Monthly Archives: May 2010

6 reasons ‘Goldman Conspiracy’ must kill reforms

This excellent article gives a good overview of what’s happening in American power games between Wall Street and Washington, just as between the City of London and Westminster.

Written for MarketWatch, the author Paul B. Farrell is the author of nine books on personal finance, economics and psychology. He was an investment banker with Morgan Stanley, executive vice president of the Financial News Network; executive vice president of the Los Angeles Herald Examiner. He has a Juris Doctor and a Doctorate in Psychology.

The Chains of the Maastricht Treaty

Who has benefitted from the United Kingdom agreeing to Article 104 of the Maastricht Treaty?

A German TV program on the financial crisis suggested that there are 500 lobbyists from the banking industry for every lobbyist from the real economy.

The Treasury spelled it out in a letter to Alexander Baron, publisher of Financial Reform: Article 104 expressly forbids credit facilities for national governments. That means, governments are expected to borrow in the free market, while the EU overlooks their deficits, i.e. needs for borrowing. What a claim to supra-national control!

IMF plots world money issuance without accountability, Rickards tells King

Whenever in Cassandra mode, I’ve seen it coming long ago. Here is financial consultant and advisor Jim Rickards telling King World News about it, thanks to the remarkable Gold Anti-Trust Action Committee GATA:

  • Special Drawing Rights (SDRs) exist since 1969 “to alleviate the shortage of US dollars and gold reserves in the expansion of international trade”
  • They are the creation of another kind of “credit money” that requires interest payments
  • They are allocated to member states, i.e. governments, as a “low cost alternative” to national debts.
  • They perpetuate the general debt economy and centralise control away from governments into the hands of central bankers.

They are bad news – in exactly the way that Michel Chossudovsky talks about the global financial crisis on video.

Goldman, Goldman über alles

This GATA article is a remarkable summary of the madness that has resulted from bankers going berserk in their greed and need for power and control: Goldman can “print money” faster than the European Central Bank – by using credit default swaps. These were invented by J.P.Morgan in the early 1990s.

So governments are not in the hands of central but private bankers! Both create money out of thin air and sell it as “financial products” for interest payments. Meanwhile, we the people, are supposed to believe economists that money is a medium of exchange to fuel the real economy whose “output” is measured by GDP

GATA is one of the best sources of information and analysis one may find. And as professional gold investors they are powerful. That includes taking the Fed to court! Imagine us doing that with the Bank of England!… 🙂