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    Archive for December 3rd, 2019

    Repeal the World Trade Organisation (WTO) !

    Posted by Ivo Cerckel on 3rd December 2019

    The URLs appear as “clickable” in the copy of this post in response # 1 under this post..

    Brussels hits out at WTO over Airbus-Boeing battle
    Commission accuses trade body of ‘errors’ in judgment handing victory to Washington
    Peggy Hollinger in London and Sam Fleming in Brussels

    The FT seems to be hesitating before publishing my comment as “village idiot”. So here it is.


    Free trade requires honest money.

    At Bretton Woods in 1944 both the General Agreement on Tariffs and Trade , GATT, the precursor to the WTO, and the IMF were created.
    The IMF’s only function was to maintain Bretton Woods.
    On 15 August 1971, USA president Nixon broke Bretton Woods.

    Since then, the IMF has thus no more reason to exist. If the IMF continues exist, this is as a pimp of the dollar regime.

    As of that date, the GATT could no longer function. Its 1995 successor, the WTO. could thus never function.

    The Economist reported last week-end that the USA, refuses to send one of its girls to the WTO’s appellate body , one of whose decisions is the subject of the article above.

    In a tweet, 8 hours ago, The Economist was wondering whether
    The Economist
    Had the WTO handled China’s rise more effectively, voices in its defence might be louder in Washington

    Is it up to the WTO to do that? Can the market not do that better – without lengthy negotiations leading nowhere? What’s the use of the WTO without Bretton Woods which Nixon broke in 1971?

    Repeal the WTO now.

    Come and join this idiot on 27 February 2020 in Hong Kong at the Economist’s Asia Trade Summit where several WTO bureaucrats will be speaking.

    Manu Macron Europe-Kaput Statement and The Economist 27 February 2020 Asia-Trade Summit

    more coming on my blog

    Or did the appellate body give a decision in the USA’s favour in order to convince the IMF pimp to still send one of his girls to the appellate body?

    Or what did Politico says this week-end?

    EU rebels fight Commission plan to build WTO court without America
    One diplomat said the plan risked ‘pushing the Americans over the final edge.’
    11/28/19, 1:33 PM CET
    Updated 11/30/19, 7:36 AM CET

    The ultimate joke is that Peter Van den Bossche who retired last May from said appellate body argues that international trade has to be managed (Peter Van den Bossche and Denise Prévost, “Essentials of WTO Law”, Cambridge UP, 2016, p. 2)
    and even added in his farewell address last May that this could be done in accordance with the rule of law https://wto.org/english/tratop_e/dispu_e/farwellspeech_peter_van_den_bossche_e.htm

    But these rules should result from negotiations which never lead to anything. So these rules don’t exist, which explains the article.

    Come and join this idiot in Hong Kong on 27 February 2020 at The Economist Asia Trade Summit in the JW Marriott hotel.

    If the rule of law existed in WTO case-law, the EU would never have been able to complain of this decision in favour of the USA.

    Ivo Cerckel

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