One More Casualty Of The 9/11 Farce – The Petrodollar

death-of-the-petrodollarBy Brandon Smith

It’s been about 15 years now since passenger airliners struck the World Trade Center towers on 9/11, and we are still suffering the consequences of that day, though perhaps not in the ways many Americans might believe.

The 9/11 attacks were billed by the Bush Administration as a “wake-up call” for the U.S., and neocons called it the new Pearl Harbor. But instead of it being an awakening, the American public was led further into blind ignorance. The event launched wars throughout the Middle East, energized by a strike-first doctrine which was supposed to bring unprecedented “democracy” to the region. Instead, the Middle East has now become as unstable as it was during WWII.

The penchant for Western governments to fund and train terrorist groups is now verifiable mainstream fact rather than being considered “conspiracy theory” as was the common accusation back in 2001. Pentagon papers outlining support for the formation of ISIS are available for anyone to read. The only disconnect that the public still seems to suffer from is that orthodox Republicans fail to recognize that the support for Islamic terrorism has been just as prevalent under Republican presidents (al-Qaeda) as it has been under Barack Obama. And, Democrats refuse to recognize that Barack Obama has been guilty of all the same criminal foreign policies they used to protest under George W. Bush.

There have been substantial economic consequences as well. The Iraq War alone is estimated to have cost around $2 trillion, with billions more in veteran benefits forthcoming. These numbers, of course, stop accounting for costs after 2010, when the war was deemed officially “over.” Costs continue to this day as the U.S. maintains its military presence in the region along with thousands of private contractors we rarely ever hear about.

The U.S. official national debt in 2001 was around $6 trillion. Today, the national debt has grown to more than $19 trillion. This astonishing debt accumulation is only partially due to combat operations in the Middle East; however, one must also consider the amount of interest owed on debts accrued.

There have also been numerous socio-political consequences post-9/11, including an ever expanding police state mentality which is reaching critical mass. The inevitable outcome will be open totalitarianism in the name of security, and rebellion in response.

Clearly, after 15 years of disastrous policy, it is time to admit that the U.S. response to 9/11 has damaged us far more than the actual attacks ever could.

Many of us in the liberty movement have studied the circumstances surrounding 9/11 extensively, including evidence indicating either government complicity in the attacks, or outright participation. Such a discussion is beyond the scope of this particular article, but I highly recommend anyone skeptical of U.S. government involvement in 9/11 look into the scientific data collected by Architects and Engineers for 9/11 Truth and see if your assumptions are not rattled.

Interestingly, the 9/11 truth movement may be partially vindicated in the near term as debate rages over the release of redacted and classified documents tied to the original government led investigation into 9/11. The problem is, the release of these documents is just as calculated as the original cover-up.

The fact that the involvement of the Saudi Arabian government in the events of 9/11 has suddenly hit the mainstream media this year is probably not a coincidence.

As I outlined in my article “The global economic reset has begun,” the U.S. economy has been protected since the credit crisis of 2008 by three pillars, and each of these pillars is now being systematically demolished.

The first pillar was fiat stimulus and quantitative easing. This pillar was removed through the Federal Reserve’s taper program.

The second pillar was the use of near-zero interest rates to funnel cheap or free money through overnight loans to banks and corporations which they then used in a long cycle of stock buybacks. This pillar is now being removed through interest rate hikes by the Fed, and stock buybacks will be dead before 2016 is over.

The third and final pillar holding up the U.S. economy is the dollar’s world reserve status — the dominance of the dollar around the world as the primary currency used in international trade.

World reserve status allows America to maintain extreme levels of debt creation and protects us partially from fiat hyperinflation. Because so many dollars are needed by overseas governments and corporations for international trade, the Federal Reserve has been able to perpetuate massive stimulus programs without all the money created immediately burying the U.S. system as what happened in Weimar, Germany. The problem is, if the dollar ever loses world reserve status, the unknown amounts of dollars created by the Fed and held overseas will come flooding back to destroy the illusion of our currency’s value.

The dollar’s world reserve status is highly dependent on the fact that it is the petrocurrency; the vast majority of oil purchases around the planet are made only in dollars. In fact, most oil producing nations will not sell their stock unless dollars are used.

The dollar has enjoyed this awesome advantage primarily because of the relationship between the U.S. government and Saudi Arabia.

For now, Saudi Arabia is still the largest holder of oil production market share in the world. This market share has been declining somewhat recently due to falling global demand and more specifically falling U.S. demand, which has led to more vicious competition from other producing nations, including Russia and Iran.

Falling U.S. demand by itself has perhaps led OPEC nations to question the continued validity of the dollar as the petrocurrency. In November of 2015, the Saudi government hinted at the possibility that they might depeg from the U.S. currency entirely. This act alone would essentially destroy the dollar’s petro-status. The conundrum facing the Saudis was increasingly low and unstable oil prices to which the petrodollar adds a level of uncertainty. Mainstream analysts argued that Saudi Arabia may be forced to choose – either cut production to increase prices, or end the dollar peg and stabilize prices, by switching to a basket of currencies instead (Special Drawing Rights, anyone?!).

Obviously, after the engineered absurdity at the Doha meeting this month, there is absolutely no chance in hell that Saudi Arabia will commit to any substantial cuts in oil production. In fact, the Saudis have just announced that they may expand oil fields in order to increase production to even greater historical levels.

So, oil prices are going to remain low for now, and will probably fall exponentially if a battle for market share between Iran, Russia and Saudi Arabia goes nuclear, as I have predicted. This would suggest that the Saudis will end the peg to the dollar within the next couple of years.

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As I wrote in my article “Economic crisis goes mainstream; what happens next?” an oil price panic could lead to conflict between Saudi Arabia and the U.S. and disrupt the petrodollar. And, this would precipitate the fall of the dollar’s world reserve status; meaning, the globalists would get exactly what they want — the death of dollar dominance and the rise of the SDR system under the IMF as a prelude to global currency and global economic governance. However, another catalyst from left field may be needed. A sort of black swan event… enter the 28-page “secret chapter” of the 9/11 congressional inquiry.

Supposedly, the documents are a bombshell linking the Saudi government directly to the 9/11 hijackers and exposing their aid to said terrorists. Despite Obama’s supposed peace offerings to the Saudis, the White House is still said to be “poised” to release these documents to the public in the near term.

The Saudis have responded with extreme anger, and have openly threatened to dump their $750 billion in U.S. treasury holdings if the documents ever see the light of day. This would invariably end the Saudi peg to the dollar and thus end the dollar’s petrostatus, which would then expedite the end of the dollar’s world reserve status. It would be a catastrophe.

The set-up is perfect. The liberty movement gets some vindication that there was indeed a conspiracy surrounding 9/11, but the true scope of that conspiracy remains hidden as the Saudis take the brunt of the blame. The Saudis get an opportunity handed to them on a silver platter to kill the dollar peg, an action they have been planning for quite some time anyway. The U.S. government then becomes partly responsible (in the public eye) for opening the door to the destruction of the dollar, a process which the globalists at the International Monetary Fund (IMF) and the Federal Reserve have been planning for decades. Then the IMF can swoop in post-crisis with the SDR basket system to replace the dollar’s world reserve structure.

We then have immense global economic change triggered by nothing more than a 28-page document, but predicated on years of careful staging, planning and choreography. Once again, the globalists have conjured a theatrical circus which they may use to end the American economy as we know it.

We will have to wait and see if the 9/11 documents are released, and if the Saudis follow through with their threats. But consider this; who really benefits in the end in the wake of these developments?  Such a move would certainly only serve the interests of international elites in the long run.

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44 Comments on "One More Casualty Of The 9/11 Farce – The Petrodollar"

  1. “… since passenger airliners struck the World Trade Center …” Surely NOT!

  2. Many professional pilots have said regular passenger jets could not have performed the required maneuvers at those speeds to be the actual “things” that struck those buildings. IMO they could have been highly modified military jets, similar to cruise missiles but with reinforced wings. And there is no proof whatsoever passenger jets struck the Pentagon or crashed in that PA field. If the whole truth actually comes out, more than the petrodollar will crash. You can bet on that.

  3. Lawrence Ambrose | April 27, 2016 at 10:14 am | Reply

    Hmmm…the elites went through a lot of work and a few wars to preserve the petrodollar. Seems strange to assert that its collapse was what the elite wanted all along. Heck, without the wars and threats of war the petrodollar would’ve collapse a long time ago, no?

    • To use the U.S. as the military fist they needed the U.S. being a strong nation, economically. But this is just for a while until the U.S. has served it’s purpose.

      • Lawrence Ambrose | April 27, 2016 at 11:45 am | Reply

        That does make sense. Ultimately, U.S. power – as useful as an enforcer of the elite as it is now – would become a hindrance to world government. It’s kind of a “withering away of the state” deal in the Marxian universe, where the state’s supposed to fade after its served its purpose. Of course, that didn’t quite go as Marx predicted ;-). and perhaps the US demise won’t go quite as the globalists intend. Perhaps Trump might have something to say about that – possibly delaying the process. Or not. We may see soon enough.

        • London the world bank, DC the world cops, and the Vatican the world religion. That has been there plan since before I was even born. (Ike 1)

          • Sunshine49 | April 27, 2016 at 3:39 pm |

            I don’t think the Vatican will be the world religion because Satan will be ruling from Jerusalem. Standing in the Temple of God, proclaiming himself God.

          • That’s right, it will. It will keep the other 3 on a short leash.

          • Sunshine49 | April 27, 2016 at 4:54 pm |

            Actually the Bible says that there will be ten kings who will be given power for one hour with the beast, but they haven’t been given their kingdoms YET! I believe the US will end up being one of those kingdoms. The rest of the world will fall into line because of the power of these ten kingdoms and Satan will have his one world order.

          • People seem to over-look the role of the catholic church lurking in the back ground. Even from the collapse of the roman empire it arose from the ashes…

  4. Here’s what I don’t get: how can the IMF undermine the US when the US is the dominant force in the IMF, with nearly 3 times more voting power than the next nearest nations and 3 times the quote of SDRs than then next nation, more than the next 3 nations?

    The XDR (SDR) basket is 42% US dollars. How can the IMF, which is dominated by the US, be used to undermine the US?

    • I think you are confusing the IMF with NATO. The IMF is all international bankers and our Federal Reserve is privately owned like the central banks all over the world. The IMF decides how all these central banks will operate and what currency they will use. “They” are the ones who are controlling the world and the US has NO say-so in what they do. Through money they are able to control the governments of these countries — including ours. As long as the Federal Reserve exists and controls our money we are under the control of the international bankers.

      If you read a Bible it will tell you that Satan WILL get his one world government for three and a half years before Christ returns. The purpose of collapsing the economy will be to institute the mark of the beast from a worldwide financial collapse. They have been setting it up that no money will exchange hands but everything will be done by electronic transfer so that they can have control of most people on earth. Third world countries will not matter because the people there have nothing that they can use to fight back. You won’t be able to do anything (buy or sell) without the mark of the beast. That is where all this has been leading since 1913.

      • I ould wager I know more about the IMF and NATO than you, based on your misstatement that “The IMF is all international bankers.” It is a consortium of 189 nations which contribute money to form a kind of bank, which then makes loans. Independent banks do not belong, as it is an organization of nation states. The US dominates, 3 times more voting power than any other nation and 42% of the funds (XRS) are in dollars. The IMF does not determine how all central banks will act. It is a separate organization of nations acting as a global bank.

        NATO is the organization formed to counter the Soviet Union during the Cold War and now a larger organization of mutual defense, which has, in betrayal of agreements made in 1990, expanded into 11 former Warsaw Pact Nations. The US also is the largest funder and effectively controls NATO: he who pays the piper calls the tunes.

        You are clearly uninformed, and you do not understand my question. which challenges this statement in the article: “Then the IMF can swoop in post-crisis with the SDR basket system to replace the dollar’s world reserve structure.”

        Since the dominant force in the IMF is the US, with 3 times more votes than any other nation and with 42% of the SDR fund in dollars, how can the IMF, which is largely controlled by the US, be used to undermine the US and its currency?

        As for your religious nonsense, I am not in the least interested, as that is all a matter of belief and I am interested in reality;.

        • How do you think the IMF institutes it’s monetary policies if not through the central banks within each country that are its “members”? From what I’ve read there are already other currencies being used besides the US dollar for world trade. IF the US was controlling the IMF, why would they even allow that? The IMF sounds benevolent on the surface just like the Federal Reserve, but it’s policies have hurt countries it’s supposed to help. Maybe you should do some more research on the IMF.

          You may think it’s religious “nonsense”, but remember what I wrote when we go under a one world order. It will be very “real” to you then.

          • The IMF uses central banks to execute its orders. The IMF exercises control only on those programs involving loans and conditions. In all other respects, central banks are independent.

            “The U.S. government has by far the largest share of votes in both the IMF and World Bank and, along with its closest allies, effectively controls their operations….What the IMF and the World Bank do is lend money to governments……As to the source of their funds, the IMF gets most of its money as subscriptions from member governments-the amount determining the number of votes each government has in running the operation. ”

            42% of the money in the IMF SDR’s is in Dollars. This gives the US control. There are other currencies but its hard to see how the IMF, which is basically under control of the US, would be used to undermine the US, as the article states.

            I am not supporting the IMF but seeking to explain how it works. It obviously works in the interests of those who control it, who are government officials, almost always coming out of the banking industry.

            I support a One World Order, since nationalism has led to over 100 million deaths by nations fighting under nationalistic principles in the past 100 years. I however do not support an elitist world order, controlled by the tiny elite which owns most of the world’s wealth.

            I support a democratic world order, of, for, and by the people.

            Our problems, from global warming to pollution to immigration to poverty transcend national boundaries (which frequently change) and can only be addressed on a global level. I do not support any institutions which are not run on democratic principles……..

            I would like to see the UN reformed so it is not controlled by a handful of powerful nations and has the world’s worst human rights abusers (like Saudi Arabia) on its Human Rights Commission.

            One World, on Love: democracy is the recognition that all people are equal in value and have an equal voice in how they are governed, with inviolable rights and accountablity.

            I would like to see the Big Banks broken up and municipal, state, and a national bank replacing them, so that they serve not private interests but the public.

          • Sunshine49 | April 27, 2016 at 4:28 pm |

            I agree with what you are saying, but my belief is that the only one world government that will work will be under God’s rule and not man’s rule. Our Founders attempted to form such a government with the consent of the governed, but as you can see it has failed. A few have taken control over the many through years of lies and deceit. We have become the most regulated people in the world and we are controlled through money and fear of what the government can do to us.

            It’s strange that you don’t believe in any religion when the world you want is the same as the world that God has promised in the Bible when Jesus returns. Maybe someday you will be able to see how they are the same so keep your hope for a better world in the future. It WILL happen!

          • Dont waste your time on Dale. He is payed to be on this site…

          • You are paid to libel other people who voice opinions you do not like but do not have the brains to refute with rational discourse.

            Here is Script #1 for paid trolls: call out others for being paid trolls. Misspell “paid” to look authentic.

            Who pays you, Brett?

        • If you read “Elite that controls the Matrix” instead of “IMF”, then it would make more sense.

          • “The state is the instrument of the ruling class…….”

            I learned about elite control when I read Marx at age 19. Here’s an interesting perspective:

            Marx in the Mirror of Globalization

            By Peter Hudis


            One interesting—some would say surprising—aspect of

            the ongoing discussions and debates about globalization is

            the renewed interest being shown in the ideas of Karl

            Marx, which only recently seemed to have been consigned

            to the dustbin of history. In the journalistic and academic

            worlds alike, a number of reappraisals of Marx’s work are

            appearing that identify the 19th-century thinker as “the

            prophet of globalization” because of his focus on capital’s

            inherent drive for self-expansion and technological innovation on the one hand and its tendency to

            exacerbate social inequality and instability on the other.”

            Marx perfectly predicted the future of capitalism as it is unfolding today over 150 years ago……. he was that far ahead of his time.
            All so-called communist nations sought to build socialism on a history which had not yet evolved to the conditions Marx describes as the future of capitalism. He thought The Revolution to transform society and move beyond capitalism to the next stage would take place in the most industrialized/advanced nation: that would not be Russia in 1917 or Cuba in 1959 or North Korea in 1954.

            The most advanced industrialized states, the most capitalistic, are the United States, Germany, and, ironically, China. The Revolution has to start in the richest, not the poorest, societies.

            And so the endgame of capitalism which Marx foresaw with such clarity, based on the most intense study of how capitalism developed and takes over the world…..until, one day, people rise up from the bottom and take control. Will there be blood?

            When the moment is ripe, everything falls into place and fundamental change takes place in the blink of the eye,
            When the time is right. The moment has to come when people, together, understand that they must act.

            We are all in this boat together….why are we fighting each other?

          • knifemare69 | April 28, 2016 at 9:45 am |

            Marx was a banker puppet, and any insights he may have pretended to have were only dictations from the bankers who paid for his miserable, non-working existence. His entire ideology was nothing more than a marketing campaign to convince gullible idiots to allow central banker planning of a nation’s economy. In practice his ideas were no different than the gangster capitalism he pretended to be against. Where in communism the ruling elite is called the party, in capitalism it is called management. Same slave masters, different titles…

          • And the Communists did prove that system is not efficient enough. So the Ruling Masters aborted it in the Soviet Block.
            Now China is the model pushed by the masters. Look at China and you see what they want for us all.

          • knifemare69 | April 28, 2016 at 10:11 am |

            True, but if you go to foreign media you will find that China has thousands of civilian uprisings every year across their nation, and when the people rise up there they beat the living tar out of corrupt government officials. The little utopia the inbred western elites think they have in China will NOT play out in a way that is good for them…

          • You may turn out to be right on this, who knows !

          • You obviously have never read Marx. He was the greatest student of capitalism, including banking,and his vision of the future was of a society without classes, a state, or a central bank.

            You are parroting some far right website. I suggest you replace your ignorance with knowledge by reading Marx and learning about his life (he was very very poor) based on the facts.

            If you read my post, you will see that the nations that tried Communism were doomed to fail under Marx’s understanding that communism could only be built on the ahievements and contradicitons of the most advanced capitalism.

            But my guess is yo are not interested in the real Marx because it doesn’t fit into your narrative. The truth is that Marx was the first to understand the tranjectory of capitalism to a system of globalization and inequality, and communism in an advanced capitalist nation has never been tried.

          • knifemare69 | April 28, 2016 at 11:22 am |

            You are incapable of discerning propaganda and marketing from any kind of real academic analysis, then you have the balls to tell me that I never read Marx. Lovely. I’ve read Marx and fortunately my background in marketing allowed me to see that his pabulum is 90% marketing to gullible, ignorant sheep and 10% whatever the bankers who paid his grocery bills told him to write.

            Next you’ll be telling me that ‘Brawndo has electrolytes and it’s what plants want!’ That’s the level of credibility I give to ANYONE who promotes that banker aristocrat abortion of an ideology called communism…

          • Your accusation is wrong: I have a world class education with top rate critical thinking skills.

            You have never read Marx. I isay this because you have no understanding of his work and repeat right wing attacks, which are also based not on reading Marx but attacking distortions of his ideas.

            I dismiss your ignorance and yojr lies about having studied Marx. Your accusations of Marx are based on repeating propaganda,not knowledge of his real life.

            I dismiss you as a not serious person who doesn’t know what he is talking about.

          • knifemare69 | April 28, 2016 at 12:17 pm |

            My attacks on Marx’s idiocy are not ‘right wing,’ they are *critical thinking*, a quality you obviously lacked in your ‘world class’ education. I’m sorry, but taking correspondence courses from the Zimbabwe School of Central Banking doth not an education make.

            Marx never worked a day in his life, making him the ultimate example of the welfare mentality. He refused to even look after his own children, making modern crackhouse parenting look like Dr. Spock. These are all documented facts, which I know you are allergic to given your blind worship of the wafro-wearing banker puppet.

            Marxism is all about the centralization of money and power into the hands of a violently appointed aristocratic elite. Every single time miscreants tried applying that misguided ideology to the real world, it failed miserably like fiction ALWAYS does. The fact that you even consider communism a thing after the fall of the Soviet Union only proves your need for remedial education.

            I am done talking with you. You add nothing of value to the time I waste trying to reason with your idiocy. Good day…

          • You have not read Marx. Your criticism is 3d hand. Marx criticized the accumulation of wealth being based on exploiting labor, etc. To describe is not to endorse: his understanding and criticism of capitalism is powerful, but you have to actually study him.

            My critical thinking skills were honed and recognized at the top public and private universities in the world. You do not know what you are talking about so you resort to personal attacks. Marx spent his entire life as a writer, for books, and for journals and newspapers. For instance, he wrote for the New York Tribune for 9 years.

            Your ignorance, when combined with smugness, is ludicrous.

          • PajamaBoi | May 14, 2016 at 8:44 am |

            didn’t Marx let his children starve while he sucked off of his wealthy friends? he’s a perfect role model for losers like you.

          • dale ruff | May 14, 2016 at 5:55 pm |

            Marx’s family was very poor, as the income for radical writers was very lows. He frieind Engles was able to help him from time to time, as his father owned a factory.

            Marx’x bacground prepared him personally to experience the hardships of the working class and thus understanding on an existential level. Marx was the greatest social scientists of the 19th Century, and many of his predictions are just nonw being understood.

          • He knows exactly what he is doing, his job. There seem to be lots of these types (controlled opposition) that always touts the “official story”, but never accepts any information not given by the establishment.

          • PajamaBoi | May 14, 2016 at 8:46 am |

            Marx was a loser who didn’t want to work. I imagine you’re sucking off of someone like he did, that’s how you have the time to write your psychotic essays on internet forums all day.

      • He isn’t confused, but it’s his job to spread it and waste time.

  5. 1) The official story has been proven a cover up by all the facts and physics provided by credible experts.
    2) Even if the feeble lies were true, all of our defense organizations failed to stop a handful of men from infliction the most damage on american soil and their response was “We need more power and money to keep you safe” (Can you imagine the response any one of us would get if we asked for a raise at work to overcome all our failures. We would be terminated on the spot, and yet these guys get more money and control FOR FAILING.) Only in america
    3) The national debt is what, 18-19 trillion. There are approximately 350 million americans. I haven’t done all the math, but it seems to me that if we all gave everything we have it wouldn’t cover the debt, but each administration we allegedly vote in office is continuing the spending so in essence we are playing Russian roulette or musical chairs with this non sustainable economic policy.
    Just to recap… we can’t pay it off and are still spending. Sooner or later the house of cards will fall and the idiots in power are just rearranging the titanic deckchairs hoping it doesn’t happen under their watch while they skim off the top and get away with grand theft.
    Did I forget anything?
    Oh yes. We The People who are tasked with arresting the criminals who have stolen office are content with just watching all of this happen like it was a TV show.
    I read that rome went the same way. As they decayed, and were literally starving, the people STILL went to the games and asked if they could have the meat from the arena.
    Corruption once again will cause this decadent empire to collapse just like all the rest, but our current leaders think they are different. They’re special. It won’t happen with them. That’s what they all said.

  6. George Bush sequestered the Bin Laden family and relatives out of the USofA in a hush hush hurry hurry fashion.
    The Sauds were here and so were the 12 dancing Israelis. Jeb was part of the port security which regularly had the building blacked out. Seems the Sauds are not the only involved scum. Enemies both foreign and domestic.

  7. You don’t even now his theory. His “theory” of capitalism (that it is driven to consolidate wealth by exploiting labor and constantly globalizes) has been proven correct by events, and his vision of the future has never been tried.

    Marx was the ultimate outsider, imprisoned, exiled, and living in poverty while he spent a decade to study the history of capitalism. You make up fictions about him (actually you borrow them from others) in order to justify not having to actually study him or deal with his actual “theory.”

    I have to dismiss your accusations as both unoriginal and unsupported. A better strategy would be to actually educate your self by reading Marx and learning about the Marxist tradition. You will probably reject that option, but I have no interest wasting time with people afraid to leave the safety of the brainwashed concept that Marx was wrong, Marx was a fraud, Marx was the Devil, etc, all the propaganda the schools and the right wing media have shoved down your throat.

  8. Please tell us what a great person you are, again. Egomaniac shill.

    • I am a humble an harmless human being with a passionate love of the truth.

      Who pays you to libel others as paid shills?

  9. The “eye” – Red Schield has gotten your brains scramble-egged, turbo washed and tumble dried.
    You people will be endlessly confused and run around in the mystery bushes forever.

  10. Capitalists do not fear having their property and wealth taken over by the workers. They welcome it.

    I attended the top public and top private universities in the world, studying political theory, and Marx was never taught. The conventional academic menu is neo-liberal economics. You clearly don’t now what you are talking about: what universities did you attend and get indoctrinated in Marxism?

    Milton Friedman supported bloody dictators like Pinochet and Yeltsin, helping them destroy their economies. The Bush recession proved he was totally deluded that markets correct themselves, and his greatest student Alan Greenspan said: “We were wrong.” Bush himself said: “We had to betray free market principles to save the free market.” Monetarism is communism for the rich; austerity for everyone else. But this is not Marx’s communism, which required the total defeat of the capitalist class and the seizing of the means of production and the instruments of power by the working class.

    There is a reason that Hitler, when he finally locked up the socialists and burned the works of Marx,, was supported by the leading corporations : they both had the same enemy.

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