The petrodollar issue came to light for me in a study of the reasons behind the Iraq war and increased ratcheting up of the Iran issue by our current administration. If what I understand behind the concept of the petrodollar is legitimate, our real worry is not military but economic in the world economy as it relates to Europe and the Eurodollar. Remember, oil is traded on the world market in dollars and the threat by Iraq in 2024 and now Iran to trade in Euro's is what appears to be behind the "oil" issue. We need a strategy to find a way out of an economic war as well as the middle east crisis. I understand that this is an economic issue, who among us can explain the relationship between the world's economy, oil, America's growing debt,the real value of the American dollar and the current administrations reluctance to get us out of the Middle East militarily?
I encourage anyone who has not researched the term petrodollar to do so.
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In May 2024 Saddam DID launch a WMD against the USA. He signed contracts with French, German and Russian companies to rebuild Iraq's oil infrastructure with the intention of turning the spigot on FULL BLAST and selling all the oil in EUROS. This move would have put an end to the Petro-Dollar.
Guess what Iran did last summer (2006)? They opened an oil trading exchange that only trades in EUROS. THAT is why they are a target now.
There is a cousin to the Petro-Dollar...the China-Dollar. It worked the same way...we buy crap from China and they turn around and purchase our debt with our dollars. Another phony way to prop up the phony dollar. Well China said they had enough debt and couldn't keep losing money in this fiasco on June 12th 2024 and announced they would do all international business in EUROS. So if we want to buy crap from China we have to go borrow some Euros.
The US is a sinking ship and the Federal Reserve PRIVATE BANK is off our bow shooting cannon holes in our hull.
Pure conspiracy crap! Countries all over the world have been moving into other currencies to get a basket of currencies and move away from dependency on one currency. Makes complete sense for all nations to do and holds us to account as well - all good. Associating this sensible currency move by Iraq and now Iran with our actions there indicates you might have been partying too much with Lindsey Lohan there!
DC - 3rd ward - milligansstew08@yahoo.com
http://milligansstew.blogspot.com
How can one guy be so uninformed? Oh yeah Fox News. Do a little research Homer!
Milligan is not uninformed he knows what the problem is and who the candidate is that has the solution. He just doesn't like that particular candidate.
Perk, I'm an NPR man (god bless Diane Rehm and Kojo Nambi - http://www.wamu.org ). Listen sometimes and you'll get BOTH sides and some real facts and not this unfounded Tabloidesque stuff you and HC feed on and spew forth.
DC - 3rd ward - milligansstew08@yahoo.com
http://milligansstew.blogspot.com
http://naam.pair.com/aftf1626/AFTF/blog/2006/12/fiat-empire-closer-look-at-federal.html
Link the above, Fiat Empire-A closer Look at the Federal Reserve. It is a documentary on the well known book, The Creature from Jekyll Island by the respected author G. Edward Griffin. Also check out Aaron Russo's From Freedom to Facism.
Remember that with gold standard in days of yore we had big depressions and frequent economic swings that the Fed/paper has moderated tremendously and the result is the greatest expansion of business and prosperity inthe history of civilization. Has the fed made mistakes - for sure. But they have learned and are pretty good at thisand have to keep upwith market developments - never easy. But What is needed above all are sound monetary/fiscal policies that promote greater SAVINGS/Investment! THAT is key - not the gold standard that locks us back into the real bad old days.
DC - 3rd ward - milligansstew08@yahoo.com
http://milligansstew.blogspot.com
While I am not an expert on the history of money neither am I a novice. The gold or bi-metal (gold and silver) was far superior to the debt money system we have now. At times employers had to negotiate their employees wages down because as productivity increased the money became worth more. Benjamin Franklin warned us not to allow the debt money system on our shores or that within 100 years every man, woman and child would wake up slaves on the continent their father's conqured. He also named them.
He pretty much got it right, the progenitors of this usurious debt money system got their hooks into the US in 1913 and have been robbing us blind ever since. It is no coincidence that they were the self same ones who foisted the Income Tax on us. On the income tax they basicly said something we have all heard before, "don't worry, we are only going to tax the rich." In 1914 unless you made over $100,000 you paid no income tax, and if you did, you paid 1% of all you made over that amount. So if you made $100,001, you paid 1 cent. $100,000 in 1913 equates to roughly $2,000,000 today. I wonder how many people made that much a year in 1913? But the hook was set and the longer the People have held the hook the more they have been robbed. We now have an unpayable national debt and the fiat dollar is doomed to the fate of its ilk that passed before it.
Under a gold standard or bi-metallic standard a government cannot spend more money than it has. Under a fiat system they can make all the promises they want to get re-elected and print the money to cover their promises. The problem is that for every dollar they print per year over and above GDP makes every dollar in circulation worth less (inflation). This evokes the law of supply and demand that states the more of anything there is the less intrinsic value it has. We are now saturated with dollars and a dollar is a "note" which means it is a debt. Under the debt money system if all the debts were paid there would be no money as all notes would have been redeemed. This is the part where the public figures out it can vote themselves money from the treasury and the end result is inevitable. We are the end of the rope in our cycle of fiat, the interest(usury)alone, that all Christians should be familiar with, is unpayable. Fiat money systems require a "democracy" to function well and are not compatible with freedom as debt itself enslaves. I would argue that debt slavery is worse than bondage.
I am not saying a return to the gold standard is the best option but it is far superior to the debt money system we have now. I for one would not be unaccepting of the implementation of social credit which is another money system far superior to debt money. One of the biggest problems with the debt money system is that the closer to the printing press you are the better off you are and the further away the worse off you are.
My solution would be to return first of all to Constitutional money, since the laws governing money and what it is, are still on the books. The amount of gold and or silver held in the treasury would be divided by M3 (total money supply) and thus the value would be set. The system could be tweaked by Congress for optimum stabilization.
The fact that the US had no income tax was one of the main things that made it great. When people knew that what they earned was their's to keep much talent flowed to our shores. One of the reasons the founders had no income tax and actually prohibited it was because they did not believe it was right for someone who had worked for something should have to give it to someone who didn't.
If the US had continued under the gold standard our servants would have had servants. If we had honest money for the last 100 years while productivity was rapidly increasing our dollars (honest ones) would have been getting more and more valuable instead of losing over 95% of their value. One man used to be able to work 40 hours a week and keep up a home, wife and kids and all the costs associated with it and save money. Now most families are two parents working to make ends meet and they are in debt over their eyeballs.
The financial predicament we find ourselves in now is probably the most serious problem we face. It is one more reason that Ron Paul is such a godsend. He is one of, if not the most knowledgable, individuals in government on monetary matters. He is definitely the one understands how fragile the situation is now and the only one who has put forth proposals to remedy the situation. No other candidate running for office has the knowledge to deal with this problem in a satisfactory manner. Some of them, like the general public, will be caught off guard when it all comes crashing down and won't know what hit them.
Here Here you made the point I was trying to make. The doofus with the blog is obviously a NeoCon Bushy who only believes what his corporate masters tell him and has had his imagination erased in school (indoctrination training).
Here is an article (by a real economist) I think you will find interesting as it explains yet another alternative to our monetary problem.
http://www.globalresearch.ca/?context=va&aid=6401
And the reason it was abandoned. There's a finite amount of gold and silver on the rock. While population continues to increase. What would happen if the fed only printed so much money, and that was it. no more. The total amont of gold mined in the world is around 125,000 tons. At a current price of around 640 an ounce, comes out to a total of about 2.5 trillion. Which is less than the value of currency circulating (including bank current account balances) in the US alone. Gold standard worked good in the 16 and 17 hundreds, but with populations 10 to 15 times what they were, it just doesn't work.
Browncoats Unite!
Do you have a clue what a "Petro-Dollar" is?
I'll explain: In 1972 when OPEC was formed all oil was traded in US Dollars because up until then the USA was the largest Oil producer. The OPEC countries wanted to use their own currencies to sell their oil which would have undermined the almighty US dollar (the main control mechanism for the Private Bankers). WE made a deal with the SAUDIS in 1973...We would make sure their neighbor was a friendly guy (and we installed Saddam in Iraq in 1973) and they (OPEC) could raise the price of oil from $2/barrel to $42/barrel which they did. They could use part of the profits to make improvements (build palaces) and the rest was to be deposited in the Federal Reserve Bank thus propping up the Dollar for the foreseeable future (and providing cash for the US war machine). All this went along swimmingly until the fall of the USSR and the advent of the Euro in the 1990's.
When the petrodollar started to lose it's power the US (under Clinton) went on a lending spree to gain control of all central banks...it was called "Globalization". We also invented another underhanded dollar shuffle scheme known as the "China-Dollar" (same deal we send our manufacturing to China and they do business in dollars) to prop up the dollar further. Since the dollar is now a sinking ship with multiple anchors of course it makes sense for countries to shift to the Euro but THAT threatens US supremacy.
One thing to remember is that the owners of the Federal Reserve are NOT American and they could care less about America...it is just a tool for them to gain control either through economic or MILITARY force. Since the economic force is becoming less and less effective it is up to Military force to fulfill their plans for a "New World Order"...aka One World Government. When they destroy the US economy (probably this summer) all currencies will fold and they will bring us a new electronic fiat currency system. The "currency" will be a micro-chip implanted in your arm.
If you really think our governments and banks work for the people to make their lives better you are INCREDIBLY NAIVE! They are all about Profit and Control!
Here spend 45 minutes getting an education from an award winning BBC documentary...
You have to stop regurgitating this tabloidesque sky is falling scare stuff there perk! Call Ollie Stone now!! you and HC could do GREAT screen plays for him!! The problem is us - the profligate spenders - and not the Fed!! Get our spending in order like we use to do and we'll be just fine!
DC - 3rd ward - milligansstew08@yahoo.com
http://milligansstew.blogspot.com
You really have to stop taking the government at its word!
Let's talk JFK...
Did you know there have been more than 800 "classified" government documents released since Stone made JFK in 1992 and at least six confessions by those involved in the Kennedy assassination? One of those confessions was by E. Howard Hunt (CIA operative and Nixon "plumber") a week before he died this year. All of the recent evidence points straight to CIA/Mafia (they are one in the same) and the private bankers. It has been proven beyond a doubt that George HW Bush (CIA 1953 - 1978) was the on the ground manager of the Kennedy Assassination...there's pictures of him in front of the infamous "School Book Depository" talking to the local cops the afternoon of November 22nd 1963. There is also a memo from J. Edgar Hoover naming Bush as one of two CIA men who visited him in his office on November 23rd 1963 in DC to "talk" about the assassination.
Kennedy said he "would smash CIA into a thousand pieces and spread it to the wind" after the Bay of Pigs (another Bush-CIA operation while he was the owner of Zapata Offshore Oil..use the google ace). Kennedy also signed an "executive order" abolishing the Federal Reserve. Kennedy also said he would pull ALL troops out of Vietnam by summer 1965 (and he meant it) thus short circuiting the private banks profit (debt producing) tool for the 1960's and 1970's. Kennedy was really trying to defeat the corporate criminals who now have a stranglehold on America.
You do know that "Lady Bird" Johnson owned ALL of the media outlets in Dallas in 1963 right? You do know that the Johnson's were majority owners of Bell Helicopters who sold the US government 150,000 plus helicopters during Vietnam right? You do know that LBJ was under two Federal investigations and was facing Prison in 1963 right? You do know that Johnson was NOT going to be on the Democratic ticket in 1964 right?
These are not "conspiracy theories"...these are FACTS taken from Public Documents. Stop believing what you are told and DO SOME READING.
"If America wishes to be IGNORANT and FREE it wants what Never Was and what shall Never Be"
Thomas Jefferson
By Paul Craig Roberts
08/08/07 "ICH" --- - Early this morning China let the idiots in Washington, and on Wall Street, know that it has them by the short hairs. Two senior spokesmen for the Chinese government observed that China’s considerable holdings of US dollars and Treasury bonds “contributes a great deal to maintaining the position of the dollar as a reserve currency.”
Should the US proceed with sanctions intended to cause the Chinese currency to appreciate, “the Chinese central bank will be forced to sell dollars, which might lead to a mass depreciation of the dollar.”
If Western financial markets are sufficiently intelligent to comprehend the message, US interest rates will rise regardless of any further action by China. At this point, China does not need to sell a single bond. In an instant, China has made it clear that US interest rates depend on China, not on the Federal Reserve.
The precarious position of the US dollar as reserve currency has been thoroughly ignored and denied. The delusion that the US is “the world’s sole superpower,” whose currency is desirable regardless of its excess supply, reflects American hubris, not reality. This hubris is so extreme that only 6 weeks ago McKinsey Global Institute published a study that concluded that even a doubling of the US current account deficit to $1.6 trillion would pose no problem.
Strategic thinkers, if any remain who have not been purged by neocons, will quickly conclude that China’s power over the value of the dollar and US interest rates also gives China power over US foreign policy. The US was able to attack Afghanistan and Iraq only because China provided the largest part of the financing for Bush’s wars.
If China ceased to buy US Treasuries, Bush’s wars would end. The savings rate of US consumers is essentially zero, and several million are afflicted with mortgages that they cannot afford. With Bush’s budget in deficit and with no room in the US consumer’s budget for a tax increase, Bush’s wars can only be financed by foreigners.
No country on earth, except for Israel, supports the Bush regimes’ desire to attack Iran. It is China’s decision whether it calls in the US ambassador, and delivers the message that there will be no attack on Iran or further war unless the US is prepared to buy back $900 billion in US Treasury bonds and other dollar assets.
The US, of course, has no foreign reserves with which to make the purchase. The impact of such a large sale on US interest rates would wreck the US economy and effectively end Bush’s war-making capability. Moreover, other governments would likely follow the Chinese lead, as the main support for the US dollar has been China’s willingness to accumulate them. If the largest holder dumped the dollar, other countries would dump dollars, too.
The value and purchasing power of the US dollar would fall. When hard-pressed Americans went to Wal-Mart to make their purchases, the new prices would make them think they had wandered into Nieman Marcus. Americans would not be able to maintain their current living standard.
Simultaneously, Americans would be hit either with tax increases in order to close a budget deficit that foreigners will no longer finance or with large cuts in income security programs. The only other source of budgetary finance would be for the government to print money to pay its bills. In this event, Americans would experience inflation in addition to higher prices from dollar devaluation.
This is a grim outlook. We got in this position because our leaders are ignorant fools. So are our economists, many of whom are paid shills for some interest group. So are our corporate leaders whose greed gave China power over the US by offshoring the US production of goods and services to China. It was the corporate fat cats who turned US Gross Domestic Product into Chinese imports, and it was the “free trade, free market economists” who egged it on.
How did a people as stupid as Americans get so full of hubris?
Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions.
The petrodollar is a piece of our house of cards, but while the decision by Iraq to switch to Euros for oil was a nail in its coffin, the main point of contracts with French, Russian and German companies were the main reasons for our invasion. Iran is facing a similar threat - we want that oil - for ourselves!
The fall of the petrodollar is a byproduct of this administrations "put it on the tab" policy. our huge debt, mainly held by China, puts us in a shaky position.
Read the power China now has:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/07/bcnchina107a.xml
US Marine vet Vietnam 4/68 - 8/69 5th District, NJ
Let me throw a wrench into all the conspiricy Garbage. As for petro dollars and Iran. The US has had an embargo on Iraian oil since the early eighties. Middle Eastern oil is "sour" crude it is only good for heavy high sulfur uses like asphalt and roofing. It is very difficult to refine and yields a lower amount of refined hydrocarbons (gas, diesel fuel, plastics base). Before you spout off a bunch of hokey theories you should get a handle on your history. Here is one for you loony tunes out there. "JFK was killed by his brother because he had evidence that Teddy was working with the Columbians to bring cocaine up from South America in illegally imported ALIEN donkeys." Now seriously, that makes as much sense as all the crap you bloggers have been spewing for months.
There is only one candidate who has a ghost of a chance of saving the USA, Ron Paul!
Economic Expert: We Are Already In An Engineered Recession
50% chance there is going to be a 1929 style economic depression as pretext for regionalization, globalist interests
Infowars.net | August 15 , 2024
Steve Watson
Alex Jones was joined on air yesterday by investigative journalist, economic expert and Harvard Doctor of Political Science Jerome Corsi for an in depth discussion on the state of the economy and the engineered decline towards regionalization and a globalized monetary system.
Corsi warned that the crisis in the stock market we are currently witnessing is simply the tip of the iceberg and part of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.
"We're gonna go through Stagflation, which is basically stagnation and inflation. We are already in a recession, it just hasn't been publicly declared yet. I think it will deepen through the rest of 2024 into 2024. Corsi stated.
"It's going to last several years, it's largely because we've lost so much of the manufacturing to China, even when our currency tanks, there are no exports we are producing anymore that will gain. The currency is gone, it is being sold off very quietly, worldwide, by the oil producing states, by China, the Euro is increasingly becoming our foreign exchange reserve currency.
The primary indices of inflation have been taken out of the indexes, food is not in and neither is energy prices. These two are going up hugely right now and are going to continue to go up."
Corsi warned that this is going to be the formula for producing the Amero, a continental solution to the tanking of the Dollar.
Listen to the entire eye opening interview here .
Last September Corsi received the first documents pertaining to a FOIA request asking for full disclosure of activities towards creating a Pan American Union .
The documents show that a wide range of US administrative law is being re-written in stealth under the Security and Prosperity Partnership program to "integrate" and "harmonize" with administrative law in Mexico and Canada, just as has become commonplace within the EU.
The documents contain references to upwards of 13 working groups within an entire organized infrastructure that has drawn from officials within most areas of administrative government including U.S. departments of State, Homeland Security, Commerce, Treasury, Agriculture, Transportation, Energy, Health and Human Services, and the office of the U.S. Trade Representative.
Corsi also reported that at a recent high-level confab in Banff, an assistant U.S. secretary of state, Thomas A. Shannon , chaired a panel that featured a presentation by Prof. Robert Pastor, author of a book promoting the development of a North American union as a regional government and the adoption of the Amero as a common monetary currency to replace the dollar and the peso.
Just a conspiracy theory? Not according to leading economists such as Steve Previs of Jefferies International who stated on CNBC , "I think one thing for people who are dollar based need to focus on is the Amero, that's the one thing that nobody is talking about that I think is going to have a big impact... on everybody's life in Canada, the U.S. and Mexico..."
A global crash and a totally devalued dollar that can barely rival the peso are greasing the skids for a single North American currency. This spells disaster for all Americans who wish to maintain their standard of living and not find themselves barefoot on the street in a bread queue.
Corsi went on to forecast a five to seven year deep recession:
"We will not recover from this for at least five years. If people think that housing values are dropped today it's nothing, housing values are going to go down fifty percent or more from the peak. We're going to come to a point when condominiums in certain markets are worthless.
It's not that there won't be buyers out there, there just won't be credit for them. You're going to have a credit crunch now, where even if you're qualified you're going to have to have 20% down and even then you might have a hard time getting a loan at a reasonable rate for a house."
Corsi urged anyone in the position to do so to quickly pay off any mortgages and get out of debt. Secondly he suggests investment in gold, rather than stocks and bonds which are based on fiat money and are going to decline tremendously in value:
"The derivative market could be a 450 trillion worldwide market that is going to collapse. Just in the hedge funds alone in the United States, and in the mortgage market there is between 3 and 5 trillion dollars of debt that is going to collapse. That means three to five trillion dollars of losses. Somebody is going to have to absorb that and the reason that the federal reserve is throwing out so much money into bank reserves is because we would've already had bank failures."
Dr Corsi also warned against the school of thought that says if you get a bigger mortgage, as long as you have savings to pay for it, you can accelerate the pay off of it with inflation. He stressed that unless you have a long term fixed rate mortgage and you fully understand the terms of your contract you could at any point be subject to a change in terms and the loan could be called in:
"There is going to be a grab on this property by people who have cash, and that's not going to be the middle class. People will lose their homes if they have large mortgages that they cannot comfortably sustain or pay off.
There's going to be a grab where the institutions and the people already wealthy will only gain, it's not going to be an opportunity for the average person to gain."
Corsi also asserted that the ongoing meltdown is a global one and it is going to be very severe, forcing regionalization and providing the impetus to saying harmonization of national economies is the only way we can handle this coming huge recession.
Dr Corsi firmly believes that the crisis is an engineered one on behalf of a global elite who have long pushed for a regionalization, a single currency and a market they can monopolize more effectively:
"It is engineered because again, the move toward globalism, the pumping of this liquidity to stimulate the markets was totally artificial. The federal reserve is going to get caught right now in a total dilemma, if it raises rates to protect the dollar, its going to further tank the economy and cause the housing markets to be in even more of a crisis. We have economic stagnation, the loss of real income, the loss of real wealth and inflation at the same time. With the dropping of the dollar the crisis is going to be manipulated to the point where people will take the Amero or any regional solution if it is proposed as the way you get out of your problem."
He further warned that the 400 billion injected into the stock markets last week is merely a temporary measure to slow down and control an overall meltdown and was only done to prevent a sudden massive crash. mirroring the analysis of the Financial Times of London and former World Bank chief economist Joseph Stiglitz Corsi stated that he sees no way to stop the meltdown, the only doubt left is whether it is going to be a fast or slow process.
He also believes there is an even money chance that there could be a huge 1929 style economic depression:
"This is the fastest run I've seen ever to get to the goal line of creating a Untied States regional economy, a North American Union. The elite are running like they'll never have this chance again. It is the tenth hour, the eleventh hour where this battle will be fought. They believe that they can win now and they are going for broke to create a North American Union and tank the dollar."
The decline of the economy in the US is being caused by the very predatory globalist policies that are still presented to us as the solution for economic turmoil. Globalist vampires such as the IMF and the World bank, but two of the elite central banks and private interests, have drained the third world dry, and are now focusing their attention on enslaving the developed world.
The single currency and a 'new economic order' is a major step on the road to global governance. Europe already has its own strong single currency, while the dollar's days seem to be numbered. When money is being printed and distributed by private corporations is it any surprise to see a push for a merger with other countries' currencies?
Talk has long been of a global currency by 2024 if plans go accordingly. A 1988 famous cover of The Economist emphasized this, depicting a phoenix standing atop burning paper money symbolizing its rise out of their destruction, with the words "Get ready for a world currency" next to it.
The article carried in The Economist, titled "Get Ready for the Phoenix," stated that, "THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency."
The article went on to state that sovereignty will be lost with the advent of the new currency, but that trends towards globalization are already doing away with it anyway.
The phoenix zone would impose tight constraints on national governments. There would be no such thing, for instance, as a national monetary policy. The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF. The world inflation rate - and hence, within narrow margins, each national inflation rate- would be in its charge. Each country could use taxes and public spending to offset temporary falls in demand, but it would have to borrow rather than print money to finance its budget deficit. With no recourse to the inflation tax, governments and their creditors would be forced to judge their borrowing and lending plans more carefully than they do today. This means a big loss of economic sovereignty, but the trends that make the phoenix so appealing are taking that sovereignty away in any case. Even in a world of more-or-less floating exchange rates, individual governments have seen their policy independence checked by an unfriendly outside world.
"Pencil in the phoenix for around 2024, and welcome it when it comes," the article concludes.
In 2024 Robert Mundell, the Nobel-prize winning economist often credited with paving the way to the European single currency, called for a global currency .
In an interview with French paper Libération, Mundell said: "With the emergence of the euro and its instability against the dollar, Europe, the United States and the Asian powers should come together and create a new international monetary system."
In 2024 the scandal-ridden and highly secretive Bank For International Settlements, considered to be the world's top central banking policy, released a policy paper that called for the end of national currencies in favor of a global model of currency formats.
The BIS is a branch of the of the Bretton-Woods International Financial architecture and closely allied with the Bilderberg Group. It is controlled by an inner elite that represents all the world's major central banking institutions. John Maynard Keynes, perhaps the most influential economist of all time, wanted it closed down as it was used to launder money for the Nazis in World War II.
It appears we are now seeing the slow realization of a global economic system with a single currency.
The end game of such regionalizing harmonization is of course a global government.
It has long been recognized that an instant world government would be roundly rejected by the masses and that a stepping stone agenda, a stealth implementation of a new global order is the key to its success.
Writing in the April 1974 issue of Foreign Affairs, the flagship publication of the Council on Foreign Relations (CFR), Richard N. Gardner , who has held a number of State Department posts, argued against what he called "instant world government." Instead, he wrote, "the 'house of world order' will have to be built from the bottom up rather than from the top down. It will look like a great 'booming, buzzing confusion,' to use William James' famous description of reality, but an end run around national sovereignty, eroding it piece by piece, will accomplish much more than the old-fashioned frontal assault."
In a similar sentiment, former National Security Adviser and co-founder of the Trilateral Commission, Zbigniew Brzezinski pointed to "regionalization" as the key for "globalization" in his address to Gorbechev's State of the World Forum in October 1995: "The precondition for eventual globalization � genuine globalization � is progressive regionalization, because thereby we move toward larger, more stable, more cooperative units."
Last May the first steps towards the biggest "cooperative unit" there has ever been were cemented with the groundwork being set for a EU-US single market . However, as the CFR would say, amidst the "booming, buzzing confusion" few have noticed.
Jerome Corsi concluded by re-iterating that the economic crisis has been manufactured in order to provide the pre-scripted neo-mercantilist solution:
"We'd never get rid of the sovereignty of the United States or the dollar unless there was a crisis. The Council on Foreign Relations, two issues ago Ben Steel one of their top economists wrote an article openly declaring that national monetary systems were dead and that we need to go to regional moneys and that we need to go to global moneys. We are going to be told very quickly that the only way the federal government can protect us is if we allow the federal government to become a North American government."