Webster G. Tarpley Ph.D.
TARPLEY.net – World Crisis Radio
May 12, 2012
Greece urgently needs a debt freeze within the euro. Last week’s elections open the perspective of a European anti-austerity bloc capable of defeating the neo-Bruening policies of Merkel, who may already be on her way out, and of seizing control of the European Central Bank for a policy of credit creation for job creation based on European-wide infrastructure.
Since neither zombie banks nor national budgets can finance a European economic recovery, the ECB must be forced to issue a series of trillion-euro tranches of 0%, 100-year credit to buy bonds devoted exclusively to great projects of infrastructure modernization. In this way, the required 40 million productive jobs at union wages can be created.
If Greece holds another round of early elections within a month or two, the latest polls indicate that Syriza can attain the majority needed to form the next government. Threats to expel Greece from the euro are scare tactics designed simply to intimidate Greek voters.
The crisis of the world finance oligarchy has started a new downwar lurch with the exhaustion of the €1 trillion of 1%, 3-year loans wasted by ECB boss Draghi of Goldman Sachs on the hopelessly insolvent Eurozombie banks. Banksters are apoplectic about the prospect of a Greek moratorium.
Two years after the New York Stock Exchange flash crash of May 6, 2010, Jamie Dimon of J. P. Morgan Chase has announced huge losses generated by the London proprietary trading desk of his bank. As usual, the losses come from bad bets on derivatives, in this case synthetic indices (CDX) based on credit default swaps, the ultra-toxic derivatives which destroyed AIG in 2008. Dimon has been raving against excessive regulation, but this latest debacle shows that Dodd-Frank and the diluted Volcker rule are so weak as to be worthless. To banish the specter of a new panic followed by more banker demands for bailouts, it will be necessary to outlaw credit default swaps and synthetic indices based on credit default swaps. A 1% across-the-board Eurotobin transfer tax must be levied on all financial transactions. A strengthened Glass-Steagall regime of separating commercial banking, proprietary trading/investment banking, and insurance should also be established to prevent future crises of this type.
The UN observer mission in Syria has now been attacked twice in the past week by NATO-backed terrorist death squads, who have also killed scores in Damascus with coordinated suicide bombs on government agencies. The killers are obviously al Qaeda fanatics in the service of NATO, but Norwegian NATO General Robert Mood of the observer mission refuses to pin the responsbility where it belongs – on his fellow NATO officers. The purpose of observers must be to observe and report, but the UN reporters have reported virtually nothing — because they are acting as tools of NATO.
Syrian UN ambassador Jafari has exposed the role of Turkey, Lebanon, Saudi Arabia, and Qatar in deploying terrorist fighters from Libya and Turkey into Syria. Jafari called attention to a CD prepared by the Syrian government showing the confessions of some of these foreign fanatics.
As for Kofi Annan, his Geneva press conference was another whitewash of NATO. If Annan wants to start reconciliation talks, he should announce a date certain for the convening of a national dialogue at the peace table in Geneva. The Syrian government is sure to attend. The congeries of fanatics, dupes, and foreign fighters calling itself variously Syrian National Council or Free Syrian Army is not likely to appear. If they do appear, they are likely to start killing each other before they enter the conference room. NATO, like Hitler before he swallowed Czechoslovakia in 1938, does not want a peaceful solution to the Syrian troubles, but rather wants to keep internal conflict alive sp it can be used as the pretext for invasion, regime chaange, and partition.
Ban Ki Moon, Kofi Annan, Navi Pillay, Valerie Amos, and Gen. Mood are thus imperialist operatives, not international civil servants. With corrupt personnel like this, the United Nations risks extinction on the model of the League of Nations, which perished because it refused to oppose fascist aggression in the 1930s. We are today witnessing the transition away from any concept of collective security in favor of naked appeasement and complicity with the US-UK-NATO aggressor coalition.