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Findings & Forecasts 05/15/2013

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Economy

With three con­cur­rent and major gov­ern­ment scan­dals filling the media, very few people will pay atten­tion or care about the eco­nomic con­ta­gion spreading throughout Europe, but they should.

One cer­tain out­come of Obama’s chaotic Admin­is­tra­tion is grid­lock. With Con­gress on the warpath, every bureau­crat at every level will be in hiding so as to not draw atten­tion to them­selves. This means even less focus on the economy, spending, jobs, etc. Con­gress itself will be con­sumed with end­less hear­ings and inves­ti­ga­tions while cor­po­rate and glob­alist lob­by­ists (unac­count­able to public pres­sure) will push trade un-vetted leg­is­la­tion through right under our nose.

Obama’s former Chief of Staff, Rahm Emanuel wasn’t the first person to sug­gest “Never let a good crisis to go waste.”  Hillary and Bill Clinton both said it. Tri­lat­eral Com­mis­sioners Henry Kissinger and Zbig­niew Brzezinski were prob­ably the first in modern his­tory to ver­balize it. The point is, it’s not a new idea. It is a cen­tral theme in the glob­alist play­book and his­tory bears it out: “Ordo ab Chao” — Order from Chaos.

Between Two Ages

Zbig­niew Brzezinski wrote,

“How­ever crudely and prim­i­tively, man has always sought to crys­tal­lize some orga­nizing prin­ciple that would, by cre­ating order out of chaos, relate him to the uni­verse and help define his place in it.” (Between Two Ages: America’s Role in the Tech­netronic Era, p. 31)

Indeed, chaos is viewed as oppor­tu­nity by the global elite and thus, America is ripe for wrenching change thanks to the chaos that is upon us.

So, it fig­ures that the 17th round of nego­ti­a­tions for the Trans Pacific Part­ner­ship (TPP) is set to start today (May 15) and run through May 24 — in Lima Peru. There are over 600 “stake­holders” who will meet with nego­tia­tors from the 12 nations on the Pacific Rim  (Aus­tralia, Brunei Darus­salam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Sin­ga­pore, United States, and Vietnam). These so-called stake­holders include mem­bers of acad­emia, NGO’s, labor unions, and global corporations.

It has been esti­mated that about 20 per­cent of the TPP has to do with actual trade issues. The other 80 per­cent has to do with binding reg­u­la­tions that will super­sede the laws of indi­vidual nations. Remember the damage that NAFTA (nego­ti­ated by George W. Bush and signed into law by Bill Clinton) caused in the inter­vening years.

Will anyone cover this round of TPP nego­ti­a­tions? Not likely. No doubt that many will be smiling in the absence of media scrutiny.

Another key trade agree­ment moving for­ward is the Trans-Atlantic Trade and Invest­ment Part­ner­ship (TTIP). Although just get­ting underway, the TTIP is expected to be the largest Free Trade Agree­ment in the his­tory of our country. Again, the trade por­tion will be much smaller than the non-trade issues that deal with reg­u­la­tions, nor­mal­iza­tion, legal dis­putes, tax­a­tion, etc.

As scandal-mania moves for­ward, Democ­rats are racing to dis­tance them­selves from Obama, hoping to pre­serve some stature in the upcoming midterm elec­tions in 2014. The odds increase daily that both the House and the Senate will gather a GOP majority and push the Democ­rats back into the minority position.

While con­ser­v­a­tives are already sali­vating over this pos­si­bility, they should be careful what they wish for, because the cham­pions of Free Trade and dis­as­trous trade agree­ment have mostly come from the GOP, not Democ­rats. In fact, the greater majority of Democ­rats have con­sis­tently voted against Free Trade deals that have hurt Amer­ican jobs and industries.

Thus, without a healthy per­centage of Democ­rats in the Senate and House, all of the upcoming Free Trade Agree­ments are vir­tu­ally guar­an­teed to pass with what­ever sovereignty-robbing text that the “stake­holders” can stuff in.

But, back to Europe.

France has just slipped back into reces­sion as their economy shrunk by 0.2 per­cent in Q1 2013.

The reces­sion across the 17 member euro­zone has now entered its sixth quarter, the longest reces­sion since the union con­gealed in 1995. It is now obvious to all that Ger­many alone is unable to save any part of the euro­zone from GDP shrinkage. With their own growth rate stag­nating at 0.1 per­cent in the first quarter, they are per­ilously close to reces­sion themselves.

We can only hope that the depres­sion that is still raging in Greece does not become reality for the rest of Europe. It is now in its fifth year of eco­nomic decline, expecting a GDP con­trac­tion of 4.2 per­cent in 2013, while unem­ploy­ment con­tinues to soar. Overall unem­ploy­ment has risen to 27 per­cent but job­less youth has grown to an unbe­liev­able 64.2 per­cent! Yes, two out of three people between the ages of 15 and 24 are without work.

Mean­while, the Inter­na­tional Mon­e­tary Fund con­tinues to put the screws to Greece, demanding fur­ther tax reform and reduc­tion in public debt.

Italy is a country locked into polit­ical grid­lock, and it shows. Its economy will shrink around 1.8 per­cent in 2013 as unem­ploy­ment stays above 11.5 per­cent. Youth unem­ploy­ment rose to 36.3 per­cent in March.

GDP momentum in eurozone

The above chart sums up the rest of Europe by showing the momentum of GDP growth. Greece has lit­er­ally dropped off the chart. Por­tugal, Spain and Italy are grouped as the next worse per­formers. Fin­land and The Nether­lands com­prise a middle group. The top grouping con­sists of Ger­many, Aus­tria, Ire­land and Bel­gium. How­ever, note that except for Ger­many, the momentum on all these coun­tries is still down.

The largest country to the east, Russia, is tech­ni­cally in a reces­sion as its basic indus­tries have con­tracted for two quar­ters in a row. If Russia posts any growth this year, it will likely be under 1 percent.

British econ­o­mists are dis­puting among them­selves as to whether or not Eng­land had a double-dip reces­sion. They did, but after revi­sions to the 2012 num­bers were released, they didn’t. The Brits are famous for these kind of mean­ing­less debates. Unem­ploy­ment has risen to 7.9 per­cent while the rate of job­less youth stands at 20.7 percent.

The actual state of the euro­zone economy simply do not sup­port the polit­ical rhetoric and wishful thinking that we hear from the media. Europe is still a mess and there are no real signs of relief. Until coun­tries in Europe can shrink public and pri­vate debt, their down­ward spiral will continue.

The cor­re­sponding down­ward pull on the U.S. economy is still evi­dent and will also continue.

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Findings & Forecasts 03/27/2013

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Europe’s Melt­down

David Kotok, chairman and CIO of Cum­ber­land Advi­sors, stated yesterday,

“We do not know how long this game of mon­e­tary quan­ti­ta­tive easing will con­tinue in the world. We do not know when it will sta­bi­lize. We do not know what will happen after that period, and we do not know how extrac­tion will occur. What we do know is that world mon­e­tary affairs have never been in a sit­u­a­tion like this before.

One week ear­lier while in Paris after pri­vate meet­ings with mon­e­tary experts, he concluded,

“Europe’s leaders, in our view, con­tinue to make bad deci­sions. In doing so, they make bad mat­ters worse.

“We have not reached this painful con­clu­sion without careful research. We have had a series of meet­ings in Paris with money man­agers, cen­tral bankers, investors, and aca­d­e­mics. All of our meet­ings here were pri­vate. In the candor of those pri­vate dis­cus­sions, we come away with the most trou­bled view we have had of the Euro­zone, the exper­i­ment in this single-currency block, and the market struc­tures in Europe. This is a place in trouble. Courses of action that evi­dence more flailing than fore­thought are not making things any better.”

His bottom-line advice to Cum­ber­land clients: “Watch out for new cap­ital con­trols in Cyprus. They will signal a death knell for cross-border money flows.”

It is incon­ceiv­able to me that the rest of the world is in vir­tual denial of the par­a­digm shift taking place in Europe, even though details con­tinue to flood the media. Per­haps the over­load of news in the last 18 – 24 months has desen­si­tized the ability to com­pre­hend cur­rent events correctly.

Nev­er­the­less, the fact that depos­i­tors in Cyprus with accounts in excess of $100,000 (euros) are losing 40 per­cent of their sup­pos­edly “safe” money is mon­u­mental. It’s stag­gering. And, it will not be the last time that depos­itor accounts are raided as other coun­tries follow suit.

Jeroen Dijs­sel­bloem, Dutch Finance Min­ister and Pres­i­dent of the Eurogroup of euro zone finance min­is­ters, made it clear yes­terday that seizing of assets in Cyprus is not a one-off matter. Rather, he is calling the han­dling of Cyprus a “tem­plate” for other coun­tries that need a bail-out.

In fact, this reverses the con­cept of “bail-out” to “bail-in”, where banks will save them­selves by out­right con­fis­ca­tion of depositor’s unin­sured assets. Is this no-big-deal? Do investors, depos­i­tors, finan­cial ana­lysts, etc, across the world not know that the global cen­tral banking system oper­ates as a unit under the aus­pices of the Bank for Inter­na­tional Set­tle­ments in Basel, Switzer­land? There are no iso­lated poli­cies that apply to a single country, region or con­ti­nent. Every­thing works together now, as the glob­al­iza­tion process has promised since the early 1970’s.

In order to see the bankers’ pat­tern of oper­a­tion, a little modern his­tory is helpful.

The first phase of the global banking plunder started in 2008 with the first finan­cial col­lapse. In 2010, I con­tinued to detail this money gouging from tax­payers:

Remember that in Sep­tember 2008, then-Secretary of the Trea­sury Henry “Ham­merin’ Hank” Paulson demanded $700 bil­lion in bailout funds from Con­gress with no strings attached. Paulson lit­er­ally extorted the money by claiming that America would com­pletely col­lapse in days or weeks if he didn’t get the money autho­rized imme­di­ately. The fact that Paulson was for­merly CEO of Goldman Sachs, a com­pany with heavy rep­re­sen­ta­tion in the Tri­lat­eral Com­mis­sion, didn’t deter his demands nor Con­gress’ total capit­u­la­tion to them.

As bailouts moved for­ward over the fol­lowing 18 months, tax­payer money con­tinued to be the prin­cipal source of bail-out reserves. It was gouge, demand and plunder, but leg­is­la­tors in var­ious nations even­tu­ally ran out of patience with such demands, forcing the banking cartel to “find another way” to bail them­selves out.

Thus, the second phase of the global re-capitalization of banks came in the form of “Quan­ti­ta­tive Easing,” where liq­uidity is cre­ated by the cen­tral banks and injected directly into the global banks. Pre­dictably, it was again the largest global banks that ben­e­fited the most. The U.S. Fed is cur­rently in its third (QE3) round of so-called “easing”, but it amounts to a stealth bail-out by debauching the money supply. Again, very few tax­payers, cit­i­zens of savers both­ered to protest. How­ever, as I have stated pre­vi­ously, the effec­tive­ness of Quan­ti­ta­tive Easing is quickly waning, while causing a myriad other unwanted con­se­quences. This leaves the banking cartel again searching for the next source of funding to keep their house of cards from falling apart.

This third phase is to go after depos­itor funds directly, and this is what Cyprus is all about.  The fact that the EU picked on tiny little Cyprus to set the prece­dent is no mis­take. If they had tried to bully a larger country, such as Italy or Spain, they would have imme­di­ately started World War III. Plus, Cyprus is a rich gem­stone because of Russian for­tunes that are kept on deposit as a tax haven. To swipe 40 per­cent of all deposits over $100,000 is just breath-taking.

There is another twist that must be con­sid­ered, and that is large bank vs. small bank. The global banking cartel despises small banks as com­pe­ti­tion to be gob­bled up and con­sol­i­dated into them­selves. This is not new. Because of the frac­tional reserve system, deposits are held as backing for loans made to busi­ness and indi­vid­uals. Everyone knows that a bank run can destroy a bank in a heart­beat. I am amused that Cypriot author­i­ties are wor­ried about a public bank run after they them­selves stripped out 40 per­cent of larger deposits. What­ever else that might be taken out by smaller depos­i­tors, one thing is sure: Every bank in Cyprus is fin­ished. The global banks have scored a huge coup in Cyrpus — elim­i­nate com­pe­ti­tion and a pesky tax haven where Russian money hid, while making big bucks in the process.

I have long held that the global cred­i­tors of the world would come after any and all assets that they could get their hands on. So far, they have raided trea­suries directly, debauched cur­ren­cies and con­fis­cated bank deposits from small bank clients. What’s next?

I have also long held that there are some remaining hoards of cash that will be too tempting for them to ignore for long. The first pool is retire­ment funds of all sorts — IRA’s, 401K’s, pen­sions, etc. It will again require gov­ern­ment inter­ven­tion to “pass a law” but once the gov­ern­ment has the money in hand — promising to pay future retire­ment checks directly to the losers — the banking cartel will be lined up to suck the gov­ern­ments dry again.

The ulti­mate pool of tan­gible assets are almost too mas­sive to com­pre­hend. That is, land and prop­erty directly owned by gov­ern­ments. In the United States, the gov­ern­ment owns almost 650 mil­lion acres, or 30 per­cent of the entire nation’s land­mass,  including all the min­eral resources con­tained therein. For instance, the Green River For­ma­tion that stretches across Col­orado, Wyoming and Utah is esti­mated to con­tain recov­er­able oil reserves of up to 1 tril­lion bar­rels. At $100 per barrel, Green River is worth $100 tril­lion — and that’s just one rich prop­erty owned by the gov­ern­ment. (Note: Does this help to explain why the gov­ern­ment has been driven to acquire public land over the last 40 years?)

When the banking cartel is fin­ished with Cyprus, that nation will be like a smol­dering car­cass. Other neigh­boring coun­tries need to figure this out because they are next up on the menu.

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Findings & Forecasts 11/21/2012

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Global Economy

It’s offi­cial now: The Euro­zone has re-entered reces­sion that most recently paused in 2009. Despite slight gains in Ger­many and France, the rest of the 17 member union con­tracted for the second quarter in a row.

One country — Greece — con­tinues in out­right depres­sion, having con­tracted at an annual rate of 7.2 per­cent in the third quarter. Reuters reports that “Greece’s GDP for the quarter was 20 per­cent lower in real terms than output in the third quarter of 2008, when the down­turn began.” Cur­rently, Greece suf­fers a gen­eral 25 per­cent unem­ploy­ment rate, but youth unem­ploy­ment is a stag­gering 58 per­cent. That’s four years of bone-crushing depression!

Do you think Greece has prob­lems? Spain’s rate of unem­ploy­ment is a whop­ping  25.8 percent!

The poli­cies of aus­terity that were dic­tated to the club med coun­tries were not offset by any stim­ulus by the northern coun­tries, and espe­cially Ger­many. Thus far, none of the major EU cred­i­tors have lost a nickel on Greek debt, which Angela Merkel of Ger­many has boasted about. Their day of reck­oning is coming. Defla­tion is a cruel taskmaster and is no respecter of cred­i­tors or debtors. The ques­tion is not that some investors will get hosed, but a ques­tion of which ones? The choices are for­eign banks, cen­tral banks, gov­ern­ments, sov­er­eign funds, indi­vidual investors and citizen-savers. Thus far, it has been the lowest class (citizen-savers) who have suf­fered at the hands of the higher-ups.

France is so very close to reces­sion that it’s hard not call it so con­sid­ering that the fourth quarter will almost cer­tainly push them over the edge. Ger­many is right behind France.

According to Desmond Supple of Nomura, “Europe has imposed dusted-off poli­cies from the 1930s and they are dri­ving periph­eral coun­tries towards depression.”

Ambrose Evans-Pritchard reports in the Tele­graph that “The broad M3 money supply has con­tracted over the last six months. Lending to house­holds and firms is not only con­tracting, but doing so at an accel­er­ating rate.” There is a lesson in this for America: The rages of defla­tion are not stopped by simply throwing more money into the system as the Fed is trying to do.  

In Asia, Japan’s exports are falling like a rock, drop­ping 6.5 per­cent in October. Japan has long been the eco­nomic pow­er­house of the east, with China right behind. After years of stag­na­tion, defla­tion and fiscal deficits, Japan’s aging economy is deteriorating.

U.S. Economy

The link between the economy and the stock market con­tinues to be felt. Despite many neg­a­tive fac­tors, pos­i­tive bits of data are seen here and there. As stocks head down, how­ever, the economy will follow.

One famed econ­o­mist, Jeremy Grantham, pre­dicts that the U.S. economy may only grow at 0.9 per­cent per year on an adjusted basis. He says the “old growth rate of 3 per­cent” is gone forever:

Pop­u­la­tion growth is done; it will creep up at just one half of one per­cent. Adding women to the work­force helped increase work hours and pro­duc­tivity, but less chil­dren will cancel that out in the long run. That means less work hours, which also means less pro­duc­tivity. By 2040, says Grantham, the US’ man­u­fac­turing base will be only 5% of the total economy. Ser­vice pro­duc­tivity will barely grow by 2030. We will be spending more money on resources, including oil. “The price rise might even accel­erate as cheap resources diminish,” Grantham writes. “If resources increase their costs at 9% a year, the US will reach a point where all of the growth gen­er­ated by the economy is used up in simply obtaining enough resources to run the system.” Within 11 years, the United States would actu­ally be shrinking.

Grantham con­cludes: “Crit­i­cally, the tech boom and bust and the fol­lowing housing boom and housing and finan­cial busts helped cam­ou­flage the recent unpleasant eco­nomic devel­op­ment lying below the sur­face: the steady and impor­tant drop in long-term US growth.”

Grantham’s grasp of demo­graphic trends is obvious. The global push for pop­u­la­tion con­trol that started in the 1970’s has cre­ated an ugly sit­u­a­tion where working-age seg­ments are shrinking while older gen­er­a­tions are swelling in number. Today’s birthrate is so low that demo­graphic experts say it is math­e­mat­i­cally impos­sible to recover.

Market

From the DJIA’s recent low of 12,471.50, the cur­rent rebound/correction should take the form of a pat­tern with one or more a-b-c waves. The bounce does not seem com­plete as of today. With a short­ened trading week, we must wait until next week to see how long it will last.

As stocks cor­rect, gold and silver are also cor­recting upward and the dollar is cor­recting down­ward. This is the normal “all-the-same-market” sce­nario as described so well by Robert Prechter.

Have a blessed Thanksgiving.

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Findings & Forecasts 09/26/2012

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Obama to win?

Last week I stated,  “this writer will cur­rently call ‘Obama to win down the home stretch.’” A reader then referred me to an elec­toral vote tracking web site that under­scores the  prob­a­bility of Obama’s re-election.

Polls that track the pop­ular vote are mis­leading because it isn’t the pop­ular vote who wins the elec­tion: It is the Elec­toral vote. Between the 50 states, a can­di­date must win a total of 270 elec­toral votes to win. Most states give 100 per­cent of their elec­toral votes to the can­di­date with the highest pop­ular vote, rather than sharing them between two candidates.

Cal­i­fornia, for instance, has 55 elec­toral votes at stake. If a can­di­date receives 50.01 per­cent of the pop­ular vote, he gets all 55 votes. Will Obama win Cal­i­fornia? Absolutely! Other large Demo­crat states include Michigan (16), New York (29), Penn­syl­vania (20) and Ohio (18).

You can see in the chart above that Obama far exceeds Romney, and the 270 needed to win, in poten­tial elec­toral votes. Fur­ther­more, Obama slipped below the 270 line only once for a single week in June just after Romney cinched the GOP nom­i­na­tion. There­after, Obama has been riding high.

The real ques­tion now is, can Romney do any­thing to unseat Obama’s elec­toral votes by sweeping states that have been tra­di­tion­ally Demo­crat? First, note the elec­toral votes that he has lost since early June. Sec­ondly, note that he has made zero progress since the GOP Con­ven­tion. A “winner” would be expe­ri­encing some mea­sure of upticks over the last four months, but Romney is no winner thus far.

Thus, I rest my case again: It will be “Obama to win down the home stretch.”

It is cur­rently prob­able that the House of Rep­re­sen­ta­tives will remain a Repub­lican majority. It is pos­sible (albeit improb­able) that the Senate could gain a Repub­lican majority. A GOP majority in both cham­bers would dull the effec­tive­ness of another Obama term, but it would not change his deter­mi­na­tion to fun­da­men­tally change America.

Eco­nomics

All eyes are back on Europe again as Greece and Spain are again enveloped in public unrest. Greece is all but par­a­lyzed with a gen­eral strike — planes grounded, schools closed, gov­ern­ment offices shut down. Cit­i­zens are rioting in the streets.

Spanish cit­i­zens have also taken to the streets to protest their inept and cor­rupt government.

(Photo Reuters)

The entire pic­ture above is a good depic­tion of the per­ilous posi­tion that these gov­ern­ments are in: Note the police vehi­cles and policemen are com­pletely sur­rounded by the angry mob.

Every time some offi­cial in the EU or at the Euro­pean Cen­tral Bank comes up with a new scheme to dis­solve the finan­cial crisis, the solu­tion always becomes gaso­line to the fire. Each time the people are more dis­traught and more vio­lent. What they are finding is that a) politi­cians and banksters have no solu­tions and b) they are the source of the problem in the first place.

Fur­ther­more, this con­ta­gion is spreading, not con­tracting. Social unrest is becoming the dom­i­nant theme across Europe, the Mideast and even Asia.

Cit­i­zens in many Amer­ican com­mu­ni­ties are now actively (although politely) protesting and resisting the imple­men­ta­tion of U.N.-inspired Agenda 21 poli­cies. This wraps in issues such as sus­tain­able devel­op­ment, smart growth and public-private part­ner­ships. In China, a farmer’s land was being “appro­pri­ated” for com­mer­cial devel­op­ment (America’s ver­sion of emi­nent domain and public-private part­ner­ships), and was to be paid a paltry amount to relo­cate to another area. Refusing to go along with the “public good”, the farmer protested. The resulting head­line that hit the Mail Online (UK) web site was:

Chi­nese pro­tester opposing gov­ern­ment takeover of vil­lage land ‘is crushed to death by state-controlled road-flattening truck’  [Warning: Graphic images]

Pro­tes­tors in Spain and Greece should be glad that they don’t live in China.

America will soon see protests, espe­cially if Obama is reelected to a second term.

In the first four years, median income of all house­holds has dropped 8.2 per­cent. The use of food stamps has increased 34 per­cent. The number of people with low wage jobs has increased 30 per­cent. The number of workers who have left the work­force (given up looking for work) is at peak levels.

What do you imagine that the second four years will look like? The strains on Amer­ican society have def­i­nite limits before mob protests break out. Vio­lence fol­lows mob protests. Death fol­lows mob vio­lence. It’s a cycle that has been seen in dozens of coun­tries over just a few years… and it will even­tu­ally come to Amer­ican shores as well.

Tech­noc­racy

Trap­Wire, Inc. is a com­pany founded in 2004 to build sys­tems that iden­tify and catch ter­ror­ists and crim­i­nals. They work with everyone from Depart­ment of Home­land Secu­rity to the NSA to local law enforce­ment agen­cies. And, their show­case product is like­wise named Trap­Wire:

“Trap­Wire is a unique, pre­dic­tive soft­ware system designed to detect pat­terns indica­tive of ter­rorist attacks or crim­inal oper­a­tions. Uti­lizing a pro­pri­etary, rules-based engine, Trap­Wire detects, ana­lyzes and alerts on sus­pi­cious events as they are col­lected over periods of time and across mul­tiple loca­tions. Through the sys­tem­atic cap­ture of these pre-attack indi­ca­tors, ter­rorist or crim­inal sur­veil­lance and pre-attack plan­ning oper­a­tions can be iden­ti­fied — and appro­priate law enforce­ment counter mea­sures employed ahead of the attack. As such, our clients are pro­vided with the ability to pre­vent the ter­rorist or crim­inal event, rather than simply mit­i­gate damage or loss of life.” [Emphasis added]

According to the U.S. Con­sti­tu­tion and tra­di­tional law enforce­ment prac­tices, crim­i­nals are arrested and judged after the com­mis­sion of a crime. In addi­tion, one is pre­sumed to be inno­cent until proven guilty. When con­victed and pun­ished, the pun­ish­ment acts as the future deter­rent for other would-be criminals.

This is rapidly changing. By using data fusion tech­niques (inte­grating and cor­re­lating data from mul­tiple, unre­lated sources), law enforce­ment has been duped into believing that so-called psy­cho­graphics is just as real as having actu­ally com­mitted a crime. When a com­puter algo­rithm weighs all your data and decides that you are pre­dis­posed to com­mit­ting a crime, you are pre­sumed to be “pre-guilty” and you will be fur­ther sur­veilled until you are caught doing some­thing wrong.

In the book 1984, George Orwell wrote of a lan­guage called “Newspeak” where unac­cept­able thought was called “crime­think.” Mon­i­toring a person’s thoughts and inner moti­va­tions was the key to detect crim­inal behavior and if you were guilty of “crime­think,” you were arrested imme­di­ately, before you could do any real harm to anyone, and sent off to mental rehab.

Wel­come to Technocracy.

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Trilateral Commission influence in the Eurozone

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by Patrick Wood

Speaking of his Tri­lat­eral Commission’s influ­ence in the orig­inal cre­ation of the Euro­pean Union, David Rock­e­feller wrote in 1998,

“Back in the early Sev­en­ties, the hope for a more united EUROPE was already full-blown — thanks in many ways to the indi­vidual ener­gies pre­vi­ously spent by so many of the Tri­lat­eral Commission’s ear­liest mem­bers.” [Cap­i­tals in orig­inal] (Rock­e­feller, David; In the Begin­ning; The Tri­lat­eral Com­mis­sion at 25, 1998, p.11)

Some argued that “that was then and this is now,” and that the Commission’s influ­ence had waned with the passing of the older generation.

Non­sense. It was Tri­lat­eral Com­mis­sioner Vallery d’Estaing who authored the EU’s Con­sti­tu­tion in 2002 – 2003 when he was Pres­i­dent of the Con­ven­tion on the Future of Europe.

On November 10, 2011, Robert Wenzel, Editor & Pub­lisher of the Eco­nomic Policy Journal, wrote the fol­lowing short report:

And the Big Time Banksters Come Marching In

“Here’s what you need to know about the cur­rent crisis in the Euro­zone. The big time banksters are get­ting direct hands on control:

“Mario Drgahi has become pres­i­dent of the Euro­pean Cen­tral Bank as of November 1. He was vice chairman and man­aging director of Goldman Sachs Inter­na­tional and a member of the firm-wide man­age­ment com­mittee. He was the Italian Exec­u­tive Director at the World Bank. He has been a Fellow of the Insti­tute of Pol­i­tics at the John F. Kennedy School of Gov­ern­ment, Har­vard University.

“Lucas Papademos takes over today as Prime Min­ister of Greece. He was an econ­o­mist at the Fed­eral Reserve Bank of Boston. He was a vis­iting pro­fessor of public policy at the Kennedy School of Gov­ern­ment at Har­vard Uni­ver­sity. And, he was pre­vi­ously a vice pres­i­dent of the Euro­pean Cen­tral Bank. He has been a member of the Tri­lat­eral Com­mis­sion since 1998.

“Indi­ca­tions are that Mario Monti will suc­ceed Silvio Berlus­coni as prime min­ister of Italy, within in days. Monti com­pleted grad­uate studies at Yale Uni­ver­sity, where he studied under James Tobin (see the Tobin Tax). He is a member of the Euro­pean Com­mis­sion. He is Euro­pean Chairman of the Tri­lat­eral Com­mis­sion and and member of the Bilder­berg Group.

“If you get the sense that the elitist banksters are going to take this finan­cial crisis and push it in what­ever direc­tion they want, you are prob­ably very right.”

As you can see, little has changed since 1973, and the same Tri­lat­eral Com­mis­sion mem­ber­ship keeps pop­ping up in the most hal­lowed posi­tions of power and influ­ence. The Commission’s defense is that it was simply coin­ci­dental for their mem­bers to be picked for var­ious high-level posi­tions because of their supe­rior tal­ents and abil­i­ties. This is not hearsay: I have had this spoken directly to me by mem­bers of the Commission.

Con­sid­ering that the mem­ber­ship hovers around 300 – 350 at any given time,  it is sta­tis­ti­cally impos­sible that they could have been ran­domly picked at such a high fre­quency over such a long period of time. In the U.S. alone since 1973, Com­mis­sion mem­bers held

  • 8 out of 10 U.S. Trade Rep­re­sen­ta­tive appointments
  • 6 our of 8 World Bank presidencies
  • 6 out of 7 President/Vice Pres­i­dent elections

Could any sane person think that they Tri­lat­erals just stum­bled into all of these posi­tions?  Of course not.

The his­tor­ical evi­dence declares that the Tri­lat­eral Com­mis­sion hijacked the global polit­ical system for the exact pur­poses it stated in 1973. That is, to “foster a New Inter­na­tional Eco­nomic Order.”

Just who rules the world economy?

When Antony Sutton and myself studied the Tri­lat­eral Com­mis­sion in 1978, one ana­lyt­ical tech­nique we used was a deriv­a­tive of soci­ology called “net­work topology.” We assem­bled names of direc­tors, exec­u­tives and major share­holders of com­pa­nies asso­ci­ated with the Tri­lat­erals and then dia­grammed them to show over­laps and other non-obvious asso­ci­a­tions. Our results were stun­ning. We found a tight inter­locking net­work that was far stronger than a bunch of inde­pen­dent com­pa­nies. In graph­ical form, the net­work was clearly vis­ible. (See Tri­lat­erals Over Wash­ington, Volume I)

Recently, three researchers in Switzer­land (S. Vitali, J.B. Glat­tfelder, and S. Bat­tiston) have released a sim­ilar and modern study called “The net­work of global cor­po­rate con­trol.” In the abstract they state,

“We find that transna­tional cor­po­ra­tions form a giant bow-tie struc­ture and that a large por­tion of con­trol flows to a small tightly-knit core of finan­cial insti­tu­tions. This core can be seen as an eco­nomic “super-entity” that raises new impor­tant issues both for researchers and policy makers.”

This is an under­state­ment. In Table S1 buried in the appendix, they list the “top 50 control-holders,” where share­holders are ranked according to their level of net­work con­trol. These are the com­pa­nies who com­prise the inner-core of global control.

Of the 50 com­pa­nies, 45 are banks, insur­ance or other finan­cial insti­tu­tions. From the U.S. we see the usual: State Street, JP Morgan Chase, B of A, Goldman Sachs, Morgan Stanley and others.

In short, this core of banks/financials are the real rulers of the world economy. There is no spec­u­la­tion here: This is hard and com­pelling evidence.

This is also the exact same con­clu­sion that Sutton and I reached in 1978 with more rudi­men­tary, non-computerized analysis.

The report concludes,

“This is the first time a ranking of eco­nomic actors by global con­trol is pre­sented. Notice that many actors belong to the finan­cial sector (NACE codes starting with 65,66,67) and many of the names are well-known global players. The interest of this ranking is not that it exposes unsus­pected pow­erful players. Instead, it shows that many of the top actors belong to the core. This means that they do not carry out their busi­ness in iso­la­tion but, on the con­trary, they are tied together in an extremely entan­gled web of con­trol. This finding is extremely impor­tant since there was no prior eco­nomic theory or empir­ical evi­dence regarding whether and how top players are con­nected. Finally, it should be noted that gov­ern­ments and nat­ural per­sons are only fea­tured fur­ther down in the list.” [emphasis added]

Zbig­niew Brzezinski, co-founder of the Tri­lat­eral Com­mis­sion with David Rock­e­feller in 1973, summed up the “net­work” in his 1970 Between Two Ages: America’s Role in the Tech­netronic Era:

“The nation-­state as a fun­da­mental unit of man’s orga­nized life has ceased to be the prin­cipal cre­ative force: Inter­na­tional banks and multi­na­tional cor­po­ra­tions are acting and plan­ning in terms that are far in advance of the polit­ical con­cepts of the nation-state.” [emphasis added]

Unfor­tu­nately, this is the reality of the matter. With inter­na­tional banks at the center and var­ious multi­na­tional com­pa­nies in the periphery, the net­work con­tinues to dom­i­nate and con­trol the course of world events. The cit­i­zens of the respec­tive coun­tries are little more than objects to be taxed and manipulated.

In Europe, the finan­cial demise of Italy and Greece threatens to melt down the Euro­pean region, if not the entire global economy. That Tri­lat­eral bankers Papademos and Monti, respec­tively, would take the helm as Prime Min­ister of their own nation-state should be likened to be a receiver­ship move designed to pro­tect the assets of the banks (the “Net­work”) they rep­re­sent. If nothing else, it cer­tainly shows that the Tri­lat­eral hege­mony over Europe is alive and well.

Until this hege­mony is somehow dis­solved, the game of national polit­ical elec­tions (In the U.S. or Europe) is largely an exer­cise in futility. Elec­tors are simply deceived when they fail to rec­og­nize and address the real power behind the political/economic system.

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What is Globalization?

It is the col­lective effect of pur­poseful and amoral manip­u­la­tion that seeks to cen­tralize eco­nomic, polit­ical, tech­no­log­ical and soci­etal forces in order to accrue max­imum profit and polit­ical power to global banks, global cor­po­ra­tions and the elit­ists who run them. It is rapidly moving toward an full and final imple­men­ta­tion of Technocracy.

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What is the Tri­lat­eral Commission?

Founded in 1973 by David Rock­e­feller and Zbig­niew Brzezinski, the Com­mis­sion set out to create a “New Inter­na­tional Eco­nomic Order”, namely, Tech­noc­racy. The orig­inal mem­ber­ship con­sisted of elit­ists (bankers, politi­cians, aca­d­e­mics, indus­tri­al­ists) from Japan, North America and Europe. Col­lec­tively, they have dom­i­nated and con­trolled trade and eco­nomic policy in their respec­tive coun­tries since at least 1974.

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What is Technocracy?

Tech­noc­racy is a move­ment started in the 1930’s by engi­neers, sci­en­tists and tech­ni­cians that pro­posed the replace­ment of cap­i­talism with an energy-based economy. Orig­i­nally envi­sioned for North America only, it is now being applied on a global basis. Authors Aldous Huxley and George Orwell believed that Tech­noc­racy would result in a Sci­en­tific Dic­ta­tor­ship, as reflected in their books, “Brave New World” and “1984″.

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What is Smart Grid?

Smart Grid is the national and global imple­men­ta­tion of dig­ital and Wi-fi enabled power meters that enable com­mu­ni­ca­tion between the appli­ances in your home or busi­ness, with the power provider. This pro­vides con­trol over your appli­ances and your usage of elec­tricity, gas and water.

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Who is M. King Hubbert?

Hub­bert was a geo-physicist who co-founded Tech­noc­racy, Inc. in 1932 and authored its Tech­noc­racy Study Course. In 1954, he became the cre­ator of the “Peak Oil Theory”, or “Hubbert’s Peak” which the­o­rized that the world was rapidly run­ning out of carbon-based fuels. Hub­bert is widely con­sid­ered as a “founding father” of the global warming and green movements.

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Who is R. Buck­min­ster Fuller?

A pio­neer in global eco­log­ical theory, Fuller (1895 – 1984) was the first to sug­gest the devel­op­ment of a Global Energy Grid that is today known as the Global Smart Grid. Fuller is widely con­sid­ered to be a “founding father” of the global green move­ment, including global warming, Sus­tain­able Devel­op­ment, Agenda 21, etc.

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Is the Venus Project like Technocracy?

The Venus Project, founded by Jacque Fresco, is a utopian, modern-day iter­a­tion of Tech­noc­racy. Like Tech­noc­racy, it scraps cap­i­talism and pro­poses that “a resource-based economy all of the world’s resources are held as the common her­itage of all of Earth’s people, thus even­tu­ally out­growing the need for the arti­fi­cial bound­aries that sep­a­rate people.” The appli­ca­tion of tech­nology is the answer to all of the world’s prob­lems, including war, famine and poverty.

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