Global fiscal corruption?
Global fiscal corruption?

Fascinating stuff in this video from the British House of Lords. In the video Lord James of Blackheath explains why, after a 2 year investigation, he has reached three possible conclusions

  • Massive money laundering (US $15 trillions) by a major government that should know better, effectively undermined the integrity of the Royal Bank of Scotland.
  • A major American Department has a rogue agency. The agency has been wound up and has created this structure to obtain a payoff of at least 50 billion Euros.
  • An elaborate fraud not carried out, but prepared as a threat to one or more governments, that it will be carried out unless they are paid off.

Watch the full 11 minute clip. Lest you wish to dismiss it as the ravings of some nut, his Lordship’s track record suggests he is no fool: David James, Baron James of Blackheath. He is well known his Foundation X speech (House of Lords, 01/11/2010).

If  true, it is absolutely astounding. Given the US Federal Reserve’s resistance to sunlight we can not know. Hopefully Ron Paul will pick up on it. He might be proven as right about the need to audit the Fed as he was about the US economy being in a bubble prior to the Global Financial Crisis. It’s amazing how insightful an Austrian school of economics perspective can make you.

If the first and possibly if the second of his lordship’s conclusions prove correct, then there is a high probability of how this will end.  Role on the new world fiscal order. So much for my thinking the catalyst would be related to this or this or this or this or this or this or this and this.

In case it is not clear from the links, the developed world is basically insolvent. It has overspent and over promised. Japan is in an unbelievably difficult position, as to a lesser extent are the European countries, including France and Germany. The USA is similarly up the creek without a paddle. The Middle East remains a tinderbox. Any flare up will spike oil prices, sucking the stimulus induced activity right out of the global economy. The stimulus dependent activity is only temporary, when the stimulus’s end it will go away, leaving behind malinvestment and debt. The developed world banks are basically insolvent. The derivative market is unbelievably large and could blow up the real economy. If this partial list is not enough, the problems are interlinked, so any one will set off all the others. Nice. I don’t know which land mine will explode first, but rest assured, one will.

If you think you have lived through the worst of it, then think again. As Churchill said:

Terrible words have for the time being been pronounced against the Western democracies: Thou art weighed in the balance and found wanting. And do not suppose that this is the end. This is only the beginning of the reckoning. This is only the first sip, the first foretaste of a bitter cup which will be proffered to us year by year unless by a supreme recovery of moral health and martial vigor, we arise again and take our stand for freedom as in the olden time

Taking our stand for freedom is central. We must regain our sovereignty. Our forebears lived through worse. If we remain true to our inheritance we will come through. Our children and our children’s children will prosper.  But if we cast our cultural legacy aside we will descend into the abyss. An abyss far far worse than you could possibly imagine. The forces arrayed against us are legion. They do not just have money, they make it.

It will not be easy, but it is not too late. It is never too late to stand up for what is right. Be courageous, be strong.  What we have is worth fighting for. So fight for it. Force those who will not enforce the law out of office. Insist on integrity and honesty in your office bearers. Stop the slide to anarchy and rebuilt a trustworthy society. Do it peacefully while we still can.

1 Comment
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