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Why Europe’s leaders agreed to pump cash into banks

Posted By admin On October 15, 2008 @ 4:02 am In Commentary | Comments Disabled

Jerry Mazza
Online Journal [1]
Wednesday, Oct 15, 2008

Let’s cut first to Christopher Story, editor and publisher of the International Currency Review, questioning German Finance Minister Steinbruck at the G-7 Press Conference, last Saturday in the press room at the International Monetary Fund; this as reported in the Review’s World Report, German Finance Minister Ambushed Over Settlements.

As Story’s story goes, even though the conference was taking place in German, the feisty editor refused to hand back the microphone until what he characterized as his “ambush” was a done deal and Herr Steinbruck “spilled the beans.” In paraphrasing that ambush, Story more or less asked, “Herr Steinbruck, you have representatives of the world’s press in front of you. Would you talk about the real issue? They need to know about it. I refer to large sums of money that were transferred to US banks last year and subsequently, to pay the Settlements, which you of course know all about and which resolve the crisis.

“Did you discuss this central issue at the G-7 that has just concluded?”

Steinbruck seemed visibly upset with the editor when asked and answered (paraphrased throughout), “I have no information about such Settlements or any such matters. We did not discuss this matter at that meeting, no.”

Story pressed on, “Did you discuss this at earlier G-7 meetings?”

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Steinbruck answered more elaborately here, as paraphrased by Story, “We discussed many issues at these meetings and the question of certain transfers and related issues (‘obfuscation and diversion here’) has been discussed at earlier meets of the Group of Seven, yes.”

Story reconnoitered, “Mr. Steinbruck, these funds have been illegally blocked for many months. We are talking about massive criminal corruption. Would you care to inform the world’s press about this, please?”

This must certainly have rattled Steinbruck’s cage because he offered, “There are certain instances of which I am aware in Germany and these cases are in the hands of prosecutors and the relevant authorities. These are matters for the German authorities. I am neither able nor competent to discuss or allude to cases of corruption which are a matter for other governments and jurisdictions. The issues you refer to are a matter for the government of the United States and you should address your questions to the United States government.”

Story answered, “Mr. Steinbruck. You have just acknowledged that the Settlements money has been blocked illegally by criminal action. Thank you very much.” In Story’s words, “the cat had been let out of the bag” during this exchange, which occurred approximately at 6:40 pm in Washington, DC, last Friday. Following it, Steinbruck reverted to German answering like-speaking press-folk who seemed to have missed the gravitas of the exchange in English.

Also, let me cut to the chase that the G-7 subsequently published a short communiqué containing information that the Refunding Program was originally called as Christopher Story tells us “The Wanta Plan,” as in former Ambassador Leo Wanta, a former US Treasury official appointed trustee of an astronomical sum of money by President Ronald Reagan. Wanta holds the “financial golden key” to $27.5 trillion dollars, money he claims is now held in public trust for the American people, and not its illuminati thieves.

As Greg Szymanski points out in The Story of Leo Wanta ‘The $27.5 Trillion Dollar Man’, “According to a 2003 federal court ruling by a courageous judge from Virginia, Wanta has been authorized as legal guardian of the vast sum of money made from profits at the end of the Cold War. In one of the most important stories of our time, Wanta holds the ‘financial key’ to the vast criminal Illuminati banking network and he says with the help of the American people their system can be destroyed.”

This is story worthy of John Le Carre, Ian Fleming, and Robert Ludlum rolled into one. Wanta, the author of this double-espionage Russian/American scheme to bankrupt the former Soviet Union, worked as CIA-FBI-Secret Service-Special Opsman-Presidents’ Main Man to pull the massive scheme off, with a try at turning Russian oil our way as well. Monies from the Refunding Program, i.e., Wanta Plan were supposed to have been initiated in June 2006 but were blocked instead.

“The Refunding Program,” as Story sees it, “involves special Capital Markets Instrument operations to be conducted transparently ON-THE-BOOKS with a group of financial institutions, centralised but in the private sector, with all proceeds fully taxed, yielding massive ongoing accruals to the US Treasury.” Aha, he said . . . while Story iterated my own thought, “The United States is bankrupt and is essentially in the hands of its creditors. The Refunding Program, which should have been kickstarted in June 2006, will address and rectify this state of affairs, providing both immediate and long-term relief to the American people and the whole world.”

But the program was, according to Story, “hijacked in collusion with President George W. Bush Jr., and his father, George H. W. Bush Sr., in June 2006, and by the Secretary of the United States Treasury, Henry M. Paulson Jr., who procured the placement with Goldman Sachs of $4.5 trillion of funds remitted during May 2006 from China that were constantly referenced in our ‘Wantagate’ reports (terminated on 18th March 2008). Since Paulson had been CEO of Goldman Sachs until his sudden appointment as US Treasury Secretary in place of John Snow, this corrupt act has represented the most extreme instance of an official, criminal conflict of interest in financial history, as we pointed out at the time.”

It seems that Paulson and friends got their hands in the pie and started to “leverage, hypothecate, multiply” and finally steal these funds, which were intended by the remitter for the Refunding Program. This leaves our highest officeholders directly responsible for the present crisis. In fact, Story and World Reports predicted these results in their 2 September 2006 Report and in subsequent analyses published in July and August 2007, also predicting the oncoming worldwide economic ‘train wreck.’

Story attributes his success to following “the Correct Trail,” as opposed to the US and British mainstream media buying hook, line and sinker the CIA’s COINTELPRO ‘slide’ that this financial disaster was a result of subprime mortgages, which Story feels “have always existed.” The press in the UK was “neutralised” by ‘Black’ methods and rogue UK intelligence operatives spreading lies about the editor and his service, which brings us to one of Story’s favorite stories . . .

The Greenspan-Bush ‘Never Pay Syndrome’

Paulson traveled to China with Greenspan to secure the release of the $4.5 trillion from Chinese intelligence. It had been held by the People’s Bank of China since the arrest and imprisonment of Leo Wanta in Lausanne in July 1992. Story describes Greenspan as “the technician,” inventor of the ‘Never Pay Syndrome” on orders from George H.W. Bush. It seems it takes just one phone call to “block repeated attempts, involving a large number of trustees and institutions, to effect the payouts.” The trustees, were asked to attend meetings in repeated anticipation of payouts, have “had their lives turned upside down by this unbelievable corruption, for years.” Participating banks have been left at the altar as well, waiting for the monied groom, despite the fact that many of the institutions were part of the problem.

Somehow Greenspan ended up as the lead story of “Emerging Markets,” a paper published daily for these meetings with his latest pronouncements on the global financial crisis for which he is the leading technical scripter. Despite the crisis, he sees “an eventual thawing of the world’s frozen credit markets.” Of course, he praises “governments buying toxic assets, recapitalizing banks.” Story deems Greenspan a “financial criminal,” who is due with another article of frosted forecasts for the masses.

The ‘Never-Pay Syndrome’ took its name from the 1989-92 junk bond debacle. Then as now, payout attempts were sabotaged while the same criminals helped themselves to OPM (other people’s money) or for other specific purposes. Anyone who knew or said anything about this fraud was rubbed out in a Stalinesque purge under the Clinton presidency, Story alleges.

He considers William J. Clinton a CIA-operative like Hillary who toil for George H.W. Bush. Four hundred twenty-plus Clinton associates were gone missing, Story tells us, because they knew ‘too much.’

Returning to more recent days, post the vanishing $4.5 trillion, the Queen of England and Prince Al-Waleed of Saudi Arabia were tapped to replace the evaporated funds with a loan of $6.2 trillion. The queen had the temerity to say in a June 2007 G-7 meeting that the refunding should occur “for the whole of humanity.” Ergo, Story reports, “these funds have been held in a suspense account with Citibank in New York City, pending resolution on this matter,” which probably makes stealing the money more difficult after Story’s story appeared on his website. The point of view of the thieves is, as the Editor subheads it:

“The money you make by illegally using my money is my money”

How euphonious. Yet after 27 months, the Refunding Program has begun. Perhaps the Dow soared Monday at the prospect of euros and dollars flooding into banks as funds are released is near or here. Perhaps the general uproar of the drowning market and its lost swimmers are stirring concern. Perhaps the weight of all that toxic paper, one of the largest portfolios of it held by Deutsche Bank, is about to topple its black-masked, abandoned building at Ground Zero, still hanging in limbo. No wonder Herr Steinbruck zipped up his English-speaking lips and went back to speaking German at the IMF.

Meanwhile Chancellor Angela Merkel, as Story tells us, former Secretary of Agitprop for the Young Communists at Marks-Lenin University in East Berlin in her student days, is on the rack. It seems George H.W. Bush has been doling out bribes to her; the quid pro quo, as she guards funds owned by Bush Sr. & Company in the largest German financial institution.

Hence the G-7 communique by the finance ministers and central bank governors . . .

“Washington: The G-7 agrees today that the current situation calls for urgent and exceptional action. We commit to continue working together to stabilize financial markets and restore the flow of credit, to support economic growth. We agree to:

”1. Take decisive action and use all available tools to support systemically important financial institutions and prevent their failure.

”2. Take all necessary steps to unfreeze credit and money markets and ensure that banks and other financial institutions have broad access to liquidity and funding.

”3. Ensure that our banks and other major financial intermediaries, as needed, can raise capital from public as well as private sources, in sufficient amounts to re-establish confidence and permit them to continue lending to households and businesses.

”4. Ensure that our respective national deposit insurance and guarantee programs are robust and consistent so that our retail depositors will continue to have confidence in the safety of their deposits.

”5. Take action, where appropriate, to restart the secondary markets for mortgages and other securitized assets. Accurate valuation and transparent disclosure of assets and consistent implementation of high quality accounting standards are necessary.

”The actions should be taken in ways that protect taxpayers and avoid potentially damaging effects on other countries. We will use macroeconomic policy tools as necessary and appropriate. We strongly support the IMF’s critical role in assisting countries affected by this turmoil.

”We will accelerate full implementation of the Financial Stability Forum recommendations and we are committed to the pressing need for reform of the financial system. We will strengthen further our cooperation and work with others to accomplish this plan.”

And this ends up in the October 13, New York Times as the lead story, European Leaders Agree to Inject Cash Into Banks. Check them for consistency of message with the release. It seems that Sunday’s G-7 meeting in Paris found the boys all a bit testy at the “continued criminal intransigence” of White House and US Treasury leadership. The queen, bless her soul, has the complete support of all 159 countries that desire The Funding Program to take off with no further delay or lies from the US “authorities” or the Bush White House and Crime Familia. Is it any wonder the Dow zoomed up a little less than a thousand points this Monday, Columbus Day? Perhaps, as well, in honor of the old plunderer himself.


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URLs in this post:

[1] Online Journal: http://onlinejournal.com/artman/publish/article_3875.shtml

[2] Banking crisis: Central banks pump billions in to ease the strain: http://www.prisonplanet.com/banking-crisis-central-banks-pump-billions-in-to-ease-the-strain.html

[3] Banks Keep Mum on What they Did with Bailout Cash: http://www.prisonplanet.com/banks-keep-mum-on-what-they-did-with-bailout-cash.html

[4] U.S. to pump $250 billion into banks: http://www.prisonplanet.com/us-to-pump-250-billion-into-banks.html

[5] Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash: http://www.prisonplanet.com/failed-banks-may-get-pension-fund-backing-as-fdic-seeks-cash.html

[6] Thanks To QE Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash For First Time Ever: http://www.prisonplanet.com/thanks-to-qe-bernanke-has-injected-foreign-banks-with-over-1-trillion-in-cash-for-first-time-ever.html

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