Blogs erased from websites by unknown parties tend to concentrate the attention. Below is the copy of an erased blog which appeared originally in November, 2008, on the website www.criminalstate.com . The author is Jeff Gates, formerly counsel to the Senate Finance Committee, who recently published “Guilt by Association.”
The article sketches a terrible although not implausible financial future. It proposes that internationally-connected financiers could absorb the resource wealth of the via a model pioneered in mid-1990s
. Oligarchs’ virtual theft of Russian national assets operated with the advice of a team handpicked by current Obama presidential advisor Lawrence Summers.
Gates’ scenario is compatible with another speculation on the
’ financial future. The government’s enormous deficit and debt funded by new money created by the Federal Reserve is likely to cause a collapse in the value of the dollar. Ultimately, the dollar will be rejected as the world’s reserve currency. Substitution of an International Monetary Fund instrument - perhaps its Special Drawing Rights [SDRs] – as the world reserve currency is a possibility. If some global body such as the IMF became the issuer of world reserve currency, the controllers would be little different from those who now operate major financial institutions – the Federal Reserve, Goldman Sachs, UBS -- familiar to every investor.
If seems unlikely that countries such as and
would welcome a new fiat currency with its demonstrated potential for financial meltdowns. An alliance between all who want sound money, including many Americans, does not seem wholly improbable and might defeat the schemes possibly envisioned by criminal networks.V.