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"The new paradigm" economy concocted by the Harvard-connected Clinton Administration appointees in the U.S. Treasury, was designed to extend the federal government’s meddling hand worldwide through its control of the multilateral and bilateral public lenders, enabling government a free ride on the back of a re-structured U.S. economy grown vigorous and ever more innovative on account of the benefits the Reagan era’s low taxation, moderate inflation, reduced regulation and expanding world trade had delivered. The overall scheme works as follows:
Sell assistance programs on an alleged "free market" and "humanitarian" basis by awarding government grants to those academics who can be relied upon to supply the intellectual camouflage politicians and journalists then repeat ad nauseum to a distracted public, move the IMF and the World Bank to target, induce target to raise taxes, fine tune target’s central banking operations, encourage borrowing and debt creation through the target’s government and its national banks, allowing IMF lending to pay yields if necessary; induce target to privatize national property while building a flimsy, artificial "infrastructure" for an equities market good enough to attract high risk foreign investors. Once the target nation’s government flounders, step back and watch speculators assert discipline through a run on the target’s currency. The subsequent devaluation delivers, in turn, a flood of cheap imports to American manufacturers and producers.
The finishing touch on the swindle is to confiscate more money from G-7 citizens (the lion’s share from Americans) to pay for what is said to be an "essential" IMF bailout; thereby allowing Uncle Sam’s IMF minions to entrench themselves more deeply in the target’s government. Taxes are raised, the population struggles beneath indebtedness, government funding demands and the inevitable domestic inflation a devaluation delivers. Western neo-colonialists then bully the target over its rapidly compounding debt in order to extract yet more property. Once successful, the world’s insiders then turn around and deliver cheap shares from privatizations and initial public offerings into the maw of U.S. mutual funds and portfolio investors. US TAXPAYERS GET HIT COMING (foreign aid) AND GOING (bailouts) and innocent foreigners’ property is finagled away either from, or on account of, inattentive and corrupt leaderships. THE BIG WINNERS ARE THE WORLD'S INCREASINGLY CORRUPT AND COZY GOVERNING CLASS, INTERNATIONAL BUREAUCRACIES AND GLOBAL BANKS.
SOUND FAMILIAR? this is from Anne Williamson's testimony on the collapse of the soviet union before the Committee on Banking and Financial Services of the U.S. House of Representatives, presented Sept. 21, 1999.
Last edited by floridasandy; 05-26-2009 at 07:17 PM..
Well, I think the choices are that you have are either:
1) An over riding global conspiracy requiring the capitulation of thousands of high income individuals following an over riding uber plan controlling the over riding of all the worlds money and interests. All of which following it without one iota of deviation that involves a club of various names that all rich people belong too. That has never had one shred of evidence because they spend millions of dollars tracking and controlling the billions of average Joe's who aren't in the club and killing anyone who suspects, except for the unproven ramblings of one person who breaks the code wide open if they can convince people.
Plus the plan to do it must be incredibly complex, involving the thousands of people to work at 100% capacity in perfection in roles that fit together like a jigsaw puzzle....no screw ups/unexpected results. All the rich bankers of the world must do it all day every day.
Plus I'm a misanthropic believer in Occam's Razor.
2) People are selfish, stupid and greedy.
I guess with 1 you can blame some one else keeping you down if your life and what you get out of life doesn't correspond to your wishes of being rich, while simultaneously making a villain those who became rich and gained leadership roles...and feel like the main protagonist in a movie.
oh right, the soviet union did not collapse and the united states is not in trouble.
i don't see how you can deny that there is a transfer of wealth from the middle class to the elite via all of these bailouts. the scare tactics used (that our economy would collapse otherwise) were dishonest. look at the auto bailouts for example. we were told that they had to be done or the economy would collapse, and now we are being told that it will be okay. that taxpayer money has just disappeared, never to be seen again! i am certainly not implying that most bankers are crooks, but that there is an elite level of bankers who are influencing the world economy to the detriment of the average workers.
it might be worth your time to read the entire article, including this:
The improbable yields (290 percent on 3-month paper at one point) on the Russian market’s GKO instruments were paid with US taxpayers’ money via IMF loans. Guess where all investment went? By yielding those kind of non-market returns, the bond market insured that all the country’s resources and all that it was capable of attracting went to the support of the state, just as Tsarism and Communism had done previously.
Any pyramid scheme remains viable only so long as its base continues to expand and it is that fact which has driven US foreign policy for much of the past century. Since politicians and investment bankers both have an interest in promoting deficits and in forcing taxpayers to redeem government debt, they were quick to come to terms on the advantages of underwriting foreign debt along with new markets and natural resources from abroad. Taxpayer-subsidized globalism then is not a new phenomenon, but it has reached an apogee of sorts under the guiding hand of the opportunistic Clinton Administration.
Once the criminal financial flows from Russia and Asia were combined with the easy money common to presidential election cycles and began pumping into the economy in the spring of 1995, it wasn’t long before asset inflation hit U.S. corporate share valuations. Throughout 1995 and 1996, the money supply kept rising, and along with it mutual fund holders’ paper wealth. Attracted by the double-digit yields found in risky, unregulated environments abroad, the banks - given the election year liquidity the Fed wished to export - lent unwisely and to excess. The moral hazard the 1995 $40 billion bailout of Mexico unleashed (the debt was refinanced, not repaid, with additional IMF lending and proceeds from eurobond sales in 1996) led to a tripling of international capital flows. Investors took greater and greater risks in the belief that the "new paradigm" economy promised taxpayer-provided redemptions if necessary. The consequence of all those dollars frolicking in exotic locales is a $141 billion bailout for Asia, more than $20 billion for Russia in 1998 alone, and $30 billion for Brazil in 1999.http://www.russians.org/williamson_testimony.htm
Last edited by floridasandy; 05-27-2009 at 04:27 AM..
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