Cathereine Austion Fitts on the G20 & Life in the New World Order

[truedelphi]

WHole statement is here: http://solari.com/blog/?p=1823

Fitts:
The Editor of Expresso in Portugal wanted my take on the recent G-20 communique. Here is my “translation” of the official statement:

1. Now that the growth of debt and derivatives bubbles has stalled, we are committed to using governmental-central bank mechanisms to cover the positions of any of the large private financial institutions whose profits are at risk due to their management of these bubbles and who can use this opportunity to squeeze and acquire smaller rivals at low cost.

2. Our commitment to use derivatives and market interventions to shift investment from the real economy and commodities into a paper economy is firm. We will continue to use centralized governmental mechanisms to subsidize and manage this process.


3. All of the organizations and players who reaped a fortune engineering the debt and derivatives bubbles will be allowed to keep their winnings.

4. We will use this period of consolidation to further centralize the global financial system by enforcing greater centralization of the standards, practices and control of enforcement and regulatory bureaucracies. This increased governmental centralization will be presented as the “fix” for our “problems.”
###

Personal note - I had the pleasure of meeting Mr Armitage (A perpetual participant, along with Holbrooke, at all G 8 Summits) in Sausalito CA when he complained about a booth that I and my friend T were chairing regarding Health Care for All and also the local hospital situation. Armitage had the grocery store owner make us leave.

[JDPriestly]

1. Now just what was Armitage's role in the Plame matter?

And in how many other awful activities has Armitage involved himself over the years? He makes me think of a pesky mosquito. Constantly where he shouldn't be, doing what he shouldn't do and never giving any peace. He always seems to get by with what he does. Wonder how he ever became so important and ubiquitous. Never seems to draw much heat.

[truedelphi]

2. Corn and Isikoff give him "credit" for the leak

In their book.

Armitage and Holbrooke have been noted as being the duo that originally visited Milosevic of Serbia and let him know that any actions he needed to undertake for the sovereignity of his country would be okay with the government of the USA. They did this back when Bush I was in office.

It troubles me greatly that Obama is having Holbrooke serve in his administration.

[peacetalksforall]

3. Well, I will be a follower of Catherine. I want to know more. Everything said

conforms with my position which I thought I arrived at by deductions and leads.

We face a terrorist operation against the little people - it's a monetary, police controlled, propaganda war - carried out with ruthless and abysmal crimes. It is void of humanity.

What is it's name?

[truedelphi]

4. Fitts used top be a republican. She worked at a high level

Inside the Bush the Elder's reign.

And she discovered a HUGE AMOUNT of money was missing, possibly inside one of the Pentagon's programs (It's been a while since i heard her address this part of her past.)

I don't know if she is a full fledged Democrat, or if she is an indie, but she defintiely has refuted being a Repug. And what I love about her theories is that most are based on common sense - you have to have jobs, you have to have goods being produced inside a nation, for there to be a real economy.

And that is almost considered "radical" thinking, these days.

[Hawkowl]

5. Grim

I agree with her assesment and the very grim part of it is that this attitude among the G20 will guarantee a prolonged, deep, depression. Eventually, governments will be forced to start siezing some of these financial institutions profits and divert them into real jobs making stuff. This is going to be one long 4 years.

[truedelphi]

6. In Hong Kong, where you can now pick up a slightly used

Mercedes Benz for around $ 16K (original price - over $ 80 K) they are describing the "Recession" as one with a "U" shaped trough - that is, the bottom of the Bell Curve will take about three to four years to work out, before their economy will rise.

I am afraid it might be worse than that here. I am hoping that I am wrong.