counterpunch | Challenging Monetary Fascism is much more dangerous
for political leaders representing countries outside the G-20. Populist
leaders who put forward Nationalist policies are automatically in
violation of one or more international ‘free trade’ agreements.
Non-conformity with these agreements ultimately results in trade
sanctions, IMF or World Bank imposed austerity, or worse…
Friedman’s ideology is global and his rules of ‘free trade’ are
deeply integrated into the laws of international trade. All of our
Nation’s international treaties on trade and banking are a series of
interlocking agreements that force all nations to subvert their
sovereignty and conform to Monetary Fascism. It is a global pandemic
built on a world-wide transmission system with universal powers
of enforcement. Sovereign Nations comply or they lose their credit
rating. Considering the world wide mass escalation of debt to GDP for
most western nations, a small increase in the cost of borrowing would
easily result in default and bankruptcy.
Today, Nation States face nothing less than financial Armageddon –
the Sampson Option, if they do not comply with the demands of the global
banking industry. And it is with this weapon that the Financial Class
has come to dominate the State.
Forget Al Qaeda, the only legitimate threat to U.S. and international
security is the financial class. They have created Weapons of Mass
Financial Destruction (Financial WMDs) and they stand ready to take down
the world economy. They are more dangerous than any ‘terrorist
group’, or even all of the ‘terrorist groups combined.
Exaggeration – consider what Friedman’s ‘free market’ banking system
has done to Iceland, Ireland, Spain, Greece, Estonia, etc. How many
western nations has Islam overthrown? Not one, and by comparison that
should scare you.
Money has become the state and the traditional state is forced to
serve money’s interests. Everywhere the Financial Class is openly
lording over sovereign nations. Ireland, Greece and Spain are subject
to ultimatums and remember Hank Paulson’s $700 billion extortion from
the U.S. Congress. The $700 billion was just the wedge. Thanks to
unlimited access to the Discount Window, Quantitative Easing and other
taxpayer funded debt-swap bailouts the total transfers to the financial
industry exceeded $16 trillion as of July 2010 according to a Federal
Reserve Audit. All of this was dumped on the taxpayer and it is
still growing.
Why must the people of Ireland or Iceland accept the losses of the
private banking sector as a public obligation? Why must Greece accept
austerity because its politician’s entered into a series of deals
structured by Goldman Sachs specifically designed to deceive its EU
partners? If Goldman Sachs authored documents with the intent of fraud
then Goldman Sachs is required to bear the losses and prosecution. The
taxpayer had no hand in this.
It is breathtaking. Within the last 40 years ‘money’ has gained
total control of each and every one of us. Generations to come will
enter this world burdened with the debts of their fathers. It is
inescapable and ubiquitous. More than just a spider’s web, or a
money-sucking vampire squid, it is a global pandemic that infects our
very DNA. It is the Original Sin of money – subject to
compound interest, converted into a derivative, hypothecated and rolled
into a CMO and then leveraged through CDSs.
The uber-wealthy will continue to aggregate wealth. The banking
system will continue to make ‘risk free bets,’ booking gains and
shifting the losses to the public. As these losses accumulate on the
public balance sheet the state will be forced to seek austerity measures
from the public. As austerity and debt levels increase the global
economy will continue ‘circling of the bowl’ with increasing speed until
we suddenly plunge into the vortex.
