Trail of Treason
In Houston, at the 1990 G8 Summit in July, George Herbert Walker Bush and the leaders of the western world decided to internationalize our financial system; to create the World Trade Organization, and to "reject protectionism in all it's forms" (to make the world safe for all the criminals - and especially the debt slave masters - gangster bankers).
http://www.g8.utoronto.ca/summit/1990houston/declaration.html
G8 Economic Declaration
July 11, 1990 (7-11)
Introduction
Third World Debt
55. Significant progress has been made during the past year under the strengthened debt strategy, which has renewed the resolve in a number of debtor countries to continue economic reforms essential to future growth. In particular, the recent commercial bank agreements with Chile, Costa Rica, Mexico, Morocco, the Philippines, and Venezuela involve significant debt and debt-service reduction. Important financial support for debt and debt-service reduction is being provided by the IMF and the World Bank, as well as by Japan. The Paris Club has agreed, in order to support medium-term IMF-supported reform and financing programs, to provide adequate restructuring agreements, notably through multiyear reschedulings and through lengthening of the repayment period. The combination of debtor reform efforts and commercial bank debt reduction has had a notable impact on confidence in debtor economies, as clearly demonstrated through flows of both new investment and the return of flight capital to Mexico, in particular.
56. These measures represent major innovations in the case-by-case debt strategy and are potentially available to all debtor nations with serious debt-servicing problems which are implementing economic adjustment policies.
57. The adoption by debtor nations of strong economic reform programs with the IMF and World Bank remains at the heart of the debt strategy, and a prerequisite for debt and debt-service reduction within commercial bank financing packages. It is vital that debtor countries adopt measures to mobilize savings and to encourage new investment flows and the repatriation of flight capital to help sustain their recovery. In this connection, the recent U.S. Enterprise for the Americas initiative to support investment reform and the environment in Latin America needs to be given careful consideration by Finance Ministers.
58. For countries implementing courageous reforms, commercial banks should take realistic and constructive approaches in their negotiations to conclude promptly agreements on financial packages including debt reduction, debt-service reduction and new money.
Information passed from researcher to researcher has uncovered a significant connection in the Agenda 21 Trail of Treason. The Paris Club, 1990 Houston Terms were put into U.S. law in the Global Environmental Protection Assistance Act of 1989. It should be noted that while this is just a definition, it shows the connection to the Paris Club Houston terms in American law.
Global Environmental Protection
Assistance Act of 1989 implemented into law in
Title 22, Chapter 32, Subchapter I, Part VII, Section 2281
Sec. 2281. - ''Debt-for-nature exchange'' defined
For purpose of this part, the term ''debt-for-nature exchange'' means the cancellation or redemption of the foreign debt of the government of a country in exchange for -
(1) that government's making available local currencies (including through the issuance of bonds) which are used only for eligible projects involving the conservation or protection of the environment in that country (as described in section 2283 of this title); or
(2) that government's financial resource or policy commitment to take certain specified actions to ensure the restoration, protection, or sustainable use of natural resources within that country; or
(3) a combination of assets and actions under both paragraphs (1) and (2)
The language above corresponds to the Paris Club "Houston Terms" as defined on the Paris Club website. See below for information on the Houston Terms. Recalling the history of international trade agreements,
December 8, 1993
President William J. Clinton signed the North American Free Trade Agreement Implementation Act NAFTA Worker Security Act. It became Public Law 103-182.
The legislation was H.R. 3450, passed by House on November 17, 1993 and by the Senate on November 20, 1993
December 8, 1994
President William J. Clinton signed the Uruguay Round Agreements Act Retirement Protection Act of 1994. (WTO) It became Public Law 103-465
The legislation was H.R. 5110, passed by the House on November 29, 1994 and by the Senate on December 1, 1994.
These trade agreements were negotiated against the interests of American business and the American people as evidenced by the exodus of American businesses from the United States and the statistics compiled by the CIA and published in the World Factbook. The trade agreements made the United States the largest debtor nation in the world.
With consideration for the Paris Club
Houston Terms for Debtor Nations, U.S. Trade Representatives and the
U.S. Senate through their actions have basically sold our nation out
from under us - and that explains why U.S. foreign policy is to solicit
"foreign direct investment" - which if you research below the media
propaganda, you'll find that the American government itself is funding
the "foreign direct investors" through special zoning definitions,
economic development programs, funding through the Small Business
Administration and government contracting with preferences for
minorities (foreigners are minorities) and through the university system
of "innovation" and Angel Investors - supposedly Venture Capitalists who
have a heart. Right.
Consider the domestic chaos caused by programs of the federal government - the subprime mortgages, the infrastructure construction mandates generating debt for local governments, the blind eye towards the import of foreign workers to take American jobs, the state programs for solicitation of foreign direct investment especially in our critical infrastructure that is essentially an economic and literal noose around our necks, and the heretofore inexplicable loans to subprime companies like Solydrna and the sale of American natural resources to Communist China - all of it makes sense with an understanding of the Paris Club Houston Terms and the fraudulent, treasonous international trade agreements.
* * * * *
Corresponding to the G8 decisions, the Paris Club implemented new policies dubbed 'Houston Terms'. The Paris Club appears to be the accountants for the international gangster bankers. They make offers that can't be refused. The Houston Terms when considered with the G8 Summit decisions for an international trading system with fraudulent "free trade" agreements written against the interests of domestic economies, provide the basis for the accusation of a treasonous plan to rob the American people, loot the assets of our country and to end the United States as a nation - and in fact, to end the concept of nationhood all together for the developed countries.
With the Houston Terms, they devised the means for corrupt politicians to sell the assets of countries out from under the citizens indirectly through fraudulently obtained debt instruments. The outcome of participation in this corrupt international system designed for theft, was inevitable, obvious and expected in view of the terms negotiated in these treasonous agreements.
Morocco was the first country to accept the Houston Terms. That's not surprising considering the special section in the Helsinki Final Act for the Mediterranean countries. The date of Morocco's acceptance of the terms was September 11, 1990.
Excerpts about the Paris Club - from the Paris Club website:
Houston Terms (from History Section)
In September 1990, Paris Club creditors agreed to implement a new treatment of the debt of the lower middle-income countries. This new treatment called " Houston terms " grant three substantial enhancements with respect to classic terms, that can be implemented on a case by case basis:
- non-ODA repayment periods are lengthened to or beyond 15 years and ODA repayment periods are lengthened up to 20 years with a maximum of 10-year grace;
- ODA credits are rescheduled at a concessional rate;
- debt swaps can be conducted on a bilateral and voluntary basis.
As of today, 20 countries have benefited from the Houston terms.
Paris Club agreements may contain a provision enabling creditors to voluntarily engage in debt swaps. These operations may take the form of debt-for-nature, debt-for-aid, debt-for-equity or other local currency debt swaps. These swaps usually take one of the following terms:
- the debtor country directs the servicing of the debt to a fund that will be used to finance development projects in the country (debt-for-development swaps)
- the sale of the debt by the creditor government to an investor who in turns sells the debt to the debtor government in return for shares in a local company or local currency to be used for projects in the country.
In order to preserve comparability of treatment and solidarity among creditors, debt swap amounts for non-ODA claims are capped at a certain percentage of each individual Paris Club creditor's stock of claims. There are no restrictions regarding debt swaps on ODA claims.
To ensure full transparency between creditors, debtors and creditors submit a report to the Paris Club Secretariat on the transactions conducted.
[Meetings] A debtor country is invited to a negotiation meeting with its Paris Club creditors when it has concluded an appropriate programme with the International Monetary Fund (IMF) that demonstrates that the country is not able to meet its external debt obligations and thus needs a new payment arrangement with its external creditors (conditionality principle). Paris Club creditors link the debt restructuring to the IMF programme because the economic policy reforms are intended to restore a sound macroeconomic framework that will lower the probability of future financial difficulties.
The 19 Paris Club permanent members are countries with large exposure to other States worldwide and that agree on the main principles and rules of the Paris Club. The claims may be held directly by the government or through its appropriate institutions, especially Export credit agencies. These creditor countries have constantly applied the terms defined in the Paris Club Agreed Minutes to their bilateral claims and have settled any bilateral disputes or arrears with Paris Club countries, if any. The following countries are permanent Paris Club members:
Agreed Minutes
Participating creditor countries and the debtor country sign Agreed Minutes at the end of a negotiation session. This document states the commonly agreed debt treatment in writing. This is not a legally binding document but a recommendation by the heads of delegations of Participating creditor countries and of the debtor country to their governments to sign a bilateral agreement implementing the debt treatment.
The Paris Club activity is organized around monthly sessions.
These sessions are prepared by a Secretariat General.
The Chair and the General Secretariat of the Paris Club are run by senior officials
from the French Treasury.
[Note: Pay attention to the Chair, and click on his name to see his biography and what he was doing before becoming Chair: Transportation.]
The Chairman of the Paris Club, traditionally a senior official of the French Treasury, is currently Mr Ramon FERNANDEZ, Director General of the Treasury and Economic Policy.
His deputies at the French Treasury and Economic Policy General Directorate serve as Co-Chairperson and Vice-Chairman.
Ms Delphine d'AMARZIT, Assistant Secretary for Multilateral and Development Affairs, is Co-Chairperson, and Mr Rémy RIOUX, his Deputy in charge of International Financial Affairs and Development, is Vice-Chairman.
The Secretary General, currently Mrs Claire CHEREMETINSKI, runs a ten-person team of French Treasury officials.
External debt is one of the sources of external financing for developing countries, with equity (notably foreign direct investment), grants and worker remittances.
This external debt can be classified under different categories.Evian Approach - (WATER - control the water and you control life)
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Vicky Davis
November 21, 2011
Related Articles:
Battle of Ideas and Systems
Part 1 -
Introduction
Part 2 -
Declaration of War, December 7, 1988
Part 3 -
Democracy as the Trojan Horse
Part 4 - World of Opposites
Part 5 - Decision Point
** note information above on the Paris Club was extracted from
this page