Sunday, September 21, 2008

AIG History: The Spooks & Spies
Who Sit Beside Everyone's Door


Get ready for another effed up Wall Street week. Hopefully it won't be any more traumatic than the last one. Quite a few of us lost our shirts when the market nearly threw the economy into an immediate Great Depression II. One of my favorite brothas, my adopted daughter's biological uncle, lost nearly a quarter of a mill.

As she pointed out, "Good thing he's gotta a good job and some real estate."

You got that right.

Damn, damn, dammit, though. I was hoping to take her and my other rug rat to live with him if my bank goes bust and I can't keep a job and the landlord sets us out. Last thing he told me was we can live in my tent...

He is one fine brotha. I could go for that, even though it would freak out Casie. Oh well.

On Friday, I called my last mega-employer and asked them how my retirement fund is doing.

"It's doing fine."

"Any chance y'all can go bankrupt?"

"If the state does, we will too."

"How's it looking from your end?"

"Let me refer you to our website..."

...which didn't say jack, and you know why?

Everyone's got their fingers crossed and hoping no more chickens will come home to roost.

Shit. That's what those chickens are already doing, roosting and shitting on us.

Kudos to Jesse Jackson Jr., by the way, for being the first to bring up this point on Social Security. I saw him when he said it too, on MSNBC's Morning Joe program on Thursday or Friday.



Brotha said something to the effect, "It's a good thing the GOP push to privatize Social Security didn't go through. Imagine if that had been part of Lehman or Merrill Lynch."


You should have seen those three white conservatives pretending to be journalists stare at him in hostile amazement. Not one of them said, "OH MY GOD, Jesse! You're so right! How could we have been so wrong!?"

Morning Jackass Joe or the other two jealous azzes didn't even follow up with a single question. Fucking bastards still can't let it go. They're too pressed to keep the black man out of office, and the Dems with their social program plans and no more friggin' profitable wars ideas out of power.

So what happened that the feds stepped in and bailed out AIG and saved the global economy from collapse? I'll tell ya now. Come close. Gotta whisper this in case 'they're' listening.

The thing that saved our asses last week is the very thing that created so many of our problems:
Spook agencies and imperialism.

Less than ten days ago, Fannie Mae and Freddie Mac died. The feds came to the rescue out of sheer necessity.


On Black Monday, September 15, Lehman Brothers officially died. The following day, Merrill Lynch sorta did too, but the Rockefeller-owned Bank of America sorta saved it by cannibalizing it.


Then on Wednesday, the American International Group, also known as AIG. collapsed, and that's when the Spooks Who Sit Besides Everybody's Door had to jump in and rescue it, even though they previously said they weren't bailing out no more gawd damned financial institutions. The feds now own 89% of AIG.

Take a guess why. Go 'head, I'll wait.

Read this excerpt below, and it will explain a whole lot to you that you likely haven't seen nor will ever see discussed in the mainstream media.

Bailout of AIG, the CIA, & Covert Operations
9/16/2008

By now you no doubt have heard about the AIG bailout... the insurance business is heavily involved in covert operations. Some of you may be thinking "Huh? Insurance companies and covert operations?! Wow, this is some real nutballery..."


Well if so then just consider the following excerpts from an article entitled "The Secret (Insurance) Agent Men" by Los Angeles Times staff writer Mark Fritz, originally published on September 22nd, 2000 [in blue font]:

***

COLLEGE PARK, Md. They knew which factories to burn, which bridges to blow up, which cargo ships could be sunk in good conscience. They had pothole counts for roads used for invasion and head counts for city blocks marked for incineration.

They weren't just secret agents. They were secret insurance agents. These undercover underwriters gave their World War II spymasters access to a global industry that both bankrolled and, ultimately, helped bring down Adolf Hitler's Third Reich.

Newly declassified U.S. intelligence files tell the remarkable story of the ultra-secret Insurance Intelligence Unit, a component of the Office of Strategic Services, a forerunner of the CIA, and its elite counterintelligence branch X-2.

. . . the unit mined standard insurance records for blueprints of bomb plants, timetables of tide changes and thousands of other details about targets, from a brewery in Bangkok to a candy company in Bergedorf. 'They used insurance information as a weapon of war,' said Greg Bradsher, a historian and National Archives expert on the declassified records.

The men behind the insurance unit were OSS head William "Wild Bill" Donovan and California-born insurance magnate Cornelius V. Starr. Starr had started out selling insurance to Chinese in Shanghai in 1919 and, over the next 50 years, would build what is now American International Group, one of the biggest insurance companies in the world.

Starr sent insurance agents into Asia and Europe even before the bombs stopped falling and built what eventually became AIG, which today has its world headquarters in the same downtown New York building where the tiny OSS unit toiled in the deepest secrecy.

Starr died in 1968, but his empire endures. AIG is the biggest foreign insurance company in Japan. More than a third of its $40 billion in revenue last year came from the Far East theater that Starr helped carpet bomb and liberate.

***

If the insurance business was heavily involved in OSS covert operations during World War II, it is most definitely NOT a leap of logic to suspect that the world's biggest insurer today (AIG) is also heavily involved in them. This is particularly the case when you consider that, as the L.A. Times article explained, the man who ran the OSS's insurance intel unit is the same man who established AIG.

What exactly the insurance related covert operations currently involve I (obviously) don't know. It stands to reason, however, that whatever they do involve, a bankruptcy of the world's biggest insurer would likely be very disruptive to them.

In other words, federal government was probably *extremely* motivated to save AIG for reasons that aren't going to be acknowledged in the mainstream or alternative press.


Hopefully this puts the bailout of AIG in a bit more perspective.

- Matt

*****

No shit, Matt. That was very en-fucking-lightening. I sincerely thank you, and hope that you won't get an anal probe the next time you try to fly somewhere. Seriously, though, thanks for digging up that eight year old LA Times article, and I wish you well. Somebody's gotta connect the dots to this shit or we're all sheep headed for the slaughter house.

Michel Chossudovsky, a liberal watchdog for democracy and famous as hell author, says we're watching "an internal war within the financial system [that] is unfolding."

In this article, Global Financial Meltdown, dated 9/18/2008, he says,

"What is of utmost significance is that this plunge in stock market values occurs at the crossroads of a major military adventure. The global financial crisis is intimately related to the war.

A spiraling defense budget backlashes on the civilian sectors of economic activity. The war economy has a direct bearing on fiscal and monetary policy. Defense expenditure is in excess of $500 billion. A separate $70 billion is earmarked "to cover war costs into the early months of a new administration...

Those who have access to privileged information (political, intelligence, military, scientific, etc.) will invariably have the upper hand in the conduct of these highly leveraged speculative transactions, which are the source of tremendous financial gains. The CIA has its own financial institutions on Wall Street.

In turn the corridors of private banking and offshore banking, enable financial institutions to transfer their profits at ease, from one location to another. This procedure is also used as a safety net which protects the interests of key financial actors including CEOs, major shareholders, etc of troubled financial institutions. Large amounts of money can be moved out at an opportune moment, prior to the company's demise on the stock market. (e.g. Lehman, Merrill Lynch and AIG).

The Federal Reserve Bank of New York and its powerful stakeholders have "inside information" on the conduct of US monetary policy. They are thereby in a position to predict outcomes and hedge their bets in highly leveraged operations on the futures and derivatives markets. They are in an obvious conflict of interest because their prior knowledge of particular decisions by the Federal Reserve Board enables them as private banking institutions to make multibillion dollar profits.

Links to US intelligence, to the CIA, Homeland Security, to the Pentagon are crucial in the conduct of speculative trade, since it allows the speculators to predict events, through prior knowledge of foreign policy and/or national security decisions which directly affect financial markets. An example: the put options on airline stocks in the days preceding the 9/11 attacks."


Chossudovsky mentions Rockefeller too. "The financial meltdown on Wall Street largely benefits Bank of America and JP Morgan Chase, which is part of the Rockefeller empire, at the expense of Lehman Brothers, Merrill Lynch, Goldman Sachs and Morgan Stanley." He also sees Citigroup and American Express Co. as potential losers.

So, Rockefeller and his CFR are major playas in this.

lt helps to understand they are fans of population control to lessen the burden on world resources. As an abstract this is sensible, but the policies used have the stink of brutal and suspiciously racist depopulation measures. You might want to google around a bit on this.

And, if you listen carefully to this CSPAN news clip of a speech David Rockefeller gave, he clearly illustrates his Malthusian thinking and values of using economics to carry out the goal of population control.

In addition, unless I misunderstand and unless the CFR shelved their plan to consolidate the US, Canada, and Mexico into one nation, they still hope to transform the USA into the North American Union and have one new currency for all three countries. I wrote about that here, on Independence Day just for the irony.



They need oil to do that.

They need to win imperialistic wars to do that, and lots of 'em.

They need money to do that.

Ours... and much of it gone missing in the past two weeks and during the Bush reign.

Poof. We had Black Monday last week, but as I said in a post that day, it's going to be a Black Autumn. I keep hoping some group will be able to plug and repair the dam; in absence of this, Divine Intervention.

I've always wondered, ain't those mofo's rich enough? Is money like good sex to them, where they never get enough? Is that what happens when you get really friggin' old and decrepit?

Mark my words, peeps, three more biggies will go down by the end of this month. If we're really lucky, they'll be mergers, not bankruptcies.

Fuck it. Worse comes to worse, I gotta tent.


20 comments:

  1. Good post. But I sure hope you wrong about another bad week on Wall Street. But I would about against you. Love that cartoon about Uncle Sam pointing and saying we gullible taxpayers will bail the rich white boys out. Hope it's alright if I borrow it for my blog.

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  2. good post as usual. we'll all be watching. i'm still amazed at how much ppl my age are unconcerned. i've got parents like the rest of them but i don't see how they'll be bailing me out when they got their own problems to worry about.

    [emeritus]

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  3. MacDaddy, no prob. I borrowed it elsewhere, who borrowed it elsewhere... and so on.

    I hope others whom I think have good foresight and track records are wrong too.

    Emeritus, Well, most of the general population is relatively unconcerned. The hurricane on Wall Street has barely reached a windy day level on all of the Main Streets, and in the spots it has, mainstream media ain't televising it much.

    The discussion they really aren't having is that Wall Street bailout shifts our nation from being capitalist to socialist: the feds didn't let the free market fail. It bought it - Fannie Mae, Freddie Mac, and AIG, and now owns them. While so many applaud these moves, they are the same ones who resist spending more on public programs and scream and cry 'socialism' over universal health care where the govt would pick up the tab.

    I'm almost reluctant to write about these things. People respond more to what they see affecting them directly than small handful of nearly all rich white folks who are far removed from them.

    I do so anyway with hope that at least some reading these posts will do whatever necessary to protect themselves financially NOW, ie, get a 2nd job, save more, store surplus food in the pantry, check to see if their bank isn't in a coma, have some cash on hand, etc.

    More changes are a'coming, and I don't think most of us will like it.

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  4. WOW! Awesome post!!! Your post makes me more fearful because I don't feel the urgency with black folks, who are probably the most unprepared to deal with this crisis. We should be screaming from the rooftops like maniacs, but we're acting like mouses. We are in big, big, trouble.

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  5. Thanks Prof Tracey. I don't feel good about this coming week at all. My mind's been working overtime; I've been broke but ain't never been poor, and sure don't look forward to it if/when all the bubbles burst.

    As they say, what don't kill ya will make ya stronger; black folks survived untold misery, we as a people have got to get through this too.

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  6. I am with you...I do think it will get worse before itgets better. The failing of folks losing hteir homes, jobs, banks, investments has not registered with the American public. We are too focused on...Brittany Spears, or R.Kelly, or Prada lates pumps. Nope i am not judging, I just believe that folks are still asleep at the wheel. And they are about to crash into a Moutain overlooking a very black hole.

    Again, thanks for reading me and, my archives. Very kind of you to do that and comment!

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  7. No prob, Lovebabz. I had a feeling you had an interesting story to tell, and you did.

    You mentioned that a lot of us are asleep at the wheel. This may be more true of the Wall Street crowd and Congress than the ordinary American.

    For us, I think it may be more the case of there's either no road map or the one we're given by the mainstream media and some of our politicians is deliberately filled with misinformation. Either way, we're improvising

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  8. U gotta tent and a hot man to keep you warm...strange relation or no...

    - WaMu is going down
    - Morgan Stanley and Sachs are close seconds
    - The Big 3 are doomed
    - And I'd expect a major airline to crumble or merge

    Oh and keep an eye on Wachvia 'cause it ain't looking pretty their either...

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  9. Excellent post! My husband and I were just talking about how there has to be something more to the story as far as why the government bailed out AIG and not the others. This information sheds a whole new light on the situation.

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  10. Greenlee is my folk
    loved that book
    and apt analogy too

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  11. Good post...very informative.

    I think I'm gonna take it back to the old school and withdraw all my cash from the banks and stuff it in a mattress. I can't trust how things are going down.

    I love the illustations also by the way.

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  12. Thanks, Monk. So far Bank of America is one of the safest, and unless FDIC goes bust, I'm betting they'll survive.

    A safe deposit box there for your cash will alleviate the worries of your money going up in smoke or a burglary. I think it's a good idea to keep a little cash (that you wouldn't miss if FDIC goes bust next and your bank closes) in a checking account, and a couple credit cards active to keep one's credit rating good. Good luck.

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  13. Man, good look on that AIG info. Changes my perspective on everything. I hope you find my post tomorrow as enlightening.

    Also, you ain't never lied about how the Bush fiascos have doomed us all to continue trodding down the same path. No matter who gets elected, Bush has screwed things up so bad that we're trapped cleaning up his mess for generations. Then again, like my pops said, the only way a black ma was going to get the job was if things were so bad that no other smart person would really want it.

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  14. Heh-heh-heh. Dontcha just love those old sayings?

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  15. Bomb post! I'm getting a tent tomorrow.

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  16. McCain is suspending his campaign to back to Washington to work on the Bailout bill.

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  17. Brightstarr, don't forget the sleeping bags and flashlights.

    Rottnkid, yeah, heard about him ducking out and mentioned this in the post after this one. Thanks anyway.

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  18. 100yrs from now George Bush's face will be printd on our money and he'll be considered a hero the like of FDR and his New Deal.

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  19. Great post, I hate AIG with the heat of a 100 fires. What is "too big to fail"? Also the oil post is right on the money that is another monopoly. http://www.mycreditsucks.org

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Hi, this is Kit.

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