globalized money

After 9/11, when President Bush urged Americans to do the patriotic thing, help the economy by going out and spending up big, it irked Lanie that most of the spending Americans did was enriching China and all the other places that our manufacturers had offshored to and she couldn’t see how this was helping us.

"We were told that all the dollars China gained from selling us stuff we didn't really need to buy -- but bought anyway because that's what we were told to -- were coming back to us in investments," says Lanie, "and while it was nice to know, sort of, that the Chinese were investing in our country, it isn't so nice now, in an economic meltdown, to realize that we now longer own our own country.”

"I'm upset that the rest of the world sees Americans as greedy monsters who deserve to suffer an economic meltdown," says Lanie. "The housing bubble and the bailout may not have occurred if Bush hadn't urged shocked Americans after 9/11 to spend up big and incur debt in order to save the economy and the free world."

"It wasn't greed that fuelled the debt, it was patriotism."

"Back in 2001 we were already in an economic slump due to the dotcom bust," explains Lanie. "Hundreds of thousands of people had done their dough investing in dotcoms or had lost their jobs, and if nothing else 9/11 mobilized the country into patriotic action."

"Massive military recruitment drives sopped up the patriotic unemployed, and the rest of us did our bit for Uncle Sam by doing as Bush urged us to do -- go out and spend up big!"

"Had 9/11 not happened, I think Bush and his neocon cronies would have trumped up some other fearful event to whip us into shape," explains Lanie, "because the economy at the time was heading south big time."

"What really irked me was that, apart from housing, all the spending we did enriched China and all the other places that our manufacturers had offshored to -- and I just couldn't see how this was helping us."

"We were told that all the dollars China gained from selling us stuff we didn't really need to buy -- but bought anyway because that's what we were told to -- were coming back to us in investments," says Lanie, "and while it was nice to know, sort of, that the Chinese were investing in our country, it wasn't so nice to imagine that these investments were also being used by Bush and his cronies to fund the invasion of Iraq, line their pockets and do other nasty stuff."

"Anyway, it was the housing spending spree which really did us in," sighs Lanie. "After we had maxed out on our credit cards buying plasmas, electronics and whitegoods we were encouraged to take out equity in our homes to buy more stuff -- in our case a new kitchen and bathroom – and then the sub-prime balloon mortgage industry popped up to encourage poor folk to buy houses they had no hope in hell of ever owning and we started to become worried."

"We were happy to use equity in our home to improve its value -- it was our home, after all, and we intend to live in it forever -- but when the speculators moved in, churning sales for a quick profit, taking advantage of poor folk, and causing house prices to spiral way beyond their true value it was the end of the line."

"Houses are like food -- basic necessities -- you don't mess with them, and if you don't have a job and can't afford them, they should be provided gratis by the state. Isn't that what all enlightened democratic countries do for their poor citizens?"

"Sure, some Americans are greedy monsters just like some people are in other countries, and because we have a bigger population than most countries there are, unfortunately, proportionally more greedy monsters here," says Lanie, "but the vast majority of Americans, like elsewhere, are decent people who are appalled at the financial mismanagement of this country since 9/11."

"When Bush told us to go out and spend, we naively believed that it was the patriotic thing to do," sighs Lanie. "We were all in a state of shock after 9/11 and if getting into debt was what we had to do in order to save our country from terrorists bent on breaking our economy and world trade, then that's what we had to do."

"Greed didn't motivate us to spend up big and get into debt, patriotism did," says Lanie, "and as much as most of us disliked Bush, we trusted that his administration knew what it was doing."

"I blame the Bush administration and weak regulation for the mess that we are in right now," says Lanie. "By encouraging us to spend, and get into debt, the perfect conditions for exploitation were set up."

"Unfortunately, not all Americans are patriotic and, in encouraging a spending spree, the Bush administration created a lot more greedy monsters to crawl out of the woodwork and prey on us," explains Lanie. "And, in a global economy, greedy monsters everywhere were also sucking the dollars out of us."

"If we had been told to save and invest in our country ourselves, like the Europeans do, China wouldn't now just about own us," says Lanie. "Our national debt is mind-boggling and I fail to see how printing more money to bail out the banks is going to help."

"On a personal level, I am angry that money that we could have used to pay off our mortgage was spent, instead, on increasing our debt via equity release," says Lanie. "Sure, we have a nicer home now but a bigger slice of it belongs to a bank which, for all I know, may be controlled by some guy in Asia who is just waiting for us to lose our jobs in an economic meltdown and default on our mortgage payments before foreclosing on us.”

“Has anyone ever wondered who is going to buy up all the foreclosed houses at fire sale prices?” asks Lanie. “Immigrants, that’s who’ll buy them. And most of them will be wealthy, cashed up Asians who grew rich on our so-called patriotic spending.”

“That’s globalization for you!”

global terrorism and scapegoats

Corinne, married with no kids, once made a mistake at work and since then she's been blamed for everything that goes wrong, whether it's in her department or not, so she knows what it's like to be made a scapegoat and she understands the ultererior motives of the globalists -- all of whom, according to her, are little better than terrorists.

"If that sort of thing can happen to a little thing like me," laughs Corinne, "then I can understand why someone like Saddam Hussein gets blamed for 9/11 and every terrorist activity anywhere in the world. Sure, he's an evil monster and deserves to be hanged, but invading Iraq was an evil, monstrous thing to do, too."

"As soon as Bush announced the axis of evil." says Corinne, "I knew that Iraq rather than Iran or North Korea was going to get targeted, and I knew that Saddam was going to bear the brunt for Bush's failure to capture Osama. Someone had to be made a scapegoat, and Saddam was it."

"Theoretically, any country has the potential to produce chemicals of mass destruction," adds Corinne, "so it is the potential and capacity to use such weapons that needs to be examined, along with the motive for doing so."

"Why would Iraq, Iran or North Korea want to use weapons of mass destruction against the USA, and do they have the geographic and military capacity to do so?"

"Iran's military presence was decimated following the US supported war on Iran conducted by Saddam many years ago," explains Corinne. "Iran is unfriendly towards the USA because of its support of Iraq in that war, but it has no known program of chemical weaponry or use and it definitely does not have the geographic or military capacity to launch any sort of attack on the USA."

"Similarly, Iraq's military presence was decimated following the UN supported Gulf War of 1991," says Corinne. "The Gulf War was legitimate as it was a consequence of Iraq's invasion of Kuwait - a protectorate set up by Great Britain to safeguard oil supply -and Iraq is definitely unfriendly towards the USA because of its participation in that war. But despite its past program of chemical weaponry and the use of same on its own dissidents Iraq has willingly accepted UN inspectors to confirm it has no ongoing program."

"Iraq was a hardly a threat to the US in terms of weapons of mass destruction," explains Corinne, "and it also did not have the geographic or military capacity to launch any sort of attack on the USA."

"Also," adds Corinne, "it may have had the geographic capacity to attack British protected Kuwait and US protected Israel but it did not have the the military capacity to do so. It was no real threat."

"Unlike Iraq and Iran, North Korea has nuclear capacity," says Corinne. "It has a formidable military presence and has been locked in a stand-off with America over the US protected South Korea for nearly half a century - a situation that is getting worse rather than better over the years."

"If the potential to produce and use weapons of mass destruction against the USA were truly the main concern of Bush," explains Corinne, "then North Korea would have been the logical target, not Iraq, because its regime is secretive - nobody knows what is going on there."

"Geographically, North Korea does not have the capacity to launch any sort of attack on the USA, but it most definitely does have the geographic capacity as well as the military capacity to attack Japan and US protected South Korea."

"North Korea, not Iran and Iraq, is thus a far more potential enemy for the USA," says Corinne, "but to impose any sort of action on North Korea in terms of the War of Terror cannot be justified without a terrible price being paid."

"North Korea is isolationist and pays no attention to UN dictates. To achieve security from any sort of attack by North Korea, America would need to use massive military force."

"Support for a war on North Korea would not be gained at home," says Corinne," nor in the UN. There is nothing to tie North Korea with 9/11 or any terrorist activity."

"Furthermore, victory would be not assured against such a formidable military force as North Korea, and basically there would be nothing tangible to be gained by going to war with North Korea - expect, of course, for the reunification of the country."

"Similarly, although targeting Iran would be easier in terms of a fundamentalist Islam connection - possibly an al-Qaeda link," says Corinne, "there is nothing tangible to be gained by such action."

"So, we're left with Iraq," sighs Corinne. "There's everything to gain in terms of the world's richest oil fields, and nothing much to lose besides a bit of human collateral. It was expected to be a pushover and initially it was."

"After the quick and relative painless Afghanistan pushover, the military machine was fired and ready for more," explains Corinne. "Bush couldn't get Osama and the al-Qaeda, so he needed another target to wreak revenge on for the 9/11 tragedy."

"Iraq was the perfect target and Saddam was the perfect scapegoat."

"Iraq is a Islam nation so it was not be too hard to foment fear at home that it is harboring some terrorists," explains Corinne. "It was a pushover in the 1991 Gulf War and was weakened by 12 years of sanctions against it and would be another easy victory."

"Also, Iraq is unfinished business," explains Corinne. "Bush's father had wanted to get rid of Saddam but the UN didn't sanction a regime change. Despite the UN not supporting a war, Section 1433 gave the USA a loophole to go in and invade the country on its own if necessary."

"Bush maintains that the potential to produce and use weapons of mass destruction against the USA was a valid reason to focus attention on Iraq," says Corinne, "and in failing to allow the UN weapons inspectors the time they need to do their job and prove Iraq's claim that it had no such weapons, Bush showed that he wants war and revenge for 9/11 and that weapons of mass destruction had nothing to do with it."

"Because Bush knew that Iraq had no weapons of mass destruction," says Corinne, "he needed a big excuse to go to war and win the support of allies."

"This excuse came in the final weeks before invading Iraq when rumors were spread that Osama and Saddam were in cahoots," says Corinne. "This was a lie because Osama hates Saddam and his liberal Islamic beliefs more than the Americans do, and vice versa!"

"And then finally Saddam's human rights record was trotted out."

"Very few people had cared about Saddam and his human rights abominations before this," explains Corinne. "All of a sudden, the world's attention became focused on shredding machines allegedly used for human extermination."

"All other despots and their human rights abominations were conveniently ignored."

"I watched in disbelief as the world was whipped by the US propaganda machine into wanting to get rid of the Saddam regime," sighs Corinne.

"A war ostensibly against weapons of mass destruction had become one against Saddam and his regime."

"Saddam had supplanted Osama."

"As nasty as Saddam is," says Corinne, "he had nothing whatsoever to do with 9/11 and to use him as a scapegoat for Osama's abominations is an abomination in itself."

"The whole nasty operation was so similar to the sort of office politics that go on where my husband and I work that I despair of any imperfect human goverment being capable of governing us honorably and rationally," says Corinne. "We'd be better off with computers doing the job."

This story first appeared as saddam the scapegoat

subprime winners and losers

Because of our global economy and the ongoing war on terror, Phyllis points out that the current subprime credit crunch could very well be the result of deliberate economic warfare against us and if so what happens next will be far more devastating than 9/11.

"When the French bankers froze billions saying words to the effect that the complete evaporation of liquidity in certain US securitization markets has made it impossible to value certain assets they were telling us that we're on shaky ground," says Phyllis. "And when the Saudis do the same thing -- and the Chinese -- we will be exposed for what we are, a nation existing purely on credit and nothing else."

"While I feel sorry for our own people who have lost their homes, jobs and investments," says Phyllis, "I feel sorrier for the poor people in Third World countries who were suckered into signing trade agreements with the USA because their economies are going to crash first when the final crunch comes."

"Investors rely upon a system of checks and balances (audits) to give them a level
of security as to where their money is parked," says Phyllis, "but when these rogue financial institutions were audited, why weren't the potential liabilities picked up?"

"Also, when credit requirements are relaxed without a corresponding increase in bank reserves to cover the risky loans, you not only have an entirely new class of home owners but a new level of risk, too."

"Have we been misled or deliberately cheated by enemies among us wanting to ruin our economy?" asks Phyllis. "Why didn't someone recognize something funny was going on and blow the whistle? You know, like the pilot training operators who skilled up the 9/11 suicide bombers."

"When the real estate and the mortgage people walked off with their profit, leaving the hot potato subprime mortgages to be bundled together and shipped around the world until they were unrecognizable, did they know they were involved in economic warfare? Or didn't they care?"

"The bankers are all sitting on their profits acting smug as though they had nothing to do with it, and so are the mortgage companies and the real estate people," sighs Phyllis. "Whatever, the finger is pointing very strongly at the government for allowing this debacle to happen in the first place by relying so heavily on foreign money."

"Didn't it tell us after 9/11 to go out and shop and keep the economy afloat?" asks Phyllis. "Well, that's exactly what we have been doing, all on credit, and now look at the mess our shopping sprees are getting us into."

"China's economy is based on our rampant consumerism, and as more of us lose our homes and jobs we are not going to have the money to splash around and we will take China down with us (if she doesn't pull the plug on us first)."

"The damage isn't just in the subprime market," explains Phyllis. "It's also happening in the regular mortgage market. People who qualified for home loans with good credit, a solid deposit and a low fixed interest rate are also experiencing foreclosure."

"Job losses, outsourcing, off-shoring and lax regulation of financial institutions and funders have all contributed to collapsing real estate markets in many parts of America," says Phyllis. "I have no idea what the banks and other lenders are going to do with an inventory of foreclosed properties that they can't auction off to recover even a percentage of their investments, but I do know that by allowing this situation to develop all of the people involved were guilty of colluding in economic warfare."

"News of financial instability in the USA has really spooked international stock markets and because of the global economy each and every one of us -- at home and overseas -- will be paying for this in any number of ways as the effect ripples through."

"Already, many nations are buying Euros not American dollars, and when the USA loses its financial pre-eminence, like Great Britain did after WWII, we are finished as a world power."

"When you have European, Australian, Chinese and Japanese central banks bailing out American businesses you get to wonder whether we are already a third rate nation."

"When a French bank freezes funds, and China threatens to dump their $1 trillion in US currency we should really worry," says Phyllis. "China has been keeping its export wealth in US Treasury Bonds, which they presumed were secure. They are easily converted to cash and if China pulls a trillion dollars out of the US Treasury in fear of an impending crisis due to the ripple on effect of the subprime credit debacle we are sunk."

"Thanks to the globalization programs, the trade agreements pushed by Clinton and by Bush -- and the dishonesty of the corporate media -- our future now belongs to China," laughs Phyllis. "But don't worry, I don't think China is likely to pull the plug until after the 2008 Olympic Games."

"Wherever he is, Osama bin Laden must be laughing his head off at what is happening -- with or without his input -- because economic warfare is ultimately going to be more devastating than any of the actions taken by his suicide bombers -- and less bloody, too."


(Phyllis' story first appeared as subprime economic warfare? and is reprinted with permission.)

the global war for oil

Mercedes is an 19 year old student living at home and all she wants to talk about is the war on terror and the conflict in Iraq which, to her parents' dismay, is not helping her get good grades and get ahead in life.

The first question Mercedes asked everyone after 9/11 was 'why?' and although it was not given directly to her the answer ultimately came from Osama bin Laden himself.

"He once said that all terrorist acts would stop once America pulled out of the middle east and minded its own business," explains Mercedes.

"Clearly, by pushing into parts of the world where they are not wanted," adds Mercedes, "American business interests, and the military might that supports them, are inciting more hatred and exposing more and more innocent people to acts of terror."

"When neighbors get together to protest against an industrial development in their area," explains Mercedes, "they are often successful in thwarting the development, or having a say in modifying how the development takes place."

"If they are unsuccessful, they have the option to sell up and move on."

"What say do people in poor countries have when wealthy American business interests move into their area?"

"None, I'd imagine," says Mercedes, "and that's why these people have to resort to terrorist attacks. They don't have the option to sell up and move on like we do."

"It's like the situation in Northern Ireland and Israel, isn't it?" muses Mercedes.

"Faced with the might of the British armed forces the Irish wanting a united Ireland have no option but to resort to terror to get the Brits out of Northern Ireland."

"And having lost most of their country when Israel was created as a homeland for displaced Jews following WWII the Palestinians are in a similar situation," explains Mercedes.

"It seems to me that terrorist attacks are nothing more than acts of desperation made by people who are denied justice." says Mercedes, "and old style wars where one country openly fought another over a disputed territory or belief are just that -- old style."

"Terrorism seems to be the new style of warfare these days," remarks Mercedes, "and it's no longer nation against nation but little people fighting huge nations or corporations."

"I guess we've got far too many business interests in other parts of the world to pull out and become, once again, an isolationist nation, minding our own business," says Mercedes, "but I truly believe that ultimately we are going to be forced by unrelenting terrorist attacks to face the fact that we are responsible for what happens to us."

"I don't believe that terrorist acts committed by desperate people who rightly or wrongly believe that their rights have been trodden on by a big nation or corporate interests can be stamped out."

"Just think about it -- we use more oil than the rest of the world put together," sighs Mercedes. "The only reason we're interfering in the middle east and fighting in god-forsaken deserts is because that's where the oil is."

"If there were no oil in Iraq," says Mercedes, "we wouldn't be there."

"And if gazillions could not be made from reconstructing a country we have bombed to pieces we wouldn't have done it."

"I am deeply concerned that at soon as we invaded Iraq we headed straight for the oil fields and as soon as the bombing of cities started the tenders went out for rebuilding them," sighs Mercedes. "Doesn't that indicate quite clearly what the war is all about?"

"The war in Afghanistan was a just war for just reasons," adds Mercedes. "There was no money to be made from it and I suppose that's why we didn't go after Osama and the al-Qaeda network when we had routed them."

"There was no money to be made from pursuing Osama and the al-Qaeda, right?"

"But there's plenty of money to be made from invading Iraq, isn't there?"

"I've come to the conclusion that the axis of evil rhetoric was just a smokescreen for the real target, which was always going to be Iraq," says Mercedes.

"We stood to gain nothing but trouble by invading Iran or North Korea," adds Mercedes. "Both of these countries might be construed as enemies of the USA and potential threats to our security, but they have no great commercial value to us."

"I was thinking of doing some travel after finishing my studies," sighs Mercedes, "but now I wouldn't dream of getting on a plane or traveling through countries that hate us."

"I don't particularly feel safe at home, either," adds Mercedes. "You never know who is plotting against us -- more particularly American business interests, and the military might that supports them."

"If this is the price we must pay for being a rich and powerful nation then is it worth it?" asks Mercedes. "What am I studying for if we are going to be hit at home with more terrible acts of terror against our illegal involvement in the affairs of other nations?"

"Why can't we be like Sweden or Switzerland and mind our own business?"

(Mercedes' story first appeared as it's all about oil and money and is reprinted with permission.)