By Emanuel Pastreich(epastreich@asia-institute.org)
Many have asked how the Pastreich administration will address the current financial crisis, debt crisis, and the horrific concentration of wealth in the United States while finding the necessary funding for ambitious projects to give all Americans access to quality education and guarantee food, housing and clothing. Granted the trillions of dollars in debt and the hundreds of billions committed to foreign wars and corporate bailouts, it seems impossible to do much of anything with the overstretched federal budget.
However, there is a decisive first step that will completely transform the landscape of the American economy and I will take it on my first day after assuming office.
My administration, working with the extensive documentation already compiled by our team, as well as by independent researchers, will bring counterfeiting charges against every major investment bank and private equity firm active in the United States and based on the facts demonstrated by these documents will seize all the assets of those banks and firms involved, will bring criminal charges against those responsible for planning and carrying out these massive financial crimes, will make public all the details of these massive illegal and unconstitutional transfers of wealth through these banks and other financial institutions to wealthy individuals and families around the world, and will disclose the exact financial stakes of every individual involved in these crimes by stripping away the curtain of secrecy created by bank policy, the use of trusts and funds, and classified directives.
We estimate that over thirty trillion dollars in counterfeit dollars has been illegally and unconstitutionally generated by these financial institutions in collaboration with corrupt elements in the Department of the Treasury and the Federal Reserve.
The crimes
If you or I printed up United States currency and used it to purchase products, we would be charged with counterfeiting, thrown in jail for up to twenty years, and all our assets would be seized.
Yet the rich and powerful, working through investment banks and private equity firms, have engaged in the most blatant counterfeiting over the last twenty years with impunity, assuming that their crimes would never be understood, let alone prosecuted. They employed various forms of subterfuge to order United States currency created and given to them, both openly and covertly, in an illegal and unconstitutional manner. Everyone knew they were engaged in blatant counterfeiting, but the watchdogs and public figures were paid off to keep their mouths shut.
1) Hundreds of billions of dollars that were earmarked for the Department of Defense and the intelligence community budgets yearly over the last twenty years disappeared into the coffers of the banks, often without a trace, using classified budgets and other tricks. The money will be traced and its illegal issuance by the Federal Reserve and the Department of the Treasury will be treated properly as a case of counterfeiting and all of that money will be retrieved through the seizure of assets, in the United States and around the world, from the billionaires behind the scam.
2) For years the federal government employed the corrupt policy of “quantitative easing” whereby the Federal Reserve, a privately owned financial institution, illegally and unconstitutionally counterfeited currency in the hundreds of billions of dollars to buy assets (often worthless) from financial institutions and speculators. This money was created through an act of counterfeiting and all the money must be returned via the seizure of assets and those responsible must be charged for these crimes.
3) After the launch of the Military-intelligence-financial-media COVID-19 operation, more than ten trillion dollars, or more, was transferred to banks and speculators as so-called “COVID-19 Relief.” This theft of currency belonging to the American people was also a blatant case of counterfeiting and all parties involved should have their assets seized and those responsible jailed.
4) There were many other cases in which the operatives of global finance in the Federal Reserve and the Department of the Treasury conspired to counterfeit American currency for the purpose of “market stimulus,” “corporate bailouts,” and low-interest or free loans. These cases must also be fully investigated and similar fines levied.
The consequences
The taking back of control of money by the people is priority number one for our administration. The scale of the crimes is so great that they demand immediate and decisive action so as to restore the rule of law and create a democratic economy.
Specifically, we must seize all assets of the financial organizations in precisely the manner as would be done if any citizen had engaged in such illegal activity.
Ordinary Americans who have their savings handled by these firms are not the target. The assets that will be seized are those held by the billionaires hiding behind these firms who knowingly printed up trillions of counterfeit money for their own enrichment.
This process will result in the establishment of a solid economic system that is not dependent on speculation in stocks, bonds, and derivatives and will thereby free citizens from the economy of debt that is designed to enslave. The costs of the transition will be covered by the funds seized in accord with existing laws concerning counterfeiting.
We will also launch both criminal and civil cases against all executives at these banks and financial firms who oversaw this counterfeiting operation, as well as the treasury officials and Federal Reserve employees who collaborated with it.
Finally, these high crimes will serve as due cause to end permanently all of the secret agreements in the United States and abroad that have been used to hide the identities, and the assets of, these rich individuals. The exact nature of all offshore trusts and funds, and other legal mechanisms used to mask true ownership, will be torn to pieces.
Moreover, all employment of secret and top-secret classifications by the Federal Reserve, the Department of Treasury, and factions of intelligence and military involved in finance will be ended so that none of these crimes can be hidden any longer.
List of banks for the first stage
The nationality associated with the banks and private equity firms who participated in these massive counterfeiting operations is not relevant. These institutions serve clients around the world, they are incorporated around the world, and they stash assets around the world. The following institutions will be the initial targets for charge of counterfeiting money in collaboration with the Department of the Treasury and the Federal Reserve, but others will be added as the criminal investigation advances.
Investment Firms:
BlackRock, Vanguard, State Street.
Investment Banks:
J. P. Morgan Chase, Goldman Sachs, Bank of America Securities, Morgan Stanley, Citigroup, UBS, Deutsche Bank, HSBC, Barclays, RBC Capital Markets, Wells Fargo Securities, Jefferies Group, BNP Paribas, Mizuho, Lazard, Nomura, Evercore Partners, BMO Capital Markets, Mitsubishi UFJ Financial Group.
Private Equity Firms:
The Blackstone Group Inc. KKR & Co. CVC Capital Partners, The Carlyle Group Inc. Thoma Bravo, EQT, Vista Equity Partners, TPG Capital, Warburg Pincus LLC, Neuberger Berman Group LLC.
The author’s views in this article may differ from the official editorial direction of Korea IT Times.– Ed.
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