Saturday, October 11, 2008

Seven Days in October

October 10, 2008
by Jim Kirwan by Jim Kirwan

These are the Seven Days in October that will change the World!

Cheney-Bush, Bernanke, Pelosi & Paulson have successfully destroyed ‘trust’ and have replaced this universal value with ‘fear,’ compounded by public paranoia over the chaos they’ve created; in an uncertain world where there are no longer any laws that govern governments or money-changers!

The public is paying for this charade with trillions of dollars that was their money until this depression was created to bleed us; in direct and opposite proportion, to the trillions in bailouts that have gone, or will soon go, into the private pockets of the money-changers at the top.

Welcome to Democracy Now! What about this latest news?

MICHAEL HUDSON: Well, what upsets the Europeans and the foreigners is that the US plan has done nothing at all about the debt crisis itself. It’s bailed out the creditors, but not a penny of the actual debts, the subprime mortgage debts, are addressed. Without any of the media knowing, the Federal Reserve over the last few months has given $850 billion of cash for trash already. This is what the $700 billion discussion in Congress was supposed to be about, but the Fed, without anyone knowing, has already been exchanging these securities. And the securities essentially have been swapped by the US bankers to their pals and not done anything at all to write down the actual subprime debts. There’s a big attempt to blame the victim now. And if you add up all of the subprime bad loans and defaults, that’s altogether $1 trillion. So far, the government has given away $6 trillion already to Wall Street. That’s much more than any of the subprime debt. And the volume of derivative trade has been estimated at $450 trillion, an unbelievable amount. So nobody has any idea about how much money is at stake.

And what really triggered a lot of this was the way in which Lehman went bankrupt. The day
this has not been discussed either in America, but it’s all over the European press. The day before Lehman went bankrupt, it basically looted all of its foreign offices. For instance, in England, it emptied out the English account of a few billion dollars, leaving the English employees only with the money theythe little cards they had to use in the vending machines. No salaries were paid. The London office was closed down immediately. And the next day, Lehman used the money that it took from London to pay its closest associates to redeem the derivative trades that it had done. So the English bankers came out and said, in England, we have an ethic: it’s lend to the person, not against the asset. And they’ve come to the conclusion that the American bankerswell, we won’t say “crooks,” but let’s say they’re cronies who deal among themselves and are willing to screw the foreigner.

And this has created such mistrust abroad that Europeans and Asians and OPEC country investors are simply pulling their money out of the US, because they don’t have a clue as to the solvency of the banks. We’re seeing the end result of the Alan Greenspan deregulatory revolution, where he said markets are all self-regulating. Right now, you’re seeing the markets self-regulate themselves. And the result is a wipeout of the American pyramiding.”
And there’s more here. (1)

Government keeps saying that this is only financial, and that our industries and businesses are still sound – that is a blatant lie! This could not be happening here if the US had a manufacturing or an industrial base of any kind: But our once formidable American commercial infrastructure has been outsourced, with the full approval and encouragement of this government; causing massive loses in American jobs for those American workers that have now been thrown on the trash-heaps of history.

Any ‘Republic’ that no longer has a system of checks & balances or anything remotely resembling ‘oversight’ of what they create to run the nation, is no longer a country – it is only a fascist police-state in waiting!

“Senator Chris Dodd, the banking committee chair has no plans to subject the new Bailout Czar, Neel Kashkari to conformation hearings. Kashkari is the thirty-five year old Treasury official, tapped by Henry Paulson, to oversee the more than 700 billion-dollar bailout. Like Paulson, Kashkari is a former employee of Goldman-Sachs. Kashkari graduated from business school six years ago.”

Given this fact: it is now clear that we can forget about the political campaigns because whoever “wins” that farce will not even come close to having the kind of power that this 35 year old insider will be able to have, when he begins handing out “450 Trillion dollars” to the money-changers at the expense of every one of us! There’s a huge difference between the $850 Billion they told us about and the $450 Trillion that is the actual amount of the problem! That’s more money than any economy could ever envision, much less ever have: and yet that’s the payoff that this Depression was designed to create!

And Senator Dodd does not think that we even ought to have a hearing to see if this Goldman-Sachs insider is even qualified for anything, much less this job that will clearly make the US presidency into the standing joke that it already is!

Americans at all levels of this nightmare are hurting badly, some far more than others. The meltdown has cut into 401K’s, into investments, retirement funds, savings accounts, mutual funds, and stock option plans not to mention the number of homes and jobs that will be lost in this massive war against the people of the United States, and by extension the world. Hundreds of Trillions will be doled out before this is done, but not one cent will be given to real people to protect them in any way from what has already destroyed over twenty percent of the retirement savings that had to be earned over many decades!

According to CBS News this morning “we have lost $8 Trillion so far this year, and the markets have fallen 40% from where they were just one year ago today.” This Depression is not remotely near the end, as the automotive and airlines and the insurance shortfalls will also be demanding bailouts – notwithstanding the fact that the subprime mortgages have still not even been addressed. What happened to Impeachment or anything to do with challenging these people on anything they've done! This is happening - because we have remained silent and obedient throughout the last eight years of this completely criminal regime, in the face of war-crimes by the hundreds, and outrages that defy all the human sensibilities on which the community of nations was built.

So much money being paid out – all in secret of course – and nothing to help real people survive the coming depression. Once more the global money-changers are being bailed-out with no thought at all to saving the very people that are being forced to pay off these eternal bandits that have declared “All out War” upon the global economy and the global- population who will suffer or die because of this new outrage!

This situation screams for resolutions: yet all we get are platitudes amid the chaos of failing markets, and no one in authority is even remotely in any danger of even getting fired! If ‘resolutions’ fail then the only choice left to the real people of this world will be a global demand for Revolution, along with total control over all bankers and politicians of any stripe – forever!

If this sounds impossible or implausible then please just think about this completely other proposal, from Benjamin Fulford:

“With a brand new financial system built from scratch, it would be possible to end world poverty and stop environmental destruction within a month. The reason is simple, we have been blinded from reality by a hypnotic pyramid scheme known as the world financial system. The financial system is nothing more than the process of deciding what humanity will do in the future. In other words, it is fundamentally nothing more than mass psychology. Thus, if humanity changed their collective psychology about how to run the planet, it could decide, within a few days, to care for the poor and stop destroying nature. It is simply a matter of making the collective decision to do so. That is all.”

And of course there’s a lot more to it than just the above paragraph. . . (2)

If this Depression is not averted, then we must act, because there's a total lack of responsibility in the continued fleecing of the public and of everything we have all worked for all our lives! This must not be allowed to reach its designed conclusion – not that is – if we are planning to have a future of any kind, for our selves or for any of our descendants!

Jim Kirwan


1) As Stocks plummet across the Globe
2) Fulford – How to Rebuild Finances and Save the Planet Back to text


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