classical economics
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and policy design

Obama and Ruling Elite

Why He is Willing to Lose in 2012
Wayne Jett © November 21, 2011
    Barack Obama does not worry about winning his 2012 campaign for re-election. His campaign will be propelled, as in 2008, by big money from the ruling elite. If he wins, fine. He will continue providing a governmental platform for his sponsors to loot financial markets and taxpayer funds, and to swing the class warfare hammer at the middle class, especially the upper middle class (the people he calls “those of us who are better off”).
    If he loses, Obama will be elevated into the pantheon of global aristocrats who serve the ruling elite well. He has delivered for them as few other U. S. presidents have.
Obama’s Presidential Successes
   Obama has taken for the ruling elite control of everyone else’s health care. This has been a cherished objective on the elitist agenda for more than a century. They see it as key to dealing with the “greatest evil” in the world in their eyes: human population growth.
    Obama openly thwarts domestic energy production and job creation by preventing Gulf drilling by stopping the pipeline to bring Canadian oil to the U. S., likely sending it to China instead, and by delaying drilling for natural gas in shale formations, the cleanest low-cost fuel available.
    The president does this wearing the fig-leaf of environmental purist while one-third of Americans, 100 million estimated by census, are in poverty or “near poor.” He distracts attention from official and unofficial treachery, and blames “lazy” Americans for his failure to bring economic recovery closer during nearly three years in office. Doing nothing at all would have been far better. He has spent all tax revenues plus $3 trillion in funds created for his use by the ruling elite’s Federal Reserve.
Destruction of Nation-States
    Obama has weakened the U. S. as a nation-state to the point of potential collapse, after being given a big head-start by Treasury secretary Henry Paulson Jr. of the previous Bush administration. Obama and his Treasury secretary Timothy Geithner (straight from the ruling elite’s fountainhead of power in the U. S., the Federal Reserve Bank of New York) are busily weakening other nation-states in Europe day-by-day. The U. S. ambassador to Germany is from Goldman Sachs, and the newly selected heads of state in Greece and Italy have similar ties.
    Destruction of nation-states, particularly the U. S., plays importantly in moving towards global control by the ruling elite. They see this goal as imperative before burgeoning middle classes in India, China and elsewhere gain significant political and economic rights, as occurred in America two centuries ago. The dollar is devalued to two cents of its 1970 value, with sharper drops in store. Federal debt is sufficient to pull down constitutional government when interest rates rise, if they play their cards right.
MF Global Not Over
    Fraud was central in the 2008 “financial terrorism” attack on the U. S., and it remains a central force in U. S. financial markets today. MF Global was a primary dealer in Treasury securities and a trader in commodities futures and options for institutions and individuals. MFG’s bankruptcy reveals, so far, claims by its clients that funds in their separate accounts were taken by MFG management without their knowledge or authorization and used for MFG’s own purposes.
    Some knowledgeable participants in the business view the alleged taking of client funds as outright theft, and note with alarm the silence of exchanges and regulators as possibly indicating such conduct is the new reality. One commodities trading firm, Barnhardt Capital Management, Inc., closed its doors, saying these market conditions are too lawless and risky for any responsible trader or investor, and called for true reforms to bring law and order to the business. 
    MF Global’s relatively brief history has another remarkable feature. As of November 1, 2011, primary dealers permitted to bid directly for Treasury securities included only seven U. S. firms: Cantor Fitzgerald, Citigroup, Goldman Sachs, Jefferies, J. P. Morgan, Merrill Lynch and Morgan Stanley. MF Global was terminated from that exclusive list the previous day, October 31. How did MFG gain access to the highly lucrative role of primary dealer at the time Treasury was issuing monumental debt and the Fed was buying everything the primary dealers offered in its “quantitative easing?” By most accounts and common sense, the answer lies in the relationship between MFG’s recently resigned CEO, Jon Corzine (formerly Goldman Sachs CEO, U. S. Senator and Governor of New Jersey), and President Obama.
    One observer asks whether MF Global’s destruction was a “hit” in the nature of a criminal bust-out of the company, done at the behest of the ruling elite. The presumed purpose of the “hit” is stated as being to drive traders of commodities out of the market. Doing this, one may infer, would defer inflation of food and other commodities arising from the Fed’s profligate abuse of its dollar management duties until a more opportune time than an election year.
    The MF Global story is not ended. The points made about it here are to alert you to probable additional impacts in the markets still to be felt. Destruction of Lehman Bros. by attacks on its share price scared banks and other businesses so badly they stopped lending and investing, producing a credit freeze in October, 2008. Similar or worse reactions are near if investors become alarmed that their accounts may be emptied by their brokerage or bank.
    Lawlessness in society is a poison which creates cities of streets and buildings with no signs giving their names, so their occupants may achieve some degree of security. Until now, such conditions have been found in what Americans call third world countries or war zones. The U. S. has no natural invulnerability to this poison. Justice under law must prevail or our society will not succeed. ~