Analyst's note:  Absolutely must read and carefully consider.  I really don't make this stuff up people.  We have here yet another progressive (socialist) tactic to negatively impact the American national economy and thus reduce our national security as we lose more and more of our national sovereignty to a one-world government concept. 

Yet another item that we all must watch doesn't occur.  "Among the many reasons why the U.S. should not accede to the U.N. Convention on the Law of the Sea (UNCLOS) is the reality that it would expose the United States to international environmental lawsuits that would harm its environmental, economic, and military interests. Having failed to impose their agenda on the U.S., climate change alarmists and other environmental activists are preparing the legal ground and claimants to sue the U.S. if it joins UNCLOS. Even the threat of such suits or failed suits will affect the U.S. by imposing unnecessary legal and political costs. The best option for the U.S. is simply not to open the door to such frivolous lawsuits."

"O'Neill's BRICs Risk Hitting Wall Threatening G-20 Growth ... Even Jim O'Neill is asking whether the BRICs need reinforcing 11 years after he coined the term to describe the world's future powerhouse economies. O'Neill, chairman of Goldman Sachs Asset Management, says his thesis that Brazil, Russia, India and China would together increasingly buoy the global economy faces "a more challenging test" as investors dump the countries' stocks ... Leaders attending next week's Group of 20 summit in Mexico are already expressing concern, with Brazilian President Dilma Rousseff warning June 4 that emerging markets can't carry the weight of the world on their shoulders. Rich-nation policy makers "are so wrapped up in their own problems they're praying some of this weakness is just temporary in the BRICs," London-based O'Neill, 55, said in a telephone interview. "If it's not, then it's pretty worrying." – Bloomberg

[....] Free-Market Analysis: There is surely a power elite that is trying to drive the world into depression. We would tend to believe it is succeeding. This latest squawk from Goldman Sachs is testimony to that.

[....]  The world is as it is. Europe's crisis is not resolved. The US is mired in a terrible "recession" and the weakness of the BRICs shall likely only continue and expand.

Absent a tremendous reflation – that will only shove the problem down the road – the world seems headed for depression. O'Neill can continue to make the argument that the BRICs shall provide a powerful economic breakwater. We'd argue it has already sprung leaks.

Conclusion: And unfortunately, those leaks are likely to turn into torrents."

Please take a look in the material below at some of those who are supporting the implementation of this proposed activity by the Obama Administration. This is all yet more evidence of the systemic problem with this administration.  Progressive (socialist) politics is being put before our nations security.

"Former Defense Secretary Donald Rumsfeld urged U.S. senators to reject the Law of the Sea Treaty backed by the Obama administration because it would force rich countries to give to poorer ones.

“I do not believe the United States should endorse a treaty that makes it a legal obligation for productive countries to pay royalties to less productive countries, based on rhetoric about the common heritage of mankind,” Rumsfeld said today in testimony before the Senate Foreign Relations Committee.

The Obama administration says ratifying the 30-year-old treaty is key to exerting U.S. influence in the Asia-Pacific region, a focus of the revamped global strategy the Pentagon presented in January. Rumsfeld’s position puts him at odds with President Barack Obama and also former President George W. Bush, whom Rumsfeld served as secretary of defense for six years.

He resigned in 2006 amid a political backlash against the wars in Iraq and Afghanistan.

Rumsfeld, 79, said in his testimony that a system of royalty payments under the United Nations treaty compels countries such as the U.S. to make payments to developing countries without making their own “sovereign choice.”

Secretary of State Hillary Clinton, Defense Secretary Leon Panetta and Joint Chiefs of Staff Chairman General Martin Dempsey all appeared before the Senate panel last month, urging ratification of the treaty. The administration says the accord is needed to counter China and maintain influence in Asia.

[....] The U.S. Chamber of Commerce supports the treaty, as do companies including Lockheed Martin Corp. and Exxon Mobil Corp. Business supporters say the treaty offers a stronger legal foundation for activities such as offshore oil drilling, metal harvesting and undersea cable operations.

Rumsfeld’s criticism centered on the treaty’s creation of an International Seabed Authority that would be involved in commercial activity in international waters, including mining and gas exploration.

The U.S. would have to transfer to the authority a big share of all royalties generated by U.S. companies. He said the system could set a precedent for outer-space resources in the future. [....]"