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The Economic Elite vs. the People of the United States of America: Part IV
by David DeGraw / February 21st, 2010
Although most of the Economic Elite live and operate inside the US, they are not concerned for our future. To them, the entire world is theirs and they work intimately with other elites throughout the world against the interests of the US public. Ever since the days of Henry Ford, the Economic Elite have needed a thriving US middle class to increase growth and profits, but now, in the global economy, they view the US middle class as obsolete. They increasingly look globally for profits and they would rather pay cheap labor in countries like China and India. On top of the millions of jobs they have already shipped overseas to increase profits at our expense, they are planning to ship an additional 25% of current US jobs overseas as well.
They now see us as the biggest obstacle to their continued consolidation of wealth and resources. This is why they have stepped up their attack on us.
If you want further proof of this, all one needs to do is study the Wall Street bailout. The entire bailout is strategically designed to eliminate the US middle class. Every time you hear the word bailout, you should think coup détat. Here is the definition of coup détat:
A coup détat or coup for short, is the sudden unconstitutional deposition of a government, usually by a small group of the existing state establishment to replace the deposed government with another . A coup détat succeeds when the usurpers establish their legitimacy if the attacked government fail to thwart them, by allowing their (strategic, tactical, political) consolidation and then receiving the deposed governments surrender; or the acquiescence of the populace and the non-participant military forces.
Typically, a coup détat uses the extant governments power to assume political control of the country. In Coup dÉtat: A Practical Handbook, military historian Edward Luttwak says: A coup consists of the infiltration of a small, but critical, segment of the state apparatus, which is then used to displace the government from its control of the remainder, thus, armed force (either military or paramilitary) is not a defining feature of a coup détat.
The bailout was a financial coup, an intelligence operation to seize control of the US economy and tax system. It is similar to what the Economic Elite have done through the International Monetary Fund (IMF) in many other countries throughout the world. It is clearly a case of economic imperialism. When financial coups are carried out in other countries, they call it a Structural Adjustment Program (SAP). The end result is the theft of working class wealth, the privatization of public functions and resources, rising unemployment, the elimination of the middle class and increasing taxation and debt that turns the overwhelming majority of the nation into a peasant class. This is exactly the track we are on now.
Just look at how they have already done this in many other countries, and then look at the bailout.
The success of the coup is clear by the control of the US Treasury by Goldman Sachs criminal masterminds Hank Paulson and Tim Geithner, and the continued control of the Federal Reserve by Ben Bernanke.
In 1970, Hank Paulson began his career in the Pentagon working for Secretary of Defense Melvin Laird. In 1972, he then moved to the White House, where he worked for the Nixon Administration. He was the assistant to John Ehrlichman during the events of the Watergate scandal for which Ehrlichman was convicted, and sentenced to prison. After Paulsons disgraced exit from the political world, he joined Goldman Sachs in 1974, eventually becoming CEO in 1999 when he led an effort to force out Goldmans previous CEO John Corzine. While leading Goldman, Paulson developed very intimate relations with members of the Chinese elite, visiting the country over 70 times.
In 2004, during his time as Chairman and CEO of Goldman Sachs, Paulson personally led a successful effort to get the SEC to remove the net capital rule, which was a requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. This was the biggest reason why the economic crisis happened. With the net capital rule out of the way, Goldman Sachs and other major Wall Street firms with over $5 billion in assets were free to engage in high risk/high reward behavior. This led to the housing bubble with the creation of high risk speculation, essentially rigged Ponzi-style scams like mortgage-backed securities, credit derivatives, and credit default swaps and other exotic structured finance instruments that only highly-trained mathematicians understand, based on models that are beyond the comprehension of most traders.
Full Story Dissident Voice : The Financial Coup d?Etat
by David DeGraw / February 21st, 2010
Although most of the Economic Elite live and operate inside the US, they are not concerned for our future. To them, the entire world is theirs and they work intimately with other elites throughout the world against the interests of the US public. Ever since the days of Henry Ford, the Economic Elite have needed a thriving US middle class to increase growth and profits, but now, in the global economy, they view the US middle class as obsolete. They increasingly look globally for profits and they would rather pay cheap labor in countries like China and India. On top of the millions of jobs they have already shipped overseas to increase profits at our expense, they are planning to ship an additional 25% of current US jobs overseas as well.
They now see us as the biggest obstacle to their continued consolidation of wealth and resources. This is why they have stepped up their attack on us.
If you want further proof of this, all one needs to do is study the Wall Street bailout. The entire bailout is strategically designed to eliminate the US middle class. Every time you hear the word bailout, you should think coup détat. Here is the definition of coup détat:
A coup détat or coup for short, is the sudden unconstitutional deposition of a government, usually by a small group of the existing state establishment to replace the deposed government with another . A coup détat succeeds when the usurpers establish their legitimacy if the attacked government fail to thwart them, by allowing their (strategic, tactical, political) consolidation and then receiving the deposed governments surrender; or the acquiescence of the populace and the non-participant military forces.
Typically, a coup détat uses the extant governments power to assume political control of the country. In Coup dÉtat: A Practical Handbook, military historian Edward Luttwak says: A coup consists of the infiltration of a small, but critical, segment of the state apparatus, which is then used to displace the government from its control of the remainder, thus, armed force (either military or paramilitary) is not a defining feature of a coup détat.
The bailout was a financial coup, an intelligence operation to seize control of the US economy and tax system. It is similar to what the Economic Elite have done through the International Monetary Fund (IMF) in many other countries throughout the world. It is clearly a case of economic imperialism. When financial coups are carried out in other countries, they call it a Structural Adjustment Program (SAP). The end result is the theft of working class wealth, the privatization of public functions and resources, rising unemployment, the elimination of the middle class and increasing taxation and debt that turns the overwhelming majority of the nation into a peasant class. This is exactly the track we are on now.
Just look at how they have already done this in many other countries, and then look at the bailout.
The success of the coup is clear by the control of the US Treasury by Goldman Sachs criminal masterminds Hank Paulson and Tim Geithner, and the continued control of the Federal Reserve by Ben Bernanke.
In 1970, Hank Paulson began his career in the Pentagon working for Secretary of Defense Melvin Laird. In 1972, he then moved to the White House, where he worked for the Nixon Administration. He was the assistant to John Ehrlichman during the events of the Watergate scandal for which Ehrlichman was convicted, and sentenced to prison. After Paulsons disgraced exit from the political world, he joined Goldman Sachs in 1974, eventually becoming CEO in 1999 when he led an effort to force out Goldmans previous CEO John Corzine. While leading Goldman, Paulson developed very intimate relations with members of the Chinese elite, visiting the country over 70 times.
In 2004, during his time as Chairman and CEO of Goldman Sachs, Paulson personally led a successful effort to get the SEC to remove the net capital rule, which was a requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. This was the biggest reason why the economic crisis happened. With the net capital rule out of the way, Goldman Sachs and other major Wall Street firms with over $5 billion in assets were free to engage in high risk/high reward behavior. This led to the housing bubble with the creation of high risk speculation, essentially rigged Ponzi-style scams like mortgage-backed securities, credit derivatives, and credit default swaps and other exotic structured finance instruments that only highly-trained mathematicians understand, based on models that are beyond the comprehension of most traders.
Full Story Dissident Voice : The Financial Coup d?Etat
