The Truth About The Euro Crisis and The Occupy Wall Street Movement

I don't endorse all the views of David Icke, but I must say that this video is first class.

The Occupy Wall Street Movement is in grave danger of being hijacked by the very forces that they profess to be fighting. If you sympathise with them, or even if you don't, then this video is one you just have to see.

 

“Global Elite” Tighten The Screw

This article was first posted on 27th March 2009.

Since the start of the economic crisis in 2007 it has sometimes been puzzling to commentators such as myself as to why some huge banking corporations have allowed themselves to get into a situation that has led to them becoming insolvent.

Huge, international banks like Goldman Sachs, Deutsche Bank, Merrill Lynch, RBS, Morgan Stanley, Bank of America, Barclays, Lloyds and Lehman Bros, to name just a few, have either gone completely or are now dependent for their continued existence on injections of bail-out cash from the already bankrupt US and UK governments. That's an anomaly if ever there was one, but let's continue on this track for the moment.

These rotten, corrupt institutions that have traded in debt and human misery for so long are the vital money-power arm of the "global elite", the existence of which is always denied by politicians and journalists but has been frankly admitted by David Rothkopf in his book, "Superclass" (available from Amazon). I cannot recommend strongly enough that you buy and read this book. It will forever lift you away from the make-believe world that the media would have you believe in and let you in on the real world of power politics.

Even though it is written from the smug, self-satisfied viewpoint of an "insider" who thinks the "global elite" have a right to enrich themselves and amass absolute political power over the whole world, nevertheless this is a book that reveals some of the shady, evil characters and organisations that are working tirelessly to enslave the rest of us into a worldwide gulag from which there can be no escape other than death. Unless, of course, you happen to be very rich, and even then you'll have to obey the rules or face the consequences. It should be compulsory reading for anyone intending to go on to further or higher education.

But back to the main point. The puzzling thing about the credit crunch has always been this - why would the super-rich global elite put their financial institutions on the line and let some of them go broke? They must have been aware of the "sub-prime mortgage" scam early on. In fact they probably started the whole process in the first place. So why did they let themselves lose some of their financial vehicles altogether, and put many of the remaining ones at the mercy of various cobbled together "bail out" plans?

The truth about this aspect is now beginning to surface. But before I come to it, let me explain what I believe has been happening behind the scenes. The global elite decided to take a major step towards consolidating their hold on the economies of all countries. They also at the same time wanted to rid themselves of what they deemed was too much competition in the financial markets, especially in the US, where there have historically been hundreds of small, independently owned banks.

Now it's true that all these small, independent banks in the US are controlled by the Federal Reserve System and regulated as to how much of their capital they can loan out to customers and at what rates, and so on. But nevertheless the elite decided that they didn't want them around any more.

The majority of these independently owned banks have, amazingly, been run prudently, even over the last few years when huge Wall Street banks have been falling over themselves to lend fictitious money to people and institutions that had no chance of ever repaying it, and buying expensive packages of toxic loans. These small banks, for the most part, carried on "business as usual", and refrained from copying their irresponsible larger counterparts.

You would think that these small banks would now be in a very strong position. They have proved their worth and their business acumen in managing to keep out of the train wreck that the large, international banks have caused. And indeed they should be in a strong position. But in this insane world in which the global elite have very nearly total power, these prudent banks are about to be obliterated. This is exactly what the global elite want, so let's see how they've managed to engineer it.

All the politicians and media people tell us that we just have to save the big banks and the financial system at all costs. No bail-out package is too expensive because the alternative to saving these financial institutions is unthinkable. That's what we're supposed to believe. So we've had one bail-out package after another (none of which will do the slighted good to the ordinary citizen or to productive industry) and the amounts involved have been just enough to keep most of the big banks in existence. Those that have gone, such as Lehman Bros, I believe were expendable to the money power. Besides, one or two banks had to be sacrificed just to show the public and governments that the situation was serious enough to justify all those billions being pumped into the system.

But there was not quite enough bail-out money to save some of the banks, and this was quite deliberate. The American insurance giant, AIG, was among the institutions that received billions of tax dollars, and much of this money went straight to the big banks that were in trouble and who had insured various deposits and financial deals that went bad. Now AIG isn't the only institution that insures deposits at banks. The other such body is the FDIC, the Federal Deposit Insurance Corporation.

The FDIC insures the deposits of millions of ordinary Americans at their banks. If a bank were to become insolvent the FDIC would pay out any losses to depositors. But many of the customers of the FDIC are Wall Street banks that have become insolvent through their own recklessness. The claims that the FDIC is now facing are so huge that it would itself have to close its doors, and if that happened, and millions of Americans lost all their savings, there would be a danger of widespread public outrage, hunger, famine and even blood on the
streets.

But the FDIC is not favoured when it comes to bail-out help from the taxpayer. What it has to do, therefore, in order to cover its liabilities, is to massively increase the premiums that all banks pay each year to be covered against the risk of failure. The big Wall Street banks will be able to cover this, thanks to their trillion-dollar hand-out from the US government's printing presses (via the Federal Reserve loan system, of course), but what about the smaller, well-run banks in middle America?

They simply won't be able to pay the surcharge demanded of them. Most, perhaps all, will have to close their doors and face being taken over by - guess who? Yes, the big Wall Street banks that behaved so recklessly over the several years leading up to the credit crunch.

This, when it happens, will be just another example of logic being turned on its head to suit the money power, the financial arm of the so-called "global elite". They will then have tighter control over the finances of millions more ordinary Americans. And we should all know by now what that will mean . . .

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Have you downloaded and read "Promise To Pay" yet? Written by Dr R. McNair Wilson in the early 1930s, at the time of the Great Depression of the twentieth century, it will show you in straightforward language how the banking systems of the western world are a racket, used by the money power / global elite to amass wealth and power for themselves at the expense of everyone else. Go to our home page now to download.

And then . . .

Spread the word.

Philip Gegan

 

 

Just Who Is It Lending All This “Money”?

This post was originally published on 20 February 2009.

The notion of having our economies based on debt has been around for hundreds of years, perhaps longer. Here in the UK we had it foisted on us in 1694, when the Bank of England was established to lend the government of the day £1.2 million to help finance the perennial wars against France.

The chief architect of this system at that time was someone called William Patterson, whose motto was "Thus you labour, but not for yourselves". In other words, "You do all the labour, and I'll receive the rewards". Such arrogance is breathtaking.

Soon the government found that it actually owed not £1.2 million, but £20 million, and then £30 million, and a few years further on it topped £100 million. This became known as the National Debt which, like the poor, is always with us. Because successive politicians who aspired to government learned that this was the way to raise money needed by the government.

"Every Loan Creates A Deposit"

Sure, they sold government bonds to the public as well. But the vast bulk of government debt, or "gilt-edged securities", were bought up by private bankers and the Bank of England. And how did they get the money to lend to the government? Well, since "every loan creates a deposit" under the topsy-turvy laws of banking, the very fact that the government owed them more money provided the "capital" for the money lenders to be able to lend out even more (and collect the interest and stipulate terms).

So the power and influence of finance, and, later, international finance, over the affairs of nations grew like a cancer. And now, in the UK, it has just been announced by our Office of National Statistics that the National Debt, having been just over half a trillion pounds only a few months ago, has now topped £2 trillion.

That's two thousand billion pounds, or £2,000,000,000,000. It's a figure that few of us can even imagine. And to pay it back we would have to hand over all our Gross Domestic Product for several years. Even if that were possible in terms of all of us foregoing all food, clothing, shelter, and other essentials, not to mention luxuries, we would run out of money long before the debt was repaid.

Even Worse In The US

In the United States the situation is if anything even worse. The National Debt of the United States is now around $65.5 trillion. That's about the value of its Gross Domestic Product for four years, or more than the whole of the wealth produced by the whole world in a year.

We all know instinctively that this just isn't right. Why should national governments, rightly answerable to the people every few years when elections come round, have to borrow the money they need (over and above what they raise by taxation)? Most people think that governments either issue their own money or control and own the Central Bank that merely does this as a task on behalf of the government.

But that's not the case at all. Although much has been made in the controlled media of the Federal Reserve, in the US, and the Bank of England, in the UK, "printing" money, that is really not the point. Of course some institution has to "print" money - it's a man-made invention. Tokens for the exchange of wealth, articles of value, and so on, to facilitate trade, are an essential commodity in any modern civilization.

All New Money Is Debt

Where the divergence takes place, between what most people think happens and what really happens, is how the newly created money is treated. And how it is treated is as a debt, owed to the shadowy figures who control the money system. They are the people to whom, under this racket, all this money is owed.

Of course only a tiny fraction of all this debt will ever be repaid (which makes the whole system all the more ridiculous). But, again, that is not really the point. The shadowy figures, the money power, or whatever you want to call them, are more concerned with power than with getting this "money" back. They only created the money out of thin air anyway (it's laughable to think they pretended to have a few hundred billion at a time lying about to lend out to governments in a financial crisis).

But it's the interest payments, running at an astronomical figure each year, and the power over governments, that international finance, and their lackeys among the global elite, thrive on.

This unelected, unaccountable elite create the credit by which we all are their debtors. If not on a personal level then as taxpayers, where our tax money is largely used simply to service these fictitious loans. Let's do all we can to expose this evil system and the shadowy figures who exercise such terrifying power for their own sinister ends, such as shown in this video of the famous film maker, Aaron Russo.

So . . . Spread the word!

Philip Gegan