Courtesy of the Samizdat Blog, which also contains such refreshing delights as the reference to the Kafka Sutra.
Thursday, October 4, 2007
Poetry in War
When Yellow Ribbons and Flag-Waving Aren't Enough
An ex-soldier's take on recent war poetry
Wednesday, October 3, 2007
Dillon Read And The Aristocracy Of Stock Profits
Catherine Austin Fitts' Mapping the Real Deal
A Serialised Story - Part 1 of 20 (publishing August/September 2007)
"... With this in mind, I decided to write “Dillon Read & Co Inc. and the Aristocracy of Stock Profits” as a case study designed to help illuminate the deeper system. It details the story of two teams with two competing visions for America. The first was a vision shared by my old firm on Wall Street — Dillon Read — and the Clinton Administration with the full support of a bipartisan Congress. In this vision, America's aristocracy makes money by ensnaring our youth in a pincer movement of drugs and prisons and wins middle class support for these policies through a steady and growing stream of government funding and contracts for War on Drugs activities at federal, state and local levels. This consensus is made all the more powerful by the gush of growing debt and derivatives used to bubble the housing and mortgage markets, manipulate the stock and precious metals markets and finance trillions missing from the US government in the largest pump and dump in history — the pump and dump of the entire American economy. This is more than a process designed to wipe out the middle class. This is genocide — a much more subtle and lethal version than ever before perpetrated by the scoundrels of our history texts.
This case study provides a detailed example of the financial kickback machinery that makes the process go. It works something like this. A group of executives and investors start a company. Rather than build a business the old fashioned way, company profits are pumped up with government legislation, contracts, regulation, financing, subsidies and/or enforcement. This dramatically increases the value of the company's financial equity. The company and its initial investors then sell their stock at a profit. Such profits replenish contributions made to the kind of politicians who can arrange such government benefits. Such profits also fund philanthropy to foundations and universities that have large endowments that invest along side the investors. These tax-exempt organizations provide graduates to staff positions in the game, intellectual justification to attract popular support and photo opportunities which bestow legitimacy and social stature. Personnel cycle through the management and boards of business, government and academia, as real productivity falls and government deficits grow.
The second vision was shared by my investment bank in Washington — The Hamilton Securities Group — and a small group of excellent government civil servants and appointees who believed in the power of education, hard work and a new partnership between people, land and technology. This vision would allow us to pay down public and private debt and create new business, infrastructure and equity. We believed that new times and new technologies called for a revival that would permit decentralized efforts to go to work on the hard challenges upon us — population, environment, resource management and the rapidly growing cultural gap between the most technologically proficient and the majority of people. We believed that private and public capital should flow to that which was most economically productive rather than be mixed in a complex cocktail of insider deals designed to hollow out the American economy and culture..."
[ full article ]
The Who's Your Daddy Nation
Editor’s Note: The bullying con game that passes for Establishment power in the United States appears finally to be reaching a painful end point, even though few Americans have a clear idea about what can be done to start setting matters right.
In this guest essay, poet Phil Rockstroh looks at the extraordinary challenge facing a people who have traded their birthright as citizens of a Republic for the faux security of a "who's your daddy" nation:
"We must become the change we want to see."
-- Mahatma Gandhi
"In any case, I hate all Iranians."
--Debra Cagan, Deputy Assistant Secretary to Defense Secretary, Robert Gates
How many times do we, the people of the U.S., have to go around on this queasy-making merry-go-round of propaganda and militarism before we shout -- enough! -- then shutdown the whole cut-rate carnival and run the scheming carnies who operate it out of town?
It is imperative the nation's citizens begin to apprehend the patterns present in this ceaseless cycle of official deceit and collective pathology. This republic, or any other, cannot survive, inhabited by a populace with such a slow learning curve.
Over the last three decades, the authoritarian right has risen to create the nation they have been longing for since their humbling by the Watergate scandal.
After being subdued and humiliated by the mechanisms of a free republic, the Right has turned the tables -- and subdued and humiliated the republic. If the trend continues, all but unchallenged and unabated, we might as well replace the torch held aloft by Lady Liberty with a taser.
How could it come to this? How did so many U.S. citizens grow so apathetic, oblivious, if not flat-out hostile to the tenets of a free republic?
The authoritarianism inherent to the structure of multi-conglomerate corporatism is antithetical to the concept of the rights and liberties of the individual. Most individuals -- bound by a corporation's secrecy-prone, hierarchical values -- will, over time, lose the ability to display free thinking, engage in civic discourse, and even be able to envisage the notion of freedom....
[ Read on ]
FTW: 'Most Interesting Hypothesis To Date on Motives for Iraq Invasion'
Picked up by FTW's Peak Oil Blog:
Peak Oil, Missing Oil Meters and an Inactive Pipeline: The Real Reason for the Invasion of Iraq?
By Paul Cherufka
In this article I will present research that supports a rather startling hypothesis: that the USA invaded Iraq primarily to enable the secret diversion of a portion of Iraq’s oil production to Saudi Arabia. This was done in order to disguise the fact that Saudi Arabia’s oil output has peaked, and may be in permanent decline. The evidence for this conclusion is circumstantial, but it does knit up many of the loose threads in the mystery of the American administration’s motivation for invasion.
To lay the groundwork we need to set out a couple of assumptions.
The primary assumption is that the world’s oil production has been on a plateau for the last two years, and in fact we may be teetering on the brink of the production decline predicted by the Peak Oil theory. Such a decline could be dangerous to the world economy, both directly through the loss of economic capacity and indirectly (and perhaps more importantly) through the loss of investor confidence in the global economic structure.
The primary assumption is that the world’s oil production has been on a plateau for the last two years, and in fact we may be teetering on the brink of the production decline predicted by the Peak Oil theory. Such a decline could be dangerous to the world economy, both directly through the loss of economic capacity and indirectly (and perhaps more importantly) through the loss of investor confidence in the global economic structure.
The second assumption is that the oil production of Saudi Arabia is key to maintaining the global oil supply. Saudi Arabia supplies over 10% of the world’s crude oil, with over half of that coming from one enormous field named Ghawar. There is a large and well-informed body of opinion that believes that if Saudi oil production goes into decline the world will follow because there is not the spare capacity anywhere else to make up for such a decline. Saudi Arabia is notoriously tight-lipped about the state of their oil fields, and in fact oil production information is considered to be a state secret. The only trustworthy information the world really has about Saudi Arabia’s oil are their aggregated production figures.
The conclusion that can be drawn from these two assumptions is that if Saudi Arabia’s production began to decline and the world found out about it, there would be a significant risk of a world-wide economic panic that would destabilize markets and throw nations like the USA into a recession or depression that would be worse than the actual damage done by the loss of the oil. We can assume that the prevention or postponement of such a crisis would be an extremely high priority for the administrations of both the USA and Saudi Arabia....
[ full article ]
The conclusion that can be drawn from these two assumptions is that if Saudi Arabia’s production began to decline and the world found out about it, there would be a significant risk of a world-wide economic panic that would destabilize markets and throw nations like the USA into a recession or depression that would be worse than the actual damage done by the loss of the oil. We can assume that the prevention or postponement of such a crisis would be an extremely high priority for the administrations of both the USA and Saudi Arabia....
[ full article ]
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