Thursday, September 18, 2008

Denninger warns of US political failure

Every now and then I have enjoyed reading Karl Denninger's Market Ticker on current events. His most recent video, which he warns may be his last, warns that the line crossed by the Treasury and Federal Reserve in creating new money to bail out Wall Street will - if unchallenged - lead to the political failure of the United States and its constitutional government as a representative democracy. He makes some very good points.

Unlike most people, I knew in 2002 and early 2003 that the United States was determined to attack and occupy Iraq because I have a long memory for bank failures. I knew that Ahmad Chalabi was the same forger, embezzler and fraudster who had looted Bank Petra of $300 million before fleeing Jordan, almost causing the collapse of the Jordanian economy. Since all the intelligence fabricated for the war emanated from Chalabi's Iraqi National Congress, I knew the whole thing was being orchestrated by authorities.

I get the same queasy feeling today about events on Wall Street, and like Denninger, I wonder what the plan really is for the nation as more and more lines are crossed with extra-legal executive authority. I did not expect in 2002 and 2003 that war for oil in Iraq would lead to black sites, renditions, torture, Blackwater deployed in New Orleans, and other proximate results of a lawlessness and unaccountability that remained unchallenged and unchecked. I do not know what to expect of the USA in the years to come. That worries me deeply.

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