Why are we demanding jobs or income at the G-20 Economic Crisis Meeting in Pittsburgh in September?
30 million people in the U.S. are unemployed or underemployed – We say NO!
What is the G-20?
It’s a group of Treasury officials and central bankers from 20 countries, the International Monetary Fund and the World Bank. Its goal is to protect bank profits, whatever it costs the people of the world.
The U.S. delegation is led by Treasury Secretary Timothy Geithner and Ben Bernanke, head of the Federal Reserve System (The Fed). They organized a bailout of the banks, insurance companies and stock brokerages that totals $12.6 trillion–or $42,105 for every adult and child in the U.S.
How much is a trillion dollars? It is 1,000 billion. And a billion is 1,000 million.
The Federal Reserve controls this money, yet most people have never heard of it. The Fed has seven governors, all bankers, appointed by the U.S. President for 14-year terms. George W. Bush appointed Bernanke Chairman of his Council of Economic Advisors and then head of the Fed. The Fed operates in secrecy, even from Congress, yet makes decisions affecting whether we work, have homes, or eat.
Geithner, the former chief of the NY Federal Reserve Bank, worked with the Fed under the Bush administration to devise the bank bailout. He invented the Troubled Assets Relief Program (TARP) and eight other programs to funnel taxpayer money into the banks. His top aide is from Goldman Sachs Bank. He changed bank regulations to prohibit congressional audits of the Federal Reserve.
Who is representing the people at the G20 conference? No one!
Profit recovery for banks –
Jobless ‘recovery’ for workers