G-7 Wakes Up

(Conspiracy Nation, 04/13/08) – The “Group of Seven” (G-7) has “finally, at long last, woken up,” reports Christopher Story in a thought-provoking report. (“G-7 Demands Immediate U.S. Discipline and Compliance,” http://www.fourwinds10.com/siterun_data/government/corporate_u_s/news.php?q=1208014062)

Last week, Conspiracy Nation foresaw this weekend's G-7 meeting in Washington, DC as “all smiles.” By this was meant the conclave would wear a smiling mask but underneath the public could not see the true face. (“G-7 Will Be 'All Smiles'”, http://www.shout.net/~bigred/G7Smiles.html)

Preliminary indications, however, reveal the G-7 smiley mask to have slipped off. Yesterday's Wall Street Journal (WSJ) reported on page A3 how the G-7 let sag the smiley mask and “issued a warning to financial markets Friday that they won't sit by and watch the dollar continue to slide against other big currencies.” (“G-7 Sets Aggressive Tone On The Sagging Dollar,” by Michael M. Phillips).

The helicopter man, Ben Bernanke, seems to have been brought to heel. Calling it a “highly unusual move”, WSJ (op. cit.) quotes a decidedly frowny-face statement issued by G-7. Phillips notes the statement to be a marked departure from previous communiques. (Ibid.)

The markets have been warned: Do not count on further rate cuts. The G-7 intend to put a floor under the falling dollar, suggests Phillips (op. cit.).

However, without running the printing press, how will the U.S. pay down the Iraq War debt? A “Saladin Tithe” has been underway. The debt would be paid down simply by printing dollars. Counted upon was that average Americans would be too infantile to correlate this with inflation. Typically, they would complain about high prices but not realize whence came the inflation. (Background: “Now We Pay The Saladin Tithe,” http://www.shout.net/~bigred/SaladinTithe.html)

The day after Conspiracy Nation reported the Saladin Tithe scheme, corroboration was provided by Representative John Yarmuth of Kentucky. Responding to George W. Bush's weekly radio address yesterday, Yarmuth connected economic woes in the U.S. with the high cost of paying for the Iraq War. (“Bush Says U.S. Preparing Gradual Transition in Iraq (Update1)”, by Roger Runningen. Bloomberg, April 12, 2008)

Coincident to the stern talk from G-7, Pope Benedict XVI travels to the U.S. this week. Heading a Financial Stability Forum (FSF) is a “Signor Mario Draghi”, apparently an Italian. FSF reportedly is tasked by the G-7 and the World Bank to investigate the global financial system. In agreement with Phillips (op. cit.), Christopher Story calls Friday's G-7 statement “probably the most explicit and blunt language that this veteran editor can recall at any time since he has been attending these IMF/World Bank meetings, beginning in 1977.” (“G-7 Demands Immediate U.S. Discipline and Compliance,” op. cit. Minor spelling corrections in above quote)

Meanwhile, the attention of the childlike American public is constantly being diverted from real news by the incessant Obama/Clinton feuding. The Obama/Clinton sniping is a sideshow. The main event is underway in financial markets.

Conspiracy Nation

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