- This is a documentary on the Wall Street, corporate interest, plot to overthrow Franklin D. Roosevelt during the Great Depression in 1932.
- It narrates the history of the recruitment of General Smedley Butler to lead a veteran army of 500,000 to oust FDR and install a fascist dictatorship. At the heart of the quarrel between FDR and corporate America is the disagreement over the Gold Standard. Funding for the coup was to be provided by JP Morgan Bank.
- General Butler pretended to go along with these coup plotters to find out more about their organization and who the real power behind this group was. Subsequently General Butler reported the entire plot to Congress and the fascist coup came to an end.
- From Wall Street’s Plot to Seize the White House :
How is this history of relevance today?
Although all of the top U.S. fascists behind this 1930′s plot are now dead, their corporations carry on. These companies, with their roots firmly planted in the fascist milieu of the 1930s, are now among the world’s wealthiest corporations. They continue to exert enormous influence over U.S. government policies, and – by extension – over global matters of war, peace and human rights.
Although those within the highest echelons of U.S. corporate power were willing to instigate a coup to take control of the White House, their plot against FDR was called off. As it turned out, an overt fascist coup was not actually necessary to attain their goals. The fascists behind the plot did eventually succeed in regaining their long-standing influence over the White House and American politics.
President George Walker Bush’s grandfather (Prescott Bush) and great grandfather (George Herbert Walker) were among Wall Street’s ultra-right wing elite. Before WWII, they were among the key players who coordinated the flow of investments from American multimillionaires into Germany. They profited by helping to coordinate the American financing behind Hitler’s rise to power. During the war, they even profited from companies that armed the Nazi war machine and used slave labour at Auschwitz. Then, after the war, Prescott Bush was instrumental in helping to launder Nazi loot for Fritz Thyssen, who was one Hitler’s earliest and richest industrialist backers.
- See also : Bush’s Grandfather Planned Fascist Coup In America and How Bush’s grandfather helped Hitler’s rise to power .
- The 2nd largest economy in the world is in a steepening decline. AFP reports in Economy ‘worsening rapidly’ :
TOKYO – JAPAN said on Tuesday its economy was ‘worsening rapidly’, downgrading its assessment for a fourth straight month as output, exports and consumer demand weaken amid the global downturn.
The Japanese consumer confidence index slumped to a fresh all-time low in December as the economic crisis triggers a wave of layoffs in Asia’s largest economy, a separate survey showed.
‘The worsening trend is likely to continue for some time, and there are concerns that a rapid drop in production may lead to a drastic adjustment in employment,’ the Cabinet Office said in a monthly report.
The economy faces risks from an escalation of the global financial crisis, a world recession and turmoil on world financial markets, it said. The government downgraded its assessment of exports, production and consumer demand, following a raft of gloomy snapshots of the world’s number two economy.
The government said its consumer confidence index fell to 26.2 in December, down from 28.4 in November and the lowest level since comparable records began 26 years ago. ‘The direct impact of global financial system problems on Japanese households is muted, but it appears to have led to a confidence shock,’ noted Richard Jerram, chief Japan economist at Macquarie Securities.
- Does the title surprise you? It should not. But if you listened to MSM last year you seem to get the impression that the powers that be (PTB) know what they are doing and have a handle on the problem. This is far and away from the truth. The truth is : Insolvency ! Bankruptcy !
- No amount of shilling, propaganda and delusional optimism can shield us from what is about to happen. We are going to see a massive collapse of the financial system soon. GEAB and Celente give the timeline : by end of Q1 2009. (see my earlier postings)
- The truth is the bailout money is now exceeding all the capital of the banks! And it does not look like it is working. Politicians are already hinting of more bailouts to come. Esteemed economist Noriel Roubini says in Roubini Predicts U.S. Losses May Reach $3.6 Trillion :
U.S. financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is “effectively insolvent,” said New York University Professor Nouriel Roubini, who predicted last year’s economic crisis.
“I’ve found that credit losses could peak at a level of $3.6 trillion for U.S. institutions, half of them by banks and broker dealers,” Roubini said at a conference in Dubai today. “If that’s true, it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis.”
Losses and writedowns at financial companies worldwide have risen to more than $1 trillion since the U.S. subprime mortgage market collapsed in 2007, according to data compiled by Bloomberg.
President Barack Obama will have to use as much as $1 trillion of public funds to shore up the capitalization of the banking sector, following the $350 billion injection by the Bush administration, Roubini told Bloomberg News. Congress last year approved a $700 billion rescue fund, of which half remains to be disbursed. ….
“The problems of Citi, Bank of America and others suggest the system is bankrupt,” Roubini said. “In Europe, it’s the same thing.”
- So they are effectively insolvent. It means they are bankrupt ! At least Professor Roubini has the courage to say it publicly. Not so for the other MSM analysts.
- Someone please explain to me why anyone will recommend or buy banking stocks?
- Our friends across the ocean that can’t speak proper English (Heh Heh), the British, are in no less deep a shit hole ! British banks are ‘technically insolvent’ :
Britains biggest banks are “technically insolvent”, Royal Bank of Scotland said yesterday, as the global banking industry was rocked by another day of turmoil, including the announcement of $23bn (£16bn) of new losses from Merrill Lynch and Citigroup, the giant US institutions.
Analysts working for RBS, one of several British banks to have received emergency funding from the UK Government last year, told the City that “the domestic UK banks are technically insolvent on a fully marked-to-market basis”.
- Them British fellas are catching on pretty fast. They are learning doubly quick from the FedRes :
The urge to coverup what one ought not be doing is immense. That fact helps explain Plans To Allow Secret Printing By The BOE. The Bank of England will be able to print extra money without having legally to declare it under new plans which will heighten fears that the Government will secretly pump extra cash into the economy.
The Government is set to throw out the 165-year old law that obliges the Bank to publish a weekly account of its balance sheet – a move that will allow it theoretically to embark covertly on so-called quantitative easing. The Banking Bill, which is currently passing through Parliament, abolishes a key section of the law laid down by Robert Peel’s Government in 1844 which originally granted the Bank the sole right to print UK money.
The ostensible reason for the reform, which means the Bank will not have to print details of its own accounts and the amount of notes and coins flowing through the UK economy, is to allow the Bank more power to overhaul troubled financial institutions in the future, under its Special Resolution Authority. However, some have warned that it means: “there is nothing to stop an unreported and unmonitored flooding of the money market by the undisciplined use of the printing presses.”
- Yep ! Gordon Brown is getting callouses on his testicles juggling knives and axes with both hands and feet. Gordon Brown brings Britain to the edge of bankruptcy :
They don’t know what they’re doing, do they? With every step taken by the Government as it tries frantically to prop up the British banking system, this central truth becomes ever more obvious.
Yesterday marked a new low for all involved, even by the standards of this crisis. Britons woke to news of the enormity of the fresh horrors in store. Despite all the sophistry and outdated boom-era terminology from experts, I think a far greater number of people than is imagined grasp at root what is happening here.
The country stands on the precipice. We are at risk of utter humiliation, of London becoming a Reykjavik on Thames and Britain going under. Thanks to the arrogance, hubristic strutting and serial incompetence of the Government and a group of bankers, the possibility of national bankruptcy is not unrealistic.
The political impact will be seismic; anger will rage. The haunted looks on the faces of those in supporting roles, such as the Chancellor, suggest they have worked out that a tragedy is unfolding here. Gordon Brown is engaged no longer in a standard battle for re-election; instead he is fighting to avoid going down in history disgraced completely.
- Andrew Grice is also pretty descriptive ‘This is like giving the kiss of life to a corpse’ :
The Government does not know whether the second bank rescue package it launched yesterday will work, senior ministers admitted last night. “The truth is that we can’t be sure whether it will be effective,” one told The Independent. “We have to look calm to try to instil some confidence in the system. But we don’t know what will happen next. No one can be sure that this is the end of it.”
Another added: “We are in completely uncharted waters. The position is changing all the time.” Gordon Brown and Alistair Darling claimed the second bailout did not mean the first package they unveiled last October had failed. That deal, they argued, was about preventing banks from going bust; yesterday’s was about ensuring they had the confidence to lend to businesses and the public.
Ministers struggled to explain why, if the new package was not a “blank cheque”, they could not disclose how much it would cost taxpayers. Officials dismissed talk of a £200bn bailout, saying some measures had a low risk and figures were still being calculated.
- “the second bailout did not mean the first… had failed” . Sure if you say so! Pigs can fly ! Their only problem is landing ! Water Boarding is not torture ! It is a recommended medical procedure to cleanse your GI tract ! Sure sure if you say so. Go ahead and cleanse your own GI tract. My gut and my ass look pretty clean the last time I checked!
- So are we in the 21st Century Great Depression or not ?? Ambrose Evans-Pritchard: Monetary union puts half of Europe in depression :
Events are moving fast in Europe. The worst riots since the fall of Communism have swept the Baltics and the south Balkans. An incipient crisis is taking shape in the Club Med bond markets. S&P has cut Greek debt to near junk. Spanish, Portuguese, and Irish bonds are on negative watch. Dublin has nationalised Anglo Irish Bank with its half-built folly on North Wall Quay and €73bn (£65bn) of liabilities, moving a step nearer the line where markets probe the solvency of the Irish state.
A great ring of EU states stretching from Eastern Europe down across Mare Nostrum to the Celtic fringe are either in a 1930s depression already or soon will be. Greece’s social fabric is unravelling before the pain begins, which bodes ill.
Each is a victim of ill-judged economic policies foisted upon them by elites in thrall to Europe’s monetary project – either in EMU or preparing to join – and each is trapped.
- The 2nd bailout of this past week is a major alarm ! A big fire alarm went off worldwide. For those who do not understand : Major financial collapse worldwide ahead ! Much worse than in October last year. It looks like it will be even more rapid. Those who are asleep will be stunned, much like the world was stunned in November and December on how rapidly things can go to hell ! Jim Willie in Gold, Zombie Banking System, Lightening, Earthquakes and Hurricanes :
WHAT COMES NEXT IN THE UNTIED STATES AND THE GLOBAL ECONOMY WILL INVOLVE CONSIDERABLE DESTRUCTION AND NOTABLE DISLOCATION TO FINANCIAL STRUCTURES, AS IN FINANCIAL MARKETS, PRICING SYSTEMS, AND NATIONAL ECONOMIES. ….
- The Light at the End of the Tunnel ? It’s the Train coming at you !
- Webster G. Tarpley is an author, journalist, political analyst and lecturer. He has written extensively on the US political scene, economic policies, history, character analysis of the main players and what to expect from them.
- His books can be found on his website : http://www.tarpley.net/ . They include :
- Surviving the Cataclysm
- George HW Bush : The UnAuthorized Biography (with Anton Chaitkin)
- 911 Synthetic Terror : Made in USA
- Obama : The Post Modern Coup
- Obama : the UnAuthorized Biography
- His recent articles can be found at :
- In this interview by Jason Bermas, of the Alex Jones Radio, Tarpley weighs in on his assessment of Obama. What can we expect from this 1st black American president with ‘Messianic’ cult like following? What are his policies? What are the driving characters and forces in Washington that will ‘guide’ his policies.
- In Alex Jones inimitable style: no propaganda, no shilling, forthright and hard hitting, Jason Bermas leads the line for Alex.