Learn English with Bill Clinton. Bill Clinton is a crook. He is part of the Rockefeller Club. He has a strange body language, and he thanks the Rockefellers for their support of the Federal Reserve. He also praises David Rockefeller for his support of Alan Greenspan.
00:01:27.000Dick Holbrook over here, I hope if we can overcome the inertia of Congress, he will soon be a member of the team again.
00:01:38.000I thank David Rockefeller and Les Gelb and others who welcomed us here today.
00:01:46.000The subject that I want to discuss, let me just say one thing in advance.
00:01:56.000I'm going to give you my best thoughts.
00:01:58.000We have been working on this for three years at some level of intensity or another.
00:02:06.000Going back to the Naples G7 meeting in the aftermath of the Mexican financial crisis.
00:02:13.000I have done everything I could do personally to reach out across.
00:02:19.000The country and indeed across the world for any new ideas from any source.
00:02:26.000I'm going to give you my best thinking today about what we can do.
00:02:30.000But I want you to know that I'm here and if I had my druthers this would be about a three-hour session where I'd give this talk and then I would listen for the rest of the time.
00:02:39.000So I want to encourage you if you think we're right to support us.
00:03:07.000You're a machine of terror and lies and smiley-faced bureaucratic BS. I thank David Rockefeller and Les Gelb and others who welcomed us here today.
00:03:32.000Look, I don't want to sit here and be nitpicky about the president, but take a long look at the strange body language.
00:03:40.000Is he pleading to David Rockefeller that is sitting to his right?
00:06:09.000The last decade, the growth of freedom around the world, with more than half the people in the world living under governments of their own choosing.
00:06:18.000More than half the villages, the one million villages in China now, even electing their own governments.
00:06:25.000And this sweeping replacement of command and control economies by market economies.
00:06:30.000I think it seems to have happened So easily, so effortlessly, so inexorably.
00:06:37.000Okay, well, you've heard the doublespeak.
00:06:40.000I'm not going to get back into that statement anymore.
00:06:42.000Yes, central banks controlled by Europe and London and New York are taking over.
00:06:50.000We'll get into Russia in just a few minutes.
00:06:51.000It's a perfect textbook example of what we've done to them.
00:06:56.000It's not we, it's them, CFR. Obviously, we have profound interest.
00:07:05.000It is a great irony that we are at a moment of unsurpassed economic strength at a time of such turmoil in the world economy.
00:07:15.000I think all of us in this room know that our future prosperity depends upon whether we can work with others to restore confidence, manage change, stabilize the financial system, and spur robust global growth.
00:07:50.000He said, moving away from command and control, and now we need global management and managed change and all the rest of this?
00:07:58.000Now, I'm trying to get it straight here.
00:08:00.000They're taking our money, U.S. taxpayer money, going and paying off politicians from Indonesia to Russia to quadruple their taxes to pay the IMF profits.
00:08:09.000But the politicians in those countries get to keep the kickback money.
00:08:19.000Clearly the balance of risks has now shifted with a full quarter of the world's population living in countries with declining economic growth.
00:09:50.000Clearly the balance of risks has now shifted.
00:09:53.000With a full quarter of the world's population living in countries with declining economic growth, or negative economic growth.
00:10:03.000Therefore, I believe the industrial world's chief priority today, plainly, is to spur growth.
00:10:10.000It seems to me there are six immediate steps we should take to help contain the current financial turmoil around the world, and then two longer-term projects in which We must be involved.
00:10:28.000We must work with Japan, Europe, and other nations to spur growth.
00:10:32.000Second, we will expand our efforts to enable viable businesses in Asia to emerge from crippling debt burdens so they can once again contribute to growth and job creation.
00:10:45.000Third, we've asked the World Bank to double its support for the social safety net in Asia.
00:10:52.000To help people who are innocent victims of financial turmoil.
00:10:57.000Well, I mean, what is he talking about?
00:10:59.000That's political payoff to the government to quadruple taxes.
00:11:17.000We'll urge the major industrial economies to stand ready to use the $15 billion and IMF emergency funds to help stop the financial contagion from spreading to Latin America and elsewhere.
00:11:32.000Fifth, our Ex-Im Bank, under the leadership of Jim Harmon, will intensify its efforts to generate economic activity in the developing world immediately in the next three months.
00:11:43.000And sixth, Congress must live up to its responsibility for continued prosperity by meeting our obligations to the International Monetary Fund.
00:11:55.000Secretary Rubin has been working with his counterparts in the G7 to get cooperative support for several of these measures.
00:12:01.000I understand Chairman Greenspan is also conducting consulting with his counterparts on these items as well.
00:12:09.000As we take these immediate steps, we also must intensify our efforts to reform our trade and financial institutions so that they can respond better to the challenges we now face and those we are likely to face in the future.
00:12:23.000We must build a stronger and more accountable global trading system, pressing forward with market-opening initiatives, but also advancing the protection of labor and environmental interests and doing more to ensure that trade helps the lives of ordinary citizens across the globe.
00:12:39.000Above all, we must accelerate our efforts to reform the international financial system.
00:12:45.000Today, I have asked Secretary Rubin and Federal Reserve Board Chairman Greenspan to convene a major meeting of their counterparts within the next 30 days to recommend ways to adapt the international financial architecture to the 21st century.
00:13:01.000What he's talking about is banking consolidation, okay?