IMF MANAGING DIRECTOR’ STOCK FALLING: HE’S ‘DONE A WOLFOWITZ’
Unfortunately, Dominique Strauss-Kahn’s authority is in the process of being eroded, as he faces his ‘Wolfowitz moment’. Specifically, the IMF has begun an investigation into whether he abused his position in connection with a relationship with a subordinate.
In August, the Fund hired the US law firm of Morgan, Lewis and Brokius LLP to look into the IMF Managing Director’s relationship with Hungarian-born Piroska Nagy, a former senior official in the IMF’s Africa Department. Ms. Nagy left the Fund in August under a buyout of nearly 600 employees instituted by M. Strauss-Kahn to reduce IMF costs, and she now works for the European Bank for Reconstruction and Development. The investigation was triggered when A. Shakour Shaalan, an Egyptian who is the longest-serving member of the IMF’s Board and who represents much of the Middle East, asked for an independent investigation.
It is reported to be looking into how Ms. Nagy was chosen for the buyout, if she was paid more than she was entitled to, and if she was allowed to take the buyout outside normal IMF channels. Simon Johnson, a former IMF Chief Economist , has commented:
‘This is a very bad time for a leadership distraction. I think the global crisis is just beginning and I think it is going to get much worse before it gets better’.
The affair echoes the similar scandal 15 months ago when neo-con Paul Wolfowitz had to resign as President of the World Bank after investigators had found that he had arranged a 36% pay rise for his companion Shaha Riza in 2005, shortly after he assumed his post.
BANKERS PICKED UP LAST YEAR GET 25 YEARS IN EUROPE
13th October 2008: It is again reported to us that the thousands of bankers who were picked up this time last year and packed aboard a fleet of nine aircraft and then flown off to Europe, all received maximum jail sentences of 25 years for their financial crimes. These were committed in Europe, so European judicial processes were involved. They were given no time to collect their toothbrushes or to contact their family members. They had assumed that they enjoyed Bush-Greenspan Crime Nexus/CIA/NSC protection, and that there was safety in numbers, but they miscalculated.
Since the Bush-Greenspan global financial fraud operation used Britain as its Master Platform, in the case of those bankers who were exported to Britain, they were subject to English jurisdiction. All those who were arrested and exported to Europe were subject to the European anti-terrorism legislation, which embraces money laundering and all forms of financial fraud, as noted above.
A large number of bankers were exported to Germany where they also received maximum jail sentences. As noted in the preceding report, when the bankers’ lawyers flocked over to Britain and Germany to try to extract their clients from custody, many of them were likewise arrested as co-conspirators to the fraudulent financial operations, and received comparably harsh sentences.
• IMAGINE: THIS FINANCIAL CORRUPTION HAS NECESSITATED THE PHYSICAL REMOVAL FROM THE SCENE OF AN ESTIMATED 10,000 BANKERS AND OTHERS TO DATE.
GREENSPAN AND GEORGE REPORTED ARRESTED IN JUNE-JULY 2007
In the UK context, geocriminal funds were stored in accounts inter alia with the Bank of England. In July 2007, we reported exclusively that the former Governor of the Bank of England, Eddie George, was arrested, like his colleague in financial crime, Dr Alan Greenspan, criminal Godfather George H. W. Bush Sr.’s financial technician and the notorious inventor of the ‘Never-Pay Syndrome’.
• Corrupt UK financial operations were run, it will be recalled, out of a ‘backroom operation’ based in Birmingham, headed by an operative named Carl Daniels.
After Greenspan had ‘bracelets’ dangled adjacent to his person, and a number of Dr Greenspan’s associates were liquidated between 30th September and 2nd October 2008 as previously reported, Greenspan was told that ‘if you don’t cooperate, you will be next’. We were then advised (on 5th October) that Greenspan’s accounts have been frozen, all the money contained in the relevant accounts was removed, and the accounts have been closed. No wonder he was distinctly subdued when he appeared before that Congressional Committee on 23rd October.
REGIONAL FEDERAL RESERVE BANKS ‘OUT OF SYNC’ WITH THE BOARD
Separately, on 4th October, we had been advised that the independent regional Federal Reserve Banks are not at all ‘in sync’ these days with the corrupt Federal Reserve Board in respect of any further ‘funny money’ trading operations to be financed from a new platform seeded inter alia by the ‘new money’ appropriated by Congress during the theatrical Congressional ‘sausage machine’ operation in September. The regional Feds have their feet much more firmly on the ground.
It is also believed that Dr Bernanke, whose body movements in public these days betray his justified nervousness, has informed agents for the ‘Box Gang’ criminalists that he and other colleagues ‘are not going to die or go to prison for you, and you are on your own’ (paraphrase).
Actually, under the Misprision of Felony Statute, Bernanke, like all these people, is a co-conspirator and an accessory to the fact of massive open-ended crimes and misdemeanours, not least if he has not reported the financial crimes that he knows all about, to a military officer, Judge, or some other person in authority under the United States (which of course he cannot do without incriminating himself in the process). Same applies, by the way, to ALL Americans who know about these crimes.
The Editor regards this ‘revolt’ inside the Federal Reserve System as a significant development. This internal pressure has evolved exclusively as a consequence of the exposures, which have triggered judicial processes in pertinent countries that have been grinding away slowly but surely behind the scenes, the impact of which will be cumulatively dramatic. These processes cannot be hurried, and neither can any aspect of them be discussed: they take their time, but eventually they deliver decisive results, many of which can now be detected behind the scenes.
THE QUEEN VISITED PARIS ON 12TH OCTOBER
Her Majesty The Queen, as Head of State, visited Paris on Sunday 12th October for the Heads of State Meeting. She attended in order to be able to give her personal imprimatur to agreements.
In the case of The Queen, ‘Mohammed’ goes to the mountain, rather than the mountain visiting Mohammed (to coin a phrase). Therefore, Her Majesty’s presence would have been remote from the location of the Meeting. As for the earlier report that The Queen travelled to Andrews Air Force Base, that was false. An emissary flew to Andrews Air Force Base.
‘Tarmac meetings’ of Heads of State are sometimes equivalent to meetings in the mid-Atlantic, in international waters, so that in theory The Queen could have made that journey, even though the Monarch does not leave the United Kingdom without the prior agreement of Her Ministers. The last time a King left the country without informing the Government, he was replaced.
TELEVISED HUMILIATION OF THE C.E.O.s OF THE LARGEST U.S. INSTITUTIONS
14th October: The CEOs of the big US financial criminal enterprises were televised marching up the steps of the US Treasury Department building in a staged display to show the public that they were accepting the assistance of the Treasury, driven by developments in Europe.
• However one does not ordinarily enter the Treasury building by walking up the steep steps. The normal entrance is by means of an elevator.
This was therefore a clearly staged operation for public consumption, ostensibly designed to show ‘solidarity’ among the criminalist financial elite. But the unfortunate impression now created was of seriously deflated and compromised, formerly arrogant bankers’ backs to the camera as they walked up the steps into the clutches of their corrupt masters, the US Government.
The US Treasury was forced to switch its priorities to pumping money into these criminal financial enterprises, by actions taken following acceptance by the Europeans of the so-called ‘Brown Plan’, which amounts to no more than plain backdoor socialist semi-nationalisation of the banking sector.
The single redeeming feature in the US case is that the new debt securities involved are only guaranteed for three years: i.e., there is a sunset clause, which does not apply in the European context. The US Treasury had to switch its approach in order to avoid a rush of deposits from the criminal financial enterprises into accounts with foreign banks.
Meanwhile Americans have cottoned on that the regional banks have not generally been involved in this fraudulent finance, so that a rush of money from the metropolitan institutions into regional banks has been taking place. Even so, official assistance is now being extended to regional banks, implying that the situation is vastly worse than ‘assumed’ earlier. |
