Saturday, March 30, 2013

CURRENCY WARS Series Cyclone Cellar WORLD BANK and Karen HUDES, JD Reporting Corruption, DC/Disneyland Congress, ICE/Iron Curtain Eclipse ~MEDIA MIA RE: Dollar Death, Et Cetera ~ETC

Karen Hudes, JD, Law ~Reporting Corruption up the Chain of Command ~I worked in the Legal Department of the World Bank from 1986-2007.  But in 2007, I was fired in retaliation for reporting corruption at the Bretton Woods institutions up the chain of command at the World Bank, through the US Treasury Department, and to the US Congress.  My report was quite specific, namely:  that the World Bank is out of compliance with the law, because its financial statements to the holders of its $135 billion in bonds, which are denominated in 52 currencies, are not in accord with Generally Acceptable Accounting Principles and Auditing Standards.

I never imagined how intractable the corruption at the World Bank was. A reliable stakeholder analysis, based on game theory modeling, shows that failure to adhere to the rule of law by the World Bank will bring about a world-wide currency war that will make what we lived through in 2008 pale by comparison.

                                                                      Thursday, March 28, 2013, Contributed by Chriss Street. Specialist in corporate reorganizations and turnarounds, former Chairman of two NYSE listed companies. His latest book, The Third Way, describes how to achieve management excellence and financial reward by moving organizations from Conflict and Confrontation to Leadership and Cooperation. He lives in Newport Beach, CA ..The reign of the United States dollar as the only reserve currency in the world may be coming to an end. Over the last five years, the U.S. centric balance of economic and military power has been destabilized with the crumbling of the social welfare states of the European Union and the rise of the state sponsored capitalist BRICS -- Brazil, Russia, India, China and South Africa. After 70 years of the dollar’s supremacy,  the BRICS at their summit in Durban, South Africa, have reached an agreement to establish a *joint *financial *institution that would *serve the *same *functions as the *American dominated *International Monetary Fund and *World Bank. With America hurting and Europe terminally burdened by over indebtedness and loss of economic competitiveness, the BRICS appear to be seizing the opportunity to attack the dollar’s preeminence.

As World War II was moving to its end in 1944, the U.S. and 43 allies reached an agreement at the Bretton Woods Conference to organize the International Bank for Reconstruction and Development to finance the rebuilding of Europe. The conference led to the establishment of the General Agreement on Tariffs and Trade, the International Monetary Fund and later the World Bank to promote international trade, finance and the globalization of securities transactions. The agreement allowed the United States to bind countries into a capitalist bloc alliance during the Cold War. The key to these arrangements were the U.S. dollar as the world’s reserve currency and U.S. military as the world’s policeman.

Brazil, Russia, India, China, South Africa – The BRICS Nations – Propose Creating Their Own Version Of The IMF, World Bank

Herein lies the rub ~Howlin Coyote Lane, Mar 30, 2013,

Idiocracy stole US of A, fraudulent insatiably greedy "billionaires" rode hard, rolled-out wet wars never ending our lifetimes, terrrrrrrrrrrrrrrrrr bought and paid for via Disneyland Congress in its Iron Curtain Eclipsed "Media," that has failed miserably ... what we got here for the "Project for a New American Century,"  CURRENCY WARS and that is all folks, add the failed bad art cartoon characters!

"... Hudes .. The Failure of Press Coverage: One reason it is so difficult to end the corrupt regime at the World Bank is because there has been virtually no press coverage.  It is possible to conclude from this that democracy in the United States has been weakened by the reduction in the number of corporations who own the bulk of US media outlets (from 50 to 5 in less than twenty years.)  Barclays Bank, JPMorgan Chase & Co, The Goldman Sachs Group along with a few others use interlocking corporate ownership to control 40 percent of total wealth and 60 percent of global revenues. 


This concentration of power rests on disproportionate corporate investments of one percent of all corporations.  Theorists at the Swiss Federal Institute of Technology in Zurich, using natural systems mathematical modeling and comprehensive data on the actual corporate ownership of 43,000 transnational corporations, discovered this concentration of power.  When questions are raised about “who controls the world”, this one percent looks like a very promising candidate. The crux of the matter is that the corporations control the mass media and, through the mass media, control the politicians.

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