America's Fiscal Collapse: Privatization of the State

OK this is my first proper thread here, linking to a Global Research article by Michael Chossudovsky in which he argues that the programs of bailouts and stimulus packages are not nationalizing the banks, they are in fact privatizing the State.

America's Fiscal Collapse

The "bank bailouts" (involving several initiatives financed by tax dollars) constitute a component of government expenditure. Both the Bush and Obama bank bailouts are hand outs to major financial institutions. They do not not constitute a positive spending injection into the real economy. Quite the opposite. The bailouts contribute to financing the restructuring of the banking system leading to a massive concentration of wealth and centralization of banking power.

Public spending will be slashed with a view to curtailing a spiralling budget deficit. Health and education programs will not only remain heavily underfunded, they will be slashed, revamped and privatized. The likely outcome is the outright privatization of public services and the sale of State assets including public infrastructure, urban services, highways, national parks, etc. Fiscal collapse leads to the privatization of the State.

The mainstream media suggests that the banks are being nationalized as a result of TARP, In fact, it is exactly the opposite: the State is being taken over by the banks, the State is being privatized. The establishment of a Worldwide unipolar financial system is part of the broader project of the Wall Street financial elites to establish the contours of a world government.

What we are dealing with is the fraudulent transfer and confiscation of lifelong savings and pension funds, the fraudulent appropriation of tax revenues to finance the bank bailouts, etc. To understand what has happened: follow the money trail of electronic transfers with a view to establishing where the money has gone. What is at stake is the outright criminalization of the financial system: "financial theft" on an unprecedented scale.

Hope that's not too much external content. The main reason I am posting this is that it seems to make a lot of sense to me as an explanation of "What's really going on" but I'd like to hear anyone else's views.

Thanks.

The only thing I am afraid is that all this will be in the hands of foreign countries specially those that are the ones that hold the majority of Americas debt.

Well that's basically what he's saying.

Some of the creditors of the US Gov are domestic, but many are foreign; it's an international sell-off to the international financial elites, for the purpose of creating a "worldwide unipolar financial system" to quote the article.

I would imagine that the same applies to other countries also going for bailouts, the UK, my own country, among them, but Chossudovsky is concentrating on the US in this article.

[edit on 8-3-2009 by liminus]

He is concentration in the US because the financial crisis that now is affecting the entire world started in the US.

The collapse of the mortgage industry prompted a collapse within global banks, even I was amazed at how big the ramifications that the collapse had on the entire global banking system.

Even China was affected also, something that no even the investors in China knew about it.

I believe it's more than that: This is possibly the 3rd financial disaster orchestrated by the bankers behind the Bank of England, FED and other Central Bank systems.

The first was the Panic of 1907, the second was the Crash of 1929, and now this.

(There may be more such as the near-collapse of the dollar system in 1971 which led to Nixon's abandonment of the gold standard and the petrodollar deal with OPEC, and the crash of 1988, but I don't know enough about those to say.)

Each orchestrated crash has consolidated power in the hands of international financial elites, and the current crisis is the final step to effectively privatize so many elements of the State itself that the State becomes an impotent puppet.

If you look at the CAFR stuff, it's more or less the same thing. The goal is just to create the illusion of nothing left of the "government" and the bank as the hero. But, the government owns the banks and the banks own the government. The effort is to create the "Rationals" that justify takeover. The left hand gives money to the right hand but in reality they're both part of the same body. The boldness of today's situations shows both the sense of power and control by the NWO and, I think, the desperation of the NWO to solidify control before everyone and abandons the government and the existing "Legal System" for a new one. People will reach a point of realizing their are no obligations nor national debts only a massive international fraud.

I can see this happening, but I don't see it working. It is just going to bring the foreign companies down. If you think there is a lack of confidence now, wait until people find out that our financial sector is owned by foreign interest.

They have to release the info at sometime. If they keep it secret it is only delaying the inevitable, TPTB lost the game. They just aren't willing to accept it.