X-posting this from Economic forum.
This is all an opera in some foreign language (finance) as the financial titans make their move onto the global stage, filling their bellies on our hard earned money and those of smaller prey in order to fill a bigger chair at the global feast. And I hate to say it, but it certainly seems that in order to pull this off these financial titans have and will continue to require and receive cooperation from our 'government'. I hesitate to even call it a government since it bears no resemblence to an institution that even remotely contributes to the common wealth of this nation. Of course we must not overlook the fact that they DO need 'us', so long as they can train
us or at the very least confuse us enough to prevent a united front demanding a change in the globalization script.
I must ask myself why Obama would endorse them? Is this a nonpartisan approved policy deemed an effective means of maintaining control in a globalizing world? Is that it?
A very troubling thought, as we've already seen the havoc wreaked by one puppet who, in truth, had little opposition from the other side of the aisle.
So, if true, is this a reality we can wrap our minds and hearts around and not be caught up the victim...again? Keep those eyes wide open.
BEHIND THE PANIC:
Financial Warfare over future of global bank power
by F. William Engdahl
October 9, 2008
What’s clear from the behavior of European financial markets over the past two weeks is that the dramatic stories of financial meltdown and panic are deliberately being used by certain influential factions in and outside the EU to shape the future face of global banking in the wake of the US sub-prime and Asset-Backed Security (ABS) debacle. The most interesting development in recent days has been the unified and strong position of the German Chancellor, Finance Minister, Bundesbank and coalition Government, all opposing an American-style EU Superfund bank bailout. Meanwhile Treasury Secretary Henry Paulson pursues his Crony Capitalism to the detriment of the nation and benefit of his cronies in the financial world. It’s an explosive cocktail that need not have been.
Stock market falls of 7 to 10% a day make for dramatic news headlines and serve to foster a broad sense of unease bordering on panic among ordinary citizens. The events of the last two weeks among EU banks since the dramatic state rescues of Hypo Real Estate, Dexia and Fortis banks, and the announcement by UK Chancellor of the Exchequer, Alistair Darling of a radical shift in policy in dealing with troubled UK banks, have begun to reveal the outline of a distinctly different European response to what in effect is a crisis ‘Made in USA.’
There is serious ground to believe that US Goldman Sachs ex CEO Henry Paulson, as Treasury Secretary, is not stupid. There is also serious ground to believe that he is actually moving according to a well-thought-out long-term strategy. Events as they are now unfolding in the EU tend to confirm that. As one senior European banker put it to me in private discussion, ‘There is an all-out war going on between the United States and the EU to define the future face of European banking.’
In this banker’s view, the ongoing attempt of Italian Prime Minister Silvio Berlusconi and France’s Nicholas Sarkosy to get an EU common ‘fund’, with perhaps upwards of $300 billion to rescue troubled banks, would de facto play directly into Paulson and the US establishment’s long-term strategy, by in effect weakening the banks and repaying US-originated Asset Backed Securities held by EU banks.
Using panic to centralize power
As I document in my forthcoming book, Power of Money: The Rise and Decline of the American Century, in every major US financial panic since at least the Panic of 1835, the titans of Wall Street—most especially until 1929, the House of JP Morgan—have deliberately triggered bank panics behind the scenes in order to consolidate their grip on US banking. The private banks used the panics to control Washington policy including the exact definition of the private ownership of the new Federal Reserve in 1913, and to consolidate their control over industry such as US Steel, Caterpillar, Westinghouse and the like. They are, in short, old hands at such financial warfare to increase their power.
Now they must do something similar on a global scale to be able to continue to dominate global finance, the heart of the power of the American Century...>
http://www.financialsense.com/editorials/engdahl/2008/1009.html