America the economic bully
The BRIC nations have started a new alternative to global central banks, called the New Development Bank. Michael Hudson discusses this development in Escaping the Dollar.
“And basically I think what’s motivated the BRICS, these countries together, is they have one thing in common: they’re all under attack by the United States economically, and in Russia’s case militarily, with sanctions. And so what Russia is trying to do is say, look, right now the United States can make a threat against us. They can say, if you don’t do what we want militarily or politically or economically, we can block your currency payments, we can block the banks, and we can strangle you.”
BRIC cooperation is occurring because the New World Order is being run for the benefit of the United States at the expense of everybody else. The new BRIC cooperation also includes nuclear weapons cooperation.
So the United States is attacking the BRIC countries, and presumably many other countries around the world. What’s new about the story is, the rest of the world is organizing to resist. This means we are in a new phase of the New World Order takeover: Organized Resistance. How is that going to work out? We think it’s going to threaten the fragile global financial system. Asset seizures, currency declines, debt defaults, broken trade agreements.
We have never liked to predict economic doom as we know the Federal Reserve is capable of supporting fragile banks with very low-cost loans. But this time it feels different. We are moving into crisis stage due to the aggressive bullying of the U.S. government abroad. Other nations are organizing for self-defense.
The United States government has put in place many new regulations over foreign banks. The general name for this is Facta. The U.S. claims the right to seize illegal assets of foreign banks. Obviously this tactic is making America very unpopular abroad.
The U.S. government just stole $8 billion from a French bank. This could have been a warning shot to the French government not to consummate a deal with Russia. Note that the U.S. took Ukraine’s gold and has robbed other nations that it has “liberated.” The New World Order is just American gangsterism.
Obama recently seized control of FTBE bank in Cyprus. The excuse: money laundering. The reason: to penalize Russia.
It seems that NSA spying on German Chancellor Merkel was designed to block cooperation with Russia. However, the backlash to spying and sanctions will probably be a tilt by Merkel toward Russia. One reason is, the economic sanctions imposed by the U.S. on Russia are costing German corporations too much profit. Europe is now organizing its resistance, though this is in the early stage.
By the way, NSA spying on Americans is mainly designed to establish sexual preferences and behaviors of government and corporate officers for purposes of blackmail. Yes, this was J. Edgar Hoover’s modus operandi. It goes all the way back to Adam Weishaupt and the Bavarian Illuminati. It’s an easy method to maintain concensus and prevent dissent. This is how the gangsters maintain control of their subordinates.
Here at home big banks have been hit with a big $250 billion lawsuit for mismanagement of their mortgage portfolios during the housing crisis. Can any of these banks afford to lose this lawsuit?
The criminal Obama administration has shifted the U.S. system of government from neoliberalism to racist socialist dictatorship. As it ramps up the debt, it’s increasingly depending on newly legalized confiscations of wealth to stay afloat.
How U.S. food aid sent abroad wrecks foreign markets and bankrupts farmers.
It is possible that the European financial stocks have peaked and are turning down. We are sure the European central bankers would like to see the euro decline. If France and Germany rebuff Obama’s sanctions against Russia and split the U.S./European alliance, Europe will be cut off from U.S. Federal Reserve support. Its banks will fail and its economy will go into recession.
England’s financial system might be the winner in the new global financial war. The recent Argentinian debt default was politically motivated, over Argentina’s refusal to reward so-called Vulture Funds, who had accumulated Argentina’s debt at pennies on the dollar, with full repayment. The Vulture Funds, many in England, hold billions of dollars of distressed government debt from many countries. If these countries end up paying their debt at par value, England’s banks and hedge funds will profit handsomely. If they repudiate their debt and join the BRIC rebels, England and the U.S. will become isolated in the global financial war.
Although European countries are not the most debt-ridden and most vulnerable countries in the world, we are keeping our eyes on Europe this year. Europe could be the first big egg to crack under U.S. financial pressure. Rippling global debt default could start anywhere, but we think it will hit Europe hardest.
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