Abby Martin speaks with John Perkins, best-selling author of ‘Confessions of an Economic Hitman’ & ‘Hoodwinked’, about the corporate takeover of world governments and the need to eradicate the death economy.
Tag Archives | IMF
… Read the restIn an August 2013 article titled “ Larry Summers and the Secret ‘End-game’ Memo,” Greg Palast posted evidence of a secret late-1990s plan devised by Wall Street and U.S. Treasury officials to open banking to the lucrative derivatives business. To pull this off required the relaxation of banking regulations not just in the US but globally. The vehicle to be used was the Financial Services Agreement of the World Trade Organization.The “end-game” would require not just coercing support among WTO members but taking down those countries refusing to join. Some key countries remained holdouts from the WTO, including Iraq, Libya, Iran and Syria. In these Islamic countries, banks are largely state-owned; and “usury” – charging rent for the “use” of money – is viewed as a sin, if not a crime. That puts them at odds with the Western model of rent extraction by private middlemen.
If there’s one thing the British government and its media mouthpieces can rely on it’s a general public who are quite happy to spread their propaganda for them – not since the riots of 2011 have I witnessed such a degree of slavish, unthinking repetition of falsehoods and lies as can be seen on forums and social media networks in response to the recent wave of cuts to the welfare system. This feeling of despair at the gullibility of the general public was compounded by the response by many to the death of former prime minister Margaret Thatcher; the gushing eulogies and beautification of a woman who supported brutal dictators such as Pol Pot and Idonesia’s General Suharto, while decimating British industry. It’s as if people have lost the ability to think for themselves, finding comfort in a patently false narrative which blames the victims of savage austerity while simultaneously ignoring or excusing the crimes of the rich and powerful.… Read the rest
The changes that are taking place on the global political landscape are unprecedented. Our recent economic crisis has allowed us to lift the veil on financial institutions revealing their vile business practices that have allowed them to control our governments.
Below you will find three recent significant events that are acting as catalysts to accelerate the inevitable restructuring of the way we do business:
1) Sending a Message for Backpedaling on Settlements: “Earlier this year, John Peace, the chairman of Standard Chartered’s board, spoke at a news conference announcing the bank’s quarterly earnings. He was asked whether any employees would be held responsible for violations of United States laws restricting financial dealings with Iran and other countries that led to settlements with federal and state authorities costing the bank about $667 million. He responded, ‘We had no willful act to avoid sanctions; you know, mistakes are made — clerical errors — and we talked about last year a number of transactions which clearly were clerical errors or mistakes that were made.’
“There is just one big problem with attributing violations to mere ‘clerical errors.’ The deferred prosecution agreement with the Justice Department specifically provides that no one at Standard Chartered can make ‘any public statement contradicting the acceptance of responsibility’ in the settlement.… Read the rest
David E. Sanger and John Markoff write in the NY Times:
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WASHINGTON — The International Monetary Fund, still struggling to find a new leader after the arrest of its managing director last month in New York, was hit recently by what computer experts describe as a large and sophisticated cyberattack whose dimensions are still unknown.
The fund, which manages financial crises around the world and is the repository of highly confidential information about the fiscal condition of many nations, told its staff and its board of directors about the attack on Wednesday. But it did not make a public announcement.
Several senior officials with knowledge of the attack said it was both sophisticated and serious. “This was a very major breach,” said one official, who said that it had occurred over the last several months, even before Dominique Strauss-Kahn, the French politician who ran the fund, was arrested on charges of sexually assaulting a chamber maid in a New York hotel.
Here’s a story that illustrates the chasm between how France and America handle men, women and rape. The French elite are outraged over what they see as American vulgarities surrounding the treatment of Dominique Strauss-Kahn, the former IMF chief and putative 2012 presidential frontrunner, accused of raping a 32-year-old Sofitel chambermaid in Manhattan last weekend. Among the "barbaric" American practices under critique by Parisians: showing photos of the accused in handcuffs; marching him through a scrum of photographers on the way to court; and pillorying him tabloid style — the NY Post called him "a horny toad,” for example. As GlobalPost has reported, French law restricts some media coverage of alleged perpetrators prior to conviction, including publication of images showing the accused in handcuffs, to preserve the dignity of the innocent.
NEW YORK— The leader of the International Monetary Fund, Dominique Strauss-Kahn, was arrested on Saturday, minutes before he was to fly to Paris from John F. Kennedy International Airport, The New York Times reported. Strauss-Kahn, a candidate for president of France, was taken off an Air France flight by officers from the Port Authority of New York and New Jersey and turned over to Manhattan detectives, a Port Authority spokesman told the Times. He was accused of a sodomizing a maid at a Times Square hotel earlier in the day, the authorities said. He has not been charged but was being questioned, police said. Strauss-Kahn, 62, allegedly crept up behind a maid after she entered his room and forced her to perform oral sex on him, sources told the New York Daily News. The New York Post said he was naked and had emerged from the bathroom.
China will become the world’s number one economy — and therefore most powerful nation — by 2016. Brett Arends provides some analysis at Marketwatch:
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The International Monetary Fund has just dropped a bombshell, and nobody noticed.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
And it’s a lot closer than you may think.
According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
Put that in your calendar.
It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S.
Tyler Durden writes on Zero Hedge:
There is a new threat to the international monetary system which means Europe May 2010 redux is imminent. US taxpayers: our condolences.
Back in April 2010, before Waddell and Reed sold a few shares of ES, effectively destroying the market on news that Europe was insolvent, we made the following observation: “The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion.” Little did we know that our conclusion “something big must be coming” would prove spot on just a month later after Greece, then Ireland, then Portugal, and soon Spain, Italy, Belgium, and pretty much all other European countries would topple like dominoes tethered together by a flawed monetary regime. Well, based on news from Dow Jones we can now safely predict the following: “something bigger must be coming.”…
By Kumaran Ira for the World Socialist Web Site:
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The decision by French media and political circles to promote the International Monetary Fund managing director and leading Parti Socialiste(PS) member Dominique Strauss-Kahn as a potential presidential candidate is a stark warning to the working class. Though presented as a “left” party to the public, the PS supports the IMF’s anti-working class policies, such as the cuts carried out by Greek Prime Minister George Papandreou.
Strauss-Kahn is seen as a major potential contender against the incumbent, conservative President Nicolas Sarkozy in the 2012 presidential election. He has given prominent interviews on television and in the print media. An Ipsos-Le Point poll published on May 25 found that 76 percent of right-wing voters and 66 percent of Socialist Party voters back Strauss-Kahn for the presidency. The nomination of the PS candidate for the presidential elections will be decided at a PS-organized primary election to be held in 2011.