The Global Agenda 2009

In addition to global taxes, “The Global Agenda 2009” report urges creation of a global television channel.

Global Taxes and Global TV Now on the Agenda

By Cliff Kincaid, Editor, AIM Report
January 26, 2009

President Obama’s pick for Treasury Secretary, Timothy Geithner, is being urged to lay the foundation for “global governance” by considering “international taxation” measures to loot more money from U.S. taxpayers.

The recommendation is included in the report, “The Global Agenda 2009,” which is being considered by the World Economic Forum (WEF), meeting in Davos, Switzerland, January 28 - February 1. The WEF is not an official government group but does include dozens of government, corporate and labor leaders at its annual meetings.

Media companies such as News Corporation (parent of Fox News, the Fox Business Network, and the Wall Street Journal), CNBC, and Forbes are official sponsors of the WEF meeting. News Corporation is listed as one of about 100 “strategic partners” of the World Economic Forum.

“Look for live coverage on CNBC, all day every day,” reports CNBC “Squawk Box” co-anchor Becky Quick. “We kick things off at 6 a.m. Eastern time Wednesday on Squawk, with serious interviews from the headliners.”

Her report, however, fails to disclose that CNBC is an “industry partner” of the World Economic Forum this week.

CNBC is a subsidiary of General Electric, whose GE Capital is receiving a $139-billion taxpayer-financed loan guarantee as part of the Wall Street bailout. CNBC’s sister networks are NBC and MSNBC.

Other “industry partners” of the WEF include Reuters, the British-based news agency. A Reuters story about the meeting that starts on Wednesday sounds like a press release from the organization, hailing its “achievements” over time but failing to note that Reuters is a sponsor of this year’s event.

CNBC is advertising a “No Way Back – the Road to Recovery” debate hosted at the conference by CNBC’s Maria Bartiromo. One of the participants is Steve Schwarzman, Chairman, CEO and co-founder of the Chinese-funded and partly owned Blackstone Group.

Representing Chinese economic dominance in what Henry Kissinger has labeled a “New World Order,” Chinese Premier Wen Jiabao is speaking to a special session of the conference on its first day.

The event’s corporate sponsors, which pay about half a million dollars each to participate, include several failing institutions that have received tens of billions of dollars from U.S. taxpayers. They include Bank of America, Citi, Goldman Sachs, JPMorgan Chase & Co., and Morgan Stanley. These entities are termed “Strategic Partners” of the World Economic Forum.

But will CNBC highlight this kind of extravagant spending when the cable business network is helping sponsor the event?

In a major embarrassment, the WEF has released a report, “The Future of the Global Financial System,” which acknowledges “intellectual stewardship and guidance” provided by a steering committee co-chaired by John Thain, the former Merrill Lynch & Co. chief executive officer who was recently ousted from Bank of America in a scandal. Thain oversaw the disastrous sale of Merrill Lynch to Bank of America and was criticized for lavish spending on office decorations, including a $1,405 waste basket and $87,784 rug.

The other co-chair of the committee was David Rubenstein, co-founder and managing director of The Carlyle Group, who has been quoted as saying that China holds the key to the world economy’s future. One report notes that Rubenstein says Carlyle “was an early investor in the Chinese marketplace,” that its China office “has hired many native-born Chinese, and the company is seeking to build its buyout and growth-capital businesses there.”

“The Global Agenda 2009” report says that “sovereign states do not adequately address problems reaching across borders” and that “international taxation” may be needed to generate the “additional resources” for “global governance.”

Could this become a source of new bailout money here and abroad?

“As current global governance problems come from market failures, sovereign failures and intergovernmental failures that cross boundaries, sacrificing sovereignty for greater gain may become an option,” the report says.

The report says the U.N.’s Law of the Sea Treaty, which is a top priority for Senate ratification under the Obama Administration, is a measure that has “earned the acceptance and compliance” of most nations. The treaty would turn over oil, gas, and mineral resources to the U.N. and authorize access to them through payment of a global tax to a U.N. body.

The so-called “Council on Global Governance” of the World Economic Forum includes Anne-Marie Slaughter, dean of the Princeton University Woodrow Wilson School of Public and International Affairs who has been picked by Secretary of State Hillary Clinton to run the State Department’s Office of Policy Planning. Slaughter wrote the 2004 book, A New World Order.

In terms of media interest and backing for the controversial event, one of the co-chairs is Rupert Murdoch, chairman of News Corporation, the Fox News Channel parent company. Another co-chair is Kofi Annan, the disgraced former U.N. Secretary-General. As director of U.N. peacekeeping, Annan was accused of ignoring genocide in Rwanda. As Secretary-General, he was investigated for presiding over the oil-for-food corruption scandal involving Saddam Hussein’s Iraq regime.

Annan, however, claimed that he was “exonerated” by a report issued by Paul Volcker, the former U.S. Federal Reserve chairman and now one of Obama’s chief economic advisers.

In the past U.S. officials have been major participants in the World Economic Forum. But it’s not clear if any of Obama’s top officials will be going to this year’s event. However, some of his labor backers, including Andrew Stern of the Service Employees International Union, and John Sweeney, president of the AFL-CIO, are listed as participants.

In addition to global taxes, “The Global Agenda 2009” report urges creation of a global television channel.

“Media has the capacity to connect the world, bridging cultures and peoples, and telling us who we are and what we mean to each other. The media can also ensure that no voice goes unheard,” it says. “We believe that this new moment also calls for a new media platform, across all media channels, a global non-profit ‘CNN’ providing a new form of independent journalism to inform, illuminate and deepen knowledge about issues that improve the state of the world.”

The report doesn’t explain how this new global TV channel will be financed. But global taxes cannot be ruled out.

Perhaps this new era of transparency and disclosure can start with disclosing details about media sponsorship and backing of the World Economic Forum and its plans for “global governance.”

Cliff Kincaid is the Editor of the AIM Report. A veteran journalist and media critic, Cliff concentrated in journalism and communications at the University of Toledo, where he graduated with a Bachelor of Arts degree. He has written or co-authored nine books on media and cultural affairs and foreign policy issues. Cliff has appeared on Hannity & Colmes, The O’Reilly Factor, Crossfire and has been published in the Washington Post, Washington Times, Chronicles, Human Events and Insight. Web Site: www.AIM.org; E-Mail: cliff.kincaid@aim.org

[Read Cliff Kincaid's book Global Bondage; The UN Plan to Rule the World]

Blackstone Group History

In less than a quarter century, Blackstone has become a leading global alternative investment manager and financial advisor and an established global financial brand. Here are a few of the milestones in Blackstones history.

2010

Blackstone is the main financial sponsor for Transmission Developers Inc. (TDI). TDI plans to develop an innovative power transmission line that will bring safe, secure, affordable and renewable power to New York and New England from the U.S. Canadian border.

Dr. Axel Herberg joins Blackstone as a Senior Managing Director to the firm’s private equity business in Germany, Switzerland and Austria.

GSO/ Blackstone acquired the Collateral Management Agreements for nine CDO and CLO funds from Callidus

2009

Blackstone receives a Single 'A' rating from Standard and Poor's and an ‘A+’ rating from Fitch Ratings.

Blackstone sells senior notes of Blackstone Holdings Finance Co. LLC.

Fundraising for Blackstone Real Estate Partners Europe III (BREP III) closes with € 3.1 billion raised, expanding the firm’s real estate platform in Europe.

Blackstone signs an agreement with the Government of Pudong, China, to establish the firm’s first Renminbi (RMB)-denominated Blackstone Zhonghua Development Investment Fund.

As part of a group of investors, Blackstone acquires BankUnited out of receivership from the Federal Deposit Insurance Corporation, with approximately $8 billion in deposits in over 85 branches in the United States.

2008

GSO Capital Partners is acquired, firmly positioning Blackstone as one of the largest credit-oriented alternative asset managers.

Further strengthening its presence in China, Blackstone opens a representative office in Beijing.

The Blackstone Charitable Foundation is established, funded by the firm’s senior managing directors.

2007

Blackstone completes its IPO, listing on the NYSE. The total offering is $7.6 billion, including a $3 billion investment by the China Investment Company (CIC). At the time, it is the largest IPO of a U.S. based issuer since 2002.

An office is established in Tokyo, strengthening Blackstone’s presence in the Asian markets.

2005

The Park Hill Group, a fund placement business, is established. It has since served as a placement agent for corporate private equity, real estate, venture capital and hedge funds that have raised in excess of $108 billion to date.

Blackstone opens an office Mumbai.

2004

The firm’s expansion continues internationally and domestically, with the opening of offices in Paris, France and Atlanta, Georgia.

Blackstone announces a strategic partnership with Patria-Banco de Negocios to develop corporate financing solutions for the Brazilian market.

2002

The Blackstone Real Estate Partners (BREP) International Fund receives €800 million in commitments, expanding Blackstone’s resources for global real estate investments.

2001

Increasing its proximity to the European hedge fund community, BAAM establishes a presence in Blackstone’s London office.

2000

Blackstone opens its London office, establishing a physical presence after several years of investment activity in the U.K. and Europe.

1999

The Corporate Debt group is formed and commits $1.1 billion to its first mezzanine fund.

1992

Blackstone’s Real Estate group is established; since inception, its 10 real estate funds have raised a total of $29 billion.

1991

The Financial Advisory practice is formed; it has since handled restructuring assignments involving $1 trillion in liabilities.

1990

Blackstone Alternative Asset Management (BAAM) is founded, and evolves into a leading manager of hedge fund solutions, other institutional investment vehicles and publicly-traded closed end mutual funds.

1987

The firm launches Blackstone Capital Partners I, its first private equity fund. To date, the combined Blackstone private equity funds have raised $44.4 billion.

1985

Blackstone is founded by Stephen A. Schwarzman and Peter G. Peterson. They began with a balance sheet of $400,000 and a clear vision of an independent, conflict-free, client-focused firm whose interests would be closely aligned with those of its clients and investors.

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The Financial New World Order: Towards a Global Currency & World Government (Excerpt Below)
In March of 2008, following the collapse of Bear Stearns, Reuters reported on a document released by research firm CreditSights, which said that, “Financial firms face a ‘new world order’,” and that, “More industry consolidation and acquisitions may follow after JPMorgan Chase & Co.” Further, “In the event of future consolidation, potential acquirers identified by CreditSights include JPMorganChase, Wells Fargo, US Bancorp, Goldman Sachs and Bank of America.”

In June of 2008, before he was Treasury Secretary in the Obama administration, Timothy Geithner, as head of the New York Federal Reserve, wrote an article for the Financial Times following his attendance at the 2008 Bilderberg conference, in which he wrote that, “Banks and investment banks whose health is crucial to the global financial system should operate under a unified regulatory framework,” and he said that, “the US Federal Reserve should play a "central role" in the new regulatory framework, working closely with supervisors in the US and around the world.”

In November of 2008, The National, a prominent United Arab Emirate newspaper, reported on Baron David de Rothschild accompanying Prime Minister Gordon Brown on a visit to the Middle East, although not as a “part of the official party” accompanying Brown. Following an interview with the Baron, it was reported that, “Rothschild shares most people’s view that there is a new world order. In his opinion, banks will deleverage and there will be a new form of global governance.”

In February of 2009, the Times Online reported that a “New world order in banking [is] necessary,” and that, “It is increasingly evident that the world needs a new banking system and that it should not bear much resemblance to the one that has failed so spectacularly.” But of course, the ones that are shaping this new banking system are the champions of the previous banking system. The solutions that will follow are simply the extensions of the current system, only sped up through the necessity posed by the current crisis.