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8/14/2019 World Currency and Economic Meltdown
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2008 Wendell W. Solomons
World currency andeconomic meltdownAnalysis and solutions
for a developing nation
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Economic growth in agrarian economy
based on sharecropping e.g. Andesystem
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Economic growth pattern in
commercial economy
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Booms and Busts
A commercialised economy becomes part of a
national and a gigantic circulatory system of theworld.
Links of finance and credit lead to the dominance
of banking institutions. Such networks make itpossible to deploy investment rapidly.
The Newly Industrialised Countries (NIC) of Asia canserve us as examples.
They benefited in the 1950s thanks to the transfers ofknow-how and showers of investment capital. Still, theirrapid growth came to be pruned later in 1997 by the AsianFinancial Meltdown. This was explained by MohathirMohamed as a market run caused by powerful money
men.
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You shall be wise as gods
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Powerful Money MenThe 1-sq-mile financial city of London remains a hub of capital.
That followed the year-1694-chartered Bank of England that was
set up as a private financiers union or guild.
In the aftermath of World War II, this institution was, however,
converted by a Labour government in 1946 into a public sector
Central bank.
Londons financiers reacted by shifting their weight to the privatebank union that they had set up across the Atlantic in the USA. As
former BBC journalist Greg Palast reveals in a recent book, this
wasthe best democracy that money could buy. (1) Paul Warburg
had been consignedthere with his German passport as cover in
1907. (2) Londons finance moguls used the label US FederalReserve System to disguise their union of private banks. (3). This
syndicate was granted a monopoly on the issue of the US dollar on
23rd December 1913 at a time when Congressmen were busy with
preparations to leave for home for Christmas.
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Finances and consequences
of insider-trading
The Bill of 1913 held out a guarantee that the US Treasury Secretary wouldsend a request for new dollars before the US Federal Reserve consortium
could issue banknotes.
Behind the scene, insider-trading would help. In 2008, for instance,
Treasury Secretary Henry Paulson arrived as a long-term principal of
banking house Goldman-Sachs. Previously, Robert Rubin in the ClintonAdministration, came from the same private bank.
The consequences that follow insider-trading were seen by J K Galbraith, a
Canadian-born professor who served as President John Kennedys
Economic Adviser. Born a British subject, Galbraith would have drawn
lessons from the debate on the nationalisation of the Bank of England in
1946.
To limit insider-trading President Kennedy decided to return to a Treasury
dollar supported by silver that would ultimately replace the private issue
banknote. On 4th June 1963 President Kennedy signed an edict facilitating
the US Treasury issue of a dollar backed with silver.
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Aristotle-Revolutions
are no trifles,
but spring
from trifles.
President
John F
Kennedy
Those who
make peaceful
revolution
impossible will
make violent
revolutioninevitable.
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Treasury dollarPresident
Kennedy had
equipped the
Treasury to
return with full
operationalspeed to the
practice used in
the previous
Century. An 1866
silver-backed
note of theTreasury (issued
without private
banking inter-
mediaries) is
shown here. No
pyramid is seen
on the reverse.
Six months after President Kennedy streamlined the emission of the Treasury
dollar, he was shot on 22 November 1963 in Dallas, Texas. A day afterwards,
Texan Vice-President Lyndon B Johnson, signed an order withdrawing theTreasury dollar from circulation.
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Mystery still surrounds the Kennedy shooting. Yet, this photograph taken bynewsmen remains available in public record. Jack Ruby shoots at shortrange to seal the lips of alleged assailant Lee Oswald when being moved
between jails. FBI agents were then controlled by the controversial Edgar JHoover.
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Jack Ruby (thegang name of Jacob
Rubenstein)is an unlikely sympathiser of
President Kennedy. The Stardust Casino
syndicate used him at the time to run a girlie
show following youthful years spent as a street-fighter. The contrasting next illustration shows
economist Milton Friedman. He had come
forward as advisor to Presidential-hopeful Barry
Goldwater in the election of 1964. Their attempt
at regime-change dipped when journalists
discovered that Barry Goldwater was regularly
hosted by the Flamingo Hotel in Las Vegas that
was controlled by the same Stardust Casino
syndicate.
It took Friedman another 12 years to book in as
Presidential Economics Advisor. His track metRonald Reagans through easy money capital
Las Vegas where in stage announcing for girlie
shows, sponsors picked Reagan to run for state
governor. Milton Friedman - used to
strike back ateconomist J K Galbraith
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Adjusting perception
Any notions about the backing of the US dollar with ounces of silver or
gold were removed by President Richard Nixon in 1971 ignoring FrenchPresident de Gauls apprehension.
From 1976 onwards, Milton Friedman - called a cheer leader of finance
capital - contributed his perception adjustment that would extend financiers
control. This adjustment, carried by global TV, was intended to dissolve
any community bonds and increase the vulnerability of the bankers prey,
nations of the world. Friedman produced a book entitled Free to Choose.
This was turned into a video series and piped through the family TV for
perception adjustment.
The trap Friedman used was an appeal to vanity through which social
concerns are downplayed. It encourages the forgetting of ones neighbour.
It encourages opportunism. You take a trip to heaven on the other mansshoulders.
Because my neighbour would want to travel on my shoulders and I on his,
we frustrate our purposes and productivity. Frustration and productivity
slowdowns require that nations go to globalist money lenders who charge
nations for loans.
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Perception adjustment leaves people imagining that they enjoy
the invulnerability of gods. In this myth, the other man is clumsy
and rough. That man will fall if the branch of the tree is cut.
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Side effect of the disruption of the Kennedy
Treasury dollar backed with silver
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Side effect of the disruption of the Kennedy
Treasury dollar backed with silver (2)
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Solutions 2Developing countries, and especially ones without petroleum deposits, are
highly vulnerable.
Exports Companies must enhance intra- and inter-firm cooperation to
safeguard country revenue. Visible, focal projects are vital.
In Sri Lanka, jewellers organise the annual FACETS exhibition for jointpromotion of gems to new buyers. In the Joint Apparel Forum, the Garments
industry has formed a platform for unity.
Imports - Revenue from exports, from new international sources of credit and
from resource savings are needed for imports of petroleum, wheat, rice, lentil
and other legume protein, tinned fish, milk powder, pharmaceuticals, sparesand more.
Services - Sri Lanka must have access to energy products for transport and
lighting. City services such as water purification, sewerage and garbage
disposal must be maintained.
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