Leaked Wikileaks Doc reveals US Military use of IMF, World Bank as “unconventional” weapons

https://pbs.twimg.com/media/DyBmsFnWoAEhkvP.jpg

 

WASHINGTON – In a leaked military manual on “unconventional warfare” recently highlighted by WikiLeaks, the U.S. Army states that major global financial institutions — such as the World Bank, International Monetary Fund (IMF), and the Organization for Economic Cooperation and Development (OECD) — are used as unconventional, financial “weapons in times of conflict up to and including large-scale general war,” as well as in leveraging “the policies and cooperation of state governments.”

The document, officially titled “Field Manual (FM) 3-05.130, Army Special Operations Forces Unconventional Warfare” and originally written in September 2008, was recently highlighted by WikiLeaks on Twitter in light of recent events in Venezuela as well as the years-long, U.S.-led economic siege of that country through sanctions and other means of economic warfare. Though the document has generated new interest in recent days, it had originally been released by WikiLeaks in December 2008 and has been described as the military’s “regime change handbook.” Continue reading

Austerity and Secession

BERLIN/MADRID (Own report) – The escalating Catalan secessionist conflict is upsetting Spain, a country hard hit by Berlin’s austerity dictate. Spain – occasionally praised in German media as a showcase for an alleged successful austerity policy – is still confronted with enormous social and economic problems, in spite of a modest economic growth. Unemployment and poverty remain at high levels. Crisis policies over the past few years have also increased the economic gap between Spain and the euro zone’s centers of prosperity. One still cannot speak of debt reduction – the official objective of Germany’s austerity policy within the EU. The poor economic situation, the high debt burden level and the distribution of federal and regional debts are fueling Catalonia’s secessionist conflict.

Continue reading

Alan Greenspan: This is ‘extremely dangerous’

Please see the website source for the video.

 

While markets hone in on the Federal Reserve’s monetary policy hints, former Fed Chairman Alan Greenspan sees a bigger economic irritant—government spending.

On Wednesday, Greenspan decried a rise in entitlement costs, which he contended have pressured the U.S. economy.

Continue reading

Risk of Bank Failures Is Rising in Europe, E.C.B. Warns

The European Central Bank warned on Wednesday that the euro zone’s slumping economy and a surge in problem loans were raising the risk of a renewed banking crisis, even as overall stress in the region’s financial markets had receded. Continue reading

Special Report: The battle for the Swiss soul

It has come to this: Swiss banks, under pressure from countries such as the United States, France and Germany, have been giving up their secrets, in some cases handing foreign tax authorities the names of their account holders. To avoid being blacklisted by the Organization for Economic Cooperation and Development, the Swiss government has agreed to share more information with foreign authorities hunting tax cheats.

The foreign assault has opened up a huge rift inside the fiercely independent Alpine nation.

Some bankers, as well as many academics and centrist and left-leaning politicians, think the country should bow to the inevitable and abandon strict secrecy. The pragmatists include big banks like UBS AG and Credit Suisse Group AG, which argue that to survive they have no choice but to surrender more information about their customers and close the accounts of those who won’t come clean. Continue reading

Recession ‘taking hold’ in Eurozone, OECD says

With Greek at 24.4% in June and as the Eurozone facing an acceleration of inflation, one might expect to see more of what has taken place in Spain — just on a wider scale.

PARIS (AP) — Europe’s debt crisis is pushing the 17-country eurozone toward recession and dragging down the global economy, the Organization for Economic Cooperation and Development said Thursday.

Even growth in traditional economic powerhouse Germany is slowing, and the OECD’s interim assessment said that Europe’s largest economy could slip into recession by the end of the year.

Full article: Recession ‘taking hold’ in Eurozone, OECD says (AP)