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Obama and the Global Credit Crisis

Politics / Credit Crisis 2008 Dec 09, 2008 - 09:17 AM GMT

By: Richard_C_Cook

Politics Best Financial Markets Analysis ArticleEven as preparations are underway for Barack Obama to assume office as the 44th president of the United States on January 20, the U.S. military juggernaut that is roaring toward global conquest hasn't missed a beat. This is shown by the team of hawks—including holdover Robert Gates at Defense and Hillary Clinton as Secretary of State—that Obama has assembled to handle the levers of the war machine and its diplomatic front.


WESTERN DRIVE TOWARD WORLD DOMINATION

The horrors of the George W. Bush administration may only have been one chapter, though it was the actions of Bush and his cronies—starting with 9/11— which removed all doubt that the intent of the Western ruling class is to dominate the world by any means possible.

Behind this intent are the people David Rockefeller famously identified at a 1991 meeting of the Bilderberg Group, when he said: “The supra-national sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.” No one needs conspiracy theories when the perpetrators are this blatant.

Rockefeller and his internationalist associates have not just made untold fortunes. They have also immeasurably damaged the nation our forefathers created and which offered them the freedom to become rich and powerful. Ironically, it was John D. Rockefeller, Jr., who restored the Virginia colonial capital in Williamsburg where on May 15, 1776 the Virginia Convention instructed their delegates in Philadelphia to enter a motion for independence.

But 1776 was another era, when our ancestors really believed that “all men are created equal” and that “life, liberty, and the pursuit of happiness” were “inalienable rights.” Today, the globalist financiers are trying to shore up the world's failing financial institutions. But they are doing nothing to stem the slide into a worldwide depression that is starting to destroy the livelihoods of huge numbers of people.

MIS-DEFINITION OF CREDIT A ROOT CAUSE OF THE CRISIS


What this really means is that the financial controllers are robbing the world of the peace and prosperity that could be in reach through economic democracy and the fair distribution of resources. It would not be that difficult for us to engage in mindful cultivation of the Earth's bounty in order to provide a decent living for all.

It could be done by changing the way money is created--from the debt-based system where credit is introduced only through bank lending to grassroots systems of credit creation advocated by the monetary reform movement. This could be done if credit were treated as a public utility, like clean air, water, or electricity, not the private property of the financial elite. Two good examples of this movement are the ideas of Social Credit based on providing citizens' dividends similar to the Alaska Permanent Fund and the American Monetary Act of the American Monetary Institute that advocates direct payment by government for public expenditures as with the Civil War Greenbacks. .

It is the mis-definition of credit that allowed the banks to create the massive speculative bubbles in housing, commercial real estate, equity and hedge funds, commodities, and derivatives that have exploded. These bubbles can never be re-inflated, no matter how many trillions of dollars the government injects into the failed trickle-down system. The bubbles cannot be re-inflated because the public cannot afford to repay the loans they are ultimately based on. Consumer purchasing power is spiraling downward practically by the day as jobs disappear.

The banking system and the military machine work hand-in-hand, because the financial system is so unbalanced and exploitative that it can only be maintained through brutal force, both within and among nations.

LESSONS OF HISTORY

The mailed fist of Western military might is the embodiment of the drive toward global dominance that goes back at least to the 15th century. It was then that the emerging nations along the Atlantic coast of Europe—Spain, Portugal, France, the Netherlands, and England—began to send armed soldiers abroad on sailing ships bristling with cannon. The purpose? To conquer the territory and secure the wealth of older cultures which lacked the military means to defend themselves.

These swashbucklers were bolstered by two ingredients essential to any such large-scale undertaking. One was a source of money to finance the enterprise, and the other was an ideology that could be used to assuage the nagging of conscience which naturally arises whilst taking the lives and stealing the property of fellow human beings.

The first requirement—money—was initially met by looting the indigenous cultures of the Americas of their gold and silver, then using it to capitalize the fledgling banking system. Similar looting has continued until today.

Stops along the way included the British takeover of the fabled wealth of India, the plantations of America being worked by slaves dragged from Africa, the Chinese Opium Wars, and the Anglo-American conquest of the Middle East and its oil. Facilitating the mayhem was creation of the fractional reserve banking system overseen by the Bank of England, founded in 1694, and the Federal Reserve, which dates to 1913.

The second need was for an ethnocentric religion--Christianity--that justified the killing and enslavement of non-believers who in most cases had never even heard of it before. This was satisfactorily met by the Christian churches which adopted the geopolitical exigency that white men who worshiped at their altars were entitled to rule the Earth.

The nations so fortunate as to find themselves in the forefront of progress acquired the wherewithal to add to their wealth through an ideology based on exclusive ownership of the fruits of science and technology. As the Industrial Revolution developed, the only choice seemed to be control of the means of production either by the capitalist elite or the totalitarian state.

The white man's greed propelled them into countless wars of aggression around the globe along with two fratricidal wars—World Wars I and II. In these wars tens of millions of were slain. These calamities left standing the greatest white Western nation of all—the United States.

This was both just and natural, since it was the U.S. with its melting pot that blended denizens of all the warring European nations, including the Jews who arose from the Khazar region of Russia and, moving to the West, came to dominate high-finance.

The U.S. enjoyed the size, resource wealth, and geographic situation—North America being a natural fortress—to serve as headquarters for what is now the final assault on the regions still not entirely subdued—namely the giant mainland nations on the continent of Asia. Along the way, America's minority races, most notably its African-Americans, demanded and were granted at least a semblance of equal rights under the law. To their credit, many Jewish-Americans were instrumental in securing the victories of the civil rights movement.

THE SCENARIO FACING BARACK OBAMA

So Barack Obama was elected. Now president-elect, he has stepped into a scenario where the actors in the drama—the generals, arms merchants, and spies who do the dirty work—are poised for the final step in the scenario. This could go so far as instigating a Third World War to be launched against Russia and China. The military planners are preparing for it.

A flanking movement is going on in space through NASA's new manned lunar program aimed at setting up what could be a military base at the Moon's south pole. Russia and China, along with the European Space Agency and India, are competitors in the race to colonize the Moon and use it for military advantage.

This culminating phase of world disorder began in earnest with the Reagan military build-up in the 1980s and the “Reagan Doctrine” of proxy-wars against supposedly left-leaning nations, including the funding of Osama bin Laden's Islamic mujaheddin who fought against the Soviets in Afghanistan.

Reagan took the first steps toward weaponizing space through his Strategic Defense Initiative—“Star Wars”—program announced in 1983. This failed when the Air Force's test platform—the space shuttle—was grounded after the Challenger disaster of January 28, 1986. (Richard C. Cook, Challenger Revealed: An Insider's Account of How the Reagan Administration Caused the Greatest Tragedy of the Space Age)

In 1991 the Soviet Union broke apart, with George H. W. Bush taking advantage of the confusion by launching an attack on Iraq. But there was unfinished business in Europe. Yugoslavia was a Slavic nation with ties to Russia. Presto, during the Clinton administration the Serbs were identified as engaged in “ethnic-cleansing,” and through 38,000 bombing sorties by NATO over a 78-day period, the Balkans were re-Balkanized and the bankers who ran the European Union were able to move in for the takeover of that sorrow-filled region.

With the Balkan front secured, the military under George W. Bush next used the 9/11 attacks as an excuse to invade Afghanistan and—again—Iraq. Israel was along for the ride, though it is often difficult to tell which of the two—the U.S. or Israel—is the pilot and which the co-pilot.

By the end of the Bush administration, Obama, in his presidential campaign, was calling for escalation of the conflict in Afghanistan, possibly intended by the script writers as a flanking movement to cut off Russia from Iran. This appears to be the start of the final Western assault on South Asia. Pakistan in particular is now high on the list of U.S. targets, with Obama saying he will send in U.S. forces whenever warranted.

WILL THEY START WORLD WAR THREE?

The Muslims of Pakistan were once among the most highly cultured people on Earth. But the West never gave up on control of the Indian Subcontinent, even after independence. The British had adopted a divide-and-conquer strategy by supporting the 1946 partition between India and Pakistan, and Pakistan's aspirations were destroyed in the 1970s when the Western intelligence agencies attacked the great nationalist modernizer, Zulfikar Ali Bhutto. They did this by instigating a fundamentalist revolt, followed by a military coup by Pakistan's U.S.-backed generals.

Now, with the recent attacks on Mumbai by Islamic assailants and India refusing to relinquish Kashmir, Pakistan and India can be managed separately, even as India becomes more dependent on the U.S. for nuclear technology. Iran, which is being surrounded, will likely soon find that its number has finally come up.

It is unclear the extent to which South Asia can and will maintain its self-determination. But once the region is controlled, the war against Russia and China can start in earnest. However, a parallel attempt is being made to absorb Russia through rapprochement between it and the E.U. If this feint succeeds, the wealth of Siberia may fall into the hands of the Western bankers without a shot ever being fired, though the European financiers will enjoy a clear advantage in reaping the spoils over the Americans. Such an attempt to bring Russia under Western financial control took place in the 1990s but failed when Putin took over.

Today, military planners likely assume that China, the West's great bogeyman for the 21st century, will be backed into a corner. But the Chinese, who know that a strong economy sooner or later will translate into military power, grow stronger all the time. Of course the inscrutable Russians may have surprises up their sleeves. They may not be holding tight to all those nukes for nothing.

Some might object that the Western military planners, especially those within the U.S., are skating on thin ice due to the financial crisis. But the crisis has not stopped the war effort. It is funneling more of the wealth into the hands of the bankers than ever before, thereby enriching the ones who are in charge and providing them with increased material security from which to rule. U.S. military leaders have lobbied for budget increases, and Obama appears poised to accommodate them. Because investors are flocking to Treasury securities as a save haven from stock market losses, there is no shortage of borrowed money.

Granted, the financial crisis has reduced the income security of huge swaths of people both in the West and the developing nations and has put them ever deeper in debt. But the stressed population desperately needs jobs so will continue to provide cannon-fodder for the military and willing minds and hands to work in the defense factories and think tanks. Obama's plan to pump money into infrastructure spending may help, but even a $600 billion stimulus is only $2,000 per capita and will take time to show results. This too is a deficit spending program based on money borrowed through the banking system.

OBAMA'S DILEMMA

Is there any way Barack Obama can do anything substantive to resolve the crisis?. As Australian author Omna Last recently wrote on his website (www.omnadeLight.com) and gave permission to reprint:

“In 2008 Barak Obama appeared from the wings, front-stage in the midst of the American melodramatic psycho-drama. He was also half-Negro and half-white. A majority of Americans were so fed up with the rule of the white-man-machine, they were willing to vote in a half-black man as president. The question was: would he have the integrity and strength of character not to compromise his principles? Would he be able to break through the ruling white-man paradigm and start an American dialogue with the rest of the world, and leave behind its incredible blind arrogance that permeates right through the culture, resulting in a subconscious belief that America's manifest destiny is to be the arbiter of the world's tastes, immorality and non-values?

“And would he be able to take advantage of the wisdom and strength provided by his black genes to bring a new ruling hybrid dispensation to the world? Would he be the symbol for a new type of Earth person – a true planetary representative? Would the ruling white secret brotherhood allow him to use his presidential power?

“Or would they need to worry? As a senator, Obama voted to renew the Patriot Act, supported the death penalty, affirmed Bush's secret surveillance of the American people, and called for a cut in the corporate tax rate. He wanted to expand the war in Afghanistan, failed to call for a reduction in defense spending, and, as a tool of the Zionist lobby, was insisting that Iran even stop enriching uranium. Obama's selection of Rahm Emanuel as White House chief of staff is a signal that Obama is either incredibly naive or has been forced by his minders to play ball with the devil.

“Obama is probably an idealistic, courageous man, who persuaded a majority of Americans to believe in their own better natures. Obama's place at the pinnacle of official power lifts a veil that has obscured the world for a thousand years. It signifies the end of white supremacy, imperialism, racism. Every tribe and race of people, just as with each animal species, has something unique to add to the genetic and cultural brew of humanity. Although Obama was supported and promoted as a tool of the insider establishment, it may be that he will turn his back on the sleaze of his secret backers and try to institute a new paradigm. Perhaps Barack Obama is a symbol of a change in the wind, and the emergence of a new kind of man - an Earth man - one who encompasses many facets of the jeweled organism that is this planet.

“Zawahiri issued a tape declaring Obama to be a House Negro. Was Obama a naïve fool, who had been set up to sup with the devil? He is probably a good man, but naive and misguided, probably with more ambition than good sense. The chimera of power, of rubbing shoulders with the insiders of the money-power-tree had been the bait. Had the new brown fish been reeled in to shine as front-man for the men of the purveyors of an old wine in a new bottle? Was a bright new label to placed on the old bottle of American capitalism, a wine already turned sour in 1929 – but in 2008 turned quickly from unfettered free market capitalism to the secret cartel's intervention in every pie?

“An incredibly clever game had been played. As Russia in 1917 had been secretly taken over by a Jewish financier-backed conspiracy, so in 2009 the wheels that had been set in motion by Greenspan in 1987 had been geared up. The Zionization of America was no longer a banker's wet dream. It was now possible…people tracked by computer chip…the masses in permanent debt, desperate and afraid. Or would Obama prove to be a man of the quality of Jack Kennedy? Would he stand up to the amorphous establishment? Would he change their hearts and minds, just by the power of his convictions?”

WHAT THE CONTROLLERS LEAVE OUT

Good questions. Only time will tell. The only thing that seems to be left out in the conniving of the financial controllers and the plans they are calmly working out on their underground supercomputers is consideration of what really is the objectively conscionable way for us to behave as human beings on this planet.

Perhaps at the cellular level the controllers have the nagging suspicion that maybe there really is a God who is not entirely comfortable with a world civilization based on exploitation, pollution, and a mad compulsion to force society to engender enough “growth” to outrace the exponential increase of compound interest.

Perhaps the controllers fear that the billions of people on Earth who are not white Western males of Judeo-Christian extraction might also have a place in His/Her heart. Perhaps Obama, despite all the compromises he has made, makes them feel a little bit uncomfortable.

By Richard C. Cook
http:// www.richardccook.com

Copyright 2008 by Richard C. Cook

Richard C. Cook is a former U.S. federal government analyst, whose career included service with the U.S. Civil Service Commission, the Food and Drug Administration, the Carter White House, NASA, and the U.S. Treasury Department. His articles on economics, politics, and space policy have appeared on numerous websites. His new book, We Hold These Truths: The Hope of Monetary Reform , can now be ordered for $19.95 from www.tendrilpress.com . He is also the author of Challenger Revealed: An Insider's Account of How the Reagan Administration Caused the Greatest Tragedy of the Space Age , called by one reviewer, “the most important spaceflight book of the last twenty years . ” His Challenger website is at www.richardccook.com . A new economics website at www.RealSustainableLiving.com is upcoming with partner/author Susan Boskey.

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