mercredi 16 février 2011

The Antichrist Reigns On Earth

In defense of God
Bill Muehleberg’s article reproduced below explains why humanity today is in the grip of confusion and despair. A brief study of modern molecular biology leaves us in no doubt that the DNA molecule is nothing less than an incredibly complex biological computer program. Knowing that a program cannot exist without a programmer, is it not therefore normal that we humans, equipped with brains that are capable of rational thought, seek to know more about the entity that created us? Is it not logic to seek the reason for our existence here on earth and what our creator expects of us? The answer to these questions is to be found in the Christian Gospels. For the whole Bible is dedicated to informing us in terms that are hidden behind a cloak of symbols and allegory exactly what the PATH or WAY to God is. We’ve been given the manual, it is now for us to learn to use it.

The Unbearable Heaviness of Being (In a World Without God)
By Bill Muehlenberg of CultureWatch

Modern man is in a bad way. Everywhere we see people in the modern Western world in crisis and chaos. The signs of disintegration and degeneration are of course apparent for all to see. And the ways people seek to cope with the modern plague of alienation, meaninglessness and despair take plenty of forms: suicide, drug abuse, reckless relationships, sexual promiscuity and random acts of violence.
From whence does this mess arise? Why are we in such dire straits? The answer is as simple as it is profound. We are in a monumental mess because we are seeking to carry a load we were never meant to carry. We are seeking to do the impossible. We are seeking to put a square peg in a round hole.
We are, in a word, seeking to be God. Modern man has declared there is no God. There is no center to the universe. There is no divine glue that holds all things together. We have wrenched God out of the universe, and there is now a gaping hole where God once was.
But just as nature always abhors a vacuum, so the only thing left to fill this massive hole of God’s banishment is mankind – individuals who have been made in God’s image, but who no longer believe that creator exists anymore.
So now we are seeking to climb a mountain impossible to climb. In kicking God out of the universe, we are seeking to take his place. We are vainly pretending that the center of all things is ourselves, and that we can hold all things together. We are now the source of all meaning, of all purpose, of what is true and false, right and wrong.
We, the creature, have usurped the rightful place of the creator, and now think we can somehow take his place. But that means we are now carrying a burden impossible to bear. We have supplanted God and enthroned self. But naked self, without the God of heaven and earth, is crushed under the load of its own choosing.
No wonder we have an obsession with self today. With no more God in the universe, all we are left with is self. We have sought to replace the sovereign God of the universe with the Sovereign Self. With such a huge burden to shoulder, we are not holding up very well. Thus we are awash with techniques and programs to help the self cope.
We are up to our ears in self-fulfillment, self-actualization, self-esteem, self-identification. Therapists, psychiatrists and counselors are working overtime to deal with the problems of self. But to the extent that these are secular counselors, their help will be of limited value.
Man is more than just a slab of meat. He is also a spiritual creature with spiritual needs. When we deny this aspect of human reality, we end up with alienation, despair, and frustration. In biblical terms, our real problem is sin.
Sin robs us of our rightful place because it robs God of his rightful place. And when we do that, we destroy ourselves. As David Wells puts it in his new book, “The self that has been made to bear the weight of being the center of all reality, the source of all our meaning, mystery, and morality, finds that it has become fragile and empty. When God dies to us, we die in ourselves”.
We are simply not built to carry the world on our shoulders. Atheists can chirp all they like about the non-existence of God, but all they are doing is chaining mankind with a death-wish. Instead of liberating mankind, atheism enslaves him.
In his superb examination of atheistic humanism, and the huge costs of it in recent human history (as in the reigns of Stalin and Hitler), Vincent Miceli closes with these words:
Whoever strikes against God strikes down himself. The atheist denying God degrades himself. The atheist exalting himself above God sinks below the level of animate and inanimate beings. Liberation from God is enslavement in creatures. Absolute humanism is the sure road to absolute despotism. Denial of God as truth begets the imprisonment of man in the self-imposed darkness of his own myths.” (The Gods of Atheism, 1971)
The twentieth century certainly bore witness to the despotism and inhumanity of the atheist utopias. How could it be otherwise, when we seek to take the place of our Creator? When we attempt to dethrone God, and put our own fallen and finite values and wisdom into place, we are doomed to failure.
Yet we have not learned the lessons of the previous century. We continue to make the same mistakes today. Only now we celebrate these moves and glory in our past mistakes. The new militant atheists positively applaud and fastidiously promote the eradication of all religion – at least in its public expressions.
The new atheist fundamentalists like Dawkins and Hitchens pronounce a curse on all religion, but will probably not live long enough to see the full results of such foolish thinking. They should have learned from what was attempted in the name of Sovereign Man last century. Instead they make excuses for it, and claim that communism was not atheistic, or that Hitler was somehow really a Christian.
The inhumanity of humanism was warned about by many earlier prophets. C.S. Lewis spoke much of the “abolition of man”. The secular experiment is a grand experiment to see what life is like without God. And the results are not looking very good.
As the late philosopher, and atheist turned Christian, C.E.M. Joad put it, “For the first time in history there is coming to maturity a generation of men and women who have no religion, and who feel no need for one.” Or as the late ethicist Paul Ramsey said, “Ours is the first attempt in recorded history to build a culture upon the premise that God is dead.”
Announcing, and believing, that God is dead has consequences. And it is we who suffer the most for it. We cannot bear the whole universe on our shoulders. We were not meant to. We must let God be God. Only then can men be men. Only then can we find the way forward to be possible, and the burdens not insurmountable.
Miceli again lays out what is at stake here. Although negative in nature, a-theism has an affirmative component: “For atheism receives its true, full meaning from the reality it rejects – God. It represents a choice the creature makes of himself and his universe in preference to his Creator. For every temptation to deny God has as the necessary correlative of the denial the affirmation of the creature over God”.
The affirmation of the creature over God”. If that sounds like an absurd proposition, it is. But the Psalmist rightly expressed this absurdity three millennia ago: “The fool has said in his heart, ‘There is no God’” (Psalm 53:1). For most of human history mankind has let God be God. Today we think we know better. But the foolish and tragic results only continue to multiply.

mardi 15 février 2011

Nicolas Sarkozy has lost all credibility

Since the start of his presidency, and even before it when he was only a minister, the French head of state has repeatedly demonstrated poor judgment when dealing with important issues. Exacerbated by an overinflated ego, insufferable arrogance and contempt, and a total lack of dignity, this problem has undermined Sarkozy’s stature at home and abroad, and resulted in a major public lack of confidence, as demonstrated by the opinion polls. That is not to say his analysis of political problems is necessarily always wrong; it is his inability to propose solutions with tact and diplomacy which has made him so disliked.

Putting aside the ill advised comment about using a high powered water jet to clean up the rabble in the housing estates inhabited by a mainly Arab immigrant population when minister of the interior, examples of Sarkozy’s poor judgment as president started with the choice of disgraced former prime minister Alain Juppé as number two in his new government. Humiliated in an election Juppé had to bow out and remain on the sidelines for three years, because of a ruling that ministers had to prove they had the public’s confidence. Next was the choice of Rachida Dati, who has dual French and Moroccan nationality, as justice minister. The problem wasn’t the woman’s Arab origin, it was the fact that her two brothers had been condemned for drug offenses which made her unsuitable for the job.

The financial crisis had not yet raised its ugly head when Sarkozy, in a hurry to introduce as many reforms as possible in the shortest possible time, decided to give enormous tax advantages to France’s richest people. So unproductive did this turn out to be that the ruling party, in light of the global crisis, now wants to abolish it. As if all this wasn’t a bad enough start to his presidency, fear of criticism in the press and on television led the little dictator to get rid of respected journalists who asked difficult questions, and replace them with harmless kowtowing ones, thanks to personal friends who just happened to be media barons.

The dismantling of France’s justice system, starting with a reform introduced by Rachida Dati intended to save money and make it more accountable to the government, has led to a major row with judges and attorneys. Fond of blaming people for errors and misdoing without due proof, Sarkozy has even managed to upset the law enforcement organizations, namely the gendamerie and the CRS riot police, with unreasonable interference in their affairs. Can a president who has lost the confidence of his country’s justice system be considered credible? Sarkozy, whose recent ill-founded criticism caused a week-long shutdown of the nation’s civil and criminal courts, has only himself to blame for his unpopularity.

Amid a series of scandals involving political corruption, (Karachi, Angola-gate, Woerth-Bettencourt, Clearstream, etc.) the embattled president, desperate to find a scapegoat for his problems, decided to turn public attention away from his failings by introducing a debate about national identity. Hoping to attract the votes of the right wing National Front party, he started criticizing Islam and expelling gipsies, thus inviting a comparison with Marshall Pétain’s Vichy government during the second world war. Except that Arabs have now replaced the Jews as the reason for the nation’s woes, which the Zionist community unsurprisingly does not condemn.

The latest in a long line of examples of floored judgment is the case of a Frenchwoman, condemned for kidnapping and sentenced to sixty years imprisonment in Mexico. Based on suspicions that Florence Cassez had not been judged correctly and might be innocent, Sarkozy wants to dedicate France’s Mexican Year festival to her. Naturally, Mexico’s president Felipe Calderon does not appreciate this unstatesmanlike behavior, and has threatened not to participate in the event. Although things are now calming down, it shows to what degree bad judgment can have disastrous consequences at international level. How unfortunate therefore that the man who is to preside over G8 and G20 this year lost all credibility on account of it.

jeudi 10 février 2011

The crisis in Egypt - A Cairo citizen reports on divisions in the army

For the people
After President Mubarak’s night time speech on the 1st February 2011, more violent fighting took place in Tahrir Square, where several thousand protesters remained. Mubarak's government had sent thousands of thugs armed with stones and Molotov cocktails. To prepare their forthcoming attacks and to intimidate the demonstrators, the thugs spread about threatening rumors. The demonstrators, having understood what was happening, were determined to arrest them and turn them over to the military. At about 3 o’clock in the afternoon allegedly pro-Mubarak demonstrators made a violent attempt to penetrate inside the square.
The army was snowed under. The crowd of protesters amassed at the entrance to the square near the Cairo Museum successfully repelled a thousand henchmen. An hour later the thugs changed tactics. Between 100 and 200 of them invested Talaat Harb Street, and started a confrontation immediately by throwing stones and Molotov cocktails. Protesters protected themselves as best they could by erecting a curtain with metal and fabrics. The protesters, scantily protected by the curtain, then then started throwing the stones back again. The confrontation lasted 30 minutes after which they are on the verge of being overwhelmed by the government’s minions.
As Mubarak’s henchmen were about to enter Tahrir Square, the protesters begged the army to intervene. A soldier descended from the tank on which he was posted, and tried to stop the advancing thugs himself. Unable to do this he then went back on his tank, took his handgun and pointed it at his temple. He wanted to commit suicide. Some demonstrators threw themselves on him and prevent this. Screaming, and yelling a protester kissed the soldier’s feet. In Egypt, this means: “I beg you, don’t do that.” All this took place in the space of several seemingly endless seconds.
The henchmen were more than 30 meters from Tahrir Square. A butchery was imminent. The brave soldier, without whom we would have perished in Tahrir Square that day, grabbed his assault rifle and shot 6 or 7 times in the air. The deafening sound of gunfire resounded around the whole square. Frightened, the thugs turned tail and fled. The danger was temporarily over. The protesters who had witnessed the scene, and all those watching from windows cheered the savior. Those closest embraced him. The man was in tears. Everyone screamed: “The army is with the people.”

The henchmen arrested by the protesters were handed over to the military amid insults from the crowd. Each of Moubarak’s men was protected by 3 or 4 demonstrators to ensure that the former weren’t lynched. There were dozens of wounded demonstrators. The thugs numbered no more than a hundred people, but without the army’s intervention the infamous attack orchestrated by the government would have led to the demonstrators being massacred when better organized and more violent attacks took place. The protesters prepared themselves in case of further violence by piling up stones in readiness on Talaat Harb Street. At 6:15 p.m. President Mubarak’s thugs attempted to set fire to the Cairo Museum.

Clashes between plain clothes police and "pro-Mubarak protesters mugs and protestors were very violent. The night of February 2nd to 3rd will remain engraved in our memories. The struggle to defend Tahrir Square lasted 16 hours and ended around 4 o'clock in the morning. There were more than 2,000 injured and 10 dead.

Against the people:

Omar Suleiman, the new Vice-President said on February 9th, “We cannot tolerate this situation much longer. It is imperative that this crisis ends as soon as possible. The alternative to dialogue will be an overthrow. We want to avoid an overthrow all costs, for the consequences of this no one can foresee. However these consequences will surely be unreasonable. We do not want to reach this stage in Egypt’s best interest, nor to undermine the concessions obtained by the people.”

This was undoubtedly a threat. The use of the word overthrow (in Arabic inqilab) is ambiguous. Usually inqilab is used to describe a coup. However, in the sentence’s context, the probability that Suleiman meant a military coup is very small. It seems more likely he meant an overthrow of the people’s resistance movement. The statement was predictable. All the signs were there. In the provinces, away from the television cameras, police violence is in full swing. In Alexandria, Suez, Tanta, Mahalla, Aswan, and Asyut … policemen, under the passive eye of the army are using automatic weapons. There are hundreds wounded across the nation. Dozens are dead. In Cairo, despite the public commitment by Omar Suleiman and Ahmed Shafik, journalists and bloggers are being arrested by the dozen. The day before yesterday, yesterday, and now today.
Yesterday, the protesters who were once gathered in Tahrir Square have now dispersed to the People's Assembly, the Council of State, and the Ministry of Interior … Other strategic points are now the target of protesters, particularly the Radio-Television building and of course the presidential palace. But the regime will not give in. Suleiman's statement and events in the provinces prove it. Unfortunately, the statement by Omar Suleiman (a lieutenant general) suggests that the army leadership has chosen to protect the regime. Yes, the army has arrested, insulted, electrocuted, and tortured hundreds if not thousands of demonstrators. It is also responsible for the arrest and torture of activists, lawyers and defenders of human rights, both Egyptian and foreign. We heard the story of one of those arrested. He did not wish to remain anonymous, but we decided not to reveal his name. This narrative describes the kidnapping of a dozen activists and two employees of Amnesty International.
On February the 3rd, the military police, secret service agents, plain clothed henchmen and members of State Security (Amn al-Dawla) orchestrated a spectacular raid in central Hisham Mubarak (no relation to President), on the Center for the Defense of Human Rights. At their head, and overseeing the smooth running of operations was an army general. They began first by surrounding the building to block all exits. Then the uniformed policemen give orders to those inside to lie face down on the ground, while other men ransacked the offices, and confiscated documents and computers.
The people on the ground, both Egyptians and foreigners, then faced a torrent of insults and abuse. The Egyptians were told "So motherfuckers! Is that what you do for your country, you sons of a bitch? Foreigners were told, "Fucking spies! Who do you work for?” Then they were all robbed of everything they had on them, phones, wallets, and passports.
Everything took place under the general’s calm gaze. The protestors were pulled to their feet without violence, and handcuffed by the military, who then blindfold them and led them to the exit where a dense crowd of waiting henchmen and curious bystanders was waiting. Once outside, the general told the protestors, “We could quite easily hand you over to this crowd to be lynched." In spite of his blindfold, our witness recognized the red vehicles in which they were bundled as those used by firemen.
The procession then headed to an unknown destination. Later, we found out that it was the sinister Camp 75, a military camp in the district of Mansheyet el Bakry on the outskirts of Cairo. Our witness was lucky. There was no torture nor physical violence, just the infliction of intensive psychological terror. The treatment lasted 36 hours before the group of foreigners was released. In neighboring cells, the screams of other prisoners was unbearable. Throughout the duration of their detention, new inmates arrived by dozens. Prisoners were given meager rations of water, bread and honey.
36 hours later the protestors was freed and given their personal possessions. A minibus took them to Cairo airport and released them near the Sonesta hotel. But the exhausted, shocked group was refused entry by the hotel management. The protestors then hailed a taxi, but before the latter had driven 500 yards, they got arrested again at a military intelligence checkpoint. The group was questioned again at 2 o'clock in the morning for 30 minutes, before being finally released. Contacted by telephone, colleagues and friends arranged for the group to be accommodated at the Hotel Fairmont, not far from Cairo International Airport.


These two stories reflect the deep division in the army. The controlling elite have interests and aspirations that the middle ranking military and the ordinary soldiers don’t have. In a situation in which the government is getting bogged down, the military elite, are getting tougher. On February 9, Omar Suleiman didn’t beat around the bush, he threatened that the army will be compelled to use force to end the ‘chaos’. For 3 days now we have been fearing a deteriorating relationship between the army and the people and a bloody confrontation. We are therefore praying that a decisive putsch, led by middle-ranking military with the support of the common soldiers is being planned.

mardi 8 février 2011

Le scandale de la traite des être humains en Roumanie

Selon David Batstone, un professeur de gestion à l'Université de San Francisco et le co-fondateur et président de 'Not For Sale', qui lutte contre la traite des personnes et l'esclavage, la Roumanie est devenue une étape importante dans la vente de personnes dans l'Union européenne. Des victimes, parfois âgée de 12 ans sont envoyée en Roumanie à partir de destinations aussi loin que le Honduras, l'Afghanistan, le Congo et la Chine. Une fois qu'ils atteignent la Roumanie, beaucoup de ces victimes sont passées en Europe occidentale. Bien que la loi roumaine interdise officiellement toutes les formes de traite des êtres humains, la position géographique de ce pays fait de lui un carrefour stratégique entre l'Orient et l'Occident pour le commerce des êtres humains. L’admission dans l'Union européenne de ce pays en 2007, qui a réduit considérablement la réglementation de ces frontières, n’a fait qu’amplifier son intérêt pour les trafiquants internationaux.
Le rapport de 2010 du Département d’état américain sur le trafic des êtres humains a révélé que les réseaux du crime organisé ciblent également les citoyens roumains à l'exportation vers d'autres pays européens. Les trafiquants utilisent couramment des fausses identifications et des pots de vin aux postes frontières pour amener les victimes dans ces pays. Ils obligent ensuite les victimes à travailler dans la production agricole, les usines, et à faire de la prostitution, de la pornographie, et de la mendicité. L'agence ‘Not For Sale’, a identifié la Roumanie en tant que lieu privilégié pour l'esclavage international moderne. Leur équipe opérant sur le terrain dans ce pays d'Europe orientale est intervenue dans près de 140 affaires de trafic l'an dernier.
Les autorités roumaines disent que durant les deux dernières années, un homme d'affaires libanais, Hassan Awdi, avait convaincu 13 hommes et femmes du Honduras à voyager en Roumanie sous le prétexte de les aider à trouver un emploi. En entrant dans le pays, disent les officiels, Awdi a confisqué leurs passeports et les a forcés à travailler sans salaire pour une usine dont il est copropriétaire. Les Honduriens ont finalement réussi à échapper à leurs trafiquants, mais se sont retrouvés dans un pays étranger sans identification, ressources ni logement. 'Not For Sale' est intervenu et a aidé les victimes à recevoir un traitement de faveur de la part des tribunaux roumains et le gouvernement. Les victimes ont été rapatriées vers le Honduras. Awdi est accusé de plusieurs infractions, y compris la traite des personnes, mais n'a pas encore été jugé.
En général, la police locale ferme les yeux sur ces crimes, et les services sociaux pour les victimes sont pratiquement inexistants. En 2009, le gouvernement roumain a minimisé le rôle dans ce trafic de leur Agence nationale de lutte contre la traite des personnes, et alloué peu de financement pour les services aux victimes et les programmes de prévention contre la traite. La charge pour lutter contre le trafic de l'homme relève donc essentiellement des efforts des ONG sans but lucratif et mal financées. ‘Not For Sale’ Roumanie, par exemple, fournit des échappés avec des services d'hébergement, médicale et psychologique, ainsi que des possibilités d'éducation et de formation professionnelle. Dans le meilleur des cas, leur équipe réintègre les échappés dans leur famille, tant qu'ils ne sont pas exposés au risque d'être à nouvelles victimes de la traite.
Le mois dernier, David Batstone a personnellement étudié le problème de la traite des esclaves à travers l'Europe. Il a commencé son enquête avec les femmes dans les vitrines d'exposition d'Amsterdam, Rotterdam et La Haye. Sa principale source sur le terrain était ‘The Scarlet Cord’, un organisme non lucratif qui a établi des relations avec les travailleuses du sexe dans les quartiers chauds des Pays-Bas depuis 1987. Leurs recherches sur le terrain révèlent que 75% des travailleuses du sexe aux Pays-Bas à l’heure actuelle sont originaires des pays d'Europe orientale et de la Roumanie, de la Hongrie et de la Bulgarie. La Hongrie est aussi l'un des États membres plus récents de l'Union européenne.
L’afflux de jeunes filles de l'Est de l’Europe peut être directement attribué à l’absence d’emploi chez elles et à l'accès facile aux marchés européens plus prospères. Ce qui rend les jeunes filles une cible facile pour les trafiquants qui leur promettent des emplois bien payés à Londres, Rome ou Amsterdam. L'absence de priorité gouvernementale et policière sur le trafic humain à travers l'Europe permet aussi le commerce de prospérer. Si les autorités gouvernementales et policières en Europe commençaient à identifier les victimes du trafic pour ce qu'ils sont, plutôt que des immigrés clandestins ou des prostituées, ce serait une avancée nécessaire. Chaque fois que les pauvres et les plus vulnérables n'ont pas accès à la justice, ils seront exploités. C’est une maxime aussi vrai en Europe et aux États-Unis qu’il l’est en Inde et au Kenya.
En plus d’une loi plus juste doit être ajouté un sérieux effort pour générer des réelles possibilités d'emploi en Roumanie. Mais cette stimulation de l'économie ne viendra probablement pas d'une aide financière du gouvernement national. Il faut des investissements dans les petites et moyennes entreprises qui peuvent générer de véritables emplois pour les Roumains.
Le problème de la traite des êtres humains ne se limite pas à la Roumanie. C'est la crise de toute l'Europe. Les mêmes personnes qui dirigent le commerce des êtres humains se livrent à d'autres crimes abominables, devenus incontrôlables. Mais comme au Kosovo, où les trafiquants d’organes opèrent en toute impunité, il n’y a pas de vraie détermination de la part de nos gouvernements face à un business aussi lucratif.

vendredi 4 février 2011

The Reasons For The Present Global Financial Crisis

Comparison with that of 1929

There are striking similarities between today’s global crisis and the Great Depression of 1929-1934. However, there are also major differences. In 1929, the world was divided between the West, (primarily the United States and Europe,) and the Communist block, (Soviet Russia and China.) Much of the third world today was under the domination of colonial empires, principally those of Great Britain and France. But since the 1970's, globalization has increased geographically, and extended to include countries from the former colonial empires, including that of Russia The new division of the world is based on inequality of economic development. Therefore, between the situation of 1929 and the current one there is a considerable difference of scale. For the whole world is now involved.

A second and more aggravating difference between the world situation in 1929 and now is the effect of rapid and extensive globalization, which has itself led to major difficulties. Potential social instability has appeared everywhere. There is a particularly marked increase in inequality in the United States, and massive unemployment in Western Europe. Russia and the countries of Eastern Europe have also met with major difficulties because of an overly hasty liberalization. Whereas in 1929 unemployment in Europe occurred as a result of the financial and currency crisis, mass unemployment is already evident today within the European Union for different reasons. And it will only increase if the financial crisis today should worsen.

The credit system

Basically, the credit system leads to a creation of a means of payment ex nihilo. The holder of a bank deposit sees it as a source of available cash, while at the same time the bank has already loaned a portion of this deposit, or has redeposited it in another bank. With each credit transaction there is therefore duplication of money. Thus the credit system leads to money creation out of nothing by simply writing on a piece of paper. As the bank is lending what it only partially possesses, the system is therefore fundamentally unstable. The volume of bank deposits will depend upon a dual decision, that of the bank to lend and that of borrowers to become indebted. It follows from this that the total money supply is extremely sensitive to periodic fluctuations, and tends to grow during periods of optimism and decline in times of pessimism. In fact, the size of these fluctuations is directly related to the credit system, and without the growth of money creation (or destruction) by the banking system, they would be significantly reduced if not completely eradicated.

For recipients of credit, it seems miraculous since it permits the creation out of nothing of an effective purchasing power. However, whereas the mobilization of "real savings" by banks to enable them to finance productive investments is acceptable, the use of "false riches" by money creation is inherently harmful. For it undermines economic efficiency by the price distortions it generates in terms of unfair income distribution. Using short term deposits the bank’s activity leads to making financial investments in the medium or long term corresponding to the promises of loans it has made to its customers. This activity is thus based on the exchange of promises by the bank to pay over a given term, against promises to pay on longer terms with interest by its customers. The total assets and liabilities of a bank are equal, but this equality is just accounting practice. The result is a permanent potential instability of the banking system as a whole, since the banks are unable to cope with massive withdrawals of deposits or savings deposits reaching maturity, their assets only being available at a much later date.

If all investments in underdeveloped countries were financed by banks through private loans with a more or less long term maturity, and if funding shortfalls in current American transactions were only insured by long-term foreign investments in the US, all imbalances would have been much smaller with no major risk. What is highly dangerous is the increase of imbalances caused by the credit system, and the instability of the financial and monetary system as a whole on both national and international levels. This instability has been greatly aggravated by the total liberation of capital movements in most parts of the world.

After 1974, the global development of bank loans and the massive inflation that resulted over the next decade reduced real interest rates to very low, even negative values, generating both inefficiency and fraud. Real savings were replaced by long-term loans thanks to money creation ex nihilo. Efficiency as well as equity was seen to be compromised. The operating system has led simultaneously to a waste of capital and a diminution of savings. It is mostly due to money creation, if developing countries have been forced to implement ambitious and unreasonable development plans, and to postpone the necessary adjustments. Since it is easy to buy, one can just pay with promises to pay. By necessity, most debtor countries have had to obtain new loans, both to finance depreciation and interest on their debts and to make new investments. Gradually, however, the situation has become untenable. At the same time the debt of developed countries (as a percentage of gross national product and the interest burden as a percentage of public expenditure) has reached unbearable levels.

Since 1974, massive speculation has grown worldwide. The substitution in March 1973 of the system of floating exchange rate system to a fixed but adjustable parity, increased the influence of speculation on the credit backed exchange rates. Associated with the system of floating exchange rates, the credit system as it currently operates has greatly contributed to the profound instability of exchange rates since 1974. Throughout this period, unbridled speculation has grown over the relative exchange rates of major currencies, thanks to the credit system. Speculation in stocks and bonds has been equally spectacular. In New York since 1983 markets in options on stock-index futures, hedge funds, and derivatives presented as secure, have grown. These low cost futures markets where most positions are traded on credit, have increased speculation and generated a very high volatility. They were accompanied by accelerated growth of hedge funds.

In fact, without the creation of money and purchasing power ex nihilo allowed by the credit system, the extraordinary increases in stock prices that we saw before the big crisis would not have been possible. For expenditure devoted to buying stocks and shares would be restricted to cash payments, and there would be regulatory mechanisms designed to curb unwarranted speculation. Whatever the speculation, be it currency, stocks and shares, etc., the world has become a giant casino where the gaming tables are spread over all longitudes and all latitudes. The game and the stakes involving millions of players around the world never stops. Everywhere, the speculation is favored by the credit system, because you can buy and sell without paying or holding . Real economic data and the nominal rates determined by speculation are normally separate. On all stock exchanges this frenetic and feverish speculation is permitted, fed and amplified by the credit system. Never in the past it had reached such magnitude.

The entire world economy today is based on massive debt pyramid, each part resting on the other in a delicate balance. Never before has such an accumulation of ‘promises to pay’ been so difficult to handle. Never before have we seen such potential instability with a threat of total collapse. All the difficulties stem from the fact that no decentralized market economy can function properly if the uncontrolled creation of new means of payment does not have the necessary adjustments. This is so whenever we pay for expenses or debts with mere promises to pay, and without any direct or indirect compensation. Although all the experts are searching for ways to resolve such problems, no real agreement has been obtained on finding effective solutions. For the moment, almost all experts see little alternative, (due to the pressures on commercial banks, the issuing institutions and the IMF,) but to create new means of payment to allow speculators to repay their debts with interest, even if it means increasing the burden for the future. In fact, the current system of money creation through credit is certainly the "cancer" that irretrievably erodes all market economies and private property.


For the last two decades a new doctrine has gradually been imposed, that of free trade without any obstacles to the movement of goods, services and capital. Under this doctrine the removal of all barriers to these movements is a necessary condition for an optimal distribution of worldwide resources. The idea being that in all countries and in all social groups within each country the financial situation would hopefully improve. The market alone would lead to a stable equilibrium, especially if it could operate on a global scale. Proponents of this doctrine have become as dogmatic as the supporters of communism before its final collapse along with the Berlin Wall, in 1989. For them, any difficulties in the application of the free trade globalist doctrine would only be temporary. For all developing countries, their total opening up to the outside world was a necessary condition, and the extremely rapid development of emerging countries in South-East Asia was furnished as proof. It was the basis of Western countries growth. Therefore, the elimination of all tariff and other barriers was a condition of the developing countries’ financial success, the West being an example for them to follow if they wanted rapid growth and full employment.

All these convictions were eventually swept away by the deep crisis that has developed since 1997 in South-east Asia and Latin America, culminating in Russia in August 1998, and reaching the banks and the American and European stock markets in September 1998. This crisis has been felt everywhere, especially in Asia and Russia, where there is massive unemployment and social hardship. Everywhere the creed of the doctrine of globalist free trade has been questioned. Two major factors have played a decisive role in this global crisis on an unprecedented scale. Firstly, the potential instability of global financial and monetary system, and secondly the globalization of the economy both in monetary and in real terms. In fact, what had to happen has happened. The world economy, which was devoid of any real system of regulation and had become anarchic, could only find itself eventually in great difficulty.

The reigning doctrine has totally disregarded an essential fact. The full liberalization of trade and capital is only possible or desirable in the context of a regional grouping of countries with comparable economic and political social development. In fact, the New World Order has already collapsed before it has even begun. The factual evidence for this largely outweighs the ignorant doctrinal beliefs and ridiculous efforts of the super rich members of the secretive organizations trying to reign over the world’s population, the vast majority of which is getting poorer and more rebellious by the minute.