Most people have never heard of it. They’re not told how they’re systematically deceived, lied to and swindled. There’s nothing fair about US free trade agreements. In June 2014, WikiLeaks released a secret TISA Financial Services Annex text covering 50 countries and over two-thirds of world trade in services.
It aims for deregulating global financial services markets more than already. It allows unrestricted exchange of personal and financial data. At the time, Global Trade Watch director Lori Wallach said:
“If the text that was leaked today went into force, it would roll back the improvements made after the global financial crisis to safeguard consumers and financial stability and cement us into the extreme deregulatory model of the 1990s that led to the crisis in the first place and the billions in losses to consumers and governments.”
“This is a text that big banks and financial speculators may love but that could do real damage to the rest of us.”
“It includes a provision that is literally called ‘standstill’ that would forbid countries from improving financial regulation and would lock them into whatever policies they had on the books in the past.”
A leaked February 2015 TISA text reveals updated provisions even worse than last year’s draft. The Electronic Frontier Foundation (EFF) calls the Trans-Pacific Partnership (TPP), Trans-Atlantic Trade and Investment Partnership (TTIP) and TISA “a trifecta of trade agreements (Obama) could sign under Fast Track without full congressional oversight” if authority to do so is granted.
TISA is another nightmarish anti-consumer measure. It mandates global rules affecting Internet use and other “free flow of information” restrictions.
Copyright © Stephen Lendman, Global Research, 2015