currency Review are not his favourite reading. If he had paid attention to what we were predicting from 2nd September 2006 onwards, and to what we also clearly predicted in July 2007 with our warnings about the imminent 'train wreck', he would surely not have made such a rash observation [see Archive and International Currency Review].
It is however 'standard practice' for senior officials who failed to anticipate current events to claim that 'no-one had predicted this'. We recall the former British Chancellor of the Exchequer, Mr Nigel Lawson, claiming in the House of Commons that 'no-one predicted' the British balance-of-payments deficit in a certain year, when International Currency Review had forecast the outcome precisely. This habit is an ungenerous trait and M. Strauss-Kahn, respected for his clarity of vision and his ability to express himself in writing very effectively, should perhaps send us an apology!
EDITOR SPRINGS AMBUSH DURING ALL-GERMAN LANGUAGE G-7 PRESS MONOLOGUE
Yesterday evening, the Editor attended a Press Conference here in the Press Room complex at the headquarters of the International Monetary Fund. The conference (or rather, the monologue) was conducted almost exclusively by Herr Steinbruck, the German Finance Minister, in the German language throughout, except when he had to answer the Editor's questions.
On this occasion, the Editor refused to hand the microphone back after asking his first question, and persisted until the ambush was complete, and Herr Steinbruck had spilled the beans. Normally the microphone is removed from the questioner almost immediately on these occasions.
If possible, the precise verbatim exchange will be publicised as soon as the relevant transcript has been made available in the Press Room. What follows here is a paraphrase of the ambush:
Editor: 'Herr Steinbruck, you have representatives of the world's press in front of you. Would you kindly talk about the real issue? They need to know about it. I refer to the very large sums of money that were transferred to US banks late last year and subsequently, to pay the Settlements, which you of course know all about and which will resolve the crisis'
'Did you discuss this central issue at the G-7 Meeting that has just concluded?'
Steinbruck (looking annoyed, even agitated: paraphrase throughout): 'I have no information about such Settlements or any such matters. We did not discuss this matter at that meeting, no'.
Editor: 'Did you discuss this at earlier G-7 meetings?'
Steinbruck (going round the houses, more extensively than paraphrased here): 'We discuss many issues at these meetings and the question of certain transfers and related issues' (obfuscation and diversion here) 'has been discussed at earlier meetings of the Group of Seven, yes'.
Editor: 'Mr Steinbruck: These funds have been illegally blocked for many months. We are talking about massive criminal corruption. Would you care to inform the world's press about this, please?'
Steinbruck: 'There are certain instances of which I am aware in Germany and these cases are in the hands of prosecutors and the relevant authorities. These are matters for the German authorities. I am neither able nor competent to discuss or allude to cases of corruption which are a matter for other Governments and jurisdictions. The issues you refer to are a matter for the Government of the United States and you should address your questions to the United States Government'.
Editor: 'Mr Steinbruck: You have just acknowledged that the Settlements money has been blocked illegally by criminal action. Thank you very much'.
As the Editor handed back the microphone, a person sitting behind him lent over and whispered in his ear: 'You are very brave'. This was a compliment, but, generous though it was, it was misplaced.
GERMAN FINANCE MINISTER INADVERTENTLY LETS THE CAT OUT OF THE BAG
Exposure has moved mountains. Exposure of this huge corruption WILL move mountains. And the Settlements WILL be paid. It was crystal clear to all present that Herr Steinbruck knew all about the illegally blocked funds, held hostage by the Bush Crime Family-controlled White House, 'Paulson' and other operatives; and since the Editor would not yield back the microphone until the German Finance Minister had admitted this, WE ARE NOW IN A COMPLETELY NEW SITUATION with regard to exposure of this criminality. With the posting of this report, the cat is well and truly out of the bag.
This exchange between the Editor of International Currency Review and the German Finance Minister took place at approximately 6.40pm in Washington, DC, on 10th October 2008.
Following this revealing exchange, Steinbruck reverted to more German language monologues and carried on answering questions from German-speaking pressmen who appeared not to have understood or paid attention to the exchange, and therefore reverted to the diversionary issues that Steinbruck was content for them to discuss, as though our exchange had never taken place.
G-7 COMMUNIQUE REVEALS THAT ON-THE-BOOKS REFUNDING PROGRAM WILL TAKE PLACE
The Communique issued by the G-7 Finance Ministers and Central Bank Governors after 6.15pm on Friday evening 10th October prior to this Press Conference, is the shortest that the G-7 has issued in the 31 years that the Editor of this service has covered these meetings.
This means that there was a blazing row (there IS a blazing row) and that a decision was taken to publish as little information for public consumption as possible. However the G-7 Communique contains confirmation that The Refunding Program (which the Editor originally called The Wanta Plan, but which must now be referred to as The Refunding Program), will proceed.
Since Herr Steinbruck is a G-7 Minister, he knows perfectly well, therefore, that the refunding operation (see below) which presupposes the Settlements payout, IS scheduled to occur.
Hence his denial that this overall matter was discussed at the G-7 Meeting that took place last evening, CANNOT POSSIBLY BE TRUE. The press has been misled. However this was no problem for Herr Steinbruck because the German-speaking pressmen who hogged the Press Conference clearly had no idea what the Editor was talking about, and didn't follow up the Editor's questions. Another gross failure of the Fourth Estate here. But who NEEDS the Fourth Estate, any more?
THE REFUNDING PROGRAM THAT IS THE EXCLUSIVE ANSWER TO THE CRISIS WE PREDICTED
The Refunding Program involves special Capital Markets Instrument operations to be conducted transparently ON-THE-BOOKS with a group of financial institutions, centralised but in the private sector, with all proceeds fully taxed, yielding massive ongoing accruals to the US Treasury.
The United States is bankrupt and is essentially in the hands of its creditors. The Refunding Program, which should have been kick-started in June 2006, will address and rectify this state of affairs, providing both immediate and long-term relief to the American people and the whole world.
This Program was hijacked in collusion with President George W. Bush Jr. and his father, George H. W. Bush Sr., in June 2006, by the Secretary of the United States Treasury, Henry M. Paulson Jr., who procured the placement with Goldman Sachs of the $4.5 trillion of funds remitted during May 2006 from China that were constantly referenced in our 'Wantagate' reports (terminated on 18th March 2008). Since Paulson had been CEO of Goldman Sachs until his sudden appointment as US Treasury Secretary in place of John Snow, this corrupt act has represented the most extreme instance of an official, criminal conflict of interest in financial history, as we pointed out at the time.
After we had kicked up a huge stink about this, Paulson had the funds abruptly removed to another institution, not least since Goldman Sachs was being accused of criminal conduct by this service.
Paulson and friends then proceeded to exploit, leverage, hypothecate, multiply and finally steal
these funds, which were intended by the remitter for The Refunding Program.
HOLDERS OF HIGHEST U.S. OFFICES ARE SPECIFICALLY RESPONSIBLE FOR THIS CRISIS
Hence, as we persisted in pointing out, the holders of the highest offices in the George W. Bush Jr. Administration were and are specifically and EXCLUSIVELY responsible for the catastrophe that has come about, and which we first predicted in our report dated 2nd September 2006, and in analyses published in July and August 2007 anticipating and confirming the financial 'train wreck'.
The reason that we were able to predict this 'train wreck' accurately was that we were following the CORRECT TRAIL, whereas the US and British 'Mainstream' media, having been compromised by multiple nefarious methods, 'bought' the CIA's COINTELPRO 'slide' that the financial crisis was attributable to 'subprime mortgages' (which have always existed). One of the 'Black' methods used to neutralise the press in the United Kingdom included the dissemination by rogue UK intelligence operatives of fantastic lies about the Editor of this service, which were fed to the press. Details of this operation will be revealed on this website at the appropriate time.
THE 'GREENSPAN-BUSH 'NEVER PAY SYNDROME'
Paulson's predecessor had travelled to China with Dr Alan Greenspan to procure the release by Chinese intelligence of the $4.5 trillion that had been held with the People's Bank of China since the arrest of Leo Wanta in Lausanne in July 1992. Outline details of the source of funds may be reviewed by accessing our report containing the text of the Petition for a Writ of Mandamus: this website (Archive: report dated 8th August 2007).
Dr Greenspan is the 'technician' who invented what we have termed the 'Never Pay Syndrome', which Greenspan developed on instructions from George Bush Sr. Under this deception, one phone call is sufficient to block repeated attempts, involving a large number of Trustees and institutions, to effect the payouts. Trustees, who have been obliged to attend at their banks repeatedly, as instructed, in anticipation of intended payouts, have had their lives turned upside down by this unbelievable corruption, for years. The participating banks have likewise been repeatedly 'stood up' by this means, even though many of these institutions are complicit.
Unbelievably, Greenspan is featured as the lead story in the issue of 'Emerging Markets', a paper produced daily for these Annual Meetings, dated 10th October. His portrait appears on the front page, with an article providing attendees with the guru's latest prognostications on the global financial crisis of which he is the primary technical author.
Specifically, Greenspan gives quote 'a surprisingly upbeat assessment of the state of the financial markets', seeing 'an eventual thawing of the world's frozen credit markets'. Greenspan 'praises the actions of Governments in buying up toxic assets and recapitalising banks'. An extended article by this notorious financial criminal is scheduled for publication in the edition of the paper for 11th October not yet seen by the Editor at nearly 3.00 am here in the long since deserted Press Room.
The 'Never-Pay Syndrome' was first applied during the precedent, indeed, the model, for this crisis in 1989-92. Then, as today, repeated payout operations were routinely sabotaged while the same duplicitous controllers exploited, duplicated, multiplied and helped themselves directly to funds belonging to others or which had been remitted for a specific purpose. Those who knew anything about this scandal were then systematically liquidated under the Clinton Presidency.
Since William Jefferson Clinton, a CIA operative like his 'wife', 'works for' George Bush Sr., there is now no mystery any longer about why those 420++ people and Bush-Clinton associates who 'knew too much', were systematically liquidated, in a purge recalling Josef Stalin (Djiugashvili-Kochba).
After the $4.5 trillion had finally vanished, The Queen and Prince Al-Waleed of Saudi Arabia were persuaded to 'replace' the stolen/diverted funds with a LOAN worth a total of $6.2 trillion. After all, The Queen had told the G-7 Meeting held in northern Germany in June 2007 that The Refunding Program must be implemented 'for the sake of the whole of humanity'. These funds have been held in a suspense account with Citibank in New York City, pending resolution of this matter, given that the exposures of these scandals on this website have made it very difficult, and probably almost impossible, for corrupt financial manipulations to take place now without being traced.
The lenders of these funds can recall them at any time; and a failure to comply would trigger, for instance, the seizure of American-owned assets found in any US dollar-denominated accounts, for instance, with the Bank of England, to an amount at least equivalent to The Queen's loan funds plus compound interest, plus any amounts representing the duplication of these loan funds, which have not been applied for the purpose for which they were intended by the lenders.
'THE MONEY YOU MAKE BY ILLEGALLY USING MY MONEY IS MY MONEY'
Due to the serial criminality of the holders of highest office in the United States, The Refunding Program has not yet taken place (it has been criminally delayed for 27 months already), so that the exposures of the criminal financial operations that we have have publicised, were left to corrode the system while the criminal operatives continued to help themselves to other people's money and to generate colossal sums from them for self-enrichment and 'Black Ops' purposes.
What is now happening is that the legal principle 'The money you make by illegally using my money is my money' is being forced down the throats of the criminalist operatives behind the scenes. It is not a subject that the German Finance Minister wanted to talk about in public, given for instance that Deutsche Bank holds one of the largest portfolios of toxic traded garbage paper in the world.
Meanwhile Chancellor Angela Merkel, who served as the Secretary of the Agitprop (Agitation and Propaganda) Department of the Young Communists at Marx-Lenin University in East Berlin in her youth, is on the rack, like Finance Minister Steinbruck. Why? It is reported to us that George Bush Sr. has been paying bribes to this woman for the past four years, in exchange for which she guards funds 'owned' by Bush Sr. et al in the largest German financial institution.
THE G-7 COMMUNIQUE BY THE FINANCE MINISTERS AND CENTRAL BANK GOVERNORS
Here is the text of the Communique handed out in the IMF/World Bank Press Room last evening:
Washington: The G-7 agrees today that the current situation calls for urgent and exceptional action. We commit to continue working together to stabilize financial markets and restore the flow of credit, to support economic growth. We agree to:
1. Take decisive action and use all available tools to support systemically important financial institutions and prevent their failure.
2. Take all necessary steps to unfreeze credit and money markets and ensure that banks and other financial institutions have broad access to liquidity and funding.
3. Ensure that our banks and other major financial intermediaries, as needed, can raise capital from public as well as private sources, in sufficient amounts to re-establish confidence and permit them to continue lending to households and businesses.
4. Ensure that our respective national deposit insurance and guarantee programs are robust and consistent so that our retail depositors will continue to have confidence in the safety of their deposits.
5. Take action, where appropriate, to restart the secondary markets for mortgages and other securitized assets. Accurate valuation and transparent disclosure of assets and consistent implementation of high quality accounting standards are necessary.
The actions should be taken in ways that protect taxpayers and avoid potentially damaging effects on other countries. We will use macroeconomic policy tools as necessary and appropriate. We strongly support the IMF's critical role in assisting countries affected by this turmoil.
We will accelerate full implementation of the Financial Stability Forum recommendations and we are committed to the pressing need for reform of the financial system. We will strengthen further our cooperation and work with others to accomplish this plan.
TRANSLATION OF KEY PHRASES IN THE G-7 COMMUNIQUE:
• 'Take action... to restart the secondary markets for mortgages and other securitized assets':
• [we will] 'work with others to accomplish this plan'
= IMPLEMENT THE REFUNDING PROGRAM THAT PAULSON HIJACKED IN JUNE 2006, which in turn presupposes releasing the blocked Settlement funds which are the SOLUTION to the crisis.
• 'The actions should be taken in ways that protect taxpayers':
= CODE FOR THE REFUNDING PROGRAM.
• 'Take decisive action and use all available tools to support systemically important financial institutions and prevent their failure':
= THIS STATEMENT EMBRACES THE REFUNDING PROGRAM.
• 'Take all necessary steps to unfreeze credit and money markets and ensure that banks and other financial institutions have broad access to liquidity and funding':
= 'ALL NECESSARY STEPS', not SOME necessary step: ALL necessary steps includes and further presupposes implementation of THE REFUNDING PROGRAM and thus payout of the Settlements that have been criminally blocked by the holders of the highest offices.
It is NECESSARY to do both, so this opaque language CONFIRMS THAT BOTH WILL PROCEED.
• 'Accurate valuation and transparent disclosure of assets and consistent implementation of high quality accounting standards are necessary':
= 'Mark-to-market' pricing is to replace creative pricing for fraudulent marketing purposes, while disclosure of 'source of funds' and of assets is to become routine again, smothering the notorious fraudulent finance and the secretive, illegal and untaxed 'funny money' offshore operations.
Further, the era of creative accounting and deceiving investors and the general public by CEOs, Finance Directors and their accountants, is hereby decisively terminated.
• 'We will accelerate full implementation of the Financial Stability Forum recommendations':
= INCLUDING ESTABLISHMENT OF COLLEGES OF SUPERVISORS to be attached to each very large institution, charged with the task of checking and monitoring the ongoing operations of the largest financial institutions. In other words, the G-7 is insisting upon CHECKS AND BALANCES.
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