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Talking Headlines - by Bill Green

 

THE ECONOMIC REVOLUTION IS IN PLAY AND WE'VE LOST

October 12th 2008 02:37
Can you recognise a revolution when you see one? Most revolutions have a smidgeon of blood somewhere so the revolutionaries get fired up about injustices and become determined to fight on. This revolution is entirely about economics, you may think. It's about governments socialising the banks of their countries, perhaps?

There is a country that has lived with revolutions and various oppressions and it runs North KOREA's blackmailing of the US and it has now bought into the western banking system in a big way. The Herald Tribune reported that the Bank of China had purchased a 20 percent stake in Rothschild, which means a share of the US Federal Bank (so I've read) and the UK banking system.


Above and beyond that they own billions in US dollars. If they sell the US dollar down seriously they can then hit on the US government for assets amounting to the debt owed. Does it begin to look like a takeover of the western democracies to you? The only thing preventing such a scenario is the patriotism of the populations of those countries. If you peek at the mental strength of such peoples who no longer have money or fuel to get around you may be skeptical of their capacity to endure a campaign against their new masters, especially as they will have to fathom the complexity of events before they act. Sarah Palin's simple responses (I can see Russian from my stoop) to foreign affairs matters is appealing but hardly appropriate when real politic is involved.

How do I know North Korea is ruled by China? I traveled to China with a deputy prime minister and in his entourage was a broker who had sold wool to North Korea and never been paid. He prevailed upon the Chinese government to have North Korea give him recompense - within days. I've since watched some of the embarrassments China has inflicted on the US using North Korea. It goes on. Yesterday the US agreed to stop calling North Koreans terrorists.


That trip involved the meeting of three cultures: the Australians actually prevailed over the Americans and Chinese in those days but only because of the strength of their laconic and skeptical culture. But the Australians used CIA spying gear, and some were approached to become spies for China. The Chinese bureaucrats were exposed in all their obsessive nastiness, as were the Americans.
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