Showing posts with label IMF. Show all posts
Showing posts with label IMF. Show all posts

Friday, November 11, 2022

Rickards, Monkeys, Economists, and Complexity Theory

Jim Rickards has a Master's Degree in International Economics, and his analyses have been mostly on the mark in the past.  In this 13-minute clip, he explains WHY the next financial crash (which is overdue) will be "horrific".  The presentation has some good chuckles, and his reasoning makes a lot of sense.

He talks a hundred mph, so you have to listen carefully.  Most economists will not like the content, but they mostly deserve his characterization of them. ðŸ˜Š
Here's a brief overview of complexity theory.  Don't miss the last half.  Complexity theory is the key to an "emerging post-Newtonian paradigm" which finally is providing a holistic approach to the analysis of complex systems in both natural and artificial arenas.  The short clip below is the best introduction I've seen so far to a truly innovative and revolutionary subject.
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Not only my opinion.  Be Well

Thursday, January 23, 2020

The Coup is Almost Complete

A friend wrote me an email in which he decried the show trial in DC...the sham, cover-up (so far) performance in the Senate.  My response is below.
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Yessir, it's flat-out Orwellian.

I would disagree, though, that these Fascists are "Republicans".  Republicans (before they dried up & blew away) believed in a Constitutional Republic.  These folks are Trumpistas/Corporatists/Fascists...a horse of a different color.  Republicans didn't believe in Interventionism overseas, or shooting people in the back, or doubling/TRIPLING the Debt, or a National Surveillance State, or ignoring the Geneva conventions on war, or a host of other nightmares.  

The Repub Party was hijacked a long time ago, even before Reagan.  [The Reagan years almost tripled our National Debt, & essentially launched Neoliberalism in economic policy.  Both Reagan & Thatcher joined in what was known as the "Washington Consensus", pure Neoliberal policy.]
"Pinochet's neoliberal policies came to be codified as 'structural adjustment', and Thatcher became one of structural adjustment's most enthusiastic promoters, not only for Britain but the world, popularising her approach with the slogan 'There is no alternative'. With Thatcher and the US president Ronald Reagan as its main boosters, and the World Bank and IMF as its executors, structural adjustment or the Washington consensus was generalised throughout the developing world."

The story is similar with The Democrat Party.
Carter, David Rockefeller, Brzezenski, & the Trilateral Commission created much of the philosophical underpinnings for Neoliberalism.  The Trilateral Commission's 1st Annual Paper ("The Crisis of Democracy", book-length) proposed:  the crisis of democracy was that there was too much democracy in the world.  According to the scholarly authors (all supposedly "Liberals"), that had to be remedied if the Establishment were to survive.  "The Crisis of Democracy" was published in 1975.

Today, the terms "Republican" and "Democrat" are nothing other than Edward Bernays style PROPAGANDA.  The NEOconservatives & NEOliberals both started up in the 1970's (the difference between them is almost nil); they now rule much/most of the Western World.  In practical terms, "Conservatives" & "Liberals" no longer exist; they've both either converted or given up & faded away.

With Trump & Crew, the Neoliberal/NeoCon Coup is now almost complete... and it's not a "conspiracy"; it's in plain sight.  Meanwhile, the main worry of too many Americans is:  when is the new I-Phone making its debut.  Hey, maybe this next one will be able to fry pancakes.  ☺
And so it goes.
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Not only my opinion.  Be Well

Tuesday, May 22, 2018

The BIG Lie


About a month or two ago, Trump & Crew, Big Biz, & the Corporate Media claimed that one of the main reasons our economy is "recovering" was this:  wages have increased 2.9% (I forget over what time span).  Here's what they left out--- price inflation is now at about 2.4%...and rising.  

In addition, the Bond Market is collapsing, the Stock Market is still (despite corrections) overvalued partly or mostly because Corps. are buying back their own stock (thus falsely inflating its value), Debt is increasing (our Public Debt is now well over $21 trillion & rising rapidly, while total public & private USA Debt is a bit over $70 trillion), there are 27 million part-time workers in the USA, half of all the workers here make less than $32K per year, the IMF has launched a 10-year program to replace the Dollar as the world's reserve currency, housing rentals are sky-high, the home-owner Housing Market is in a giant Bubble, and Mega Banks continue to gamble with bizarre financial derivatives...thus continuing the Casino Capitalism that resulted in the 2008 Crash.  Meanwhile, Trump & Crew are busily reducing regulations...especially those on the Financial Sector.

The next Crash---meaning, the next transfer of wealth to the top echelon of the Upper Crust---is both overdue and unavoidable.  Ever since the 1973-1975 Recession, we've had an economic/financial Crash every 7-12 years.  The next one looks to be larger than any since (& including) '73-'75.  There's no reason at all to believe that the Boom-Bust Cycle is suddenly going to stop.  There are many reasons to believe that the next Crash will be the worst in at least the last 45 years. 

Be prepared.

Not only my opinion.  Be Well

Wednesday, February 14, 2018

The Real "State of the Union" Rather Than the Don's Version


Isn't it incredible how Trump said that the Govt's unemployment, inflation, GDP, etc. numbers were all false just before he took office, but not long after he was sworn in, those numbers were all correct.  Plus, he's now claiming that the supposed "recovery" we're in is all due to his Administration's actions in the past year.  What he expects people to believe never ceases to amaze me.  The Corporate Media are every bit as bad in that respect as is Trump.  Let's take a brief look at how things really are in this great Land.
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1.   Unemployment---

The Feds have six measures of the unemployment rate and they label them U-1 through U-6.  U-3 is the one used as the "official unemployment rate".  Currently, that rate is 4.1%...but, there's a problem.   U-3 tends to underestimate the “true” extent of unemployment because those who have been unemployed and have given up on finding another job, or those who haven’t searched for a job recently, are not included in this category.

U-6 is closer to the truth.  This number measures not just the unemployed, but also those who would like to work full-time but are stuck with part-time and/or temporary work.  They are barely scraping by.  Since the Crash of 2008, U-6 has been (to varying degrees) over 11%...but, again there's a problem.  U-6 also is incomplete.  It excludes the long-term unemployed, those who have been out of the workforce for a year or more, have not searched for work in the most recent year, but would still like a job.  Many (probably most) of those people are so down and depressed that they've given up the search.

The point here is that the "official unemployment rate" is always incomplete.  The real rate is at least double, and usually higher than that.  Currently, if we use U-6 (which is more accurate, but still incomplete) the true rate of unemployment in the USA is somewhere in the double digits.  The Feds and the Corporate Media always promote the lower U-3 number.  If Trump were really a "rebel", he'd tell the truth; but he's a member of The Establishment.  The only difference between him and the rest of them is that he's unimaginably crass...ignorant, boorish, thoughtless, blundering, and tactless. 

2.  Inflation---

For many years, there has been a huge problem with the measurement of price inflation.  The Feds use something called "core inflation", which excludes the price changes in food and energy.  Hello...those are a fair-sized chunk of most peoples' expenses.  Years & years ago, food and energy were included.  Then the Feds decided that those commodities were too "volatile" to give an accurate picture.  Right.  So now we're stuck with an inaccurate measurement... usually a number that is way too low.

In addition, the Gov't does not include asset inflation...over-valued stocks, over-valued houses, etc.  Currently, both the Stock Market and the Housing Market are in giant Bubbles.  Today, stocks are more over-valued than they were in 2008... or even in 1929.

3.  Bizarre Derivatives---  

Because of a continuing lack of comprehensive Fed regulations & oversight, bizarre Financial Derivatives (such as credit default swaps, CDOs, synthetic CDOs, bespoke tranches, etc.) still threaten our economy & finances, as well as those of the entire world.  While it's true that the number & value of such derivatives most likely has been reduced, the amount still out in the Market is horrendous.  It's difficult to know the exact number because these are private contracts between Casino Capitalists.  Best estimates of analysts as to the amounts in the Market just before the 2008 Crash and now are:  about $1.4 quadrillion, and about  $700 trillion.  $700 trillion is way above the entire world's GDP...which is about $76 trillion.  Derivatives still have a high potential to crash the world.  And yet, there are no serious regulations to prevent that.

Not only are Crony/Casino Capitalists (not genuine Capitalists) still to some degree or another creating bizarre derivatives related to mortgages, but now they're doing the same with car loans and housing rent receipts.  The whole business is just plain nuts...and extremely dangerous.

4.  Stock Buy-Backs---

One reason the Stock Market is so over-valued is because many Corporations are buying back their own stocks.  That falsely inflates their value.  I suspect that will increase now that Trump & Congress have given the Upper Crust an immense, permanent Tax Cut.  [The rest of America received a much lesser temporary Tax Cut.]

5.  The Dollar---

Jim Rickards holds a degree in International Economics, he's an attorney, a former consultant to the CIA and Pentagon on economic matters, and a NYT best-selling author...twice.  According to him and his contacts, the IMF has launched a ten-year plan to replace the Dollar as the world's reserve currency.  Ultimately, that will be extremely bad news for our economy.  The way Trump alienates allies & trade partners, the situation will be even worse.

6.  Infrastructure---

According to the top Civil Engineers, our infrastructure is in dire need of repair/replacement.  During his election campaign, Trump announced he would get Congress to institute a big Infrastructure Program.  Where is it?  He's been in office over a year, already added (he and Congress) a potential one trillion dollars to our insane National Debt, but there's no Program...not even meetings about it.  Meanwhile, our bridges continue to rust, rot, & crumble, our trains run off the tracks, and our roads & highways continue to fall apart.  Not all of them at once, but still...it's a serious problem, and it's killing people.

7.  War & Nukes---

Sometime during the last ten years or so, and right up through the present day, the Powers-That-Be convinced each other that nuclear weapons actually can be used in warfare.  They justify such thinking by telling each other (and us, indirectly) that the weapons will be smaller, "tactical" nukes.  In their minds, that means it's feasible...with no serious, long-term effects.  This is unmitigated insanity.  What they apparently don't understand is that any such use of nukes would be a dangerous experiment with likely disastrous results.

The Obama Administration launched the ten-year Program designed to create these "tactical" nukes, but Trump is exacerbating the situation with his utter ignorance of science and statesmanship.  Not only the people of the USA, but the entire world as well should be protesting this idea in a massive way.

8.  Climate Change and Other Environmental/Health/Safety (EHS) Issues---

Trump & Crew are bound and determined to tear down Fed Gov't Regulations; they've already started that.  Those Regs are not just in the Business arena, but also in the EHS world.  I worked in the field of EHS regulatory compliance for several years, and I'll be the first to admit that some of those Regs are overlapping and need to be tweaked or even eliminated.  A few are not necessary, but most of them (the overwhelming majority) are necessary.  Without them, we'll have more pollution, sickness, injuries, and premature death.

Regarding Climate Change, there are too many variables in that scenario to say that human activity (mainly the generation of greenhouse gases) is the only cause of what's going on; however, there's plenty of evidence to state with certainty that human activity is contributing to the problem...most likely in a major way.  Given that, it makes sense to address the problem of greenhouse gases.  Because Corporation Powers consider such things to be "negative externalities", the only way to address the problem is through Regulations.

As to the Business world, and using only one example, does anyone seriously believe that the Financial Sector doesn't need to be regulated?  I hope no one believes that.

My point under this subtopic is simple:  things are not good, and getting worse every day.
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Not only my opinion.  Be Well

Sunday, December 31, 2017

The Corporatist, Militarist Coup in the USA is Almost Complete


That Coup has been going on for decades.  It has continued advancing over these many years whether Democrats or Republicans have been in power in DC.  Ike was spot-on in his statement about the Military-Industrial Complex, but in the last twenty or so years there has been a conversion to the State-Corporate-Military Complex.  Let's briefly look at a few of the reasons for the assertions in this paragraph.  The following reasons are more or less in chronological order.

1.  The Gulf of Tonkin Resolution, 1964---  It turns out that the Incident prompting that Resolution didn't happen at all the way the Military said it did.  Nevertheless, it was used to get us into a disastrous war.  Plus, the War Clause of Article I, Section 8 of the U.S. Constitution was ignored completely.  Private war contractors here made out like bandits, financially speaking.

2.  Just prior to being elected in 1968, Nixon claimed he had a "secret plan" to end the Vietnam War...except, he didn't have any such plan.  The war dragged on for about seven more years, and the military hardware manufacturers raked in beaucoup profits.  State Capitalism at its best.  😒  Meanwhile, about two million people were killed or drastically maimed.  That's not counting the birth defects from the dioxin in Agent Orange.

3.  In 1971, Nixon took us completely off the Gold Standard; that became known as the "Nixon Shock".  In essence, our Gov't defaulted on its debt.  Very quickly, the Dollar lost 25% of its value/purchasing power.  We went to a total fiat currency.  Nixon said it all would be "temporary".  Right.  While Carter largely was blamed for the rampant inflation of the mid to late 1970's, it was the Nixon Shock that made such inflation inevitable.  The point of all this is:  without the monetary Gold Standard, the Fed Gov't was free to spend, spend, spend while borrowing, borrowing, borrowing.  By the time the Reagan Era ended, we had gone from a creditor nation to a monstrous debtor nation.  State Capitalism went bananas, and the military budget increased exponentially.

4.Clinton and Gore---  fierce supporters of NAFTA.  One million jobs went South.  The Rich got richer.  Our two "Populists" (not hardly) also lobbied hard for the conversion of GATT into the WTO...and the admission of China into the WTO.  That guaranteed no reform of that organization relative to environmental and democratic matters.  It all was a massive boost to "Globalization"...the wrong kind of Globalization.  The Rich got richer.  Workers suffered.

5.  Dubya Bush---  flim-flam war propaganda (Iraq), gross ignorance of the U.S. Constitution, unimaginable spending by the Feds, State Capitalism on steroids, the beginning of Drone Wars, more U.S. Hegemony, and the Rich got richer.  The economy ended up being a disaster.  The Surveillance State shifted into second gear.  The Fourth Amendment was trashed.  The blatant Propaganda was beyond incredible.

6.  Obama---  another Fake Populist and Master Propagandist.  Even though admitting to mortgage and securities fraud, not a single Mega Bank was prosecuted by the Obama Administration for criminal acts leading up to the 2008 Crisis.  The Drone Wars increased beyond belief.  According to the Left-leaning Roosevelt Institute, ObamaCare is sorely lacking and is a "bailout of the health insurance industry".  Obama launched a ten-year program to update & improve our nuclear arsenal.  Then there's the Syria mess, and the support for the terrorist-exporting Saudis.  [Wahhabism is State-sponsored by Saudi Arabia.]
In his first Presidential race, Obama received more campaign contributions from Mega Corporations than did McCain.  The Surveillance State shifted into third gear...then overdrive.  Fed Gov't spending increased even more than it did under Bush.  I didn't think that would be possible.  The National Debt soared to amazing heights...it's now impossible to repay in full.  Obama was a fierce supporter of the TPP, the most egregious "Free Trade" Agreement yet proposed.  Finally, while in office, our President became a multi-millionaire...mostly through the purchasing of Bonds.

7.  Trump---  I could write twenty pages on this guy's Corporatism, Fake Populism, gaslighting, war-mongering, conceit, arrogance, snobbery, Crony Capitalism, serial lying, elitism, disgusting sexism, ignorance of crucial matters, and gross propagandizing; unfortunately, time and energy constraints prevent me from doing that.  The Don is absolutely, without question the worst President this Land ever has had.  Thank heaven, just as I and many others predicted, his base supporters are beginning to question his competence and sincerity.  The prediction was that would happen within one year.  Kudos to them.
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Side Bar---

The gall of the Trump Admin. threatening the overwhelming majority of nations at the U.N. because they disagreed with Trump's decision on our Embassy in Israel.  Typical U.S. Gov't Bully-Boy tactics.  One more example of our Gov't erecting roadblocks to Middle East peace.  The last thing the Fed-Corporate-Military Complex wants is peace in that region.  That would be bad for Big Business...especially bad for the Mega Banks and war contractors.

Lastly,  the Coup finally will be complete when at least two more things happen:
1.  SS and Medicare are privatized, and Wall Street gets its hands on that money;
2.  Another major war is provoked by the Corporatists...in order to forestall the following--- the next upcoming (and overdue) financial/economic Crash, and action by the IMF and Bank of International Settlements to replace the Dollar with something else to serve as the World's Reserve Currency.

Not only my opinion.  Be Well
p.s.  Happy New Year

Friday, September 9, 2016

Update: The Demise of the Dollar


The following is by Jim Rickards, an international economist, attorney, consultant to gov'ts, NYT Best-Selling author, and expert on the gold market.  It's not the whole piece, and it didn't copy onto this venue properly, but it's readable.  The print size is tiny because that's the only way I could get it onto this page.  [I'm a No-Tech person.]  This is the portion that I felt was most important.
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September 9, 2016
Jim Rickards
 
Dear Reader,
 
I’ve been writing about the rise of world money, called the “special drawing 
right”(SDR), for years. 
 
I’ve especially been giving it a lot of attention recently because of the recent 
G-20 summit that took place in Hangzhou, China, earlier this week. And the IMF 
officially accepts the Chinese yuan into its basket of currencies making up its 
SDR later this month on Sept. 30.

The SDR is part of the global elite plan to displace the dollar as the global 
reserve currency and replace it with a new form of fiat money. This new form of 
money is controlled by the IMF and unaccountable to any elected democratic agency. 
The purpose of SDRs is to create global inflation after years of failure by 
central banks to do the same. 
 
It’s one thing to warn about a development. It’s another thing to see it unfold 
before your eyes…
 
In my 2011 book, Currency Wars, on Page 232, I wrote the following: “The IMF 
presented a blueprint for the creation of a liquid SDR bond market, the antecedent 
to replacing the dollar as the global reserve currency with SDRs. 
 
“The IMF’s paper identifies both potential issuers of SDR bonds, including the 
World Bank and regional development banks, and potential buyers…” (emphasis added). 
That was almost five years ago. 
 
The SDR market I predicted five years ago is taking shape before our eyes. 
The rise of SDRs is no longer a theoretical experiment; it’s happening in real-
time. 
 
The rise of SDRs is no longer a theoretical experiment; it’s happening in real-
time.
On July 15, 2016, the IMF issued a playbook calling for more “M-SDRs” (the “M” 
stands for “market” and is a reference to privately issued SDR instruments, 
as opposed to official SDRs, or “O-SDRs,” issued by the IMF itself). 
 
On Aug. 31, 2016, just six weeks after the IMF greenlight, its sister institution, 
the World Bank, issued SDR500 million (equal to $700 million) of bonds in the new 
world currency. Importantly, the new SDR bonds were issued in China (the lead 
underwriters were four Chinese banks), which has a keen interest in the success of 
the SDR market to undermine the dollar.
 
Why is the World Bank issuing SDR bonds? It’s not because they have trouble 
borrowing. The World Bank is one of the best credits in the world. They can 
borrow whatever they want, whenever they want, in any currency they want. 
 
The reason is so that China can invest in SDR assets. How can China buy SDR bonds 
if no one issues them? The World Bank is just accommodating Chinese demand. And 
the Chinese want to invest in SDRs so they can stop investing in dollars. 
 
There will be many more bond issues like this in the near future. Think of each 
SDR bond issue as another shovelful of dirt on the dollar’s grave.
 
How much longer will investors sit in dollars waiting for the wipeout to come? 
It’s important to diversify into 10% physical gold to preserve your wealth before 
it’s too late.
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The movement away from the Dollar by various major countries has been 
proceeding slowly for a few years now.  Based on this info from Rickards, 
it seems very likely that movement will accelerate this year.  The world 
appears to be tiring of our Fed Gov't and its promulgation/promotion of 
USA Hegemony.  The propagandists here call it "leading the world", but 
anyone with any common sense at all knows better.

Once the Dollar no longer is the world's reserve currency, we are in for 
some very bad (possibly horrendous) economic times.  Be prepared.

Not only my opinion.  Be Well  


Wednesday, September 7, 2016

The International Financial Coterie is Destroying Us


Below the dotted line is a recent email I sent to my son, other family, and a few friends.  It has to do with the International Monetary Fund (IMF) and the International Financial Coterie (IFC), the latter not being an "official" designation (it was coined by the late Professor Carroll Quigley).
First a brief Preface---
If not the most powerful, then the IMF certainly is one of the very powerful financial institutions on the planet.  Most of us have heard of it; but most of us have no clue as to exactly what it does.  I suspect that even fewer of us know much about the IMF's Special Drawing Rights (SDRs).  My son had sent me a piece from the IMF official website, a piece with a brief discussion of SDRs.  The SDR system basically is a "basket" of currencies that acts as an additional reserve to participating world central banks.  SDRs can be exchanged by participating members for freely usable currencies.  On October 1, 2016, China will join the elite SDR members.
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Interesting.
The IMF & SDRs = another Oligarchical racket.  The People never voted on this stuff.  The reason the SDR kinda faded away "a few yrs after" it was formed (in 1969) is because of the "Nixon Shock" (fiat $$$ in 1971).  Now it's just another way to manipulate fiat bucks among the International Financial Coterie (IFC).  [Google "coterie"; I had to.  Had only a vague idea of what it is.  Carroll Quigley, Bill Clinton's mentor at Georgetown U. & a well-respected macro-historian, wrote in 1966 that the IFC (his phrase) ran the world.  He was right, but very few paid attention.]  

The whole mess of politics is a fraud.  Repubs, Dems, Right, Left, etc. ALL (at the highest levels) are puppets of the IFC...sometimes called the "Shadow Gov't", which is recognized by many respected analysts such as Bill Moyers, David Stockman, Michael Hudson, William K. Black, & others.  Even FDR & JFK believed it (one has to dig a bit to find that info).  So do others on the "Right" besides Stockman.  Someday most Americans will wake up to this sad fact.  [The funny thing is, it's not any kind of "grand conspiracy"; it's just kinda an "organic" thing.  The IFC (I suspect) think of it merely as "good business practice".]

Thanks for the piece...revealing history, & straight from the horse's mouth (the IMF).
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I strongly recommend that everyone do a bit of research on Carroll Quigley.  He was a brilliant historian, and specialized in the influence of banking and money on the evolution of civilizations.  His book, Tragedy and Hope, is an in-depth examination of how the Powers-That-Be rule the world...regardless of politics, elections, and any well-meaning institutions.  For the most part, he liked what they did; he considered himself a member of the Elite Class.  That's why he was given access to their private papers while writing the book.  Far from being any kind of "conspiracy theory" nutcake, Quigley was a top-notch researcher who dealt in facts and empirical analysis.

Until we understand the Shadow Government---again, a concept well-accepted by reputable analysts such as Bill Moyers--we will never be able to properly oppose it and have a free and democratic society.  The Elites practice the "Golden Rule":  whoever has the gold, rules.  Currently, it makes almost no difference who is in political office in the so-called "free" countries.  They all kow-tow to the International Financial Coterie...regarding politics, finance, economics, social matters, and war.  [None of it is a "conspiracy".  It's merely some people with common interests, and who think they're above the rest of us, working at times together---but mostly independently or in very small groups---to attain their mutual objectives.  It has nothing at all to do with bizarre rituals, esoteric symbols, and all the other nonsense promoted by some "researchers".  Those people may be well-meaning, but all they're doing is helping the Powers-That-Be by turning off the rest of us to the concept of the Shadow Gov't.]

Not only my opinion.  Be Well

Tuesday, July 14, 2015

The Coup in Greece & Why it's Important to You


The new government in Greece was blackmailed by Oligarchs.  The Greek Gov't did not close the banks; it was the European Central Bank that did so.  Imagine if, for example, the Fed Reserve here closed all banks in the USA.  They would be re-opened only if our Gov't agreed to receiving a large loan AND the following:  raising taxes on everyone; cutting SS (which is paid for by every individual over the span of his/her working life); and selling off public infrastructure to mega corporations.  What do you think would happen?  I think our Gov't would cave in to the demands.

Those at the top of the hierarchy in the Euro-Zone, the IMF, Germany (the richest country in Europe), the European Central Bank, various hedge funds, etc. brought about the coup in Greece in order to continue Debt Bubble economies there and throughout the world.  Greece had been mounting what probably is the first democratic challenge in the modern world to the oligarchical, fiat money, central bank, debt bubble, false economic model, and wealth-transfer-to-the-rich SYSTEM.  It will be interesting to see what the Greek Parliament does now.

On Democracy Now tonight, it was pointed out that Goldman Sachs had been involved in a fraudulent way in getting Greece to qualify financially for the Euro-Zone in the first place.  Goldman apparently made a lot of money on the deal.  That was back when, of course, Greece had an entirely different government.  My point is that what's going on doesn't involve only the IMF, the Euro-Zone, the European Central Bank, and Greece.  Other mega banks are also a part of the whole scenario.

So, why should anyone care, especially anyone in the USA?  Here's why---

The situation in Greece is but one example of what's going on around the world relative to Neoliberalism.  Using various institutions (mega banks, other mega corporations, the IMF, the World Bank, the Bank of International Settlements, the WTO, "Free Trade" Agreements, governments, and others) and rampant Edward Bernays style propaganda, Neoliberals are ensuring the continuation of the largest transfer of wealth in history from the poor & middle classes to the super-rich.   Many methods are used, not the least of which is to make certain that everyone everywhere is in massive debt.  [None of this is a "conspiracy"; most all of it is in plain sight.]

Sooner or later, the worldwide Debt Bubble (public & private) will burst.  History shows us that all financial/economic bubbles eventually do so.  I imagine that Oligarchs either have, or are working on, some new system of money and economics.  Once the crash occurs, though, it may take months or more to institute that new system.

Until We the People in every country stop putting faith in deceitful politicians, this all will continue.  That's not pessimism, it's reality.  That means all politicians in all the traditional, major political parties in every country.  They've had their shot for hundreds of years.  In general, they have failed to enable a just and prosperous existence for all of us on a long-term basis.  It continually amazes me that people support these same, old, hack political parties and their dismal records.  They all, and that includes the Democrats in this country, work for the Super-Rich.

Not just my opinion.  Be Well

Monday, July 6, 2015

KUDOS to Greece...Again


The Greeks did it again.  They told the Oligarchs of the IMF, the European Bank (or whatever it's called), and the various other white-collar criminal frauds involved to stick it where the sun doesn't shine.  Kudos!  It's hardly a surprise--- what country would want to be forced into raising taxes, cutting pensions, and selling off their public infrastructure (to mega corporations) during a time of economic disaster?  I can't imagine that any government would want to do those things.

The Corporate Media here reported that Greece may be forced to issue currency that amounts to IOUs; the implication was that such action is foolish, almost unheard of, and would be disastrous.  Are you kidding me?  The Fed Gov't here in the USA does that every single day.  The USA, thanks to the Fed Reserve, is the largest Debtor Nation in the world.  Every single dollar in our wallets is a debt instrument, an IOU.  Our Govt's debt is so large that the principal will never, ever be re-paid... that is to say, the foreign debt portion of it.  All our foreign creditors know that.  They are happy to get just the interest... in perpetuity.  In our system, that's what personal income taxes are for... Gov't services are financed by other means of revenue, such as excise taxes, fees, impounds, duties, asset forfeiture, corporate taxes, and most importantly, more borrowing.

Every developed country that I know of utilizes a fiat monetary system.  The whole thing is a farce in terms of genuine money, but it's the system the world apparently has settled upon.  It depends on good will... nothing else.  I imagine that Greece has just as much good will as most other countries.  Critics might say that defaulting on a debt does not show good will.  I would respond:  that depends on how the debt is structured, the conditions of acquiring it, and whether or not the creditors involved have good will.  History shows that the IMF, for example, plays a Rigged Game... for the benefit of bankers and other mega corporations.  As far as I can see, no government should ever get involved with the IMF.  Ask South American countries about that... see what they have to say.

The Corporate Media here also imply that Greece leaving the European Union (or Euro-Zone, or whatever the Oligarchs are calling it now) would be an unmitigated disaster for the country.  Corporatists and their Media puppets love to promulgate the idea that life without economic zones, without the WTO, and without the Corporatist version of Globalization is virtually impossible.  What a crock of horse crap.  In my 72 years, I've never seen more blatant, Edward Bernays style propaganda.  It's completely disgusting, untrue, and designed to benefit the Corporatist Oligarchy and their sycophants.

The whole idea of Corporatist Globalization, the IMF, the World Bank, and mega banks in general is nothing but a scam and a fraud visited upon the "little people" (which is exactly what Oligarchs refer to the rest of us as).  Most of the common people of the world are awakening to that fact... despite the fact that the Corporate Media are unrelenting in their oligarchical, Bernays style, Corporatist, anti-democratic propaganda.

Don't believe any of it, Greece.  You can make it.  Most of the world loves you.  Cowboy up, and continue on.

Not just my opinion.  Be Well

Wednesday, April 8, 2015

Iceland & Greece Have it Right


Iceland is well on its way to a complete economic recovery.  Greece has just started, but is on the right path.  How are economies saved or returned to a healthy state?  The answer to that has several facets; the solution to the problem must be based on History, Logic, and plain common sense...as follows.

1.  Mega Banks are not the Holy Grail of Economics.  If they run their businesses into the ground by making bad investments, they should be allowed to fail.  Bailing out casino-type banks is a horrible idea... it saves the rich & powerful, not the economy.  The "too big to fail (and jail)" banks here in the USA became 38% larger than they were before the 2008 Crisis.  Most of them took their bailout money AND the trillions of dollars loaned to them at POINT 25 percent interest by the Fed Reserve and used it to:  give huge bonuses to top management; engage in more casino capitalism; loan money back to the Fed Gov't; increase their lobbying efforts in DC; and buy up other banks.  Did they create any jobs?  Almost none.  In general, Financialization does not create jobs or benefit the economy in the long term.

2.  Whether owed by consumers or governments, in a crisis debts either should be written down to amounts that feasibly can be paid back, or totally forgiven.  Selling off public infrastructure to private companies and/or instituting or coercing "austerity" will not benefit the economy or the People.  About 70% of our economy here in America is driven by consumer spending; I'm guessing it's a similar figure in most other developed countries.  For an economy to be saved or to recover, people have to have money to spend.  Saving a bank that can afford to pay a $30 billion civil fine for FRAUD is not going to save the economy.  Such a bank should be left to die, and the top management (where appropriate) should be sent to prison.

3.  Stop drinking the Edward Bernays style Propaganda Kool Aid put out by Gov't elites and the Corporate Media saying that the sky will fall and the world economy will crash if speculative mega banks are not saved.  That's a complete fairy tale... at best, it's ignorance... at worst, it's blatant deceit.  Many economists agree that no such thing would have happened.

4.  Never get involved with the IMF.  It's nothing more than an oligarchical racket.  If you're already involved, never accept their "structural adjustments".  Years ago, several countries in South America learned that lesson the hard way.

5.  Understand that Neoliberals in both the public & private spheres are creating economic structures that are rushing countries into NeoFeudalism.  Very few politicians are opposing them.

6.  In a very real sense, banks should be a public utility.  They should be loaning money to encourage manufacturing on home soil, rather than gambling on derivatives, foreign currencies, and other insider scams that create no jobs.  In terms of the economy, the bane of the last 30-40 years has been Financialization... paper shuffling for the benefit of the Super-Rich.  We need public banks.  Private, casino-capitalism type banks could still exist, but should not be allowed to use depositor funds for speculation OR to get beyond a certain size.  Reinstate Glass-Steagall.

7.  Understand that agreements such as the proposed TPP are a disaster for economies and the People.  They benefit the Oligarchs at the expense of the rest of us.  Don't believe politicians like Obama or McConnell, who both lie about the TPP.  Even our new Secretary of Defense either is ignorant about the TPP or lying about it.  See citizen.org/tpp

8.  Stop being partisan in politics.  Using America as an example, at the highest levels the politicians are almost ALL on the Neoliberal Team... the Team benefitting Oligarchs at our expense.  Consider this:  80% of us are in favor of raising the minimum wage; 90% of us want the Mega Banks broken up; 80% believe our agreements regarding NAFTA and the WTO should be revised or dumped; and, a vast majority (I forget the %) of us want corporate criminals to be sent to prison...which usually does not happen here.  So, what are our so-called "representatives" doing about all that... not much at all.  42% of Americans now are neither Republicans or Democrats; rather, they are Independents.  The strategy of the Oligarchy, which is using hot-button social/cultural issues to Distract-Divide-Conquer us, is beginning to fail.  Many, perhaps most people, are seeing that the economy is the number one issue in this country.  They are fed up to the gills with stagnant wages while the Rich & Powerful have seen a 700% increase in their incomes in the last couple of decades.

9.  Finally, this next statement is obvious, so consider it simply a reminder.  To determine those responsible for any economic or financial crisis---and to get a clue as to how to reverse that crisis---just follow the money.

Not just my opinion.  Be Well

Tuesday, February 10, 2015

KUDOS to the New Leader of Greece!


Congratulations, Greece!  Your new leader is a guy who is telling the Neoliberals to go to hell.  Every country, including the USA, needs just such a person.

Via the IMF, and/or central banks, and/or other mega banks, Neoliberals at the highest levels (including the Democrats and Republicans here) through deceptive practices entice countries to take on massive debt.  Then, when the debt is unsustainable, these same mega banks and the IMF coerce countries to undergo austerity or in some cases sell off their public infrastructure to private, mega corporations.  It boils down to this:  Neoliberals save the mega banks, not the economy...Wall Street, not Main Street.  All for Globalization and privatization.  The ultimate Goal is the world as one giant Business...and none of it is a "conspiracy".  For the most part, it's in plain sight.

As David Rockefeller stated publicly in 1991:  "Surely it is preferable to have the world run by unelected elites than by the corrupt politicians of today."... that's pretty plain.  Despite that, Neoliberals often are deceptive.  For example, here in the USA they go by the labels of "Democrat", "Republican", "Liberal", and "Conservative".  They use Edward Bernays style Propaganda to dupe people into accepting things such as N.A.F.T.A., T.A.R.P., T.P.P., and T.A.F.T.A., all of which serve the Oligarchy, not Main Street.

The Neoliberal Congress and Fed Reserve in this country have given us an eighteen trillion dollar debt... and it's still growing.  There is however, no visible austerity here.  Instead, it's just under the facade of "the economy is recovering" Propaganda.  Here's how it's "recovering":
1.  with continued Financialization, which transfers wealth from the Middle Class to the Upper Crust;
2.  with continued sale of bizarre Financial Derivatives, which create no jobs;
3.  with continued debasement of the dollar;
4.  with a massive Trade Deficit;
5.  with continued off-shoring of factories and jobs;
6.  with the creation of lower-paying permanent jobs, temporary jobs, and part-time jobs;
7.  with continued deficit spending;
8.  with an estimated one quadrillion dollars of Financial Derivatives still out in the Market... many bubbles just waiting to burst;
9.  with QE-4 waiting in the wings;
10.  with Gov't promoting another housing bubble;
11.  with someone or some institution (or a combination) manipulating the crude oil market; and,
12.  with rolling back regulations on the mega banks that caused the 2008 Crisis.
This is not what I would call a recovery.

[NOTE:    The 2008 Crisis was not caused by sub-prime mortgages; they were simply the trigger.  The underlying cause was the fact that mega, Neoliberal banks sold trillions of dollars worth of essentially worthless Derivatives.  Many (or perhaps most) of them were credit default swaps which were supposed to "insure" investors against losses... but didn't.  The mega banks knew they couldn't possibly serve that function when they sold them to pension funds, cities, counties, countries, and other investors.  It was a massive fraud.  Under the Corporatist Obama here, almost no one has been held criminally liable.  Plus, things are now set up for the whole scam to happen again... I'm guessing within five years...easily.]

Neoliberals and Neoliberalism must be confronted and resisted.  In order to do that, we must stop drinking the Propaganda Kool Aid.  First Iceland, and now Greece are showing us the way.  Heartiest congratulations to both.  There is no reason whatsoever that Globalization must take the form that is espoused by Neoliberals.  There are other options.

Not just my opinion.  Be Well


Sunday, January 26, 2014

USA Democracy, State-Corporate Complex, & Bernays Propaganda [and a Note on Chris Hayes]

First, a note on my previous post and Chris Hayes.  After viewing about an hour's worth of MSNBC Chris Hayes clips on YouTube, I've concluded that Mr. Hayes appears to have two different personas.  When he's a guest on Democracy Now and other non-corporate venues, talking about Twilight of the Elites, his message hits the mark & he definitely has credibility.  On his own show on the prostitute corporate medium MSNBC, he's mostly an apologist for Obama...and fails to recognize (or perhaps conceals the recognition) that Obama is part of the Meritocracy that he deplores so in his book.  That's my take on it, anyway.
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Let's begin by recognizing the unfortunate fact that the USA is no longer a Constitutional Republic.  About half of everything that the Fed Gov't (at the highest levels) does is unquestionably unconstitutional.  In large part, both Democrats and Republicans ignore the Constitution and instead pass laws or issue Executive Orders that they believe trump the Supreme Law of the Land.  Once in a blue moon, to their credit, they do get things right.  For example, just recently a Congressional Panel determined that the NSA's bulk collection of data is illegal.  That's rare.  Of course, don't look for anything significant to be done about that finding.

Despite the propaganda from the Gov't and Corporate Media, and despite the belief of most of our population, let's also recognize that neither is our form of gov't a Democracy...at least, not a genuine Democracy.

Not long after WW I, Walter Lippmann, writing about politics in America, described the general public as "ignorant, meddlesome outsiders" who should only be "spectators" in the political process and leave such matters to the ones who know what they're doing...in other words, the smart, informed people...the Meritocracy.  Lippmann was part of the intelligentsia at the time; he was known as the "Dean of American Journalism"...and was a so-called "Progressive".  So much for American style Democracy, at least, from his point of view (which was quite influential).

In 1928, Edward Bernays found a publisher for his book, Propaganda: Molding the Public Mind.  In it, he made the case that propaganda is essential to the successful functioning of any Democracy.  He said that the true rulers of the country are the ones who control the propaganda; the elites bought the proposition lock, stock, & barrel.  Bernays later was recognized as the Founder of the Public Relations industry.  His type of propaganda played a major role in our Govt's overthrow (in the '50s) of the democratically elected President of Guatemala.

The State-Corporate Complex flourished in the '50s and '60s...and beyond.  Ike warned us about it, but We the People pretty much ignored his warning.  The molding of the public mind was in full swing by then, with one of the promotions being that we lived in a "Democracy".  The elites' version of democracy is this:  every two years or so, the "ignorant, meddlesome outsiders", aka, the "spectators" truck on over to a designated site and pull one of two levers...and then go home.  Each lever represents a candidate chosen, groomed, and financed by the Meritocracy...and sold to the public via Edward Bernays style propaganda.  The public doesn't really know where either candidate stands politically...because all info given to the public is based on polls, studies, & focus groups that determine just what it is that the public wants to hear.  Adjustments are made for the phony differences between the two candidates.

By the '80s, voters weren't even really "spectators" anymore...because the Reagan and Thatcher administrations became private and secretive.  How many of you know about the Reagan-Thatcher concoction known as the "Washington Consensus"...it had a major impact on the world.  It promoted Neoliberalism around the globe, much to the dismay of most third world countries.  Not too many folks "spectated" that one.

By the '90s, transnational corporations (via institutions such as the GATT, WTO, IMF, and World Bank---that are completely secretive & absolutist--- as well as so-called "Free Trade Agreements") were creating a completely non-democratic, worldwide economic structure whose rules trumped U.S. laws.  That's continuing on steroids today.  So much for American style Democracy.

During all of this time, right through to the present, the American public (and the world public) is fed a steady diet of propaganda which basically and simply says, this is all good for you...and it will "create jobs".  What a deceit and a scam.

So, what's to be done about it?  Well, the first step is to stop drinking the Propaganda Kool Aid.  I'll say it 'til I'm blue in the face.  :)

Just my opinion.

Wednesday, September 1, 2010

Globalization: Part II, Players and Methods

The Players---

I'm sure you gathered from reading Part I that the IMF and World Bank are key players in the process of Globalization. [I consider them quasi-governmental bodies, rather than non-governmental.] Add to that the U.S. Treasury and Federal Reserve, as well as the central banks of most of the other industrialized countries. It is believed by many serious writers that the IMF/World Bank are merely extensions of the policies of the U.S. Treasury, the Fed Reserve, U.K.'s Treasury, and the U.K.'s Bank of England.

While the above institutions are important, they are no more important than the non-governmental bodies: the transnational mega corporations, the Council on Foreign Relations (CFR, founded in 1922) and its U.K. counterpart, the Royal Institute of International Affairs (aka, Chatham House), and the Trilateral Commission (founded in 1973 by David Rockefeller and Zbigniew Brzezinski). The CFR and Chatham House are the anglophile Round Table Groups, described in the late Professor Carroll Quigley's 1966 book, Tragedy and Hope. The best quote from the book: "The tragedy is that we no longer have a representative government in this country, or any country; the hope is that the little people will come to accept that, because there is nothing they can do about it." Again...it was published in 1966. Quigley also claimed that the CFR was a front for the J.P. Morgan Company; keep in mind that the good professor (Bill Clinton's mentor at Georgetown University) was a very well respected historian and scholar.

In 1991, David Rockefeller stated publicly, "Surely it is preferable to have the world run by unelected, supranational, [business] elites rather than the nations of the past with their corrupt politicians." That is the goal of Globalization. The function of groups such as the CFR, Chatham House, and the Trilateral Commission is to provide the philosophical underpinnings, the unquestionable academic justifications, for the governmental policies that result in the implementation of Globalization. Consequently, the CFR publishes academic-level papers such as Building a North American Community (meaning, the North American Union), The End of National Currency, Bretton Woods II: Does the World Need a New Monetary System? (authored by Larry Summers, Obama's chief economic advisor), and Global Economic Governance. The Trilateral Commission pens scholarly papers such as Global Governance, Global Redistribution of Power, and Sovereignty and Intervention. The tremendous influence of these groups on governmental policy cannot be overstated; for all intents and purposes, essentially they formulate most of our nation's foreign policy and perhaps a good deal of our monetary policy.

The Methods---

There seems to be no particular chronological order to these methods; at times one must precede another, but mostly they are all taking place more or less simultaneously. I'll list them here, then expand on each one later: selection of Globalist candidates for national office, and then the marketing of them; introduction and justification of Globalist policies to the intellectual elite of the country; use of IMF/World Bank "Structural Adjustment Programs", thus facilitating U.S. corporate expansion to poor countries; Trade Agreements and the WTO (World Trade Organization); the use of "Economic Hit Men"; facilitating coups in uncooperative countries; the maintenance of approximately 800 U.S. military bases on foreign soil; and finally, invasion of uncooperative countries (which is a last resort).

Here's what a national election amounts to in the U.S.: the heads of transnational corporations and other members of the Oligarchy/ Corporatocracy, having identified and groomed pre-selected candidates from the two major parties, make massive campaign contributions (indirectly, through PACs) to both. One candidate or the other may be favored from time to time, but generally either one will do. [There is arguably only one major political party in the U.S.: the Transnational Mega Business Party, with a Republican faction and a Democrat faction.] As FDR once wrote to a friend, "In this country, candidates are selected, not elected." The campaign contributions are necessary because the candidates must be marketed to the voting public, and that requires expensive PR firms and multi-media advertising. PR firms run campaigns, not the DNC, DLC, or RNC. The public usually is not bothered with any details regarding Globalization.

Globalist policies must be "sold" to the intellectual elites because those elites are extremely influential in the Corporate Media, educational institutions, various community groups, the entertainment industry, and government at all levels. A relatively small percentage of the American public actually pays attention to important public matters, and it's useful to have them supportive of Globalist tools, e.g., NAFTA. As mentioned above, the intellectual think tanks (CFR, etc.) "justify" policies and tools to the intelligentsia via scholarly papers and even books. Often the mainstream, Corporate Media present summaries of think tank ideas to the general public.

A key method in terms of the Third World is to convince poor countries to take on massive IMF/World Bank loans...for "development". Attached to each loan or interest reduction on a previous loan are conditions, Structural Adjustment Programs (SAPs), which require actions such as: cutting gov't expenditures, devaluing the currency, privatization of State-owned enterprises, lifting of trade restrictions, enhancing the rights of foreign investors, gearing the economy to exports, and removing price controls and/or State subsidies. Critics have referred to this as virtual extortion. As a consequence, Poverty Reduction Strategy Papers (PRSPs) have replaced SAPs; however, their contents more often than not turn out to be essentially the same as the old SAPs. The money loaned doesn't go to job development or farm aid, rather it ends up in the wallets of companies such as Bechtel, Hochtief, or Halliburton. They are hired to build ports (for those exports), roads (to get the goods to the ports), water systems, and other infrastructure.

The use of Trade Agreements such as NAFTA to implement Globalization requires no discussion, except to say that there is some controversy regarding the status of NAFTA. Canada and Mexico claim that it's a Treaty; however, it received only 61 votes in the Senate. A treaty requires the approval of 67 Senators. Whether or not it's a Treaty is important because Treaties override U.S. laws.

The World Trade Organization (WTO) plays a major role in the implementation of Globalization. The WTO, headquartered in Geneva, Switzerland, began in 1995 (replacing GATT) and is the only international body dealing with trade between and among nations. It makes the rules for 97% of all world trade, and publishes research papers such as, The WTO and Direct Taxation. No country can override the WTO's rules. Some critics have called the WTO an embryo world government, and claim that it favors rich countries over poor ones. In any case, it has impacted the sovereignty of member countries. A "treaty" of the WTO, the General Agreement on Trade in Services (GATS), extended the world trading system to include the service sector; all WTO members are signatories to GATS. The GATS Treaty is the primary tool of the WTO for the implementation of privatization of services such as municipal water delivery and delivery of electricity.

Economic hit men (a la John Perkins, Confessions of an Economic Hit Man) are used to essentially extort/blackmail uncooperative countries, primarily poor countries. The "hit man" will point out to the leader of the country that his country has a World Bank/IMF loan that cannot possibly be repaid, thus the leader needs to do one or more of a number of things, such as voting a certain way in the U.N. on some issue, or favoring some private contractor regarding a large in-country project bidding process. "Oh, by the way, here's $100,000 for your trouble." Mr. Perkins was never 100% certain who his employer was, but eventually assumed that it was the CIA. His book was a NYT bestseller.

Coups as a tool of Globalization should be self-explanatory. The example of Indonesia was given previously. Sukarno would not cooperate with the IMF, so he was booted out. [Same thing with Allende in Chile.] The dictator Suharto in Indonesia allowed U.S. companies to move in and utilize virtual sweatshops for the manufacture of goods for stores such as the GAP and Old Navy. The U.S. and U.K. have participated in coups in fifty countries since 1953, when the CIA engineered the ousting of the democratically elected leader of Iran and installed the Shah. The Shah purchased millions of dollars of armaments from the U.S. and, of course, supplied us with a portion of our oil requirement.

The maintenance of about 800 U.S. military bases around the world is tied in to the final method: invasion of uncooperative countries as a last resort. A prime example is Operation Just Cause, the invasion of Panama in 1989. The dictator Noriega had become uncooperative, especially relative to Nicaragua, thus his drug informant days for the CIA were used as an excuse to invade...without admitting that he was a CIA operative. It all came out a few years later in a few books and the documentary film, Deception in Panama. At the time of the invasion, George Bush the elder was President here, Dick Cheney was the Secretary of Defense, and Colin Powell was the Chairman of the Joint Chiefs of Staff.

Other examples include our invasions of Afghanistan and Iraq. While 9-11 provided a fortuitous reason for the invasion of Afghanistan, Taliban representatives were told months before that date, "If you don't accept our carpet of gold [for a pipeline easement across Afghanistan], we'll give you a carpet of bombs." (According to a whistleblower) Plus, according to Brzezinski in 1998, control of Afghanistan, Iraq, Uzbekistan (where we now have a military base) and a number of other -stans in Central Asia was a "geostrategic imperative for American primacy". Read into that what you will. In the case of Iraq (which, even according to Bush, had nothing to do with 9-11), Saddam, our former ally, had become uncooperative relative to the petro-dollar. Prior to the invasion, he was on the verge of accepting Euros for oil. If allowed to proceed, that would have ended the petro-dollar and the dollar as the world's reserve currency. That, in turn, most likely would have resulted in a series of events ending with the collapse of our dollar. Plans to invade Iraq were formulated months before 9-11. Saddam, our big buddy in the '80s, had to go. [In the '80s, we supplied him with weapons in order to punish Iran for the overthrow of the Shah and the holding of American hostages. The result was the eight-year Iraq-Iran war.]

In Part III of this series, key understandings will be presented in order to tie everything together. In addition, there will be more on Latin America.

Tuesday, August 31, 2010

Globalization: Part I, Beginning Seeds

Some people think not, but history is important when attempting to understand current events. Globalization arguably and presently is the most significant event relative to the future of our Republic and our individual sovereignty. Here, in Part I, I'll present the beginning seeds of the phenomenon known as Globalization or Globalism.

In 1944-45, as a result of the Bretton Woods Agreement, the International Monetary Fund (IMF) and what finally came to be known as the World Bank were created to help rebuild Europe after WW II. The Agreement, drawn up by the UK and the USA, established the rules/regulations for an international monetary system. Some years later, the IMF and the World Bank began making loans to poor countries, the Third World...and those loans had strings attached. More on that in Part II.

In 1965, General Suharto launched a successful coup against Sukarno in Indonesia, a country rich in resources, potential markets, and potential labor. The coup was known about beforehand by both the UK and the USA, but not revealed to Sukarno. [Sukarno, a strong nationalist, had kicked the IMF/World Bank out of his country...refused their "aid".] After the coup and over time, between 500,000 and one million Indonesians were murdered by the Suharto regime. Our CIA supplied a list, which facilitated the beginning of the massacre, of about 5,000 Indonesian communists to the Suharto regime. During that time, loans were made to Indonesia by the IMF and World Bank...with strings attached.

In 1967, Time-Life Corporation sponsored a meeting in Switzerland, the purpose of which was to plan the corporate takeover of Indonesia...that is to say, the economic (not political) takeover. David Rockefeller, a Council on Foreign Relations (CFR) member, representing Chase Manhattan Bank attended, along with dozens of other business luminaries--- representatives of Lehman Brothers, various oil companies, food companies, ALCOA, U.S. Steel, Siemens, various other banks, etc. General Suharto had his representatives there as well. [This is a classic example of Fascism in action--- mega corporations colluding with government cronies in order to control both the People and the economy.]

The large group in Switzerland divided up according to various sectors: banking and finance, food, consumer goods, oil and energy, etc. Each smaller group then hammered out the rules for doing corporate business in Indonesia. As part of the deal, the government of that country obtained another series of loans from the IMF/World Bank.

In 1973, the USA's CIA helped overthrow the democratically elected President of Chile, Salvador Allende...because he was a Socialist, and probably had plans to nationalize U.S. businesses in Chile. A brutal dictator, General Pinochet, was installed; some time later, Pinochet's government obtained loans from the IMF/World Bank. Pinochet ruled for seventeen years. Henry Kissinger, a CFR member, chaired the meetings in the Nixon Adminstration that dealt with covert operations in Chile prior to the coup. Also prior to the coup, a Pepsi Cola franchise owner in Chile who also owned a newspaper (which was thought to be a CIA front) was called to DC to update Dr. Kissinger on the political situation.

In the 1980s, Thatcher of the UK built up her country's arms business and made a lot of armament sales to General Suharto of Indonesia. Also during that time, Thatcher and the USA's President Reagan laid the groundwork for what became known in 1989 as the "Washington Consensus"---a series of policies that supposedly would lead to global prosperity and unfettered economic growth by means of deregulation, privatization and trade liberalization (so-called "Free Trade") around the world. In the Third World, such a lofty goal would be attained through use of the IMF and the World Bank. The "Structural Adjustment Programs" of those two institutions supposedly would be the key to success. Details in Part II of this essay.

"Don't Believe Him"

The Nazis in the 1930's and 1940's used exactly the same propaganda tactic as is used by Trump:  repeat a lie over & over, and m...