Thursday, May 04, 2006

Caught in the Euro-AmeriKKKan Class War

Caught in the Euro-AmeriKKKan Class War

“We are not a ‘capitalistic’ system or a ‘free market’ system, that’s all just philosophical mumbo-jumbo. In practical terms, we are a ‘Dollar system’ and the greenback must continue to dominate the world oil trade or the Federal Reserve, the IMF, the World Bank and all the privately owned global institutions will crash and burn. That’s not their plan; their plan is to perpetuate this debt-pyramid into infinity; integrating dissident states into an expanding and predatory neoliberal network. The face value of the dollar doesn’t matter to the men who print the money. The actual value is constantly manipulated to shift wealth from one class to another. (via bubbles and inflation) What really matters is who controls the system and the means whereby others are coerced to participate. In the last decade the amount of dollars stockpiled in foreign banks has gone from 53% to nearly 70%; this is a monopoly that the US intends to defend by every means possible. To maintain this monopoly, the Federal Reserve has linked arms with the oil industry (and the US military) in its effort to control the world oil market. This has become an “existential” issue for the corporate elites who run American foreign policy. If the dollar is not supported by access to the world’s dwindling oil supplies, then there is no incentive for foreign banks to accumulate the anemic dollar. (Oil is sold exclusively in US greenbacks) By this standard, we can see that Bush’s fictitious war on terror is really just a smokescreen for a global resource war that will decide which economic system prevails.” The Inevitable Collapse of the Greenback by Mike Whitney

Most Africans in AmeriKKKa are oblivious to the vicious class warfare raging around us. The ruling elites in this country, the shot callers, the ones who pull the strings and manipulate sock puppets like Bu$h and Cheney are determined to return AmeriKKKa to the nineteenth century era of the robber barons, unbridled government corruption, wage peonage and convict leasing (the forerunner of the modern prison industrial complex). The bankers and financiers have set the stage for a systemic economic collapse that will make the recent recession look like children’s play. While we have been hearing gloom and doom predictions for years, the signs are apparent a major economic downturn is immanent. Federal deficits continue to balloon out of control and Bu$h and Co. continue to champion Ronald Reagan’s failed policies of Voodoo Economics. Consequently the US government borrows more than two billion dollars a day just to pay the debt service on the money they’ve already borrowed and fund the operating costs of a government going buck wild in its spending. This cannot continue, the US Treasury can’t print enough money to keep itself afloat nor can it continue borrowing money from foreign countries at a time when AmeriKKKa as perceived as a rabid wolf bent on devouring the world’s natural and human resources.
This is the situation Bu$h and Co have ushered this nation into. The short term impact of these policies will be to drive up inflation at a time when: jobs are being outsourced overseas due to "trade agreements” that favor the dismantling of the AmeriKKKan economy, fuel prices will remain volatile, industry bankruptcies are impacting not only the company’s bottom line but also, jobs, worker pensions and benefits. The steel, airline and auto industries are prime examples. The white working class and middle class are being squeezed and pushed into economic insolvency as they have foolishly maxed out their credit cards and home equity and now interest rates are beginning to climb. The new bankruptcy law, inflation and rising interest rates are cutting into an already shrinking US dollar. Joe and Jane Sixpack are panicking as they see their paychecks become more and more anemic and feeble in the face of rising costs and a shrinking standard of living. For bougie blacks, the situation is even more tenuous because these folks tend to live way beyond their means from paycheck to paycheck and they have less of a savings or investment cushion to fall back on when things get tight. For poor folks in the hood and rural areas it will get worse but at least they have the remnants of community social networks that may sustain them for a short while.
None of this is happening in a vacuum. As they say, “all politics is local”. “Even if Washington succeeds in stopping Iran’s plans to compete in the oil market, it’s still a bumpy road ahead for the greenback. The dollar is under growing pressure from overspending and mismanagement. The prospect of diminishing foreign inflows and a fragile housing market are telltale signs of an inflationary cycle. America is now facing a slow-motion meltdown that could escalate into a widespread run on the dollar. Attacking Iran will only aggravate the situation and push tenuous states towards new alliances. (China, India, Venezuela and Russia have already expressed support for the new bourse) Military action will do nothing to relieve America’s enormous account imbalances or lesson the vulnerability of the ailing greenback.” We are feeling the crunch (if you aren’t feeling it, you soon will be) better known as “blowback”; the unintended consequences of AmeriKKKan imperialism and the results of heightening global competition for crude oil and other natural resources. The gas price shock we are experiencing is just one aspect of what we will have to deal with. AmeriKKKa’s imperialistic overreach in Afghanistan, Haiti and Iraq has turned the world against this nation’s “leadership”. Countries like Venezuela, and Japan that cannot defeat AmeriKKKa militarily are strategically moving to protect themselves economically and flex their muscles by making linkages with other nations while pursuing policies that will undermine US imperialism and hegemony while accelerating AmeriKKKa’s demise. Many nations are now talking openly about dumping the US dollar as the world’s medium of exchange for oil. Saddam Hussein did in 2000 which is the real reason Bu$h and Co went after him. Iran will open its own oil exchange where oil is traded in Euros this month, hence the saber rating against Tehran. Several Asian countries are threatening to diversify their dollar reserves and begin trading in Euros. Others talk of creating an Asian currency to rival the Euro and US dollar.
AmeriKKKa’s position as the world’s major economic power based upon US dollar hegemony backed by “shock and awe” type military prowess is about to end. The fact US military and civilian leaders are even whispering the L word regarding Iraq and are saying the US cannot win a war with Iran, is a sure sign AmeriKKKa is not as tough as Bu$h and the NeoCon crazies. would have us believe. The only real solution is bona fide change in the values, government and direction of this nation. Absent that, the class war will intensify. We will suffer as conditions worsen, inflation rises and standards of living continue to wane. On the international front, the imperial hubris and fiscal mismanagement of the ruling elites will ensure the AmeriKKKan empire is short lived.



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