Mortgage Meltdown Good for Globalists

Article scoffs at market analysts, praises undemocratic SPP

James Corbett
Corbett Report

August 24, 2007


	Emergency injections of billions of dollars are propping up the shattered US housing market.

Globalist shill Deirdre McMurdy penned an article for Sympatico/MSN Finance today that argues that the current meltdown of the subprime mortgage industry and its trickledown through the economy is nothing more than a "summer time stock market correction." The article is shocking in its dismissal of the recent financial turmoil, which even the IMF has admitted is dampening global economic growth. Indeed, it's hard to tell what financial source Ms. McMurdy is getting her news from. Certainly not The Financial Times, MSNBC, Bloomberg or Forbes. The Sympatico/MSN Finance report consists of whithering cliches about slow news days and journalists' "it bleeds, it leads" attitudes. The only fact cited by Ms. McMurdy in the entire article—that the S&P/TSX has recovered half of its initial 2000 point loss— fails to take into account the unprecedented $400 billion dollars that has been pumped into global markets and the cutting of the Fed's discount rate, which is the interest rate the Fed charges commercial banks for using the so-called discount window.

The article is delusional enough to be dismissed as just more Fox News-type market propaganda, but Ms. McMurdy tips her hand toward the end of her argument. "The increasing importance of remembering to preserve some longer-term perspective in an age of short-term goals and lightening-fast responses isn't only a discipline for investors: it's also something that world leaders grapple with as well," she writes. In a bizarre turn, she then contrasts the reaction of market naysayers to the recent global financial crisis with the long-term commitment of North America's heads of state to the North American Union, also known as the SPP. "For example, at the recent North American summit meeting in Montebello, the commitment was made by the leaders of the United States, Mexico and Canada to meet formally every year." The change in subject is abrupt and forced, giving the air of a writer fitting a topical square peg into a journalistic round hole. What does the current global credit crunch have to do with Bush, Harper and Calderon's aspiration to bring about an undemocratic, unaccountable North American Union?

There is in fact a tie between the two subjects. As the latest episode of The Corbett Report podcast outlines, the recent crisis actually plays into the hands of the globalists, who are using a strategy of devaluation of the dollar through rampant money creation to precipitate a hyperinflationary dollar collapse. As researcher Webster Tarpley notes in his recent article on the subject:

If the central banks continue to “inject” tens of billions of dollars every day, while secretly buying masses of worthless kited paper from banks and investment banks, we may soon experience a fool’s paradise interlude which to some will look like recovery – after all, the stock market may appear to be rising. But watch the prices for milk, other food items, gasoline, and other staples. If they begin to levitate upward, we will know that the fan and bellows of hyperinflation are indeed at work.[...]We too may be headed into an era when shoppers take their dollars to the supermarket in a shopping cart, and bring their purchases home in their pockets.


	A 'fantasy' design of the amero featuring Nazi SS thunderbolts.

Although this is a nightmare scenario for any regular citizen, the fact that such a collapse would actually benefit the globalists seeking to expand the North American Union makes it a real possibility. The collapse of the dollar would be a convenient excuse for the political power brokers behind the SPP to introduce the "amero", a multinational currency that globalists have been shilling for with particular fervor of late. Not only is the amero a topic of discussion on CNBC, it merits its own Wikipedia entry, protest website and even a "fantasy" coin design by Daniel Carr, replete with images of fasces and eagles bearing SS thunderbolts.

In this context, the relation between the market meltdown and the North American Union comes to light. One can only hope Ms. McMurdy enjoys her fools paradise of a "market recovery" before she's forced to carry million dollar bills in wheelbarrows to the supermarket...or before we're all forced to carry ameros in our wallet.