Following up from my article here with some questions as to the real and perceived differences between Democrats and Republicans, some have taken the view that American democracy has become a corporatocracy, with both parties complicit in selling their ideals to moneyed interests.
For most liberals the Democrats are the lesser of two evils, but Paul Craig Roberts, a former Assistant Secretary of the US Treasury and Associate Editor of the Wall Street Journal, in Servants and Masters: The Special Interests Won Again,doesn’t hold back when he characterizes politicians, including Democrats such as Obama, as “whores”.
I don’t think that either candidate is a good choice or that either offers a choice. Washington is controlled by powerful interest groups, not by elections. What the two parties fight over is not alternative political visions and different legislative agendas, but which party gets to be the whore for Wall Street, the military-security complex, Israel Lobby, agribusiness, and energy, mining, and timber interests.
. . . Obama plays on the heart strings of his supporters by relating a story of a child with leukemia now protected by Obamacare, while he continues to murder thousands of children and their parents with drones and other military actions in seven countries. Obama was able to elicit cheers from supporters as he described the onward and upward path of America toward greater moral accomplishments, while his actual record is that of a tyrant who codified into law the destruction of the US Constitution and the civil liberties of the American people.
. . . The election was about nothing except who gets to serve the interest groups. The wars were not an issue in the election. Washington’s provoking of Iran, Russia, and China by surrounding them with military bases was not an issue. The unconstitutional powers asserted by the executive branch to detain citizens indefinitely without due process and to assassinate them on suspicion alone were not an issue in the election. The sacrifice of the natural environment to timber, mining, and energy interests was not an issue, except to promise more sacrifice of the environment to short-term profits.
usawatchdog.com – Dr. Paul Craig Roberts thinks there is “an impending collapse of the exchange value,” and the US dollar could unexpectedly plunge in buying power. Dr. Roberts contends, “All of a sudden, people walk into Walmart, as usual, and they …
It’s hard to argue with the penetrating logic and comprehensive insights of a man who has worked in the upper echelons of political, financial and media power, and more importantly, isn’t afraid to tell the truth about the fraud, corruption, waste, tyranny and carnage he sees around him. That Americans largely stand idly by as the power elite bankrupt the treasury and make a mockery of the constitution is a sad chapter in American history.
After seeing this article I was happy to learn about this great writer and went to his website to see what other golden nuggets of wisdom he had to share. Few people understand financial and political realities from first-hand, insider experience as well as he.
In The Fiscal Cliff Is A Diversion: The Derivatives Tsunami and the Dollar Bubble, he makes clear the theatrical sham of the fiscal cliff. The politicians threaten with forced, arbitrary austerity at a time the economy can ill afford it, notwithstanding it is unnecessary. It sounds similar to fear stirred up by the war on terror, which would leave us all doomed were we not to continue spending $trillions on this interminable war against a phantom enemy, in ways that are not accountable to the American people.
But the fiscal cliff only seeks $1.3 trillion in savings over 10 years. We’ve spent 4 times that amount already in the Iraq and Afghanistan wars, and the entire military, security and intelligence budget of the US is now about $1 trillion a year. So the entire fiscal cliff could be “solved” with a modest 11% cut in the military budget, which probably contains about 30% corruption, graft and fraud anyway.
When you throw in the $trillions of fraud in the healthcare and financial systems — for which the Fed now has to print $85 billion dollars a month to cover its tracks — it is plain to see that there is no problem at all, except for the theft and deception the US government is perpetrating on its own people.
. . . the fiscal cliff is about small numbers compared to the Derivatives Tsunami or to bond market and dollar market bubbles.
The fiscal cliff requires that the federal government cut spending by $1.3 trillion over ten years. The Guardian reports that means the federal deficit has to be reduced about $109 billion per year or 3 percent of the current budget. http://www.guardian.co.uk/world/2012/nov/27/fiscal-cliff-explained-spending-cuts-tax-hikes More simply, just divide $1.3 trillion by ten and it comes to $130 billion per year. This can be done by simply taking a three month vacation each year from Washington’s wars.
The Derivatives Tsunami and the bond and dollar bubbles are of a different magnitude. Last June 5 in “Collapse At Hand” http://www.paulcraigroberts.org/2012/06/05/collapse-at-hand/ I pointed out that according to the Office of the Comptroller of the Currency’s fourth quarter report for 2011, about 95% of the $230 trillion in US derivative exposure was held by four US financial institutions: JP Morgan Chase Bank, Bank of America, Citibank, and Goldman Sachs.
95% of the $230 TRILLION in US derivative exposure is held by 4 “too big to fail banks”. By allowing this coterie of elite bankers to commit massive financial fraud and steal trillions from the US treasury, America is on a fast track to a complete debasing of the dollar and US standard of living.
With the repeal of Glass-Steagall these honest commercial banks became gambling casinos, like the investment bank, Goldman Sachs, betting not only their own money but also depositors money on uncovered bets on interest rates, currency exchange rates, mortgages, and prices of commodities and equities.
These bets soon exceeded many times not only US GDP but world GDP. Indeed, the gambling bets of JP Morgan Chase Bank alone are equal to world Gross Domestic Product.
These “gambling casinos” are run by world mafias called international bankers. They are gambling with money no one can afford to lose, and it is your money. The entire global financial system is skating on the thin ice of this ponzi scheme (Barclays bank has been fined $470 million for manipulating Libor rates and is now facing a similar fine for trading fraud). The problem is, when the criminal international banking cartels lose their gambling bets, all holders of assets denominated in those currencies as well as current and future taxpayers suffer, except for the criminals who perpetrate the sham, as they are now being bailed out by the Federal Reserve and the European Central Bank.
The Derivatives Tsunami is the result of the handful of fools and corrupt public officials who deregulated the US financial system. Today merely four US banks have derivative exposure equal to 3.3 times world Gross Domestic Product. When I was a US Treasury official, such a possibility would have been considered beyond science fiction.
Ask yourself. Why has the Fed, which just announced QE3 in time to reelect Obama and goose the stock market for the new year holiday, just announced another $45 billion a month in QE4? What financial crisis do they see they aren’t telling you about? All of this stimulus to create more jobs, which it has failed to do in the last 4 years?
“In other words, the entire economic policy of the United States is dedicated to saving four banks that are too large to fail.“[emphasis mine]
The international banking elites have bribed the governments of the world to aid and abet their insatiable demand for more money. Your money.
Once again, the media and its master, the US government, hide the real issues behind a fake one. The fiscal cliff has become the way for the Republicans to save the country from bankruptcy by destroying the social safety net . . .
Now that there are no jobs, now that real family incomes have been stagnant or declining for decades, and now that wealth and income have been concentrated in few hands is the time, Republicans say, to destroy the social safety net so that we don’t fall over the fiscal cliff.
In human history, such a policy usually produces revolt and revolution, which is what the US so desperately needs.
“. . . the US government  has become less truthful, less accountable, more immoral, more evil, and more oppressive.” Revolution is what the US desperately needs. Do we have the courage, the will to revolt against the corporatocracy that controls and is now bankrupting our democracy?
Well do we?