Tag Archives: Banksters

Apr 24 2012

The European Stabilization Mechanism, Or How Goldman Sachs Captured Europe

The Goldman Sachs coup that failed in America has nearly succeeded in Europe—a permanent, irrevocable, unchallengeable bailout for the banks underwritten by the taxpayers. 

By Ellen Brown, GlobalResearch.ca

In September 2008, Henry Paulson, former CEO of Goldman Sachs, managed to extort a $700 billion bank bailout from Congress.  But to pull it off, he had to fall on his knees and threaten the collapse of the entire global financial system and the imposition of martial law; and the bailout was a one-time affair.  Paulson’s plea for a permanent bailout fund—the Troubled Asset Relief Program or TARP—was opposed by Congress and ultimately rejected.

By December 2011, European Central Bank president Mario Draghi, former vice president of Goldman Sachs Europe, was able to approve a 500 billion Euro bailout for European banks without asking anyone’s permission.  And in January 2012, a permanent rescue funding program called the European Stability Mechanism (ESM) was passed in the dead of night with barely even a mention in the press.  The ESM imposes an open-ended debt on EU member governments, putting taxpayers  on the hook for whatever the ESM’s Eurocrat overseers demand.

The bankers’ coup has triumphed in Europe seemingly without a fight.  The ESM is cheered by Eurozone governments, their creditors, and “the market” alike, because it means investors will keep buying sovereign debt.  All is sacrificed to the demands of the creditors, because where else can the money be had to float the crippling debts of the Eurozone governments?

There is another alternative to debt slavery to the banks.  But first, a closer look at the nefarious underbelly of the ESM and Goldman’s silent takeover of the ECB . . . .

The Dark Side of the ESM

The ESM is a permanent rescue facility slated to replace the temporary European Financial Stability Facility and European Financial Stabilization Mechanism as soon as Member States representing 90% of the capital commitments have ratified it, something that is expected to happen in July 2012.  A December 2011 youtube video titled “The shocking truth of the pending EU collapse!”, originally posted in German, gives such a revealing look at the ESM that it is worth quoting here at length.  It states:

The EU is planning a new treaty called the European Stability Mechanism, or ESM:  a treaty of debt. . . . The authorized capital stock shall be 700 billion euros.  Question: why 700 billion?  [Probable answer: it simply mimicked the $700 billion the U.S. Congress bought into in 2008.] . . . .

[Article 9]: “. . . ESM Members hereby irrevocably and unconditionally undertake to pay on demand any capital call made on them . . . within seven days of receipt of such demand.”  . . . If the ESM needs money, we have seven days to pay. . . . But what does “irrevocably and unconditionally” mean?  What if we have a new parliament, one that does not want to transfer money to the ESM?  . . . .

[Article 10]: “The Board of Governors may decide to change the authorized capital and amend Article 8 … accordingly.”  Question:  . . . 700 billion is just the beginning?  The ESM can stock up the fund as much as it wants to, any time it wants to?  And we would then be required under Article 9 to irrevocably and unconditionally pay up?

[Article 27, lines 2-3]: “The ESM, its property, funding, and assets . . . shall enjoy immunity from every form of judicial process . . . .”  Question:  So the ESM program can sue us, but we can’t challenge it in court?

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Apr 23 2012

Chicagoans Warned to Evacuate Before Globalist Instigated Riot During NATO Summit

By Kurt Nimmo, Infowars.com

Residents of a Chicago condo received a letter from management last week informing them that they should move out of their homes during the upcoming NATO confab to be held in the Windy City next month. If the residents decide to remain, they will be subjected to a lockdown.

“In the event of a riot or the potential of one near the building,” the letter states, “all access doors will be locked including the garage door. For everyone’s safety we will be instructing anyone in the building to stay in his or her unit.”

Aaron Klein, writing for WorldNetDaily on Saturday, said radicals with ties to Obama plan to riot during the NATO summit.

In August of 2011, Klein said the founders of a “radical group that teaches tactics of direct action, confrontation and intimidation” were among a “slew of extremist organizations, some tied to President Obama, preparing protests to coincide with major NATO and G-8 summits in Chicago.”

Klein quoted Joe Losbaker of the United National Antiwar Committee, one of the groups planning protests, who warned, “The wars and economic policies of the NATO and G8 nations are not just and will be met by protest.”

Losbaker and his wife, Stephanie Weiner, worked as leaders of the Chicago New Party. It was formed by the Democratic Socialists of America, ACORN and the labor union SEIU. The Communist Party USA breakaway group Committees of Correspondence and the Institute for Policy Studies (IPS) were also involved in forming the New Party.

According to WND, Obama was a member of the now defunct New Party and his name was included in the party’s newsletter.

The IPS is a Marxist organization formed in the early 1960s. It has received funding from the banker James Warburg, the son of the infamous banker Paul Warbrug. The elder Warburg was instrumental in creating the Federal Reserve and was chosen by President Woodrow Wilson to serve as one of its first members.

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Apr 16 2012

FROM LIBYA TO SYRIA: “WAR IS A RACKET. IT ALWAYS HAS BEEN”

By James Corbett

“War is a racket. It always has been.” These words are as true now as they were when Major General Smedley Butler first delivered them in a series of speeches in the 1930s. And he should have known. As one of the most decorated and celebrated marines in the history of the Corps, Butler drew on his own experiences around the globe to rail against the business interests that use the U.S. military as muscle men to protect their racket from perceived threats. From National City Bank interests in Haiti to United Fruit plantations in Honduras, from Standard Oil access to China to Brown Brothers operations in Nicaragua, Butler pointed out how intervention after intervention served the business interests of the well-connected even as American taxpayer money went to foot the bill for these adventures. The names and places may have changed, but the old adage holds: the more things change, the more they stay the same.


The National Transitional Council that is nominally in charge of what is left of Libya announced this week that they’re beginning a probe of foreign oil contracts brokered during Gaddafi’s reign by his son, Saif al-Islam. Libya is sitting on the largest oil reserves in Africa, and it is no coincidence that within weeks of the start of the NATO campaign last year the rebels had already secured the country’s oil ports and refineries on the Gulf of Sidra and established their own national oil company for negotiating contracts with the invading forces. Although the oil contract probes are supposedly meant to show the transparency of the new “government” and their willingness to root out the graft and kickbacks inherent in the old regime, it’s quietly acknowledged that the process will be used to reward the nations that most visibly supported last year’s invasions and punish those who were more reticent.


Surprising, then, that the first companies on the block are Italy’s Eni and France’s Total. Both countries fostered close ties with the NTC last year and France was the first country to officially recognize them as the government of Libya. But now Libya’s general prosecutor is reviewing documents related to these companies for possible financial irregularities. The SEC is getting in on the act, too, requesting documents relating to both companies’ Libyan operations to check for suspected violations of the Foreign Corrupt Practices Act. The potential blow to the European giants’ share in the Libyan market is especially painful in light of the upcoming Iranian oil embargo that threatens to squeeze the crude imports of Greece, Italy and Spain. Now, as Libya ramps up oil production to pre-war levels the obvious potential winners in the probe are the American and British majors, who could end up eating up some of Eni and Total’s share in Libya’s oil production should the investigation lead to charges.


China may also have reason to be wary of their standing with the new government. Chinese-Libyan ties were increasingly close in the years leading up to Gaddafi’s ouster, with trade volume having reached $6.6 billion in 2010. In 2007, as the US was beginning to put AFRICOM together and the competitive scramble for African resources was heating up, Gaddafi delivered an address to the students of Oxford University where he praised China’s hands-off approach to investment in Africa. At the time, Gaddafi suggested that Beijing was winning the hearts and minds of Africans with its reluctance to interfere in local politics, while Washington was alienating the population with their heavy-handed interventions. In the wake of the NATO bombing the would-be government of Libya is singing a different tune and relations with China have cooled down. Last August a senior NTC official suggested that China would be punished when it came time to award reconstruction contracts in Libya because of their initial reluctance to support the rebels. Although the statement was downplayed, it was revealed earlier this month that Chinese companies are still waiting to begin negotiations on losses to frozen and outstanding contracts worth $18.8 billion. Relations are still cordial, though, and the Libyan government is assuring China that the contracting companies  will be in a better position to resume negotiations after national elections in June.


These latest moves from Tripoli may be as much about projecting the idea that the NTC is actually functioning as a government than anything else, though. Armed militias are still waging violent turf wars throughout the country, with 26 people dying in fighting between rivals in the western town of Zwara earlier this month and 150 dying in skirmishes last month in the southern city of Sabha. One militia stormed a hotel in Tripoli and opened fire, then beat and kidnapped the manager after he told a militia member to pay an outstanding room bill. Last week hundreds marched in Benghazi to call for an end to the violence between the armed gangs. The country is deeply divided along tribal lines and armed militias still occupy government buildings and openly flaunt the pronouncements of the erstwhile government. The idea that the NTC is actually functioning as a government is a pipe dream at this point, but as long as they keep the oil pumping and the victors of last year’s humanitarian love bombing get their spoils, there’s hardly a peep out of Washington, Paris, or London. Smedley Butler wouldn’t be surprised.

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Apr 4 2012

IRS Insider Joe Banister Exposes Federal Reserve Coup and IRS Fraud

Joe Banister is the first and thus far only IRS Criminal Investigation Division Special Agent ever to conduct, while serving as a special agent, an investigation into allegations that the IRS illegally administers and enforces the federal income tax. He respectfully reported the results of his investigation to his IRS superiors, up to and including the IRS Commissioner. Rather than address the legitimate concerns raised by one of their own distinguished investigators, his IRS superiors suspiciously refused to address the chilling evidence of IRS wrongdoing raised in his report and instead encouraged him to resign from his position. Observing that IRS management intended to cover up the deceit and illegal conduct alleged in his report, Banister chose to resign from his position so that he could report his findings to the American public. In effect, Banister had to resign from his position in order to abide by his oath to support and defend the U.S. Constitution.

Jan 31 2012

Geopolitical stakes in Nigeria: Curious role of the IMF

Kaduna refinery (photo from nigerianbestforum.com)

As Nigeria spirals into instability, historian and economic researcher Frederick William Engdahl argues a recent government decision to lift subsidies on imported fuel in the oil-rich nation bears the mark of Washington Consensus shock therapy.

In the article below, Engdahl explains his view.

Nigeria, Africa’s most populous nation and its largest oil producer, is from all evidence being systematically thrown into chaos and a state of civil war. The recent surprise decision by the government of Goodluck Jonathan to abruptly lift subsidies on imported gasoline and other fuel has a far more sinister background than mere corruption, and the Washington-based International Monetary Fund (IMF) is playing a key role. China appears to be the likely loser along with Nigeria’s population.

The recent strikes protesting the government’s abrupt elimination of gasoline and other fuel subsidies, that brought Nigeria briefly to a standstill, came as a surprise to most in the country. Months earlier, President Jonathan had promised the major trade union organizations that he would conduct a gradual four-stage lifting of the subsidy to ease the economic burden. Instead, without warning he announced an immediate full removal of subsidies effective January 1, 2012. It was “shock therapy” to put it mildly.

Nigeria today is one of the world’s most important producers of light, sweet crude oil—the same high-quality crude oil that Libya and the British North Sea produce. The country is showing every indication of spiraling downward into deep disorder. Nigeria is the fifth largest supplier of oil to the United States and twelfth largest oil producer in the world on a par with Kuwait and just behind Venezuela with production exceeding two million barrels a day.

The curious timing of IMF subsidy demand

Despite its oil riches, Nigeria remains one of Africa’s poorest countries. The known oilfields are concentrated around the vast Niger Delta roughly between Port Harcourt and extending in the direction of Lagos, with large new finds being developed all along the oil-rich Gulf of Guinea.Nigeria’s oil is exploited and largely exported by the Anglo-American giants—Shell, Mobil, Chevron, Texaco. Italy’s Agip also has a presence and most recently, to no one’s surprise, the Chinese state oil companies began seeking major exploration and oil infrastructure agreements with the Abuja government.

Ironically, despite the fact that Nigeria has abundant oil to earn dollar export revenue to build its domestic infrastructure, government policy has deliberately let its domestic oil refining capacity fall into ruin. The consequence has been that most of the gasoline and other refined petroleum products used to drive transportation and industry, has to be imported, despite the country’s abundant oil. In order to shield the population from the high import costs of gasoline and other refined fuels, the central government has subsidized prices. Continue reading →

Jan 30 2012

Iran, Gold and Oil – The Next Banksters War

Remember the real reason why Moammar Gadhafi is dead. He dared to propose and started creating an alternative currency to the world reserve U.S. Dollar. The lesson learned in Libya is now ready for teaching in Iran. Forget all the noise about going nuclear, the true message is that the banksters rule and nation states serve their ultimate masters. The hype and disinformation that surrounds the push for war is best understood by examining the viewpoint of Iranian MP Kazem Jalali. The Tehran Times quotes him in saying,

“The European Union must be aware that it can never compel the Islamic Republic to succumb to their will and undermine the Iranian nation’s determination to achieve glory and independence, access modern technologies, and safeguard its rights, through the intensification of the pressure.”

“The European Union is seeking to politicize the atmosphere ahead of nuclear talks with Iran and is aware that sanctions on Iran’s oil exports cannot be implemented since the world is not limited to a number of European countries”

Many political commentators warn that an embargo is an act or war. Chris Floyd provides this observation of the recent oil embargo against Iran.

“This week, the warlords of the West took yet another step toward their long-desired war against Iran. (Open war, that is; their covert war has been going on for decades — via subversion, terrorism, and proxies like Saddam Hussein.) On Monday, the European Union obediently followed the dictates of its Washington masters by agreeing to impose an embargo on Iranian oil. The embargo bans all new oil contracts with Iran, and cuts off all existing deals after July. The embargo is accompanied by a freeze on all European assets of the Iranian central bank. In imposing these draconian measures on a country which is not at war with any nation, which has not invaded or attacked another nation in centuries, and which is developing a nuclear energy program that is not only entirely legal under international law but is also subject to the most stringent international inspection regime ever seen, the EU is “targeting the economic lifeline of the regime,” as one of its diplomats put it, with admirable candor.”

The most important aspect of the Iranian response lies in the way that changes oil settlement for delivery and the futile effect of the US/Anglo/EU imperialist dictates have in the marketplace.

Debkafile reports that India (and probably China) will pay for Iranian oil in gold.

“India and China take about one million barrels per day, or 40 percent of Iran’s total exports of 2.5 million bpd. Both are superpowers in terms of gold assets. By trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its central bank’s assets and the oil embargo which the European Union’s foreign ministers agreed to impose Monday, Jan. 23. The EU currently buys around 20 percent of Iran’s oil exports.”

A more detailed analysis in Tehran Pushes to Ditch the US Dollar provided ample arguments that an embargo will fail.

“Iran may be isolated from the United States and Western Europe, but Tehran still has some pretty staunch allies. Iran and Venezuela are advancing $4 billion worth of joint projects, including a bank. India has pledged to continue buying Iranian oil because Tehran has been a great business partner for New Delhi, which struggles to make its payments. Greece opposed the EU sanctions because Iran was one of very few suppliers that had been letting the bankrupt Greeks buy oil on credit. South Korea and Japan are pleading for exemptions from the coming embargoes because they rely on Iranian oil. Economic ties between Russia and Iran are getting stronger every year. Then there’s China. Iran’s energy resources are a matter of national security for China, as Iran already supplies no less than 15% of China’s oil and natural gas. That makes Iran more important to China than Saudi Arabia is to the United States. Don’t expect China to heed the US and EU sanctions much – China will find a way around the sanctions in order to protect two-way trade between the nations, which currently stands at $30 billion and is expected to hit $50 billion in 2015. In fact, China will probably gain from the US and EU sanctions on Iran, as it will be able to buy oil and gas from Iran at depressed prices.” Continue reading →

Jan 18 2012

Romney and Obama Share Same Bankster Campaign Contributors

Kurt Nimmo
Infowars.com
January 17, 2012

Like Obama, Mitt Romney is a wind-up doll for Wall Street and the bankers. There is virtually no difference between them despite all the fetid air from the GOP propaganda machine.

Romney’s Bain Capital owns the “conservative” propaganda machine, Clear Channel.

This is revealed by a quick look at Romney’s top contributors. An Open Secrets page on top Romney contributors reads like a Who’s Who of Wall Street and the financial cartel. The top contributor is Goldman Sachs, followed by Credit Suisse Group, Morgan Stanley, Bank of America, JP Morgan Chase, UBS, Citigroup, Wells Fargo and Barclays – major players in the Wall Street and City of London bankster constellation.

Bain Capital is also on the list. It is a “financial services” and investment firm co-founded by Romney. Bain owns the establishment media propaganda conglomerate Clear Channel, which explains why “conservative” talk show hosts like Limbaugh, Hannity and Levin are supporting Romney, especially with the strong showing of Ron Paul in the primaries. Both Savage (real name Weiner) and Levin have gone so far as to call Paul a threat to the country.

In December, Mitt refused to release the identity of his “bundlers,” or people who gather contributions from many individuals in an organization or community and give the cash to the campaign.

In other words, the above list is only the tip of the iceberg. Romney’s lack of transparency about his bundlers indicates he is getting money from sources that want their identity concealed. Continue reading →