Category Archives: Control

Debt: the First 5000 Years – a new book about an old problem

From David Graeber, the author:

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Hello, friendly strangers, I’m delighted to announce my new book….

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DEBT: THE FIRST 5000 YEARS

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is finally, finally out!

http://www.amazon.co.uk/Debt-First-5-000-Years/dp/1933633867

This is a work of scholarship, and politically engaged, but it’s also an attempt to break out of the usual academic and activist ghettoes, and I wrote it that way because I think that there’s a conversation we need to be having, not just nationally but also globally, that we began to have for a few months after the financial crash of 2008, and which has, since, been indefinitely postponed.

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Mervyn King’s view on ‘the new politics’

This blog entry by Channel 4 economics editor Faisal Islam indicates how the Bank of England pulls the real financial strings behind the political scene and how the City of London runs Westminster and thus the country, not to say the world.

If only it was common knowledge that

1. the first national debt was established in 1694 by setting up the Bank of England; see http://bit.ly/aNRGPw; it resulted in a general debt-based economy world-wide

2. the purpose of the crisis was revealed by the 10-year budget analysis and the “kink” in 2008; see http://bit.ly/aGrAbn

3. there are fundamental differences between the Bank of England’s “quantitative easing” http://bit.ly/cVPxOJ and the Treasury “printing money”: interest, aka vested interests of greed and unaccountability.

May more and more people wake up and understand

  • a Nation’s money supply is fuelled from a number of sources
    • central banks
    • banks and other financial institutions
  • a Government’s budget is only a certain share of the whole of the supply – generally around 40%
  • governments issue money as Cash aka M0,
  • but they “prefer” to borrow, pay interest and charge taxes – for the benefit of bank(st)ers who issue money as Credit out of thin air and charge interest for it….

Follow the money and welcome to hopefully a new level of disillusionment!

“Slaves to Debt” in “The International”

Last night I watched a main stream action film starring Clive Owen called ‘The International’ – http://en.wikipedia.org/wiki/The_International_(film). Wikipedia summarises the plot well:
“Interpol agent Louis Salinger (Clive Owen) and Manhattan Assistant District Attorney Eleanor Whitman (Naomi Watts) are determined to bring to justice one of the world’s most powerful banks, the International Bank of Business and Credit which funds terrorist activities. Uncovering illegal activities including money laundering, arms trading, and the destabilization of governments, Salinger’s and Whitman’s investigation takes them from Berlin to Milan, where the IBBC assassinates an Italian prime ministerial candidate (Calvini)”

There is one exchange of dialogue in this film that I found remarkable in its level of truth for a mainstream action movie. This occurs 33:20 minutes into the film when the two agents interview Calvini – who has amassed his fortune in arms dealings:
DA Whitman: Mr. Calvini, we’d like to know why the IBBC, a bank would be purchasing hundreds of millions of dollars worth of missile guidance and control systems from your company?
Calvini: The IBBC has purchased billions of dollars worth of Silkworm missiles from the People’s Republic of China which they have presold to clients in the Middle East. Contingent upon the missiles being equipped with VOLCON guidance systems. My company is one of only two in the world which produce the VOLCON.
DA: But why is the bank committing so much of its capital and resources to the sale of these missiles?
Calvini: It’s a test. Small arms are the only weapons used in 99% of the world’s conflicts and no one has the capacity to manufacture them faster and cheaper than China. What Skarssen (IBBC CEO) is attempting to do is to make the IBBC the exclusive broker of Chinese small arms to the Third World. And the missile deal is the gateway transaction.
Lou: Yeah, but billions of dollars invested simply to be a broker? There can’t be that much profit for them.
Calvini: No. This is not about making a profit from weapon sales. It’s about control.
DA: Control the flow of weapons, control the conflict.
Calvini: No, no. The IBBC is a bank. Their objective isn’t to control the conflict; it’s to control the debt that the conflict produces. You see, the real value of a conflict, the true value is in the debt that it creates. You control the debt, you control everything. You find this upsetting, yes? But this is the very essence of the banking industry, to make us all, whether we be nations or individuals slaves to debt.
You can watch the clip on youtube for the moment. http://www.youtube.com/watch?v=XDxNtpMEEZM&feature=PlayList&p=659CB4853D9ABCB7&index=2 (3:15 into this clip). Better be quick, before they remove it for copyright infringement.
Best regards
Craig

The Global Financial Crisis

Michel Chossudovsky, Professor of Economics and Director of the most impressive Centre for Research on Globalization on a 78-minute video:

The Great Depression of the 21st Century

Causes and consequences of the financial meltdown;
The speculative onslaught;
Financial fraud and the “bank bailouts”;
Bankruptcy of the real economy;
Impacts on employment, wages and social services;
Towards a spiralling public debt;
The economic crisis and its relationship to the Middle East war;
The centralization of corporate power;
The concentration of wealth;
The globalization of poverty.

What are the policy alternatives?

George Soros on Bailing out Banks

This article in the FT on Jan 22 points out the cornerstones that define the essence of corporate power: equity and money as control. The question is who is in control: of issuing money, toxic assets, good and bad banks.

The former US Treasury secretary Hank Paulson’s proposal was supposedly similar to the current one, which boils down to the Fed ‘guaranteeing’ those toxic assets via a ‘toxic aggregator bank’.

Instead,  George Soros is proposing

  • an equity injection scheme
  • a cut in minimum capital requirements for banks.

It doesn’t remove the Fed’s power, but it seems, as if at least wouldn’t widen it.

Another article by George Soros on his site is The Crisis & What do to Do About it doesn’t go to the heart of central banks, but at least questions the current paradimg of ‘markets tending toward equilibrium’.

Economic 9/11 – by Max Keiser

Max Keiser is a journalist and broadcaster who calls a spade a spade. And thus he talks about an economic or financial 9/11.

His website has LOTS of references and comments, rather than the kind of explanations that monetary reformers like to distribute.

Wikipedia and the CIA

This article by Dr. Les Sachs left me speechless. Let me know what it does to your mind and soul! It is unfortunately rather verbose, but it does say a lot about Wikipedia. My writing elbows have been slapped once before by anonymous Wikipedia editors. Now I think I understand why.

Here’s a related article in WIRED magazine, that the magic of WordPress suggested: See Who’s Editing Wikipedia – Diebold, the CIA, a Campagin