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More Attacks On American Corporate State Hegemony - BRIC Nations Plan New Bank To Bypass The Looters At The IMF And World Bank

TimingLogic's picture

We’ll see how this BRIC plan develops but this has the potential to be a huge sea change. Although I certainly don’t believe any political or state-driven development in this environment as necessarily having lasting value. ie, As an example, just because our king, Obama, makes decrees from on high without having any idea what he is doing, that doesn’t mean his edicts will ever come to pass. Ditto with China, Russia or anyone else. That said, pretty much the entire world is rebelling against this system of American hegemony. That includes most Americans.

The world’s reserve currency was determined by the barrel of a gun after World War II. Because the U.S. was the last man standing at the time, it essentially granted itself complete control over voting rights at the IMF and World Bank. These two institutions are used by Washington politicians and American corporations to loot the world as noted on here many times. (The Germans, French and British are also are a lesser part of this cabal. But these institutions are clearly controlled by the U.S. power. The criminal Cyprus confiscation, and it clearly was criminal, was driven by the IMF in concert with the ECB. That means the U.S. either endorsed this confiscation or turned a blind eye while European IMF members used the institution for their own political purposes.)

Most certainly this announcement by the BRICs to start a new global development bank is just the latest in what has always defined corporate capitalism; a continuous covert trade war and its endless victimization of innocent people around the world. This announcement is certainly meant to counteract the endless nondemocratic, smarmy back room deals made in the U.S. that involve global trade. That includes Obama’s very secretive, nondemocratic Trans Pacific Partnership corporate trade agreement. A completely nontransparent deal that seeks to isolate and exclude China with a corporate-controlled Asian trade zone with the U.S. This is the same type of smarmy, secret dealings of Bill Clinton and Al Gore that created corporation-inspired neoliberal trade agreements with China, Mexico and other nations. All of these agreements allow(ed) American corporations to loot with impunity. And, of course, the Clinton-Gore deals put the final nails into the coffin holding the American economy, democratic economic determinism and the American citizen.

We really don’t know what the motives are each nation in this latest agreement. But we do know their intent surely is not virtuous. They simply want some of that American pie for themselves. They want to control global capitalist trade for their own mercantilist, self-interested reasons. And banking has always been the way to enslave the world. But then the U.S. policy leading to this latest development in covert trade wars isn’t virtuous either. Regardless, this announcement is an uptick in violence against the peoples of the world. How can I say that? It’s simple. Almost every nation that needs an economic development loan from the IMF or the World Bank or this new organization created by the BRICs is corrupt anyway. They have either been corrupted by constant meddling by global powers like the U.S., Britain, Russia, China or whomever or they are run by family fiefdoms or warlords. The BRICs simply want to enslave other nations to serve their economic interests just as the U.S. does. And use their own bank to do so. Another example of a modern-day Treaty of Tordesillas; a more equitable way for powerful states to carve up the world for enslavement and share the spoils.

Every nation on earth has it within their own power to create their own capital without the need of becoming indebted or enslaved to global corporations or the external force of another state. The only reason why they don’t create their own capital is generally because of corruption, lawlessness and tyranny. Free people are industrious, creative and able to make their own economic opportunities and create their own capital without becoming slaves to bankers or global corporations. Umm... which is why the U.S. has 25% unemployment and government transfer payments are up over 800%, after inflation, in the last 30 years. We are not a free people. We are corporate slaves. Nor do we enjoy the fruits of our own democratic economic determinism. Countries may initially need development assistance – education, know-how or raw materials and the like - but in today’s world development assistance mostly comes in the form of guaranteed contracts that enable corporations or countries to loot. That is not development assistance.

Obviously another intent of the BRICS is that they wish to get out from under American economic and military hegemony granted through the concept of a reserve currency and its associated banking organizations - the U.S. dictates almost all economic terms to the world today. That is what allows the corporate state to loot with impunity. In other words, we lost 30-odd million jobs in this nation not because we were uncompetitive with some other nation but because our politicians sold out American citizens and our democracy for their own self-interested corruption. The World Bank lists the U.S. as the 4th easiest economy in which to do business, just below New Zealand, another global power. China is 91st, behind despots from Kuwait and right above global powerhouse Guatemala. The U.S. has no competitiveness issue. It has a political corruption issue.

I could write a book on the topic of how the world’s reserve currency is used to loot the world. But, then why should I? It has already been written. If you don’t understand this concept, I would suggest you consider a book that was relatively recently written titled “Confessions of an Economic Hitman”. The author explains how he was recruited out of college by an American government front corporation. And how this front company was used to enslave the world in dollar-denominated debt using the IMF and World Bank. Then use that debt or threats to reduce economic aid to bankrupt or extract austerity from those enslaved nations. Then force these countries to sell off choice resources – austerity - to American companies in return for debt forgiveness or better terms or increased aid or whatever. Of course, if you didn’t play by American rules, then you probably ended up on a hit list to be murdered or something similar. Sound familiar? It should. The corporate state is now pulling this on American citizens by terrorizing democratic institutions in our nation and Europe with austerity and similar threats. Plenty of money to bomb the world into submission or build more tanks or bail out banking criminals or spy on Americans. No money to feed, cloth and educate our children or provide a roof over the heads of Americans or provide us with healthcare or create living-wage jobs.

Speak of which, Hugo Chavez’s recent death - caused by cancer - reeks of possible foul play. He is now the 9th cancer death by South American presidents since 2009. All of them refused to comply with American-inspired neoliberal globalization “free market” (looting) policies. Whether these people were killed by the CIA or banksters or whomever, we have no idea. But the chances of them all randomly contracting cancer seems far too suspicious to exclude the possibility of murder by American corporate or government interests. Especially since there is now ample evidence our politicians engage in murder around the globe. Obviously, nine cancer deaths of these leaders could be a wild coincidence. But without transparency we simply can’t make any informed, reasoned conclusions about what is happening. There is certainly circumstantial evidence that deserves further investigation.

Frankly, while on the topic, what do Iraq, Libya and Iran have in common? Other than the U.S. either wants to or has bombed them into submission. They all wanted to dump the dollar and settle their country’s oil sales in either other currencies or gold. The fact that all three were and are targeted for regime change by the U.S. is likely no coincidence. If the petrodollar is no longer needed to buy oil, the dollar reserve currency status would almost certainly outright collapse or lose the vast majority of its power. And, with it, so would the U.S. corporate empire. Is that fact worthy of war by the corporate-political ruling class in the U.S. to maintain their control over the world? It certainly is plausible. At last for them. Not for the poor foot soldier sent off to their death fighting for such a cause. I have a much easier time believing this is the driver for our policy than waxing poetic about freedom that Obama and his corporate masters tell us. Waxing poetic about freedom while they wage war on the world. The world is full of evil despots. That our saintly and virtuous politicians pick on only those who threaten American corporate hegemony is not likely to be a coincidence. Again, without transparency, we cannot draw any substantial fact-based, reasoned conclusions. But there is circumstantial evidence that deserves further investigation.

It’s certainly not a fringe perspective that I have remarked over the years that when the veil of secrecy falls in our government that we could witness tribunals for war crimes, crimes against humanity, treason, etc in this nation.

"I cannot accept your canon that we are to judge Pope and King unlike other men with a favourable presumption that they did no wrong. If there is any presumption, it is the other way, against the holders of power, increasing as the power increases. Historic responsibility has to make up for the want of legal responsibility. Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men, even when they exercise influence and not authority, still more when you superadd the tendency or certainty of corruption by full authority. There is no worse heresy than the fact that the office sanctifies the holder of it. " -- John Dalberg-Acton

Here is what we can say with a fair amount of evidence, fact and reason. All who seek power and dominion over their fellow man are driven by megalomania and evil. It’s not so much that power corrupts, although there is some truth in that statement, but that megalomania and evil seeks out power. That people who seek power are already evil megalomaniacs who only seek power to ameliorate their inner demons by controlling others. Great men are almost always bad men whether those are U.S. corporate-political leaders, religious leaders or thugs in Iraq or Iran or elsewhere. I see little difference between the likes of Hitler or Stalin and most politicians in any country. They are almost all capable of great atrocities as we are now witnessing. By the way, that Libya, as an example, wanted to accept gold rather than dollars was surely not driven by virtue but because gold is the money of looters and neofeudal lords. Gaddafi was a very bad man. It’s no surprise he was on the CIA’s payroll.

The author of Confessions of an Economic Hitman speaks of his book in this hour long Youtube video here. Or, you can buy the book for a few bucks at Amazon. Or here is a Wikipedia link summarizing the talking points here. Really, reading the book isn’t necessary if you understand how the system works. The United States has almost complete economic control granted by reserve currency status. Just like happened when the British Empire had the same total control when the British pound was the world’s reserve currency. And, they too used it to loot the world with impunity. And, it was called free market capitalism. This economic and global trading system is corrupt beyond words. And, it always has been. Always. Ever since the kings of Europe invented capitalism to loot the world. It’s just now that we see it so clearly with Americans and citizens in western democracies now being targeted by the private, for-profit capitalists. And with the internet allowing the democratization of information.

This new banking development between China, South Africa, India, Russia and Brazil ties in nicely with my long term thesis that we are going to see the current system of trade settlement end/fail this cycle. It is already overdue from a cyclical perspective. The ramifications for this change are incredible and well beyond a simple blog post - although many of my long term theses are, in fact, tied to this dynamic. The unwinding would be devastating to the status quo everywhere. It would speed modern capitalist society collapse around the globe and throw the system into complete chaos. It could lead to outright trade wars and possible even military wars unless democracy, citizen government and public capital replaces neoliberal capitalism, private for-profit capital and politicians. But, if we can make it through all of this, who will benefit the most? American democracy, American citizens and the American economy. The fall of empire will almost certainly restore our economic and democratic determinism. Bad news for China and other benefactors of globalization living on the American corporate dole.

Until then, the dollar remains the world’s safest currency. Why? Because we are free? lol Because our politicians are virtuous? lol Because we are a democracy? lol Because it is backed by a $1 trillion defense budget. The dollar’s value is derived through the force of the world’s reserve currency and the largest military the world has ever seen. A military whose primary intent is to guarantee the dollar’s enslavement and forced use.

Sort of makes you all warm and fuzzy this Easter holiday season, eh? What was that message again? Kindness, empathy, mercy, peace, equality, dignity……….

The cycle of volatility continues.

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jo6pac's picture
Submitted by jo6pac on

Thanks for the update, I've been watching this unfold around the world for sometime. Then with Hugo putting together South Americas bank what a game changer for them. The mad man was going to do the same thing in Africa but we stepped and killed his idea and him. Then there’s China and Russia trading in their own currencies only a matter of time before the dollar sinks to new lows as the Amerikan empire comes crashing down.