The Editor of Expresso in Portugal wanted my take on the recent G-20 communique. Here is my “translation” of the official statement:
1. Now that the growth of debt and derivatives bubbles has stalled, we are committed to using governmental-central bank mechanisms to cover the positions of any of the large private financial institutions whose profits are at risk due to their management of these bubbles and who can use this opportunity to squeeze and acquire smaller rivals at low cost.
2. Our commitment to use derivatives and market interventions to shift investment from the real economy and commodities into a paper economy is firm. We will continue to use centralized governmental mechanisms to subsidize and manage this process.
3. All of the organizations and players who reaped a fortune engineering the debt and derivatives bubbles will be allowed to keep their winnings.
4. We will use this period of consolidation to further centralize the global financial system by enforcing greater centralization of the standards, practices and control of enforcement and regulatory bureaucracies. This increased governmental centralization will be presented as the “fix” for our “problems.”
5. We will continue the move toward one world government and one world currency.
6. We are prepared to use coordinated inflation of global money supplies and fiscal stimulus to protect our control and positions.
7. We are committed to the Slow Burn (see my blog post on this subject).
8. This process will continue to be managed to protect large insurance and risk positions.
9. The net result will be to continue to exercise growing control over the real economy by a handful of private families and institutions designed to protect and grow intergenerational wealth.
G-20 are silent on the military and covert action that will be required to make this stick. They are also silent on how they are going to manage this much inflation. For example, the most recent figures from the St. Louis Fed indicate that the aggregate monetary base is growing at an annualized rate of almost 800%.
Watch for a new focus on “green investing” as the trick in all of this will be how to create new productivity when the absence of real prices mean there is no market to provide the necessary signals and financial incentives.
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Video clip: Catherine Austin Fitts discusses Housing Bubble fraud in 2008: Live from San Francisco
Following a successful career on Wall Street, Catherine Austin Fitts was appointed U.S. Assistant Secretary of Housing / Federal Housing Commissioner in the first Bush administration. Catherine’s story is chronicled here: dunwalke.com.
Catherine:
On gold, when and by how much?
In regards to the Elitist’s, I suppose if they think they are GOD, then they probably think that they can create evil or have evil work for them. I was just thinking about the India attack……..maybe Al Quida is in on this NWO trap. Their job may be to panic the people so they do not think straight. Wasn’t Bush friends with Osama Bin Laden? Didn’t he and the 911 Terriorist’s work for the CIA before 911, planning it? I read that somewhere in my research. Notice, about the time we have any hope brewing, they stir up the fear mongers to prove their point, when acturally they could have propagated it! Oh my God……..I”m either seeing the delusion that they have contrived or I am in one my self…I wish I could figure this out. LOL..
BAIL OUT, FAIL OUT
The Virtual Economy
Have you heard the latest mysterious case
Of money missing without a trace
Of millions, no, billions,
No, trillions – or, zillions?
Gone is the wealth that never was there
The interest due on debtors’ dreams
From shares on castles in the air
Built from blueprints of bettors’ schemes.
NOW!
Welcome to the magic show,
Abracadabra presto change-o!
For the sacred Fed hath said
“Never mind we’re in the red
Let’s just forget about this debt.”
“We took extreme measures In our latest caper
To simulate treasures By pictures on paper.
Not to worry, we’re not sorry
You’ve lost your butt, we’ve got OUR cut!
You may be bust, but now must trust
In our instruction to your destruction.”
IN with the imaginary complicated deal!
(Only reactionaries remember the real.)
America now emulates The empires of old:
We gave up our freedom When we gave up our gold.
and whar do you thinkabout energo crisis in Russia?
amazing think))
HI CATHERINE.. love your work.. im going to post today an analysis of the G20.. with adove filtering and enlarging the photo you have at the top.. i tried to find this pic on yahoo ap archives but having trouble.. they certainly have HUBRIS.. without being human.. the G20!!!.. ah ho WIOLAWA
An article I found somehow this week, helped me to see the Big Picture even more. Phil Harris wrote it,in 2003, America’s war against the EU. It’s not a long article, but it wraps it up pretty good. I think.
It will tell you the reason for us going to war with Iraq. Its all about the dollar value and its use for exchange for oil, rather than gold like it was before 1976. It’s all about Iran trading their oil to the EU now in EURO’s, rather than dollars. And after I read it,my conclusions are:, like Catherine says, they had to create a housing and wall street bubble, and sell the derivatives to EU and China to force them to use USA dollars. We had to sanction Iran to prevent them from d evaluating the dollar. We probably hired the Sudanese to capture all the ocean liners filled with oil from Iran, selling it way to cheap to Europe, we had to head them off before they reached the Nile river. Then, we had to give free trade to foreign countries , so they would buy in USA dollars. Decrease in American jobs had to happen, in order to damn up the corporations from paying for labor in American dollars.
They had to increase the cost of imported products, to put the people into debt, to again collect in American dollars. There are just enough jobs left to run the country/USA. With the decrease in jobs then those that still have one, will have to pay more taxes to keep the taxes at the same level needed to keep the government intact and financed. And to provide food stamps etc. for the jobless. The stimulus package is going mostly to upgrading airports,ski resorts,government building upgrades, parks and recreation for the rich and famous, in my state of Michigan anyway. Rather than, to start green energy manufacturing businesses to create long lasting jobs and greener housing and cars. Most of all manufacturing jobs and customer service jobs are now in, Mexico,Asia,Philippines,Beliese,India,Canada. I”ve talked to them all for my JC Penny’s card, Charter communications and Orchard Bank. In Michigan you can get forms to do your taxes online, in English,Spanish or Arabic. I believe that immigration from Mexico is in part not stopped because they send their incomes back to Mexico,as I’ve witnessed at Walmarts, and K Marts stores as they wire it via Western Union hundreds of dollars. Probably tax free! Again, more American dollars being exchange,I’ve heard some $50 billion went back Mexico from the USA, legal and illegal aliens.
Do you think our government is going to give that up or Mexico either??? It’s all done so that the dollar increases in value, as the most exchanged and the most powerful in the world, in value and nation.
They tricked EU and China with the war in Iraq and the Housing Bubble. Now they want to use Obama to go over and lick their wounds and say everything is all right…just force your money into the system G-20’s, like the USA has done and then pay us back in interest and a world tax and we’ll all come out a winner. Hah, Hah. Except the American people…they will have to suffer and sacrifice for the sins of our country.
Please read it and see what you think, I wonder what Catherine will say if she reads it!
here it is: http://www.northstarcompass.org/nsc0304/usvseu.htm