Welcome to illuminati silver, we tell you the truth about silver.
Today is Saturday 15th October 2016 and we are providing a brief summary of what the
The Trans-Pacific Partnership or TTP actually is and some of its consequences.
The TTP originally began with the P4 trade agreement between just four nations - Brunei,
Chile, New Zealand and Singapore - that came into effect in 2006.
That agreement removed tariffs on most goods traded between the countries, promised to
cut more and also to co-operate on wider issues such as employment practices, intellectual
property and competition policies.
The latest proposal involves 12 countries: the US, Australia, Brunei, Canada, Chile,
Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam and was signed on 4th
February of this year.
These 12 countries have a collective population of about 800 million - almost double that
of the European Union's single market.
The 12-nation would-be bloc is already responsible for 40% of world trade.
The pact aims to deepen economic ties between these nations, reducing tariffs and fostering
trade to boost growth.
Member countries hope to develop a closer economic and regulatory union creating a new
single market similar to that of the EU.
Most goods and services are included in this Agreement and some 18,000 trade tariffs are
also affected.
Tariffs on US manufactured goods and almost all US farm products will go almost immediately
once the deal is ratified.
It is also planned to either eliminate or reduce tariffs and other restrictive policies
from agricultural products and industrial goods in time.
Tariffs on textiles and clothing will also be removed.
The TPP Agreement runs to some 30 chapters, but its core essence is free trade between
Member States.
Supporters argue that the agreement will create a trade zone with lower tariffs — or taxes
— for the 12 Pacific member nations.
The US has other interests in passing the TPP; new markets would open to American exporters
and intellectual property rights would be better protected across borders.
Opponents of the TPP, including labour organizations, say this new trading alliance would allow
American firms to more easily move jobs overseas to take advantage of cheap, foreign labour.
Or, conversely, American employers could keep jobs here in the US, but at lower wages.
Others also claim it paves the way for companies to sue governments that change policy on,
say, health and education to favour state-provided services.
Concerning for many is a chapter on intellectual property covering copyright, trademarks, and
patents.
These concerns include Digital Policies that Benefit Big Corporations at the Expense of
the Public: The IP chapter would have extensive negative ramifications for users’ freedom
of expression, right to privacy and due process, as well as hindering peoples' abilities to
innovate.
Other chapters of the agreement encourage your personal data to be sent across borders
with limited protection for your privacy, and allow foreign corporations to sue countries
for laws or regulations that promote the public interest.
As already mentioned, the text of the agreement was signed on the 4th February but has to
now be ratified by all 12 signatories.
To take effect, the deal has to be ratified by February 2018 by at least six countries
that account for 85% of the group's economic output.
And this means that Japan and the US will need to be on board.
President Obama is urging Congress to ratify the TPP before he leaves office.
There are many other aspects to this Agreement which makes it difficult to include in a short
video such as this.
Needless to say, the issue is highly controversial and should loom large in this election campaign,
if it were not for the gutter politics to which it has descended.
Trump has said though that he is against the Agreement and Clinton, having originally claimed
that it was of ‘gold standard’, appears to have backtracked somewhat on this.
What are your thoughts?
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Disclaimer:
Illuminati Silver owners come from a background of Banking, International Wealth Management
and Economics.
Having now retired from these worlds we are not qualified to give investment advice.
Therefore, this and other productions must not be deemed to be giving such advice and
merely represent the personal views of its owners.