The crazy right’s darkest fears include fantasies of a New World Order in which America’s “national sovereignty” is lost. From that premise comes visions of black helicopters, underground prisons and other scenarios from science-fiction totalitarianism. But like so many dire predictions of the past, this is never going to happen. There’s no need. One World Government is already here.
Unlike the coldly efficient political dictatorships of science fiction, this is a more complex kind of government, a hidden manipulation of the world’s affairs through a web of financial and political interactions. Basically, it is a government by financiers, not by politicians. And no politician, however popular, and no bureaucrat, however powerful, can escape its influence.
I don’t know exactly how it works, of course. But I am sure there are those who not only understand the system but also manage to exert control over it. I wonder whether Ben Bernanke is among those insiders? I suspect he belongs to an outer circle of the inner circle, in the know to some extent but not fully briefed.
The events of last week gave the world a glimpse into the limits of Bernanke’s influence. He clumsily sent global stock markets reeling and apparently got a veiled message of dismissal from President Obama. The Fed chief provoked the firestorm by the mildest of comments. All he said was that it might be time to stop flooding financial markets with US dollars, or, as he put it, to take his foot off the gas pedal but not put it on the brake.
The Chicken Little pundits instantly interpreted the remark as a danger signal, and when the pundits sneezed, investors around the world caught pneumonia.
The markets were also shaken when the US president told a PBS interviewer:
I think Ben Bernanke’s done an outstanding job. Ben Bernanke’s a little bit like Bob Mueller, the head of the FBI, where he’s already stayed a lot longer than he wanted or he was supposed to.
Was it a hint to hit the road, Ben? That’s how it was interpreted by most of the financial gurus.
But just what was Bernanke’s offense? Obviously, the Fed chairman could not print unlimited amounts of money forever. Sooner or later, those dollar bills would lose their credibility, and with it, their value.
Zhou Xiachuan, head of the People’s Bank of China, sent the US a message back in April, a message that Bernanke obviously felt obliged to heed. According to Forbes Magazine:
Zhou noted China “agree[s] very much that to overcome a very serious financial crisis, the U.S. needs to inject liquidity,” adding “we understand that quantitative easing is one possible choice , on the other hand, we also hope that money injected into the U.S. economy will stay in the U.S. economy.”
And, putting the nail in the coffin, “Unfortunately, it’s very difficult to control the flow of liquidity, [and] inevitably some emerging economies will suffer too much capital inflow.”
In other words, the top banker in “Communist” China was telling the Fed boss that it was time to take his foot off the accelerator. If that doesn’t demonstrate the global nature of today’s financial system, I don’t know what would.
But as the old people in Jamaica used to say, “Not everything good to eat good to talk.” Bernanke should probably have taken the cue to slow down those printing presses without sharing his intentions with the proletariat.
Unless he did it on purpose? Unless someone wanted to clip the wings of a soaring stock market – someone with a world of influence?
Who knows? Certainly not the pundits. Your guess is as good as theirs.