Thursday 25th of April 2024

making the rich richer and the poor poorer by using anglo/saxon commercial company soft law "with a mission"....

Valérie Bugault holds a doctorate in law from the University of Paris — Panthéon-Sorbonne. In her thesis on business law, she developed a unified legal theory, described as "iconoclastic", of company law.

She worked as a tax lawyer in the field of financial exchange as well as in internal tax law before ceasing her career as a lawyer to devote herself to the analysis and sanitation of geopolitical economic issues.

In 2016, on the French-Saker website, she published a series of essays entitled "decrypting the global economic system", where she exposed tax havens and the international monetary system. She also co-wrote a book "The New SPIRIT of Laws and Money”, published in June 2017 by Sigest.

Valérie Bugault is counting on a financial and economic cleaning up of the planet, believing that it is high time to get out of the current state of affairs which favours tax havens.

 

TRANSLATION/ADAPTATION BY JULES LETAMBOUR

 

——————————

 

BY Valérie Bugault

 

At the express request of the Charles-de-Gaulle Foundation, I have agreed to clarify somewhat the legal and political context in which a new, legally very preposterous form of business, the “company WITH A MISSION STATEMENT".

 

Published on April 16, 2023 by Le Saker Francophone.

 

With such friends [WITH A MISSION], “participation” no longer needs enemies.

 

 

Contextualisation of the debate

 

The mission of the business company results naturally from its unique SOCIAL position.

 

We must start by specifying that giving companies a “mission” is in no way an innovation in relation to the existence of the corporate purpose. Indeed, it is the corporate purpose that explains the mission of the company, there is no need to add other missions; except, of course, to pursue a political objective that has nothing to do with the free and honest organisation of the economy, via the concept of enterprise.

 

This new “company mission” is in fact an additional regulatory constraint intended to weigh on entrepreneurs – who are already tired of all the existing ones. In order not to appear for what it is, this new constraint is deployed on a “voluntary basis”, at least initially, during a test period.

 

There is no doubt that this volunteering will, one day, be transformed into a compulsory legal form in order to respond, under the pretext of climate change, to the ecological objective known as "zero carbon", widely conveyed at the global level by organisations such as the IPCC, COP 21, the UN and Davos.

[GUSNOTE: CLIMATE CHANGE IS AN IMPORTANT ISSUE, BUT THIS ISSUE IS USED AS AN UNDERHANDED CONTROL MECHANISM OF MAKING THE RICH RICHER AND TRANSFORMING THE WORKING CLASS INTO SUBSERVIENT SLAVES.] 

 

 

Infiltration of Anglo-Saxon law in continental law countries

When we have EXPOSED for a long time, the methods of infiltration of Anglo-Saxon commercial and maritime law into our traditional [EUROPEAN] law, it is easy to detect the methodology that the Anglo-Saxons improperly call soft law (non-binding legal instruments). Improperly because, if the first appearance presents itself as being soft — understanding not obligatory — the final result never is: on the contrary, we are indeed in binding law, or hard law.

 

In this case, with the "mission society" we are in an intermediate phase of optional positive law, in other words optional hard law. The regulatory creativity of the economic dominators definitely has no limits.

 

 

Imperialist and globalist origin of Anglo-Saxon commercial-maritime law

This commercial-maritime law was developed for the needs of the imperialist cause developed by Olivier Cromwell; it was entirely ab initio under the financial control of the City of London.

[THE CITY OF LONDON IS LIKE A FREEPORT WITHIN THE ENGLISH SYSTEM OF TRADE. IT CONTROLS MORE THAN 50 PER CENT OF THE TAX HAVENS AROUND THE WORLD]

 

This type of “law” has spread widely at the international level, via numerous ad hoc institutions. Among these institutions, the British “East-India Company” occupies a special place: that of developing a model for the extraterritorial development of the British financial state. This pattern is found today in the “World Economic Forum” (WEF) which meets regularly in Davos. This “WEF” is nothing other than the global synthesis of “international chambers of commerce” acting under the direction of British high finance.

 

This entity, the WEF, aims to achieve widespread wealth grabbing. Its traditional modes of expression are genocide and slavery, on the precise model of what were the India Companies, particularly the British and Dutch companies, which historically developed around what is agreed today to call the "public-private partnership" (PPP).

 

Remember that this term PPP really and precisely means the privatisation of profits, which only benefit the bankers who provide financing, and the pooling of losses, which are exclusively borne by the citizen taxpayers who are victims, who have never had any control over the decisions that generated the said losses.

 

It must be considered that if France had, during the 17th and 18th centuries, its own trading companies — in India and others countries — the latter, which accounted for their actions to the French political power, were never the extraterritorial development of the state itself. Quite different was the British model in which the Company projected, beyond the borders, the British Crown itself.

 

The nomadic and integrated version of a State without borders, specific to the Dutch-British model of the East India Company (EIC), which is fully found in the WEF, has never existed in France. In the French case, there can be no question of a world government, whereas the Dutch-British model itself conveys a model of a nomadic and stateless financial world controlling state.

 

The mission company is the exact negation of the French continental law model

 

 

The “mission Company” role-playing game

The “Mission Company” plays the same game that the “Trust” played in its day: the smooth integration of the grabbing of the economy by the small caste of stateless bankers developed from the City of London.

 

Remember that in matters of war, it is always preferable for its instigators to follow the model of voluntary servitude and to advance its pawns with the consent of the victims.

 

Economic enslavement via the company is done by means of the termination of all the principles at the origin of continental civil law, followed by their replacement by the commercial-maritime regulations carried by Anglo-Saxon law, as it has developed since the time of the East India Companies.

 

The pre-eminence of commercial law over civil law, presently promoted both by European authorities and by French lawyers misguided by the commercialist cause, is not stricto sensu Law, it is a concept of regulation, for and by private interests, which is the exact opposite of the traditional concept of law carried by continental law.

 

The company with a mission — an underhanded means for the disappearance of the "freedom of enterprise"

The "company with a mission" plays the role of trickster, of “avant guarde" allowing the French to get used to the future disappearance of the "freedom of enterprise" since the banking support of these companies will depend on the future conformity of their claimed mission to the “zero carbon” cause newly invented and promoted by the great fundraisers of this world!

 

It should be noted, because the thing is both typical and pathetic, that this "mission society" has precisely adorned itself with the virtues of the need to liberate the company in order, in fine, to advance towards the opposite objective, that to bind companies permanently.

 

The fair denunciation of financialisation and capitalistic appropriation by the initiators of this law has, in the end, for only purpose the disappearance of freedom of enterprise since the existence of any society will henceforth be officially dependent of the financial "fait du prince” [arbitrary decision], that is to say of the bank providing credit and engaged in the race for "zero carbon".

 

Thus, business as usual (we do not change a winning method), the alleged need to free the company will serve to facilitate the definitive chaining of the latter to the goodwill, as surreal as it is dystopian, of the big money-makers, very concentrated, of this world. This “good will” will only revolve around a single objective: that of the [say fake] decarbonisation that they arbitrarily impose on the world.

 

The mission-driven enterprise is the exact negation of participation

It is interesting to note that the promoters of the “mission society” also claim, nothing less, than an imaginary filiation with the social doctrine of the Church at the origin of the concept of participatory society.

 

Once again, it is a question of promoting an image in total non-correlation, in radical opposition, with reality. Neither the social doctrine of the Church, nor the participatory enterprise have ever had as their objective the disappearance of the freedom of enterprise or its enslavement — to any objective other than the free choice of the determination of the social object by its creators.

 

The sole objective of the concept of "participation", which finds its source in the social doctrine of the Church of the 19th century, is to give back to the people — who act daily in the company, by contributing their work and their creative force — the status that has been stolen from them because of the statutory monopolisation of decision-making power by shareholders contributing capital.

 

Claiming to transform, as the company with a mission does, shareholder capitalism into stakeholder capitalism, known as “stakeholders”, has the sole objective, in the current state of capitalism, of further concentrating finances, by placing the system entirely in the hands of the bankers providing funds, who are now focusing on a single cause: decarbonisation. 

[Note: Stakeholder capitalism is the idea that businesses have a responsibility that extends beyond their shareholders. Employees, the media, and investors are urging businesses to take a stand on issues that affect their wider communities and create greater equality. This is a deceit to concentrate money in the hands of the rich and corporations.]

 

On the merits, it is obvious for any jurist trained in continental law that the company is, in itself and without any other subterfuge, a form of social organisation, by hypothesis included in political society. It is just as obvious that in traditional continental law the public entity that is the State has sole responsibility for regulating the economy, in particular by regulating business, and that the objective of this regulation is to develop the political group, understood as a collective principle.

On the contrary, the mission society conveys the idea that globalist bankers regulate the business and economy of nations according to their sole supranational categorial interest; this interest is now displayed as being that of “decarbonisation”.

 

Society, whether civil or commercial, naturally has as its spontaneous objective the development of the community, of the group in the political sense of the term; which is also – by the way – the primary purpose of money. This collective interest is realised through the development of entrepreneurs who implement an idea, who carry out a project.

 

Business and currency have been misguided by Anglo-Saxon non-law which never ceases to subvert all the concepts of Civil Continental Law backed by natural law, based on autonomous and sovereign Nations, which have made "European civilisation" . This regulatory principle, which there would be no question of calling "Law", aims to make commercial companies dependent solely on the objectives of the high finance, identified and disseminated by the WEF, which met in Davos at the same time of writing this text.

 

Conclusion

By way of conclusion, it is interesting to note the names of the FRENCH organisations which promoted the untimely and inopportune "society with a mission": in addition, of course, to the Parliament composed of "representatives of the people" always ready to betray national interests, we find the Collège des Bernardins, the Montaigne Institute from the AXA group, the School of Mines in Paris. A whole industrial-financial program under the aegis of a Catholicism which has denied both its initial principles and the continental law of which it was the origin.

 

Behind the scenes of the "mission society", we find the vast program of the disappearance of free will, of the subversion of our State, our Law and our sovereignty, by categorical interests, which have become supranational, relayed by international organisations. such as the WEF and the UN.

 

Valérie Bugault

https://www.legrandsoir.info/la-societe-a-mission-antithese-de-la-participation.html 

 

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of lending.....

How China Is Breaking The Colonial Effects Of Western Lending

In their latest Geo Economical Report economists Radhika Desai and Michael Hudson discuss Russia's move away from the 'West'.

The points on Russia are certainly interesting. But they also remark on the tussle between China and 'multilateral' international lenders about debt forgiveness. This is a theme that played out in Washington DC last week during a high-level sovereign debt roundtable on the sidelines of the World Bank and International Monetary Fund Spring meetings in Washington.

In their talk Radhika Desai explains the basic problem with international debt:

RADHIKA DESAI: Well I think that the whole issue of debt, world debt in particular, has become a really important issue at this point, and it’s become an important issue because precisely now China is such a large part of the scene.

I remember going back to the earliest days of the pandemic when Third World debt had also figured as a major issue. Already at that point, the key reason why the debt issues were not going to be settled is because the West could not come to terms with the fact that it had to deal with China, and that it had to deal equitably with China.

Because what the West wants to do is precisely to get China to refinance the debt owed to it so that Third World debt repayments go to private lenders.

And China is basically questioning the terms of all of this, because for example China is saying, “Why should the IMF and the World Bank have priority? Why should its debt not be canceled?”

And the West is saying, “But this has always been so.”

And China is saying, “Well, if you don’t want to reform the IMF and the World Bank, then we are not going to accept their priority. If we have to take a haircut, they will also have to take a haircut.

They simply do not accept that these institutions, the Bretton Woods institutions, have any sort of priority.

And this is part of the undermining, as you were saying. This is one of the biggest changes since the First World War. And part of these changes is that the world made at the end of the Second World War by the imperialist powers, who are still very powerful, is now increasingly disappearing.

On Wednesday a Reuters report claimed that China was changing its stand on the issue:

WASHINGTON (Reuters) - China is expected to drop its demand for multilateral development banks to share losses alongside other creditors in sovereign debt restructurings for poor nations, removing a major roadblock to debt relief, a source familiar with the plans said.

The development is expected at a high-level sovereign debt roundtable on Wednesday on the sidelines of the World Bank and International Monetary Fund Spring meetings in Washington.

Beijing would no longer insist multilateral lenders take “haircuts” on loans to poor countries, the source said on Tuesday, while the IMF and World Bank agreed to ensure their debt sustainability analyses of countries undergoing debt restructurings would be made available to Chinese authorities earlier in the process.

The rumor that China would change its principle position turned out to be wrong. Reutersbeing abused by anonymous sources to make politics is not unusual. But in this case the piece came with a picture of U.S. Treasury Secretary Janet Yellen so its likely that she was the "source familiar with the plans" which pushed this false rumor.

As the New York Times reported yesterday in way too many misleading words the issue was not resolved:

WASHINGTON — China, under growing pressure from top international policymakers, appeared to indicate this week that it is ready to make concessions that would unlock a global effort to restructure hundreds of billions of dollars of debt owed by poor countries.

China has lent more than $500 billion to developing countries through its lending program, making it one of the world’s largest creditors. 
...
The United States, along with other Western nations, has been pressing China to allow some of those countries to restructure their debt and reduce the amount that they owe. But for more than two years, China has insisted that other creditors and multilateral lenders absorb financial losses as part of any restructuring, bogging down a critical loan relief process and threatening to push millions of people in developing countries deeper into poverty. 
...
Ghana appealed to the Group of 20 nations this year for debt relief through a fledgling program known as the Common Framework after securing preliminary approval for a $3 billion loan from the I.M.F. That money is contingent on Ghana’s receiving assurances that it can restructure the approximately $30 billion that it owes to foreign lenders. Officials from Ghana have been meeting with their Chinese counterparts about restructuring the $2 billion that it owes China. 
...
Wang Wenbin, a spokesman for the Chinese Foreign Ministry, said on Friday that China had put forward a three-point proposal that included calling for the I.M.F. to more quickly share its debt sustainability assessments for countries that need relief, and for creditors to detail how they will carry out the restructurings on “comparable terms.”

The three point proposal is not a change but simply a repeat of China's long standing position:

Spokesperson发言人办公室 @MFA_China - 15:09 UTC · Apr 14, 2023

To effectively resolve the debt issue, the key lies in joint participation of multilateral, bilateral and commercial creditors under the principles of joint actions and fair burden-sharing.

The case of Ghana shows that the IMF, over which the U.S. has a veto, will only lend fresh money if bilateral lenders like China, but not the 'multilateral' IMF or World Bank, nor private 'western' lenders, take haircuts.

A long People's Dispatch piece about the IMF and Ghana's debt crisis describes how the debt spiral is hitting the poor but resource rich countries again and again. The debt is a continuation of colonialism and China has little to do with that:

Based on the World Bank’s International Debt Statistics, 64% of Ghana’s scheduled foreign currency external debt service, which includes principal and interest amounts, between 2023 and 2029 is to private lenders. 20% of the debt is to multilateral institutions and 6% to other governments. Notably, while mainstream reporting on Ghana’s debt scenario tends to emphasize China as the country’s “biggest bilateral creditor,” only 10% of Accra’s external debt service is owed to Beijing.

Approximately $13 billion of Ghana’s external debt is held in the form of Eurobonds by major asset management corporations including BlackRock, Abrdn, and Amundi (UK) Limited. “Ghana’s lenders, particularly private lenders, lent at high-interest rates because of the supposed risk of lending to Ghana,” the open letter read.

“The interest rate on Ghana’s Eurobonds is between 7% and 11%. That risk has materialized… Given that they lent seeking high returns, it is only right that following these economic shocks, private lenders willingly accept losses and swiftly agree to significant debt cancellation for Ghana.”

In 2020 the G20 promised to implement a Common Framework for debt relief:

[T]he Common Framework had the opportunity to provide a broader debt cancellation, involving private creditors alongside bilateral lenders in the process to ensure that countries’ debts became sustainable.

“But very little was done to outline the details of how that would work. While the G20 stated that government and private lenders would be included in the scheme, however, multilateral lenders were excluded,” [Tim Jones, the head of policy at Debt Justice,] said.

“They did not give any new mechanisms to countries to negotiate a reduction in their debt owed to private creditors, leaving it to the debtor governments to say ‘If you want debt cancellation from governments, you have to negotiate the same deal from private creditors.’ But they did not offer any tools to help indebted countries to do that.”

There should of course be a mechanism by which countries can restructure their debt and in which all lenders make similar concessions. However the IMF and others offer no such thing. They are only willing to give more money when a country makes political concessions over IMF prescribed austerity measures and uses the fresh money to pay private 'western' lenders.

China is now determined to end that scheme. China insists that the IMF, the World Bank and private lenders take a similar share of debt losses as it is willing to take:

China is willing to implement the common framework for debt disposal with other countries, China's central bank governor Yi Gang said during the World Bank and International Monetary Fund (IMF) spring meetings, according to a statement released by the People's Bank of China on Friday.Echoing Yi's remark, Chinese Foreign Ministry spokesperson Wang Wenbin said at a press conference on Friday that China attaches great importance to the sovereign debt issue of developing countries and called for multilateral creditors, bilateral creditors and commercial creditors to participate in debt handling in accordance with joint action and fair manner.
...
"China has contributed more than anyone else to implementing the G20 Debt Service Suspension Initiative (DSSI). Besides, we have played a constructive part in the treatment of individual cases under the G20 Common Framework," Wang said. 
...
In contrast, Western creditors claim they need to maintain their credit rating and have thus refused to be part of the debt relief and service suspension effort, Wang said, noting that unprecedented massive interest rate hikes have led to tightening of financial conditions worldwide, making the severe debt problems of certain countries even worse.

China continues to press for its new scheme of international debt relief under equal terms for all lender. I am not ware of any pressure point the 'West' could use to change that position.

The IMF and its abusive role in global debt was likely a subject matter in the hours long talks Presidents Xi and Putin had in Moscow last month. Lets remember what was said at the end of that visit:

“Right now there are changes – the likes of which we haven’t seen for 100 years – and we are the ones driving these changes together,” Xi told Putin as he stood at the door of the Kremlin to bid him farewell.

The Russian president responded: “I agree.”

As Radhika Desai, quoted above, said about China's debt relief standpoint:

This is one of the biggest changes since the First World War.

Michael Hudson summarizes the consequences:

Well obviously, the one thing the characterizes the new global World Majority order is a mixed economy where other countries will do what China has done. They will make money and land, meaning housing, and employment into public rights and public utilities instead of commodifying them and privatizing them and financializing them as has occurred in the West.

So we’re really talking about, in order to move away from the dollar-NATO-sphere, we’re not really talking about just one national currency or another.

It’s not going to be a question of the Chinese yen and the Russian ruble and other currencies replacing the dollar. It’s a whole different economic system.

That’s the one thing that is not permitted in the mainstream media to discuss. They’re still on the “There Is No Alternative” Margaret Thatcher slogan, instead of talking about: What is the alternative going to be?

Because obviously things cannot last the way they are now.

Posted by b on April 15, 2023 at 17:30 UTC | Permalink

READ MORE:

https://www.moonofalabama.org/2023/04/how-china-is-breaking-the-colonial-effects-of-western-lending.html#more

 

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spasiba....

The construction of the current multipolar world is taking place in all areas of our civilization. The BRICS group (Brazil, Russia, India, China and South Africa) is an anchor point, one of the cornerstones on which the Light Forces rely to transform our world. And to do so, exceptional men, steeped in experience and talent, in their field of competence, in various countries, are at work, before our eyes. It seems to me that the Russian Minister Sergei Lavrov is one of them, hence the clear vision of the Russian President, Vladimir Putin, to keep him in this post, Minister of Foreign Affairs of the Russian Federation for many years: "we don't change the winning team!" Sergei Spasiba Bolshoi!

 

READ MORE: https://soleilverseau.com/2023/04/19/serguei-lavrov-le-diplomate-le-plus-cool-de-la-planete/

 

 

 

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banking with dilma....

Thursday morning April 13, 2023, Dilma Rousseff, the former President of Brazil, officially took office as President of the New BRICS Development Bank. It was during an inauguration ceremony in Shanghai, China. Current Brazilian President Luiz Inacio Lula Da Silva, who arrived in Shanghai on Wednesday evening for a four-day state visit to China, was also present. Dilma Rousseff promised that the bank would support developing countries to meet their economic, social and environmental needs.

 

READ MORE:

https://soleilverseau.com/2023/04/18/dilma-rousseff-devient-la-presidente-de-la-nouvelle-banque-de-developpement-des-brics/

 

 

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soft laws failures....

Soft law produced in the counter-terrorism arena inadequately addresses formal human rights obligations of States. In general, these norms do not undergo meaningful human rights scrutiny. Moreover, counter- terrorism norms often employ only the standard phrase, “in compliance with international law, including human rights, humanitarian and refugee law,” instead of substantive human rights content. In general, there is nothing about specific impingements on human rights, how they are to be minimized, and what law and obligations guide States to that end.

These human rights gaps are then formalized when soft law norms are referenced and endorsed in documents produced by the UN entities, such as the Security Council. This result is particularly harmful as weak norms can lead to serious human rights violations undermining security for all. Security and human rights are fundamentally entwined and co-dependent. Security without human rights protections is only an illusion. Human rights violations do not make the world safer or more secure, they undermine the security of all.

 

READ MORE:

https://www.ohchr.org/sites/default/files/Documents/Issues/Terrorism/SR/UNSRCTbrieferSoftLaw.pdf

 

 

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