Jerome Corsi reminds us once again why nobody should trust his economic advice (or at least not pay $99 a year to hear it). From an April 8 WorldNetDaily promo for the latest "Jerome Corsi's Red Alert" newsletter:
At the G20 meeting in London, President Obama agreed to create of an international board with authority to intervene in U.S. corporations by dictating executive compensation and approving or disapproving business management decisions, Jerome Corsi's Red Alert reports.
Political consultant Dick Morris said that by agreeing to create the Financial Stability Board, Obama is a "willing accomplice" to a decision that effectively repealed the U.S. Declaration of Independence and abrogated the sovereignty of the United States.
The final communiqués coming out of the G20 meeting in London April 2 included a document entitled "Declaration on Strengthening the Financial System."
"By agreeing to the stipulations in this document, President Obama gave the blessing of the United States to the G20 decision to elevate the Financial Stability Forum into the Financial Stability Board," Corsi wrote. "The United States has only one vote in the newly constituted Financial Stability Board, a group that will be largely controlled by European central bankers."
The new global regulator now has the authority to examine all U.S. banks, brokerage firms and corporations – including non-financial companies such as the Big Three automakers – to examine operations and determine risk.
Actually, no. The Financial Stability Board referenced in the G-20 communiqué does not contain cross-border authority and thus does not in any way limit or eliminate U.S. sovereignty. Further, an April 3 New York Times article -- a real news organization as opposed to WND -- reported, "While the leaders agreed to create a new Financial Stability Board to monitor the financial system for signs of risks, they stopped well short of giving regulators cross-border authority, something France has long advocated."
How many suckers have Corsi and WND conned into paying $99 a year for this fact-free garbage?
P.S. Morris himself repeated this same garbage in his April 7 Newsmax column.