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War-Mongering: Brought To You by Wall Street
by Jim Carter
Special to L. Neil Smith’s The Libertarian Enterprise
Professor Michael Hudson recently had an interview with Bonnie Faulkner of Guns And Butter1 He went into lengthy and repeated detail of how the IMF and WB, as agents of the United States , are structured to impose exploitation of natives [which include induced migration] for the benefit of holders of oppressive national debt.
Mr. Hudson is a self-avowed Marxist economist who debuted with Chase Manhattan Bank. 2 This writer considers him an erudite shill for Wall Street’s oppressive exploitation—which he details and attributes to the US government.3
In the interview, he declares: “This control by the U.S. financial system and its diplomacy has been built into the world system by the IMF and the World Bank…” He wants the readers to place the onus of societal chaos initiated by the IMF and WB on the U.S. government. He studiously avoids any mention of Wall Street or bankers. Yet it is Wall Street that write the loans, with the future conditionalities of the WB and IMF, which crush the foreign nations; the U.S. government receives nothing.
Hudson mentions John Perkin’s book on economic hit men which link the WB and IMF, through cutouts, with Wall Street. Michael allows Wall Street to hide behind the curtain and the world sees only the IMF, WB and government. This anomaly is a common practice among the MSM. Unfortunately, U.S. travelers (and even US citizens at home) frequently face the wrath, and terrorism, of indigenous citizens of countries that have been devastated by Wall Street. The hiding of WS’s involvement, and funding, also diverts attention from similar homeland abuses away from the perpetrator.
Hudson identifies the exploitation and impoverishing of foreign nations is enforced by the CIA and the US military. Previous documentation by William Blum in Killing Hope; CIA and US Military Interventions and Michel Chossudovsky in Globalization of Poverty [also WAR] and the New World Order agree with Hudson’s observation. Hudson chooses to ignore Stephen Kinzer’s Devil’s Chessboard and David Talbot’s The Brothers that evidence Wall Street’s recruitment of their crony Allen Dulles to create the CIA was so WS can conceal their nefarious acts behind national security.
Michael relates: “I began lecturing once a month at $3,500 a day, moving up to $6,500 a day, and became the highest-paid per diem economist on Wall Street for a few years… I was immediately hired by the Hudson Institute to explain Super Imperialism [Hudson’s book] to the Defense Department. Herman Kahn said I showed how U.S. imperialism ran rings around European imperialism. They gave the Institute an $85,000 grant to have me go to the White House in Washington to explain how American imperialism worked. The Americans used it as a how-to-do-it book.” A candid reading of this would conclude that Michael went to Washington to instruct bureaucrats, and especially the Defense Department, how they would personally—and individually— benefit if they assist Wall Street in securing the loans. There is no suggestion of interest in preventing the chaos brought by the IMF and WB. In realty, it appears the assistance of government’s participation was being sought. That Michael’s speeches could also be a recruiting ground for a foreign bureaucrat to volunteer assistance in legislating a tax guaranteed bond issue for a spectacular lucrative fee should not be overlooked.
Michael is proud that his speeches of how to make profit from the bankrupt international loans have been of interest to affluent investors. For $2500 you might be able to obtain permission to attend a future speech. If you operate on the cheap, he claims one paragraph of his book has been worth $240 million. And that claim exposes the mendacity of his con job.
The profit comes from the ability to buy bankrupt national debt for pennies and then to sell for face value. The specifics of foreign handling of such a situation in unknown, but the structure of such an operation in the U.S. is readily visible. It is assured that the handling is similar. The speech attendees are being promised pie in the sky from any future default on US national debt.
The Federal Reserve Bank of New York has exclusive control of payments for the redemption of Treasury securities. (Ref. 31 CFR 375.3.) It is only the FRBNY who will pay for any national debt claim. If you think they are going to pay you face value for the security you bought for pennies, you are living in a fool’s paradise. They will redeem securities held by the [alleged] owners of the FRBOG, Inc.; i.e., select Primary Dealers. PD’s historically maintained exclusive access to redemption of securities. Recent legislation granted large holders of T-securities limited direct redemption without PD discounts. Only elite one percent will get face value during any national bankruptcy. If any deplorables have been able to sell their penny purchases of bankrupt Greek national debt for face value, I will be forced to apologize.
The buying of foreign bankrupt national debt, which Hudson appears to promote, moves assets to the banks of foreign nations. It is then accessible for international bankers (including Wall Street), who are confiscating the wealth of the affected nation, to seize. Is this the goal of Mr. Hudson?
After Michael works to get the involvement of the US government, including the military, he then castigates the government action as evil imperialism. Nowhere does he reveal that the economic benefit of the nefarious acts he so eloquently delineate goes to Wall Street financiers and not to the government. Nowhere does he identify the IMF and the WB as being WS extensions controlled by Wall Street with their 15% minimum ownership. Nowhere does he even whisper of oppressive methodology developed and used by Wall Street since the reign of Franklin Delano Roosevelt occurring in the US. [Michael identifies FDR developing grain control as part of the agenda. FDR also confiscated gold to facilitate deficit spending by Wall Street and started social security which quickly became another tax for general revenue].
Some people see similar oppression has, and is, currently being imposed within the United States. (Ref. CIA As Organized Crime by Douglas Valentine. An early corroborative act between WS and FDR was to develop a 17 month agenda to impose sanctions on Japan, evidenced by official government documents obtained by FOIA, to deliberately precipitate the attack on Pearl Harbor. (Ref. Day of Deceit by John Stinnett. An even earlier writing by Harry Elmer Barnes, Who Started the First World War?), contends Wall Street’s $450 million loan to Britain, among $1.5 billion other loans, would have been defaulted if the false flag HMS Lusitania lose had failed to hype the US public. (Ref. [link]). Vietnam was a CIA/Wall Street drug project based upon the lie of Tonkin bay. (Ref. Deadly Deceits; 25 Years With the CIA by Ralph McGhee). Afghanistan follows the same pattern. General Smedley Butler refused Wall Street’s offer to be their dictator and seize government control in the 1930’s. (Ref. War Is A Racket). Wall Street’s initiation of international turmoil, and tragic cost of human lives, spans many decades.
The CIA countermanded President Ike’s grounding of the U-2 flights, then sabotaged the Powers flight, to thwart the Paris Peace conference with Khrushchev. They also countermanded President JFK’s authorized air attack to thwart the Bay of Pigs invasion and the CIA desire for a full US invasion. (Ref. Fletcher Prouty. The Secret Team; the CIA and its Allies.) The CIA’s involvement in the JFK assassination is well documented. (Ref. Plausible Denial by Mark Lane; Act of Treason by John Groden.) After JFK’s background phone connection to pursue peace with Moscow was discovered, he was labeled a traitor. (Ref. JFK and the Unspeakable by James Douglass.) President Carter’s firing of 600 CIA agents and the torpedoing of a new aircraft carrier is alleged to have led to CIA working to prevent his re-election. (Ref. October Surprise by Barbara Honegger.) Investigation of the CIA/US military involvement in 9/11 is left to the reader but Rebekah Roth in METHODICAL ILLUSION gives interesting insight. President Nixon closed the CIA’s school at Leadville that was teaching Tibetans how to invade China, then ruined the CIA’s straw enemy by opening trade with China, then fired 700 CIA agents. Did the CIA retaliate with a deliberately blotched CIA staffed Watergate burglary, who then deleted exculpatory evidence on their own secret tapes, and then have the MSM hound him out of office? The perfidy of Bush, an ex CIA Directory, in Iraq went to the embarrassment of Colin Powell. An orchestrated coup against President Trump has been theorized. (Ref. Killing the Deep State by Jerome Corsi.) Even Secretary of State Pompeo, a past Director of the CIA, has proudly declared the CIA instructs agents to lie to the public and to congress.
Even before the CIA was officially created, Allen Dulles hosted the deposed Shah of Iran in a meeting with Wall Street oil moguls. Promises of millions in profit were made if the Shah was returned to the dynasty’s throne. The CIA used Kermit Roosevelt to orchestrate the coup in 1953. Wall Street interests obtained rights to the BP oil fields which had been naturalized. The Shah’s brutal rule and Wall Street’s control of oil fields ended in 1979. This incident is distorted by Michael. Even today, Wall Street is beating the nuclear war drums to regain oil control for the pleasure of pathological maniacs in a world that may be totally uninhabitable from the warfare—assuming humanity survives.
The recent case of Greece exposes Wall Street’s involvement and the resultant national economic devastation. Goldman Sachs worked with Greece to impose a minor national debt. The “shitty” debt ballooned and resulted in Troika control [read Goldman Sachs] of the nation. Bureaucrats cannot pee without asking permission. Bank deposits have been seized, wages and pensions have been slashed, public assets are confiscated. The government of the U.S. had no part or benefit from the action. Economic reward, and international control, was for the benefit of Wall Street and for the 1% who exploited their own people.
Another example: Panama stiffed Wall Street on national debt which is said to have led to an airplane explosion that killed Torrijos. Noriega became the ruler and is claimed to have discontinued participation in CIA drug running and then to start organizing the OAS to resist Wall Street oppression. That was just too much. A devastating US military attack showed the world what happens if you resist Wall Street’s oppression. Noriega is imprisoned for running the CIA drugs. [The U.S. taxpayers were even forced to pay Wall Street for the defaulted Panamanian debt. Thank you, congress.]
Wall Streeter Jacob Schiff bragged that the $20 million invested in the Bolshevik Revolution was the cheapest revolution he had ever financed. His reward was the world’s largest hoard of gold seized from the deposed Czar. A Soviet defector testified to Congress in 1946 that, if timely responses to government inquires were not received, a Manhattan telephone number was available for quicker responses. Mainland China was turned communist by US government (sic) action in 1946 to provide a straw enemy and bolster defense spending. IRef. While You Slept by John Flynn; How the Far East Was Lost by Anthony Kubek.) It would be ironic if Russia and China, both of which are purchasing gold, were to destablize the US dollar. Communism would not have come to Cuba without the assistance of the US State Department. (Ref. None Dare Call It Treason by John Stormer.)
Hudson even identifies the “immigration problem” as a result of Wall Street’s oppressive involvement in Honduras which confiscated the land of peasants. [@ 29 min]. Migration has frequently been a tool for the CIA to conduct a coup.
Greg Palast has cited an internal memo identifying collection of the $20 trillion US debt as the “ultimate goal” of Wall Street. Are you ready for impoverishment?
How has Wall Street financed their globalistic oppression? There is a lot of money (new cash) from auctioned Treasury securities that disappears. A theory of embezzlement has been circulated for many months and no one has even suggested an alternate disposal. The funds involve government money being handled by a fiscal agent of the US which the GAO has standing authority to audit—but never has. (Ref. [link])
Supplement: The linked writing below seems to suggest Wall Street involvement may have expanded beyond the CIA and DOD. (Ref. [link])
3. Mr. Hudson promotes his seminal 1972 book on “…how the US exploits foreign economies through IMF and World bank debt; difference between the IMF and World Bank; World Bank dysfunctional from the outset; loans made in foreign currency only; policy to provide loans for countries to devote their land to export plantation crops; US food and monetary imperialism; U.S. agricultural protectionism built into the postwar global system; promotion of dependency on the US as food supplier; food blackmail; perpetration of world poverty preferred; no encouragement of land reform; privatization of the public domain; America aided, not foreign economies; exploitation of mineral deposits; bribery; foreign nations politically controlled at the top; veto power for US only.” (Ref. michael-hudson.com. It is Wall Street that is responsible for these actions. The U.S. government is being used to enforce them.
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