Wednesday, September 02, 2009

MY LETTER TO THE FINANCIAL SERVICES AUTHORITY ABOUT BILDERBERG AND THE CREDIT CRUNCH

In April this year (before Bilderberg 2009) I sent the following letter to Lord Turner at the Financial Services Authority, and in reply I was told that what I set out in that letter was being investigated.

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Dear Lord Turner

I very much welcome the decision to investigate the events that led to The Royal Bank of Scotland and Halifax Bank of Scotland being bailed out by the British taxpayer, particularly now that Alistair Darling has given us some idea of the consequences, but have little confidence in its independence if the City auditors are brought in as co-investigators. I therefore ask that you reconsider that element of the investigation to make it truly independent.

But this is a secondary matter.

You recently published a review in which you explained the reasons and general events that you thought had led to the current financial crisis. One of those reasons, if not the prime reason, was the financial derivative. The bank with the largest exposure to these derivatives is J P Morgan Chase (JPMC). JPMC is a bank primarily made up of J P Morgan and Chase Manhattan and is associated with the leading Wall Street banking names Rockefeller, Morgan and Warburg. These are the names exposed by The Pecora Commission of 1934, an investigation managed by Ferdinand Pecora into the practices of the Wall Street banks which led to the 1929 crash and the subsequent depression. Pecora exposed them all as financial thugs, charlatans and tax evaders. Sound familiar? The Pecora Commission led to several banking acts and the establishment of the Securities and Exchange Commission.

We desperately need a new Global Pecora Commission today.

I would like to bring to your attention a group called Bilderberg. Bilderberg was started by a card-carrying Nazi Prince Bernhard of the Netherlands, and one recent regular member is George Soros, another self-confessed Nazi who worked for the Nazis in Hungary in the confiscation of the property of Hungarian Jews before they were transported to concentration camps. Bilderberg consists of a Steering Committee which meets once each year and invites approximately one hundred people, which the steering committee considers to be the most important of that year, to a three or four day meeting in an exclusive hotel surrounded by security guards and beyond the reach of the public. Behind closed doors, in order to encourage frank and open discussion, they discuss world affairs under Chatham House Rules, i.e. nobody, not even the attending reporters, can reveal to anyone outside what was said.

The current President of the United States Barak Obama came to power on a promise of change. But take a close look at his economic team and key positions in his administration and they have all been to Bilderberg several times, indicating some continuity of economic and foreign policy. The following key people in Obama’s economic team were all at Bilderberg 2008 in Chantilly, Virginia last year;
• the current Secretary to the Treasury Timothy Geithner
• the current Chairman of the Board of Governors of the Federal Reserve Ben Bernanke
• the current Director of the National Economic Council Lawrence Summers who briefs President Obama every day on the state of the economy.

Also there was the former Secretary to the Treasury Henry Paulson.

President Obama’s Deputy National Security Adviser Thomas E. Donilon has been to Bilderberg for the last 11 years except in 2007, which is no surprise because he like Peter Sutherland of RBS is on the Bilderberg Steering Committee.

One of Obama’s chief advisers James Johnson also attended Bilderberg last year, and not for the first time, which may well explain why Obama selected Donilon, Geithner, Summers and Bernanke on Johnson’s advice. The following also attended last year;
• Henry Kissinger
• Josef Ackermann, Chairman and CEO of Deutsche Bank (who recently met with Brown in 10 Downing Street with a representative of JPMC to discuss what?)
• Jean Claude Trichet, President of the European Central Bank
• David Rockefeller (see above)
• Paul Gigot, Editor of The Wall Street Journal
• Harold Ford, VP of Merrill Lynch
• William J McDonough, Vice Chairman and Special Advisor to the Chairman, Merrill Lynch
• Martin S. Feldstein, then President and CEO of The National Bureau of Economic Research
• Robert E Rubin, Director of Citigroup

and one Sir Tom McKillop of RBS.

The following types usually attend every year;
• David Rockefeller (on the International Council of J P Morgan)
• Henry Kissinger
• Secretary General of NATO
• Monarch of Spain
• Monarch of The Netherlands
• A handful of Neocons (Richard Perle etc)
• At least one senior reporter from the Financial Times (who is never allowed to report on the proceedings!)
• The owner/manager of The Washington Post (who is never allowed to report on the proceedings!)

The presence of two senior employees of Merrill Lynch is of significance because Bank of America bought Merrill Lynch just a few months later with hundreds of billions of dollars in loans and guarantees from the TARP proposed by…Henry Paulson. In February this year Bank of America Chief Executive Officer Ken Lewis testified before New York Attorney General Andrew Cuomo that Paulson and Bernanke instructed him not to disclose Merrill Lynch's financial condition to shareholders before its takeover by Bank of America.

I recall that you told the Treasury Select Committee earlier this year that both Gordon Brown and Ed Balls asked the FSA to go easy on The City during the last few years as the crisis developed. Why do you think they requested that? Our current Prime Minister Gordon Brown attended Bilderberg in 1991 with Maurice Greenberg of AIG. Ed Balls MP has attended almost every year this decade. MPs are supposed to register their attendance at Bilderberg. George Osborne and Ken Clarke have, but I can’t find Balls’ registration of his attendance.

But of much more interest to you in the investigation of RBS should be Peter Sutherland. Sutherland is much more important to Bilderberg than McKillop. Sutherland has been a member of the Steering Committee of Bilderberg this decade, while at the same time sitting on the board of RBS from January 2001 until February this year, and also occupying the position of Chairman of Goldman Sachs International, a position he has occupied since 1995.

Another significant employee of Goldman Sachs is Henry Paulson. Paulson worked his way up Goldman Sachs to eventually become Chairman and Chief Executive Officer in 1999.

In 2004 Wall Street requested that the Securities and Exchange Committee relax their rules and allow the likes of Goldman Sachs and J P Morgan Chase to basically do whatever they wanted, not only in the USA but anywhere in the world. How similar is this to what was requested of the FSA and its oversight of The City, and did that request of the FSA occur at about the same time?

So at the time that this request was made by Goldman Sachs and J P Morgan Chase, the Chairman of Goldman Sachs Intl was the Bilderberger Peter Sutherland (when he was also on the board of RBS and on the steering committee of Bilderberg) and the Chairman and CEO of Goldman Sachs was Bilderberger Henry Paulson. The Chairman of the SEC who acquiesced to this request was William Donaldson, who is a member of another Rockefeller-financed organization The Council on Foreign Relations. Needless to say, that decision led to the current crisis. Paulson then became Secretary to the Treasury at the request of George Bush and came up with “the Paulson Plan”, i.e. a massive, massive bailout called the TARP.

Citigroup, under the direction of Robert E Rubin who attended Bilderberg last year, took out $45 billion of TARP bailout money.

I understand that several British banks have also received multi-billion pound bailouts from the TARP through AIG (see below for the significance of this), one of which was RBS. I also understand that HSBC did the same, and that RBS and HSBC were the two British banks with the largest exposures to derivatives, and HSBC still has the fifth largest exposure.

Regarding a representative of Goldman Sachs attending Bilderberg each year, Sutherland attended Bilderberg this decade in 2000, 2002, 2003, 2004, 2005, 2006 and 2007, and in the previous decade once he became Chairman and Managing Director of Goldman Sachs Intl Sutherland attended in 1995, 1996, 1997 and 1998. Paulson has attended only once, in 2008. The representative for Goldman Sachs at Bilderberg 2001 was Ken Courtis.

This decade Geithner has attended in 2004, 2005, 2006, 2007 and 2008.

Bernanke has only attended in 2008.

Mervyn King attended in 2003.

James Johnson, President Obama’s Adviser, has attended every year since 1998 inclusive, except for in 1999 and 2004. Johnson was also a member of the board of Goldman Sachs between 2001 and 2003.

Richard Holbrooke, currently overseeing the indiscriminate slaughter of Pakistani civilians by US drone attacks and also member of the board of AIG for the last three years, has attended Bilderberg for the last five years, as well as for five years in the 1990’s.

Martin Feldstein, like Holbrooke also on the board of AIG since 2005, has attended Bilderberg every year since 1996 inclusive except in 1997, 2000 and 2004 (you should instantly recognize the significance of this frequent attendance of two members of the board of AIG!). Feldstein is a member of the board of David Rockefeller’s elite Council on Foreign Relations and Trilateral Commission as well as a member of the Group of Thirty.

Matias Rodriguez Inciarte of The Santander Group has attended every year since 1997 inclusive?

So why haven’t you or I been invited?

And what are these powerful financiers and kings and queens talking about that reporters from such prestigious newspapers as The Financial Times, The Washington Post and The Wall Street Journal never, ever, ever report the proceedings? Indeed, why are such reporters invited if they cannot report?

I think it is of great significance that
1. Peter Sutherland of RBS was also managing Goldman Sachs while on the steering committee of the secretive Bilderberg group that was started with Rockefeller money and David Rockefeller attends every year.
2. both Goldman Sachs, under Paulson and Sutherland, and J P Morgan Chase, controlled by David Rockefeller, requested that the SEC relax their rules, and this occurred about the same time that the FSA was requested by Ed Balls and Gordon Brown to do the same.
3. Sutherland, Rockefeller and Balls have attended Bilderberg meetings nearly every year this decade as the current financial crisis began and evolved
4. another regular face at Bilderberg Tim Geithner is now Secretary to the Treasury and is now financing the TARP bailout proposed by another Bilderberger and director of Goldman Sachs Henry Paulson.
5. Tom McKillop was also at Bilderberg last year, i.e. TWO members of the board of RBS, Sutherland and McKillop, were in the USA attending a secret meeting with the engineers of the TARP and possibly the engineers of the crisis itself.
6. Goldman Sachs and J P Morgan Chase now appear to be the first to recover from the crisis, now requesting that they be allowed to repay their bailouts back to the US government, and thus put themselves in prime position to take advantage of the situation that they may well have engineered under the guidance of Rockefeller, Sutherland and Paulson.

As the current financial crisis began to unfold J P Morgan Chase almost managed to buy Bear Stearns for just $2 a share, but after some investor protest still bought BS for half price, at $10 a share. JPMC was able to do this with a bung from the Federal Reserve of nearly $30 billion. Just a few years ago Bear Stearns was the seventh-largest securities firm in terms of total capital and was thus a big competitor of J P Morgan Chase.

J P Morgan Chase also purchased Washington Mutual, the largest savings and loans association in the USA and the sixth largest bank in the USA and was thus another significant competitor of J P Morgan Chase. The FDIC seized WaMu and for whatever reason gave it to J P Morgan Chase.

No representative of Bear Stearns or Washington Mutual has ever attended Bilderberg.

A report in The Independent of 17th April 2009 entitled “JPMorgan ready to return $25bn Tarp cash” states that J P Morgan Chase is desperate to repay its multi-billion dollar loan after posting profits well above expectation. The report goes on to state:
The results showed how JPMorgan is winning market share from weaker rivals. New mortgage business and car loans both surged, offsetting a $547m loss on credit cards. Overall, first-quarter earnings were $2.14bn, down 10 per cent from $2.37bn in the same period last year but about 25 per cent higher than the market had been expecting.

So it appears that J P Morgan Chase is doing quite well…

The Federal Reserve also bailed out AIG with $150 billion, by far the largest individual bailout.

Another major beneficiary of Fed bailouts is Citigroup. Citigroup was started by a Rockefeller and still is part of the Rockefeller empire, and several of its board have been to Bilderberg. Robert Rubin, who opposed regulation of derivatives, attended last year with Geithner and Bernanke. Rubin is also Chairman of David Rockefeller’s elite Council on Foreign Relations, and was Bill Clinton’s Secretary to the Treasury. Citi’s President and CEO is William Rhodes, a member of Rockefeller’s Council on Foreign Relations and also of The Group of Thirty along with Geithner, Feldstein and Summers. A senior adviser to Citi is James Wolfensohn. Wolfensohn has attended Bilderberg every year since 1995 inclusive except for in 2001, and was President of The World Bank for ten years from 1995.

Citi made a move to purchase Wachovia after Wachovia was advised to sell itself by the FDIC, and was just about to seal the deal when Wachovia announced it would be merging with Wells Fargo instead. Citi took that claim to court and failed. Citi is still complaining about the decision to allow the merger between Wells Fargo and Wachovia.

Again, there has been no attendee from either Wells Fargo or Wachovia at Bilderberg.

These men, such as David Rockefeller, James Wolfensohn, Timothy Geithner, Peter Sutherland, etc., all very experienced in world finance are meeting behind closed doors once a year for three or four days. What are they talking about?

A report in The Washington Post of 20th April this year entitled “A Bigger, Bolder Role Is Imagined For the IMF” suggested that the International Monetary Fund is preparing for a time just a few years from now when it will control the world economy. The IMF was recently given more power and money at the G20 London Summit because of the current financial crisis. The current Managing Director of the IMF is Dominique Strauss-Kahn who attended Bilderberg in 2000. Previous MDs of the IMF are
• Rodrigo Rato who attended Bilderberg in 1992 and 1994
• Jacques de Larosière who attended Bilderberg in 1982
• Pierre-Paul Schweitzer who attended Bilderberg in 1964 and 1966
• Per Jacobsson who attended Bilderberg in 1957

A look at the statistics provided by the US Office of the Comptroller of the Currency shows that the banks named below, which are significantly represented at Bilderberg, are highly exposed in derivatives, the cause recognized by yourself as a, if not the, prime reason for the current financial crisis
• J P Morgan Chase
• Bank of America
• Citi
• Goldman Sachs

Interestingly HSBC has the fifth largest exposure. Why? I don’t know, but it would be interesting to find out.

Their exposure to derivatives far exceeds their total assets. Why are they effectively gambling in such large quantities? Or do they have some insider knowledge of what is to occur because of the Bilderberg connection between some banks, such as J P Morgan Chase, the US Federal Reserve and the US Treasury?

I don’t know about you, but this all looks highly suspicious to me.

What were Rockefeller, Paulson, Geithner, Sutherland, McKillop, Holbrooke, Feldstein and Balls all discussing for three days behind closed doors knowing that anything they said would never be reported despite the presence of reporters from the FT and The Wall Street Journal, and having been in the exact same situation several times before when the current financial crisis was developing?

We need a new Pecora Commission. Investigate this lot under oath. Now!

Yours truly,

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