Larry Summers and the Secret “End-Game” Memo By Greg Palast

22 August 2013 — Vice Magazine

When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn’t believe it. 
 
The Memo confirmed every conspiracy freak’s fantasy:  that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet.  When you see 26.3% unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.
 
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American Power and the Making of British Capitalism By Jeremy Green

4 June 2013 — New Left Project

On the opening page of their superb work on the political economy of the American Empire, Leo Panitch and Sam Gindin outline the fundamental premise of their study: that the American state has played ‘an exceptional role in the creation of a fully global capitalism and in coordinating its management, as well as restructuring other states’.[1]  This is undoubtedly true, and today British capitalism bears the indelible imprint of American power.  Mirroring the diplomatic ‘Special Relationship’, so often referred to, has been a deep integration and co-development of these two states and of the form of capitalism that they sponsor. 

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Reshaping Fiscal Policies In Europe: Enforcing Austerity, Attacking Democracy By Hugo Radice

13 February 2013The Bullet • Socialist Project • E-Bulletin No. 772

On December 9th 2011 the European Council announced a new Fiscal Compact, as part of the series of measures undertaken in order to resolve the Eurozone sovereign debt and banking crises. It was incorporated into the Treaty on Stability, Coordination and Governance (TSCG), signed by 25 <strong class=’StrictlyAutoTagBold’>EU governments in March 2012, subsequently ratified by the signatory national governments, and in force from January 2013.[1] The Compact includes a commitment by those governments to a cap of 0.5% on the ‘structural deficit’ implied by their annual revenue and expenditure plans. It also reinforces the existing Maastricht Treaty fiscal rules through an obligatory adjustment procedure, to be enforced by the European Court of Justice. Continue reading

America’s Deceptive 2012 Fiscal Cliff By Michael Hudson

28 December 2012 — Michael Hudson

How today’s fiscal austerity is reminiscent of World War I’s economic misunderstandings

When World War I broke out in August 1914, economists on both sides forecast that hostilities could not last more than about six months. Wars had grown so expensive that governments quickly would run out of money. It seemed that if Germany could not defeat France by springtime, the Allied and Central Powers would run out of savings and reach what today is called a fiscal cliff and be forced to negotiate a peace agreement.

But the Great War dragged on for four destructive years. European governments did what the United States had done after the Civil War broke out in 1861 when the Treasury printed greenbacks. They paid for more fighting simply by printing their own money. Their economies did not buckle and there was no major inflation. That would happen only after the war ended, as a result of Germany trying to pay reparations in foreign currency. This is what caused its exchange rate to plunge, raising import prices and hence domestic prices. The culprit was not government spending on the war itself (much less on social programs).

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Audio: The unstable politicians in the US are dangerous – WikiLeaks spokesperson

20 December 2012 — Voice of Russia

In an exclusive interview with the Voice of Russia, WikiLeaks official spokesperson Kristinn Hrafnsson speaks about the Freedom of the Press Foundation and their new initiative to provide help and assistance to members of the press who are being persecuted for seeking to tell the truth. In particular the FPF offers a way to circumvent the illegal extra-judicial blockade against WikiLeaks. He also talked about unstable and dangerous American politicians. Continue reading

European Parliament votes to protect Wikileaks against financial blockade

21 November, 2012The People’s Record

European Parliament votes to protect WikiLeaks. In a landmark decision today the European Parliament initiated the drafting of legislation that would stop the arbitrary banking blockades against WikiLeaks and other organizations facing economic censorship. This is an important signal from the European lawmakers. It is a recognition of the seriousness of the precedents set in December 2010, still in force, when Visa, MasterCard, PayPal, Western Union and Bank of America launched a unilateral, extrajudicial banking blockade against donations to WikiLeaks.

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On 9/11 Doubts Were Immediate By Dr. Paul Craig Roberts

On September 11, 2001, a neighbor telephoned and said, “turn on the TV.” I assumed that a hurricane, possibly a bad one from the sound of the neighbor?s voice, was headed our way, and turned on the TV to determine whether we needed to shutter the house and leave.

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