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GLOBAL FINANCIAL MELTDOWN, SOCIOECONOMIC
INJUSTICE AND WAR:CAUSE AND REMEDY
Saturday April 5th 2008 - 9am-6pm £10
Abrar House, 45 Crawford Place,
London WIH 1LP - click for STREETMAP
(neaerst tube stations, Edgware Road, or Paddington)
Global Vision 2000 will be hosting a special one day conference
on " The Global Financial Meltdown, Socioeconomic Injustice
and War: Cause and Remedy " on Saturday 5th April 2008
in London. As an independent international Islamic
thinktank it will be building on previous events focussing
on these issues. This time it will bring together some of
the UK's leading independent political and economic thinkers,
writers and campaigners to focus on these issues at a time
of crisis and turbulence in the global financial markets and
impending recession and ongoing wars raging around the world.
The significance of the event is underlined as it is clear
that the credit bubble has combined with the housing bubble
and the falling dollar to lead to an unfolding deepening economic
crisis centred in the USA but rippling across the world. The
speakers will be offering an alternative holistic diagnosis
and prescription on what needs to be done urgently to address
this crisis. This is desperately needed as vested interests
such as mainstream bankers and financial journalists are clearly
disguising the nature of the crisis as confidence in the capital
markets and banks will result. The connection with socioeconomic
injustice will be highlighted with why poverty and underdevelopment
persists globally. Also the connection with war will be examined
by throwing light on the military industrial complex's relationship
with this system.
This event brings together both leading Muslim and Western
thinkers and movements seeking monetary and political reform
at a time when Western democracies credibility is being questioned
post 9/11. The Global War of Terror has given rise to a discourse
of a "long war" and the rise of McCarthyism and
the surveillance State sold to the public on the rhetoric
of counterterrorist policies. It is time to steer the discussion
on the real crisis and issues of the age which is the legitimacy
and nature of the system we are in living and transacting
within.
This special event is guaranteed to enlighten and inspire
the people with the knowledge, tools and networks to be the
change. A must attend event for the perplexed seeking guidance
for themselves, their families and communities. There will
be opportunities to interact with the panellists in Q &
A sessions.
Highlights and speakers of the event include-
A special film on debt and liberation from
it will be screened.
IslamicFinance.com - Tareq Diwany - Islamic finance expert
and Author of the Problem with Interest
Christian Council for Monetary Justice & the Global Justice
Movement - Canon Peter Challen - Co-author of Seven steps
to justice
Bandung2 Dr.Mustafa Ali - Critical theorist of Western Imperialism
and racism in Britain.
Sajjad Khan - Editor of New Civilisation
Forum for Stable Currencies - Sabine McNeill - Monetary reformer
Global Vision 2000 - Dr.Muhammad Ahsan - Author of Globalisation
or Recolonisation of the Muslim world
International Islamic reformer David Pidcock - ex head of
Islamic Party of GB - Author of the Road to Serfdom
Open Capital Chris Cook - ex director of the London International
Petroleum Exchange
Movement for the Abolition of War Chairman - Dr. Tony Kempster
- Campaign Against Arms Trade
TGL.tv Peter Forrest
£10 attendance fee
Abrar House, 45 Crawford Place, London WIH 1LP - click
for STREETMAP
(neaerst tube stations, Edgware Road, or Paddington)
For
further information contact 07818 082011 or myaseen@globalvision2000.com
GLOBAL VISION 2000 LINKUP
January 2008
Eid Mubarak and New Year Greetings
Dear Global Visionaries,
This is the year when the global economy has been plunged
full steam ahead into uncharted turbulent waters. The situation
is similar to a crash which has occurred with the driver having
hit something big and nasty but there is a delay before the
driver who doesn't even have a seatbelt goes flying through
the window. The banks have collapsed and they are bankrupt
and are in denial due to the vested interests of bankers and
economists. The secular democratic neoliberal order is resorting
to economic cannibalism. In this crisis there is an urgent
need for the demystification of money and terminology and
the false science of economics exposing the false religion
of economics disguised as a science. We may have no
other choice but to imitate Jesus chasing the Moneylenders
from the Temple in earlier times. The religion of the day
is the Free Market and Market economy which needs exposure.
The situation we are in resembles the Middle Ages wherein
the Priesthood spoke a language namely Latin which though
the ordinary people could not understand was the medium through
which eternal salvation and damnation was pronounced. Now
what we have is the enthronement of an Financial Priesthood
which has made Economics,the Market and Homo Economicus are
Mammon which we all need to worship and be prepared to be
sacrificed.
We are at the start of a financial tsunami heading for the
perfect storm of a housing bubble, credit bubble and the decline
of the imperial dollar. The subprime mortgage crisis merges
into a "credit crunch," which itself merges into
a solvency crisis of the international banking system. Central
banks initially stressed asserting market discipline and letting
speculators take their losses are now backing bailouts to
keep the whole system afloat.
The illusion of a successful free market economy has depended
upon the accumulation of vast amounts of debt, with households,
businesses, governments, and financial markets all depending
upon debt. The ability to finance that debt depended in turn
upon the ability of the banks to turn loans into securities
that could be sold to speculators, moving the loans off the
banks' balance sheets to the investment community. The
end of securitization will wreak havoc with the ability of
the economy to finance itself with debt. The collapse will
devour into the balance sheets of the commercial banks, the
investment banks, the insurance companies and other financial
institutions and the lives of people.
This has led to the dollar nosediving and despite 750 billions
injected by Central banks is leading to a hyperinflationary
situation like 1923 in the Weimar Republic in Germany and
run on the banks. This isn't just a credit crunch but a bankruptcy
crisis. As shown by the bailouts of commercial banks by the
Central Banks. Bankers are frantically trying to waken a dead
system which died in the summer. The banks are bankrupt. The
banks are admitting to writing off billions of debt in the
form of toxic waste and junk paper. Leveraged lending is discredited
as there is unsalable financial paper and noone trusts anyone
over whether loans can be paid back. Investor banks are being
investigated such as Goldman Sachs, Merrill Lynch, Deutsche
Bank, Morgan Stanley and Bear Sterns on whether they sold
risky mortgage backed securities to investors globally in
bad faith. The greatest casino economy established by Greenspan
is over and out. The bubble is now going inwards and this
artificial economy will impact on the real economy.
The situation we find ourselves in is complex as peeling
the skin of an onion. There are layers of history underpinning
this crisis. The Kondratieff cycle occurring every 60 years
is on the horizon. Since 1987 printing money was injected
into the economy under Greenspan which was intensified after
the dotcom bubble in 2002-2007. Since 1987's deregulation
there has been the development of volatile financial instruments
such as credit derivatives, derivative futures and collaterallised
debt obligations, SIVs. In which reselling debt is new and
leading to casino capitalism. The saturation point of debt
and leverage has arrived. The US is buoyed on 10 trillions
of borrowed money which has created an unfortunate sense of
prosperity. Prior to this was the dollar's move from the Gold
Standard and Fixed exchange to the floating exchange in 1971
and the rise of the petrodollar i.e. the use of the dollar
peg for oil trading. Since 1963 with the assassination of
JFK there has been a criminal mafia in control of the USA.
Underpinning this was the Breton Woods agreement in 1944 which
established the dollar as the Universal reserve currency.
Underlying this is the establishment by a criminal mafia since
1913 of the US Federal Reserve Bank which means that under
the regime of the world's all powerful central banking system
money has been brought into existence as debt bearing loans
with Fractional reserve banking and fiat money. This racket
needs massive exposure fast. The origins can be pinned back
to 1694 with the establishment of the Bank of England in the
city of London.
It is in this context that the Bush administration has engineered
wars to corner the global oil trade in Iraq and Iran which
is to forestall the demise of the dollar as the world's reserve
currency. The US dollar hegemony is being maintained so that
fiat money is traded for precious resources. Bush wars are
about retaining the dollar as the premier world trading currency
which requires the physical control of oil resources. The
dollar is a fiat currency monopolising the trading of oil. 9/11(An
inside job) and oil resource wars(illegal and unjust
wars) actually signal the economic weakness of the USA. The
American strategy is to retain the hegemonic dollar system
by the military control of Eurasia. It needs to
be noted that the 1944 Breton Woods was broken in 1971 when
the dollar peg to the gold standard was broken. This was when
the dollar was not fixed to gold but the printing press of
the Treasury/ US FRB. The Imperial dollar is a political currency.
The powerful financial elite realised that they could have
more global influence via debt but that oil needed to be traded
in dollars. Given countries need for dollar reserves US Fed/Treasury
knew that more US debt will be bought to retain global financial
stability. ie. the debts of the USA are the assets of the
rest of the world which is the basis of their credit system.
It is only now a question of time before it loses it's status
as the world's reserve currency. The oversupply of dollars
is due to budget and trade deficits created by the offsourcing
practices of US corporations has converted US GDP into US
imports. There has been a consumer focussed growth strategy
with low interest rates on debt and on a transfer of ownership
of assets. The US has been living beyond it's means with consumption
greater than production and foreign ownership. Cheap money
followed by injecting new money will lead to inflation. Devaluation
of dollars will increase trade deficits leading to falling
living standards. The US financing wars(debt) and cheap money(debt)
has led to oil price rises and has made the dollar peg to
oil difficult to sustain.
The OPEC countries can not adopt the monetary policies of
a reserve currency. Kuwait broke off the dollar and GCC States
will break off the dollar to control inflation. Indeed the
Iranian Oil Bourse is now scheduled to be officially launched
in February 2008 to coincide with the 29th anniversary celebrations
of the Islamic Revolution. It will trade oil, gas and petrochemicals
in nondollar currencies. The peg to the dollar will break
and oil trading will be pegged to a basket of curencies and
oil will not be priced in dollars. Also Wahabbi scholars in
Saudi Arabia have issued what amounts to be a fatwa against
the dollar which the Saud ruling dynasty needs to heed seriously.
There will also be divestment from dollar denominated holdings
by sovereign wealth funds.It appears that the dollar will
end up in the fiat currency graveyard. It has not been backed
up by gold/silver since 1971 which has led to fiscal monetary
crises. The arrogance of dominance has led to the current
predicament in the collapse of the dollar.
It is clear now that the IMF, World Bank and the Federal
Reserve are colluding to impose a stranglehold over the world
economy and how the subprime mortgage and credit crisis is
simply a means by which the global elite can bankrupt and
seize America. The globalists manufactured the fake fiat money
system to create artificial bubbles which were then popped
so the elite could consolidate wealth,collect and own the
tangible infrastructure of the world.
We are indeed at the end of history mentioned by Francis
Fukuyama but the end of history will be marked not by the
triumph of capitalism. The financier class's accumulated purely
fictitious financial gains from predatory speculation are
collapsing mimicking the experience of Weimar Germany in 1923.
The predatory power of the financial elite has to be defeated
via a coalition of powerful nation states and monetary reformers.
The real battle is between those who know the system is gone,
and want to decide the nature of its replacement. On the one
side are the forces which place welfare and interests of the
people who want to put the financial system through bankruptcy,
putting up firewalls to protect the general welfare of the
citizenry, stopping home foreclosures and freezing the mass
of financial claims until the wheat can be separated from
the chaff. The speculative claims and fictitious values can
be written off over time, while the elements necessary to
protect the proper functioning of the economy can be protected,
and the economy rebuilt. On the other side are the forces
of the international financial oligarchy, organized around
the Anglo-Dutch rentier-financier model. Their intent is to
use the crisis to destroy the power of the nation-states and
to restore the power of the empires, in a world dominated
by imperial financiers and their trading cartels. To this
crowd, people are but expendable peasants, little more than
herds of cattle to be managed, sometimes slaughtered. What
motivates the oligarchy is power, the ability to rule the
world for the benefit of a small ruling class. In their view,
the nation-states, in particular the historic United States,
usurped their power, and they intend to reclaim it. They have,
in fact, already made large steps in that direction.
This is a political fight rather than a financial one. The
financial system is already gone and cannot be resurrected,
and there are no serious attempts to do so. The moves by the
central banks and the regulators are not intended to bring
back the bubble, but rather to attempt to control its disintegration
and buy the time to establish the replacement system. The
money is already gone. London became the financial center
of the new derivatives game. The City positioned itself as
the casino, profitting from the gambling of others and, through
its network of offshore centers like the Cayman Islands, it
lured its rivals into the trap. Murdoch's launching of the
Fox Business channel and the Wall Street Journal provide the
City with a platform to undermine the credibility of U.S.
institutions.
Pending which party wins the world would descend into
a fascist nightmare: Governments stripped of what little remains
of their abilities to protect their populations from imperial
looting, corporate cartels gouging populations in an age of
austerity, population reduction, and utter chaos—with
the City of London ruling over whatever pile of rubble is
left.There is another option or PLAN B wherein the security
and prosperity partnership could be the cover for a North
American Union with an unified currency called the Amero created
by the shadowy globalists such as the Bilderbergers, Trilateral
Commission and CFR. This is another building block in their
plans for a World Government. This agenda will be fully exposed
soon in another editorial.
Having painted an impending picture of doom and gloom
Global Vision 2000 remains available to render it's services
to the restructuring of the new global financial architecture
for the 21st century which works for ALL. The crisis exposed
is a threat and an opportunity.
Solutions
Freeze everything and have a Bankruptcy re-organisation here
all Central Banks are brought under control of the National
sovereign government. The present world monetary system must
be placed under the status of bankruptcy reorganisation given
the bankruptcy of the US FRB and a New Breton Woods Agreement
to restructure the global financial architecture.
All central banking systems independent of sovereign
Governments are placed under sovereign powers of Constitutional
government. FRB no longer as a bank of issue.
Banning of bank credit and the cancellation of debt.
Moeen Yaseen
Managing Director
Global Vision 2000
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