Max Keiser: ….they (Goldman Sachs, JP Morgan et al) are systematically undermining the entire system. They are creating a mechanism to carve out equity and capital for themselves at the expense of society at large.
So in the United States, unemployment is skyrocketing. The uninsured is skyrocketing. The social fabric is coming unglued. You have riots all over the world…in Iceland and other countries due to this financial terrorism that was pre-meditated, on purpose and should be addressed as such.
There is a double standard. Why is the US pursuing so-called terrorists in nations like Afghanistan when they let these guys roam free on Wall Street? They’re the worst criminals of all – they do far more damage.
Interviewer: Let’s leave Afghanistan out of this…
Max Keiser: But why? It’s a great source of poppy and heroin which fuels a lot of these bankers bonuses. Let’s be frank about that.
“Why is the US pursuing so-called terrorists in nations like Afghanistan when they let these guys roam free on Wall Street?”
Sibel Edmonds and Valerie Plame exposed the link between the World Bank, Turkey, and Afghanistan. In today’s Doonesbury, he reveals more of the story. The poor Afghani get nothing. The warlords get a little. The Russian-Israeli Mafiya in Turkey get a lot, and so does the World Bank. It ain’t all that hard to figure out.
So a funny thing happened on Sunday.
1. I was reading Jim Willie’s last article “China: Partner, Adversary, Rebel.” http://news.goldseek.com/GoldenJackass/1238169622.php . His explanation for the US dollar rise during late 2008 (when reasonable people expected it to fall with US financial chaos) was a massive buying spree of US-T bills by Caribbean bank centers, “from $117 billion in July 2008 to a hefty $204 billion in October 2008.” China and Russia (apparently) is also very very angry with the US. Willie also says in his article on Davos that the major powers can’t agree on ANYTHING right now.
2.I went to my paperback of Gold Warriors and looked in the index for “Citibank.” 10-page section on the bank (p.222-232). pp226-7 says:”The solution was simple. Citibank would move all Santy’s assets offshore, from Citibank New York to Cititrust in the Bahamas. This would have the effect of putting the bullion outside the jurisdiction of New York courts, blocking any lawsuits contemplated by heirs.” Huh? Wonder if that has anything do with #1.
3. I read a Gary North article mentioning Soros saying commercial real estate to fall 30% in the US, but PRICE INFLATION otherwise.
4. I read GEAB’s 2009 March 16 article making me now believe that the “euro will implode” meme the last few months is mostly disinformation. http://www.leap2020.eu/GEAB-N-33-is-available!-Growing-Transatlantic-tensions-on-the-eve-of-the-G20-summit-An-illustration-of-Wall-Street-s-and_a2940.html
. GEAB also says that the major powers can’t agree on ANYTHING right now.
5. I wanted to know if China was really angry or if their public diplomatic position of hating the US dollar was just for domestic consumption. Did some searching for “yuan” and “reserve currency.” I found that China began EXPERIMENTING in DECEMBER 2008 with neighboring nations on making the yuan fully convertible. [holy **expletive**] But no details. [For those that don’t know, China’s currency is not fully convertible on world markets which allows the nation to control capital flows and prevent attacks on their currency by speculators (like Soros)…but this also prevents the currency from being used as a reserve currency like the US dollar or euro.]
…
If China REALLY is angry with the current situation, they will throw off the whole “exporting nation to get richer” idea and focus on domestic production AND consumption. My guess is that a fully convertible yuan would appreciate from the current dollar peg A LOT. With Russia agreeing to barter on their side, they would need one more major power’s cooperation (Japan?) to become a regional Asian hegemon. And this would mean that all US imports from China would probably double in price (my guess)…which explains the whole rapid US inflation idea I couldn’t rap my head around before).
Oh boy.
Crac:
Can you tell me where to find info. on China’s intentions in regard to making its currency convertible?
Thanks.
Byron
byron,
http://www.asianews.it/index.php?l=en&art=14131
“The first experiment is limited to transactions between Hong Kong and the neighboring provinces. It is also proposed that the yuan renminbi be used in 8 neighboring countries, including Russia. With these countries, agreements have already been signed for the settlement of contracts in the Chinese currency. Perhaps it is no coincidence that the news was released on Christmas Day, when Western markets are closed, reducing the impact on the dollar.”
It’s experimental. No announcement to make it fully convertible, but China is using the mere possibility as a bargaining chip.
I’ve been trying to think of what “bargaining chips” the US really has besides military might and information wars. The biggest poker chip the US has are:
1)allowing access to the largest market in the world
2)control of oil
3)control of food
#1 has kept Japan towing the American line for the last 30 years…but this trading system seems broke right now. Maybe the US offers Japan the end of General Motors, and China ownership of our overpriced commercial real estate?
Japan usually tows the western line, but never fully trusts the West as well. This is why they heavily subsidize their home ag industry because of the possibility of widespread famine (like in Germany) after the world wars. Japan has also seems to be limiting the number or nanotech patents they publish the last few years…without any apparent decrease in funding research.
I have an idea they’re siphoning off trillions of dollars to fund infrastructure for an even bigger scam. Pitting productivity vs. unproductivity. Carbon credits on global, national and down to a personal level. Previously they’ve only been able to market human activity. It occured to me after the global lights out following the G20 meeting. In the name of climate change and saving the planet. There’s a market for inactivity. Possibly lynchpin of the new world order economy and it’s agenda for monitoring human activity. It could even bring about mandatory Sunday rest (global lights out), require mandatory attendence to a world church and fullfill some bible prophesies. Mark of the beast for one.
How could we NOT leave Afghanistan out of this…
There was a Dilbert cartoon a few months ago that also hinted at the drug cartel being the source of funds for the bailouts.
I meant to say how COULD we leave Afghanistan out of this. Afghanistan is so tied in to the issue!