Chapter 72 Two, Paul.Volcker: The controlled disintegration of the world economy

Volcker was elected (Fed Chairman) because he was the pick of Wall Street.This is their asking price.What is known is that he is very smart and conservative, but what is not known is that he is about to set off a sea change.Historian Charles.gist In 1973, David, chairman of the Chase Manhattan Bank of the United States.In order to strengthen the relationship between the financial circles of North America, Western Europe and Japan, Rockefeller formed a group called the Trilateral Commission of the United States, Europe and Japan with the initiative and assistance of Brzezinski.The main members of the committee are some big bankers, big entrepreneurs and famous politicians from North America, Western Europe and Japan, and set up three headquarters in New York, Paris and Tokyo respectively, with one person from each of these three regions as the chairman .The chairman of the New York headquarters is of course David.Rockefeller, as David.Rockefeller's confidant, Brzezinski, became the executive director of the headquarters to preside over the daily work.Brzezinski has a friend who is a professor at Columbia University, named Dean.Rusk, a native of Georgia, served as Secretary of State when Kennedy and Johnson were in charge of the White House.He suggested to Brzezinski that Georgia Governor Carter be invited to the Trilateral Commission, and repeatedly praised Carter's entrepreneurial courage and political vision.

With Rusk's enthusiasm, Brzezinski met with Carter twice.Brzezinski fell in love with Carter at a glance. He believed that this person would become a great talent in the future, so he naturally wanted to recruit him. It may be difficult to pass the vote.So, Brzezinski faced David.Mr. Rockefeller made a recommendation and praised Carter greatly.The chairman of the Trilateral Executive Committee adopted his opinion and nominated himself.In this way, little Georgia Governor Jimmy.Carter's name was added to the list of U.S. members of the Trilateral Commission.This is a crucial step for him to step on the steps of the White House five years later.

After Carter entered the White House in 1977, Brzezinski, his party introducer, became President Carter's national security assistant. Kissinger is similar. In 1978, the position of chairman of the Federal Reserve was vacant, which was an important role that international bankers valued very much. David.Rockefeller recommended to Carter his famous general Paul.Volcker took on the job, a request President Carter could not refuse. The New York Times reported that Volcker's appointment had been confirmed by European banks in Bonn, Frankfurt and Switzerland, and the bearish New York stock market rose by nine.At seven or three o'clock, the dollar suddenly strengthened in the international market.

Since 1933 Eugene.Since Mayer resigned from the Federal Reserve, members of the international banking family have all withdrawn from the front line of the financial market to the background. They mainly control the operation of the Federal Reserve by strictly selecting the candidate for the president of the Federal Reserve Bank of New York.Volker fits well with their selection criteria.He studied at Princeton and Harvard in his early years, and then went to the London School of Economics for further studies. He served as an economist at the Federal Reserve Bank of New York in the 1950s, and then worked as an economist at Chase Manhattan. He worked at the Ministry of Finance in the 1960s. One of the main operators behind the abolition of the gold standard.Since 1974, he has served as the president of the Federal Reserve Bank of New York, and is actually responsible for the overall operation of the Federal Reserve.

On November 9, 1978, a high-spirited Volcker revealed in a speech delivered at Warwick University in the United Kingdom that a certain degree of controlled disintegration in the world economy was a reasonable and reasonable strategy in the 1980s. Target. The question is, whose body should be solved?How to disintegrate? The first to bear the brunt is naturally the heavily indebted Third World countries, followed by the Soviet Union and Eastern Europe. At the beginning of his tenure, Volcker raised the bright banner of fighting inflation worldwide, and together with the close ally Britain, made dollar borrowing extremely expensive.The average dollar lending interest rate from 1979 to 11.2% rose to 20% in 1981 in one go, and the basic interest rate was even higher at 21.5%, the national debt soared to 17.three%.

British Prime Minister Mrs Thatcher was elected in May 1979. She vowed to drive inflation out of the economy. She raised the benchmark interest rate from 12% to 17%, a sudden increase of 42% in the cost of borrowing in all industries in such a short period of time is unprecedented in the peacetime industrialized countries.She also earned the title of Iron Lady. Under the banner of anti-inflation, the economy fell into a deep recession, and people and businesses suffered a painful price, while American and British bankers made big profits. Slogans such as cutting government spending, cutting taxes, liberalizing industry controls, and breaking down the power of trade unions resounded in the sky. Developing countries under heavy debt burdens are filled with sorrow and death.At this time, the debt of developing countries had skyrocketed fivefold from the US$130 billion at the Bilderberg meeting in May 1973 to an astonishing US$600 billion in 1982. $12 billion.When the United States and the United Kingdom suddenly raised interest rates to around 20% under the slogan of anti-inflation, the huge debts of developing countries were squeezed by such amazing usury that they were destined to become international bankers. of fish.Countries in Asia, Africa and Latin America that have no awareness of preventing financial wars will pay a heavy price for their negligence.

U.S. Secretary of State Schultz pointed out at the United Nations meeting on September 30, 1982 that the IMF should strictly supervise the debt repayment of developing countries. He urged developing countries to make their export products more attractive to the West. Only free trade Only by saving them, and increasing efforts to sell their raw materials can speed up the process of debt repayment. Mexican President Portillo pointed out that the strategy of British and American international bankers is to use the double-edged pair of scissors, high interest rates and accompanying low raw material prices, to stifle the construction achievements of some developing countries. Eliminate the possibility of progress for the rest of the countries.He further threatened to lead developing countries to halt debt payments.He pointed out:

Mexico and other third world countries are not able to repay their debts on time on terms that are vastly different from reality.We developing countries do not want to be vassals (of Western countries).We cannot paralyze our economy, or make our people miserable to pay off these debts, which have tripled in cost without our participation, for which we are not responsible.Our efforts to eradicate hunger, disease, ignorance and dependence have not created an international crisis. Unfortunately, Portillo was replaced by a candidate favored by international bankers only two months after his speech at the United Nations. The IMF intervened in Mexico’s debt repayment as a policeman to maintain loan order. Engel described this period of history in this way:

The largest organized robbery operation in modern history began, far surpassing similar activities in the twenties.Contrary to what is carefully disguised in the Western European or American media, debtor countries paid their debts several times, and they did so with blood and a pound of fresh meat to the Sherlocks of modern New York and London.It is not true that developing countries stopped paying their debts after August 1982.With guns on their heads, under the intimidation of the IMF, they signed what the bankers called a debt settlement agreement, and all of them participated in the famous New York Citibank or Chase Bank.

IMF loans can only be obtained after the debtor countries have signed a series of special terms, which include: cutting government spending, raising taxes, and devaluing their currencies.The debt is then rescheduled, and the developing country has to pay another service fee to the international banker, which is credited to the principal of the debt. Mexico was forced to cut government subsidies for medicine, food, fuel, and other necessities, while the peso was devalued to appalling levels.At the beginning of 1982, under President Portillo's series of economic reform measures, the peso was 12 to 1 against the U.S. dollar. By 1989, the peso had depreciated to 2,300 to 1 against the U.S. dollar. , the Mexican economy has been de facto controlled dismantling by international bankers.

According to World Bank statistics, from 1980 to 1986, more than 100 debtor countries in the world paid as much as 326 billion U.S. dollars in interest to international bankers. A total of US$ 658 billion was paid by developing countries on a debt of US$ 430 billion (in 1980).Despite this, by 1987, 109 debtor countries still owed 130 billion US dollars to international bankers.With interest rates on such an astonishing basis, I am afraid that developing countries will never be able to pay off their debts.As a result, international bankers and the IMF began to implement bankruptcy liquidation for debtor countries.Countries that accepted bankers' debt solutions were forced to sell off a large number of core assets such as water, electricity, gas, railroads, telephones, oil, banks, etc. at jump prices. People have finally seen how destructive the controlled disintegration of the world economy planned by the international bankers is!