From: wolda002@umn.edu
Date: Thu Dec 03 2009 - 23:25:25 EST
This article appears in the December 4, 2009 issue of Executive
Intelligence Review.
The Problem Ain't Dubai: It's London!
by John Hoefle
Nov. 27—Death never takes a holiday, and neither does the global
breakdown. While the attention of America was distracted by the
Thanksgiving holiday, the British Empire was on the move, making decisions
which include a planned early dumping of President Barack Obama.
The "Dubai crisis," as it is being mis-reported, is actually the breakdown
of the London-centered global monetary system. Far from being a mere
backwater, Dubai occupies a key place in the dope-running, dirty money,
criminal organization which is the empire. To view this merely as a "Dubai
crisis," is to miss the point entirely about the nature of the period.
Lyndon LaRouche observed Nov. 24:
Since January of this year, but most clearly since the beginning of April,
the United States and world civilization, but particularly the United
States, is in a process of self-destruction.
What you're having now—it should be obvious to you all—is a general
breakdown of civilization. This is not a financial crisis, though there is
one there. It's not an economic crisis—there's a real big one there. But
it's a breakdown of civilization... the entire society, especially
immediately in the United States, is disintegrating.
The next day, while the American press was busy exhorting Americans to gear
up for a Black Friday shopping frenzy, the next phase of the collapse was
beginning, in London, and Dubai.
Hello, Dubai
The public portion of the crisis began when Dubai World, a corporate front
for the royal family of the tiny nation, announced that it was requesting a
six-month moratorium on its debt payments. The move sent European stock
markets plunging on Thanksgiving Day, followed by Asian and U.S. markets
the next day, as fears of a new round of losses spread around the world.
Bank stocks were hit the hardest. Dubai World has some $60 billion of
debts, about half of which is reportedly owed to European banks. The
company went deep into debt to fund one of the craziest fantasies we've
seen in a while, the turning of Dubai into a tourist destination and
pleasure center. It created a series of opulent man-made residential
islands, shopping malls, luxury hotels, and high-rise towers, filled with
nearly every amenity possible, except maybe good taste. The game worked for
a while, but then the financial system blew, and real estate values fell by
50%.
The bank debt and the real estate values are trivial, however, compared to
the subterranean money flows which form the real economy of Dubai. The tiny
emirate is the central black market for the empire's black-market system,
the financial capital of the world's dope and hot money trade. Dubai today
plays a role similar to that of Hong Kong in the earlier days of the
British Empire, its high-rises home to some of Afghanistan's most powerful
drug lords, among other narcotrafficking kingpins. This is the real reason
for Dubai's emergence as a financial center.
Dubai is run top-down by the British, built largely with British money, and
by British-linked construction firms. Most government agencies have a
member of the Dubai royal family as the titular head, with a Brit second in
command and actually running the operation. It should come as no surprise
that Sheikh Mohammed, the ruler of Dubai, went to London to visit Queen
Elizabeth, Prime Minister Gordon Brown, and others, in the days immediately
preceding the Dubai World announcement. As the Sheikh himself said, the
whole thing had been "carefully planned in advance."
What's Next?
The full extent of what the British have planned remains to be seen, but it
is clear that they are not at all happy with the state of their empire, and
when they are angry, they tend to lash out. They also tend to make
mistakes, which works to our advantage.
Whatever they do, the disintegration will continue. As LaRouche has
observed, the system is collapsing faster than the imperialists can put
their fascist measures into place, forcing them to constantly react to
forces beyond their control. The only way to stop the slide into a new Dark
Age, is the full implementation of the LaRouche Plan.
The crash is on. Nothing has been solved, not by all the criminal bailout
schemes, not by the so-called stimulus plans, not by the "recovery" lies of
the clueless cheerleaders. Through it all, the financial losses have grown,
and the physical economy has collapsed. Look at the number of people who
have lost their jobs, the number of families who have lost their homes, the
number of state and local governments which are now hopelessly bankrupt and
cutting services beyond the marrow. This is reality, and it is getting
worse.
Rather than moving to help their people, governments are turning openly to
fascism. Trillions of dollars for the bankers, but nothing for the people.
We get medical cuts for the elderly, cutbacks in cancer screening, and
other such measures. These fascist policies continue to be pushed down our
throats. The government knows the people are opposed to these measures, but
it imposes them anyway.
All of these policies originated in Britain, where a callous disregard for
the welfare of the people by a self-serving and fascist elite is the
hallmark of that inferior society. Welcome to more British Empire.
More Coming
The empire, and its colonial flunkies in the United States—like President
Obama—know the current system is finished, and they are working
feverishly to keep us preoccupied while they dismantle what few protections
we have left. Much of this is being done under the false flag of
reform—financial reform, health-care reform, tax reform, energy-policy
reform, and others—austerity, and further concentration of power in
oligarchic hands, sold by the behaviorist psychos as progress. The "new and
improved" version of the same old fascism.
Look at the banking reforms that are being pushed by the Brits, their Wall
Street agents, and their pets in Congress, like nasty Nancy Pelosi and
"Bailout Barney" Frank. Notable are the moves to make it easier to break up
bankrupt financial institutions, and the proposed tax on financial
transactions. On the surface these may seem like reasonable policies, but
they are not, at least in the context of the existing system. Absent
LaRouche's bankruptcy reorganization, the anti-"too big to fail" moves are
really just ways to make it easier for the imperial banks to gobble up
their competitors, and the transaction tax a way of charging the victims
for being eaten.
No one should ever forget that it was the British Empire that organized and
financed the wave of fascism which struck the world in the 1920s and 1930s,
the British Empire which gave us Mussolini and Hitler. The empire is still
fascist, but since Hitler made it impossible to sell fascism in its own
name, it has now been repackaged, as globalization and environmentalism.
"It's not austerity, it's saving the planet! You still die, but now it's
for a 'good cause.' Don't you feel better already?"
The LaRouche Plan
The only way to stop this descent into Hell is to break the grip of the
British Empire over the world, and that means busting up its monetary
system. We must take away its power to control money, and give that power
to sovereign governments. If that sounds radical to you, just remember it's
what the Constitution says on that, and that our divergence from the
Constitution opened the door to the current disaster. If we don't break the
power of the empire, nothing else we do will make a damn bit of difference.
Nothing!
Rather than propping up the casino, we shut it down, writing off all
derivatives, putting the mountains of speculative debt in the freezer, and
reorganizing the banks under strict regulations. No more derivatives, no
more casino. Finance becomes what it should be, the servant of real
economic activity. Real bankers will love it, and the gamblers—well, who
really cares!
We do this in conjunction with Russia, China, and India—and any other
nation which wants to join—to form a bloc powerful enough to force the
empire into submission. Sorry, Queenie, no more empire.
That done, we can turn our attention to improving the conditions of life on
the planet. That means science and technology, infrastructure and
production, education and creativity. Rather than going to Hell, we can go
to Mars!