Established in 1999, G20 finance ministers, central bank governors, and, at times, heads of state meet semi-annually to "discuss key issues in the global economy," the initial 1999 meeting in Berlin, hosted by German and Canadian finance ministers.
G20.org calls its itself "the premier forum for our international economic development that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability," saying it "support(s) growth and development across the globe," or does it?
The reality suggests otherwise about a political power elite gathering to review past achievements, challenges, and prospects for greater exploitation of world markets, resources, and people everywhere. In other words, to support power and privilege over beneficial social change, a consideration not addressed, discussed, or thought about, except with regard to instituting policies leading to the disintegration and elimination of social democracies, replacing them with the worst elements of developing world harshness, tolerating no opposition.
What economist Michael Hudson suggested in his recent article titled, "Europe's Fiscal Dystopia: The 'New Austerity' Road to Financial Serfdom," saying:
"Europe is committing fiscal suicide - and will have little trouble finding allies at this weekend's G-20 meetings," attendees "calling for cutbacks in public spending" when economic recovery requires stimulus, job creation, and public investment, not global wars, banker bailouts, or other counterproductive measures.
Hudson called the meeting "a carefully orchestrated financial war against the 'real' economy," initiated in America, Obama having "stacked his White House Deficit Commission....with the same brand of neoliberal ideologues who comprised the notorious 1982 Greenspan Commission on Social Security 'reform,' " a topic this writer addressed earlier in a "maestro of misery" article about a man who wrecked the lives of millions for the rich, now cashing in big late in life, claiming no responsibility for decades of harm, a legacy others won't let him forget.
Now it's going global, why Hudson sees Europe "dying....succumb(ing) to a financial coup d'etat rolling back the past three centuries of Enlightenment social philosophy." In lock step, America is erasing its New Deal and Great Society gains, planning mass impoverishment, human misery, and fascist harshness, the hidden G20 agenda not reported in the mainstream, sticking to its party line propaganda, the usual rubbish top officials preach to conceal their real plans from hell.
The G20 - An Explanation
Comprising 85% of global GDP, 80% of world trade, and two-thirds of its population, participating countries include America, Canada, Germany, France, Britain, Italy, Spain (a permanent guest), China, Japan, India, South Korea, Indonesia, Russia, Brazil, Argentina, Mexico, Turkey, Australia, South Africa, and Saudi Arabia as well as EU Council and Commission Presidents.
Other attendees include:
-- the IMF's managing director and chairman;
-- the World Bank's president;
-- the international Monetary and Financial Committee (IMFC); and
-- chairman of the IMF/World Bank Development Committee.
Even though they rank higher economically than some members, excluded are Switzerland, Norway, Taiwan, Iran and Venezuela. Included only as part of the EU are Spain, Netherlands, Poland, Belgium, Sweden, Austria, Greece and Denmark.
The G20 superseded the G33 that replaced the G22. The year 1975 inaugurated the G6 comprised of America, France, Germany, Britain, Italy and Japan. Adding Canada in 1976 made it the G7, then G8 by including Russia in 1997, the EU also included, but it doesn't host or chair.
On June 26 and 27, 2010, G20 officials met inside the Metro Toronto Convention Centre, Toronto, Canada. Thousands of protestors filled city streets outside, Reuters reporting over 600 arrested, many in a so-called "free speech zone," police spokeswoman Michelle Murphy calling it "quite a messy protest" on Saturday, continuing on Sunday, accusing "masked anarchists" of smashing store and bank windows, then torching two or more police cars.
Prime Minister Stephen Harper said "Free speech is a principle of our democracy, but thugs (provocateurs he dispatched) that prompted violence earlier today represent in no way, shape or form the Canadian way of life," he and his government have been systematically destroying in league with Washington.
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