It goes without saying that we have been reporting the true scale and severity of the ongoing general breakdown crisis of the entire post-1971 floating exchange rate monetary system, without flinching in the UK Column for well over a year now. In contrast, the disinformation pouring from the vast majority of the mainstream media on this subject is equalled only by the magnitude of their lies, for example, in the run up to the Iraq War, the coverup of the true story of 9/11 and not to mention the latest international fiasco - "climategate".
So, once again, with a due sense of weariness and fatigue, but nonethless for the benefit of the historical record, let us get at the core of these issues and tell the 100% unvarnished truth: the bailout of the banking system has solved precisely nothing. It has simply transferred the losses of the private sector onto the British taxpayer, who, more than any Polar bear in one of Al Gores ludicrous propaganda films, is an increasingly dwindling species, according to recent reports on the disgusting culture of benefit dependency that has taken over the formerly industrious nation of Great Britain. Nowhere was this demonstrated more starkly than in the secrecy surrounding the £62 billion worth of "loans" made to HBOS and RBS, facts that were outrageously witheld from the Lloyds Bank shareholders during their shotgun marriage to HBOS last year. In view of these disclosures, we have to ask if there ever was any real expectation that these loans would be repaid.
But as we have said repeatedly in these pages, by taking this course of action, our government, rather than "saving the world" as they so stupidly claim, have in fact doomed us all, themselves included. What is now assured is an accelerating collapse of the entire financial system, an event which is already well underway, as demonstrated by the impending sovereign debt default of Dubai World, which threatens to set off a chain reaction collapse in the sovereign debt markets in the days and weeks ahead. As these events unfolded last week, we heard reports of not-so-secret trips to London by the Dubai leadership in the days preceeding the very clearly carefully co-ordinated (i.e. timed around the Eid holiday in the middle east, and Thanksgiving in the US, so that their respective markets would be closed) announcement of the debt moratorium that Dubai had obviously just cleared with the City of London.
While there is always much speculation in these matters "on the street", with some saying that other Arab states in the UAE may choose not to intervene in the crisis and instead simply seek to buy up what remains after the onrushing crash at firesale prices, what is now abundantly clear is that the carefully constructed illusion that all is well in the global economy and that "recovery is just around the corner" now that Gordon Brown and his banker chums have "saved the world" (although I might add, not quite yet from us useless eaters), the reality is far more serious than we are being led to believe. A sovereign debt default will have drastic implications on the international capital markets, as trading desks around the world weigh the risks of holding vast quantities of government debt, as opposed to more tangible assets like Gold. If a panic begins, which will be the next national currency and economy to get vapourised? Well, if Mr Palumbo is correct, we may not have to look too far for ananswer to that question.
And so, as the global elite proceed against all public opposition with their plans for a one world government, a single world currency, global carbon taxes, and population reduction beyond the wildest dreams of the most fanatical of the malthusian cabal that has now been exposed as the core peddlers of the "global warming" hoax, as Lord Christopher Monckton has publicly said just this week, it falls to each of us to put the real issues squarely back on the table and bring these criminals and fraudsters to account.
The international monetary system is dead and must be put out of its misery immediately. Only a new global financial system, backed by the major economic powers of the planet, led by the United States of America, and in direct opposition to that emerging fascist superpower, the European Union, can save us now. Anything less, and it will be the bankers who put humanity through bankruptcy re-organization, rather than the other way around, and that, dear reader, is what the title of this article promises those who fail to heed our warning.