Al Gore, UN Secretary-General, others now demanding 'Great Reset' of global capitalism

The economic, social and political chaos caused by the COVID-19 outbreak and Black Lives Matter protests have for months captured the attention of virtually every American — and for good reason. These are incredibly important issues worthy of significant and thoughtful debate.

At a meeting hosted by the highly influential World Economic Forum earlier in June, powerful officials from nonprofits, government, business, academia, labor unions and activist groups announced their plan for a “Great Reset” of global capitalism. It’s a proposal they acknowledged has only been made possible because of the “opportunity” provided by the economic destruction caused by the novel coronavirus.

Supporters and attendees of the meeting included Prince Charles; António Guterres, the secretary-general of the United Nations; Ajay Banga, CEO of MasterCard; Bernard Looney, CEO of BP; and Gina Gopinath, the chief economist at the International Monetary Fund, among many others.

The purpose of the Great Reset isn’t merely to enact policies that would lead to additional wealth redistribution, but rather to completely overhaul the world’s existing structures and institutions

In an article published on the World Economic Forum’s website, Klaus Schwab, the founder and executive chairman of WEF, wrote of the Great Reset, “Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a ‘Great Reset’ of capitalism.”

The WEF meeting featured a powerful line-up of global leaders, all of whom seemingly agreed the Great Reset is necessary to “rebalance economies,” promote “fairness,” and create greater “equity” within societies and among nations.

The purpose of the Great Reset isn’t merely to enact policies that would lead to additional wealth redistribution, but rather to completely overhaul the world’s existing structures and institutions. Among other things, Schwab has said of the Great Reset, “the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions.”

How, exactly, are these leaders planning on convincing Americans and citizens of every other industrialized nation to abandon modern capitalism? By scaring people into believing that these changes are essential for stopping the next great “crisis” the world will face when the COVID-19 pandemic finally subsides: climate change.

At the World Economic Forum’s June meeting, one speaker after another cited climate change and environmental sustainability as the key justifications for radical economic changes that would include massive new regulations and restrictions on economic activity, wealth taxes and expansive government programs comparable to the Green New Deal.

For example, Sharan Burrow, the general secretary of the International Trade Union Confederation (ITUC), said, “We want an end to the profit-at-all-costs mentality, because if we don’t build an economic future within a sustainable framework in which we are respectful of our planetary boundaries, and the need to change our energy and technology systems, then we will not have a living planet for human beings.”

“The Great Reset is a welcome recognition that this human tragedy must be a wake-up call,” said U.N. Secretary-General Guterres. “We must build more equal, inclusive and sustainable economies and societies that are more resilient in the face of pandemics, climate change and the many other global changes we face.”

And if that weren’t enough, Al Gore, the king of climate alarmism, recently touted the “Great Reset” during an interview on NBC’s “Today” television show.

“So, I think this is a time for a ‘Great Reset,’” Gore said. “We’ve got to fix a lot of these problems that have been allowed to fester for way too long. And the climate crisis is an opportunity to create tens of millions of new jobs, clean up the air, and reduce the death rate from pandemics, by the way, because the air pollution from burning fossil fuels heightens the death rates from coronavirus. So, this is a time for a reset to fix a bunch of challenges, first among them the climate crisis.”

If these quotes don’t terrify you, they should. Here we have some of the world’s most influential people calling for the destruction of global capitalism, all while American cities burn, statues of founding fathers are torn down and the world economy struggles to recover from its worst collapse in a century.

Revolutionary changes are always more likely to occur in the midst of chaos.

Further, the historically loose monetary policies of the largest central banks have made it easier than ever for governments to control economic activity through the printing and distribution of money, an economic strategy called Modern Monetary Theory.

This is precisely why the self-described socialist Bernie Sanders, the senator from Vermont, made Stephanie Kelton, America’s most prominent Modern Monetary Theory academic, his senior economic advisor for both his 2016 and 2020 presidential campaigns.

We’re still in the earliest phase of the Great Reset. The full plan won’t be rolled out until January 2021, when the World Economic Forum will host its annual meeting in Davos. But the framework of the plan is clear: By combining many of the money-printing strategies endorsed by Modern Monetary Theory economists with global Green New Deal-like policies and corporate cronyism, the elites at the World Economic Forum can effectively control economic activity on a scale that has never been achieved.

These are truly dangerous times for those who support individual liberty and free markets.

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Global Financial Stability Report

A Crisis Like No Other, An Uncertain Recovery Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. In 2021 global growth is projected at 5.4 percent. Overall, this would leave 2021 GDP some 6½ percentage points lower than in the pre-COVID-19 projections of January 2020. The adverse impact on low-income households is particularly acute, imperiling the significant progress made in reducing extreme poverty in the world since the 1990s.

As with the April 2020 WEO projections, there is a higher-than-usual degree of uncertainty around this forecast. The baseline projection rests on key assumptions about the fallout from the pandemic. In economies with declining infection rates, the slower recovery path in the updated forecast reflects persistent social distancing into the second half of 2020; greater scarring (damage to supply potential) from the larger-than-anticipated hit to activity during the lockdown in the first and second quarters of 2020; and a hit to productivity as surviving businesses ramp up necessary workplace safety and hygiene practices. For economies struggling to control infection rates, a lengthier lockdown will inflict an additional toll on activity. Moreover, the forecast assumes that financial conditions—which have eased following the release of theApril 2020 WEO—will remain broadly at current levels. Alternative outcomes to those in the baseline are clearly possible, and not just because of how the pandemic is evolving. The extent of the recent rebound in financial market sentiment appears disconnected from shifts in underlying economic prospects—as the June 2020 Global Financial Stability Report (GFSR) Update discusses—raising the possibility that financial conditions may tighten more than assumed in the baseline.

All countries—including those that have seemingly passed peaks in infections—should ensure that their health care systems are adequately resourced. The international community must vastly step up its support of national initiatives, including through financial assistance to countries with limited health care capacity and channeling of funding for vaccine production as trials advance, so that adequate, affordable doses are quickly available to all countries. Where lockdowns are required, economic policy should continue to cushion household income losses with sizable, well-targeted measures as well as provide support to firms suffering the consequences of mandated restrictions on activity. Where economies are reopening, targeted support should be gradually unwound as the recovery gets underway, and policies should provide stimulus to lift demand and ease and incentivize the reallocation of resources away from sectors likely to emerge persistently smaller after the pandemic.

Strong multilateral cooperation remains essential on multiple fronts. Liquidity assistance is urgently needed for countries confronting health crises and external funding shortfalls, including through debt relief and financing through the global financial safety net. Beyond the pandemic, policymakers must cooperate to resolve trade and technology tensions that endanger an eventual recovery from the COVID-19 crisis. Furthermore, building on the record drop in greenhouse gas emissions during the pandemic, policymakers should both implement their climate change mitigation commitments and work together to scale up equitably designed carbon taxation or equivalent schemes. The global community must act now to avoid a repeat of this catastrophe by building global stockpiles of essential supplies and protective equipment, funding research and supporting public health systems, and putting in place effective modalities for delivering relief to the neediest. Source

Turkish diplomat Volkan Bozkir was elected 75th President of the UN General Assembly

Turkish diplomat Volkan Bozkir was elected 75th President of the UN General Assembly on Wednesday, reported the UN News. Bozkir was the sole candidate in the secret ballot. Needing a simple majority to be appointed, he received 178 votes; 11 countries abstained.

Born in 1950, Bozkir studied law and has been a diplomat and politician for over 45 years. Among his diplomatic roles, he has been First Secretary of the Turkish Embassy in Baghdad, Consul General in New York, Ambassador in Bucharest and Permanent Representative of Turkey to the EU.

Moreover, he has held senior advisory positions in Turkey and in 2011 was elected as an MP. Parliamentary roles include Chairman of the Foreign Affairs Committee, Chairman of the Turkey-USA Inter-Parliamentary Friendship Caucus and Co-Chairman of the Turkish-Russian Civic Forum.

His presidency of the General Assembly coincides with the 75th anniversary of the organisation. In his vision statement, Bozkir said:

“The 75th anniversary of the UN gives us a unique opportunity to renew our commitment to multilateralism and the central role of the UN therein. I will represent the membership as a whole, take the views and interest of all member states into account and reconcile them to the best of my abilities.”

Turkey, of course, is host to around four million refugees from neighbouring conflict zones. As far as Bozkir is concerned, the UN is the most important platform to give voice to the most vulnerable, namely, refugees, immigrants and stateless persons. He stressed that he will ensure that the General Assembly emphasises humanitarian action in a world of growing inequalities.

“I will especially endeavour to contribute to the efforts of the international community and the UN initiatives to ensure impartial and unhindered delivery of humanitarian assistance and full respect for international humanitarian law in conflicts and crises.”

Countries suffering from the consequences of racism and disrespect around the world hope that his election will strengthen global solidarity and cooperation.

“We believe that under his leadership,” tweeted China’s Mission to the UN, “#UNGA will strengthen solidarity and cooperation, uphold multilateralism and carry forward the purposes and principles of the UN Charter.”

Widely regarded as the country which inflicts most suffering and oppression on other nations, nevertheless the US tweeted from its Embassy in Turkey that it hopes that Bozkir will advance “international peace and prosperity”.

Following the election of Bozkir as General Assembly President and five new non-permanent members of the UN Security Council, a similar hope was expressed by the High Representative of the EU for Foreign Affairs and Security Policy, Josep Borrel. “With these elections comes responsibility,” he said.

“The European Union looks forward to working with all to address global challenges in these uncertain times and to support international peace and security.”

Turkey has provided a lot of humanitarian and medical aid recently to states which could not deal with crises before and during the ongoing Covid-19 pandemic. Even some wealthier countries suffering from severe shortages of essential medical equipment have had reason to thank the government of President Recep Tayyip Erdogan.

“In addition to meeting the needs of our own people, we have provided medical assistance to 125 countries around the world,” Erdogan revealed last week. Such a generous response to the coronavirus crisis, which has flummoxed many supposedly more advanced nations, may be one reason why Turkey’s Bozkir won near absolute support in the General Assembly ballot this week.

That was certainly the gist of the message from Somalia, which is one of the countries that regularly receives Turkish aid. The Presidency of the Federal Republic described Bozkir’s election as, “A deserved leadership owing to Turkey’s humanitarian and brotherly diplomatic outreach.”

The oppressed people of Indian-occupied Kashmir hope that the new UN official will help them in their struggle for freedom and justice based on his country’s record of standing alongside the vulnerable and oppressed nations of the world. Ghulam Nabi Fai, Secretary-General of the World Kashmir Awareness Forum, wrote on Thursday: “If the people of… Kashmir had the freedom to express their sentiments, you would no doubt have heard their loud voice rejoicing at the fact that the distinguished representative of brother country — Turkey — is presiding this year over the parliament of nations.”

He added that he trusted Bozkir to bring his “immense influence to bear on initiating a peace process, which will lead to a speedy, just and honourable settlement of the dispute and restore their inalienable rights to the people of Jammu and Kashmir.”

The international community clearly has a lot of trust in Bozkir and his country due to their record in humanitarian affairs. UN High Commissioner for Refugees Filippo Grandi congratulated Bozkir, saying, “Turkey being the world’s largest refugee hosting country, we at UNHCR count on his knowledge and experience to keep States focused on this issue in a constructive, principled manner.”

If the world is convinced that it needs wise leadership to save it from conflicts, racism and hostility, it seems as if it has chosen the right person to lead the UN General Assembly over the 12 months from September. Nominated by the ambitious President of Turkey, the most ethical and helpful country in its efforts to help others without looking for individual or political gains, Bozkir appears to be a good fit for the role he has been assigned.

Furthermore, his election suggests that there are still people around the world who are genuinely interested in solving the global crises that affect us all. We should, therefore, all hope and pray that Volkan Bozkir is given the support that he needs to make the 75th anniversary session of the General Assembly its most successful yet.

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