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.
Concerning No. 9 The USA has handed over a squadron of Stealth bombers to the UN
NATO is becoming a UN entity
and those that do not comply with all the agendas will be blown up.
Americans will be stacked and packed in zones of population.
I personally predict 20 to 50 dead Americans who are resistors and it could be as much as 275 million by extermination.
especially agenda 21 which will strip Americans of more than most Americans can stand.
Way to go . You have the right insight. I started this study in the early 1980’s when I was in my early 20’s. We are in for a very real hard time and most Americans are out of the loop. Thanks
there are those who are ranting and raving on the internet (bob chapman of international forecaster} that we should all drop everything and buy gold. he is scary this guy and he is
a bit of a looney. what do you think? just another bubble?
Who are some of those families? Gates? Googles? What banks?
Carol:
FYI — the return of Christ and the rapture are two distinct prophesies…not one,
Catherine
Hi Catherine,
In your latest commentary on G-20 you did not mention the official name of the designated new
global currency which Glenn Beck named. He also entitled the conference Brettonwood Three and wonder how you feel about that scenario.
Looking forward to seeing a more comprehensive report on the conference and the resulting repercussions, short, medium, and long range.
archivesDave
Great run-down. I do have high hopes for change with Obama, changes he cannot present just yet.
When people find out their retirements aren’t what they expect, there will be changes. I have personally stopped making credit card payments, and now, after 3 months, they are working to settle with me, for about half.
Catherine needs to be nominated to be involved with Volcker, who hopefully will be at the Treasury.
another great website is http://www.jsmineset.com
Yvonne re: Ecuador, ( 4th above ), made the most telling comment. G-20 unveils action. Third World reacts with what will be a more powerful reaction. Not fiat vs. hard currency. More protectionism, (tariffs etc. to protect local sustainability), vs. ‘free trade’. The lines are being drawn. Look to all equatorial capitols, Quito, Kampala etc. first. Gul in Turkey also seeing ahead in this and hosting inside meetings. That they are not in Ankara sends a message. Economies will go local. Period. Only question is at what blood price.
Michael.