Disaster Capitalism

cruxpuppy on Mike Whitney's Mushroom Cloud over Wall Street (the two make an excellent team)

Yes! Heartfelt indignation is a tonic for us all, and Mike Whitney knows how to lay it down!

The picture is muddled, though, as it tends to be in moments of traumatic shock, as described by Naomi Klein. We are not seeing the nationalization of the banking system. We are witnessing the mother of all privatizations.

The Fed was created, ostensibly, to make monetary policy independent of passing political humors. The august men of wealth know money best and are capable of administering the wisest monetary policies.

Surprise! The Fed is the Trojan horse of the oligarchs. The Treasury is the Fed's sock puppet. Paulson is Bernanke's main man. The private monetary system, called the Federal Reserve, is the control arm of the corporate oligarchy designed to promote an anti-democratic political agenda.

"Nationalization" is a meaningless term when the government has been privatized. The Bill of Rights has been mortally wounded, the separation of powers overwhelmed by the Executive, the Congressional eye blinded, and now the power of the purse stripped away.

The corporate oligarchs have launched the surge that will consolidate their power in the long war against the people that was launched on 911. It is not reviewable.

These same oligarchs tried an old fashioned banana republic style coup in the 30's against FDR. It was defeated by the patriot Marine Major General Smedley Butler. The names of the coup plotters were hushed up and they lived to fight another day.

Welcome to the neo-national socialism. And if one is inclined to foresee economic ruin in this privatized government, bear in mind the economic miracles wrought by the Third Reich.