Debt Crisis Debate What Was It All About?
By Jay Janson
07 August, 2011
Financial officers in China have been complaining for months of U.S. moves to lower the value of the dollar in order to cheapen the worth of U.S. bonds thus reducing in real terms the cost at redemption and the amount of U.S. debt (not to mention hurting the economy of nations holding U.S. bonds).
Why oh why is FDR's confidential aside to Cordell Hull in 1932 not widely believed: "you and I know that a certain financial element has owned the government since the days of Andrew Jackson."
Roosevelt knew very well that a certain conniving group of powerful investors had not so curiously made fortunes from the 1929 crash. (Speculators Bernard Baruch and Joe Kennedy, JFK's father, etc. liquidating stocks right before the crash; Prescott Bush, of the Bush presidential dynasty to be, though international banking.)
Everyone knows that when the stock market prices drop precipitously, some investors make money (often more money that they made on rising prices).
Does anyone awake really fall for this month's theatrical show of wild criticism, heralded dissension among personal friends, profiled differences of opinion and desperately critical arguments about raising the debt ceiling?
Awesomely powerful speculative investment managers will be making a killing from all the uncertainty having been fostered, cultivated, played about in Congress and media, while a forlorn and marginalized president Obama watched as instructed.
How could it be otherwise with that self-profit-interested 'financial element' owning all three branches of the government and media.
How can so many be so naive as to think that the ruling 'financial element' could ever let their otherwise beholden Senators, Congressmen and media decide among themselves anything critical about the investment moguls' own finances and the society they control and consider theirs.
This tightly interlocked cabal of legal thievery had the U.S. government it controls produce a plethora of threats, threats of default, scare of eventual default before this present phaze of a gigantic shell game was brought to a close. (Shell game = after so many switch arounds, guess under which shell is the pea or coin or card rests - confidence trickery used to perpetrate fraud. In confidence slang, this swindle is referred to as a short-con because it is quick and easy to pull off.) Certainly pretending default danger has already lowered the dollar substantially, when the speculators who own us get to the point where further confusion will endanger their position, they stop the game and retire to take their profit from the hatched up situation.
How heartily did America's elected politicians throw themselves into acting out this entirely unbelievable charade for themselves, for media personae, for us, and above all, for the outside world holding U.S. bonds. How fearful and desolate did ordinary Americans become, as a yet another crisis for the wealthy was used to further bilk the rest of the nation of its patrimony and enforce austerity to protect and enhance the income of its ultra upper class.
Only the members of the most powerful lead investor quasi-world-disposing automaton consortium for major private capital accumulation had an idea of how far down the U.S. dollar, the solvency of the U.S., and the European Union, shall have been, most propitiously, adjusted.
How much more vulnerable to this unseen consortium's intense, seemingly uncontrollable speculation, were mere societies of men and their families brought, before those holding the reins behind the scenes called the Debt Debate farce to an end, coincidentally a few hours before default.
A whopping myth of an entirely natural and spontaneous and historic debate had been created. A myth of the clashing of potently empowered independent political minds in deep, meaningful and real confrontation, deciding democratically, how to legislate economic priorities for the ordinary citizens of the conquering U.S. superpower and not of course for its financially world disposing elite investors.
(The length of the above sentence reflects the complex nature of the drawn out scam.)
One may ponder, how has it come to be arranged that politicians shall deliberate in freedom from most humane considerations or moral restraints?
A larger question for Mankind's future sanity is why can't enough Earthlings become unfooled about who is in charge and has been in charge throughout the age of global finance capitalism in its imperialist stage?
Jay Janson, 80, is an archival research peoples historian activist, musician and writer, who has lived and worked on all the continents and whose articles on media have been published in China, Italy, England, India and the US, and now resides in New York City. Howard Zinn lent his name to various projects of his
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