18 October 2010
- Updated 23 November 2013
Contact:
Stephen M. Apatow
Founder,
Director of Research & Development
Humanitarian
Resource Institute (UN:NGO:DESA)
Humanitarian University
Consortium Graduate Studies
Center
for Medicine, Veterinary Medicine & Law
Phone:
203-668-0282
Email:
s.m.apatow@humanitarian.net
Internet:
www.humanitarian.net
International
Disaster Information Network
Url:
www.humanitarian.net/idin
Timeline: The
Decade From Hell
The
events during this last decade may well be recorded as the largest
intercoordinated series of global financial crimes in world history.
Year 2000
Conversion: Global Infrastructure
Analysis &
Contingency Planning: Coordinated in cooperation with the U.S. Federal
Emergency Management Agency, Humanitarian Resource Institute.
The
Timeline:
- Year 2000 Conversion presents a technology
challenge that could
shut down the
infrastructure of every UN member country. [1]
- Y2K viewed as a one time global central bank
coordinated
liquidity
infusion to assist remediation, supporting 193 UN member countries. [2]
- Global strategic plan focuses on exploitation
of liquidity.
- Repeal of 1999 Glass-Steagall, separates
commercial and
investment banking, established in 1933 following post 1929 Market
Crash (1929-33 Reserve bank driven boom period fueled by combined
commercial and investment banks). [3]
- Reserve bank funds transition into financial
markets and
proprietary trading.
- 2000 Commodity Futures Modernization Act
deregulates OTC
derivatives. [4,5]
- Global markets rally.
- Tech Bubble and Crash follow 911 shock.
- Housing market used to drive recovery, CDS,
CDO debt instruments
exploited through unregulated OTC derivatives market.
- Unregulated shadow banking system expands to
$1.4 Quadrillion in
2006. [6]
- Global Financial markets collapse in 2008,
focus transitions to
emergency actions to address financial crimes in unregulated markets
(2000-2008).
- Emergency regulatory actions shut down,
emergency reserve bank
funds transition back into markets (Zero Interest Rate Policy).
- Global distortions and hyperinflation
continues to spiral the
global financial system into a deeper crisis. [7]
- Countries remain in technical insolvency,
emergency actions
viewed once again as a vehicle leverage by investment banks.
- Political and lobbying efforts shut down
emergency efforts to
separate commercial and investment banks (the #1 priority following the
2008 Global Market Crash, combined with restructure).
- Damage caused by unregulated OTC derivatives
market and shadow
banking system (2000-2008) can only to be addressed through a 193
country global strategic plan for restructure and debt relief. [8]
- Objective viewed as a political impossibility,
outside another
market crisis or crisis responsive scenario.
- 2013 Efforts continue to target the root
causes of the financial
crisis, that caused the collapse of financial markets in 2001-2002,
with a systemic global market collapse in 2008.
References:
- Year 2000 Conversion: Global Infrastructure
Analysis &
Contingency Planning: Humanitarian Resource Institute. Url: http://www.humanitarian.net/contingency.html
- Public Provision of Private Liquidity Prior to
the Millennium
Date Change: Federal Reserve Bank of New York, 23 September 2005. Url: http://www.newyorkfed.org/research/conference/2005/liquidity/Sundaresan_Wang.pdf
- FDIC: The Great Depression: 1929-1939: Url:http://www.fdic.gov/about/learn/learning/when/1930s.html
- Commodity Futures Modernization Act H. R.
5660: Commodity Futures
Trading Commission (CFTC). Url: http://www.cftc.gov/ucm/groups/public/@lrrulesandstatutoryauthority/documents/file/ogchr5660.pdf
- 2000 Commodities Act Paved Way For Problems:
NPR, 20 March 2009.
Url: http://www.npr.org/templates/story/story.php?storyId=102185942
- Remarks by Jill Considine: At the joint
European Central
Bank/Federal Reserve Bank of Chicago Conference on “Issues Related to
Central Counterparty Clearing” Frankfurt, Germany, April 4, 2006.
Url: http://www.ecb.int/events/pdf/conferences/ccp/Considine.pdf
- Y2K=QE2: Charts, Safe Haven. Url: http://www.safehaven.com/article/20661/y2kqe2
- H-II Appeal to International Bar Association - Tools
for Restructure: HRI:UNArts Humanitarian Intervention Initiative,
26 May 2011. Url: www.unarts.org/H-II/ref/5262011IBAHRI.html
IDIN
Discussions
Financial
Crimes: Global Defense
Infrastructure (1999-2013)
UN
Economic Emergency
###
|
