QE2 Is a Total Failure and Bernanke Is Delusional About Inflation

Monday, February 14, 2011
By Paul Martin

Bob Chapman
International Forecaster
Feb 14, 2011

The discontent and seeds of rebellion existed for a long time in Egypt as it has in many other countries. The major powers of the world were content with Mr. Mubarak, especially the US, which gave him $60 billion over 30 years and allowed him to move $70 billion over that period into secret bank accounts in England, Switzerland and Europe, while Egyptians lived on the edge of starvation over that time frame. Both the US and UK never saw a dictator they didn’t like. This was their dictator, as was his predecessor. Mubarak did exactly as he was told including doing everything Israel desired. Mubarak represented stability even though his subjects barely survived. Most of the aid sent by the US was used to keep the military and Secret Police strong to enforce his powerful hold over the people. Thus, the US was happy to have such a “moderate” in power. He helped keep Egypt and Israel in a sea of tranquility in the desert. Mr. Mubarak was a model dictator.

Hunger and tyranny only last for so long and then one way or another they come to an end. You might say that the rebellion in Tunisia against another dictator was the catalyst or forerunner of what happened in Egypt. This was to be where it would all begin. We had seen many such operations over the past 50 years. In both countries the groundwork was all there, poverty, lack of proper food and spiriling food and other costs. All of the change agents were on the scene coordinating the well prepared uprising. The president and his entourage left the country of course accompanied by 1-1/2 tons of gold. Mubarak in Egypt was better prepared. He had been moving out the wealth of the starving Egyptian people systematically for years having been well schooled by his handlers in London and Washington. This planned uprising was not what the planners had expected, particularly in Egypt. More violence was expected. Mubarak is out, although he hangs on to the visages of power, but the real problem for these planners is that their chosen successor, Mr. Suleiman will not be accepted by the people. This is the man who ran the CIA’s retention operation in Egypt and oversaw the torture of innocent people. We can understand why they would not want such an inhuman person to lead them. Just more of the same. There are 25 million young men under 20 years old in Egypt. Does the military want to attempt to kill them? We do not think so. Those are insurmountable odds. People in Egypt are fed up and threatening them with death for demonstrating in the streets in the worst thing the Vice President could have done. The gauntlet has been thrown down to the people and that was a very bad idea by those who prefer force to persuasion. It seems the current government doesn’t at all understand that it’s their job to safeguard the people not to threaten them.

If you have any doubt as to who planned this episode we refer to secret meetings in Washington set up to decide who was going to replace Murbarak and how quickly it could be accomplished. That was a week ago and no headway has been made by the US, because all of their replacements are unacceptable to the people. After causing this fiasco the US and UK find they have lost control, at least for the moment, in their effort to retain Egypt aa a client state. We think that this diversion is going to be very expensive for both parties. They jeopardized power over Egypt to distract Europeans and Americans from their terrible economic and financial situations. The choice has turned out to be a very poor one and even if they cobble together a solution the relationship with Egypt will never be the same. Who ever planned this caper should have their head examined. That said, the discontent was obvious and the US stepped in for what they saw as an opportunity to distract fears in the US and Europe over the financial situation there and it backfired. Part of the American colonial empire could be lost here in a foolish gamble. This is all about power and the misuse of power, as well as the subjugation of 80 million people. America was a partner in Egyptian despotism long before Murbarak came to power 30 years ago. Blowback has begun and short of sending US troops in the US has lost the game. The risk reward for the US in this operation was without foundation. The odds had to be 20-1 it would be a loser and it looks like it is going to be. The White House has admitted their plan is out of their control and much worse the world sees control is slipping away, just as they see the US, UK and European control of the financial nightmare slipping away.

You might ask why did all this happen in Tunisia and Egypt? It was a distraction pure and simple and an expensive one. The elitists behind the scenes are trying to find a way to deal with the eminent collapse of the municipal bond market as hundreds of municipalities choose bankruptcy. Newt Gingrich, neocon Bilderberger, wants to pass legislation to allow states to go bankrupt. That would allow the states to dispense with all or part of their pension and benefit obligations changing their financial obligations dramatically. The concept is horrible for people who worked all their lives for a pension.

The discontent and seeds of rebellion existed for a long time in Egypt as it has in many other countries. The major powers of the world were content with Mr. Mubarak, especially the US, which gave him $60 billion over 30 years and allowed him to move $70 billion over that period into secret bank accounts in England, Switzerland and Europe, while Egyptians lived on the edge of starvation over that time frame. Both the US and UK never saw a dictator they didn’t like. This was their dictator, as was his predecessor. Mubarak did exactly as he was told including doing everything Israel desired. Mubarak represented stability even though his subjects barely survived. Most of the aid sent by the US was used to keep the military and Secret Police strong to enforce his powerful hold over the people. Thus, the US was happy to have such a “moderate” in power. He helped keep Egypt and Israel in a sea of tranquility in the desert. Mr. Mubarak was a model dictator.

Hunger and tyranny only last for so long and then one way or another they come to an end. You might say that the rebellion in Tunisia against another dictator was the catalyst or forerunner of what happened in Egypt. This was to be where it would all begin. We had seen many such operations over the past 50 years. In both countries the groundwork was all there, poverty, lack of proper food and spiriling food and other costs. All of the change agents were on the scene coordinating the well prepared uprising. The president and his entourage left the country of course accompanied by 1-1/2 tons of gold. Mubarak in Egypt was better prepared. He had been moving out the wealth of the starving Egyptian people systematically for years having been well schooled by his handlers in London and Washington. This planned uprising was not what the planners had expected, particularly in Egypt. More violence was expected. Mubarak is out, although he hangs on to the visages of power, but the real problem for these planners is that their chosen successor, Mr. Suleiman will not be accepted by the people. This is the man who ran the CIA’s retention operation in Egypt and oversaw the torture of innocent people. We can understand why they would not want such an inhuman person to lead them. Just more of the same. There are 25 million young men under 20 years old in Egypt. Does the military want to attempt to kill them? We do not think so. Those are insurmountable odds. People in Egypt are fed up and threatening them with death for demonstrating in the streets in the worst thing the Vice President could have done. The gauntlet has been thrown down to the people and that was a very bad idea by those who prefer force to persuasion. It seems the current government doesn’t at all understand that it’s their job to safeguard the people not to threaten them.

If you have any doubt as to who planned this episode we refer to secret meetings in Washington set up to decide who was going to replace Murbarak and how quickly it could be accomplished. That was a week ago and no headway has been made by the US, because all of their replacements are unacceptable to the people. After causing this fiasco the US and UK find they have lost control, at least for the moment, in their effort to retain Egypt aa a client state. We think that this diversion is going to be very expensive for both parties. They jeopardized power over Egypt to distract Europeans and Americans from their terrible economic and financial situations. The choice has turned out to be a very poor one and even if they cobble together a solution the relationship with Egypt will never be the same. Who ever planned this caper should have their head examined. That said, the discontent was obvious and the US stepped in for what they saw as an opportunity to distract fears in the US and Europe over the financial situation there and it backfired. Part of the American colonial empire could be lost here in a foolish gamble. This is all about power and the misuse of power, as well as the subjugation of 80 million people. America was a partner in Egyptian despotism long before Murbarak came to power 30 years ago. Blowback has begun and short of sending US troops in the US has lost the game. The risk reward for the US in this operation was without foundation. The odds had to be 20-1 it would be a loser and it looks like it is going to be. The White House has admitted their plan is out of their control and much worse the world sees control is slipping away, just as they see the US, UK and European control of the financial nightmare slipping away.

You might ask why did all this happen in Tunisia and Egypt? It was a distraction pure and simple and an expensive one. The elitists behind the scenes are trying to find a way to deal with the eminent collapse of the municipal bond market as hundreds of municipalities choose bankruptcy. Newt Gingrich, neocon Bilderberger, wants to pass legislation to allow states to go bankrupt. That would allow the states to dispense with all or part of their pension and benefit obligations changing their financial obligations dramatically. The concept is horrible for people who worked all their lives for a pension

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