Under the agreement currently being advocated by the Obama administration, American corporations would continue to be subject to domestic laws and regulations on the environment, banking and other issues. But foreign corporations operating within the U.S. would be permitted to appeal key American legal or regulatory rulings to an international tribunal. That international tribunal would be granted the power to overrule American law and impose trade sanctions on the United States for failing to abide by its rulings.Got that?
An INTERNATIONAL TRIBUNAL could overrule American law.
Ron Kirk, Obama's trade representative was on the radio today to mitigate the disaster.
Basic public health and land-use rules would be subject to challenge before an international tribunal, as would bank regulations at capital levels that might be used to stymie bank runs or financial crises. The IMF has advocated the use of such capital controls, which would be prohibited under the current version of the leaked trade pact.What happens if he gets another four years? What else has happened that we don't know about? Will America become just another member of a global union? There's already concern that IMF Director is ordering Bernanke around, which would mean that cash that this country is producing is being funneled toward Greece and Italy and a lot of other countries who have 30 hour work weeks and retire at age 50.
Obama, who declared himself a socialist member of the New Party of Chicago, asked for their endorsement when he first ran for office in the 90s.
Yes, socialist Barack Hussein Obama has betrayed the sovereignty of the US of A yet again.
In between fundraisers with the 1%, golf outings and parties, Obama snips at those who disagree with him and seeks to undermine American businesses every chance he gets.