http://www.bloomberg.com/…

Oct. 10 (Bloomberg) — Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world’s financial markets while they “rewrite the rules of international finance.”

“The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,” Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis “can’t just be for one country, or even just for Europe, but global.”

The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi’s remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.

Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis “in coming days,” he said.

Berlusconi didn’t give any details about what kind of rules leaders were looking to change, except to say that leaders are “talking about a new Bretton Woods.”

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.

A market holiday is bad enough… but a new monetary system is huge. The UK was king prior to WWII. Since it’s been the USA. Will the dollar continue to rule? Just about every currency is having problems. I’m really at a loss for what they would change. Perhaps an international currency?

http://www.cato-at-liberty.org/…

The bureaucrats at the European Commission are still upset that Irish voters had the gall to reject the statist EU Constitution (even though it was repackaged as the Lisbon Treaty in an attempt to deceive voters). A private European Commission memo circulating in Brussels was obtained by the Irish Times, which notes that the bureaucrats are particularly upset with private media outlets, which refused to act as lapdogs for the Commission’s propoganda campaign:

In a private briefing document circulated by the [European] commission in Brussels, it warned that Ireland’s “changing media landscape” between 2002 and 2008 has implications for public opinion about the European Union. …”There is a shift away from the State news radio and TV stations. This means that the quality of debate has suffered. Commercial radio and local radio are increasingly important to reach - and their style is different from the old State broadcasters,” it said. …The development of a conservative religious press since the second Nice Treaty is particularly noted by the commission… Though the circulation of ALIVE!, which targets conservative, older readers, is unknown, the paper claims that 365,000 copies a month are handed out, the commission briefing went on.

Not surprising. We know they wish to subvert the people.

http://www.cato-at-liberty.org/…

Europe’s political elitists are not very happy with the unwashed masses. First, French and Dutch voters had the unmitigated gall a couple of years ago to reject the European Union’s proposed constitution. In an effort to sidestep the democratic process, the political elite then made a few cosmetic changes to the document and called it a treaty, hoping this would enable national governments to bypass their voters. Much to their chagrin, however, Irish politicians could not figure out how to sidestep their nation’s referendum requirement, and the people of the Emerald Isle proceeded to reject the statist EU constitution (now officially referred to as the Lisbon Treaty). This led to a frenzy of anti-democratic utterances from the political class, but the prize for the most Orwellian response goes (what a surprise) to a French politician, who just stated that allowing voters to decide is “a tool for dictators.” He also wins a secondary prize for his assertion that the EU constitution, which would have granted even more power to undemocratic bureaucratic institutions in Brussels, is needed “to grant our citizens more power.” The Irish Times reports:

Alain Lamassoure MEP tells Jamie Smyth , European Correspondent, Ireland was wrong to hold a referendum, which is ‘a tool for dictators’. …”We are paralysed by the unanimity rule and we pass legislation through undemocratic procedures . . . we have a duty to grant our citizens more power,” he said.

Get ready for the same type of response from the US, Mexican and Canadian subjects when the North American Union get publicly underway. War is peace; oligarchy is democratic republic; slavery is freedom.

http://entertainment.timesonline.co.uk/…

THEIR high-pitched skirl has put fear into the hearts of Scotland’s enemies and sent sensitive tourists reaching for the cotton wool.

Now, however, the bagpipes are to be quietened by an edict from Brussels.

From this month, pipers must adhere to strict volume limits or risk breaking European Union health and safety laws. Bands have been ordered to tone down or wear earplugs to limit noise exposure to 85 decibels.

Pipe majors claim it is virtually impossible to play quietly or to tune a band when the musicians are wearing earplugs, raising the prospect of a cacophony at showcase events such as the Edinburgh military tattoo.

“You can’t play the pipe quietly; they haven’t got a volume switch.”

The rules are part of the control of noise at work regulations, introduced by the Health and Safety Executive (HSE) following a Brussels directive.

The rules cap weekly average noise exposure at 85 decibels, meaning periods of loud play need to be cancelled out by quiet periods. The idea is not to protect audiences at concerts but performers and other staff.

Ian “Lemmy” Kilmister, lead singer of Motorhead, the heavy metal band, said he would resist any attempt to force him to turn down the music.

“The essence of rock’n'roll is loud music,” he said. “How the hell can we be expected to enjoy ourselves if we’ve got to turn it down?”

I’ll really enjoy seeing the officials enforce this on the metal and punk bands. They could end up with riots or the bands just won’t play in the EU any longer. If these people wish to wear ear protection they will. They are fully aware of the damage loud music can cause.

http://www.thesun.co.uk/…

CROOKED MEPs are trousering cash meant for workers’ wages, it was revealed yesterday.Some hire “ghost” staff - then claim thousands of pounds from the £100million annual allowance. Others recycle the handout by employing unqualified relatives, a bombshell report on MEPs’ expenses found. In many cases the whole £125,000 allowance is paid to just ONE person on the staff. One assistant received a “Christmas bonus” worth 19 TIMES their monthly salary. Taxpayers’ money is also being diverted to party funds, with the internal probe describing the corruption as “massive and widespread”. Brussels had wanted to cover up the abuse - but EU fraudbusters have demanded a copy of the report. Last night Lib Dem MEP Chris Davies - one of a handful of people who have seen the audit - called it “dynamite”. He said: “The allegations should lead to the imprisonment of a number of MEPs. It’s embezzlement and fraud on a massive, massive scale.” All 785 Euro MPs - including 78 Brits - are entitled to about £125,000 a year for staff, as well as a £62,000 yearly salary and lavish expenses. But spot checks on 167 MEPs found many employee payments for 2004 and 2005 were not being properly accounted for. The scandal eclipses the case of Tory MP Derek Conway, who last month was exposed for paying his sons thousands for doing virtually nothing. Mr Davies said it made the Conway affair “look like small change” and called for the findings to be released to the public. The report is a closely-guarded secret and only MEPs on the budget control committee have been allowed to see it. An EU Parliament source hinted at a cover-up, saying: “We cannot make this report available to the public if we want people to vote in the European elections next year.” A spokesman for the Parliament claimed: “The document is not secret - it is confidential.”

The article speaks for itself.