Michael Hoffman on Obama's Mideast Foray

Michael Hoffman has written a timely and thoughtful article on President Obama's recent trip to the mid-east, his speech in Egypt, and his subsequent trip to Germany and Buchenwald.  The Hoffman article titled 'Obama - Baseless, Ignorant, and Hateful, may be read here.

Citigroup & Bank of America, in Today's News 06.05.09

Citigroup and Bank of America.  Boy, it sure doesn't pay to get on the wrong side of the owners of the world's wealth-generating machine. They are relentless and without conscience. Ever since the beginning of the economic crisis, a campaign has been waged against Citigroup and its chief officer Vikran Pandit, and against Bank of American and its chief officer Kenneth Lewis. Today's news shows that the campaign is far from over.

(Why these two banks have been targeted remains murky. The cryptocracy is the CRYPTocracy because secrecy is its mode of operation and it never reveals its true aims to the public. Perhaps in these cases, one group of families is trying to make a grab for the banks by changing the executive structure to better reflect the families' interests. Who knows? In contrast Jamie Dimon, the chief officer of JP Morgan Chase & Co seems to be blessed and can do no wrong. He and his bank face no campaign to get them whatsoever.)

Citigroup. WSJ: "The Federal Desposit Insurance Corp. is pushing for a shake-up of Citigroup Inc.'s top management, imperiling Chief Executive Vikram Pandit, people familiar with the matter said." Moreover, Sheila Blair, Chair of the FDIC recently pressed a fellow regulator to the lower the government's confidential ranking of Citi's health. And moreover, "Federal officials have reached out to Jerry Grundhofer, the former U.S. Bancorp CEO who recently joined the Citigroup's board, to gauge his interest in the top [Citigroup] job..."  

Citigroup can't catch a break. The powers-that-be are still out to break Citigroup despite the bank's extensive efforts to shrink the bank and clean up any perceived problems. Citigroup even performed better than expected on the Federal Reserve's (read Rothschild's) 'stress test.'

One complication for Pandit is his wild battle with Blair over Citigroup's failed effort to buy Wachovia Corp. It took a while for Pandit to realize he can't win such a battle. He sought to smooth things over, but it looks like his gesture is too late.

Bank of America. "Bank of America Corp. Chief Risk Officer Amy Woods Brinkley and director Robert Tillman are leaving the bank amid a U.S.-mandated review, casting the spotlight once again on the government's role in decision making at the lender." Moreover, the House Committee on Oversight and Government Reform will hold a hearing, summoning CEO Lewis to testify. "People familiar with the [congressional] probe have said investigators are focusing on possible discrepancies between Mr. Lewis's public statements, his testimony to New York Attorney General Andrew Cuomo and what he told Bank of America's board." And moreover, "...federal regulators are pressuring [Bank of America] to improve its governance and management following a recent stress test showing a need for $33.9 billion in new equity as a buffer against future loses."

If Kenneth Lewis hasn't received the message yet that the cryptocracy is out for his scalp, he better learn fast.  It looks like the dogs of war have been called out to go after Lewis and the BoA.

If all these machinations remind anyone of the behavior in the Soviet Union's leading circles, their recollections are correct.  The Obama administration, carrying out the mandate of the cryptocracy, has taken giant steps to establish a government-run economy, very similar to Soviet Union.  Individual corporations, be it banks, auto companies, or insurance companies, are no longer free to govern themselves.  All major decisions now have to meet the approval of the government's central planners.  (In this regard the Obama administration today announced they are about to appoint a pay Czar, a "Special Master for Compensation.")

The American public, whether they know it or not, now finds itself in a totally new reality.  Soviet-style bureaucracy and central planning are now an established part of American life. 

Pakistan Refugee Crisis, in Today's News 06.04.09

Pakistan Refugee Crisis.  According to the Wall Street Journal today the United States has pledged $200 million (if Congress approves) for a total of $300 million in a bid to quell a refugee crisis of three million displaced people.  "U.S. officials stressed on Wednesday that a quick and coordinated international response to Islamabad's emergency was crucial to underpinning recent gains Pakistan's army has made against the Taliban..."  

So far there are no takers from other countries on providing aid.  The United States intends to put the arm on Arab countries to fork over during a tour of major Arab states next week by Richard Holbrooke, the Obama administration's point man on Pakistan. The United Nations sought $543 million to address the crisis, but has received only a fraction.  "The Obama administration is hoping that its quick (!) and high profile (!) response to the refugee crisis can win it points with the Pakistani public." (!!!)(Emphasis added.)

Comment:  This is almost too priceless for words.  The arrogance and stupidity of the American policy makers is beyond description.

The refugee crisis, which has gone from non-existent to three million in a few weeks, was brought about by the United States pressuring a reluctant Pakistan to wage a war on the Taliban in the Swat valley.  Apparently the US gave little thought to the consequences and now they have one of the worst refugee crises in world history on their hands.  All that mattered to the US was the attack on the Taliban.

Then when the crisis hit, the United States did not respond, putting pressure on the Pakistan government to pursue the war diligently and expeditiously.  When the US finally achieved some of its goals, the American policy makers promised a lousy, little stipend (with Congress potentially veto-ing it) to go to Pakistan.  And then, astoundingly, the US lets it be known that it expects other countries to pay for the crisis that the US policy created.  The US response has been anything but timely, and the only thing high-profile about it is the public appeal to other nations to pay.

The most amazing part of all this is the US saying their response will impress the Pakistani public. Yeah, right.  Three million people have had to abandon homes and livelihoods to move to small tents in sweltering camps under the ferocious sun where there is no food and little water and plenty of dust storms.  And every one of these refugees knows that it was the United States that got them into this mess. Not a few of them must be thinking or saying, 'Certainly living under the Taliban couldn't be any worse than this.'

And now the US policy makers think they will win these people over by a visit from Mr. Holbrooke to the camps, and by the promise of a few measly bucks.  Dream on, Washington. This is unbelievable. 

And oh BTW, will the Vatican every get around to saying (let alone doing) something about three million innocent people who are experiencing unwanted and drastic suffering?  Now that the US media is talking about the refugees, maybe the Vatican can realize it is okay to be interested and can throw something together for the public.

Merkel Blasts Fed, in Today's News 06.03.09

Merkel Blasts Fed.  Today's WSJ features a major front-page headline "Germany Blasts 'Powers of the Fed.'"  From the article, "German Chancellor Angela Merkel, in a rare public rebuke of central banks, suggested the European Central Bank and its counterparts in the U.S. and Britain have gone too far in fighting the financial crisis and may be laying the ground work for another financial blowup." 

Actually, Merkel is mainly critical of the Fed and the British central bank.  "Ms. Merkel's critique jibes with statements from Axel Weber, the head of Germany's Central Bank and a member of ECB's 22-person Governing Council."

If ever there was an employee of the Rothschild's, Merkel is it.  So when a Rothschild key player attacks key Rothschild entities (the central banks), one might wonder what is going on.

On one level, there is not much going on.  It is a simple dispute about which tactics best serve the master family.  Merkel likes her German central bank (also controlled by Rothschild) and is here tooting its horn, as she is sometimes wont to do.  This is not the first time she has expressed these sentiments, but for reasons best known to the WSJ, the WSJ chose to feature her remarks today.

On another level, things get more interesting.  Merkel, in the past, has been a strong advocate for a world-wide central bank and centralized banking regulations. Merkel's critique merely poses a problem that requires an answer.  Is the world to have different national banks with different policies?  Is there no way to resolve such differences?  And the answer is: Well, yes there is, if we only had a world central bank to set policy and resolve disputes, and to make the world a better place.

The propaganda never ends.  The Rothschild interests and others will keep it up until they get what they want.  The world is now at the first stages of the creation of a world government, world banking, and a world currency.  Quite a bit more of preliminary activity is still required, but those who favor world government are helping lay the basis for the change by presenting the need for world government at any opportunity.

POSTSCRIPT 06.05.09.  Rothschild employee Bernanke, Chairman of the American Federal Reserve, made remarks to Congress on the need to reduce the federal deficit one day after Rothschild employee Merkel's remarks discussed above. Taken together the remarks seem to indicate a change of emphasis by the world's ruling families.  Gone are the days of freely generating money, throwing it at every 'problem' available, and piling up unprecedented debts.  Many of the goals that the ruling families wanted to pursue during the economic crisis have been accomplished.  Now is the time, therefore, for a little fiscal restraint, moderating the money-generation machine, and cutting costs.  Merkel and Bernanke often speak first on the desires of the ruling families, and so they have done here.

Bishop Fellay Discusses Bishop Williamson

Society of Saint Pius X Bishop Fellay discussed in April in Winona, Minnesota, the case of SSPX Bishop Williamson.  As may be recalled, Williamson questioned an aspect of the holocaust, and as a result was driven from Argentina, was not defended by the Church leaders or the SSPX, and was silenced by the Vatican.  Various Church leaders subsequently made remarks that indicated that the facts of the Shoah myth are now de facto Church dogma.  The video tape of Fellay's remarks is now available on a couple of blogs listed in the next sentence. This tape and the cogent remarks of the authors of the Maurice Pinay blog and Michael Hoffman's On the Contrary blog ought to be read/studied.   

Geithner in China, in Today's News 06.02.09

Geithner in China.  What is US Treasury Secretary Timothy Geithner doing in China? Doesn't he have enough to do in the United States implementing the government-run economy and telling GM and Citibank what to do?

WSJ: "BEIJING--US Treasury Secretary Timothy Geithner, in a speech here Monday, touched on a contentious subject, urging China to move forward to a more flexible exchange-rate regime."

The United States has harped on China to adopt a flexible exchange rate for some time now.  To some degree the rise in the price of oil a couple of years ago was designed to pressure China on exchange rates.  So it is natural that Geithner would talk on this subject.  (BTW, it is lucky for Geithner that his speech had to be translated.  Anyone who has heard his monotone in English can easily be bored to the stage of loud snoring.)

But are exchange rates the reason for his China visit? Another quote from the WSJ a dozen pages or so later can shed some light:

"The mixture of an unprecedented amount of Treasury-bond offerings along with government support to troubled financial institutions and banks 'will cause the total amount of Treasurys and other government-backed debt to soar from roughly 25% of the total investment-grade bond market in 2007 to 80% by 2010,' according to a recent report from investment manager BlackRock Inc." (Emphasis added.)

And so one can surmise that Geithner is in China to make sure that the Chinese will fork over to invest in the 'unprecedented' increase in debt offerings.  Not too long ago the Chinese leadership expressed doubts about the wisdom of such investing. They even tried to band together with Russia to form a new world currency.

Geithner's job is to reassure the weak-hearts in China that all is well with investing in the United States.  In fact it is so well that China needs to increase its investing dramatically. And they need to do it now in 2009 and 2010 when the 'unprecedented' rise in debt is occurring.

China has been one of the bigger investors in Treasurys in recent years.  So dependent on this source of revenue is the United States that the success of the cryptocracy's 'reform' of the economy rides on China's investment continuance and increase.  

One can assume that the Chinese will go along.  They have nothing to lose, really. They get a return on their investment and their leverage on the United States government will grow.

Does the cryptocracy care that the United States is dependent on China, who could pull the plug at any time on the stability of the American economy?  Of course not. It is entirely in the cryptocracy's interest to have everyone dependent on everyone else. The resulting crises and negotiations provide abundant opportunities for the cryptocracy to make even more money.

General Motors, in Today's News, 06.01.09

General Motors Files for Bankruptcy.  The cryptocracy's plan for General Motors is nothing short of audacious.  Cleave GM into (1) a "new GM" that is leaner, smaller, and free of debt and obligations, and into (2) an "old GM" that takes over all the brands that don't sell and all the benefit packages that GM has wanted to get rid of for decades.  The cryptocracy's dream is for new-GM to be quickly freed of all encumbrances via the bankruptcy proceedings by the end of summer, and then return as competitive money maker.  The old-GM is projected to stay in bankruptcy court for as much as ten years.  A decade of course gives the cryptocracy and the new managers time to attack the old-GM 'problems' in such a way that the managers don't have to confront all those affected at once.  

This is a fulfillment of one of the cryptocracy's biggest and best dreams.  All GM's problems, which the cryptocracy has been trying for decades to get the GM managers to deal with, are suddenly all taken care of. A new GM emerges and a legal framework has been established to deal with the billions of dollars of debt and employee benefits. Now government edicts from a bankruptcy court will do what the previous GM managers wouldn't or couldn't do.  And even better for the cryptocracy is the agreement of the United Auto Workers.  

It seems too good to be true, from the cryptocracy's point of view.  The big question is: will it work?  The cryptocracy almost alway over-reaches itself, and thereby causes it own debacle.  In this case, everything looks good on paper for them.  But, many powerful entities, court proceedings, mountains of debts and obligations, and tens of thousands of affected individuals and corporations are involved.  One can almost predict manifold unforeseen consequences that will gum up the works.

Plus, if the cryptocracy thinks that the only obstacle to selling GM brand cars is simply slimming down the company, boy are they in for shock. Public resistance to buying something that only has the government's endorsement going for it, will be hard to break down.  Especially given GM's record over the last couple of decades of producing inferior vehicles to Toyota, Honda and others.

The economic crisis produced by the cryptocracy has produced the conditions to attack many of the obstacles to their greater profits.  The GM bankruptcy has been one of their top priorities, now fulfilled.  For background commentary on this situation, go here.