Executive Intelligence Review. Obama Administration Pushes Corporatist Globalization by John Hoefle

This article appears in the June 5, 2009 issue of Executive Intelligence Review. Obama Administration Pushes Corporatist Globalization by John Hoefle [PDF version of this article] May 29—With every passing day, the Obama Administration more closely resembles the fascist regimes of Adolf Hitler and Benito Mussolini. Underneath all of Obama's promissory rhetoric lies a policy of unlimited support for the parasitic financier class, while savagely gouging the middle and lower economic strata. That this is the policy advocated by the financier elite should be no surprise: Wall Street helped the Brutish Empire create both Hitler and Mussolini, and funded a fascist movement in the U.S.—the American Liberty League and its satellites—in the 1930s, as elements of an attempt to create a world fascist movement. This fascist cabal even tried to organize a coup against President Franklin Roosevelt in 1934. That coup fortunately failed, and FDR defeated the fascists, both foreign and domestic. But the victory was only temporary. We have repeatedly identified this grouping as the American wing of the Anglo-Dutch Liberal financier oligarchy, centered in the City of London and operated through a worldwide system of central banks, private financial institutions, and corporate cartels. It is more commonly known as the British Empire. Today, these imperial fascists are attempting another coup. After decades of financial deregulation and corporate cartelization, they have amassed great wealth and power, to the point that they dominate both the financial system and the Federal government. They are now using their power to run the greatest criminal swindle in history—the Wall Street bailouts—while using the financial crisis to gut what remains of the productive economy. They were the power behind Bush and Cheney, and they are the power behind Obama. Thus, it should be no surprise that on the major policy issues—led by the financial crisis, the war in Southwest Asia, and the police state—the Obama policies are essentially the same. Obama, the man we elected to reverse the Bush disaster, is turning out to be just another fascist front-man, accelerating the collapse instead of halting it. Globalization The major issue facing the world today is the drive by the financier oligarchy to destroy the nation-state system, and return the world to imperial rule. They intend to use the financial crisis to force that change. Virtually everything the Obama Administration has done, has weakened the nation and strengthened the oligarchy. On financial policy, Obama has supported moves toward global, rather than national, regulation and oversight. He has endorsed the British plan to turn the International Monetary Fund into a supranational regulator able to issue its own money. He has used U.S. taxpayer money to bail out the speculative bets of both U.S. and foreign banks, and has allowed the banks to virtually dictate financial regulatory policy. After the phony stress tests, banks which are insolvent are not only allowed to remain open, but encouraged to sell more shares to the public, adding fraud upon fraud. The speculators are being protected, while the general public is looted. Everywhere we turn, the parasites are proposing Orwellian "reforms" to fix the system, which actually make things worse. The high-sounding Committee on Capital Markets Regulation, for example, just issued its "plan for regulatory reform," which is actually a call to head off reforms. It calls for more global "coordination," recommends against a return to the FDR-era Glass-Steagall law, which separated commercial banking from investment banking, and defends the derivatives markets, including credit default swaps. That is not reform, it is surrender, a surrender of national sovereignty. The Treasury's plan to "regulate" over-the-counter derivatives is little more than a scheme to protect the monopoly of the big derivatives banks, and is based upon a proposal submitted by Goldman Sachs, J.P. Morgan Chase, Barclays, and Crédit Suisse! Goldman Sachs is also a major player in the Committee on Capital Markets Regulation. To pay for all of this, the Obama Administration is considering implementing a value-added tax (VAT), or national sales tax, of the sort common in the oligarchy-controlled nations of Europe. Such a tax is, by intent, hugely regressive, falling hardest on those who can afford it least. Advocates of the tax claim that the proceeds could be used to pay for health care and other benefits, but that argument is a fraud. The real purpose of the tax would be to loot the population and weaken the nation, hastening its collapse: yet more fascism. The restructuring of the auto sector, under the guise of "saving" General Motors and Chrysler, is more of the same. What is really being rescued are the fictitious values of the debts of these companies, and the derivatives piled upon them. Chrysler is being turned over to Fiat, while GM has stated that it will increase its sales in the U.S.—of cars it builds elsewhere. What is playing out is really the globalization of the auto sector, under the supervision of bankers associated with Felix Rohatyn's Lazard, a bank with a sordid history of assaulting America on behalf of the financier oligarchy. We have a former Lazard banker, Steve Rattner, serving as Obama's auto czar; Lazard bankers advising the United Autoworkers; and former Lazard banker Jim Millstein, as the senior restructuring officer at Treasury. Add to that Lazard's historic role advising the Agnelli family of Fiat, and the true nature of the "auto rescue" becomes obvious. With every step, the Obama Administration is furthering globalization, which itself is a policy designed to replace the nation-state with financier-run corporate cartels, which control the world by controlling the production and distribution of essential goods and materials. Step by step, the empire is tightening its grip over the world's population, for the purpose of dramatically reducing not only the number of people, but also their ability to defend themselves against imperial designs. Defend Sovereignty At the Bilderberger meeting in 1968, Lehman Brothers banker and senior Establishment figure George W. Ball outlined a plan to replace the "archaic" nation-state with what he called the "world company." The scheme was explicitly Malthusian, based upon the claim that the world's resources were too limited to be trusted to mere nations, which are too often swayed by domestic concerns, such as the general welfare. Instead, the idea was that these resources should be managed by global corporations, which would administer them in ways which maximized imperial control and profit. That "world company" scheme was implemented, and today is known as "globalization." Both terms are mere euphemisms for imperialism. It might seem to some that these oligarchs are far too powerful to defeat, but, in truth, the financial crisis has made them highly vulnerable to a counterattack of national sovereignty. The empire is bankrupt, its parasitic looting policies—a.k.a., "the bubble"—having destroyed the global economy, and is now dependent upon the U.S. and other nations to cover its losses. If we were to quit bailing it out, and instead put its financial markets and institutions into bankruptcy protection, the empire would collapse, and the world would be free to begin rebuilding. Lyndon LaRouche has laid out the policies needed to save humanity, via his Homeowners and Bank Protection Act, a return to sovereign credit policies, and a Four-Power agreement among the U.S., Russia, China, and India, to form a united front against the British Empire. The question is: Will the people of the U.S. find the will to act, and set the example for the world? We are headed into fascism, under a President who has adopted explicitly Nazi policies. We have seen this before, and it does not end well. We must stop it, now. johnhoefle@larouchepub.com

Schiff Report June 3, 2009