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GLOBAL FINANCIAL MELTDOWN, SOCIOECONOMIC INJUSTICE AND WAR:CAUSE AND REMEDY
Saturday April 5th 2008 - 9am-6pm £10

Abrar House, 45 Crawford Place, London WIH 1LP - click for STREETMAP
(neaerst tube stations, Edgware Road, or Paddington)


Global Vision 2000 will be hosting a special one day conference on " The Global Financial Meltdown, Socioeconomic Injustice and War: Cause and Remedy " on Saturday 5th April 2008 in London.  As an independent international Islamic thinktank it will be building on previous events focussing on these issues. This time it will bring together some of the UK's leading independent political and economic thinkers, writers and campaigners to focus on these issues at a time of crisis and turbulence in the global financial markets and impending recession and ongoing wars raging around the world.

The significance of the event is underlined as it is clear that the credit bubble has combined with the housing bubble and the falling dollar to lead to an unfolding deepening economic crisis centred in the USA but rippling across the world. The speakers will be offering an alternative holistic diagnosis and prescription on what needs to be done urgently to address this crisis. This is desperately needed as vested interests such as mainstream bankers and financial journalists are clearly disguising the nature of the crisis as confidence in the capital markets and banks will result. The connection with socioeconomic injustice will be highlighted with why poverty and underdevelopment persists globally. Also the connection with war will be examined by throwing light on the military industrial complex's relationship with this system.  

This event brings together both leading Muslim and Western thinkers and movements seeking monetary and political reform at a time when Western democracies credibility is being questioned post 9/11. The Global War of Terror has given rise to a discourse of a "long war" and the rise of McCarthyism and the surveillance State sold to the public on the rhetoric of counterterrorist policies. It is time to steer the discussion on the real crisis and issues of the age which is the legitimacy and nature of the system we are in living and transacting within.

This special event is guaranteed to enlighten and inspire the people with the knowledge, tools and networks to be the change. A must attend event for the perplexed seeking guidance for themselves, their families and communities. There will be opportunities to interact with the panellists in Q & A sessions.

Highlights and speakers of the event include-
A special film on debt and liberation from it will be screened.
IslamicFinance.com - Tareq Diwany - Islamic finance expert and Author of the Problem with Interest
Christian Council for Monetary Justice & the Global Justice Movement - Canon Peter Challen - Co-author of Seven steps to justice
Bandung2 Dr.Mustafa Ali - Critical theorist of Western Imperialism and racism in Britain.
Sajjad Khan - Editor of New Civilisation
Forum for Stable Currencies - Sabine McNeill - Monetary reformer
Global Vision 2000 - Dr.Muhammad Ahsan - Author of Globalisation or Recolonisation of the Muslim world
International Islamic reformer David Pidcock - ex head of Islamic Party of GB - Author of the Road to Serfdom
Open Capital Chris Cook - ex director of the London International Petroleum Exchange
Movement for the Abolition of War Chairman - Dr. Tony Kempster - Campaign Against Arms Trade
TGL.tv Peter Forrest

£10 attendance fee
Abrar House,
45 Crawford Place, London WIH 1LP - click for STREETMAP
(neaerst tube stations, Edgware Road, or Paddington)
For further information contact 07818 082011 or myaseen@globalvision2000.com

 

GLOBAL VISION 2000 LINKUP
January 2008
Eid Mubarak and New Year Greetings

Dear Global Visionaries,
 
This is the year when the global economy has been plunged full steam ahead into uncharted turbulent waters. The situation is similar to a crash which has occurred with the driver having hit something big and nasty but there is a delay before the driver who doesn't even have a seatbelt goes flying through the window. The banks have collapsed and they are bankrupt and are in denial due to the vested interests of bankers and economists. The secular democratic neoliberal order is resorting to economic cannibalism. In this crisis there is an urgent need for the demystification of money and terminology and the false science of economics exposing the false religion of economics disguised as a science. We may have  no other choice but to imitate Jesus chasing the Moneylenders from the Temple in earlier times. The religion of the day is the Free Market and Market economy which needs exposure. The situation we are in resembles the Middle Ages wherein the Priesthood spoke a language namely Latin which though the ordinary people could not understand was the medium through which eternal salvation and damnation was pronounced. Now what we have is the enthronement of an Financial Priesthood which has made Economics,the Market and Homo Economicus are Mammon which we all need to worship and be prepared to be sacrificed.

We are at the start of a financial tsunami heading for the perfect storm of a housing bubble, credit bubble and the decline of the imperial dollar. The subprime mortgage crisis merges into a "credit crunch," which itself merges into a solvency crisis of the international banking system. Central banks initially stressed asserting market discipline and letting speculators take their losses are now backing bailouts to keep the whole system afloat.

The illusion of a successful free market economy has depended upon the accumulation of vast amounts of debt, with households, businesses, governments, and financial markets all depending upon debt. The ability to finance that debt depended in turn upon the ability of the banks to turn loans into securities that could be sold to speculators, moving the loans off the banks' balance sheets to the investment community.  The end of securitization will wreak havoc with the ability of the economy to finance itself with debt. The collapse will devour into the balance sheets of the commercial banks, the investment banks, the insurance companies and other financial institutions and the lives of people.

This has led to the dollar nosediving and despite 750 billions injected by Central banks is leading to a hyperinflationary situation like 1923 in the Weimar Republic in Germany and run on the banks. This isn't just a credit crunch but a bankruptcy crisis. As shown by the bailouts of commercial banks by the Central Banks. Bankers are frantically trying to waken a dead system which died in the summer. The banks are bankrupt. The banks are admitting to writing off billions of debt in the form of toxic waste and junk paper. Leveraged lending is discredited as there is unsalable financial paper and noone trusts anyone over whether loans can be paid back. Investor banks are being investigated such as Goldman Sachs, Merrill Lynch, Deutsche Bank, Morgan Stanley and Bear Sterns on whether they sold risky mortgage backed securities to investors globally in bad faith. The greatest casino economy established by Greenspan is over and out. The bubble is now going inwards and this artificial economy will impact on the real economy.

The situation we find ourselves in is complex as peeling the skin of an onion. There are layers of history underpinning this crisis. The Kondratieff cycle occurring every 60 years is on the horizon. Since 1987 printing money was injected into the economy under Greenspan which was intensified after the dotcom bubble in 2002-2007.  Since 1987's deregulation there has been the development of volatile financial instruments such as credit derivatives, derivative futures and collaterallised debt obligations, SIVs. In which reselling debt is new and leading to casino capitalism. The saturation point of debt and leverage has arrived. The US is buoyed on 10 trillions of borrowed money which has created an unfortunate sense of prosperity. Prior to this was the dollar's move from the Gold Standard and Fixed exchange to the floating exchange in 1971 and the rise of the petrodollar i.e. the use of the dollar peg for oil trading. Since 1963 with the assassination of JFK there has been a criminal mafia in control of the USA. Underpinning this was the Breton Woods agreement in 1944 which established the dollar as the Universal reserve currency. Underlying this is the establishment by a criminal mafia since 1913 of the US Federal Reserve Bank which means that under the regime of the world's all powerful central banking system money has been brought into existence as debt bearing loans with Fractional reserve banking and fiat money. This racket needs massive exposure fast. The origins can be pinned back to 1694 with the establishment of the Bank of England in the city of London.

It is in this context that the Bush administration has engineered wars to corner the global oil trade in Iraq and Iran which is to forestall the demise of the dollar as the world's reserve currency. The US dollar hegemony is being maintained so that fiat money is traded for precious resources. Bush wars are about retaining the dollar as the premier world trading currency which requires the physical control of oil resources. The dollar is a fiat currency monopolising the trading of oil.  9/11(An inside job)  and oil resource wars(illegal and unjust wars) actually signal the economic weakness of the USA. The American strategy is to retain the hegemonic dollar system by the military control of Eurasia.  It needs to be noted that the 1944 Breton Woods was broken in 1971 when the dollar peg to the gold standard was broken. This was when the dollar was not fixed to gold but the printing press of the Treasury/ US FRB. The Imperial dollar is a political currency. The powerful financial elite realised that they could have more global influence via debt but that oil needed to be traded in dollars. Given countries need for dollar reserves US Fed/Treasury knew that more US debt will be bought to retain global financial stability. ie. the debts of the USA are the assets of the rest of the world which is the basis of their credit system.

It is only now a question of time before it loses it's status as the world's reserve currency. The oversupply of dollars is due to budget and trade deficits created by the offsourcing practices of US corporations has converted US GDP into US imports. There has been a consumer focussed growth strategy with low interest rates on debt and on a transfer of ownership of assets. The US has been living beyond it's means with consumption greater than production and foreign ownership. Cheap money followed by injecting new money will lead to inflation. Devaluation of dollars will increase trade deficits leading to falling living standards. The US financing wars(debt) and cheap money(debt) has led to oil price rises and has made the dollar peg to oil difficult to sustain.  

The OPEC countries can not adopt the monetary policies of a reserve currency. Kuwait broke off the dollar and GCC States will break off the dollar to control inflation. Indeed the Iranian Oil Bourse is now scheduled to be officially launched in February 2008 to coincide with the 29th anniversary celebrations of the Islamic Revolution. It will trade oil, gas and petrochemicals in nondollar currencies. The peg to the dollar will break and oil trading will be pegged to a basket of curencies and oil will not be priced in dollars. Also Wahabbi scholars in Saudi Arabia have issued what amounts to be a fatwa against the dollar which the Saud ruling dynasty needs to heed seriously. There will also be divestment from dollar denominated holdings by sovereign wealth funds.It appears that the dollar will end up in the fiat currency graveyard. It has not been backed up by gold/silver since 1971 which has led to fiscal monetary crises. The arrogance of dominance has led to the current predicament in the collapse of the dollar.

It is clear now that the IMF, World Bank and the Federal Reserve are colluding to impose a stranglehold over the world economy and how the subprime mortgage and credit crisis is simply a means by which the global elite can bankrupt and seize America. The globalists manufactured the fake fiat money system to create artificial bubbles which were then popped so the elite could consolidate wealth,collect and own the tangible infrastructure of the world.

We are indeed at the end of history mentioned by Francis Fukuyama but the end of history will be marked not by the triumph of capitalism. The financier class's accumulated purely fictitious financial gains from predatory speculation are collapsing mimicking the experience of Weimar Germany in 1923. The predatory power of the financial elite has to be defeated via a coalition of powerful nation states and monetary reformers.
 

The real battle is between those who know the system is gone, and want to decide the nature of its replacement. On the one side are the forces which place welfare and interests of the people who want to put the financial system through bankruptcy, putting up firewalls to protect the general welfare of the citizenry, stopping home foreclosures and freezing the mass of financial claims until the wheat can be separated from the chaff. The speculative claims and fictitious values can be written off over time, while the elements necessary to protect the proper functioning of the economy can be protected, and the economy rebuilt. On the other side are the forces of the international financial oligarchy, organized around the Anglo-Dutch rentier-financier model. Their intent is to use the crisis to destroy the power of the nation-states and to restore the power of the empires, in a world dominated by imperial financiers and their trading cartels. To this crowd, people are but expendable peasants, little more than herds of cattle to be managed, sometimes slaughtered. What motivates the oligarchy is power, the ability to rule the world for the benefit of a small ruling class. In their view, the nation-states, in particular the historic United States, usurped their power, and they intend to reclaim it. They have, in fact, already made large steps in that direction.
 

This is a political fight rather than a financial one. The financial system is already gone and cannot be resurrected, and there are no serious attempts to do so. The moves by the central banks and the regulators are not intended to bring back the bubble, but rather to attempt to control its disintegration and buy the time to establish the replacement system. The money is already gone. London became the financial center of the new derivatives game. The City positioned itself as the casino, profitting from the gambling of others and, through its network of offshore centers like the Cayman Islands, it lured its rivals into the trap. Murdoch's launching of the Fox Business channel and the Wall Street Journal provide the City with a platform to undermine the credibility of U.S. institutions.

 Pending which party wins the world would descend into a fascist nightmare: Governments stripped of what little remains of their abilities to protect their populations from imperial looting, corporate cartels gouging populations in an age of austerity, population reduction, and utter chaos—with the City of London ruling over whatever pile of rubble is left.There is another option or PLAN B wherein the security and prosperity partnership could be the cover for a North American Union with an unified currency called the Amero created by the shadowy globalists such as the Bilderbergers, Trilateral Commission and CFR. This is another building block in their plans for a World Government. This agenda will be fully exposed soon in another editorial.

 Having painted an impending picture of doom and gloom Global Vision 2000 remains available to render it's services to the restructuring of the new global financial architecture for the 21st century which works for ALL. The crisis exposed is a threat and an opportunity.
Solutions

Freeze everything and have a Bankruptcy re-organisation here all Central Banks are brought under control of the National sovereign government. The present world monetary system must be placed under the status of bankruptcy reorganisation given the bankruptcy of the US FRB and a New Breton Woods Agreement to restructure the global financial architecture.  
All central banking systems independent of sovereign

Governments are placed under sovereign powers of Constitutional government. FRB no longer as a bank of issue.
Banning of bank credit and the cancellation of debt.
Moeen Yaseen
Managing Director
Global Vision 2000

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