Wednesday, February 18, 2009


"Capitalism is the legitimate racket of the ruling class."
~ Al Capone.

What? The financial "elites" siphoning money out of the US? Illegally sucking capital out of the US? Using "privatization" to steal assets? Why, those dirty parasites wouldn't kill their own host like that, would they?

I described a meeting that had occurred in April 1997 . . . I had given a presentation to a distinguished group of U.S. pension fund leaders on the extraordinary opportunity to reengineer the U.S. federal budget. I presented our estimate that the prior year’s federal investment in the Philadelphia, Pennsylvania area had a negative return on investment.

We presented that it was possible to finance places with private equity and reengineer the government investment to a positive return and, as a result, generate significant capital gains. Hence, it was possible to use U.S. pension funds to significantly increase retirees’ retirement security by successfully investing in American communities, small business and farms — all in a manner that would reduce debt, improve skills, and create jobs.

The response from the pension fund investors to this analysis was quite positive until the President of the CalPERS pension fund — the largest in the country — said, “You don’t understand. It’s too late. They have given up on the country. They are moving all the money out in the fall [of 1997]. They are moving it to Asia.”

Sure enough, that fall, significant amounts of moneys started leaving the US, including illegally. Over $4 trillion went missing from the US government. No one seemed to notice. Misled into thinking we were in a boom economy by a fraudulent debt bubble engineered with force and intention from the highest levels of the financial system, Americans were engaging in an orgy of consumption that was liquidating the real financial equity we needed urgently to reposition ourselves for the times ahead.

Read the whole thing.

Engels was right. Capitalism is eating itself. I guess that's why his associate was on the cover of the European edition of TIME magazine this month. I guess that's also why copies of Das Kapital began to fly off German bookstore shelves last October.

Blackwater, the infamous mercenary company who murdered a bunch of civilians in Nisoor Square, Baghdad, two years ago has changed its name to Xe and beefed up its aviation "support" in order to assist with global narcotics trafficking. Now that the global financial parasites have sucked legitimate capital dry, they need to kick the infusion of illegal capital into high gear in order to save their own asses.

Oh, by the way, in case you were wondering if Sibel Edmonds might have a chance at justice with the new administration . . .

Members of the US Congress re-introduced bipartisan "state secrets" legislation on Wednesday, aimed at protecting executive privilege while ensuring judicial review.

The introduction of the bill comes as Obama administration lawyers on Monday urged a federal appeals court in San Francisco to continue the policy of the previous White House and invoke state secrets privilege in a case about CIA clandestine detentions and rendition.

"The State Secrets Protection Act will help guide the courts to balance the government's interests in secrecy with accountability and the rights of citizens to seek judicial redress," Patrick Leahy, Chairman of the Senate Judiciary Committee, said in a statement.

And let me remind you that, once upon a time, that worthless Leahy was one of those senators who "publicly support[ed] Edmonds and [ . . . ] pushed the Justice Department to declassify at least some of its investigation into her dismissal."

Now that's all change you can believe in!

Let me also add that Gordon Taylor has an updated post on Noah's ark and Cudi Dağı that makes for very interesting reading, so go have a look.


Anonymous said...

Chomsky on financial crisis:

Mizgîn said...

Thanks for the link, Berfo.

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