G-7 Will Be “All Smiles”

(Conspiracy Nation, 04/09/08) – The G-7 finance meeting is set to begin this Friday, April 11th, in Washington, DC. Some of the discussions will take place behind closed doors. No “gavel-to-gavel” press coverage will be provided. Snippets of the talks will be provided by mass media gatekeepers: they will largely determine what we know. TV images will briefly show G-7 officials shaking hands and “all smiles.”

The “tea leaves” in this Conspiracy Nation report are the pages of the Wall Street Journal. Mysterious lingo abounds. Hidden in the tea leaves are indications of what the future portends.

It was in 1095 A.D. that tens of thousands of ordinary Europeans decided to march eastward and free the Holy Land. Anna Comnena, daughter of Alexius, emperor of Constantinople (now Istanbul), described the phenomenal migration, giving history “buffs” a unique perspective. The original Crusaders “thronged every highway, and with these warriors came a host of civilians, outnumbering the sand of the sea shore or the stars of heaven,” described Anna Comnena. These Crusaders were preceded by a plague of locusts. Strangely, the locusts “abstained from the wheat but made frightful inroads on the vines.” It was thought to be an omen of some sort, that the locusts which heralded the crusaders did not devour the wheat. Soothsayers were consulted. It must mean, they decided, that the “barbarian” horde would refrain from harming Christians (the wheat) but would bring dreadful affliction upon the Saracens (the vines). And so it did occur. The Crusaders passed through Christian Constantinople then later wreaked havoc on the Saracens. (“The Alexiad”, by Anna Comnena. Book 10. Penguin Classics)

A horde of Mexicans had been migrating northward. Many came for jobs, but some came to free the “holy land” from the gringos. An omen was seen: Zachary Taylor turning over in his grave (i.e., exhumation of Taylor). In our case, the soothsayers mis-read the meaning from General Taylor's entrails. (Background: “Zachary Taylor Demands Justice,” http://www.shout.net/~bigred/ZachTay.html) The North American Free Trade Agreement (NAFTA) would be good, they decided. Mexican consumers were eager to purchase American-made products, supposedly. A “Maestro” appeared who papered over the true situation. A “little man with big ears” who had foreseen a “giant sucking sound” was ridiculed. But soothsayers described in today's Wall Street Journal are divining new meaning from Mexican migrations. The swarm of Mexicans heading northward has been falling steeply, an indication of economic malaise. One researcher uses such declines as an economic indicator. Mexicans are lately deciding to stay home for now because of declining employment opportunities. (“Crossings By Migrants Slow as Job Picture Dims,” by Miriam Jordan, p. A1)

In the Eternal City (Washington, DC), “Hanky Panky” Paulson and “Zeus” Bernanke, and their counterparts from the other mighty G-7 nations, are foreseen to favor “transparency.” The hopes are that “sunlight” will expose reckless financial behavior. This “transparency” and “sunlight” will also give central bankers increased access to inside information. (The G-7 used to be the G-8, until Russia was evicted from the consortium.) The so-called “Federal” Reserve is said to be “weighing its options.” At this point, the “Fed” is “out of ammunition.” Seemingly it cannot lower rates into negative territory, i.e., pay people to borrow money. So “Zeus” Bernanke, “Fed” chieftain, has used up most of his startling rate reductions. What's next? Contingency plans, that's what. A “quantitative easing” is contemplated. For now, the “Fed” buys Treasury bonds and issues money. But that has its limits. Most contemplated of the contingency plans is for the U.S. Treasury “to issue more debt than it needs to fund government operations.” This means the national debt would soar into the stratosphere. Extra cash from the “more than it needs” debt issuance would be left on deposit at the “Federal” Reserve. But does “sunshine” and “transparency” apply to the “Fed” too?

Former “Fed” chieftain Paul Volcker, pari passu, notices a “dollar crisis.” A “devaluation consensus” dominates the Eternal City, at present. Can the “Fed” shut “the door it opened with its guarantee of $29 billion worth of Bear Stearns paper”? (Background: “Caesar Bernanke Crosses Rubicon”, http://www.shout.net/~bigred/CaesarBernanke.html). The “Federal” Reserve is failing to protect the value of the dollar, opines WSJ. The “devaluation consensus” in Washington is a startling admission. It brings to mind a “Tax Rebellion in Argentina,” a tea leaf from the March 31st Wall Street Journal. There, the Argentine government “will do just about anything to reduce inflation except the one thing that would solve the problem: Let the peso strengthen.” (by Mary Anastasia O'Grady, p. A18). That would be the opposite of a “devaluation consensus”, for Argentina to strengthen its currency. Here in the U.S., the inflation is very mysterious: we know not whence it comes. In Argentina, however, it is admitted to be “monetary expansion” which causes the mysterious inflation. This “monetary expansion” is, in other words, a “devaluation consensus.”

Elsewhere, the Crusade which began in 1095 A.D. continues. Lengthy testimony on the subject has been underway on the Capitoline Hill. Jerusalem had been freed in 1099 A.D. It was “mission accomplished.” But then, in 1187 A.D., Saladin the Terrorist had retaken Jerusalem. The liberals complained, “Oh, enough already.” Yet we did not give up. Pope Gregory VIII, subsequent to the Saladin resurgence, stood firm and dared to declare a Third Crusade. Who can forget the imposition of the Saladin Tithe in 1188, meant to fund the daring venture? These were the days of Richard the Lionhearted, when knights were bold! By 1453, though, Constantinople had fallen to the terrorist swarm. Things looked bad. Again, the liberals began to complain, “Oh, enough already.” Did we stop? No way! A new Crusade to the East was proclaimed that very same year. On it continued. The terrorists conquered Egypt in 1517. Later that year, a new Crusade was begun. By 1529, the terrorists threatened Vienna. Next year, another Crusade was proclaimed. On and on it went. Crete fell to the terrorist armies circa 1665. From there, again, Vienna was threatened. And let us remember Napoleon Bonaparte, who recaptured Malta from the terrorists in 1798.

Conspiracy Nation

http://www.shout.net/~bigred/cn.html