>The End of America - Porter Stansberry Research | HERE
>The End of America" Full Length HQ Film | HERE
>Gold Dinar, Silver Dirham | HERE
>Gold Dinar and Silver Dirham "threaten" capitalism | HERE
>The Money ChangersHERE <[hacked/blocked/banned/censored] *-but you can still reach that informations via this link: HERE
>The Money Masters [Full Documentary] | HERE
>"The Secret of Oz" | HERE
>US on the brink of default | HERE
>U.S. National Debt Clock : Real Time | HERE
!!!>>>Bombimg of Lybia - punishment for Ghaddafi for his attempt to refuse US dollar | HERE <<<!!!
>LIBYA: ALL ABOUT OIL, OR ALL ABOUT BANKING ?* - HERE
!!>>Peter Schiff: "We're selling our souls to the devil" | HERE
Future of America: Harder Than Anything You’ve Experienced In Your Lifetime | HERE
The U.S. Dollar is DONE! | HERE
The Coming Destruction of U.S. Pensions | HERE
#> Webster Griffin Tarpley | HERE
!!>>BE AWARE !!! LOOK WHAT'S GONNA HAPPEND TO YOUR COUNTRY IF YOU ARE NOT WELL PREPARED AGAINST THAT !!! HERE <movie deleted---> same movie here: !!>>
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BRIC NATIONS DUMP THE USD
The Economic Times reports: [ SANYA: Brazil, Russia, India, China and South Africa - the BRICS group of fastest growing economies - Thursday signed an agreement to use their own currencies instead of the predominant US dollar in issuing credit or grants to each other.The agreement, the first-of-its-kind, was signed at the 3rd BRICS summit here attended by Indian Prime Minister Manmohan Singh, China's Hu Jintao, Brazil's Dilma Rousseff, Russia's Dmitry Medvedev and South Africa's Jacob Zuma."Our designated banks have signed a framework agreement on financial cooperation which envisages grant of credit in local currencies and cooperation in capital markets and other financial services," Manmohan Singh told reporters at a news conference with other BRICS leaders.Manmohan Singh said: "We have had very fruitful discussions. We have reviewed the international situation, discussed international economic, financial and trade issues, the challenges of sustainable development, food security, energy security and climate change."The grouping is significant because it is expected to have a healthy global presence in the future as the member-countries are the fastest growing economies and are projected to contribute 48 percent to the global economy in the next decade.At present they account for 40 percent of the world's population and 20 percent of the global Gross Domestic Product (GDP). ]Let’s recap: since Reagan was inaugurated more than 1/2 of the US manufacturing jobs have been “offshored” through NAFTA & GAT, these factory jobs went to China, India and smaller Asian countries, US factory workers are now competing with $2 per day slaves, these countries possess 40% of the world’s population therefor there are a few generations of $2 slaves waiting for a spot on the factory floor.Now, what happens when the very people the US corporations have exploited by setting up slave factories in their back yards decide to put their foot down and change the rules? Well it seems like a lot can happen because they are now saying the USD is no longer good in their neighborhood. That definitely puts a bump in the road for the USD and the world’s willingness to hold them. If the world becomes less willing to hold USD in their reserves odds are they will begin to dump them back into the market and like a high pressure game of ‘hot potato’ the countless trillions of paper USD printed in the FED’s “Multiple QE Campaigns” will bury the United States and cause HYPERINFLATION in the blink of an eye. Establish your “Weak Dollar Insurance Policy” now in gold & silver and participate in the sound money debate with alternative currencies.
READ ABOUT THE BRIC NATIONS DUMPING THE USD HERE | HERE
!!>>When faith in US dollar and US debt is dead the game is over
31.05.2011 | HERE
A day is coming when the rest of the world will decide that it no longer has faith in U.S. dollars or in U.S. debt. When that day arrives, the game will be over. Traditionally, two of the biggest things that the U.S. economy has had going for it were the U.S. dollar and U.S. Treasuries. The U.S. dollar has been the default reserve currency of the world for decades. All over the globe it was seen as a strong, stable currency that was desirable for international trade. U.S. government debt has long been considered the "safest debt" in the entire world. Whenever there was a major crisis, investors would flock to U.S. Treasuries because they were considered a rock. Sadly, all of this is now changing. Today the rest of the world is losing faith in the U.S. financial system. In fact, even the United Nations is now warning of the collapse of the dollar. But if the U.S. dollar and U.S. Treasuries collapse, that will be an absolute nightmare for the U.S. economy. If the rest of the world does not want our dollars someday, then what are we going to give them in exchange for all of the oil and all of the cheap imported goods they send us? If the rest of the world does not want our debt someday, then how in the world are we going to be able to continue to consume far, far more wealth than we produce?The rest of the world is watching the U.S. government run up record-setting budget deficits and they are watching the Federal Reserve print money like there is no tomorrow and they realize that the U.S. financial system is slowly imploding.As mentioned above, now even the United Nations is warning that the U.S. dollar could collapse. The following is a brief excerpt from a recent news report put out by Reuters....The United Nations warned on Wednesday of a possible crisis of confidence in, and even a "collapse" of, the U.S. dollar if its value against other currencies continued to decline.In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system.But it is not just the United Nations that is concerned about the U.S. dollar.On April 18th, Standard & Poor's altered its outlook on U.S. government debt from "stable" to "negative" and warned that the U.S. could soon lose its prized AAA rating.At one time, it would have been unthinkable for Standard & Poor's to do such a thing.But today it is amazing that it has taken them so long to make such a move. U.S. government finances are falling apart.When the credit rating of U.S. government debt starts declining, interest rates will go up. Just ask the government of Greece how painful that can be. Today, Greece is paying over 16 percent on 10 year bonds.The following is what John Williams of Shadow Government Statistics recently had to say about why Standard & Poor's issued such a warning about U.S. government debt....S&P is noting the U.S. government's long-range fiscal problems. Generally, you'll find that the accounting for unfunded liabilities for Social Security, Medicare and other programs on a net-present-value (NPV) basis indicates total federal debt and obligations of about $75 trillion. That's 15 times the gross domestic product (GDP). The debt and obligations are increasing at a pace of about $5 trillion a year, which is neither sustainable nor containable. If the U.S. was a corporation on a parallel basis, it would be headed into bankruptcy rather quickly.Look, the rest of the world is not stupid. They know that the U.S. government is hurtling towards financial disaster. The appetite among foreigners for U.S. government debt is decreasing rapidly.In fact, according to Zero Hedge, foreigners are dumping U.S. debt at a very rapid pace right now.In addition, the cost to insure U.S. debt has risen sharply in recent days.Right now, the Federal Reserve has been buying up most new U.S. government debt with dollars that it has created out of thin air. This is a giant Ponzi scheme, and it is a major contributing factor to the decline of faith in the U.S. dollar.The dollar has fallen by 17 percent compared to other major national currencies since 2009. What makes that fact even sadder is that all major currencies have been rapidly losing value compared to hard assets over that time period. The dollar is just sliding faster than almost all of the other global currencies that are constantly losing value as well.Anyone with half a brain could have seen that this would be the end result of reckless government borrowing, but unfortunately our politicians have been ignoring this problem for decades.Now a day or reckoning is fast approaching and it is going to be very painful.The U.S. government has piled up the biggest mountain of debt in the history of the world. Just consider a few shocking facts about this unprecedented debt....*If the U.S. national debt (more than 14 trillion dollars) was reduced to a stack of 5 dollar bills, it would reach three quarters of the way to the moon.*The U.S. government borrows about 168 million dollars every single hour.*If Bill Gates gave every penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.*It is now being projected that by the year 2021, interest payments on the national debt will amount to $1.1 trillion dollars a year.
In a previous article on The American Dream, I detailed some more absolutely horrifying statistics about U.S. government debt....
#1 If you divide the national debt up equally among all U.S. households, each one owes a staggering $125,475.18.#2 The federal government has borrowed 29,660 more dollars per household since Barack Obama signed the economic stimulus law two years ago.#3 During Barack Obama's first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.#4 In the new budget that the Obama administration has proposed, the U.S. government would spend 3.7 trillion dollars in 2012 and by 2021 the U.S. government would be spending a whopping 5.6 trillion dollars per year.#5 The U.S. government currently has to borrow approximately 41 cents of every single dollar that it spends.#6 The total compensation that the federal government workforce earned last year came to a grand total of approximately 447 billion dollars.#7 The U.S. national debt is currently rising by well over 4 billion dollars every single day.#8 The U.S. government is borrowing over 2 million more dollars every single minute.#9 The U.S. national debt is over 14 times larger than it was just 30 years ago.#10 Unfunded liabilities for entitlement programs such as Social Security and Medicare are estimated to be well over $100 trillion, and nobody in the U.S. government seems to have any idea how we are actually even going to come close to meeting all of those obligations.#11 If you were alive when Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now. But this year alone the U.S. government is going to go about 1.6 trillion dollars more into debt.#12 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.
So have our politicians learned anything from the mistakes of the past? No.The U.S. government continues to spend money on some of the most ridiculous things imaginable. For example, the Department of Health and Human Services has just announced a brand new $500 million program that will, among other things, seek to solve the problem of 5-year-old children that "can't sit still" in a kindergarten classroom.Isn't it good to see the government investing our hard-earned tax dollars so wisely?Of course if our kids weren't being constantly fed foods packed with sugar, high fructose corn syrup and aspartame we wouldn't have to spend 500 million dollars to deal with this problem.When it comes to government waste, nobody seems to do it any better than the U.S. government.Our politicians continue to assume that the rest of the world will always want our dollars and our debt, but that is simply not the case.Over the past couple of years, global leader after global leader has publicly talked about the need for a new world reserve currency.In fact, globalist institutions such as the IMF and the World Bank have been very busy discussing what the world is going to use as a global reserve currency after the death of the dollar.The rest of the world is not sitting around waiting to see if the U.S. financial system is going to recover. They are already making plans for the demise of the dollar. They are increasingly using other currencies to trade with. They are becoming more hesitant to buy more of our debt. They are realizing that the days of U.S. dominance are coming to an end.So what is that going to mean for us?It is going to be a complete and total disaster.Right now, we live far, far beyond our means. We borrow gigantic piles of money to make up the difference between what we produce and what we consume. We are absolutely dependent on the fact that the rest of the world will take our dollars in exchange for the things that we need.The current situation is not sustainable.It will come to an end.
May 31, 2011
Russia Says IMF Chief Jailed For Discovering All US Gold Is Gone | HEREBy: Sorcha Faal, and as reported to her Western Subscribers
A new report prepared for Prime Minister Putin by the Federal Security Service (FSB) says that former International Monetary Fund (IMF) Chief Dominique Strauss-Kahn [photo with Putin top left] was charged and jailed in the US for sex crimes on May 14th after his discovery that all of the gold held in the United States Bullion Depository located at Fort Knox [photo 2nd left] was ‘missing and/or unaccounted’ for.According to this FSB secret report, Strauss-Kahn had become “increasingly concerned” earlier this month after the United States began “stalling” its pledged delivery to the IMF of 191.3 tons of gold agreed to under the Second Amendment of the Articles of Agreement signed by the Executive Board in April 1978 that were to be sold to fund what are called Special Drawing Rights (SDRs) as an alternative to what are called reserve currencies.This FSB report further states that upon Strauss-Kahn raising his concerns with American government officials close to President Obama he was ‘contacted’ by ‘rogue elements’ within the Central Intelligence Agency (CIA) who provided him ‘firm evidence’ that all of the gold reported to be held by the US ‘was gone’.Upon Strauss-Kahn receiving the CIA evidence, this report continues, he made immediate arrangements to leave the US for Paris, but when contacted by agents working for France’s General Directorate for External Security (DGSE) that American authorities were seeking his capture he fled to New York City’s JFK airport following these agents directive not to take his cell-phone because US police could track his exact location.Once Strauss-Kahn was safely boarded on an Air France flight to Paris, however, this FSB report says he made a ‘fatal mistake’ by calling the hotel from a phone on the plane and asking them to forwarded the cell-phone he had been told to leave behind to his French residence, after which US agents were able to track and apprehend him.Within the past fortnight, this report continues, Strauss-Kahn reached out to his close friend and top Egyptian banker Mahmoud Abdel Salam Omar to retrieve from the US the evidence given to him by the CIA. Omar, however, and exactly like Strauss-Kahn before him, was charged yesterday by the US with a sex crime against a luxury hotel maid, a charge the FSB labels as ‘beyond belief’ due to Omar being 74-years-old and a devout Muslim.In an astounding move puzzling many in Moscow, Putin after reading this secret FSB report today ordered posted to the Kremlin’s official website a defense of Strauss-Khan becoming the first world leader to state that the former IMF chief was a victim of a US conspiracy. Putin further stated, “It’s hard for me to evaluate the hidden political motives but I cannot believe that it looks the way it was initially introduced. It doesn’t sit right in my head.”Interesting to note about all of these events is that one of the United States top Congressman, and 2012 Presidential candidate, Ron Paul [photo bottom left] has long stated his belief that the US government has lied about its gold reserves held at Fort Knox. So concerned had Congressman Paul become about the US government and the Federal Reserve hiding the truth about American gold reserves he put forward a bill in late 2010 to force an audit of them, but which was subsequently defeated by Obama regime forces.When directly asked by reporters if he believed there was no gold in Fort Knox or the Federal Reserve, Congressman Paul gave the incredible reply, “I think it is a possibility.”Also interesting to note is that barely 3 days after the arrest of Strauss-Kahn, Congressman Paul made a new call for the US to sell its gold reserves by stating, “Given the high price it is now, and the tremendous debt problem we now have, by all means, sell at the peak.”Bizarre reports emanating from the US for years, however, suggest there is no gold to sell, and as we can read as posted in 2009 on the ViewZone.Com news site:“In October of 2009 the Chinese received a shipment of gold bars. Gold is regularly exchanges between countries to pay debts and to settle the so-called balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government asked that special tests be performed to guarantee the purity and weight of the gold bars. In this test, four small holed are drilled into the gold bars and the metal is then analyzed.Officials were shocked to learn that the bars were fake. They contained cores of tungsten with only a outer coating of real gold. What's more, these gold bars, containing serial numbers for tracking, originated in the US and had been stored in Fort Knox for years. There were reportedly between 5,600 to 5,700 bars, weighing 400 oz. each, in the shipment!”To the final fate of Strauss-Kahn it is not in our knowing, but new reports coming from the United States show his determination not to go down without a fight as he has hired what is described as a ‘crack team’ of former CIA spies, private investigators and media advisers to defend him.To the practical effects on the global economy should it be proved that the US, indeed, has been lying about its gold reserves, Russia’s Central Bank yesterday ordered the interest rate raised from 0.25 to 3.5 percent and Putin ordered the export ban on wheat and grain crops lifted by July 1st in a move designed to fill the Motherlands coffers with money that normally would have flowed to the US.The American peoples ability to know the truth of these things, and as always, has been shouted out by their propaganda media organs leaving them in danger of not being prepared for the horrific economic collapse of their nation now believed will much sooner than later.
(Global Research, May 18, 2011) | HERE
The Strauss Kahn Frame-Up: The Amerikan Police State Strides Forward
The International Monetary Fund’s director, Dominique Strauss-Kahn, was arrested last Sunday in New York City on the allegation of an immigrant hotel maid that he attempted to rape her in his hotel room. A New York judge has denied Strauss-Kahn bail on the grounds that he might flee to France.President Bill Clinton survived his sexual escapades, because he was a servant to the system, not a threat. But Strauss-Kahn, like former New York Governor Eliot Spitzer, was a threat to the system, and, like Eliot Spitzer, Strass-Kahn has been deleted from the power ranks.Strauss-Kahn was the first IMF director in my lifetime, if memory serves, who disavowed the traditional IMF policy of imposing on the poor and ordinary people the cost of bailing out Wall Street and the Western banks. Strauss-Kahn said that regulation had to be reimposed on the greed-driven, fraud-prone financial sector, which, unregulated, destroyed the lives of ordinary people. Strauss-Kahn listened to Nobel economist Joseph Stiglitz, one of a handful of economists who has a social conscience.Perhaps the most dangerous black mark in Strauss-Kahn’s book is that he was far ahead of America’s French puppet, President Sarkozy, in the upcoming French elections. Strauss-Kahn simply had to be eliminated.It is possible that Strauss-Kahn eliminated himself and saved Washington the trouble. However, as a well-travelled person who has often stayed in New York hotels and in hotels in cities around the world, I have never experienced a maid entering unannounced into my room, much less when I was in the shower.In the spun story, Strauss-Kahn is portrayed as so deprived of sex that he attempted to rape a hotel maid. Anyone who ever served on the staff of a powerful public figure knows that this is unlikely. On a senator’s staff on which I served, there were two aides whose job was to make certain that no woman, with the exception of his wife, was ever alone with the senator. This was done to protect the senator both from female power groupies, who lust after celebrities and powerful men, and from women sent by a rival on missions to compromise an opponent. A powerful man such as Strauss-Kahn would not have been starved for women, and as a multi-millionaire he could certainly afford to make his own discreet arrangements.As Henry Kissinger said, “power is the ultimate aphrodisiac.” In politics, sex is handed out as favors and payoffs, and it is used as a honey trap. Some Americans will remember that Senator Packwood’s long career (1969-1995) was destroyed by a female lobbyist, suspected, according to rumors, of sexual conquests of Senators, who charged that Packwood propositioned her in his office. Perhaps what inspired the charge was that Packwood was in the way of her employer’s legislative agenda.Even those who exercise care can be framed by allegations of an event to which there are no witnesses. On May 16 the British Daily Mail reported that prior to Strauss-Kahn’s fateful departure for New York, the French newspaper, Liberation, published comments he made while discussing his plans to challenge Sarkozy for the presidency of France. Strauss-Kahn said that as he was the clear favorite to beat Sarkozy, he would be subjected to a smear campaign by Sarkozy and his interior minister, Glaude Gueant. Strauss-Kahn predicted that a woman would be offered between 500,000 and 1,000,000 euros (more than $1,000,000) to make up a story that he raped her. HEREThe Daily Mail reports that Strauss-Kahn’s suspicions are supported by the fact that the first person to break the news of Strauss-Kahn’s arrest was an activist in Mr Sarkozy’s UMP party – who apparently knew about the scandal before it happened.Jonathan Pinet, a politics student, tweeted the news just before the New York Police Department made it public, although he said that he simply had a ‘friend’ working at the Sofitel where the attack was said to have happened.The first person to re-tweet Mr Pinet was Arnaud Dassier, a spin doctor who had previously publicised details of multi-millionaire Strauss-Kahn’s luxurious lifestyle in a bid to dent his left wing credentials.Strauss-Kahn could just as easily been set up by rivals inside the IMF, as well as by rivals within the French political establishment.Michelle Sabban, a senior councillor for the greater Paris region and a Strauss-Kahn loyalist said: ‘I am convinced it is an international conspiracy.’She added: ‘It's the IMF they wanted to decapitate, not so much the Socialist primary candidate.‘It's not like him. Everyone knows that his weakness is seduction, women. That's how they got him.’Even some of Strauss-Kahn’s rivals said they could not believe the news. ‘It is totally hallucinatory,’ said centrist Dominique Paille.‘If it is true, this would be a historic moment, but in the negative sense, for French political life. I hope that everyone respects the presumption of innocence. I cannot manage to believe this affair.’And Henri de Raincourt, minister for overseas co-operation in President Nicolas Sarkozy's government, added: ‘We cannot rule out the thought of a trap.’Michelle Sabban is on to something when she says the IMF was the target. Strauss-Kahn is the first IMF director who is not lined up on the side of the rich against the poor. Strauss-Kahn’s suspicions were of Sarkozy, but Wall Street and the US government also had strong reasons to eliminate him. Wall Street is terrified by the prospect of regulation, and Washington was embarrassed by the recent IMF report that China’s economy would surpass the US economy within five years. An international conspiracy is not out of the question.Indeed, the plot is unfolding as a conspiracy. Authorities have produced a French woman who claims she was a near rape victim of Strauss-Kahn a decade ago. It would be interesting to know whether this allegation is the result of a threat or a bribe. As in the case of Julian Assange, there are now two women to accuse Strauss-Kahn. Once the prosecutors get the odds of two females against one male, they win in the media.It has not been revealed how the authorities knew Strauss-Kahn was on a flight to France. However, by arresting him aboard his scheduled flight just as it was to depart, the authorities created the image of a man fleeing from a crime.The way Amerikan justice (sic) works is that prosecutors in about 96 percent of the cases get a plea bargain. US prosecutors are permitted by judges and the public to pay for testimony against the defendant and to put sufficient pressure on innocent defendants to coerce them into making a guilty plea in exchange for lesser charges and a lighter sentence. Unless the hotel maid has a spell of bad conscience and admits she was paid to lie, or gets cold feet about perjuring herself, Strauss-Kahn is likely to find that Amerikan criminal justice (sic) is organized to produce conviction regardless of innocence or guilt.On May 16, the day following Strauss-Kahn’s arrest, the US Supreme Court threw its weight behind the Amerikan police state by destroying the remains of the Fourth Amendment with an 8-1 ruling that, the U.S. Constitution notwithstanding, Amerika’s police do not need warrants to invade homes and search persons.This ruling is more evidence that every American is regarded as a potential enemy of the state, not only by Airport Security but also by the high muckety-mucks in Washington. The conservatives’ “war on crime” has created a police state, and conservatives, who originally stood for limited government and civil liberty, are euphoric over the expanded and unaccountable powers that a conservative Supreme Court has handed to the police.On the same day the federal government reached the $14.3 trillion debt ceiling, which forced the Treasury to “borrow” money from federal employee pensions in order to continue funding Amerika’s illegal wars and crimes against humanity. The breached debt ceiling serves as an appropriate marker for a country that has squandered its constitutional heritage and has arrived at moral as well as fiscal bankruptcy.
(Global Research, May 16, 2011) | HERE
I have no way of knowing whether the 32-year-old maid who claims she was attacked and forced to perform oral sex on IMF chief Dominique Strauss-Kahn, is telling the truth or not. I'll leave that to the braying hounds in the media who have already assumed the role of judge, jury and Lord High Executioner. But I will say, the whole matter smells rather fishy, just like the Eliot Spitzer story smelled fishy. Spitzer, you may recall, was Wall Street's biggest adversary and a likely candidate to head the SEC, a position at which he would have excelled. In fact, there's no doubt in my mind that if Spitzer had been appointed to lead the SEC, most of the top investment bankers on Wall Street would presently be making license plates and rope-soled shoes at the federal penitentiary. So, there was plenty of reason to shadow Spitzer's every move and see what bit of dirt could be dug up on him. As it turns out, the ex-Governor of New York made it easy for his enemies by engaging a high-priced hooker named Ashley Dupre for sex at the Mayflower Hotel. When the news broke, the media descended on Spitzer like a swarm of locusts poring over every salacious detail with the ebullient fervor of a randy 6th-grader. Meanwhile, the crooks on Wall Street were able to breathe a sigh of relief and get back to doing what they do best; fleecing investors and cheating people out of the life savings.Strauss-Kahn had enemies in high places, too, which is why this whole matter stinks to high-Heaven. First of all, Strauss-Kahn was the likely candidate of the French Socialist Party who would have faced Sarkozy in the upcoming presidential elections. The IMF chief clearly had a leg-up on Sarkozy who has been battered by a number of personal scandals and plunging approval ratings.But if Strauss-Kahn was set up, then it was probably by members of the western bank coalition, that shadowy group of self-serving swine whose policies have kept the greater body of humanity in varying state of poverty and desperation for the last two centuries. Strauss-Kahn had recently broke-free from the "party line" and was changing the direction of the IMF. His road to Damascus conversion was championed by progressive economist Joesph Stiglitz in a recent article titled "The IMF's Switch in Time". Here's an excerpt:"The annual spring meeting of the International Monetary Fund was notable in marking the Fund’s effort to distance itself from its own long-standing tenets on capital controls and labor-market flexibility. It appears that a new IMF has gradually, and cautiously, emerged under the leadership of Dominique Strauss-Kahn.Slightly more than 13 years earlier, at the IMF’s Hong Kong meeting in 1997, the Fund had attempted to amend its charter in order to gain more leeway to push countries towards capital-market liberalization. The timing could not have been worse: the East Asia crisis was just brewing – a crisis that was largely the result of capital-market liberalization in a region that, given its high savings rate, had no need for it.That push had been advocated by Western financial markets – and the Western finance ministries that serve them so loyally. Financial deregulation in the United States was a prime cause of the global crisis that erupted in 2008, and financial and capital-market liberalization elsewhere helped spread that “made in the USA” trauma around the world....The crisis showed that free and unfettered markets are neither efficient nor stable." ("The IMF's Switch in Time", Joseph Stiglitz, Project Syndicate)So, Strauss-Kahn was trying to move the bank in a more positive direction, a direction that didn't require that countries leave their economies open to the ravages of foreign capital that moves in swiftly--pushing up prices and creating bubbles--and departs just as fast, leaving behind the scourge of high unemployment, plunging demand, hobbled industries, and deep recession.Strauss-Kahn had set out on a "kinder and gentler" path, one that would not force foreign leaders to privatize their state-owned industries or crush their labor unions. Naturally, his actions were not warmly received by the bankers and corporatists who look to the IMF to provide legitimacy to their ongoing plunder of the rest of the world. These are the people who think that the current policies are "just fine" because they produce the results they're looking for, which is bigger profits for themselves and deeper poverty for everyone else.Here's Stiglitz again, this time imparting the "kiss of death" to his friend Strauss-Kahn:"Strauss-Kahn is proving himself a sagacious leader of the IMF.... As Strauss-Kahn concluded in his speech to the Brookings Institution shortly before the Fund’s recent meeting: “Ultimately, employment and equity are building blocks of economic stability and prosperity, of political stability and peace. This goes to the heart of the IMF’s mandate. It must be placed at the heart of the policy agenda.”Right. So, now the IMF is going to be an agent for the redistribution of wealth.... (for) "strengthening collective bargaining, restructuring mortgages, restructuring tax and spending policies to stimulate the economy now through long-term investments, and implementing social policies that ensure opportunity for all"? (according to Stiglitz)Good luck with that.Can you imagine how much this kind of talk pisses off the Big Money guys? How long do you think they'd put up with this claptrap before they decided that Strauss-Kahn needed to take a permanent vacation?Not long, I'd wager.Check this out from World Campaign and judge for yourself whether Strauss-Kahn had become a "liability" that had to be eliminated so the business of extracting wealth from the poorest people on earth could continue apace:"For decades, the International Monetary Fund (IMF) has been associated among anti-poverty, hunger and development activists as the poster child of everything wrong with the rich world's fiscal management of the rest of the world, particularly of poor nations, with its seemingly one-dimensional focus on belt-tightening fiscal policies as the price of its loans, and a trickle-down economic philosophy that has helped traditional wealthy elites maintain the status quo while the majority stayed poor and powerless. With a world increasingly in revolution because of such realities, and after the global financial crisis in the wake of regulatory and other policies that had worked after the Great Depression being largely abandoned, IMF managing director Dominique Strauss-Kahn has made nothing less than stunning observations about how the IMF and the world need to change policies.In an article today in the Washington Post, Howard Schneider writes that after the 2008 crash led toward regulation again of financial companies and government involvement in the economy, for Strauss-Khan "the job is only half done, as he has been leading the fund through a fundamental rethinking of its economic theory. In recent remarks, he has provided a broad summary of the conclusions: State regulation of markets needs to be more extensive; global policies need to create a more even distribution of income; central banks need to do more to prevent lending and asset prices from expanding too fast. 'The pendulum will swing from the market to the state,' Strauss-Kahn said in an address at George Washington University last week. 'Globalization has delivered a lot ... but it also has a dark side, a large and growing chasm between the rich and the poor. Clearly we need a new form of globalization' to prevent the 'invisible hand' of loosely regulated markets from becoming 'an invisible fist.'" (HERE )Repeat: "...a fundamental rethinking of economic theory".... (a greater) "distribution of income"...(more) "regulation of financial companies", "central banks need to do more to prevent lending and asset prices from expanding too fast".Are you kidding me? Read that passage again and I think you'll agree with me that Strauss-Kahn had signed his own death warrant.There's not going to be any revolution at the IMF. That's baloney. The institution was created with the clear intention of ripping people off and it's done an impressive job in that regard. There's not going to be any change of policy either. Why would there be? Have the bankers and corporate bilge-rats suddenly grown a conscience and decided to lend a helping hand to long-suffering humanity? Get real.Strauss-Kahn broke ranks and ventured into no man's land. That's why he was set up and then crushed like a bug.(Note: Strauss-Kahn has been replaced by the IMF's number 2 guy, John Lipsky, former Vice Chairman of the JPMorgan Investment Bank. How's that for "change you can believe in"?)
-----> *-more to watch&learn:
Michael Parenti - "The Face of Imperialism" | HERE
Michael Parenti - Giant Corporate Capitalism Part 1 of 2 | HERE
Michael Parenti - Giant Corporate Capitalism Part 2 of 2 | HERE
CORPORATE FASCISM -- The Destruction of Americas Middle Class | HERE
Lies, War, and Empire - Part I | HERE
Lies, War, and Empire - Part II | HERE
Talk - The US War on Yugoslavia | HERE
BE AWARE !!!
LOOK WHAT'S GONNA HAPPEND TO YOUR COUNTRY IF YOU ARE NOT WELL PREPARED AGAINST THAT !!!
....AND READ THIS: HERE
Economic Crisis and Social Explosion
THE MANY LIES TOLD BY THE WEST IN THEIR WAR AGAINST LIBYA
*A- THE REAL REASONS FOR THE WAR IN LIBYA*
1- The first African satellite RASCOM 1
2- African Monetary Fund, African Central Bank, African Investment Bank
3- REGIONAL TRADE BLOCS AS AN IMPEDIMENT TO THE CREATION OF THE UNITED STATES OF AFRICA
.....open this photo in new tab and read whole story. | HERE
-> My opinion of the Kucinich Resolution on Libya | HERE
-> Obama & His actions in Lybia | HERE
NOT IN MY NAME!!!