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How the World Pimps America

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The Worl Bank and the Bank for International Setlements Have just announced the billions of sols in the developing world that the US treasury is in fact borowing ONE TRILLION DOLLARS from them in 2009 What happends after this terrible charge money abandones the developping world? Well, it lands into US treasury bills leaving a traill of extreme social devastation all across the world But still the US treasure will have to borow another 2 trillion dollars in the next fiscal year Asian exports, in a crises economy, are shrinking, fast. So what will the US treasury do? It will have to print money, like crazy. Already last year, David Goldman formally from Bank of America and Credit Suisse He was wondering: who would finance the US deficit? It toked to the New York Times 4 months to cach up At least they did So the informed americans now know how the US is indeed a Hollywood monster Not only then leaches an horrific global financial crises But then it turns into a black hole and sucks up money from all across the world The dollar stays strong and the Obama's administration is able to rescue a greedy Wall Sreet that created the mess in the first place. This is a global crises of enormous preversity. It is a consensus among capitalists all around the world that the US should remain a sort of global manager of world's capitalism But it is also true that it is SO EASY for the US to shift the ... consequences of any crises to the rest of the world So if money stayed in the US, take a look at the rest of the world: Bank of America has better credit then Italy. Not to mention Russia or Polan. Private capital flow from emerging markets is death. Eastern Europe is going down fast. Southest Asia is in deep, deep trouble. Africa is totally out of the picture. Latin America, Argentina, where I am rigth now, is also suffering. Will the US financial system, who caused the global disease, at least profit from it? Hardly. ProfessorNureu Rubinio, of New York University, ... He saided, and I quote: "The US financial system is simply insolvent". For the moment, US capitalism and US dollar are winning. Who's loosing? The developing world. .... the returning of the living death?... ...the IMF and the World Bank: those dreaded structural adjustments? Still apply. Specially in terms of slicing workers wages and social benefits. The Ukraine, for instance, as recently declared that IMF congestions are, I quote: "Unacceptable" Translation. What do we have here? The IMF and the World Bank landing more money, to an ... of already deeply indebted and dependent countries, so they can service the US development debts. And all this with the IMF and the World Bank posing as the white nigts of the World's Big Money Landers. The US rulling class as being saying that the current crises in Eastern Europe looks like the asian financial crises of 1997-1998. WRONG AGAIN What is really perverse are the similaritys. Guess who designed the bailout of Indonesia in 1997-1998? That's rigth! Dan golden boy and the US current secretary of the tresury in the US, Tim Geitner! Already last November, the economist Dean Baker was stressing that was something very, very wrong with Geitner. He wrote, and I quote: In many ways the roots of the current crises can be atributed to de course that Geitner and is collegues followed in designing that bailout It get's worse. Last week, in ... Sydney, Australia, former australian prime minister Paul Keating confirmed Geitner got ... about it. The problem in Asia was not government debt. It was tsunamis of hot money! Geitner stoked to the standard ... Imposing to Asia what the IMF had imposed to Latin America. And that leted to China decide to build up a monster ... dollars, so would never have to come begging to the IMF. ... says that's the savings ... is the cause of the current US financial crises. WRONG! Asia saved more, to protect it self from the Freedie Kruger: the IMF. So what next? The FED and the US treasury will keep putting out TRILLIONS of DOLLARS into the INSOLVENT US financial system. And Geitner? He want's more power to the "Freddie Kruger" IMF One more ... eco of Asia in the 1990's HHe says now that things will be... diferent. Will capitalism be different? Aaah..I think capitalism will be different and the financial issue will be dramatically different. It's already dramatically different. Again, if you look at the scale of adjustment and restructuring in the financial, It has already happened. It's profound in scope, already. So if you just look at the system today relative to what was 2 or 3 years ago, and to the instutions that existed then, them and there basic shape as change dramatically;and this could mean more changes ahead. aah...and, but I think it will merge stronger This will... clean out a lot of the excesses and bad practices, And those that dont get cleaned out just by experience and knowlege now, ... better regulation over site, better rules to the game and ... But what's different about a ... capitalism tha implies, in the US, an astonishing transfer of wells from poor to rich And this was all ingeniered by the Clinton's Era Robert Rubin gang! remember those! Those of gang ... financial desregulation and buble driven ... Of wich Geitner him self was part. And across the world, this rebringing of capitalism implies the same transfer of wells from the perifery to the "Masters of the Universe", New York, in Wall Street. For the Obama's White House, the only thing that matters is to have the world by enought US debt to finance the administration's monster rescue plans For public consumption, Obama and Geitner ... of course. They ... the G-20, wich is meeting in London in early April, has to get it's act togeter. What the Headlines dont say, Is that those very exclusive US interests ... Washington consensus trougth the use of the US state Will never be the first to ... they'r owne power. The more things change, an EP despatch quotes an exiled russian revolutionary on the US financial crises. He says the crises will lead to the ... of the US Banking system, And it wont take long for the US to be out of it. More then ever, the "LORD OF GLOBAL CAPITALISM" This despatch is dated March 17th, 1933. It's in these book here, found in a book shop here in Buenos Aires. The russian, he's name is Leon Trótski.

Video Details

Duration: 10 minutes and 57 seconds
Country: United States
Language: English
Genre: None
Views: 178
Posted by: cigano on Mar 22, 2009

"The US Treasury will borrow no less than one trillion dollars from the developing world in 2009. It will need even more in 2010. Pepe Escobar argues the US is indeed in a privileged position: not only it unleashes a global financial crisis, it then sucks up money from all over the world, based on the fact that the US in fact remains the "manager" of choice of global capitalism. As if this was not hardship enough for the developing world, it now also has to cope with the resurgence of the discredited World Bank and IMF. A certain Tim Geithner has been through this before - during the Asian financial crisis in 1997/1998 - and then he got it all wrong."

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