THE REAL, SECRET CAUSE OF THE CRASH.

by Emanuel A. Winston, Mid East analyst & commentator

 

ROOT CAUSE

Saudi Arabia and Iran, together with Venezuela, abetted by the Big Oil multi-national companies, sought to drive oil prices sky-high. The goal of the Saudis, Iran and Venezuela was not only to make more money, but to damage the Western economy that is dependent on oil energy.

The inability of the sub-prime borrowers to continue making their payments on their mortgages, was caused by them losing their jobs as a result of an economy that was fatally weakened by exorbitant oil prices.

The convoluted way that banks sold these mortgages made it easier for the system to crash. But, a strong economy would have withstood the bursting of the mortgage bubble - the same way it withstood the bursting of the "Dot.Com" bubble.

But, when the whole economy had been successfully weakened by the multi-nationals, Saudis, Iran and Venezuela, it was like tinder waiting to ignite. True, they will now also suffer, but they don’t care - at least they got to "stick it to the West" - in addition to the trillions they bled out of the world’s economies.

 

VULNERABILITY

A crash is not unlike a landslide or an avalanche of snow. In each, there is a subsurface weakness already in place. Then a pebble, a step that loosens a rock and what starts out small builds momentum with thousands of tons hurling down at incredible speed, destroying everything in its path. So, what were the not-so-small pebbles which started America’s economic slide followed by world markets.

I vote for the oil giants whose greed and collusion started the pebble rolling. Granted, other greedy industries poured their own oil on the sub-surface so it wouldn’t take much to start a critical mass sliding faster and faster downhill.

Narrowing it down, I believe it was the multi-nationals, in collusion with the crude oil sources who maneuvered to raise the per barrel price of oil so both could generate a usurious cash flow. If a little profit was good, a lot would be better. So, who were the oil titans would colluded to make it happen.

People to question are the CEOs of each of the major multi-nationals. The questions would come from a Grand Jury and not the lackadaisical Congress, many of whom were on the receiving end of donor funds from the oil industry - both domestic and foreign.

So, who really hustled the American people with staged usurious prices that generated the avalanche globally.

First, it was the CEOs of the multi-national oil corporations.

Next, it was the deals cut with Saudi Aristocracy and the major suppliers of crude oil - that includes OPEC, Iran, Russia and Venezuela.

Then, question the political leaders who are virtual partners when benefit accrue in raw crude and refined products such as gasoline, heating oil, chemicals, pharmaceuticals, plastics, etc. Here I would certainly question the Bush dynasty, James Baker III, Dick Cheney and include the institutions they worked in - like the Carlyle Groups, Haliburton, ‘et al’.

That only scratches the surface because many in Congress and the surrounding bureaucracies - like the Cabinet, etc.

Oil literally was the lubricant of what made business go round in most industries.

In the time of Nixon and Kissinger crude oil was being lifted at less than $2.00 per barrel. Then the Shah of Iran was urged to raise prices by Henry Kissinger. When that rise in prices was not objected to, America and the world stepped up on a greased slippery slope. The game plan was to allow Iran to generate more expendable income so the U.S. military-industrial complex could manufacture and sell weapons’ systems to the Shah. Behind that idea was to use Iran as America’s cop-on-the-block to watch over the safety of the Gulf oil states.

It seemed like a good idea at the time.

In fact, it was such a good idea that every oil maggot jumped aboard the money machine. Price per barrel rose astronomically with all refined products reaching staggering costs to the consumers - all over the world. Trillions were transferred to oil nations while the oil companies posting hundreds of billions in profits.

The robber barons had us by our private parts and we could do nothing about it. When people could no longer afford housing and life’s stuff, we all started to drown. What the robber barons did to us was legal but, I am certain the world’s population would have voted for summary executions if they could grasp the details of the on-going and continual manipulation. The oil swindle was merely the start of the avalanche which bulldozed other tippy industries who had their own greedy CEOs: Banks, Builders, the entire interlocked financial industries across the planet. The pigs had their day but, even as they started to fall, they managed to embezzle even more money from their victims in hopeless bail-out schemes. This included bonuses and golden parachutes for the greedy executives all from the out-of-control bail-out money.

So, what will the embezzlers do now to save themselves?

Well, they could take the world through a major inflationary or devaluation period so all our money becomes worthless and all bank and government debt is paid back in newly printed currency, worth very little.

We could do as some Third World countries have done and merely scrap out the old currency and issue new currency of little value. That should be followed by riots and martial law. Thus, a once civilization spirals down to perhaps a barter system which could work for some, assuming you have anything others want and you want what they have - food, fuel, water, resources.

Emanuel A. Winston

Copyright - Original materials copyright (c) by the authors.