World being deflated by a global crisis

Global Financial Crisis Ushering in "Third Way"

World Markets Collapse -- Meltdown Serving as Battering Ram for Global Change

    It's here! The global apocalypse forecasted only by the "lunatic fringe", by conspiracy mongers and doomsayers of every kind, is now sweeping the earth as you read this. The official economic prognosticators, who were buoyantly declaring as early as this summer that there was "no end in sight" to the ideal conditions of sustained growth with low inflation in the United States, are now beginning to sound like doomsayers themselves, predicting "incalculable human and political consequences" if current trends continue. The grave implications of a global meltdown have not occurred to many Americans of whom a majority are preoccupied by their president's sex life which dominates the headlines. The tidal wave looming on the horizon does not concern the revelers on the beach, but that will not lessen its devastating impact.

    That tidal wave has already left a swath of destruction across Asia, Russia, and now Latin America, with the list of casualties seeming to mount weekly. Just last summer the global economy was humming along wonderfully, or so it seemed. The "Asian flu" erupted in Thailand a year ago July as the bhat collapsed against the dollar. An IMF bailout failed to rescue that nation from a depression and the other dominoes fell in rapid succession. Malaysia was next followed by Indonesia, South Korea and Singapore. More IMF bailouts were launched but failed after takeoff. That's $120 billion up in smoke. The so-called "Asian Tigers" of the Nineties have sunk into a vault of foreboding gloom.

    In the financial massacre some Asian stock markets suffered losses that were greater than the Wall Street crash of 1929. Almost overnight the Indonesian middle class evaporated, wiping out that country's standard of living gains of the past thirty years. Indonesian police have orders to shoot looters on the spot as famine menaces the new urban poor. An army general has warned of anarchy and collapse unless food can be imported, an unlikely prospect with no money on hand. The conditions in Asia continue to worsen.

    Back in the U.S. a bumper harvest is piled wherever space can be found for it. The bottom has fallen out of farm commodity prices, in some cases paying less than half of what it cost the farmers to produce them. Farmers from eastern Oregon to Minnesota are storing their grain, piling it on the ground for lack of storage space, hoping for better prices -- soon. Meanwhile, the politicians haggle over whose fault it is that so many American farmers are going down the tubes. Some blame the lack of access to foreign markets, while others say that foreign farmers are dumping their products at rock bottom prices in the U.S., undercutting the American farmer. There is also reportedly a global "grain glut" -- a tragic irony with so many people on the brink of famine.

    On May 7th Congressman Dent Conrad of North Dakota presented a chart showing farm income to be down from $764 million to $15 million. This 98% decline means that the average farmer in his state is netting $500 a year in the current situation. (EIR News Service, May 22, 1998). Rep. Conrad warns that unless something is done soon, "we are going to see an exodus from agriculture unlike any we've seen in our history." The Clinton administration is proposing a $17 billion farm aid package which is nothing more than an election year "robbing Peter to pay Paul" largess that is contrary to sound economic principles. Like gravity, the laws of economics cannot be cheated.

    $2 trillion in household paper wealth disappeared between July 17 and the end of August in the U.S. stock market "correction", newspeak for "collapse". The U.S. trade deficit has sharply increased as markets for American goods dry up. There is now talk of "recession", another newspeak word that describes a condition of suffering experienced by working people. As foreign currencies collapse against the dollar, the U.S. market is flooded with cheap merchandise, forcing American manufacturers to lay off workers. Contrary to what the talking heads are saying, there will be no "island of prosperity" in this global crisis.

    Late in August the Russian government went into default as the ruble collapsed, wiping out Russian banks. Millions of workers haven't been paid for months and trade unions are calling for a nationwide strike for October 7th to attempt to force President Boris Yeltsin from office. Strikers will block roads and shut the country down. As a cold, hungry winter stares them in the face, the Russian government broke from its IMF and World Bank handlers and began printing money to pay back wages and stabilize the banks, promising a return to hyper-inflation.

    Malaysia has also told the IMF where to get off, clamping down controls on capital flows and breaking from international "free market" disciplines. Signs of global rebellion to IMF dictates have caused international investors to flee emerging markets, the depository of more than half of all foreign investment in 1994. The global panic is now threatening to destroy Latin America which would unleash a new wave of financial disaster on the world.

Crisis a Prelude to Change

    We will spare the reader an in-depth discussion on how political, social and financial crisis is fostered and then used by "the elite" to usher in change. Many are already familiar with Hegelian Dialectics, the occultic idea that conflict is the engine of change which was the thinking of communists in the 19th century as well as "progressive elites" today. Without attempting to make a case against any group or entity responsible for the current crisis, we may build on the premise that it did not "just happen by itself", the ol' market forces at work scenario. Even if its causes were a combination of factors, both deliberate and unfortunate, we may rest assured that the results will serve as an opportunity to introduce the type of change that benefits the few at the expense of many. History has demonstrated this again and again.

    American financial crises of the past have been wonderful opportunities for the cabal to introduce socialism in this country. The panic of 1908 was useful in passing the Federal Reserve Banking Act, another name for a central bank that Andrew Jackson warned us about. These so-called "reforms" (a word used by the IMF in its policies toward national economies) also included the passage of the 16th Amendment and a federal income tax. It is interesting to note how this tax was ostensibly aimed at the wealthiest 1% of Americans, but ended up enslaving the bottom 90%. This is the modus operandi of wealthy globalists - introduce measures to "reform" capital and help "working people." During a crisis the majority will cry for it. They will not realize the joke is on them.

    President Herbert Hoover, a man most Americans associate with the Great Depression, was actually a man of keen insight and ability. He was very familiar with Soviet communism and the fascism that was sweeping Europe. After the stock market crash of 1929, he and the Senate resisted pressure to leave the gold standard and to introduce socialist policies. After three years of stark economic conditions, the country was ready to welcome the joking, laughing, "make you feel good" socialist known as FDR. After losing the election, Hoover encouraged FDR to release a statement that would encourage confidence in the banking system and assure investors he was not going to try anything radical while in office. FDR refused to make any such assurances, which added fuel to the financial panic. By inauguration day the crisis reached its climax.

    In his book, The Shattered Dream, historian Gene Smith writes:

All through the afternoon and evening governors across the country ordered the banks closed before the Americans emptied and destroyed them. A Roman holiday, Hoover thought. Five days earlier Adolf Hitler had manufactured the Reichstag fire as an excuse to run amuck, arresting, imprisoning, slaying the Germany that had been. Roosevelt, Hoover thought, had learned from Hitler. The bank closings would be his Reichstag fire. (The Shattered Dream -- Herbert Hoover and the Great Depression by Gene Smith, 1970, William Morrow, New York).

    Hoover was correct, except that what followed was a softer socialism known as the New Deal, "friendly" slave labor camps run by the CCC and the WPA, and a massive federal bureaucracy. FDR needed a helpless nation and a compliant Congress to implement this kind of radical change. The banking crisis provoked by his silence helped to bring this about.

    In an interesting side note that might illuminate the comparison with our present situation, Gene Smith writes that Stephen S. Wise, a prominent Rabbi of New York's Free Synagogue voiced his concern about FDR in a letter to Professor Felix Frankfurter of Harvard Law School. Wise wrote, "...I know him and I know how utterly untrustworthy he is the moment any problem arises, decisions or tactics touching which may adversely affect his own political fortunes. I have nothing but horror at the thought of what Roosevelt will be for four years at Washington.... There is no basic stuff in the man. There are no deep-seated convictions. He is a tremendously agreeable and attractive person, but there is no bedrock in him. He is all clay and no granite." (ibid.). Sound like a president you know?

    In other words, FDR was a man without principles, a perfect president for implementing a socialist agenda. Curtis Dall, husband of FDR's daughter Anna, was a member of the New York Stock Exchange. In 1967 he wrote FDR -- My Exploited Father-in-law where he states, "For a long time I felt that FDR had developed many thoughts and ideas that were his own to benefit this country, the U.S.A. But he didn't. Most of his thoughts, his political 'ammunition' as it were, was carefully manufactured for him in advance by the CFR-One-World Money group."

    Concerning the manipulation of financial markets from above, Dall writes that the 1929 stock market crash "was the calculated 'shearing' of the public by the World-Money powers, triggered by the planned sudden shortage of the supply of call money in the New York money market...." (Road to Socialism and the New World Order by Dennis Laurence Cuddy, Ph.D.).

The Third Way to the Rescue

"The urge to save humanity is almost always
a false front for the urge to rule."
-- Menken

    As the current financial crisis unfolds, we once again see the proffered deliverance of the global elite, this time packaged as something called The Third Way, the upgraded New Deal for the 21st century. It's not capitalism, its not communism, they really aren't saying what it is, but it is supposed to be the best of both worlds and deliver us from this terrible crisis. Like FDR, today's "progressives" are saying, "to save capitalism we will have to temper it."

    President Clinton participated in a panel on The Third Way on September 21 in New York City. British Prime Minister Tony Blair, his "New Labour" counterpart and fellow Bilderberger, flew in from London to attend as well, as did the leaders of Italy, Sweden and Bulgaria. The old paradigm of liberal and conservative is giving way to a "third way," they say, a new model of government that is sweeping Europe and is embodied by Bill Clinton's policies.

    "Sweeping" is how it's moving as the global financial collapse coupled with a collapse of intellectual capital in national politics has provided a window of opportunity to introduce The Third Way. Some say that it is not clear what The Third Way proposes to do because the goalposts keep getting moved. While this should be enough to concern the serious observer, there has also been a flurry of statements made by Clinton, Blair and several figures in international finance that should help put some meat on the agenda.

    On the same day he participated on the panel, Tony Blair appeared at the United Nations and made an unprecedented statement regarding his country's military forces. He said, "I announce today that within six months we will conclude a specific agreement with the UN to ensure that it can make rapid use of what we have to offer when it's needed." In other words, Britain will be the first nation to contribute forces to a standing U.N. army. It is clear that world government and a standing army to back it up are important goals of the "Third Wayers," as is the concept that a nation's wealth and trading privileges are subject to a supranational authority. We need to take a "fresh look at the international financial architecture," Blair added vaguely.

    Also participating in the Third Way panel was Robert Hormats, a vice chairman at Goldman, Sachs & Co., and AFL-CIO president John Sweeney. Hormats warned that the U.S. is "probably the biggest threat to prosperity since the oil crisis of the 1970s," and that if the Japanese banking system fell, "it would make the Russian crisis look like a picnic." "We need to show the softer side of capitalism," Hormats urged, recommending large scale "aid" to struggling economies, and massive food and medicine drops to northern Russia. Sweeney said the world "needs new international agencies ... not credit agencies or life rafts" for the rich. International wealth redistribution will be the name of the game here, and just like the income tax, the burden will not fall on the wealthy, international cabal.

    One week prior to the Third Way panel, Clinton traveled to New York to give a speech before David Rockefeller and his other friends at the Council on Foreign Relations (CFR). In that speech he announced that within thirty days the heads of the major central banks would meet to discuss "reforming" the international financial architecture. "Above all, we must accelerate our efforts to reform the international financial system," he said. This proposal is pregnant with possibilities in light of the man making it and the audience receiving it.

    "...We need to be honest with Russia and everyone else," Clinton continued. "No nation, rich or poor, democratic or authoritarian, can escape the fundamental economic imperatives of the global market. No nation can escape its discipline. No nation can avoid its responsibility to do its part." Evidently, this is what "reform" means. Everyone has to play, and everyone has to pay because the world bankers will soon have their own standing army to deal with those who won't.

    Referring to the New Deal, Clinton ended his speech at the CFR with the closing statement: "In this room, I think it is not too simple to say we know what to do. The World War II generation did it for us fifty years ago."

Global Crisis Will Fail to Achieve Socialist Dream

    As the New Deal brought socialism on the national level during the Great Depression, so do those of The Third Way seek to bring socialism to the international level. This would be the crowning achievement of their long endeavor -- to unite the world under one socialist government dominated by a small group of plutocratic elite. As Adolf Hitler used the Reichstag fire and FDR used the banking crisis to usher in their new order, so will those of the Third Way make the most of the global financial crisis to usher in "The Fourth Reich of the Rich", an appropriate name for an old conspiracy that always shrouds itself in a new wrapper.

    No other literary work better describes the glories of the global finance and trading system and those profiting from it than the eighteenth chapter of the book of Revelation in the Bible. In great detail it describes the valuable merchandise that is traded between nations, defining at last the "slaves and souls of men" that make up the sum of the cargo. This is the truth of this new order. Men's bodies and souls are sold like merchandise. Consequently, this false system will fall before achieving its goal. Verse 21 reads:

"And a mighty angel took up a stone like a great millstone, and cast it into the sea, saying, Thus with violence shall that great city Babylon be thrown down, and shall be found no more at all."

We are happy to be witnesses to the fullfillment of that event.

Written 09/23/98


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