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.
Thank you for proving me right! With your knowledge and experience, I can take this information to my naysayer neighbors and let them read the facts, sans all of the gray matter.
Yvonne A
Steven, some of us aren’t exactly interested in hearing about your rapture nonsense. Why don’t you take it to an end-times forum?
Thank you Cathrine for this info,
For anyone who wants to know the truth about the present state of affairs, I beg you all to visit http://www.infowars.com, here you will get the break down of who’s who in politics, and who is really pulling Bush’s AND Obama’s puppet strings.
again, please, PLEASE visit infowars.com, in fact Cathrine was a guest on the Alex Jones’ radio show, and he was recently talking about getting her back on the show.
We need to wake up to the tyranny before it is too late.
DOWN WITH THE NEW WORLD ORDER!!!
Excellent translation! It begins the fulfillment of Bible prophecy –One world government! Centralized control. The return of Jesus cannot be far off.
Hi Catherine,
Amy has brought up some important questions about gold. Can you address these?
thank you
yvonne
Claire:
Yikes! We did not know that statement was still up. It was coming up only in the cache. So THANK YOU. We have deleted,
Catherine
Looks like Ecuador Pres. Correa is taking a stand!
Ecuador Misses Key Interest Payment, Citing Debt’s “Illegitimacy”
November 17, 2008 (LPAC)–On Nov. 15, one day after his government missed a $30.6 million interest payment on its Global 2012 bond, Ecuadorian President Rafael Correa denied that the missed payment represented a moratorium on the foreign debt.
Rather, he said, his government has serious questions as to the legitimacy of the foreign debt. Speaking on his weekly radio show, he said he would use the 30-day grace period which the debt contract allows, to further study the situation, and would consult the finding of a special commission which has spent months auditing the foreign debt, and whose final report will be released on Nov. 20.
The commission’s preliminary findings have already been “truly horrifying,” Correa said, with more than enough proof of illegal and abusive behavior by foreign creditors.
Immediately after the government missed the payment, Standard & Whores rating agency cut Ecuador’s rating to CCC-, three levels above default. But Correa responded that what S&P, and other “financial speculators and creditors” do, doesn’t interest him in the least. “We shall act in the country’s interest, and [on behalf] of the common good.” That is the only important criteria, he said.