“Allow me to issue and control a nation’s currency, and I care not who makes its laws.” (Mayer Rothschild, 1791)

“You mean to tell me that the success of the program and my reelection hinges on the Federal Reserve and a bunch of fucking bond traders?” (Pres. Bill Clinton)

The essence of corporate globalization is to establish rules, procedures and economic interdependencies which lock the nations of the world into an all-encompassing system of transnational financial control. Failure to play by the corporate rules results in the loss of the money-power required to enable their trade dependent economies to function, and to provide food and other essentials of life to their populations. Adhering to the rules entails opening up the national economy to the unregulated, unhindered entry and exit of foreign capital. A powerful state such as the US is much more able to bend the rules, restricting foreign capital to the purchase primarily of US Treasuries, however, the weaker states are subject to complete penetration and financial domination.

People frequently don’t understand the extent to which money and credit are the instruments used to control a nation’s economy, which, in turn, is a major part of the national life. Directing the flow of money directs what gets done. Restricting the flow of money restricts what gets done. Large, sudden inflows of foreign capital create an unbalanced economic frenzy to find uses for the funds as bubbles are created. Large, sudden withdrawals of foreign capital cause an economy to deflate and slow to a crawl as productive assets are starved for funds. The rules of the game frequently result in otherwise healthy businesses to become insolvent and go bankrupt, their assets sold off at pennies on the dollar. Without capital controls, currency speculators can attack currencies and destroy economies for speculative gain. Not long ago, the vast majority of international currency transactions involved trade and other productive uses. Nowadays, unregulated currency speculation accounts for over 90% of international currency transactions.

Money is the lifeblood of modern economies. Allowing massively concentrated private capital to operate freely essentially turns the economy over to corporate control. For all practical purposes, this economic control translates to political control as well. Should a nation implement policies not to the liking of global finance, global finance has only to pull its money out and crash the economy. This gives the global financial oligarchy de facto veto power over the actions of the political system, hence, macro economic decisions are not subject to political control and moderation. For this reason, it is absolutely essential that corporate globalization be rolled back and global finance restructured to facilitate local autonomy and control.

See also "Keith's NO EMPIRE Blog" at

http://saskck.blogspot.com