Paul Craig Roberts: Recovery or Collapse? Bet on Collapse! The Financial Crisis Could Destroy Western Civilization!
Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist and was previously an editor for the Wall Street Journal. His latest book, “How the Economy Was Lost: The War of the Worlds,” details why America is disintegrating.
- Recovery or Collapse? Bet on Collapse!
by http://www.paulcraigroberts.org/
The US financial system and, probably, the financial system of Europe, like the police, no longer serves a useful social purpose.
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In the US the police have proven themselves to be a greater threat to public safety than private sector criminals. I just googled “police brutality” and up came 183,000,000 results. (Here are two recent brutal assaults, one deadly, by police on hapless individuals: http://latimesblogs.latimes.com/lanow/2012/05/kelly-thomas-video-dad-they-are-killing-me-.html and http://www.informationclearinghouse.info/article31364.htm )
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The cost to society of the private financial system is even higher. Writing in CounterPunch (May 18), Rob Urie reports that two years ago Andrew Haldane, executive Director for Financial Stability at the Bank of England (the UK’s version of the Federal Reserve) said that the financial crisis, now four years old, will in the end cost the world economy between $60 trillion and $200 trillion in lost GDP. If Urie’s report is correct, this is an astonishing admission from a member of the ruling elite. http://www.counterpunch.org/2012/05/18/the-true-costs-of-bank-crises/print Try to get your mind around these figures. The US GDP, the largest in the world, is about 15 trillion. What Haldane is telling us is that the financial crisis will end up costing the world lost real income between 4 and 13 times the size of the current Gross Domestic Product of the United States. This could turn out to be an optimistic forecast.
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In the end, the financial crisis could destroy Western civilization.
Even if Urie’s report, or Haldane’s calculation, is incorrect, the obvious large economic loss from the financial crisis is still unprecedented. The enormous cost of the financial crisis has one single source–financial deregulation. Financial deregulation is likely to prove to be the mistake that destroys Western civilization. While we quake in our boots from fear of “Muslim terrorists,” it is financial deregulation that is destroying us, with help from jobs offshoring. Keep in mind that Haldane is a member of the ruling elite, not a critic of the system like myself, Gerald Celente, Michael Hudson, Pam Martins, and Nomi Prins. (This is not meant to be an exhaustive list of critics.)
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Financial deregulation has had dangerous and adverse consequences. Deregulation permitted financial concentration that produced “banks too big to fail,” thus requiring the general public to absorb the costs of the banks’ mistakes and reckless gambling.
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Deregulation permitted banks to leverage a small amount of capital with enormous debt in order to maximize return on equity, thereby maximizing the instability of the financial system and the cost to society of the banks’ bad bets.
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Deregulation allowed financial institutions to sweep aside the position limits on speculators and to dominate commodity markets, turning them into a gambling casino and driving up the prices of energy and food.
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Deregulation permits financial institutions to sell naked shorts, which means to sell a company’s stock or gold and silver bullion that the seller does not possess into the market in order to drive down the price. http://www.rollingstone.com/politics/blogs/taibblog/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-20120515
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Bilderberg Agenda Attracts National Exposure!
The Western Illuminati Organization Chart. Source: http://www.stevequayle.com
- Bilderberg Agenda Attracts National Exposure!
by Paul Joseph Watson, www.Infowars.com
Romney policy advisors on defensive over secretive group’s power
The secretive Bilderberg Group’s agenda for its 2012 meeting has attracted national attention with an article by veteran Politico journalist Ken Vogel exploring charges that the organization is set to play a decisive role in the upcoming U.S. presidential election.
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The article, entitled Marco Rubio as vice president: the Bilderberg conspiracy, focuses around our piece from back in April which flagged the fact that the Washington Post, itself a creature of Bilderberg, had not so subtly implied that Bilderberg may have a hand in picking Mitt Romney’s running mate just as they picked VP candidates in 2004 and 2008.
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“Like any good conspiracy theory, there’s just enough there to stoke questions,” writes Vogel. “John Edwards’s speech to the Bilderberg Group’s 2004 meeting in Stresa, Italy, reportedly helped clinch his selection as that year’s Democratic vice presidential candidate. And Jim Johnson, the man who chaired that vice presidential selection process and initially was tasked with spearheading Barack Obama’s 2008 search for a running mate, is a leading Bilderberg member, while prominent Romney advisers including Robert Kagan and Vin Weber have attended past meetings, as have Bill Clinton, Donald Rumsfeld and top finance, media and tech executives.”
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Vogel also quotes two time Bilderberg attendee Vin Weber, who claims that no scheming takes place at the event and that it is “just a conference.” Another Romney foreign policy adviser, Robert Kagan, claims the meeting merely represents, “a lot of vaguely uninteresting people giving vaguely uninteresting lectures and then having nice meals in nice places.”
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However, as we have exhaustively documented with numerous different examples, Bilderberg does indeed create the consensus for setting policies of global significance, including the introduction of the euro single currency.
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Target Iran: America And Israel To Officially Unleash MEK Terrorist Cult !
Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.
- Target Iran: America and Israel to Officially Unleash MEK Terrorist Cult!
by Niall Bradley, http://www.veteranstoday.com/
A couple of months ago, one of those dubious leaks made by “unnamed US officials” caught my eye. US media did something it doesn’t often do; it publicised ‘secret’ Israeli government policy. Giving five minutes of prime time TV to Iranian scientist Mohammad Javad Larijani, brother of Ali Larijani, philosopher and chairman of the Parliament of Iran, two “senior U.S. officials” confirmed for NBC News what Mohammad Larijani was telling them: that Israel was behind the assassinations of Iranian scientists.
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Specifically, the US officials stated that Israel’s Mossad was financing, training and arming an Iranian dissident group that goes by many names, but which we’ll call the People’s Mujahedin of Iran (MEK) for now. In return, the MEK is “providing Israel with information.” Speaking through NBC, these unknown officials confirmed what Larijani and the Iranian government have been saying for years: that Israel, through the MEK, carried out the attacks in which motorcycle-borne assailants attached sophisticated magnetic bombs to the exterior of the victims’ cars. The US officials further stated that the Obama administration is aware of the assassination campaign but has no direct involvement.
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No sooner had the story been leaked than a series of car bombings took place outside Israeli embassies in India, Georgia …. The same types of bombs used in the assassinations of Iranian scientists were used to blow up vehicles near Israeli diplomats. The Israelis never actually intended to kill any of their own, because the Mossad warned the embassies ahead of time. Israel of course blamed Iran for the bombings. But these stunts were clearly intended to deflect attention from the US government’s confirmation that Israel is murdering Iranian scientists through its surrogate, the MEK, and, once again, portray Israel as the eternal victim.
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The Obama administration may not have had direct involvement in the assassination of Iranian scientists, but it is the height of hypocrisy for the US government to pretend that it isn’t involved in subverting Iran’s civilian nuclear program. The CIA was kidnapping Iranian scientists and bribing them to ‘defect’ as recently as 2010 and as far back as 2007. Since at least 2005, the US regime has been up to its neck in dealings with multiple terrorist organisations based in countries encircling Iran, of which Jundullah, in the region of Balochistan on the Pakistani border, is arguably the most notorious.
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Al Jazeera Exposes 2nd Anti-Islam Class Taught To US Military Officers!
- The Illuminists want to execute their Satanic World War 3 Plan. At the core of this plan is: Zionist West and their allies vs Muslim World and their allies. The Illuminists are stepping up their propaganda to brainwash the sheeple via fear and hate! The Christian sheeple will be brainwashed into killing Muslims. Unfortunately, many of them will fall for it.
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Albert Pike’s Satanic World War 3 Plan
“The Third World War must be fomented by taking advantage of the differences caused by the “agentur” of the “Illuminati” between the political Zionists and the leaders of Islamic World. The war must be conducted in such a way that Islam (the Moslem Arabic World) and political Zionism (the State of Israel) mutually destroy each other. Meanwhile the other nations, once more divided on this issue will be constrained to fight to the point of complete physical, moral, spiritual and economical exhaustion…
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We shall unleash the Nihilists and the atheists, and we shall provoke a formidable social cataclysm which in all its horror will show clearly to the nations the effect of absolute atheism, origin of savagery and of the most bloody turmoil.
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Then everywhere, the citizens, obliged to defend themselves against the world minority of revolutionaries, will exterminate those destroyers of civilization, and the multitude, disillusioned with Christianity, whose deistic spirits will from that moment be without compass or direction, anxious for an ideal, but without knowing where to render its adoration, will receive the true light through the universal manifestation of the pure doctrine of Lucifer, brought finally out in the public view. This manifestation will result from the general reactionary movement which will follow the destruction of Christianity and atheism, both conquered and exterminated at the same time.” 4
- - The Muslim Brotherhood is a creation of western Illuminist intelligence agencies: MI6 mainly! It is still owned, controlled, financed, managed, equipped … by CIA, MI6, Mossad …. Do not be taken for a ride!
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Al Jazeera exposes 2nd anti-Islam class taught to US military officers!
by Alex Kane, http://mondoweiss.net/
Al Jazeera English has revealed that a second anti-Muslim class was taught to senior US military officers. The class was titled “Understanding the Threat to America,” and claimed that Islamists from Hamas and the Muslim Brotherhood have infiltrated the US government at the highest levels.
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The report came a day after Wired.com’s Spencer Ackerman and Noah Shachtman exposed a similar course being taught at the Defense Department’s Joint Forces Staff College. That class’ presentations included messages like “there is no such thing as ‘moderate Islam’” and advocated for waging “total war” on Islam using “Hiroshima” style tactics.
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Al Jazeera reported that the class it revealed was taught at a military base in Virginia, although it’s unclear if it was at the same college where the course Wired exposed was taught.
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Both of the anti-Muslim classes contained material prepared by the Strategic Engagement Group, Inc, a private group that contracts with the US military, according to Al Jazeera. MSNBC’s Miguel Llanos has background on them:
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The firm’s website states its president, E.J. Kimball, was formerly a foreign policy counsel to Rep. Sue Myrick, R-N.C., and created the bipartisan Congressional Anti-Terrorism Caucus. Myrick earlier wrote to Pentagon chief Leon Panetta voicing her concern that “the political nature of these (class) reviews might inadvertently weaken” military training, Al-Jazeera noted.
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Stephen Coughlin, VP of strategic communication initiatives, is described as “the leading expert in the United States on Islamic Doctrine” and a U.S. Army Reserve major with military intelligence expertise. The group says it formed in 2010 “for the purpose of exposing and defeating efforts to subvert the United States Constitution and subjugate the American People.”
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The documents shown in the video demonstrate that this class revolved around the far-right conspiracy that groups like the Council on American-Islamic Relations (CAIR) have close ties to Hamas and have infiltrated the US government and media to impose their agenda. To prove this theory, one slide in the presentation shown by Al Jazeera pictured Ibrahim Hooper, CAIR’s communications director, with Bill O’Reilly. The implication is that O’Reilly, the brash Fox News personality, is in cahoots with Hooper and CAIR, and by extension, Hamas, because he had Hooper on his show.
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- The Masonic Origins of the Muslim Brotherhood (emphasis mine)
The Masonic origins of the Islamists movements, and their true goal to undermine Islam and fight for Western Zionist Powers such as Britain and the United States of America. The Muslim Brotherhood has acted as a clever technique to recruit agent-provocateurs for the Illuminati. The lowest ranks may sincerely believe they are defending Islam, and confronting “Western imperialism”. However, these various terrorist groups, through representing different factions, are part of a single network serving the same Illuminati cause.
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When we explore the political and financial connections of the terrorists, we find that these are not merely wayward fanatics, operating in isolation, but that their channels penetrate to the upper reaches of power, in the British and American governments, and outward into the nether regions of the occult and criminal underworlds.
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William Engdahl on Egypt’s uprising:
They are being organized in a Ukrainian-style high-tech electronic fashion with large internet-linked networks of youth tied to Mohammed ElBaradei and the banned and murky secret Muslim Brotherhood, whose links to British and American intelligence and freemasonry are widely reported.
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Muslim Brotherhood created by British Intelligence
Dr. John Coleman, a former British Intelligence agent…states in his report on Iran’s Islamic Revolution that the Muslim Brotherhood was created by “the great names of British Middle East intelligence”…and that their mission was to “keep the Middle East backward so that its natural resource, oil, could continue to be looted…”
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The Muslim Brotherhood is a London creation, forged as the standard-bearer of an ancient, anti-religious (pagan) heresy that has plagued Islam since the establishment of the Islamic community (umma) by the Prophet Mohammed in the seventh century. Representing organized Islamic fundamentalism, the organization called the Muslim Brotherhood (Ikhwan al-Muslimum in Arabic) was officially founded in Egypt, in 1929, by the British agent Hasan al-Banna, a Sufi mystic. Today, the Muslim Brotherhood is the umbrella under which a host of fundamentalist Sufi, Sunni, and radical Shiite brotherhoods and societies flourish.
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The Muslim Brotherhood is a tool by the British-based Globalists whose main objective is to overthrow the established world order and create a new one-world system of global governance. Without the British, “radical Islam would have remained the illegitimate, repressive minority movement that it has always been, and the Middle East would have remained stable and prosperous.”
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The real Muslim Brothers are…the secretive bankers and financiers who stand behind the curtain, the members of the old Arab, Turkish, or Persian families whose genealogy places them in the oligarchic elite, with smooth business and intelligence associations to the European black nobility and, especially, to the British oligarchy.
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By fabricating a bogus war between Islamic fundamentalism and the West, the globalists are able to attack their real enemy, humanity. Pulling the strings, they will ensure that both Western and Muslim states are degraded and finally completely subjugated to their odious rule.
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NATO Activates Missile Shield Despite Russian Anger!
- This turning on of the Anti Missile Defence (AMD) system is another sign that the Anglo-American-Illuminist west is preparing for war. The reason they give that it is to protect Europe from missiles from rogue nations like Iran is nonsense. Any attempts by Iran to even say they want to launch missiles against Europe will be met will glee by the Illuminists. It will give them a perfect excuse to nuclear bomb Iran.
- - The AMD system is targeting Russia. It gives NATO a nuclear first strike capability against Russia since it protects Europe against Russian missiles! Putin and Medvedev are right to be concerned ! They know nuclear war is brewing!
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NATO activates missile shield despite Russian anger!
By Laurent Thomet | AFP
NATO leaders launched Sunday the first phase of a US-led missile shield for Europe, risking the wrath of Russia which has threatened to deploy rockets to EU borders in response.
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NATO official told AFP that US President Barack Obama and his allies “just decided” at a Chicago summit to put a US warship armed with interceptors in the Mediterranean and a Turkey-based radar system under NATO command in a German base.
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The alliance insists the shield is not aimed at Russia and aims to knock out missiles that could be launched by enemies such as Iran, but Moscow fears that the system will also serve to neutralize its nuclear deterrent.
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“Missile defense is indispensable. We are faced with real missile threats,” NATO Secretary General Anders Fogh Rasmussen said on the eve of the summit, adding that 30 states either have or seek ballistic missile technology. “Against a real threat we need a real defense,” he said.
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The standoff has tested Russian-US relations for much of the past decade and been one of the primary issues addressed by Obama when he launched a diplomatic “reset” with Moscow in 2009.
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Russian military chief General Nikolai Makarov said this month one option was for Russia to station short-range Iskander missiles in its Kaliningrad exclave near Poland, a long-running threat that has alarmed Eastern European states.
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NATO had hoped that Russian President Vladimir Putin would come to Chicago, but instead he sent a lower level delegation to represent Moscow during the summit’s discussion on Afghanistan.
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Putin, who returned to power after succeeding his protege Dmitry Medvedev this month, was often at odds with the previous US administration over missile defense in his first two terms of office.
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“Russia is sensitive about its nuclear capability because that’s what makes it a superpower,” said Nick Witney, a London-based defense expert at the European Council on Foreign Relations.
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In a bid to appease its former Cold War foe, the Western military alliance invited Russia to cooperate in the system at the last summit in November 2010 in Lisbon, but the two sides have struggled to find common ground.
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The Elephant In The Room: European Capital (Out)flows And Another €215 Billion In Spanish Deposit Flight !
- It is a question of when the Illuminists will pull the plug on the Eurozone. It appears to be Aug-Oct 2012. All the war preparations, exercises, trainings … for an attack on Iran points to: global economic, financial and monetary collapse leading to WW3!
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The Elephant In The Room: European Capital (Out)flows And Another €215 Billion In Spanish Deposit Flight!
by Tyler Durden, http://www.zerohedge.com/
… And unfortunately for our European readers, if King is right, things in Europe are going to get far worse, before they get better, if at all. Because while one may speculate about political jawboning, the intricacies of summit backstabbing, and other generic nonsense, the one most important topic as discussed lately, is that terminal event that any financial system suffers just before it implodes or is bailed out: full scale bank runs. It is here where King’s observations, himself a member of a TBTF bank which would likely be dragged down in any cash outflow avalanche, are most disturbing: “In Greece, Ireland, and Portugal, foreign deposits have fallen by an average of 52%, and foreign government bond holdings by an average of 33%, from their peaks. The same move in Spain and Italy, taking into account the fall that has taken place already, would imply a further €215bn and €214bn in capital flight respectively, skewed towards deposits in the case of Spain and towards government bonds in the case of Italy….Economic deterioration, ratings downgrades and especially a Greek exit would almost certainly significantly accelerate the timescale and increase the amounts of these outflows.” That’s right: according to Citi there is a distinct likelihood that, all else equal, the domestic bank sector in Spain will see another €215 billion in deposit outflows.
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And while Greece has seen a slow and steady bank run over the past 3 years, which has made it far more palatable for the local financial system, King believes that the days of “slow” outflows are now over: “we think the risks are skewed towards larger outflows occurring considerably more rapidly.” Now we won’t read too much into this, but following up on Jim Cramer’s Meet The Press interview from Sunday in which he explicitly predicted bank runs in Europe absent substantial and urgent policy changes, it appears that from a taboo, it has suddenly become all too cool to predict rapid and violent bank deposit flight in any but the priced to perfection scenario. Hopefully Spain is hip with all this sudden “coolness”…
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Secret Central Bank Aid Props Up Greek Banks!
- Where does the ECB, FedRes … Illuminist central banks get their money to do such things? By creating them out of thin air! By simply typing it into their computer system. The sheeple are made to pay back these loans plus interest to these Illuminist banksters! It is all a SCAM! But they want you to believe that they (Illuminist banksters) are the white knights who will rescue us.
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Secret Central Bank Aid Props Up Greek Banks!
by Ralph Atkins CNBC
There has been no official announcement. No terms or conditions have been disclosed. But Greece’s banking system is being propped up by an estimated €100 billion or so of emergency liquidity provided by the country’s central bank — approved secretly by the European Central Bank in Frankfurt. If Greece were to leave the eurozone, the immediate cause might be an ECB decision to pull the plug.
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Extensive use of “emergency liquidity assistance” (ELA) to help banks in the weakest economies has been one of the less-noticed features of the eurozone crisis. Separate from normal supplies of liquidity and meant originally as a temporary facility for national authorities to use when banks hit problems, ELA proved a lifesaver for the financial system Ireland and is now even more so in Greece. As such, it has given the ECB — which has ultimate control over the facility — considerable power to determine countries’ fates.
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Whether that power would ever be exercised is unclear. ELA is a subject on which the ECB is deeply reluctant to provide information — even on where or when it is provided.
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“You don’t say when you are in an emergency situation, because then you make the situation worse. So I really don’t see the usefulness of being more transparent,” Luc Coene, Belgium’s central bank governor, explained in a Financial Times interview this month.
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About
Societal and economics observer and commentator with an endtimes, future history perspective. Follow me at Twitter: socioecohistory
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