March 17, 2009
A so called "bailout backlash", a huge rise in public antagonism toward banks and Wall Street, is set to provide the Obama administration and the governments of the G20 nations a pretext to usher in a new era of international centralization and control over financial practices and institutions.
The backlash or "bailout rage" as others have dubbed it, has been further heightened by revelations regarding AIG’s squandering of almost $100 billion in taxpayer rescue funding – which it siphoned off to Goldman Sachs and a number of European banks – in addition to the company’s plan to continue issuing massive bonuses to the people in the very division that were responsible for it’s spiraling derivative-driven downturn.
The intention to use such practices to push for increased authoritative regulation is clear.
"Mr. Obama’s advisers argued that to at least some extent, this was a sentiment they could tap to push through his measures in Congress," reported The New York Times yesterday.
However, the Times article also highlights the fine line that Obama and other heads of state must tread in utilizing such backlash for their own gain.
"The danger, aides said, is that if he were to become identified as an advocate for the banks and Wall Street, people could take out their anger on him."
This is the stumbling block that must be overcome in order to uncover the real solutions to the induced global financial collapse.
While the practices of those at AIG, Goldman Sachs and their ilk are abhorrent, they represent a mere drop in the ocean compared to the actions of our governments and their central bank bedfellows, who have provided for such circumstances in the first instance anyway.
The Federal Reserve still refuses to answer specific questions about where $2 trillion in bailout funds has gone, a subject that Bloomberg News sued the Fed simply to try and discover.
Staggering scenes unfolded two weeks ago at a Senate budget Committee meeting when Federal Reserve Chairman Ben Bernanke arrogantly refused to state where any of the bailout money had gone despite repeated questioning by U.S. Senator Bernie Sanders.
The economic “stimulus” is the latest phase of an overarching effort to foment another Great Depression, or rather a Greater Depression. It is a debt and inflation tool designed to pump up another bubble in the economy. It is a built-in demolition of an already stressed economy. It is how the global elite and the banksters will take control and create a world banking empire and one-world government that is accountable to no one.
It is blatantly apparent that Obama is merely one of the select frontmen for this, an agenda which is truly global in scale.
As we have previously highlighted, the elite have exploited the problem that they created to push for increased regulation of the world economic system in the pursuit of a de-facto global financial dictatorship.
The swift and ruthless exploitation of the economic meltdown on behalf of globalists and central banks revolves around their drive to move towards a one world currency system and an unprecedented centralization of global financial power, a fact that financial analysts are finally beginning to realise.
[efoods]Last week Ben Bernanke told an elite gathering at the Council on Foreign Relations that a new overarching financial authority should be created and empowered with sweeping new regulatory responsibilities.
Such a suggestion echoes that of über elitist Paul Volcker, an Obama adviser and former Fed chairman, who has consistently called for regulatory crackdowns, along with other members of the elite Group of Thirty and the Trilateral Commission.
During Volcker’s address at the Columbia University’s Center for Capitalism and Society last month, he said only new forms of international financial regulation will save us from the yawning catastrophe. “All banks must be supervised and regulated, but those of systemic significance around the world, which, almost inevitably… are international, they’re not just national, will be subject to a particular layer of supervision,” said Volcker.
British Prime Minister Gordon Brown, EU heads such as Joaquin Almunia and establishment media outlets like the Wall Street Journal amongst many others have all continually used the economic crisis as an excuse to argue for greater financial power, a “new world economic order” in which control is concentrated into fewer hands – with the IMF and the World Bank enjoying the spoils.
UK Business Secretary and top Bilderberg member Peter Mandelson has also pushed for a “Bretton Woods for this century,” to help build the “machinery of global economic governance”.
Former UK Prime Minister Tony Blair, German Chancellor Angela Merkel and French President Nicolas Sarkozy all made the same appeal at a conference in Paris on the future of capitalism earlier this year.
Merkel called for the creation of a new global economic body under the UN, similar to the Security Council, to judge government policy.
Sarkozy called for a “new world, new capitalism” during his speech, as he commented “In capitalism of the 21st century, there is room for the state.”
Meanwhile, Blair called for a new financial order which he said should be constructed upon “values other than the maximum short-term profit.”
More of the same appeals are set to be made this weekend at the meeting of the G20 in England.
The globalists created the problem of wildly irresponsible fractional reserve banking, the debt bubble and the credit crunch by ceaselessly inflating the money supply and now they are offering their solution to the crisis by posing as the saviors and promising to fix the crisis, but only if complete control of the global financial system be signed over to them.
As Ron Paul, Peter Schiff and their ilk have tirelessly argued, the only way to solve the financial crisis is to allow incompetent banks and companies to fail, not to reward their misdeeds by giving them billions in taxpayer money. The only way to re-capitalize the world is to provide incentives for people to work hard and save money, not by creating more credit out of thin air, which is what caused the problem in the first place.
The globalists’ call for a centralized global economic order has nothing to do with providing solutions to the crisis but everything to do with providing themselves with more power and control over the world’s financial system.