Global Finance Capitalism is “Functionally Bankrupt": Could An American Nationalist Party Make a Difference?
By Richard C. Cook
Global Research, September 17, 2008
Part II:
Part I of this two-part article on “Change” asked, “Has the West reached its limits?” The answer increasingly seems to be, “Yes, it has.”
The U.S. , as the main agent of expansion for global finance capitalism, has been declared “functionally bankrupt” by economists close to the Federal Reserve. (Journal of the St. Louis Federal Reserve, August 2006). But no one has wanted to listen. What is really behind the ongoing financial collapse is the ruin wrought by a debt-based monetary system, and it is clear that those who run the system have no answer.
The financial collapse is dragging down the producing economy as job losses mount. But relations with other nations are affected as well.
Nations outside the Western sphere of influence, most notably Russia , have declared that “enough is enough.” For Russia and nations such as Venezuela and Iran , and likely many more struggling with the question of where their real interests lie, a unipolar world where the U.S. military serves as the police force for the New World Order’s outrageously overextended financial empire is no longer acceptable.
Through the election of 2008, the citizens of the U.S. have the latitude to choose their next step, though some say they don’t, because the Republication Party knows how to rig the electoral process. But the public also has the ability to put a stop to that if they so choose. Human beings are not innocent of their fate.
Basically there are only two options for a nation that has painted itself into a corner by hosting a predatory financial system, including the system of dollar hegemony where other nations purchase that nation’s debt to finance its fiscal and trade deficits. So what does that nation do when those other nations start to resist?
By Richard C. Cook
Global Research, September 17, 2008
Part II:
Part I of this two-part article on “Change” asked, “Has the West reached its limits?” The answer increasingly seems to be, “Yes, it has.”
The U.S. , as the main agent of expansion for global finance capitalism, has been declared “functionally bankrupt” by economists close to the Federal Reserve. (Journal of the St. Louis Federal Reserve, August 2006). But no one has wanted to listen. What is really behind the ongoing financial collapse is the ruin wrought by a debt-based monetary system, and it is clear that those who run the system have no answer.
The financial collapse is dragging down the producing economy as job losses mount. But relations with other nations are affected as well.
Nations outside the Western sphere of influence, most notably Russia , have declared that “enough is enough.” For Russia and nations such as Venezuela and Iran , and likely many more struggling with the question of where their real interests lie, a unipolar world where the U.S. military serves as the police force for the New World Order’s outrageously overextended financial empire is no longer acceptable.
Through the election of 2008, the citizens of the U.S. have the latitude to choose their next step, though some say they don’t, because the Republication Party knows how to rig the electoral process. But the public also has the ability to put a stop to that if they so choose. Human beings are not innocent of their fate.
Basically there are only two options for a nation that has painted itself into a corner by hosting a predatory financial system, including the system of dollar hegemony where other nations purchase that nation’s debt to finance its fiscal and trade deficits. So what does that nation do when those other nations start to resist?
