Delivered by Christine Lagarde, Managing Director, International Monetary Fund, London, February 3, 2014
tine Lagarde, Managing Director, IMF
Good evening. It is a great honour to be invited to deliver this year’s Dimbleby Lecture, and I would like to thank the BBC and the Dimbleby family for so kindly inviting me—and especially David Dimbleby for his warm words of introduction.
This evening, I would like to talk about the future. Before looking ahead, however, I would like to look back—for the clues to the future can often be read from the tea leaves of the past.
I invite you to cast your minds back to the early months of 1914, exactly a century ago. Much of the world had enjoyed long years of peace, and giant leaps in scientific and technological innovation had led to path-breaking advances in living standards and communications. There were few barriers to trade, travel, or the movement of capital. The future was full of potential.
Yet, 1914 was the gateway to thirty years of disaster—marked by two world wars and the Great Depression. It was the year when everything started to go wrong. What happened?
What happened was that the birth of the modern industrial society brought about massive dislocation. The world was rife with tension—rivalry between nations, upsetting the traditional balance of power, and inequality between the haves and have-nots, whether in the form of colonialism or the sunken prospects of the uneducated working classes.
Read full text of Christine Lagarde’s Address and Video
A wealthy slave merchant’s 270-year-old notebook and business log (pictured) has revealed a chilling insight into the slave trade and attitudes to human trafficking – http://www.dailymail.co.uk/
It seems unconscionable human beings of any era would be of such a ‘mind’ to treat fellow human beings like chattel (cattle). To compound the thought many slave traders of the day in the Mother Country labelled themselves Christians. BU dares to ask what has changed in 2014 compared to nearly 300 years ago. One sees the political directorate plying their nonsense in our parliament and the number of millionaires being generated at the bat of an eye. The same occurred when our ancestors sold us out for the proverbial ‘mess of potage’ all those years ago. The more things change the more they remain the same.
Here is a related link: http://www.dailymail.co.uk/sciencetech/article-2552473/Bristol-merchant-Cranfield-Bechers-notebook-shows-slaves-treated.html
Submitted by Pachamama
Is Capitalism about to crash?
“Complex societies collapse by continuing to do the same kinds of things that cause that collapse – Derrick Jensen, Philosopher
“The mass cling to its masters, loves the whip, and is the first to cry ‘crucify’.” Emma Goldman – Anarchist, Political Philosopher, Social Activist
Recent comments by the Prime Minister of Barbados Fruendel Stuart (FJS) in relation to the perilous state of the world economy come mere months after similar remarks by the Prime Minister of Saint Lucia. Both maximum leaders rightly located the problems of their countries outside of their respective spheres of influence, even spheres of control. More precisely, Kenny Anthony told us that Caribbean countries were on the brink of collapse while Stuart went straight to the crux of the matter in stating, clearly, that no minister of finance, in the world, knows what he/she is doing. What a profound statement! And in this, he is absolutely correct!
While we have had occasions to publicly indict FJS for governmental malpractice of the highest order, at this time, we are indeed happy to see that what we have been saying for more than ten years is now just starting to be mouthed by the backward political elites in the Caribbean. This time we hold out no expectation that the clock to disaster will stop for one moment. We do not expect that there will be any vigorous debate about an alternative political-economy model. We do not expect, that for one moment, the regular cut and thrust of the petty adversarial politics in the Caribbean will cease to bring a wider understanding to the words of these two prime ministers. Words that are pregnant with meanings.
Submitted by Cedriann Martin | Communications Officer | UNAIDS Caribbean Regional Support Team
Photo caption: (L-R) Michel Sidibe Executive Director UNAIDS, Singer Rihanna, John Demsey, Chairman, M-A-C AIDS Fund and Nancy Mahon, Global Executive Director, MAC AIDS Fund, attend the MAC Cosmetics Launch of Viva Glam Rihanna at MAC Store Soho on January 29, 2014 in New York City – Read full Press Release
Xi Jinping and Wen Jiabao: relatives appear on the list.
Files shed light on nearly 22,000 tax haven clients from Hong Kong and mainland China.
Note: A Chinese version of this story is available here
Close relatives of China’s top leaders have held secretive offshore companies in tax havens that helped shroud the Communist elite’s wealth, a leaked cache of documents reveals.
The confidential files include details of a real estate company co-owned by current President Xi Jinping’s brother-in-law and British Virgin Islands companies set up by former Premier Wen Jiabao’s son and also by his son-in-law.
Read more:Leaked Records Reveal Offshore Holdings of China’s Elite
Submitted by Pachamama
For years foreign policy aficionados have been thinking and writing about the ‘‘Great Game Theory”. Brzezinski for nearly 50 years has been theorizing that the relative winner of the stupendous resources of Central Asia will, to a large extent, determine global dominance for the foreseeable future. There are those who argue that most of what we have seen in the last half century was merely the movement of the lesser chess pieces to open up this grand chess board and for the checkmating of other interests in this geo-political, geo-strategic game for global dominance.
As we write some very interesting manifestation about the state of the game are appearing. These may indicate the relative positions of the contenders on this ‘Grand Chess Board’ are shifting. It may not be totally clear as to which side/s are in the ascendancy. This is the problem with intrigues, you see, we never really known on whose side the various forces are deployed until the game is over. However, we are persuaded that the power to control the world more generally and Central Asia in particular has reached, what is called in project management, a significant milestone. This has been the central project of the white power system for dacades.
Indicators include, the Iran/Western powers, rapprochement which is proceeding apace despite the pleadings of the Zionist regime; the stupefying tantrums from the Saudis to minimize the geo-strategic importance of Iran; the feeble efforts by Zionist elements in the US Congress to sabotage the Three-Plus-Three agreement, over the nuclear issue, with Iran in Geneva; the decision in Lebanon by Saad Hariri to, after years of obfuscation and hoping that the Saudi terrorist initiative in the wider region would lead to the destruction of his political enemies and Iran’s staunchest ally in Lebanon, Hezbollah; the coming agreement for the formation of a national unity government with the dominant Hezbollah; warnings from the US ambassador to Lebanon that prince Bandar al-Saud will be replaced as chief intelligence officer in Saudi Arabia by a committee of three; the failure of the USA to convince Afghan President Hamid Karzai to sign the so-called Status of Forces Agreement (SOFA) with the USA by the end of 2013; raw tensions between the USA and the Zionist regime over the Palestinian issue; the weakening of Turkey’s President Hamid Gul and Prime Minister Recep Tayyip Erdogan as Obama’s blue eye boys for the western region surrounding Central Asia – the so-called Middle East; the force acceptance by the Western sponsored terrorist elements in Syria to attend ‘peace talks’; the collapse of western sponsored efforts to remove President Assad of Syria as his government gains ascendancy over the Western-sponsored Takfiri-Salafist terrorist forces which continue to be cleanse from the Syrian countryside.
BU continues to receive several inquiries to the whereabouts of Barbadians Andrew Murray who duped many Canadian investors. The blog was first posted in 2008.
Originally posted on Barbados Underground:
Chris Sinckler, Minister of Foreign Affairs, Foreign Trade and International Business
Barbados under successive governments has taken great pride building an offshore sector that is respected. While other offshore domiciles have chased quantity, Barbados has targeted the quality International Business Corporations (IBCs) by creating a rigorous legislative regulatory framework. We have no doubt that Minister of Foreign Affairs Chris Sinckler and his Junior Minister Donville Inniss would want to build on the good work done by those who have preceded them. It is against this background that we have decided to highlight a matter which has been drawn to our attention.
The matter concerns 80 year old Canadian John Doe and Bridge Management (Barbados) Incorporated – (IBC registered in Barbados). We have given our commitment to our source that we will withhold certain information to ensure that confidentiality is respected. We ask the BU family to bear with us as we try to highlight how a man in the twilight of his years needs the help of the Barbados government to resolve a financial dispute ongoing for approximately three years. The fact that the dispute involves an IBC domiciled in Barbados has the potential to tarnish the good reputation of a sector which successive Barbados governments have worked hard to guard against.
Submitted by Pachamama
…Barbados dollar as exacerbated by a lack of a vision that would have strategically redeployed the reserves of the country into gold, Bitcoin, silver and other real wealth currencies…
The rapid evolution of mankind over recent millennia, and particularly after the Industrial Revolution, has hit a significant speed bump. We write this with the certain knowledge that we stand high risks of having all of our predictions being spectacular misjudgements. But unlike the general culture from which we come, we are bold and brave enough to not only try to bring new understandings to the past and better understand the present, we are prepared to, with audacity and poise, be daring enough to predict future events, in the short, medium and long term. As soothsayers, we predict that we are indeed at the end of an age that no set of forces can slow, moderate or reverse, even though humans are totally responsible for all these constructs but lack any real and concerted determination to radically alter outcomes.
The global decline of a vicious White power structure, we judge, will continue apace despite unusual efforts in Western capitals to stem the slide. It however, has a potential to take us all with it. The more they try the worse things will become. The manifestations of the economic decline of Europe will prominently appear in the streets of the USA in 2014, as early indications have already shown. These will be expressed by resource riots in the streets, soaring crime rates, rising levels of real unemployment as independently measured, a more indebted government, a more overt presence of a militarized police state, a further balkanization of populations in ‘protected’ or gated communities and the mass migration of those who could afford it. All this as more American cities and states discover the spectre of bankruptcy at their doorstep. Like Detroit, many more cities will be joining the conga line in 2014 and beyond.
Submitted by Pachamama
The recent devastating and unusual weather in the Eastern Caribbean represents the latest manifestations of the effects of human induced climatic disruptions that will only get worse. It should be fairly clear by now that these new normal weather events, in scale and scope, are equal opportunity harbingers of dangers which will leave few on earth unharmed.
We have had extreme weather events from places like New York, the Philippines, Iran, England, China, Russia, Turkey and most world countries. Whether earthquakes, unusual flooding, hurricanes, tropical storms, hail storms, snow storms, tornadoes, cyclones, or droughts, Pachamama seems determined to correct a human imposed environmental imbalance, like she has done several time before. We must avoid this great ‘shaking off’. For her actions are most likely to be felt by small, resource poor, island states which are seemingly on their own in confronting her massive power.
In this regard, Pachamama seems to have no notion about a democratic or equitable distribution of pain and suffering. For anecdotally, she seem to inflict her flurry on developing countries, disproportionately. Countries like Tuvalu, Saint Vincent, Saint Lucia and Thailand. Countries that had little to do with the massive and increasing postindustrial emissions of greenhouse gases. Small island states have benefited little from this most recent phase of human activity which Westerners like to call ‘civilization’ as given us by the British.