Bankers, Government Austerity: Seizure of public Property for Corporations

by Wayne Madsen
Wayne Madsen Report
June 15, 2011

What lies in store for Greece, Portugal, Spain, Ireland, Italy, and, in short order, the United States, is the wholesale sell-off of public property to private corporations at bargain basement prices. What the despots who gather in their secretive lairs at Davos, Cernobbio, Bilderberg, and G8/G20 are bringing about is a world where no property is owned by the state, which by default means the people. Total corporate control over every facet of life equals extreme fascism.

What is occurring in Greece is a bellwether for what will befall other nations in Europe, as well as the United States, if the bankers get their way. And in Greece, the people know how generations of investments by the taxpayers are being turned over to vampire capitalists who have the full backing of the International Monetary Fund, European Commission, and the European Central Bank.

The European and global bankers have demanded that the Greek government sell off entirely or assume a minority stake in a number of state enterprises and utilities.

For example, this year global capitalists are slated to acquire 84 percent of OTE, the Greek telecommunications provider. In addition, private bankers will assume 66 percent ownership of the Greek Postal Savings Bank; 51 percent of the National Lottery; 60 percent of the Salonika Water Authority; 68 percent of DEPA, the natural gas utility; and 25 percent ownership of the ports of Piraeus and Salonika.

Next year, the capitalist grab for public property increases in intensity with Athens International Airport coming under 79 percent private ownership. The global capitalists will also obtain 100 percent ownership of the Egniata toll motorway; 60 percent of Hellenic Post; 66 percent of OPAP, the state-run video-lotto and online sports betting firm; 73 percent of the Athens Water Authority; 83 percent of DEI, the Greek Electric Authority; and 51 percent of the Greek Regional Airports Authority.

The Greek Communist Party has vowed to fight against the acquisition of public property by the private sector. In fact, it is the Communist parties of Europe that have been the most vocal against the power grab by the bankers but their opposition to the privatization moves receives very little attention by the corporate-controlled media.

Massive sell-off lists of public property are now being drawn up by the governments of Portugal, Spain, Italy, and Ireland. In the United States, there are calls for the privatization of the US Postal Service, Social Security, and Medicare.

One Libyan government official this reporter spoke to in Tripoli, during an intensive NATO bombing assault, opined that the same fate is in store for the Libyan Socialist Jamahiriyah. With the highest standard of living in Africa, Libyans could witness the U.S.- and NATO-backed rebel government begin to sell off Libyan government assets to global capitalists. The Libyan official said, “These people [global bankers] would sell the air if they could get away with it.”

G20 Nations Slam Quantitative Easing

Emerging nations also take measures to avoid currency valuation against the purposely concocted fall of the dollar.

Reuters

U.S. President Barack Obama defended the Federal Reserve’s policy of printing dollars on Monday after China and Russia stepped up criticism ahead of this week’s Group of 20 meeting.

The G20 summit has been pitched as a chance for leaders of the countries that account for 85 percent of world output to prevent a currency row escalating into a rush to protectionism that could imperil the global recovery.

But there is little sign of consensus.

The summit has been overshadowed by disagreements over the U.S. Federal Reserve’s quantitative easing (QE) policy under which it will print money to buy $600 billion of government bonds, a move that could depress the dollar and cause a potentially destabilising flow of money into emerging economies.

“I will say that the Fed’s mandate, my mandate, is to grow our economy. And that’s not just good for the United States, that’s good for the world as a whole,” Obama said during a trip to India.

“And the worst thing that could happen to the world economy, not just ours, is if we end up being stuck with no growth or very limited growth,” he said.

European Central Bank President Jean-Claude Trichet said all participants at a meeting of the world’s central bankers in Basel, Switzerland had insisted they were not pursuing weak currency policies.

“We’re attached to avoiding excessive volatility. It’s very counterproductive for global growth and global stability,” he told a news conference.

Washington has frequently criticised China, saying it deliberately undervalues its currency to boost exports.

China says the United States, via the Fed, is engaged in the same thing that it stands accused of, and some emerging nations have already acted to curb their currencies’ rise.

Resentment abroad stems from worry that Fed pump-priming will hasten the U.S. dollar’s slide and cause their currencies to shoot up in value, setting the stage for asset bubbles and making a future burst of inflation more likely.

“As a major reserve currency issuer, for the United States to launch a second round of quantitative easing at this time, we feel that it did not recognise its responsibility to stabilise global markets and did not think about the impact of excessive liquidity on emerging markets,”  Chinese Finance Vice Minister Zhu Guangyao said on Monday.

The Fed’s quantitative easing policy was unveiled last week to jeers from emerging market powerhouses from Latin America to Asia. Russia renewed its assault on Monday.

“Russia’s president will insist …. that such actions are taken with preliminary consultations with other members of the global economy,” said Arkady Dvorkovich, a Russian official who is preparing the country’s position in Seoul.

Bank of Japan Deputy Governor Hirohide Yamaguchi said on Monday that it too was ready to boost its asset-buying scheme if it saw clear signs of a downturn. Worth 5 trillion yen ($62 billion), it is so far just a tenth the size of the Fed’s.

U.S. DROPS KEY DEMAND

India is Obama’s first stop in a 10-day trip to Asia that will include Indonesia and Japan.

He will arrive in Seoul for the Nov. 11-12 summit weakened by a crushing congressional election defeat for his Democratic Party and under fire from all sides. Germany described U.S. economic policy as “clueless” last week.

The U.S. has already all but dropped its centrepiece proposal for the G20 — a measure that would cap current account balances at 4 percent of gross domestic product, something economists said was clearly aimed at China.

At the weekend, U.S. Treasury Secretary Timothy Geithner backed away from the numerical target that had been rejected by China, Germany, Japan and others in a sign that global financial power had slipped from U.S. hands.

On Monday, he was putting on a brave face, saying China was supportive of the G20’s framework for rebalancing the global economy, and that he expected broad consensus on it at the summit.

The risk of a negative outcome in Seoul appears to be increasing, or at the very least, an agreement that merely papers over the huge gaps and allows countries to pursue their own economic policies whether it be intervening in currency markets like South Korea and Japan or printing dollars.

“Judging by the critical response of emerging market governments to QE, the likelihood of a ceasefire in the currency war is slim,” RBC Capital markets said in a report published on Monday.

Germany Accuses US of Indirectly Manipulating Dollar

Reuters

German Economy Minister Rainer Bruederle on Saturday took issue with what he called a U.S. policy of increasing liquidity, saying it indirectly manipulated exchange rates.

The U.S. Federal Reserve is widely expected to embark on a fresh round of asset purchases to prop up the economy.

“There was criticism of the American policy of monetary easing, or creating more liquidity,” Bruederle said after a meeting in South Korea of finance officials from the Group of 20 economic powers.

“I tried to make clear in my contribution to the discussion that I regard that as the wrong way to go,” he said.

“An excessive, permanent increase in money is, in my view, an indirect manipulation of the (foreign exchange) rate.”

Foreign exchange rates should be determined by markets, said Bruederle, who was attending the G20 meeting in place of Germany’s hospitalised finance minister.

Bruederle said he was positively surprised by the results of the meeting, which he said surpassed expectations.

There were intensive discussions at the meeting about a letter from the U.S. Treasury Secretary calling for action in tackling foreign exchange and trade imbalances, Bruederle said.

Geithner’s focus was on China, but Germany, Japan and Korea were also in focus, Bruederle said, adding that he regarded the U.S. plans as having “planned economy elements.”

Bundesbank President Axel Weber, who is also a member of the European Central Bank’s Governing Council, said regulators were in the final stages of bank regulatory reform and it was now up to lawmakers to implement the new rules soon.

Solutions were still needed for dealing with system-relevant banks, Weber said, adding that these should include an orderly insolvency mechanism.

The Financial Stability Board (FSB) should make proposals for dealing with such system-relevant banks by next summer at the latest, Weber added.

G20: Os bancos devem manter o dinheiro para a crise que virá

O Sindicato do Crime Internacional, melhor conhecido como o G20, determinou na sua última reunião que o colapso e a consolidação da economia global começará por volta de 2012 e terminará em 2016 com a liquidação de todos os países que estejam em dívida com o FMI e o Banco Mundial.

Por Luis Miranda
The Real Agenda
Junho 29, 2010

Banqueiros e membros do G20 têm formas diretas e indiretas para falar com o público. No final da última reunião do G20 em

G10? Dez dos vinte representantes dos países industrializados dão uma caminhada entre reuniões.

Toronto, ambos os grupos falaram muito claramente sobre o que eles têm em mente para o futuro. Primeiro, eles estão interessados somente em ajudar o processo de consolidação global. Em segundo lugar, eles vão estender a depressão atual lentamente cortando o dinheiro disponível para empréstimos. Em terceiro lugar, eles vão continuar seus programas de austeridade nos países para matar lentamente as suas economias e consolidar cada um deles. Em quarto lugar, agora que eles roubaram os impostos do povo através dos seus pacotes de resgate, eles planejam roubar os acionistas, colocando o ónus do próximo resgate nas costas dos investidores. Em quinto lugar, hipócrita e irresponsavelmente, pensam que poupando 130 bilhoes de libras criarão uma garantia para a economia, dado que apenas a dívida do esquema de derivativos se conta nos quatrilhões de dólares. E, por último, eles pretendem cimentar a implosão final que, de acordo com seu comunicado, pode vir a partir de 2012.

Se tudo isto parece confuso, por favor, deixe-me explicar.

Vamos começar por lembrar que os G20 e, principalmente, os G8 foram os que causaram a atual crise financeira. Eles fizeram isso através de suas empresas de fachada, por exemplo, os bancos que implementaram uma série de esquemas de corrupção e falência das economias de países inteiros, através do investimento de risco e, às vezes, de produtos financeiros inexistentes. Estes esquemas foram executados depois de duas décadas onde a maioria das regras postas em prática para impedir fraudes financeiras foram eliminadas como uma desculpa para melhorar o “mercado livre”. O que a desregulamentação permitiu foi a criação de planos de investimento falsos que os bancos ofereceram mais tarde para países, estados e municípios, muitas vezes através dos governos e os usaram para adquirir todas as suas infra-estruturas e dinheiro através da emissão de dívida ou de investimentos.

Tornou-se claro que o G8 e os banqueiros não estão interessados em melhorar as atuais condições económicas. Eles simplesmente querem estender a crise, enquanto eles precisam, a fim de executar seu plano final de implosão global. Isso é o que emerge a partir da idéia de cortar o dinheiro de empréstimos e pedindo que os bancos acumulem o dinheiro para a próxima crise, como o comunicado do G20 diz. Embora 130 bilhoes de libras é uma ninharia em comparação com a dívida dos países do G8, a ação de manter o dinheiro em reserva é uma imagem clara do que os “líderes” têm em mente. O que eles querem é um processo lento e doloroso de destruição da economia a fim de causar a maior quantidade de dano possível. Essa política irá assegurar-lhes a consolidação de mais recursos, antes que seja dado o golpe final para a economia global.

Uma das ferramentas mais importantes que os banqueiros utilizaram ao longo dos últimos 100 anos foi criar uma bolha artificial de abundância de dinheiro -dinheiro sem respaldo- a fim de obter a confiança dos países e do público. Isto é o que muitos descrevem como os booms econômicos. Mas dado o fato de que a economia global é baseada em dívida e reservas fracionárias, o único objetivo que as bolhas têm é ligar a maior quantidade de consumidores com dívida e, em seguida, tirar o dinheiro do mercado. Ao fazer isso, os banqueiros aceleram o seu processo de consolidação. Juntamente com a redução dos empréstimos, os países do G8 concordaram em continuar os planos de austeridade em cada país. A austeridade será implantada sobre a classe trabalhadora através da redução de serviços como polícia, hospitais,financiamento das escolas e programas sociais. Isto, por sua vez, causará agitação civil, que é o que os banqueiros querem a fim de estabelecer oficialmente sua grade de controle militar e tecnológico. Uma prévia do que essa grade seria foi visto nas ruas de Toronto, durante a reunião do G20 do fim de semana passado. Também foi visto durante o colapso da Argentina em 2001.

Os infames pacotes de resgate glorificados pelo FMI e o Banco Mundial como a melhor maneira de evitar um colapso completo da economia global -que foi causado pelos próprios banqueiros- foram a maior transferência de dinheiro e recursos na história do mundo. Somente os Estados Unidos deram aos banqueiros cerca de 25 trilhões de dólares em dinheiro dos contribuintes para que Goldman Sachs, Iberia Bank,JP Morgan Chase, Bank of America e outros pudessem pagar aos seus accionistas a sua parte do esquema. Veja a lista completa dos bancos que receberam o dinheiro do resgate aqui. Mas só 25 trilhões de dólares não são suficientes, é claro. Alemanha, por exemplo, votou para dar 66% de sua receita anual para os bancos. Se nos guiarmos pelo comunicado do G20, é claro que eles estão planejando outro grande colapso, possivelmente, o último. Também é claro que eles terão que roubar alguém diferente desta vez. E é isso o que os banqueiros e os “líderes” disseram. Eles vão criar um outro pacote de resgate no qual os acionistas dos bancos terão que pagar a conta. Então se você tem investimentos em qualquer banco, é aconselhável salvar a si mesmo e tirar o dinheiro das contas antes de o novo pacote bancário chegar.  Descaradamente, eles dizem que vão obrigar os bancos a manter bilhões até a próxima crise chegar e os contribuintes não serão sobrecarregados. Eles acham que não sabemos que os milhares de dólares são os mesmos que roubaram em 2009. Agora que eles consolidaram e estabilizaram o seu sistema financeiro fraudulento, não importa se os outros bancos irão cair fora do seu esquema.

A idéia de que 130 bilhoes de libras é suficiente para ter uma rede de segurança para uma crise futura ou uma recessão dupla como eles gostam de chamá-la, é absurda. A dívida produzida pelos derivativos, dependendo a quem você perguntar, está entre 600 trilhoes e 1 quatrilhão de dólares. Segundo Robert Chapman, do theinternationalforecaster.com “comprar derivativos não é uma forma de investimento. É um jogo de seguros e apostas. Os derivativos não criam nada.” De acordo com o Bank of International Settlements, a bolha de derivativos tem crescido exponencialmente, até um ponto em que os montantes negociados ao abrigo deste esquema já ultrapassou em muito o PIB do mundo.”Operações de derivativos têm crescido exponencialmente, até agora, são maiores do que toda a economia global.” Os Credit defaultswaps (CDS) são a forma mais comum de derivativos. CDS são apostas entre duas partes, sobre se uma empresa poderá ou não retornar os investimentos nos seus títulos. Na verdade, são seguros ilegais, sem exigência de titularidade de qualquer ativo. Os CDS são usados para aumentar os lucros em jogos de mudanças no mercado.

rede de dívida em que a economia atual foi construída ao longo dos últimos 100 anos foi uma ferramenta em um processo para reverter tudo o que os seres humanos lograram. Não foi acidental, no entanto, pois este mecanismo foi planejado pelos banqueiros globalistas desde o início. Toda vez que o mundo viveu uma crise financeira como em 1929-1933, a consolidação e o aumento no controle dos banqueiros ficou cada vez maior. As medidas para evitar um colapso total, como nos foi dito, não foram suficientes nem tinham esse como objetivo real. Eles eram simplesmente maneiras de adiar o colapso iminente. As medidas implementadas pelos banqueiros não podem ser usadas para sempre. Alguma coisa ia falhar mais cedo ou mais. “Este esquema levado passo a passo, é uma abordagem não-holística da Fed e do Tesouro para a gestão de crises mas tem sido um fracasso. . . . arrastar e preencher um buraco no [tempo] é inútil quando todo o sistema de impostos está em colapso em meio à tempestade financeira perfeita. Uma abordagem muito mais radical, holística e sistêmica para a gestão de crises é agora necessária “, diz o professor Nouriel Roubini, fundador do Roubini Global Economics.

Depois de tornar a economia global em um sistema baseado em serviços, onde nenhum produto de qualidade é fabricado, dirigindo os países em desenvolvimento a uma dívida enorme, enquanto se colapsam as economias do mundo ocidental, os banqueiros estão prontos para a sua última jogada: a última crise. De acordo com o comunicado do G20, seus membros devem reduzir os seus déficits até 2013, um processo que já começou. Este processo deve terminar em 2016, quando os países devem ter estabilizado os seus déficits. Diminuindo e, em seguida, estabilizando os déficits significa que os países devedores terão que encontrar uma maneira de pagar suas dívidas na íntegra ao FMI e ao Banco Mundial, de acordo com as condições impostas por essas entidades. Cada país que não pagar na íntegra será liquidado e seus recursos serão transferidos automaticamente para os banqueiros globalistas. Imagine o que aconteceu com Argentina, Grécia e Islândia na última década, mas em vez de serem esses países, os devedores serão os Estados Unidos, Espanha, Portugal, Inglaterra e Alemanha.

G20: Banks must hold on to Cash for coming Crisis

The International Crime Syndicate, better known as the G20, determined at its last meeting that the collapse and consolidation of the global economy will begin around 2012 and finish in 2016 with the liquidation of all countries who are in debt with the IMF and the World Bank.

By Luis Miranda
The Real Agenda
June 29, 2010

Bankers and G20 members have direct and indirect ways to speak to the public. At the end of the latest G20 meeting in Toronto, both

From right to left: Canadian Prime Minister Stephen Harper, UK Prime Minister David Cameron and U.S. President Barack Hussein Obama.

groups spoke very clearly about what they have in mind for the foreseeable future. First, they are all in the run to help the process of global consolidation. Second, they will extend the current depression by slowly cutting the available cash for lending. Third, they will continue their austerity programs in a country by country basis to slowly kill their economies and consolidate each nation. Fourth, now that they have robbed the people’s taxes through their rescue packages, they plan to rob shareholders by putting the burden of future rescues on them when the next crisis comes. Fifth, they are disingenuous or irresponsible by thinking that putting aside 130 billion pounds will create any security for the economy, given that only the derivative schemed debt ascends into the quadrillion of dollars. And lastly, they intend to seed and water the final implosion, which according to their communique, can come as soon as 2012.

If all these sounds confusing, please let me explain.

Let’s start by remembering that the G20, and mainly the G8 were the ones who caused the current financial crisis. They did it through their front companies e.g. banks, which implemented a series of corrupt schemes to bankrupt economies and whole countries through investment and betting into risky and sometimes nonexistent financial products e.g. derivatives. These schemes were allowed to exist given the fact that for the past two decades most of the regulations put in place to stop financial fraud were eliminated as an excuse to enable “free markets”. What deregulation effectively permitted was the creation of bogus investing plans which the banks later offered to countries, states and municipalities -often times through governments- and used them to acquire all their infrastructure and cash through the issuance of debt or fraudulent investment.

It has become clear that the G8 and the bankers are not interested in improving current economic conditions. They simply want to extend the crisis as long as they need to, in order to execute their final plan of global implosion. That is what emerges from the idea of cutting lending money and asking banks to hoard the cash for the next crisis, as the G20 communique says. Although 130 billion pounds is peanuts in comparison with the debt most G8 countries hold today, the action of keeping the cash in reserve paints a clear picture of what the ‘leaders’ have in mind. What they want is a slowly and painfully grind down the economies in order to cause the greatest damage. Such policy will assure them the consolidation of more resources before the final blow to the global economy is given.

One of the most important tools the bankers have used along the last 100 years is to create an artificial bubble of money abundance -Fiat money- in order to get the countries and the public to trust them. This is what many describe as economic booms. But given the fact that the global economy is based on debt and fractional reserve banking, the only goal the money bubbles had was to hook up the greatest amount of debt on consumers to then pull the cash off the markets. By doing this, the bankers accelerate their consolidation process. Along with the reduction in lending, G8 nations agreed to continue the austerity plans in each individual country. Austerity will be implanted on the working class by cutting services such as police, hospitals, school funding, and social programs. This will in turn cause civil unrest, which is what the bankers want in order to officially freely unleash their military and technological control grid. A preview of what this grid would look like was seen on the streets of Toronto during the last G20 meeting. It was also seen during Argentina’s collapse in 2001.

The infamous rescue packages glorified by the IMF and the World Bank as the best way to avoid a complete collapse of the global economy -which as explained before was caused by the bankers themselves- were the biggest transfer of money and resources in the history of the world. Only the United States gave the bankers around $25 trillion in tax payer money so Goldman Sachs, Iberia Bank, JP Morgan Chase, Bank of America and others could pay their shareholders their chunk of the loot. See a complete list of what banks got the cash here. But those $25 trillion were not enough, of course. Germany for example, voted to give 66% of its annual revenue to the banks. Going by the G20’s communique it is clear they are planning another big collapse, possibly the last one. It is also clear they will have to rob someone else this time and that is what the bankers and the ‘leaders’ have said. They will stick the next rescue package to the banks’ shareholders -not to the big ones, though-. So if you have investments in any bank, it is advised to rescue yourself out of it before the new banking package comes along. Shamelessly, they will obligate the banks to hold billions so when the next crisis comes, taxpayers will not be burdened as if we don’t know those billions are the same they stole last 2009. Now that they consolidated and stabilized their fraudulent financial system, it won’t matter if other banks fail, because they are all covered.

The idea that 130 billion pounds is a safety net for a future crisis, or double dip recession as they like to call it, is preposterous. Derivative-produced debt is, depending who you ask, between $600 trillion and $1 quadrillion. According to Robert Chapman, from the theinternationalforecaster.com, buying derivatives is not investing.  It is gambling, insurance and high stakes bookmaking.  Derivatives create nothing.” According to the Bank of International Settlements, the derivative bubble has grown exponentially to a point where the amounts negotiated under this scheme has long surpassed the world’s GDP. “Derivative trades have grown exponentially, until now they are larger than the entire global economy.”Credit default swaps (CDS) is the most common form of derivatives. CDS are bets between two parties on whether or not a company will default on its bonds. They are indeed illegal insurance policies, with no requirement to hold any asset. CDS are used to increase profits by gambling on market changes.

The WEB of DEBT in which the current economy was built throughout the past 100 years was the tool used in a process to reverse everything humans achieved. It was not unintended however, as this was the mechanism the globalist bankers planned on using from the beginning. Every time the world experienced a financial crisis like in 1929-1933, the grip of control tightened more and more. The measures to avoid a total collapse, as we were told, were not such. They were simply ways to postpone the imminent collapse.  But the measures the bankers implemented cannot be used forever. Sooner rather than later something will give in. The step by step, ad hoc and non-holistic approach of Fed and Treasury to crisis management has been a failure. . . . [P]lugging and filling one hole at [a] time is useless when the entire system of levies is collapsing in the perfect financial storm of the century. A much more radical, holistic and systemic approach to crisis management is now necessary,” says professor Nouriel Roubini. founder of Roubini Global Economics.

After turning the global economy into a service-based system, where no quality products are manufactured; after driving developing countries into massive debt while collapsing the economies of the western world, the bankers are ready for their last move: a one last crisis. According to the G20 communique, its members must cut their deficits by 2013, a process that already started. This process is supposed to end in 2016, when the nations should have stabilized their deficits. Cutting and then stabilizing deficits means that debtor countries will have to find a way to pay their debts in full to the IMF and World Bank according to the conditions imposed by those entities. Every country that does not pay in full will be liquidated and their resources will be automatically transferred to the globalist bankers. Imagine what happened to Argentina, Greece and Iceland in the last decade, but instead of being those countries, the debtors will be the United States, Spain, Portugal, England and Germany.