WHAT’S NEXT: Doing The Global Currency Shuffle

By Brandon Smith
Alt Market 
July 18, 2011

In mainstream financial circles, the concept of a global currency is often spoken of only with an atmosphere of caution. It is approached always in hypothetical terms. It is whispered of as some far off dream; a socio-economic moon landing in the far reaches of fiscal space.

Perhaps in 2015, or 2020, or maybe 2050, but certainly never just over the horizon, or right around the corner posing as an innocuous trade asset created over 40 years ago and used only on rare occasions. Unfortunately, the development of a centralized global security representing the creation of a supranational economic body is much closer than many would care to admit…

ONE WORLD MONEY: What is the next world reserve currency?

The most common argument made in the mainstream against a global currency taking shape is the argument that no other currency in the world today has the strength or widespread circulation necessary to replace the dollar as a primary reserve unit. This is true, if, you only look at separate currencies, and not the big picture. The reality is, central banks and the IMF have no intention of replacing one national currency with yet another national currency as the world reserve. What they DO intend to do, however, is replace the dollar with a basket of national currencies linked together and homogenized under a single unit. This has been openly announced by the IMF for months, and Dominique Strauss-Kahn even produced a press release explaining the plan (this was before he apparently watched ‘Maid in Manhattan’ 57 times in a row then allegedly tried to “romance” a cleaning lady, which of course landed him in court):

http://www.imf.org/external/np/speeches/2011/021011.htm

The G20 has also raised discussion of a global currency and a greater oversight role for the IMF on a number of occasions:

http://www.themoscowtimes.com/business/article/at-g20-kremlin-to-pitch-new-currency/375364.html

http://www.asianews.it/news-en/Sarkozy-in-favour-of-an-international-currency-of-reference-21179.html

A more in-depth look at the IMF plan for the SDR can be seen in a white paper released at the beginning of this year entitled “Enhancing International Monetary Stability – A Role For The SDR?”:

http://www.imf.org/external/np/pp/eng/2011/010711.pdf

A global currency, or at least the foundation for one, already exists in the form of “Special Drawing Rights” (SDR’s), created by the IMF in 1969 as paper collateral used to replace gold as the primary means of international trade between governments and central banks without the need for Forex exchanges. That is to say, the SDR was used as a tool for displacing the strength of gold. Today, the asset has morphed into a trade mechanism representing a basket of currencies, and, a tool to displace the U.S. dollar as the world reserve currency.

Skeptics will argue that the SDR is a “long way” from being ready to unseat the dollar, but, these economists and pundits rarely consider that the financial circumstances of markets today could quickly change tomorrow. Yes, by the standards of this very moment, a move to elevate the SDR to reserve status is impractical, mainly, because the dollar is still clinging to its relative value and widespread use. This will not be the case for much longer.

Over the past month, the “big three” ratings agencies; Moody’s, Fitch, and S&P, have suddenly decided to do the job they should have been doing years ago, and have begun a wild roller coaster ride of credit downgrades for countries with immense Debt-to-GDP ratios. Greece has been junked. Ireland has been junked. Portugal has been hit. Spain has been hit, and is ready for yet another downgrade. Italy is on the chopping block. Finally, even the U.S. is near losing its AAA status as S&P has announced it will decide within the next month whether a downgrade of our rating will soon be necessary.

The most important aspect of the S&P announcement is their statement that the downgrade is NOT about the impending debt ceiling decision, but America’s overall creditworthiness and our lack of ability to maintain our current spending and inflationary habits. That is to say, even if the debt ceiling is raised, as all the Keynesians are clamoring for, we could still lose our top credit rating:

http://market-ticker.org/akcs-www?singlepost=2623832

This storm of downgrades after years of inaction by ratings agencies, in my view, is simply not a coincidence. The fact that Ben Bernanke has admitted that QE3 is on the table as well after the Fed denied any need for more stimulus only two months ago is also highly suspicious (though he tried to take back the statement later after a thorough grilling from Ron Paul):

http://www.businessinsider.com/black-and-white-and-red-all-over-2011-7

The bottom line is that if the ceiling is raised, the Fed is ready to print the dollar into an early grave. If the ceiling is frozen in place, America defaults on its debts and its credit rating evaporates. Either way, the dollar will inevitably lose its world reserve status. Enter the SDR…

What we are witnessing is a careful and deliberate “shuffle” of economic circumstances towards a financial and political environment more receptive to a global currency. Or, indeed, a public so desperate for stability as to have no other choice but a global currency. Here are some of the steps that will likely take place and in certain cases must take place before the SDR is able to fulfill the role the IMF intends. Many of these steps are already being implemented as this is written:

1) The IMF Must Increase Circulation Of SDR’s

The normal restrictions on SDR printing were removed in 2008 by the IMF just as the credit crisis began to take shape under the guise of “producing more liquidity”. SDR’s can now be created in unlimited numbers. Allocations of SDR’s by IMF member countries leaped in 2008 to 2009. America’s holdings of SDR’s grew from 21 billion to 203 billion in the span of a single year:

http://www.imf.org/external/np/fin/tad/extsdr1.aspx

Using the “SDR Department”, the IMF has also been issuing SDR’s to emerging market countries and needy nations off the books, at the expense of the American taxpayer! Rich countries like the U.S. pay into the SDR Department program which is supposedly designed to redistribute “foreign aid” to poorer countries as low interest loans denominated in SDR’s. These loans show up nowhere on our Federal Budget:

http://www.house.gov/jec/imf/sdrdept.pdf

In 2004, the cost of paying into this program was around $5 Billion a year, but this has surely been expanded since. Finding accurate numbers on current U.S. loans through the hidden SDR Department program has proven difficult, to say the least…

The point of all this? The SDR is being widely circulated under various operations, some of them public, some of them not so public.

2) Standardized Exchange Tables For The SDR Must Be Put In Place

The IMF now releases daily conversion and exchange tables to SDR’s for almost every other currency on the planet:

http://www.imf.org/external/np/fin/data/rms_five.aspx

One important aspect of SDR conversion to take note of is that the currencies most highly valued on global forex markets, and the SDR table, are the Bahraini Dinar, and the Kuwaiti Dinar. The Bahraini Dinar is pegged directly to the SDR basket, while the Kuwaiti Dinar is pegged to “an undisclosed basket of currencies” (probably the SDR). The dollar, on the other hand, is relatively weak in comparison when converting to SDR’s, even though most of the IMF’s funding, and thus ability to create SDR’s, comes from the U.S.

Doesn’t seem fair, does it…?

Another important fact to remember is that the IMF admittedly sets the valuation of the SDR using factors outside of natural supply and demand. Meaning, they have the ability to place any value they please on the SDR versus other currencies. It is no surprise then that currencies which tie themselves to the IMF basket and placate IMF desires are rated strong in SDR’s, and perform well in forex markets, while the dollar, which remains (supposedly) independent, is weak versus SDR’s. Today, one dollar is worth 62 cents in SDR’s.

3) The SDR Must Be Made Indispensable To Global Markets

The IMF has openly suggested that the SDR could be used as an intermediary asset in volatile currency markets through what is sometimes referred to as a “Substitution Account”. Meaning, if China, for example, wished to dump their holdings of U.S. dollars because they are devaluing rapidly, they could exchange those dollars for SDR’s instead of directly converting them into another standard currency, like Euros, or Yen. This, according to the IMF, would lessen the direct damage to the Dollar, because the SDR is partly denominated in dollars. Therefore, as China throws out dollars in exchange for SDR’s, the value of the American Greenback goes down, but conversely, the value of America’s SDR holdings will go up.

This sounds like a brilliant strategy to offset sudden currency collapse. However, it is actually a very subversive way to slowly elevate the SDR as a world reserve currency itself, and to replace the dollar entirely, while the IMF plays the hero. It also allows the IMF to slowly “harmonize” all the world’s currencies until there is no distinction in their value. The SDR becomes a de facto reserve unit without officially overthrowing the dollar.

If the U.S. is faced with the nightmare of having its own currency dumped by international central banks, obviously, our Treasury would jump at the chance to support conversion to the SDR to lessen the damage, rather than face the full brunt of losing our reserve status. In fact, the U.S. would have NO CHOICE but to support the SDR and the IMF as the intermediary in all global financial transactions, otherwise, we would face certain long term full spectrum collapse. The only support holding up our financial system would then be our membership in the SDR basket. We would become completely dependent, and the IMF would have total centralized control over our economy.

What the IMF has done is create a potential environment in which any country that does not participate in SDR exchange will be left in the dust by every country that does. They have conjured an artificial economic matrix, where traditional laws of supply and demand no longer apply. A kind of “manipulated evolution” of finance. A chimera economy. They will have the power to determine the value of every currency on the planet arbitrarily using the SDR Substitution Account.

4) China Must Be Given Membership In The SDR

Right now, it appears, the only thing holding the SDR back from its debut as a global currency asset is the inclusion of emerging markets into the IMF basket. Talk of China joining the basket in 2015 has been floating around for the past couple years. However, I believe that the inclusion of the Chinese Yuan may come much faster than this.

New IMF Managing Director, Christine Lagarde, has offered China a greater role in the IMF power structure, including a post for Min Zhu, a Chinese national, as a deputy managing director:

http://www.reuters.com/article/2011/07/06/us-imf-lagarde-china-idUSTRE7655JM20110706

Lagarde and members of the G20 have also been pressing hard for the addition of the Yuan and perhaps other currencies into the SDR. A decision on Chinese inclusion may come as soon as this November:

http://www.emergingmarkets.org/Article/2818350/G20-presses-for-yuan-SDR-inclusion.html

http://english.capital.gr/News.asp?id=1163175

5) China Must Decouple Completely From The Dollar

One of the points of contention over Chinese inclusion in the SDR is its ties to the U.S. dollar and economy. That is to say, China would first have to decouple from the dollar, before coupling to the SDR. Its sounds like some weird parasitic experiment, and, it is.

China started taking steps to make decoupling from the U.S. and the dollar a reality back in 2005 (which suggests foreknowledge of collapse), when they began issuing Yuan denominated bonds (to circulate Yuan around the world), and, when they began converting away from an export based economy and towards a consumer based economy. The problem is that because of the wider circulation of Yuan, the increase in stimulus, and the Chinese refusal (so far) to allow faster currency appreciation, China is now in the midst of a double digit inflationary crisis (that’s REAL inflation folks, not fraudulent Chinese CPI numbers):

http://english.peopledaily.com.cn/90001/90776/90882/7432861.html

Because they have deliberately restructured towards a consumer based economy, eventually, China will have to allow the Yuan to increase substantially in value versus other currencies in order to amplify the buying power of its citizens. Otherwise, they will be crushed under the weight of rising prices:

http://www.reuters.com/article/2011/06/26/us-britain-china-idUSTRE75P1V120110626

This cannot be done without a considerable dump of their forex reserves and treasury holdings, most of which are composed of U.S. dollars and securities. This means that in order to counter inflation, and to be included in the SDR, China will have to liquidate a large portion of its U.S. holdings. This would strike the American economy hard.

6) The Dollar Must Be Removed As The World Reserve Currency

All of the above factors are leading towards one obvious conclusion; the end of the dollar as a reserve currency. The IMF will never achieve its goal of complete centralized administration of the global economy without a common supranational currency unit. And, a supranational currency unit cannot exist while the dollar remains in its current position. Thus, for the IMF to succeed, the dollar must be removed.

The expansive debt of the U.S., the endless fiat printing of the Federal Reserve, the Chinese adaptation away from the dollar and towards the SDR, and the quiet spread of the SDR itself, are all leading to this end. This does not mean, though, that the tangible version of the dollar will disappear. The interesting thing about the SDR con game is that many Americans may barely notice the transition of the global economy into IMF hands, because physical dollars will likely remain. We might feel the heartache of a devaluing monetary system, and an extremely weakened economy, but the flow of power will be obscured for a time from those who are unaware. In the end, all currencies will be tied to and completely reliant on the SDR, but our Greenback funny money will still be in our pockets. The issuance of an “SDR note” may come one day (if we allow this farce to continue), but it is not necessary. As long as every currency is required to be pegged to the SDR, the IMF will retain control.

A common assumption is that changes like these take place in some distant future we will never witness, not right under our noses while we sleep. The current evidence suggests, though, that an engineered transference to a highly condensed global economic system is underway right now, and that our country will suffer greatly in the process. To understand the tactically implemented disaster we are about to experience, it is vital to become aware of the intended end result. Just as in understanding any criminal act, it is vital to first understand a criminal’s ultimate motive.

GREEN INDUSTRIES? WHAT A JOKE. JUST LISTEN TO THE SAD BALLAD OF MR STAN OVSHINSKY

By Patrick Henningsen
21st Century Wire
June 20, 2011

As oil is positioned to surge again this summer, intelligent and informed members of society will want to reconsider our crack-like addiction to this black gold which seems to drive the price of everything, along with all major wars, famines and other world events.

We can take a look back to yesterday, 1996 to be exact, and revisit the killing of the electric car by the now defunct General Motors (GM). This was an important link in a chain of events that has placed us where we are today, and in the same boat we were back in 1978.

As a social-consumer group, Americans will believe almost anything they hear from “official sources”. No matter how outrageous or unfounded a mainstream mantra may be, like sheep, they will almost always follow the larger flock, regardless of which way it may be  headed. In terms of consumer adoption in the 20th century, the litany of disinformation is endless and includes popular myths like:

• GMO’s are safe to grow and eat.
• Nuclear power is green and safe.
• Fluoride is good for you and helps fight tooth decay.
• Mercury in vaccines is not harmful.
• Battery technology hasn’t advanced enough to support an electric car industry.

Let’s look at that last one. Batteries just weren’t good enough to power cars and free households from dependence on oil companies, right?  Wrong. The battery problem had been largely solved and not just in theory, but even in 1990’s production. Then GM bought its way in as a condition for using US inventor Stan Ovshinsky’s battery in its cars. Through a legally dubious move,  it sold its share in the company to Chevron/Texaco. And now the battery is gone.

This move was made possible by a team comprised of  GM, Chevron/Texaco, and your elected and appointed career members of the US Federal Government, a move that undoubted pushed back the adoption of a mass electric car by a further 20 years or more.

But Washington’s impressive legacy of collusion and corruption doesn’t end there.

As far back as 1974, Vanguard-Sebring’s CitiCar mad its debut at the Electric Vehicle Symposium in Washington, D.C. It had a top speed of over 30 mph and a reliable warm-weather range of 40 miles. By 1975 the company was the sixth largest automaker in the U.S. but is dissolved only a few years later. Two years later in 1976, the US Congress had passes the Electric and Hybrid Vehicle Research, Development, and Demonstration Act. The law was passed in order to help spur the development  of new technologies like batteries, motors, and other hybrid-electric components. It also passed because the public will was there and innovators were ready to run with it. Sadly, Federal career-oriented politicians were not up to the task, running the risk of ruining their chances to serve on the boards of these same major industry players.

An Auto-Oil-Fed pincer move was then applied in order to bury all renewable technology trends in 1980 when Washington, under Reagan’s watch, sunk a growing popular national movement towards renewable energy research, development and commercialisation, pushing the electric car back another 20 years.

Prior to that, numerous engineers in the US, Canada and Europe had indeed developed combustion engine prototypes that exceeded 100 miles to the gallon or more, as far back as WWII. Still today, motor industry touts cars that get 30 miles per gallon as “economical” and “fuel efficient”. The famous 200 MPG Pogue Carburetor was just one example of these.

Prior to WWII, clear back to the 1920’s, the electric car was neck and neck with the gasoline-gusselling combustion engine cars. But the gas monsters eventually won way back then. Not much has changed up until today.

Again, we hear that Sad Ballad of the corporate monopolists’ victim, Stan Ovshinsky and his car battery in 1996, we can only look back and wonder, “what if”…

 GM and Chevron colluded to kill progress, namely Ovshinsky’s advances in electric car battery technology.

 EV1 vs the Hummer: thanks to Federal government interference in the market, he Hummer won.

  How the Federal Government bends to the will of certain corporations.

Mary Burgess wrote on the dawn of GM’s bankruptcy debacle:

“In the documentary Wally E. Rippel, a research engineer, points out that there is still about a trillion barrels of oil in the earth. “At $100 a barrel, that’s $100 trillion of business left in the ground”. The fat cat oil companies have so much to gain from prohibiting new technologies from taking over our current consumption of oil and gas, and they have the power to make it happen. Their pressure on the government, and the car companies, including GM, ensured that the EV1 would not survive. Under these pressures GM chose the gas gusseling Hummer over the EV1. Ironically now, GM owes over $1 million for every Hummer on the road.”

The timing of Obama’s Federalist hacking of GM was uncanny to say the least. The irony here for the clueless American voter is that many Democrats saw their Messiah as a “Green” President, and a champion for Mother Earth. The reality of course, is nothing like that. He is just another CEO on the payroll of his corporate board. Burgess continued:

“General Motors dropped from DOW today as it filled for bankruptcy this morning. The Obama administration is to purchase the remains of the suffering company for $30 billion, with the Canadian government chipping in an additional 9.5 billion for the Canadian branch of the company. Together the two governments and the remaining GM staffers will have an arduous task of restructuring the giant company in to a leaner organization in the hopes that it can again rise to be a profitable employer to thousands.

Almost prophetically the documentary Who Killed the Electric Car? was broadcast on TV the night before GM officially filled for bankruptcy. The documentary details the story of the EV1, GM’s electric car that was released in 1996… They didn’t let people buy the EV1, leasing was the only option to procure the vehicle. They even put A-list celebrities such as Mel Gibson through lengthy questionnaires prior to letting them lease an EV1. in 1999 when GM stopped production of the EV1, they pulled all of the EV1s on the road and destroyed them, an action that was made possible by their lease only policy…

GM put an inferior battery in the first edition of the EV1, even though they owned a controlling interest in a company that had a patent for a  far superior battery invented by Stan Oshinsky . Sadly GM only released 200 second generation EV1’s that included the superior battery, and later GM sold it’s shares to Chevron/Texaco who were free to suppress the innovative technology.”

So this a clear, defined history of collusion between the three main players in the energy game: manufacturers, oil companies and, of course (the one we always forget to mention), your altruistic Federal Government. In this world, trends are not allowed to develop and history is diverted to an alternative reality, one which we find ourselves still on today.

THE TESLA CAR: A hint at what electric cars could be offering today had the technology been allowed to develop freely.

Still, naive voters, activists, and green crusaders harp on about energy policy and tax hikes on fuel, as if it were the only way to reach a cleaner, more efficient future. They speak of man-made global warming and climate change as if its something real, and not a psuedo-science invented and promoted by politicians and career charlatans like Al Gore, Maurice Strong and John P. Holdren. The reality is that its nothing more than another trillion dollar rent-seeking, corporate pyramid scam designed to enrich its elite circle of crafty progenitors.

The problem my dear Watson, is right there in front of your nose. It’s an age-old problem. The elephant in the front room that Americans, particularly for those self-professed “Liberals” in this society. The weak-minded and castrated members of your Federal government have time and time again interfered with the true free market and the natural progression of innovation in technology, in order to fix the game for their biggest corporate donors and their bookies on Wall Street, who in turn will secure the financial future of their federal government legislative fixers.

As the solar industry struggles to be born again, with the help of Ovshinsky’s latest battery technology, the Sad Ballad of Stan Ovshinsky plays on in the background.

It’s not just a song now, it symbolises a bona fide crime against humanity that deserves the most swift and harsh execution of justice.

Green industries? What a laugh. Not until we grow a pair. Until then, the only green industry is in the bill-clip.

–

LIBYA: NEW THEATRES OF CONFLICT INCREASES RISK OF MULTI-REGIONAL WORLD WAR

By Patrick Henningsen
21st Century Wire
April 26, 2011

With the addition of Libya to the US and NATO’s regional conflict portfolio, our world is currently host to more wars and forced occupations than at any other time in history. Given its current trajectory, you only have to sit back and wait for that illusive match that could ignite another full-blown world war.

Events in Libya are not exclusive to the military theatre. There is a geopolitical and economic chess match at play between the West and China in a battle for Africa and with it, the largest basket of natural resources on Earth.

In Libya we are witnessing what could be described as a New Cold War between the West and China, but from its early stages we can see that this war is hardly a cold one. It’s a hot war, one which might very well threaten the delicate stability that remains between the major economic and military powers across multiple global regions.

 Patrick Henningsen on Russia Today explaining the basis of a “New Cold War” between China and the West.

Mostly under the media radar, the US has already outlined its strategic agenda through the formation of AFRICOM, a subset of the infamous neo-conservative Project for a New American Century(PNAC). Central to AFRICOM’s strategic goals is to confront the increasing Chinese influence on the continent.

Strong strategic and economic links already exist between Russia, Pakistan, Iran and China, and NATO military actions are already coming into direct conflict with these relationships. Led by the US and Britain, NATO is currently being deployed like an international hit squad in order to secure territories and resources which carry a high transnational corporate value.

The use of NATO in these far-flung regions has taken it far away from its original charter to preserve peace and stability along the old front-line between the now defunct USSR and the US-European alliance. The use of NATO in these regions, however, is further proof that its old cold war function is still active, the old chess pieces are still in play and its Western directors are not hiding this fact at all.

Obama presiding over new wars

In late 2007 and early 2008, Americans and fawning fans around the globe bought into a much different picture altogether. The election of US President Barrack Obama had convinced masses worldwide that those dark days were behind them; he promised them he would close America’s off-shore military concentration camp in Guantanamo Bay, pull the troops out of Iraq, reignite the fabled “peace process” between Israel and Palestine, and focus on more pressing economic matters at home.

Much to the surprise of his loyal devotees, just the opposite transpired; aided by his unlikely pro-war Secretary of State Hilary Clinton, we have seen an expansion of military troops overseas, the addition of Pakistan as a theatre of conflict, the activation of military tribunals to fabricate convictions of innocent detainees in Guantanamo, no mention of Israel, and the launch of a new undeclared illegal war in Libya. Even his greatest fans have been left scratching their heads over how the West could get it so wrong. How could this once celebrated man of the people, the first man of colour in the White House, the young turk, the reformer- steer his flock into such a pattern of geopolitical digression?

THE HAWKISH DOVE: The irony of Obama is that he may be credited with propelling the West into a WWIII disaster.

Ironically, Barrack Obama was given his Nobel Peace Prize only two months after being in office, a bizarre move by the Nobel Prize Committee. ”Obama has now fired more cruise missiles than all other Nobel Peace prize winners combined”, not a good line on the resume of a dove. He’s now joined the ranks of Henry Kissinger and other notable mass bombers. At this point, there appears to be little chance for redemption.

The Resource Wars

Despite the utopian projections by the ranks of neo-liberal globalist disciples, cadres of nations and trading alliances have formed since 2000. BRICS, MENA, and LATIN AMERICAN emerging economic blocks are challenging the pre-eminence of the traditional Anglo-American and European dominion over the global markets and cultural monopolies. Oil, gas, uranium and water feature prominently in this realignment of the global chessboard, and with each additional military theatre comes an additional risk of a multi-regional war. For decades this premonition has been known commonly as World War III.  Such a new war will most certainly be fought around one singular issue… natural resources.

The capture and control of the world’s remaining resources and energy supplies will be the theme which will govern and literally fuel all major conflicts in the 21st century. This pattern has already begun with the First Gulf War in 1991, leading to the West’s complete control of energy lines in Afghanistan and Iraq from 2001 onwards, and again to the current resource grab we are currently witnessing in Libya.

  A comprehensive video analysis of how a World War III scenario would likely unfold.

The Nuclear Risk

Hawks, think-tankers and arm chair cheerleaders in countries like the US and Britain may be convinced that in the event of a Third World War they will most certainly be on the winning side because the military and nuclear scales are weighing heavily in their favour.  What these hawks do not consider is that the one risk which trumps all other concerns in this scenario is just that: the use of nuclear weapons. It is very likely that any version of a Third World War will almost certainly feature the use of thermo-nuclear bombs and missiles.

Confident hawks should be reminded that the risks of escalation in a two-way or a three-way shooting match will result in a massive loss of innocent lives and certain permanent environmental damage on a very large scale. Large stocks of valuable and relatively finite resources including energy, food, fish  and water supplies will be rendered useless and inaccessible for many generations. In addition, nuclear fall-out will have an environmental knock-on effect globally. In short, even a regional nuclear conflict will have catastrophic consequences both in and outside of the conflict zones. Few can disagree that this is one genie which should not be allowed out of the bottle again.

Depleted Uranium

Nuclear weapons have already been introduced into the conflict zone. The use of illegal and highly dangerous Depleted Uranium (DU) munitions by the US, Europe and Israel has featured widely in their respective war theatres. US and NATO forces used DU penetrator rounds in the 1991 Gulf War, the Bosnia war, bombing of Serbia, and the 2003 invasion of Iraq.  

DU essentially amounts to recycled nuclear waste, repackaged for profit into a highly lethal and toxic ammunition for use on the battlefield- and it’s been around for years. While clearing a decades-old Hawaii firing range in 2005, workers found depleted uranium fins from training rounds from the formerly classified Davy Crockett recoilless gun tactical battlefield nuclear delivery system from the 1960-70s. These same training rounds were used in a highly classified program and had been fired before DU had become an item of interest, more than 20 years before the Gulf War:

“The Sub-Commission on Prevention of Discrimination and Protection of Minorities of the United Nations Human Rights Commission, passed two motions —  the first in 1996 and the second in 1997. They listed weapons of mass destruction, or weapons with indiscriminate effect, or of a nature to cause superfluous injury or unnecessary suffering and urged all states to curb the production and the spread of such weapons. Included in the list was weaponry containing depleted uranium.”

DU: The US and NATO continue to use Depleted Uranium rounds, Libya is the latest environmental victim.

With a minimum half-life of 400,000 years, lethal radioactive DU dust has already spread over the Middle East region and beyond. Despite international efforts to ban its use, it appears that the US and its allies are determined to use it on its foreign victims… indefinitely.

Role of Domestic Bystander

On the domestic front, elites still need to prime the public for their participation in these new 21st century wars. The theme of “terrorism” and “domestic terror” will continue to occupy a prime place in our domestic conversation, ensuring a state of permanent domestic war which is currently being administered by a rapidly growing Police and Surveillance State, particularly in the US and the UK. The rapid advance of the domestic Police State in these two countries could be an indication that they may very well form one side of any impending global conflict.

It’s also a certainty that more young men and women from these same Western nations will be asked to replenish the dwindling ranks of soldiers to be stationed in legions overseas, as well as for domestic service in forming standing armies at home. And here is where the rubber actually meets the road: citizens who still consider themselves free should seriously consider for what reasons and for whose interest they are putting on their uniform… and ask why they will asked to point their guns at foreign citizens and citizens at home.

We are currently in the early stages of what appears to be a global escalation phase and it is anyone’s guess how this chess game will unfold in the immediate future. However, taking long-term trends and the colonial behaviour patterns of certain North American and European countries into account, it is almost certain that the battle for finite resources, the preservation of corporate monopolies and the dominance of a single global currency will force a confrontation between old and emerging economic blocks.

Your individual role in such an unstable future is up to you. Depending on your level of education and awareness, you will either play a role in stemming the tide of war, or contributing to it. Unfortunately, in this case, staying on the fence will likely place you in the latter category.

–

Author Patrick Henningsen is a writer and communications consultant and currently the Managing Editor of 21^st Century Wire.

GLOBALIST TARGET: Central Bank of Libya is 100% State Owned

By Eric V. Encina
21st Century Wire
March 28, 2011

One seldom mentioned fact by western politicians and media pundits: the Central Bank of Libya is 100% State Owned. The world’s globalist financiers and market manipulators do not like it  and would continue to their on-going effort to dethrone Muammar Muhammad al-Gaddafi, bringing an end to Libya as independent nation.

Currently, the Libyan government creates its own money, the  Libyan Dinar,  through the facilities of its own central bank. Few can argue that Libya is a sovereign nation with its own great resources, able to sustain its own economic destiny. One major problem for globalist banking cartels is that in order to do business with Libya, they must go through the Libyan Central Bank and its national currency, a place where they have absolutely zero dominion or power-broking ability.  Hence, taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda for absorbing Libya into its hive of compliant nations.

When the smoke eventually clears from all the cruise missiles and cluster bombs, you will see the Allied reformers move in to reform Libya’s monetary system, pumping it full of worthless dollars, priming it for a series of chaotic inflationary cycles.

GLOBALIST TARGET: The Central Bank of Libya offices in Tripoli.

The CBL is currently a 100% state owned entity and represents the monetary authority in The Great Socialist People’s Libyan Arab Jamahiriya. The financial structure and general operation procedures of a state bank is of course much different than that of an American or European based central bank. Form starters it is not privately owned, for-profit bank with a undisclosed list of private shareholders like the US Federal Reserve and the Bank of England are. Libyan constitutional law establishing the CBL stipulates that its central bank maintains monetary stability in Libya and promotes sustained growth of its national economy. Libya also holds more bullion as a proportion of gross domestic product than any country except Lebanon, according to the London-based World Gold Council using January data from the International Monetary Fund. The value of gold is based on the March 25 close of $1,429.74 an ounce.

Will this gold remain in Libya once Allied forces have taken control of Tripoli, or will it lost, or exchanged for pallets upon pallets of paper aka US dollars?

FOLDING LIBYA INTO THE NEW WORLD ORDER

In the Libyan banking charter, one of the primary mandates will be that it is regulating the quantity, quality and cost of credit to meet the requirements of economic growth and monetary stability. This of course, is the very opposite role which privately owned central banks play elsewhere in the world. Private central banks elsewhere create inflation, periodically inflating bubbles by design and then popping them in order to transfer large sums of wealth out of lower and middle class hands and into the hands of the financial elites.

It is becoming easy to diagnose the very root-causes of chaos in the Middle East and the ongoing war-attacks against Libya. Finance, oil, militarization & imperialism, globalization- all of these comprise a running agenda for the New World Order. Egypt and Tunisia have both fallen to interim military dictatorships and have been hooked with billions in cheap loans from the European Bank for Reconstruction and Development (EBRD) and the World Bank.

Any country or nation that is running against the grain of this agenda- going against the orthodoxies of the New World Order, will eventually be flagged and brought to heal by way of military hammer. Regular acts of war against these non-globalist nation states are designed to humiliate, degrade and compromise international human rights- a condition that has become embarrassing to the world at large.

CANADIAN PUPPET DESIGNATED AS LEADER FOR NATO’S LIBYAN OPERATION

Most observers would claim that Canada is neutral in the Libyan conflict. But on this occasion, it’s been the consensus of the world axis of greedy powers that Canada will be running the front-of-house for their intervention in Libya’s civil chaos. With respect to Honourable Canadian leaders and officials, Canada’s participation in this particular war and in the cover-up for Obama in Libya is too adroit for the sake of profits and taking over resources in that particular region of the world.

“Canadian Defense Minister Peter MacKay said Friday that Lt. General Charles Bouchard has been designated to lead the alliance’s military campaign in Libya. (Yahoo News, March 25, 2011).  “Bouchard is stationed in Naples, Italy, at the Allied Joint Force Command. Bouchard’s recent job was deputy commander of NORAD, reporting to an American general. MacKay adds here, “He will be commander of the NATO operations, yet to be fully defined NATO operations”.

NATO'S FALL GUY: Lt. Canadian General Charles Bouchard will be running the Libyan shop floor for the US, UK and France.

Here is another challenge for the Canadian people. Another repercussion is that the Canadian budget will also be leached by such participations as the national Bank of Canada is also based on debt finance. If Canada,  in not too distant future, would continue to participate in war(s), it would then become  a fully fledged globalist war-nation, joining the likes of the USA and the UK.

One wonders what will become a world that is at perpetually at war with itself? Why build wealth only to have it destroyed by wars? Why collect more taxes, spend and wantonly waste state revenue, create money out of nothing at the point of usury, and lend and/or borrow money at interest that disastrously piles up national debt at sky-rocketing rates? We see the results time and time again: the economy collapse, creation of poverty, and the continuing finance of weapons’ manufacturing, arms sales and the most technologically sophisticated wars in history that cause the most unimaginable devastations and irreparable damages to human lives and nations.

If the Western based foreign policies continued to be war-based, bent on controlling the world’s resources, there seems to be no worse future  for mankind.

  One big reason for the Western assault on Libya: Libya owns and issues its own money.

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Author Eric V. Encina is based in the Philippines and works as an activist and social reformer. He is also an advocate of Social Credit.

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