"America the Beautiful: A Fire Sale for Foreign Corporations" on the Trans-Pacific Partnership (TPP) [View all]

[WilliamPitt]

America the Beautiful: A Fire Sale for Foreign Corporations
By Dr Brian Moench
Truthout | News Analysis

Tuesday, 10 July 2012

This may be one of the most important stories ever ignored by the so-called "lame stream, liberal" media. It's unlikely you're losing sleep over US trade negotiations, but the unfolding business agreement among the US and eight Pacific nations -the Trans-Pacific Partnership (TPP) - should cause every US citizen, from the Sierra Club to the Tea Party to get their pitch forks and torches out of the closet and prepare to "storm the Bastille."

The TPP negotiations have been going on for two years under extreme secrecy, no information has been made available to either the press or Congress about the US position. But on June 12, a document was leaked to the watchdog group, Public Citizen, revealing the current US position and the reason for the secrecy. The contents are surreal, shocking and prima facia evidence for how corporations have become the master puppeteers of our government.

The leaked document reveals that the trade agreement would give unprecedented political authority and legal protection to foreign corporations. Specifically, TPP would (1) severely limit regulation of foreign corporations operating within US boundaries, giving them greater rights than domestic firms; (2) extend incentives for US firms to move investments and jobs to lower-wage countries; and (3) establish an alternative legal system that gives foreign corporations and investors new rights to circumvent US courts and laws, allowing them to sue the US government before foreign tribunals and demand compensation for lost revenue due to US laws they claim undermine their TPP privileges or their investment "expectations."

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Residents of the West should be particularly alarmed. TPP would allow the plunder of our natural resources by foreign corporations allowed to bypass US law. Disputes over Western land contracts for mining and timber, for example, would be settled by international tribunals. Even if you are oblivious to environmental concerns, you should be outraged at the total circumvention of national sovereignty. Foreign investors could bypass our legal framework, take any dispute to an international tribunal and pursue compensation for being denied access to our resources at fire-sale prices - with much of the West on fire as we speak.

Much more: http://truth-out.org/news/item/10195-america-the-beautiful-a-fire-sale-for-foreign-corporations