Issue #64
Jim Willie CB, 
“the Golden Jackass”
15 July 2009

"People who want to dine with the devil need a spoon with a very long handle."” – anonymous HTL subscriber

"We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order." – David Rockefeller (global megalomaniac)

◄$$ AN IMPORTANT LAWSUIT AGAINST W.H.O. AND U.N. OVER SWINE FLU  SHOULD BUT DOES NOT CAPTURE MEDIA ATTENTION $$$. This case is worth watching. The backdrop is a planned July release date approaches for A/H1N1 flu pandemic vaccine by Baxter Lab. An Austrian investigative journalist named Jane Burgermeister is trying to warn the world that the greatest crime in the history of humanity is underway, a designed mass genocide. Burgermeister has filed criminal charges with the FBI against the World Health Organization (WHO), the United Nations (UN), and several high ranking government and corporate officials. She makes charges of  conspiracy to commit bioterrorism and mass murder. She has prepared a formal injunction against forced vaccination to be filed in the United States. These actions follow other charges filed by her in April against Baxter Labs and Avir Green Hills Biotechnology, both of Austria, for producing contaminated avian flu vaccine, where she alleged deliberate acts were taken to cause a global influenza outbreak that profits from a pandemic.

The complete dossier of the June 10th complaint is a 69-page document presenting evidence to substantiate all charges, a very thorough accusation. This includes: a) time lines and incidents, b) formal definition of Swine Flu as bio-weapons with government classification and restriction of vaccines, c) the unnatural genetically designed nature of Swine Flu from laboratories to mimic the Spanish virus of 1918, d) deliberate virus release in Mexico City after President Obama was already vaccinated, e) role of Baxter and the WHO in its production and release, f) role of Baxter, Novartis, National Microbiology Lab of Canada, NIBSC of the United Kingdom, and the Center for Disease Control in the US in covert bio-weapons networked research with planned virus contamination of vaccines, g) manipulation of disease data by the WHO with motive to declare pandemics, h) cover-up role by the FDA inside the United States, i) potential role of Tamiflu and Relenza in increasing human susceptibility, j) alteration of legal frameworks to offer impunity to pharmaceutical vaccine makers, k) description of crime syndicates involved such as the Illuminati, l) depopulation agenda of the Illuminati & Bilderbergs, and m) direct references to the annual Bilderberg meeting in Athens from May 14-17 of this year and completed agenda that covered genocide and genetic superiority. See the Global Research article (CLICK HERE) or the Totality of Being article (CLICK HERE). This is the movement that Michael Jackson was on course to support with million$ in funds. Not anymore!

This harkens back to Nazi claims under Hitler and racial superiority. The theme seems to have been revived. So Obama was vaccinated before his March trip to Mexico City. That was the origin of the Swine Flu in my view, quite obviously. It is utterly amazing how a US President visits Mexico City, a Swine Flu outbreak occurs immediately, yet the sequence led to almost zero suspicion of connection. In my opinion, pure speculation on my part, a small percentage of vaccines will likely contain actual viruses to further the seeding process. The compulsory broad vaccination is likely intended to weaken human defense systems for the main events later. Those who refuse vaccination will likely be imprisoned in special FEMA camps, where execution will be permitted by law. Enough!

Burgermeister is living on the edge. In my opinion, she might be soon killed with an ‘accidental’ death or arrested on trumped up charges (like child pornography on her personal computer), so as to put an end to the publicity she has generated. The influenza architects are so bold and arrogant as not to care about opposition. They figure that nothing can stop them, and they might be correct tragically. A hidden war has begun, and we will hear only nuggets about it. One must wonder how many hidden murders are required to enable a virus dissemination.

One might wonder why any exclusive secretive powerful supra-national group would choose to plot and execute a mass global murder with the primary target being the United States. What follows is just my opinion, pure speculation of genocide motives with deadly viruses, in order of credibility, high to low. A) The Wall Street banks are guilty of a decade of extreme bond fraud, following at least two decades of manipulative control of the investment arena. They have proved themselves to be parasites turned cancerous, having depleted much of the population’s wealth. They might wish to kill off the population before the Tea Parties turn into lynching parties directed against bankers. B) The US as a nation is bankrupt (federal, banks, housing, jobs). With industry abandoned, the US has no hope of recovery. Ridding the nation of its indebted people might be desired, rather than dealing with a broken people and their genuine needs. C) The United States is unique among manjor developed nations, in that it has no thousand year old indigenous aristocratic class to defend it. The aristocrats were either imported or hired from Old Europe one century ago. The US is now vulnerable to the worst type of exploitation after its empire has run its course. D) Limited global resources make for extreme challenges in coming years. Shortages can be eliminated by reduction of demand, which would come from smaller populations. E) Retained US-UK control might be possible only by means of changing the chessboard game, since the last game was lost. With pharmaceutical expertise, the vaccine makers will rule. F) Absolute control might be the desired goal, with no further circus of leaders elected by the people. Martial law takes over during epidemic times. Enemies, malcontents, and riff-raff can be killed legally under such a new legal system. G) Revenge for the World War II interruption of ethnic cleansing might be desired. Those involved have a curious lineage from the Nazis traced to the Hitler crowd. While poison gas was the chosen killing agent in the 1940 decade, designer viruses seem the choice today, fashioned after the most lethal virus in over a century in the Spanish influenza of the 1910 decade. H) China might have cut some deal, perhaps offering itself as the initial proving ground of the avian and swine flu viruses. The deal could have been to take control of the USGovt debt until a default occurred, then to claim the land in settlements of debts after a segment of the American population is removed. China needs the fertile farmland of the United States in order to feed its own population. Then Old Europe and China can share world control in the future. China would not mind cutting its population in half. I) The overweight and heavily medicated US population is simply ready for the slaughterhouse.

◄$$ THE DEATH OF MICHAEL JACKSON HAS A POSSIBLE MOTIVE FOR HIS MURDER BY PANDEMIC INFLUENZA ARCHITECTS $$$. Jackson planned to warn the world about the planned release of killer influenza, a genocide event. He was on a noble personal mission that was suddenly curtailed. My personal feelings toward the music icon are very mixed, and matter not at all to anyone. Great rhythmic rock music that will live forever, just like Elvis Presley. But MJ was beyond weird and his legal challenges on juvenile abuse turned many people to disgust. David Icke is an intrepid analyst reporter who uncovers many unusual items, many of which cannot be easily dismissed. He wrote, “To the reason behind the CIA needing to assassinate Michael Jackson, these reports continue, was an out of court settlement the pop icon signed with son of the king of Bahrain, Sheikh Abdullah bin Hamad al-Khalifa, this past November in London, and which stated, in part, that in exchange for millions of dollars previously lent to Mr Jackson by the Sheikh, Mr Jackson would allow his sold-out United Kingdom concerts to be a ‘platform’ for warning the world of a soon to occur mass genocide event. Both Michael Jackson and Sheikh Abdullah bin Hamad al-Khalifa have been long standing supporters of the fearless Austrian investigative journalist, Jane Burgermeister, who is warning the world that the greatest crime in the history of humanity is underway.” The loan settlement mentioned was merely an unconventional debt satisfaction, not a lawsuit.

Some odd and not too credible methods are mentioned by Icke that involve electro magnetic pulse weapons used to induce heart attacks. Then why did nobody else in the vicinity suffer a heart problem or any nervous system incident? Having a doctor in the house assisting with the accidental death would be much simpler, if a hidden murder was the path. If no consequences come to Jackson’s private doctor in the next couple months, even though an intravenous narcotic addiction was being fed by a licensed physician, then additional evidence exists to shove it under the carpet. Perhaps his demerol narcotic addition combined with his xanex tranquilizer addition did lead to gradual cardiac weakness and eventual sudden death. MJ feared an exit much like that of Elvis, and suffered it. As to the question of murder, my personal view is very unsure. But hear this: there are almost never any multi-million$ coincidences! Personal trainer Lou Ferigno (of “Hulk” television show fame) in March resigned as the MJ trainer in preparation of the London shows. He departed after warning MJ in dire serious tone that his drug addiction put his life at risk, in particular his heart. He called the almost daily drug abuse a ‘very dangerous mix’ in his words. How true! See the full article (CLICK HERE).

◄$$ ISRAEL EAGERLY ANTICIPATES LAUNCHING POSSIBLE CYBER ATTACKS ON IRAN, BUT BACKFIRES ARE POSSIBLE $$$. Reuters reports that Israel is actively planning for attacks, while Iran plans for their defense. The apparent method of choice is cyber attacks. Recall in 2005 that numerous seabed communication cables were cut that connected Iran. They disrupted telephone and internet lines. Israel and the United States were the primary suspects. Given the unlikely path to open war, the Israelis see the need to continue with old methods of opportunity. Israeli sources cite the limited feasibility of conventional air strikes on the distant and fortified Iranian nuclear facilities, and US reluctance to sponsor another open war in the Middle East. A recently retired Israeli security cabinet member made reference to the Iranian digital networks, implying cyber attacks. He said, “We came to the conclusion that, for our purposes, a key Iranian vulnerability is in its on-line information. We have acted accordingly.” See the Reuters article (CLICK HERE).

A contact from within the European upper echelons made this surprising comment. He said, “Every cyber expert knows that these ‘attacks’ can backfire big time, as they do in 90% of all instances. The incoming ‘ray’ can easily be utilized to send a ‘return’ message with devastating consequences. NATO just learned this lesson in Georgia when the Russians downloaded the entire NATO mainframe within on hour, including all core data, passwords and usernames. NATO is still busy fixing the damage, which has so far cost them nearly one billion euros. Welcome to the real world.” Wow! Talk about a counter-punch! It is much like using a rope to pull an enemy. The same rope can pull back. Or setting up an umbilical cord to deliver poison. The same tube can return a different toxin. The same source mentioned that in the visit to the Kremlin last week, President Obama was clearly told what the immediate consequences would be to the US Naval Fleet in the Persian Gulf if Iran were attacked, sudden anihilation. Direct destruction of US naval vessels has been the primary reason why no attack on Iran has occurred in the last five years, despite all the threatening saber rattling and aggressive talk. The US vessels sit like ducks on a pond for advanced Russian Sunburn and Onyx missiles installed long ago. The USMilitary high brass are well aware. These missiles are one generation more advanced than the US Cruise missile. See the YouTube video where the Russian delegation refused to shake Obama’s hand in the Kremlin, but instead reached for the hand of their own Medvedev (CLICK HERE).

◄$$ CELENTE WARNS OF U.S. DESCENT INTO THIRD WORLD $$$. Gerald Celente of the Trends Research Institute is a sage with a great track record. He asks “Why do Americans tend to turn to those who missed most of the major crises in the last two years, and listen to their words on what might happen next?” He has spoken on interviews numerous times in recent months. Here are some of his updated thoughts. In 2009, we will see a collapse of the retail sector in a second phase with numerous large chain closures. The commercial real estate sector was grossly overbuilt, and next it will collapse, leaving scattered properties empty without tenants. The commercial RE decline will dwarf the 2007-2008 residential RE decline in a surprise unfolding. What comes will be much worse than 1929, a Greater Depression with more violence. The nation does not have the manufacturing base, nor the lack of debt burden that existed in 1929, so the outcome will be worse. In the next five years, the United States will slide into a violent place much like the nastiest of Third World locations. He expects New York City will in time resemble Mexico City, as kidnap targets are taken for ransom. He expects major US cities to resemble Calcutta India with scattered homeless, panhandlers, hookers, and petty thieves.

Violence will grow out of control, as people who lost almost everything will fear little, having nothing more to lose. He expects a Tax Revolt to begin soon and take root, then to flourish. Celente implicitly criticized the baseless support for Obama, as he calls people ‘hopeful, desperate, and fearful’ in ways that can easily turn sour. Lastly, he sharply criticized USGovt efforts. The USGovt leaders lack the intelligence, experience, and methodology in order to achieve any recovery whatsoever. They rely heavily upon spending from printed money and new debt. The printed money is based upon nothing! He believes firmly that the nation must PRODUCE its way with growth in order to exit the crisis, not SPEND from a tainted pot. You cannot print money to exit the crisis any more than to print into prosperity, a lesson still not learned on either end of the crisis. He stresses alternative energy and any new initiative like the internet revolution of the 1990 decade that results in greater production capacity. Only with an expanded industrial base can jobs be created that invent, design, build, market, and service new products. See the YouTube video clip (CLICK HERE).

◄$$ CHALMERS JOHNSON WARNS ABOUT THE HIGH COSTS OF THE USMILITARY EMPIRE $$$. Chalmers Johnson is a fearless veteran of geopolitical battles, is 78 years old, and is the author of a powerful series of books on the demise of the American Empire. He wrote The Blowback Trilogy: “Blowback” (2000), “The Sorrows of Empire” (2004), and “Nemesis” (2006). He has new comments on the US Empire of military bases and embassies, whose cost is now $102 billion per year. On May 27th, the State Dept announced it will build a new embassy fortress in Islamabad Pakistan at a cost of $736 million. That would rank as the second most costly embassy in existence, barely less than the Iraq Embassy, whose size rivals the Vatican City. The State Dept also was planning to acquire the luxury Pearl Continental Hotel in Peshawar near the border with Afghanistan, for use as a consulate and staff living quarters. The hotel and swimming pool country club had plans derailed on June 9th when Pakistani militants rammed a truck loaded with explosives into the hotel, killing many and forcing a collapse of an entire wing.

Johnson accuses the USGovt of using the embassy as cover. Neither the Iraq nor Pakistan embassies serves as a true embassy, in which people come for visas, US citizens fulfill passport tasks, and American officials represent the commercial and diplomatic interests of their country. Instead he wrote, “These so-called embassies will actually be walled compounds, akin to medieval fortresses, where American spies, soldiers, intelligence officials, and diplomats try to keep an eye on hostile populations in a region at war. One can predict with certainty that they will house a large contingent of Marines and include roof-top helicopter pads for quick get-aways.” Militants who wish to attack the US are certain to find such embassy fortresses, heavily guarded, as easy targets. See the Green Zone in Baghdad Iraq and its countless attacks.

The USMilitary maintains 800 bases dotted across the globe at tremendous cost. While the USCongress and the Obama Admin deliberate over new spending programs, it seems nobody has the sense to consider the shutdown of some of what Johnson calls ‘these unpopular expensive imperial enclaves.’ Just the opposite. The nation of Kyrgyzstan has planned to kick out the USMilitary from its Manas Air Base in February 2009. It is an important air base for staging the Afghan War. After the annual rent paid for usage of the base triples from $17.4 million to $60 million, the tiny nation will permit the US to remain. Besides, million$ more will be devoted to promised improvements in airport facilities and other financial sweeteners. The Obama Admin is deeply committed to a wider war in the region, and is convinced it needs this base to store and ship supplies to Afghanistan. The increased rent will be easily covered by narcotics profits. The billboard message is clear. The USMilitary is willing to pay more rent, like in Ecuador where they told the Americans to depart the Manta Air Base by this November. Despite their resentment of US soldiers maneuvering in Colombia and Peru, they could use more cash, and the US narcotics profits can easily divert some funds their way. The Japanese have a more queer deal. They actually pay for the USMilitary to occupy Okinawa. A deal has been struck for transferring some US sentries to Guam, but at heavy expense to Japan. Maybe Tokyo will soon show a spine and stop payments.

Chalmers Johnson advises foreign host nations to order the American military presence out, or to force much higher rent payments. He is convinced the US Empire of Bases will soon enough bankrupt the nation, a parallel to the financial pyramid schemes. The United States is bleeding badly from its financial veins, and can ill afford monumental costs from an archipelago of military bases overseas. Seeing the over-reach, the Chinese and other creditor nations for USGovt debt might be cashing in on their USTreasury Bonds. He believes “Hanging onto our military empire and all the bases that go with it will ultimately spell the end of the United States as we know it. Count on this, future generations of Americans traveling abroad decades from now will not find the landscape dotted with near-billion-dollar embassies.” See the Tom Dispatch article (CLICK HERE).

◄$$ HIGH RANKING USMILITARY RETIRED GENERAL STUBBLEBINE DISPUTES THE SILLY 911 OFFICIAL STORY FROM THE USGOVT $$$. Major General Albert Stubblebine had his last command as head of all Army Strategic Intelligence worldwide. Note his comments about the ridiculous story of an airplane hitting the Pentagon, a story he mocks openly. He disputes by simply pointing out that the 5000-lb engines would have left a mark on the Pentagon building facades, something that receives little discussion. Even if an aircraft wing struck the ground first, and tipped the aircraft from a flat position, one engine would have made impact with the building at a higher point. No such thing happened, as a missile hit the Pentagon. Imagine a commercial aircraft that evaporated and incinerated without any debris, utterly absurd. Imagine a fuselage incinerated and vaporized, but not the plastic-lined driver licenses from the three supposed Islamic pilots. Stubblebine should be careful, since he might lose his pension after being declared a terrorist. This entire story is an insult to our intelligence. See the YouTube video clip (CLICK HERE).

No need to expound too much on my views regarding the 911 False Flag attack on the Pentagon and World Trade Center. A quick summary will do. Fully 50% of Americans call it an inside job, but only 12% believe the WTC collapse was a demolition project, still relatively clueless. Basic understanding of high school chemistry and physics would lead to over 90% comprehension and suspicion (see gravity and melting point of structural steel). A missile hit the Pentagon precisely at the Army Accounting office location, which was soon to publish a report on $2.3 trillion in missing funds over two decades. The World Trade Center event on 911 was the biggest bank heist in US history, yet unrecognized officially in annals. The theft of $100 billion in gold bullion from basement vaults, along with $100 billion in USTreasury bearer bonds, and $100 billion in diamonds was truly significant. Information sources of mine are as numerous as they are independent, all consistent in the stories. The entire 911 events enabled the launch of an Iraq War to establish a military foundation in the Middle East, to motivate enormous defense contracts, to confiscate Iraqi oil to assure military oil supply, and to enable vast service contractor funds to flow for gigantic fraud and theft. Recall that $50 billion is still missing, not even being searched for, in the Iraqi Reconstruction Fund managed by the Bush II Admin. Mission Accomplished! Last was the biggest benefit of all: the capture of the Afghan narcotics prize by the CIA. That permitted the CIA to control over 80% of the global narcotics trade, whose clearinghouse is the Bank of Baghdad, managed by JPMorgan. The US Federal Reserve is well aware of the money laundering operations that reach Wall Street banks.

◄$$ QUICK UPDATE ON THE ITALIAN-SWISS $135 BILLION PASSAGE OF BEARER BONDS. THE USGOVT PUT OUT A FLIMSY MAFIA STORY, BUT THE BONDS ARE LEGITIMATE. $$$ The bold Benjamin Fulford has produced evidence of legitimacy of the $134.5 billion in bearer bonds of Federal Reserves Note origin. The Japanese (actually Filipinos) men arrested had documents signed by USFed Chairmen, even with handwritten corrections and additions. They carried several documents signed by Alan Greenspan and Ben Bernanke with US Federal Reserve logos and stamps embossed, signed, and witnessed. If a mafia undertaking with forged bonds, why release the two men? Because it was an official backdoor transaction of legitimate nature. The Treasury certificates and are now in the safe hands of a new financial system with some hidden agenda that Fulford speculates toward. He expects resistance from the old Wall Street guard. He claims the cited information above comes from very highly placed sources. See the actual document in good detail (CLICK HERE).

A solid banking (mainstream and bullion) source of information commented on the Fulford claims. The reply was, “The seized Bearer Bonds are real and they will be applied [redeemed]. The United States does not even allow creditors, namely USTBond holders, to convert their debt papers into hard assets. The USGovt has zero intention to honor its debt. The entire US structure is a mega-fraud and Ponzi scheme that will face Madoff reality not before long.” My added point is that some high level entities wanted the USGovt to be unmasked, to start the process, to reveal a prima facie of a vast crime syndicate. Maybe instead a foundation was built for a new syndicate initiative to profit from the new global laws on climate warming, like the Cap & Trade in the United States.

Eric deCarbonnel of Market Skeptics makes many observations concerning the Chiasso Italy seizure of the bearer bonds. He believes even if fake, these bonds still represent a major problem. He cites a conclusion that the bonds are in all likelihood real, since A) The bonds were accompanied by a recent and original bank record. B) Italian authorities reportedly believe the evidence to be authentic. C) The two Japanese arrested in Chiasso were apparently connected to the Japanese government. D) Hal Turner’s strange arrest before he could provided the serial numbers of the seized bonds. E) The type of Treasury Notes which were confiscated was, in fact, issued less than ten years ago (in 1998). The last point directly contradicts a claim made by the USGovt. See the Market Skeptics article (CLICK HERE).

◄$$ AUSTRIAN HAIDER MURDER REVISITED, WITH WIFE SEEMINGLY LEAD DEFENSE $$$. Many irregular facts have arisen, receiving some scrutiny. Small narrow road where such car speeds seem unlikely, insufficient time to absorb so much alcohol, charges of homosexuality without past pattern or identification of a partner, strange markings of the car indicative of movement by construction equipment, and more. See the Times Online article (CLICK HERE). The investigative reporter offers a murder theory over the death of Austrian provincial governor J?Haider. Some powerful political and banking centers wanted him removed. He was removed.

◄$$ DUTCH BANKER MURDERED, CLEARLY A CONTINUATION OF BANK FRAUD COVERUP $$$. The police authorities are not even calling the death suspicious, even after numerous gunshot wounds and gangland style were obvious. Huibert Boumeester of ABN Amro was found murdered in the woods 25 miles (40 kms) west of his London home. The bank was the object of financial takeover, as Edinburgh-based Royal Bank of Scotland, together with partners Banco Santander Spain, and Fortis of the Benelux nations, broke ABN Amro into pieces. Suicides have entered the newspaper columns in the last several months. German billionaire Adolf Merckle allegedly stepped in front of a train in January. David Kellerman, CFO of Freddie Mac, allegedly hanged himself in April (an obvious murder). Icon UK investor Kirk Stephenson allegedly also stepped in front of a train last September. Anyone who believes the official stories is a fool, na?, gullible, and believes in fairy tales. Boumeester was depressed, did not return phone calls, turned off his cell phone, and had distanced himself. This is the official byline. See the Bloomberg story (CLICK HERE). The easy conclusion is that bankers are being killed in serial fashion, with some hidden agenda, undoubtedly to keep criminal activity hidden. They know too much about $trillion flows. They know the details of where funds flowed and are hidden. They can provide names. So the middle level bankers, like executives at midsized banks, are being removed. Lower level bankers know next to nothing. One need not be concerned whether the dead bankers are on the good side or bad side in the billionaire wars, the Dark Templars versus the White Templars. The message is cover-up of gigantic crimes.

◄$$ THE OPEN WARFARE OF USGOVT VS SWISS BANKS HAS A HIDDEN UGLY SIDE $$$. The Swiss Govt intends to seize UBS client data so as to prevent any handover of information to demanding US authorities. Their government officials would forbid the Union Bank of Switzerland from complying with any court ordered transfer of data on tens of thousands of American clients to the USGovt, in an attempted data heist, as Swiss law has been cited in defense. The posturing was the most firm in the battle with the US Justice Dept over the identities of more than 50 thousand American clients at UBS. At issue is suspected tax evasion that comprises a drop in the bucket compared to Wall Street welfare projects. The USGovt claims recruitment of wealthy US accounts in systematic and deliberate fashion, and an assumption of tax evasion motive. The judge in Miami claims USB had earned over $100 million in fees but cost the USGovt hundreds of million$ in unpaid taxes. A settlement could result in the UBS paying the USGovt a fine or compensation for lost taxes. In February, UBS paid a $780 million fine and provided US officials the names and data of 250 individuals. They regret the move and will not repeat it. The UBS case is part of a diverse intitiave by the IRS tax agency to reveal secret accounts by American citizens in banks around the world. See the Yahoo Finance article (CLICK HERE). A titanic battle for global bank control is underway. The established Old Europe faction is pitted against the failed US-UK gang that brought its own house down upon itself with insane financial leverage, artificially cheap money, and bribed false ratings. Bigger stakes lie behind the curtains, with stolen hoards and Vatican gold in the mix.

An intrepid inquisitive colleague asked “Why doesn’t UBS shift all of its bad assets to its US subsidiary, leave the US and let the judge seize its US subsidiary?” To which, a contact from inside the Swiss-German banking community replied, “UBS has already done that. The Swiss Govt is not going to roll over. Luxembourg just got its way with the behind the scene cover and support from Berlin. The US courts and Govt are in for a series of very rude surprises. People are sick and tired of the unmitigated and primitive arrogance demonstrated by the US institutions.” Then the Jackass inquired if somehow the highly public US-Swiss bank battle was the visible portion of a bigger battle that involved hundreds of billion$ being fought over, if not amounts running into the trillion$. My question was “I suspect the Wanta money is somehow tied up in this UBS vs USGovt conflict. Much much more exists than meets the eye.” To which the same Swiss-German contact replied (to my surprise, since the Wanta query was a stretch), “Wanta money is involved. If the big European banks jointly go against the USGovt, there would be mass arrests of USGovt individuals in the United States and elsewhere. These clowns at the US Justice Dept either do not know, or certain people in the US want to push the envelope to see how far they can stretch this issue. The Americans do not know that they already have lost not only the battle but also the war.

◄$$ GLOBAL EUROPEAN ANTICIPATION BULLETIN FROM THE EURO/2020 EXPERTS IN PARIS WARNS OF EXTREME ECONOMIC AND FINANCIAL BREAKDOWN IN THE UNITED STATES & ENGLAND BEFORE AUTUMN $$$. This is not a lightweight group of analysts. Their work for the last 5 to 6 years has expertly forewarned of numerous major breakdown developments that occurred. The GEAB analysts foresee on the horizon three destructive waves to hit both the United States and United Kingdom. They will contain both economic and social elements that converge in the summer 2009, resulting in climax in the current crisis by the end of summer 2009. They expect major changes to occur not so much in response, but as effect of destructive events. The principal damage will stem from magnificent debt default events in the US and UK. They outline the three waves, in their words. 1) Wave of massive unemployment: three different dates of impact occurring to the countries in America, Europe, Asia, the Middle East, and Africa. 2) Wave of serial corporate bankruptcies: companies, banks, housing, states, counties, towns. 3) Wave of terminal crisis for the USDollar, USTreasury Bond, Great Britain Pound, and the return of inflation.

The GEAB regards the global monetary system to be in a process of disintegration. They see the Russians and Chinese having taken advanced defensive positions for a post-USDollar era. Corporate layoffs continue, with somewhat abandoned hope of economic recovery. The majority of the fifty US states are struggling under debt burdens. Rescued banks will begin soon to falter and fail by summer end, even after conning the investment community into handing over capital for trash using phony balance sheets. They point to the continents of North America, Europe, Asia, and Africa, where in the summer 2009 dramatic transition towards chronic impoverishment will occur from job loss and little prospect for new jobs for several years, rendered acute by lost savings in financial assets and pension funds.

GEAB provides a timetable. “According to LEAP/E2020, this general wave of massive unemployment will strike the main regions of the world at three different moments: (a) at the end of summer 2009 in the case of the United States, United Kingdom, Ireland, and Spain; (b) at the end of the fall 2009 in the case of China, South-East Asian countries, Latin America, new European Union member states, Turkey, the Middle East, Africa; (c) in winter 2009/2010 in the case of Eurozone core countries, Denmark, Sweden, and Japan.” They call global trade a ‘highway to hell’ for many Asian export nations who rely upon US, European, and Japanese consumers. The customer base will be mired in unemployment and crippling fears. Latin America will cope better with conditions, but given commodity export dependence, a delayed impact should hit the continent in autumn 2009. The lack of social safety nets will render great harm to the South American middle class, especially in its large cities.

GEAB expects bank failures to dominate most headlines in the United States, United Kingdom, Europe, and Japan by the end of summer 2009. The principal cause will be the unresolved toxic assets on their balance sheets, which they have either been unable or refused to remove and liquidate. The analyst group calls them ‘financial bombs’ that soon explode. A secondary event will be the USFed  and the Bank of England coerced to purchase massive amounts of their own sovereign government bonds. The USDollar and British Pound plummet in response as monetization goes wild. Like a teeter tawter, the Euro, Yuan, and other currencies rise, even the Brazilian Real. Specifically, GEAB concludes the Dollar and related currencies collapse with the Pound Sterling against all the other international currencies. The devaluation many US leaders dream of (to absorb US public deficits and boost exports) thus happens. Moreover they claim to be the victims of those bad Chinese, Russians, etc& thus facilitating the adoption of protectionist measures in an attempt to boost US industry and jobs. Of course, in the course of this process, the purchasing power of US citizens will suddenly be cut in half, but it is not certain that anyone really cares about that in New York and Washington.”

The aftermath is where the structural and political ruin comes afterwards. GEAB expects that President Obama, Treasury Secy Geithner , and USFed Chairmann Bernanke will be compelled to make nationally televised statements about the 30% to 50% loss in the USDollar, and ultimately an admission that the USGovt can no longer repay USTreasury Bond holders. The actual text is likely to be an attempt to restructure the massive USGovt debt. The focus will then turn to a new USDollar, where only short-term maturity USTreasurys debt securities will be honored, in the opinion of GEAB. That is why the Chinese and other large creditor nations have converted long-term USTreasurys to three-month USTNotes. The economic impact of the USDollar and BPound extreme devaluation will be immediate price inflation, and later hyper-inflation. The breakdown of the US-UK currencies is a sequence that Knucklehead Deflationists cannot foresee, let alone factor into their errant forecasts. Since the bulk of US-UK exports are financial and non-strategic, the Anglo price inflation will not be exported to any great extent. They forecast domestic interest rates in the US & UK to exceed 10% in the year 2010. Foreign non-Anglo national economics will see the opposite effect, falling prices. The analyst group expects the Euro to trade between 150 and 160 at the time of the USTreasury default. Afterwards, the Euro should move toward 200 (i.e. $2 per Euro). The Chinese Yuan and Brazilian Real will each rise significantly in the coming extended time period. The flight out of USTreasurys and UKGilts is already underway, planned for acceleration, and in progress. The main doubts among creditor nations is how and when the great selloff occurs. GEAB expects the great selloff to begin by late summer 2009.

My most reliable source of information and developments (with excellent track record displayed last September) agrees with the conclusions in a general sense, despite different sources and access to different data. The person wrote, “It will be multiple flash point around the globe that will trigger the event driven scenario that will be extremely destructive to the entire socio-economic fabric that holds society together for the time being. With the breakdown of governments, order will break down. Go and revisit Hurricane Katrina and New Orleans, then project that onto the entire United States, except for rural pockets in the MidWest and South where well armed citizens will immediately fill the vacuum.”

◄$$ JUGULAR & POINT OF BREAKDOWN REMAINS CLEARLY THE BROKEN US BANKING SYSTEM, WHOSE FRACTURE WILL REACH CLIMAX IN THE NEXT FEW MONTHS $$$. In an effort to clarify the breakpoint, a conversation was elicited with my deepest and most competent source of bank developments (conventional and bullion), whose reliability has been stellar. A few other extremely bright contacts joined for depth, focus, and color. My question to launch the discussion was “Can you point to any specific jugular veins that will pop ? When I think of a systemic blow, I struggle to identify a couple highly likely sites for major damage.” Not without an answer, MrX replied “It will be the writeoffs that banks have to book not before long. There are more than 15 global banks with more than $1 trillion that have gone down the tubes already, never to come back. So their capital base is already negative. Once this sewage hits the sewage plant, all will come crashing down with real system failure.” A steady bright bulb friend from the mining and petroleum industry chimed in, as he said “In my humble opinion this is the eye of the hurricane, with the Plunge Protection Team doing a rig job on the Dow Jones index for distribution purposes [with the public buying in volume]. More debt, a few hundred billion, or a few trillion dollars, jammed into the few remaining big banks where it stays, is NOT a fix for trillions of unpayable debt. Debt based fiat currency systems around the world are all in the same shape. Richebacher called the USA system a total fraud and illusion. Little did he know, or perhaps he did know, the whole world financial system is a fraud and illusion, one giant Ponzi scheme.” 

Bringing in some perspective from World War II from his own experiences, MrX added “It is called Bunker Mentality or Syndrome. Hitler’s last day at his bunker in Berlin in 1945 are a very good example. In the end only a very few refuse and remain in denial of the events unfolding around them. WashingtonDC and its pseudo Elites, as well as their collaborators on Wall Street, are all suffering from this disease. It is tragic and fatal for the United States and its citizens, and comical if one thinks of the events that unfolded on the Titanic when the unsinkable finally sank after all. The US has destroyed the global economy, and many countries around the globe, in its restless search for profits and power under the fraudulent banner of liberty, freedom, and prosperity. All and everything always comes full circle.”

Return to the banks, which have a reality and a fantasy in fierce competition. Another bright bulb friend from the insurance and construction fields wondered, as he said “Given the fraudulent accounting here, I do not see US regulatory bodies causing banks to take large write-downs. If write-downs were mandated, would those instructions come from the Bank For Intl Settlements? Alternatively, my thesis would be that the banks remain ‘profitable’ under the current fraudulent accounting standards, but seize up due to real life cash flow problems. My analogy would be the banksters are putting a fresh coat of paint on a seaside house whose foundation is being eroded by the sea. The house looks very pretty until it suddenly collapses into the sea.” Joining the imagery challenge, MrX replied “I know that the fresh coat of paint does not even stick to the house any longer, let alone the foundation that has been rotting away and is totally gone already. The entire banking industry is nothing but a hologram. The illusion will turn into an utter nightmare” 

The Jackass ends the discussion, with an interpretation of the sea imagery. For a couple years, my focus has been on the principal point of failure, namely housing & mortgages. As long as housing prices continue down, so will bank losses tied closely to mortgage portfolios. When colleagues, clients, friends, and acquaintances say that rescues and low interest rates will work through the system toward a recovery, all in time, my answer is always the same. ALL POLICY ACTIONS TO DATE ARE OFF THE MARK ENTIRELY, SINCE DEBT BASED. THERE IS NO TALK ABOUT REBULDING INDUSTRY, AND RETURNING THE FACTORIES SENT TO CHINA. BESIDES, HOUSING PRICES CONTINUE DOWN DOWN DOWN, AND A WIDER RANGE OF MORTGAGES CONTINUE TO DEFAULT, SURE TO KILL BANKS ENTIRELY. That analysis and conclusion sticks. The next bank losses will render them insolvent and bankrupt when their capital is gone. They replenish with new capital and equity, but the losses come even faster. A huge clash comes between reality and the charade for US banks, that extends even to the US Federal Reserve, which is bloated and busted. Remember the US banks passed the Stress Tests, as recent investors loaded up with $75 billion in bank stocks (secondary issues). The accounting FASB rule changes have many provisions to revert back by yearend. So big further crippling losses will render the US banks as totally defunct. I FULLY ANTICIPATE A SHATTERING OF BANK SYSTEM CONFIDENCE SOON. The mortgages will lead the way into the toilet for the next round of US bank losses, like prime Option ARMs and commercials. By the way, you cannot apply paint on a house that is underwater !!

Dr Richard Ebeling is an economic scholar and researcher from the Von Mises school, who helped recover old lost work by Ludwig Von Mises from a formerly secret KGB archive in Moscow Russia. He said, “The Obama Admin has been and is introducing policies that are delaying or preventing the necessary adjustments to restore a balanced and stable market for future sustainable growth. I will go even further. The policies of the Obama Admin are not merely retarding the market’s adjustment to the post-boom environment. The policies and regulations being implemented by Obama and the Congress are undermining the very existence of a functioning market economy. We are now in a crisis of anti-capitalist policies not seen to this degree in America since the New Deal days of the Franklin Roosevelt Administration in the 1930s. Washington is literally taking over ownership of or control over entire sectors of the economy, by which I mean the automotive and financial markets. Also, their planned regulations over industry in the name of the environment and fighting ‘climate change’ will mean that government will have a directing hand of how virtually every product is produced. Government will dictate with what technologies they are manufatured, and what their finished forms will be as consumer goods that the public will be forced to accept. This will include price and wage controls and caps, regardless of the names and rationales under which it is implemented. We are heading down a road that leads to national socialism. That is, industrial fascism and socialist style redistribution of wealth in the name of social justice.” My view is simpler. Bush II took us down the road to clear fascism. Obama is taking us a short step to the left, into clear communism. The Politburo committees for economic controls are being formed in front of your noses. The system is due soon to experience major shocks as a result of the political structure change, and the fractured banking system, both shaken to extreme disruptions.

◄$$ BANKS CONTINUE TO FAIL, WITH COMMERCIAL MORTGAGE LOSSES IN COMMON, SETTING THE EARLY STAGE FOR CLIMAX $$$. In early July, six Illinois banks, one Texax bank, and one Wyoming bank were shut down and taken into FDIC receivership. All but the Wyoming bank had one thing in common, heavy commercial mortgage exposure and losses. That makes 52 bank failures this year in a rising toll, more than twice the 25 count in 2008. The biggest count comes from Illinois, supposedly the stable heartland, as leveraged mortgage bonds, known as Collateralized Debt Obligations, were blamed. Several Illinois banks had common family ownership and common failed strategy. The state had a painful 10.1% jobless rate in May. In addition to CDOs, the failed banks were plagued by losses on commercial real estate loans. Most of the bank failures have been tied to troubled construction loans, which neither have lenders coming to the rescue nor buyers arriving in this horrible housing market. See the two Bloomberg articles (CLICK HERE1 and HERE2).

The commercial property mortgage market is valued at $3.45 trillion. Its broad breakdown will start to deliver powerful blows to US banks in the next several months. Sales volume is down over 80% in the commercial space from a year ago. Prices are down 40% to 50% from their peak in 2007. Banks simply will not lend to refinance commercial mortgages, which must roll over every few years unlike residential mortgages. That a commercial firm has a high proportion of tenants current on rent is irrelevant when the collection of properties seeking mortgage funding is underwater, owing much more than its value. Major losses come in liquidations. Property Wire is a contributing analyst group. They have notice increased buyer and selling activity in the commercial space, but at much lower price levels. They wrote, “Commercial real estate sales worldwide in the second quarter are expected to be down some 67% from a year earlier, according to research firm Real Capital Analytics, with US volume suffering more, down 83%. The correction in the US commercial real estate market, and even for some of the global markets, is going to be painful for a lot of people, particularly those who bought their properties using liberal amounts of debt financing, the conference heard.” See the NuWire Investor article (CLICK HERE). Thanks to BobO from Kansas for steady flow of great information.

The end of the road has been reached for commercial real estate.  Many regional banks jumped into the commercial real estate market since they had little chance of competing with big subprime and Alt-A mortgage factories like Washington Mutual or Countrywide.  Many regional banks saw this as a way to stay competitive in local regions across the country.  This is a much more diverse problem, wherein the tentacles of the commercial real estate bust will be felt in every state. Some shocking information comes regarding USGovt bailous for a potential $3.5 trillion in Commercial & Industrial loans (C&I), called Plan C. That is the closely guarded plan by the USDept Treasury for pre-emptive commercial loan bailout before disaster strikes. The are deeply underwater without financing mechanisms functioning any longer. This disaster is on the doorstep of the bankers.

MyBudget360 provides details. “These loans were made on strip malls, doctor’s offices, and drive through restaurants for communities that are hurting from the recession. This is an enormous amount of debt that is out there that will surely default, since there is no way to refinance this debt as many of these projects are literally underwater. Take a look at the composition of over 8000 banks and thrifts across the country. Factoring in construction and commercial loans, you arrive at a stunning 26% of all loans in FDIC banks and thrifts. This is a staggering figure and the USTreasury is well aware of this. The question isn’t whether there will be major defaults here, but who will shoulder the cost? So far, each consecutive bailout has largely been taken up by the US taxpayer. The problem of course is the cost of all these bailouts will eventually catch up through a tanking dollar and possibly the long-term viability of our economy. Plan C is a preemptive bailout on an entire industry. The reason the government is devising a plan is that these loans will start going bad in large amounts, and they are gearing up on a process of dumping this large mess on the American people. Yet it is going to be a politically hard sell for many to bailout a strip-mall from some large developer. And make no mistake, the market for commercial loans is all but closed. In the 1st quarter commercial loans fell by a stunning 50% on a quarterly basis. And the amount of bad loans is only growing.” It is inconceivable that the disorganized USGovt steeped in denial can possibly pull off a $3.5 trillion pre-emptive bailout. See the MyBudget360 article (CLICK HERE).

The financial sector wrecking ball continues to hit England, with Lloyds Banking Group poised by announce gigantic losses. Chairman Sir Victor Blank might be hobbled in replacing capital, due to his former employment at Citigroup. Backed by UKGovt guarantees, Lloyds will soon write off up to £13 billion on its commercial property loans, business loans, and mortgages. The writeoffs for the first six months in 2009 would match the losses recorded by Lloyds and HBOS in 2008, as they made final their nightmare merger. The expected charge taken is twice what Lloyds paid for HBOS last autumn. Total writeoffs for this year at Lloyds could surpass £20 billion. The European Union leadership at the Competition Commission has threatened a breakup of bank conglomerates, motivated in part by the UKGovt tendency to endlessly pump funds into rescues, bailouts, and nationalizations. See the Times Online article (CLICK HERE).


Harry Schultz is a veteran newsletter writer (Harry Schultz Letter) and expert analyst, whose reputation is beyond reproach. He wrote in his June newsletter a preface to a surprise event of magnificent magnitude and importance, with only one precedent in US history. He wrote, “Some US embassies worldwide are being advised to purchase massive amounts of local currencies, enough to last them a year. Some embassies are being sent enormous amounts of US$ cash to purchase currencies from those governments, quietly, but not £’s [British Pounds]. Inside the State Dept there is a sense of sadness and foreboding that ‘something’ is about to happen, unknown as to a date, within 180 days, but could be 120-150 days.” Notice the USDollar and British Pound are grouped together, both to become unavailable.

Schultz continues with more detail, some speculation, and advice. He refers to Franklin D Roosevelt, who imposed the last bank holiday at the end of the Great Depression. Schultz wrote, “My HSL suspicion is that the Elite plan another FDR style ‘bank holiday’ of indefinite length, perhaps very soon, to let the insiders sort out the bank mess which is getting more out of their control every day. Insiders want and need to impose new bank rules. Widespread nationalization could result, already under way. It could also lead to a formal US$ devaluation, as FDR did by revaluing gold (and then confiscating it). But devalue against what? The euro? Doubtful. Gold? Maybe. Or versus the IMF basket of currencies (which seems more likely) and much in the news recently. Any kind of bank holiday will push the US$ lower, which may be a bonus benefit to their ongoing scenario of letting the US$ fall. Such a fall would get the devaluation they want without having to declare it. In sum, the insiders want more bank and system control, fewer banks, and a lower USDollar. A bank holiday would suit all their needs& Obviously, you cannot open safe boxes if the banks are closed, so plan accordingly. All this is speculation, but we have to go with what we’ve got, scraps of information that point to certain possibilities. In any case such a closure will, IMO, come sooner or later, as the worst of the embedded [credit] derivatives are still to be faced. We are years away from solving them because the controllers do not want to, since their fingerprints are all over them& PS: during the FDR bank holiday, thousands of banks never reopened. It was a face saving way of shutting them down. I would guess the same would occur today. Thousands have little or no net value, loaded with debt, and bad mortgages.” (Minor edits were made to make Harry’s unusual style more readable, with no change to content)

Schultz elaborated some more on the prospects of price inflation arriving in force. He prefers non-US$ companies, many listed in US and Canada or Australia. He wrote, “The world is staggering today between stagflation and net deflation right now. It varies widely around globe. Net deflation is a maybe 35% risk, due to toxics [toxic assets] and/or deepening depression. Bit more likely, we will slowly creep up to a dangerous 4.5% [price] inflation on average, medium-term. But the wild card is the currency risk, which has a 50% (?) chance of boiling over and causing literally overnight (i.e. 24 hours) mega inflation in the asset markets.” He implies that the stock market might be a beneficiary of monetary inflation, as easy money floods into the financial markets and bids up prices. The same flood would bid up the gold price. He recommends 35% to 45% devoted to gold mining stocks and gold bullion. The story was reiterated by Peter Brimelow on MarketWatch for further publicity and legitimacy (CLICK HERE).

Bob Chapman actually broke the story, but Schultz used his enormous pulpit of thousands of subscribers to broadcast the message with ample publicity. One of the Chapman subscribers reported overheard two FEMA (Federal Emergency Mgmt Agency) men wearing official jackets talking to a police chief in California. FEMA would take control nationwide in a virus epidemic. They wanted to federalize the entire police system across the United States. They discussed plans for the USGovt to close the banks in late August or early September, and that will get ugly, in their words. Chapman quotes another source that “Panasonic has told their people to be back in Japan by September 2009.” There is an internal confirmation on US bank shutdown.

My best source of bank information confirmed the report of US bank shutdown plans by the USGovt. A confirmation came, saying This report is 100% correct. It is much worse, and it will get a lot worse than most people can imagine in their wildest dreams. The arising opportunities and arising risks are limitless. Those who get it early enough (within the next 8 weeks) will prosper, and those who do not will fail, never to get a chance to recover. It will be a mega cleansing process. People who are privileged to read Jim Willie’s Hat Trick Letter will say 'the guy had it all figured out and wrote about it in a polite and gentle way.’ Greetings from the epic center.”

One ex-USMilitary contact also confirmed the bank shutdown plans. He has friends located inside the US Homeland Security Agency. He passes on word that the HSA has extensive drills to prepare for national riot control in urban centers in early October. He also mentions that HSA has by far the dumbest, least talented, and unimpressive staff in all the USGovt. They accepted rejects from all other agencies like FBI, CIA, and National Security Agency, Drug Enforcement Agency, and Alcohol Tobacco & Firearms Agency when the HAS agency was originally formed. The other agencies did not wish to part with their best staff, of course.

One should doubt that Canadian bank locations will be much different from US chaos during the period when banks are shut down temporarily. Maybe the US states along the Canadian border will accept Canadian Dollars temporarily for transactions? Who knows? Nothing in the last 18 months has been normal, and no return to normal comes. Those who think normal will return are lunatic and blind. The past is forever gone, along with its system, soon to be supplanted in violent manner with shock wave after shock wave. In fact, within 12 to 18 months, shock waves will become the norm in my view. The actual trigger events are unclear, but the credit derivatives must be breaking all over the place for last few months. Hidden fires are dealt with using AIG under the USGovt aegis, but damage is surely occurring elsewhere. The US banking system broke last autumn. All that keeps it held together lately is corruption and rubber bands, supplied with unlimited liquidity funds channeled into the dominant syndicate centers on Wall Street, assisted by grand propaganda and phony accounting rules.

Here is my best forecast & speculation of what might specifically occur during a US bank shutdown, and immediately afterwards. Bank heists would be prominent and widespread, given the perfect environment of darkness. The theft would include gold bullion centers. It would also coincide nicely with the possibility of Elite theft of gold from major gold storage centers in addition to the Royal Canadian Mint. The bank heist would likely include inactive accounts nationwide as well as entire bank deposits at lesser known banks, selected as vulnerable without protection in either New York City or WashingtonDC. Blame would be given to nameless rogues, when Wall Street firms would be deeply involved. During the shutdown, many regional and midsized banks would be forced by USGovt order, under the cloak of national security and emergency, to merge with big money center banks. These larger banks are the zombies often described, and the banks responsible for most bond fraud if not counterfeit. They are dead. They are masquerading as viable in order to attract stock issuance capital. They would sponsor seizures painted as mergers, where perhaps the USGovt will order the majority of regional and midsized banks to ‘team up with an upper echelon bank’ for systemic risk defensive purposes. Banks across the nation might be forced to find a money center sponsor bank. It will be a raid on their assets.

The USDollar should suffer a 30% to 40% sudden devaluation. The gold & silver prices should rise by 20% at least, held back by continued stubbornfraud in the COMEX. The USDollar devaluation would officially be touted as beneficial, to trigger a possible USEconomic recovery. However, it would cause instant commodity price inflation and a rise in the entire national cost structure. It would be beneficial to export companies, but their customers are under extreme duress. It would at the same time inflict greater hardship on US households on a cost basis. The USEconomic recession would worsen very badly, become a recognized depression. The red herring is the unknown effect on both credit derivatives and the COMEX gold contracts. The credit derivatives would suffer shocks from the USTreasury Bond impact, surely not positive, as bond yields would probably rise from lost confidence in both the US$ and USTBond simultaneously. The COMEX gold contracts are directly related to the USDollar exchange rates. Major disruption and potential fractures could come to the COMEX, which could actually shut down for a longer period than the US banks. During the period of darkness, legitimate hope might be justified into thinking that the COMEX might actually never open. It might be broken, exposed, and suffer the shame of criminal prosecutions finally. That might be wishful thinking. Extreme problems would come, however, to the COMEX if discontinuity comes to price structures. That is a certainty!!!

The other major unpredictable outcome is social disorder, chaos, riots, destruction of property, and public frustration. The inaccessible bank accounts mean no new money to purchase food, to pay for utilities, to buy gasoline. The national economy would grind to a halt. My realistic view is that the USGovt and Ruling Elite bankers wish to spark riots so that they can declare a state of emergency, so that they can declare martial law. They anticipate a violent reaction. If viruses are unleashed at the same time, the nation will sink into total chaos and lock down into countless pockets of isolation. Shutting down the banks might be necessary to restructure, with or without criminal intent. Nonetheless, shutting down the banks might be a planned step toward ending the Republic and beginning a new Fascist state with totalitarian powers. They might shut down banks so as to create a response that sets into motion the new system the Ruling Elite lust for.