ouch,or,,,read Treasury Secretary Janet Yellen Delivers Remarks Outlining “The future of Our International Order,” and Need to “Deca

Treasury Secretary Janet Yellen Delivers Remarks Outlining “The future of Our International Order,” and Need to “Decarbonize Our Economies”
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Treasury Secretary Janet Yellen delivered a remarkable speech today outlining “the future of the international order,” in the aftermath of the global pandemic and the current conflict in Ukraine. Within the speech, Yellen outlines the priorities of the United States according to the current administration and the international financial mechanisms that she controls.

The speech is quite jaw-dropping when you consider the nature of her position, and the fact that she is an unelected bureaucrat within government.

As you read the speech {Transcript Here}, keep in mind she is not the President of the United States, or the commissioner of the New World Order, yet she presents herself as authorized to control the geopolitical constructs of the Biden administration. The hubris is astounding.

Secretary Yellen: outlines the goals and objectives of the international order, predicts a concerning global famine, warns against the cleaving of financial mechanisms for international trade as an outcome of the Ukraine conflict, threatens any nation who does not support the western political alliance and outlines the need for decarbonization of the global economy.

Yellen expresses all of these powers from the position of a U.S. Treasury Secretary – the equivalent of a government financial minister. Speech highlights with emphasis mine:

(Transcript) – […] “Russia’s horrific conduct has violated international law, including core tenets of the UN Charter—challenging countries to demonstrate where they stand with respect to the international order that has been built since World War II. Therefore, when I speak about a changed global outlook, I’m not just talking about growth forecasts. I’m also referring to our conception of international cooperation going forward.

I will focus my remarks today on the significance of international cooperation in this current environment and for our future.


[…] With Attorney General Garland, I convened a novel taskforce of law enforcement and finance ministry leaders from G7 and partner countries to advance our efforts. […] Rest assured, until Putin ends his heinous war of choice, the Biden Administration will work with our partners to push Russia further towards economic, financial, and strategic isolation.

[…] When Russia made the decision to invade Ukraine, it predestined an exit from the global financial system. Russian leaders knew that we would impose severe sanctions. […] We are now seeing higher commodity prices that have added to global inflationary pressures and are posing threats to energy and food security, trade flows, and external balances across many countries.

[…] The ultimate outcome for the global economy of course depends on the path of the war. Russia could end this unnecessary war and the near-term impact could be contained.

[…] While many countries have taken a unified stand against Russia’s actions and many companies have quickly and voluntarily severed business relationships with Russia, some countries and companies have not. Let me now say a few words to those countries who are currently sitting on the fence, perhaps seeing an opportunity to gain by preserving their relationship with Russia and backfilling the void left by others. Such motivations are short-sighted. The future of our international order, both for peaceful security and economic prosperity, is at stake.

[…] The Russian invasion of Ukraine has dramatically demonstrated the need for us to stand together to defend our international order and protect the peace and prosperity that it has conferred on advanced and developing countries alike. […] On some issues, like trade and competitiveness, this will involve bringing together partners that are committed to a set of core values and principles.

[…] we need to modernize the multilateral approach we have used to build trade integration.

[…] we should implement last year’s global tax deal. Some 137 countries—representing nearly 95 percent of the world’s GDP—have agreed to rewrite the international tax rules to impose a global minimum tax on corporate foreign earnings and to partially reallocate taxing rights from countries where companies are headquartered to those where they sell goods and services.

[…] the economic and financial response to the global financial crisis in 2008-2009 was too timid and short-lived. With inadequate global liquidity, the crisis caused lasting damage. In response to the pandemic, the IMF acted creatively to support poorer countries. […] Experts put the funding needs in the trillions, and we have so far been working in billions. The irony of the situation is that while the world has been awash in savings—so much so that real interest rates have been falling for several decades—we have not been able to find the capital needed for investments in education, healthcare, and infrastructure.

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