Fiat-based, fractional-reserve banking system in slow motion collapse
London-New York Financial Nexus Takes Predatory Capitalism To A New Level
Why the Neocon Cabal is in a fight for its very life
SOTN Editor’s Note:
For those who are unaware the Global Economic & Financial System is literally on life support … as it has been since the Fall of 2008.
Look it, there are many BIG stories swirling around all over Planet Earth right now, but this one is the BIGGEST. Why!? Because it’s ending will have the greatest repercussions for every resident of the planet. Yes, it’s that big and bigger!
You see, the current form of rapacious, predatory capitalism practice by the entire Zio-Anglo-American Axis is in a free-fall collapse. As a matter of scientific fact, no one can stop the coming Crash of the Millennium. Not even the Creator or the Almighty or the Supreme Being would want to stop such a total breakdown of such an inherently flawed financial and economic system. It was a total disaster when it was conceived, and it has only grown more defective by the year.
With this background the reader can better understand what Paul Craig Roberts explains in the interview below. The SOTN editor is a former financial analyst, investment broker and financial planner. Having attended an MBA program as an Economics and Finance major it is clear that Mr. Roberts can explain the arcana of world finance much better than any of my University of Chicago professors. Here’s a previous post which may offer some unique perspective and critical insight on what you are about to read and/or hear.
An Open Letter To The Economists Of The World
SOTN has posted the transcription below of an extremely eye-opening interview that was conducted with Mr. Roberts. His credentials — academic, formal training and professional — have equipped him to present the back story to the ongoing collapse of the global markets. What he describes in simple language is the very essence of the financial and economic breakdown.
For those who prefer the video format, the following link provides the original interview.
VIDEO: Neoconservatives Driving World to War
For anyone who wants to read his most important statements, a partial transcription has been provided below. It is an extremely accurate transcription of his interview with selective bolding that is very important for the layperson.
Whether you are completely uninitiated in these disciplines or a financial expert and/or economic guru, this particular presentation by the good doctor is quite excellent. It’s a real good one to pass around to your family and friend, co-workers and neighbors.
SOTN will be writing a series of articles on this crucial topic of our times. The first will further discuss the slow-motion demolition of the American economy which has been fastidiously engineered to eliminate the middle class. In this way the 99% will pose no threat to the 1% when their unparalleled financial crimes are exposed. The citizenry will be too preoccupied with simply surviving. It is always much easier for those in power to manufacture a World War III when the entire planetary civilization is deep in economic doldrums. This is exactly what the same NWO cabal did just prior to both WW1 and WW2.
The second article in the series will concern the planned controlled demolition of the global economy via the U.S. collapse which has been scheduled for this year. The 2nd Great Depression has in fact been planned for many decades and is aligned with a phenomenon known as the Super Shemitah. For those who are unaware, the year of the Super Shemitah officially ends on October 2, 2016. The covert scheme has always been to duplicate the 2008 market crashes in order to trigger another major recession, only this time it will morph into the 2nd Great Depression. Therefore, anything goes between now and then. ANYTHING GOES … AT ANYTIME!
The third article will take up the subject of how humanity can prevent the coming Economic Armageddon and Financial Apocalypse, as a preventative measure to preclude their hot phase of World War 3. By shedding the light of awareness on these extremely destructive and highly consequential conspiracies, they can be averted. By way of example, September of 2015 was long planned to be the year that the Shemitah events would paralyze the world community of nations. Because so many people around the globe woke up to that nefarious plot, the criminal cabal that has controlled the destiny until now was found out and disempowered.
It’s time to do it again, and arrest all of those involved in this multi-century scheme to rule the world as a permanent planetary plantation … where the 1% are the masters and the 99% serve them for life. It should now be clear why the United States of America is heading into either another civil war or second American Revolution. There really is no stopping it as the transcript below makes clear why that is so.
Bring it on!
State of the Nation
April 6, 2016
N.B. The transcript of the Paul Craig Roberts interview, that is linked above to the YouTube video version, starts here below the line.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Paul Craig Roberts-Neoconservatives Driving World to War
Gregg Hunter [GH] interviews Dr. Paul Craig Roberts [PCR] former high-ranking journalist at The Wall Street Journal, Editor capacity, former Assistant Treasury Secretary, head of all economic policy in the United States.
033GH: Thank you for joining us today on http://usawatchdog.com [Greg shows cover art of Roberts’ new book ‘THE NEOCONSERVATIVE THREAT TO WORLD ORDER] I’ll tell you this is definitely written by a PhD level intelligent, well researched, well-thought-out 400 pages in this book. I want to get to one of the themes you have on your website http://paulcraigroberts.org is THE FINANCIAL SYSTEM IS A MUCH LARGER THREAT THAN TERRORISM, and Democracy Struggling To Recover From Betrayal. The bankers and the criminal cronies are running everything. Okay, can you tell me WHY the financial system is a much bigger threat than terrorism, especially in lieu of the fact that we had this big terror attack in Belgium last week?
1:32PCR: Well, we don’t know if we had a terror attack or false flag event. We really don’t know, do we? I mean we just know what they tell us. I haven’t investigated, so I don’t have an opinion on it but I certainly don’t trust them after all the lies they’ve told about so many other things.
The reason the financial system is such a threat is that it was DEREGULATED and the consequence of it being deregulated is that it’s now over concentrated. There are individual banks that are just TOO BIG TO FAIL so it means THEY CANNOT BE HELD ACCOUNTABLE FOR THEIR FAILURE NOR FOR THEIR CRIMINAL ACTIONS, AND THEY ARE NOT, and so we have big BANKS THAT ARE DEPENDENT ON ECONOMIC POLICY SUPPORTING THEM not supporting the American economy!
Well let’s look at the consequences. For example Greg, the PURPOSE OF ZERO INTEREST RATE POLICY is to raise the price of debt instruments so that the bad stuff on the big bank’s books rises in price and the banks they [solve ?2:56] so the whole purpose of the economic policy is to save 5 big banks. Now let’s look at the CONSEQUENCES of zero interest rates.
> What happens to insurance companies? They’ve got no income on the more-safer form of investment BUT there’s no income; there’s zero interest.
> What happens to income of retirees? They’ve got no income on their savings.
> What happens to pension fund managers? They’ve got no way to allocate the investments that they are managing in a way that there’s some sort of balance, some sort of conservative basis in bonds to match the more risky based stocks, so pension fund management is a mess.
> What’s happened to money market funds? Well if you have zero interest rates you don’t have any most. Many of them closed down.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
3:56GH: I closed mine down.
3:59PCR: Whether you closed it or not the companies themselves closed down the money funds. So you can see right here one big fact of running the financial system from the interest of the big banks, of which there are 5 of them, is everybody else’s problem. What else do big banks do? They financialize the economy. They don’t do anything productive. The banks don’t lend for new business, or new plant, new equipment, new manufacturing jobs. What they do, almost all their loans, in fact all of their loans, are financing the transfer of ownership of existing assets. Most of this is a rules thing. The asset is there, they’re just financing the change of ownership. They also finance companies that want to buy back their own stock. So there is nothing productive that comes out of this but every time that they finance a change in ownership there is ANOTHER DEBT INSTRUMENT SUCKING INTEREST out of the economy.
If you’re loaded up with debt, and you’re paying all this interest, you don’t have any discretionary income to buy goods and services, and this is why we can’t get an economic recovery. This is why there is no growth and no retail sales. So the whole purpose of a financial system is to put more and more assets into the form of debt instruments that pay interest to the financial system. So this is the 2nd big reason.
The 3rd big reason is that they can control economic policy. Look who controls the FED, who controls the Treasury, who controls the financial regulatory agencies. They are all executives of the big banks.
6:06GH: Case in point. They just had a guy plead guilty to a misdemeanor from the FED who stole documents and gave them to his old boss at Goldman Sachs. He got some hours, no jail time, and a few thousand $ fine. No jail time!
6:28PCR: Compare him to what they are doing to Julian Assange and Edward Snowden. They claim they stole documents and we are determined to destroy them. One of them is hiding out in Russia and one of them is in the Ecuadorian Embassy in London. This again shows the immunity of the banks. They are NOT held accountable because they control. Look, who controls the FED, who controls the Treasury? Where have all the Treasury Secretaries come from? They come from the big NY banks. Look at the financial regulatory agencies that are supposed to regulating the banks. They all filled with executives from the banks.
7:22GH: What you are describing is a giant criminal enterprise between the banks and government. Is that what you’re saying?
7:26PCR: THE BANKS CONTROL THE GOVERNMENT. There isn’t a government. It’s the banks.
7:35GH: You talk about how that we are struggling in one of your pieces. ‘Democracy Struggles’ is something you wrote a few weeks ago. ‘Democracy Struggles to Recover from Betrayal’, and you bring up Sanders and Trump, you’re not trumping for either one of them but they’re outside; outside outsiders, and you’re saying that the real criminals in the whole system, the people who have brought us down at least in recent history are Bush, Clinton, and Bush, and Obama; the real criminals in the system. Is what’s happening with the trashing, ignoring Bernie Sanders, he’s only 300 delegates behind Hillary Clinton, and the trashing of Donald Trump. You know they have this poll question at Fox News, ‘Who Do You Fear the Most?’ what kind of a question is that, stupid! And is that what you’re talking about? They’re wanting to hang on to power, they want Hillary, they’d likely have Hillary if they can’t have their own republican.
8:40PCR: The United States is controlled by powerful, private interest groups. And these groups don’t trust outsiders because they don’t have their hooks in them. How would they have their hooks in Trump? I mean, he’s a billionaire, he doesn’t need their money. They can’t tell Trump, hey look we’ll give you a $153 million speaking fees like we did with Bill and Hillary Clinton. He doesn’t care. He doesn’t need $153 million he’s got billions. So they can’t control him and the same for Sanders; even though he is a Democratic Senator, he is not really part of the Democratic Washington establishment. Well, what the party establishment is so interested to do is to control the party. They would much rather keep control of the party than to win an election, if it means they lose control to an outsider.
9:47GH: That’s what they mean, the Republicans, this will destroy the Party, no, it will destroy the cash flow to the criminal crony class. That’s what it really is, isn’t it?
9:55PCR: The private interest groups control the government because they provide the campaign financing for candidates, and they provide very LUCRATIVE JOBS for politicians AND staff, when they leave the government, when they leave the congress. And so, the way you have a political career is you represent several powerful interests that you know, and who keep you in office, and when you’re ready to leave office we’ll provide you with a million dollar annual income. So the government in effect is privatized. Do you see what I’m saying? There isn’t any government. The people in government privatize it. For example, I just read this in Lofgren’s book The Deep State.
When Hastert was Speaker of the House [this is an example now of how government is privatized] he bought a whole bunch of land, and then he loaded up the Transportation Bill with roads going though his land, which would raise the value of the land. Of course he bought the land under an anonymous firm but all this came out. Well, this is typical of how government can be privatized. This is from the congressional standpoint.
From the interest group standpoint it can be privatized in all the ways as I just told you the banks have done; we have the entire economic policy of the USA focused on saving 5 banks. TEN MILLION PEOPLE HAVE LOST THEIR HOMES, NOTHING WAS DONE FOR THEM! But 5 BANKS, oh, they’re SAVED.
The entire monetary policy, the entire Federal Reserve policy is geared toward these banks, and everyone else suffers, as we said the insurance companies, the pension fund managers, money market fund, retirees. So, here you see, there is really not a government capable of acting in the general interest, in the welfare of the country, it HAS to act in favor of the oligarchic interests that RULE, and this is the way America is really governed. THIS IS WHY YOU CAN’T CHANGE THINGS WITH ELECTIONS!
And even if you get a president Greg, who intends to do change, how is he going to bring it about? There are so many appointments that have to be made when he’s put in office. The people who get in office, they’re there to use the office for their career, NOT for the president’s policy. If you get to be a presidential appointee you’re looking for the interest group to serve that makes your future secure. So it’s almost impossible for, even if Trump were to be elected and permitted to serve office, which I don’t think [?13:18] assuming he’s there … [host interruption]
13:22GH: What do you mean, they would kill him?
13:25PCR: They could. But I think they’ll just, like they did Ron Paul, they just won’t recognize his delegates. Did you see Pat Buchan’s article? The other day he wrote about how the Neoconservatives are already organizing a way to block Trump when he wins the Nomination, and been given the Nomination.
13:50 GH: It’s outrageous!
13:51 PCR: They’ve brought up. They’ve got 2 candidates that they’re going to propose at the Convention in order to save the Party from destruction.
14:02: GH: Save the criminal cronies.
14:03 PCR: And they’re going to save themselves, and the Neocons want to save their aggressive policies toward Russia, toward the Muslims, toward the rest of the world. And Trump has said he will work things out with Putin, and Trump has also said that he would be sure they finally got an investigation of 9/11. Well this scares the Neocons to death. They don’t want a real investigation of 9/11. So why are they so scared? If the official story is right they wouldn’t care if it is investigated. The fact that he is going to investigate 9/11, and work things out with Putin he is a DIRECT THREAT to the Neoconservatives!
14:48GH: And you don’t think that he’ll even be permitted? If he wins the 12:37 there is going to be anarchy. I’m telling you, what this is going to show is that the criminal crony class is going to commit crimes to stay in power that we don’t have really a democracy, is that what you are saying?
15:05 PCR: Yes exactly. It’s obvious. They’ve already made this clear. Look, go read Pat Buchan’s article. He describes the memos, he quotes William Kristol, and the others, and describes what they’re saying, what their plot is. But there’s nothing unusual about this.
15:28GH: It’s just more in the open now.
15:29PCR: Don’t you remember a few months ago, when the Commander-in-Chief of the British Military said that if Jeremy Corbyn the Labor Leader, was to win the elections the military would not allow him to be the Prime Minister.
15:53GH: So we have this faux democracy in the West, we really don’t have a democracy. We really are being ruled!
15:58PCR: There’s an oligarchy. The oligarchy protects itself. It hides behind the elections, but CONTROLS THE CANDIDATES! Well this time it hasn’t been able to control the candidates because the AMERICAN PEOPLE ARE FINALLY CATCHING ON THAT NEITHER POLITICAL PARTY REPRESENTS THEM! They’ve been out of work too long, they’ve been struggling too long, income declining, nothing works for them. And so Trump talks differently. They say, we may as well bet on him. We know the others aren’t going to help us, maybe he will!
16:38GH: Bernie Sanders, he says crack down on the banks, and he’s right about that.
16:44PCR: That’s right. So these 2 are not playing by the oligarch’s rules, and so the media has been sick on both of them. And of course you can see the attempt to demonize Trump, they’re going to demonize him worse than they did Putin, or Saddam Hussein, or Assad, or Iran, or Gaddafi. It’s the same. You can see the same thing happening. It’s like you say, ‘Who scares you the most?’ says Fox New
They’re going to make Trump the bogey man but it doesn’t seem to be working because I think people have finally decided they DON’T TRUST THE MEDIA, they know that the other candidates will not do anything for them; maybe Sanders. And so, the traditional candidates that the oligarch’s rely on, you know Jeb Bush, Rubio, all those people, they bit the dust! And so we also have Republicans stating publicly that if Trump were to have a Nomination they would vote for Hillary.
18:00GH: Which shows that the Neocons at the top, which gets us into your book, THE NEOCONSERVATIVE THREAT TO WORLD ORDER. Some people think the Neocons are only the Republicans. Oh NO, NO, NO! They’re in both Parties. There is what, Samantha Powers, Hillary Clinton, there is all these people in the Democratic Party as well as the Republican Party.
Buy the book! There are a lot of great nuggets. You talk about the looting of the Ukraine, you talk a lot about Dr. Paul Craig Roberts, about American Exceptionalism justified, do anything you want to do, US war crimes in Africa and the Middle East. And here’s where I want to start, DON’T EXPECT TO LIVE MUCH LONGER is one of your chapters. You are giving a warning in your book THE NEOCONSERVATIVE THREAT TO WORLD ORDER. You are giving a warning that if these people keep going, the end result is going to be war and promptly a nuclear one. Please talk about and let’s start with DON’T EXPECT TO LIVE MUCH LONGER if these weasels stay in power and keep doing what they’re doing. Fine book, go ahead.
19:15PCR: Well the Neoconservative ideology is American world hegemony. To have hegemony around the world means you have to subdue the others. This includes Russia and China. We have two nuclear powers with massive military capabilities, and they are in the way of the Neoconservative agenda, of world empire, of world hegemony, and so the Neoconservatives are driving the United States AND Western Europe INTO CONFLICT with Russia and China. Russia and China are not going to give up and say okay we’ll be America vassals like England, and France, Germany, Australia, Canada, and Japan. They are not going to do that.
They made it quite clear that they are going to look after their own interests, they have independent foreign policies, and they don’t approve of us. And so, but the Neoconservatives, their whole ideology is that they cannot tolerate any other country that can serve as a ‘check’ on American unilateralism.
20:42GH: But aren’t we getting close to our financial system cracking, and China, and Russia, and the BRICS, I know they’ve having some of their own problems now, but aren’t we getting close to them pulling the plug on us, and turn around on our economy? Isn’t the economy getting kind of shaky and a bit freaky?
21:00PCR: Our economy is a house of cards. It’s held up by the Federal Reserve, and the question is how long can they hold it up? You know we’ve talked about this before, and I told you I’ve been surprised at how long they have been able to hold it up, and I think they can hold it up until there’s a run on the dollar. But they have that kind of under control too, at least for now.
And all the problems the BRICS are having, I believe they originate in Washington as part of the attack. For example look what’s going on in Brazil. We tried to have arrested the leaders of the Reform Party. First we had LuLa, now we have this woman, Russian name Rousseff, and they’re both facing arrest and indictment. And THIS IS OUR DOING. We are trying to get rid of the political party in Brazil that took Brazil into BRICS, into the alliance with Russia, China, and India. And of course the Obama Administration overthrew the Reformist government Honduras. It is currently trying to overthrow the successor of Chavez in Venezuela, Correa in Ecuador. We got rid of the woman who was President of Argentina, got her framed up on some charge. We now have in this right-wing Neocon coup governing Argentina.
So the United States’ ability to overthrow governments, it doesn’t always require military intervention. That’s what we use in the Middle East. We overthrew the government in Ukraine without a military intervention.
23:00GH: And do you think this is all leading to global war? I don’t see us averting it. In order to avert it we would have to say that we don’t want to have world domination, or the Russians, the Chinese, the Indians, the Brazilians, and everybody else in the world that is against us, the BRICS in effect, would have to say yah, yah, yah we’ll be your vassal state, and you say that isn’t going to work. So you’re predicting that we’re going to have war on this trajectory.
23:29PCR: Right, there’s no way around it unless of course, the American empire begins unraveling, which it could do, if you look at Europe. You see, NATO IS OUR COVER! NATO covers up for us, covers up war crimes, provides foreign bases, provides diplomatic cover for our actions that would otherwise be denounced around the world as war crimes. So what’s happening to NATO? They are now being overrun with refugees from our wars in the Middle East.
24:12GH: That’s a nice back-fire.
24:14PCR: Yah, it’s a back-fire but it also puts the existing political Parties in Europe under a lot of pressure, and the distant Parties are rising in influence. So, the traditional Parties are having to say well look, supporting the Americans like we’ve been doing, look what trouble it’s causing us. Another thing is they are beginning to realize they’ve been pushed into conflict with Russia, NOT just economic conflict from which Europe has already suffered but into military conflict. Well the Europeans don’t have anything to gain from military conflict with Russia. It would be the end of Europe. Least of all the Germans won’t conflict with Russia, they remember WWII.
24:58GH: They remember East Germany.
25:02 PCR: And so they are beginning to say, you know being American vassals is very expensive. What are we getting out of this? We’ve got millions of refugees, we’ve got now much stronger opposition parties against us, we’ve got the people now worried about military conflict with Russia, these Americans are so reckless and aggressive, look the Americans have Turkey and NATO, and look at what the idiot President of Turkey did, he shot down a Russian plane. What if the Russians had struck back?
25:37GH: He was financing ISIS with oil and we were allowing him to. I was saying for months why don’t we bomb these oil [25:43?] Because our NATO partner is buying their oil and selling it on the world market, AND FINANCING ISIS!
25:51PCR: Right.
25:53 GH: You can’t make that up!
25:55 PCR: No, it’s not made up. The Russians had to break up the oil transactions. They bombed the fleets to stop the transfer of oil. Well, as all this comes out, Europeans see this and begin to realize that, you know we’re getting drawn in too far and we’re going to suffer consequences, and why are we doing this. So you could see that we lose our European empire or some elements. It would only take 1 country to pull out and then the rest will. So we can have some hope from the standpoint that the Neoconservative agenda has put so much pressure on the established European political parties that they could finally just say, well look, we’d better get an independent foreign policy, and stop being American vassals because it’s too costly to us, and we don’t get anything out of it. What do we get out of it, invitations to the White House? Well it’s not worth it. So it’s not completely a foregone conclusion we’re going to be forced into a nuclear war.
27:23GH: But they could, the Neocons are just crazy enough, because you told me before me on this channel, and I looked it up and you’re absolutely correct, that they’ve changed the first strike policy that you know, oh we can have a first strike, a preemptive nuclear strike, and they think they can win a war, if they think they could lose control of the economy, or their power structure, or the world, or being taken into bankruptcy. Do you think they might pull the trigger on nuclear war or heck, just to roll the dice?
27:53PCR: They could do that. I think that the danger would be greater if Hillary is President. In fact, IF HILLARY IS PRESIDENT the chances of WAR WITH RUSSIA AND CHINA are extremely high.
28:09GH: That’s why they don’t like Trump because he says, hey I can work it out with Putin.
28:13PCR: What did Hillary say? She said that Putin is another Hitler. So how do you work it out with a new Hitler?
28:22GH: Yes, thank you Hillary Clinton for destroying Libya, and 300,000 dead in Syria, and arms sales, and oh your private server, in my opinion you can make play to pay deals and bribes.
28:35PCR: Greg, think about it. What’s the difference between what Hillary Clinton did with classified documents and what Edward Snowden did?
28:45GH: What she did is like orders of magnitude worse. Nobody died with Edward Snowden. He didn’t sell anything. I mean somebody could die. These things are so secret that they can’t even release them. They might not even be able to show them in court.
29:07PCR: So the point that I am making then is how come we want Snowden incarcerated at all? That if you’re part of the oligarchy you can violate whatever law you want, and you’re trying to alert the American people to the criminality of their government, and they’re going to get you. So, I think this is further evidence that the notion that the United States is a democracy, or has a Rule of Law, or holds everybody equally accountable is obviously nonsense. The oligarchs are immune. They have immunity. And people who try to help the Country get sent to prison.
30:03GH: Wrap up.