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This is one of the reasons that I believe that as long as European countries play in a game created by and controlled by the US, and in which the US holds back critical information and unseen trump cards, the results will always be the same. That is one reason why I totally favor decriminalizing drug use throughout the world.
I am not anti-American, I love my country. But I see it succumbing to the same level of criminality that now eats at the rest of the world. We have talked about the looting of Russia but that same looting has begun in the US. Last year $59 billion US was looted from the Department of Housing and Urban Development. That money disappeared into US markets and into offshore havens. Perhaps trillions more is missing from the US Department of Defense. We looted our Savings and Loan Institutions in the 1980s and we now stand poised to loot our Social Security System. It has become a "search and destroy" world economy in a climate of increasing economic disparity and this can only lead to apocalyptic results. A snake eating its own tail is not nutritious. That is why I believe that a healthy Euro, using different strategies for wealth creation, can bring some sanity back into the picture. For in the current modality the only inevitable course is for world governments to seek to "out-crook" each other in competition for the cheap capital afforded by criminal activity. This can only end in war. As an example of the highest form of criminal activity imaginable I would ask you to look at the depleted uranium scandal in Europe. This was not a matter of US imperialism or recklessness. This was a matter of corporations that produce nuclear waste seeking to boost their stock values by increasing net profits. As a result they sold a product they knew to be contaminated with transuranics and plutonium and U-235 to the nations of Europe without telling them and, as a result, portions of Kosovo will be radioactive - forever. This does not address the horrible carnage in Iraq, many times greater than Kosovo, where thousands of children are dying of birth defects and leukemia and the southeastern portion of that country will also be uninhabitable virtually forever. The first thing that our Chairman, Igor Tolstoshein, said to me when he picked me up at the airport was, "Why is President Bush uniting all of Europe?" His observation was most perceptive. As a matter of defensive reaction to increasing economic exploitation, Europe is indeed uniting in unimagined ways as Germany invests in Russia and Russia enters into agreements with Germany and France for upgrades of the MiG 29. Indeed, I again strongly concur with Michael Khazin that the WTO and globalization will fail as the world retreats into three dominant economic spheres of activity: The Western Hemisphere, Europe, and Asia. What is most telling here is a recent quote by U.S. Senator John McCain as the United States strenuously opposed the creation of a European Union Rapid Deployment Force. In discussing NATO he said, "The issues that confront us go to the very core of our existence as an alliance. Fundamental questions regarding the future of NATO stand before us. I am afraid that our geographical divide is increasingly becoming a functional one. Our perspectives are diverging." In order to respond to this crisis what is essential is that the world find new ways of creating wealth that are beneficial rather than destructive. I refer this Congress to the web site of former U.S. Assistant Secretary of Housing and former managing Director of the Wall Street investment bank Dillon Read, Catherine Austin Fitts. She is a true innovator in alternative means of wealth creation and she has been my greatest tutor on matters of economics and fiscal policy. Her web site is at www.solari.com. I regret that she was not at this Congress. But she is very accessible and eager to help create a safer, healthier and more profitable world. She has a profound understanding of American political economics and a wealth of information to offer those seeking creative solutions. I would like to thank the Chairman for this opportunity to address this body and conclude by saying that I am an optimist and I believe that the world will survive these impending challenges even though I am afraid that there will be some serious dislocations before the crisis passes. |
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