An Ever-Expanding List of Powerful Blogs That Tell an Amazing Story
Posted 5 years, 5 months ago (Monday, April 6th, 2009 at 3:47 pm) by jwsmith
How Iceland, Eastern Europe, Africa and South America can set aside the debts imposed upon them
Professor Michael Hudson’s stunning description of the imminent collapse of the monopoly financial structure which buried Iceland and Eastern Europe in unpayable debt. Iceland and Eastern Europe simply will stand their ground, refuse to pay, and turn to the allying emerging world to fulfill their trade needs: How Iceland and Eastern Europe will Refuse To Pay the Debts Designed to Extract Their Wealth and Emerge as Free Nations (audio). Hudson’s Guns and Butter audio is the full story. The text can be read at http://www.globalresearch.ca/index.php?context=va&aid=14800. Hudson updates the Eastern European-Iceland story. Ellen Brown carries those concepts further forward. Hudson expands on the story further yet. Giordano Bruno alerts us to the identifying signs of that final collapse. Mike Elk explains how the same banksters are using the same derivative scams to bankrupt state governments within America. Eastern Europe chickened out, and are putting their citizens deeper into poverty to pay Western Europe. However, now Greece, Spain, Portugal, and Italy are also set to be bled dry and other countries, including America, will be next.
Taking a page from Iceland’s rejection of unjustly incurred debt, Ecuador and other South American countries are renegotiating their debts for roughly 35 cents on the dollar. Look for Africa to follow suit, look for countries to legislate those unjust, unproductive, debts as illegal, look for repurchase price of those debts to keep dropping, and look for Arab oil nations -and- South America to create a single currency for internal and regional trades. China and Russia are pushing for a world currency to replace the dollar. Recognizing that threat to the imperial nations, The IMF is considering being the creator and manager of that world currency.
For some time we have predicted that Japan would eventually ally with Asian economies and they all will decouple from America and Europe (They are in the early stages of that decoupling). On top of the obvious gains of trading technology and capital to Africa and S. America for access to resources, Japan has not forgotten their defeat in WWII, destruction of Hiroshima and Nagasaki, or the indignity of the yet on-going partial occupation. After reading Matt Taibbi one can be sure the emerging world must decouple from the collapsing empires to assure their own survival. Billionaire financier Jim Rogers says that deeper world collapse is coming this year (2010).
In Rolling Stones Magazine Matt Taibbi explains how Goldman Sachs has enough control in the markets they convert their derivative bets into sure profits. This is the best outline we know of how the primary purpose of derivatives is to extract wealth from an economy such as was being done to Iceland and Eastern Europe: The_Great_American_Bubble_Machine, a Video on Goldman Sachs Controlling America’s Economic Recovery Team and Ellen Brown explaining Goldman Sachs threatening to crash the economy if the government does not back off on investigating them or if they legislate control over them. Brooksley Born explains the struggle, and the failure, to regulate derivatives. (with which the banksters were destroying nations as explained above by Taibbi) See also Mike Whitney.
Professor Michael Hudson’s The Financial War Against Iceland is an earlier lead up to his above blog. Chris Hedges, The American Empire is Bankrupt, covers the inevitable bankruptcy of imperialism. Michael T. Klare and Paul Craig Roberts explain its collapse is well ahead of schedule and David Michael Green agrees with Klare and Roberts As this allied empire collapses, Michael Chossudovsky points out how this attempt to control the world is sucking the us into World War Three. Our work explains that Plunder by Trade is the centuries-old fundamental plan and the cause of all wars and all poverty.
Eva Joly, a member of the European Parliament, explains the financial institutions of the imperial nations should accept their share of responsibility for Iceland’s [and Eastern Europe's meltdown.
Hudson's first-out blog above explains why and how the theft of Iceland's and Eastern Europe's wealth will fail which, of course, is what will create The Greatest Depression in History. as addressed by Andrew Gavin Marshall. This is why no media in England or America has yet touched that story (9-21-09) even though it is widely covered in Iceland, Eastern Europe and the rest of Western Europe.
Corruption within private banking, off book accounting, derivatives, and really the entire financial structure
William Black lays out the simplicity on how the derivatives-credit default swap markets are totally procedures to extract wealth from the economy. Their is no intention to produce anything.
Ellen Brown describes how today's corrupt financial structures were put in place over the centuries: The Tower of Basel: Secretive Plans for the Issuing of a Global Currency.
Ellen Brown exposes the purpose of The Bank for International Settlements as a plan for world government controlled by bankers: Big Brother in Basel: Are We Trading Financial Stability for National Sovereignty
And Ellen Brown proves that publicly owned banks are many times more efficient than private banks. In a later article, she points out that many running for state governors and legislatures are running on a platform of establishing state owned banks. Banking is a technology known for thousands of years, the only real capital invested is a little brick and mortar, so what would be unearned money for a private bank becomes earned money with, through lower cost and more secure banking, each citizen getting his or her share of the profits. And Ellen expands those concepts further A corrupt financial structure leads to a Fascist political structure.
For an understanding of the barriers against reality ever penetrating the American Congress, read Matt Taibbi again.
Congressional aides expose to him exactly how both houses are totally controlled by wealth and power.
If one had doubts about American foreign policy being fascist, read James Petras's outline of our death squads decimating Iraq's entire educational structure with the intent of destroying its secular, anti-imperialist, culture.
Is the U.S. on the Brink of Fascism by Sarah Roberts alerts us that we still have time to avert becoming a full fledged fascist society as the current power structure attempts to retain their massive unearned wealth and power. The only difference between full fledged fascism and the massive violence of today’s hidden fascism is that all pretense of democratic institutions is abandoned. Roberts explanation that, if we don’t wake up and change course, America is now in the final stages of becoming fascist is crucial to our retaining what semblance of democracy we do have.
These corrupt governing and financing structures have been imposed upon us over and over throughout history
Most of us are aware of the Christian Rapture, End of Time, Movement and their efforts to control state policy. But guidance of state policy by religion goes much further. This exposure by Jeff Sharlet does not go far enough. The alliances of church and state goes back to 324 AD when Emperor Constantine allied with the Christian Church. Those Fascist alliances were always there within Europe and The Americas during all the intervening 1,700 years and was the foundation cause of the Inquisitions as well as the Genocides across the Americas, in Australia, much of Africa, and also had substantial influence in the slaughters of millions of Vietnamese and Koreans in those two wars.
To put the above alliance of church and state in context, the first 250 years of that alliance killed every educated person all around the Mediterranean, there were no more educated people to run governments, and that dropped Western Culture into the 700 years of the Dark Ages. Before its burning, the Library of Alexandria had a functioning steam engine and research has uncovered they also had harnessed electricity. This means the world would have had cars, trains, planes, radio, TV, and all the rest of a modern economy 1,300 years go if that slaughter of society’s best had not occurred. With thousands of nuclear weapons deployed and imperialism collapsing, the current ongoing alliances has the potential of destroying the world.
This two-page-read, An Understandable Full and Equal Rights Economy in 170 words, is an efficient capitalist economic structure in which wealth extraction, such as described in the above blogs, cannot develop.
And it is all collapsing once more
Ambrose Evans Prichard explains why the world economy will continue to shrink. —-Simon Parry provides more evidence. Quite simply, world capitalism is crumbling and, if war can be avoided, the world governing and economic systems will be radically changed.—-Walden Bello — and the conclusion of our own research, the simplicity of eliminating poverty and war will stun you, provides complimentary examples of the massive necessary changes.
Mike Whitney on how the American Congres was stampeded into rescuing the very people who caused this financial crash. — See alsoDonald L. Barlett and James B. Steele’s explanation of how that money was simply thrown at bankers, even those who did not need or want it. While they threw money at themselves, they had to throw it at others or the theft would be too obvious.
Matt Taibbi, best of all blogs on the subject, explains how the the big boys of the naked short sellers had consumed all the small companies, started consuming each other (Bear Stearns, Lehman Brothers, Merrill Lynch disappeared), the takeover of the Fed, the Treasury, and the government by lackeys of the remaining two (Morgan Stanley, Goldman Sachs) to pour newly created money at themselves to stave off their own collapse. My view is these thieves all know this economy is going down and their massive salaries and bonuses are going into safe havens such as gold so they come out on top.
Ambrose Evans-Pritchard on how credit (loans) within the banking system still shrinking at depression era levels (August 2009) belies the claims that this economic collapse has bottomed out. Ellen Brown alerts us that investors in mortgage backed securities may end up with no access to the courts to collect their money or repossess their property.
Ellen Brown again on socially owned banks being always more efficient than private banks. Her story is also a key tenet of the above 170 word thesis for full and equal rights for every citizen of this earth addressed above and below.
Tony Benn explains how Western democracies have at all times in history been under the full control of the wealthy and powerful and we still have to fight today, both at home and around the world, to establish true democracies.
If you have any doubt that Western history is primarily “plunder by trade,” read John Pilger.
Stephen Mihm alerts us that decades ago Hyman Minsky demonstrated why capitalism will inevitably crash.
Judy Rebick tells us the developing world is rapidly discarding the historic system of theft of their wealth.
Examples of the corrupt structure of different sectors of the US Internal economy
The total corruption of capitalism as currently structured is being exposed. Mark Ames and his description of the same investors buying up the life insurances of the ill while simultaneously battling to prevent affordable health care is a good example. Films such as The Corporation,” a 145 minute film by Mark Achbar, Jennifer Abbott, and Joel Bakan, and Michael Moore’s “Capitalism: A Love Story,” fully lay out this corruption. Nikki Alexander also does a great job.
Nomi Prins explains to us the simplicity and low costs of plain vanilla loans within our banking system and the enormous costs of the totally non-productive wealth extraction process within the ethereal world of high finance banks have expanded into.
From a novel and mind bending direction, Matt Bivens explains that same wealth extraction process.
From a third perception point Sarah Anderson and Sam Pizzigati explain that ongoing theft of our wealth.
Mark Ames again explaining the collapse of communities as values fall. These debts are the unearned wealth being loaned back to those from which it was extracted. had to be repaid even as jobs and retirement funds disappeared. Many now realize these massive sums of finance capital are inefficient and unproductive but few realize it is unearned, extracted, wealth. That story of unequal property rights law, as applied to nature’s resources and technologies, denying others their rightful share of what nature offers to all for free (the 170 word thesis addressed both above and below), stands almost alone in The Institute for Economic Democracy’s (our) work.
Les Leopold on how, through the their control of the totally non-productive ethereal world of high finance, the top 1% gained wealth during this financial collapse while the producers of that wealth became impoverished.
Robert Fisk’s explanation of how the unearned massive accumulations of the wealth, belonging to us all in roughly equal shares, addressed by the authors just above, and now collapsing the entire capitalist system, is spreading across the blogosphere like wildfire.
Learning how the pharmaceutical industry is more a wealth extraction industry than a protector of our health (drugs marked up 2,000 to 500,000 percent over the same generic drugs and many drugs causing severe health effects and deaths) gives us the knowledge to both protect our health and join the struggle for single payer health care.
The above blogs tell us that most finance capital is only extracting wealth from the economy. William K Black explains this the clearest.
The Mandelman Matters blog explains a win at the Supreme Court level which could slow down this wealth theft machine.
The foundation concepts or our research, An Understandable Full and Equal Rights Economy in 170 words, tells us that most this finance capital (misnamed as profits) is unearned. This unearned wealth is far more than the wealthy can ever spend or find a safe place to invest. So those sums just get larger and larger and are “invested” in the totally non-productive gambling games addressed by the authors just above. We need you, the reader, to connect all the dots between the “unequal property rights laws denying others their rightful share of what nature offers to us all for free” (the same above 170 word thesis) and today’s unproductive, unearned, wealth masquerading as earned wealth.
How control of our perception protects wealth and power
We need to understand how The Wealthy Hard Right has Established NGOs (Non Governmental Organizations), Given them Beautiful Names, and Filled up Most the Political Space. — Part II and Part III. In Democracy: A Grand Strategy for World Peace and Prosperity I Christianed similarly established international NGOs “Destabilization Foundations.” There are a few truly progressive NGOs but, so as to control the perception of the masses, most the money is poured into hard right think tanks these same people established for that purpose.
Antonia Hoyle and Fidelma Cook explain AbdelBaset Al Megrahi, the Lockerbie Bomber, was released because the 20 grounds his lawyers were ready to file for his appeal would surely prove the courruption in his first trial and his innocence. We include this here because such astounding proof of railroading innocents to prison just to damage targeted countries will receive little press in America.
Galal Ghazi alerts us to the massive spike in cancer and birth deformity in Iraq. This alerts us to the eventual destruction of the Iraqi gene pool as we pointed out in Economic Democracy: A Grand Strategy for World Peace and Prosperity, p. 83, 2009 edition, would eventually happen. Birth defects in the worst affected areas are now 25% and cancer in those areas have increased 250%. The American corporate media never touches this subject so most Americans may never learn of this tragedy imposed upon the descendants of the cradle of civilization. But the rest of the world will know and, along with the massive deaths they have imposed all over the world the past 60 years, America will be judged as one of the most brutal empires of all time. See the articles grouped with Fabricating Incidents to Start Wars and American Airmen Finished Out Their Lives In Soviet Prisons.
Thinking we are free thinkers is the very heart of how we are controlled (four parts). Almost every society, especially the violent ones, control the perceptions of their masses.
The allied empires of Europe and America are going down and taking much of the world down with them.
As in the protracted death of any beast, its death throes will create massive havoc. We anticipate major parts of the world abandoning the dollar and forming their own trading currencies. Go to The 21st Century Will Be Determined by the Rapidly Emerging World to understand this process.
The blogs on the collapse of Europe and America are coming in so fast that to keep listing them here would be abusing you. Go to http://www.informationclearinghouse.info/ and order Information Clearing House delivered to your inbox every day. Look over http://ml-implode.com/ every day. Both of them publishing the top blogs from other blogsites keep you well informed. When the collapse is on in earnest, or if they are able to stabilize (actually re-balance) the world economy by impoverishing labor while the wealthy retain their massive stolen wealth, as the powerbrokers are trying to do, we will start posting those results.