Ireland: Jim Corr Stands Up to the Bankers Who are Controlling the Production of Money and the Fate of Countries (“Message to the People of Ireland”…and Beyond)

~~InsightAnalytical-GRL

We’ve written about currency wars, the demise of the U.S. dollar , Goldman Sachs, etc. over the past year  (see March 2009 for several pieces on China, plans to dump the dollar, etc.).

But this video says it all.  It’s a passionate plea for people to WAKE UP and recognize what is happening in Europe and what is going to befall the U.S.  We have been handed over to the big bankers and are more concerned about watching a lot of reality TV shows and dancing fools, rather than paying attention as our economic security goes down the drain.

The brutal truth is that the the same bunch (IMF, World Bank) that has impoverished many developing countries with their “loans” and harsh demands has its sights on Europe. Iceland was the first to suffer.  Ireland is now losing its sovereignty.  Portugal? SPAIN??  Then what??

And all  meant to pad the pockets of the elite with the hard-earned money of the little people and for them to garner complete control over our lives…. It’s not just about Ireland, it’s about US, too!

Nobody voted for these people…as Corr says, this is about the privatization of money…our money…it is about theft.

He warns about many things….listen, if you have been fearing about “crackdowns.”

Visit Jim Corr’s website for more info on the current sad state of affairs…which goes beyond Irish shores.

http://www.jimcorr.com/

Did Drug Money Save the Banks??

~~By InsightAnalytical-GRL

As if things couldn’t get even MORE bizarre…

The Guardian/Observer is reporting that the UN’s Office on Drugs and Crime suspects that “$352bn in criminal proceeds was effectively laundered by financial institutions” during the 2008 banking crisis:

Drug money saved banks in global crisis, claims UN advisor

snip

Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were “the only liquid investment capital” available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result.

This will raise questions about crime’s influence on the economic system at times of crisis. It will also prompt further examination of the banking sector as world leaders, including Barack Obama and Gordon Brown, call for new International Monetary Fund regulations. Speaking from his office in Vienna, Costa said evidence that illegal money was being absorbed into the financial system was first drawn to his attention by intelligence agencies and prosecutors around 18 months ago. “In many instances, the money from drugs was the only liquid investment capital. In the second half of 2008, liquidity was the banking system’s main problem and hence liquid capital became an important factor,” he said.

Some of the evidence put before his office indicated that gang money was used to save some banks from collapse when lending seized up, he said.

Apparently, evidence of the drug money going to banks has come from officials in Britain, Switzerland, Italy and the US.

The British Bankers’ Association wants to see the evidence and maintains that central banks provided the liquidity to keep the system afloat.

It will be interesting to see if Costa’s suspicions get any attention here in the U.S.

Imagine, “money laundering”  to save the economic system…

Who pays back THOSE “loans”??

The Past Week: March 22-28, 2009 (A Split in Russian Political Forces as Putin Weakens; The Voice of Korea, North Korean Propaganda Outlet; G-20 Protests Begin; A Prescient Wish for a Bush Successor ca. 2006; X-Rated Google Earth)

~~By InsightAnalytical-GRL

We spent some time last week discussing pronouncements by China and Russia re: the dollar.  But here’s some information on what’s going on in Russian politics.

Apparently, the Russian political system is being strained by the current global economic crisis.  The split between military/security officials versus the economic political liberals is beginning to surface. Vladimir Putin was supposed to be the link between the two factions, but his influence as Prime Minister is apparently weakening:

From The Guardian archives (March 3):

Putin and Medvedev factions locked in Kremlin financial power struggle

• Evaporation of wealth eroding PM’s authority
• Security and economic cliques on collision course

SNIP

The sudden evaporation of Russia’s newfound wealth has set the two Kremlin cliques on a collision course and put Putin – now prime minister – in an awkward position. As a former KGB agent he is heavily identified with the security group, known as the siloviki, but he also has strong personal loyalty to a small clique of liberals from his home town of St Petersburg.

Experts say Putin is losing status as he attempts to contain conflict between the factions. Cracks are appearing in his relationship with Medvedev.

“Putin used to act as an arbiter standing above the two main clans – the siloviki and the rational economists,” said Dmitry Oreshkin, a leading political analyst. “Now he’s been dragged down into the fight and he’s under fire from both sides. The siloviki say he’s a weakling incapable of imposing his will and showing the economists their place, while the economists in turn are consolidating around Medvedev.”

Medvedev, handpicked by Putin from among loyal acolytes as a successor, has begun to issue muffled criticism of his mentor, leading some to believe that he may be enjoying the trappings of power and be prepared to flex his political muscle.

MORE

Who will win?

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With North Korea moving rockets around for a test of a suspected long-range ballistic missile sometime between April 4-8, Japan is ready to launch interceptors:

Japan Readies Missile Interceptors

By HIROKO TABUCHI

Published: March 27, 2009

TOKYO — Japan authorized its military on Friday to destroy any debris from a North Korean rocket that might fall on its territory. North Korea has said it intends to put a satellite into orbit as early as next week, and warned that fragments could fall into waters off northern Japan.

Japan, South Korea and the United States suspect the launching is a cover for a test of an intercontinental ballistic missile, the Taepodong-2. In response, Japan will deploy missile interceptors and dispatch two warships to the waters between it and the Korean Peninsula, said the Japanese defense minister, Yasukazu Hamada.

A battery of Patriot land-to-air missiles will also be deployed in Tokyo, he said. “Whether it’s a satellite or a missile, we are extremely uncomfortable with the object flying over Japanese territory,” Mr. Hamada said.

MORE

With the tensions between North Korea back in the headlines, I’m reminded of what it’s like listening to the Voice of Korea, which beams into North American for an hour every day via  shortwave radio.  If you want to listen to what the last Stalinist state sounds like on the radio and don’t have shortwave receiver, here’s a recording off the radio that will give you a sampling of N. Korean propaganda from Pyongyang  (from June 23,2008).  After the sign on, you can fast foward through the martial music and listen to the news and glorification of the “immortal exploits” of Kim Jong II as well as cultural segments… The site also has audio of such inspiring songs as “I Will Be a Solidier of Marshall Kim Jong II”.

Voice of Korea may sound over-the-top,  but, having experienced the glorification of Barack Obama by the media and the glossing over of the news here in the U.S. and the actions of Obama and his sycophants, it makes me wonder if things we’re hearing here are that much different than the propaganda pouring out of North Korea!   (More at the home page of English Radio from North Korea ).

And here’s some fascinating background on other North Korean broadcasts–coded “Numbers Broadcasts” to agents.  You can listen to some of them at the site using Real Player.

***

In 2006, Antonia Juhasz published* a book entitled “The Bush Agenda: Invading the World, One Economy at a Time.”  It went beyond the Bush Adminstration, however, as it traced the history of U.S. corporations in the growth of globalization and detailed the role of the International Monetary Fund (IMF), the World Bank, and the World Trade Organization.

I happened to pick up the book again in light of recent events and couldn’t help being struck by the opening paragraph of the book’s jacket description…especialy the last sentence.

In this important book, renowned international trade and finance policy expert  Antonia Juhasz exposes a radical corporate globalization agenda more befitting of a ruthless empire than a world leader in democracy.  This agenda has been refined by leading members and allies of the Bush Administration over decades and has reached its most aggressive implementation under George W. Bush. And Bush Agenda adherents hope it will outlast him.

Reading that last sentence has simply reinforced my suspicions about WHY we had Barack Obama shoved down our throats…

By the way, G-20 protests have already begun…

Thousands join London G-20 protest

***

Finally, on a lighter note,we see a kid in the  UK who decided to get Google Earth’s attention.  While many of us try to avoid Google at all costs, this guy decided to use it to full advantage:

Teenager’s 60ft painting of penis on parents’ roof spotted in space

When ancient Britons drew male genitalia on chalk hillsides, little did they know people would ape their customs millennia later…

SNIP

Teenager Rory McInnes painted a giant phallus on the roof of his parents’ West Berkshire mansion, apparently after watching a programme about Google Earth.

The BBC delicately describes it as a “comedy painting”, saying it was there for a whole year before his parents found out.

MORE

And this isn’t the first try at this, either. I must say, it’s a find rendition. Go take a peek for yourself…

***

THE PAST WEEK

*By Kenosha Marge

Saturday Sanity: The Antidote to the Madness (March 28, 2009) First Hummingbird and First Cactus Flower!; Wisconsin Robin; Happy Birthday, TORO the Dog!; Trooper Shows Off)

Russia-China Proposals; “Rebalancing” Global Currency Reserves: Why the U.S. Can’t Take Anything for Granted Re: the Dollar

EXPOSED! ACORN Behind Protests at AIG Homes, Under S.E.I.U. Rent-a-Mob Contract

A Reminder: Live Streaming of the First “Bernard L. Schwartz Economic Policy Symposium” Today (3/26) With a Rather Interesting Group & Agenda (To End “Fumbling” on Economic Policy)

The Scanner-Politics: March 25, 2009 (G-20; Glenn Beck’s “The One Thing” Segment on the Dollar [Video]; “The Big Takeover”; Al Gore Releasing New Book on Election Day 11/3/2009; Augie the Dog Sends a Deposit to the U.S. Treasury)

The Scanner–International Edition, March 24, 2009: Say Goodbye to the Dollar? China, Russia Proposing a New World Currency for “Non-Credit” Based Economies, Echo G-20 Agenda of Expanding IMF; China Will “Consider” Buying IMF Bonds; 10th China Develpment Forum Underway (UPDATE 1X–Geithner Supports China Proposal??)

*When is Being “Reasonable” Simply “Unreasonable”? (Especially When It Comes to Our Money?)

The Past Week: March 15-21, 2009 (Home Gardens on Alert?; “Practical” Democrats Group; Federal Education Stimulus $$ Going to Rich Schools; Soldiers Pledge to Refuse Illegal Orders; New Marxist President of El Salvador Compares His Message of Change to Obama’s)

***

*Publishing information:

Juhasz, Antonia. The Bush Agenda: Invading One Economy at a Time.  2006, HarperCollins (Regan Books), New York.

(yes, THAT Judith Regan)

The Scanner–International Edition, March 24, 2009: Say Goodbye to the Dollar? China, Russia Proposing a New World Currency for “Non-Credit” Based Economies, Echo G-20 Agenda of Expanding IMF; China Will “Consider” Buying IMF Bonds; 10th China Develpment Forum Underway (UPDATE 1X–Geithner Supports China Proposal??)

~~By InsightAnalytical-GRL

Scroll down for UPDATE

Hu Jintao--Who's in Charge Here?--Barack Obama (Photo courtesy Xinhua via CRIEnglish.com)

Late last week I came across this release from Itar-Tass.  In case you can’t place the name, the IT website tells us that this agency is:

The successor to the Soviet TASS news agency, it was re-named in 1992, when Russia proclaimed its sovereignty following the collapse of the USSR. It has retained its status of being the state central information agency.

Needless to say, when Russia’s “state central information agency” talks, I listen. I held the story up and coincidentally, found something that should grab us all.  First, the story from Russia:

Russia proposes creation of global super-reserve currency

16.03.2009, 15.15

MOSCOW, March 16 (Itar-Tass) — Russia suggests the G20 summit in London in April should start establishing a system of managing the process of globalization and consider the possibility of creating a supra-national reserve currency or a “super-reserve currency.” The Russian Federation’s proposals for ways out of the ongoing financial and economic crisis and for a post-crisis order of the world financial system have been published on the Kremlin’s website. The proposals have been dispatched to the leadership of the G20 countries, the CIS and international organizations.

(SNIP)

The Russian side believes the summit should seek and achieve accord on the main parameters of a new world financial system. It suggests calling an international conference that would produce the basic parameters of a world financial architecture and adopt international conventions regarding a new financial world order.

Russia believes that the “obsolete mono-polar structure of the world economy should give way to a system based on cooperation by several major centers.”

In the sphere of control and supervision Russia suggests drafting and adopting an international agreement setting global standards of control and supervision in the financial sector – a Standard Universal Regulatory Framework (SURF).

Russia calls for reforming the international currency and financial system with the aim to strengthen its stability and control. In that connection the Russian side suggests discussing the possibility of expanding the list of currencies to be used as reserve ones, on the basis of the adoption of agreed measures to stimulate the development of major regional financial centers, and also “the creation of a supra-national reserve currency that will be issued by international financial institutions.”

“It looks expedient to reconsider the role of the IMF in that process and also to determine the possibility and need for taking measures that would allow for the SDRs (Special Drawing Rights) to become a super-reserve currency recognized by the world community,” the document says.

MORE

The release goes on to discuss for a new mandate and more resources for the IMF.

Well, now add this piece, posted by Logistics Monster yesterday in a post entitled Quick Note About New Global Currency! Pay Attention!

The post quotes an article from the Financial Times‘ Asia-Pacific section (excerpt):

China calls for new reserve currency

By Jamil Anderlini in Beijing

Published: March 23 2009 12:16 | Last updated: March 23 2009 23:24

In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.

I suggest readers get over to Logistics Monster for the full quote from the article, which details the “special drawing rights” that we see mentioned in the Russian Itar-Tass release.

The Russia-China discussions apparently are just megaphones for what’s up at the Official G-20 website (excerpt):

The financial markets and the world economy continue to face serious global challenges and the severity of the crisis and ongoing uncertainties demonstrate the need for urgent action. During the United Kingdoms Chair, the immediate priority will be to gain further agreements for a concerted, co-ordinated international response.

The G-20 will need to send a strong signal that it is prepared to take whatever further actions are necessary to stabilise the financial system and to provide further macroeconomic support. At the same time, the G-20 must commit to maintaining open trade and investment, to avoid a retreat to protectionism, and direct necessary additional support to emerging markets and developing countries.

The G-20 should also lay the foundations to move beyond the crisis to a sustainable recovery. In 2009, it will be important to understand the roots of the international financial crisis and identify the lessons that we can learn to ensure that a crisis of this kind does not happen again. The G-20 should develop proposals that will restore global growth in the medium term, including the unwinding of emergency measures taken in response to the crisis.

Coincidentally, with the proposal to bolster the mandate of the IMF, we see this article from the Chinese news agency,
Xinhuanet/China View:

Central bank official: China “will actively consider” buying IMF bonds

www.chinaview.cn Special Report: Global Financial Crisis

BEIJING, March 23 (Xinhua) — China’s central bank said Monday it will “actively consider” buying bonds issued by the International Monetary Fund (IMF).

Hu Xiaolian, vice governor of the People’s Bank of China (PBOC), made the comment during a briefing about President Hu Jintao’s coming visit to the G20 financial summit in Britain, scheduled for April 1 to 2.

“China supports the IMF’s innovative financing attempts, and a more efficient and timely financing mode can effectively ease the IMF’s cash shortage,” said the PBOC’s Hu.

“If the IMF finances itself by issuing bonds, China will actively consider buying” those bonds, Hu stressed.

Of course, the Chinese have already indicated that they are “worried” about U.S. Treasury bonds and a recent China Daily headline reads:  “Allure of US Treasuries Set to Fade”…

“Although China is unlikely to massively cut its existing holdings of US Treasuries, it will try to reduce purchases,” said Yu Yongding, president of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences.

The table is set.

I’m sure the G-20 will toast the dollar with fond reminiscences…

MEANWHILE, ahead of the G-20 meeting, China is now holding its 10th China Development Forum (excerpt):

Chinese premier: World should have faith in China

www.chinaview.cn

Special Report: China Development Forum 2009Special Report: Global Financial Crisis

China has launched plans to expand domestic consumption and promote economic growth. It will try its best to achieve the goal of eight-percent economic growth set for this year, according to Wen.

With timely efforts, the economy in some areas and industries in China is now witnessing better signs, Wen said.

“China can’t achieve self-development without rest of the world,” the Premier said, adding that China hopes to deliver confidence to the world and the world should have faith in the country.

SNIP

High-level officials, entrepreneurs, scholars and leaders from international and non-governmental organizations attended this year’s forum with the theme of China’s Development and Reform in the Global Financial Turmoil.

Remember the days when other countries sought “closer ties” to the U.S.? Well, Obama wants a “closer relationship” with China.

When these two meet at the G-20 session, who will be setting the pace?

And lest we forget Putin: he’s doing some saber-rattling…

Russian PM Putin Threatens to Review Relations with EU

SOCHI, March 23 (RIA Novosti) – Russia will start reviewing its relations with the European Union should Moscow’s interests be ignored, Prime Minister Vladimir Putin said on Monday.

SNIP

Russia had been effectively excluded from talks at an international investment conference in Brussels on the modernization of the Ukrainian gas pipeline network, adding that the conference, convened by the European Commission, was limited to discussions between Ukraine and the EU.

“If Russia’s interests are ignored, we will also have to start reviewing the fundamentals of our relations,” Putin said. “We would very much like for things not to reach this point.”

Interesting times, indeed…frightening times.

***

UPDATE March 26, 2009

EXCERPT:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aAHStUZFitk8&refer=home

Treasuries Fall on Supply Concern as Seven-Year Sale Looms

By Dakin Campbell and Susanne Walker

March 25 (Bloomberg) —

snip

‘Poor Communication’

The Fed joins central banks in the U.K. and Japan in extraordinary purchases of government debt. U.S. policy makers announced the decision last week to buy $300 billion of government debt in the next six months along with a plan to more than double purchases of housing debt to $1.45 trillion, hoping to reduce rates on home loans.

The dollar fell the most in almost a week against the euro on concern Treasury Secretary Timothy Geithner supported a Chinese plan to blunt demand among global central banks for the U.S. currency. The dollar weakened as much as 1.2 percent to $1.3651 per euro, the biggest intraday decline since March 19, before trading at $1.3601 at 4:20 p.m. in New York.

Geithner later affirmed the dollar’s role as the world’s reserve currency.

“The poor communication from the Treasury department has complicated the market for Treasuries,” said Baker Group’s Caughron.

More

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ADDITIONAL INFORMATION

China Optimistic about Hu-Obama London Meeting (CRIEnglish.com report 3/23/09)

Official G-20 website

International Monetary Fund (IMF) website

CIS: Overview (from the Commonwealth of Independent States)

THE CIS –Executive Committee website

CIS Wikipedia article