John Galt's Blog

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John Galt

John Galt
December 23
John Galt is not my name. That is not me in the pic. I am a frustrated American who, like the character in the Ayn Rand book, is witnessing his society crumble around him. I'm not so sure how to change things, but like John Kennedy once said: "One person can make a difference, and everyone should try"

SEPTEMBER 17, 2012 2:29AM

The Pieces Are In Place For WWIII

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As I scan the internet for news, what I find sends chills down my spine. As I try and sort it all out in my head, I am shocked to realize how mind numbingly complex all of this is. Although I can barely claim real ownership of the issues, I am going to try and summarize what I see as best I can.

The London Telegraph reported on Friday that an armada has amassed in the Persian Gulf in preparation for an Israeli strike on Iran.  From the article:

Battleships, aircraft carriers, minesweepers and submarines from 25 nations are converging on the strategically important Strait of Hormuz in an unprecedented show of force as Israel and Iran move towards the brink of war.

Western leaders are convinced that Iran will retaliate to any attack by attempting to mine or blockade the shipping lane through which passes around 18 million barrels of oil every day, approximately 35 per cent of the world’s petroleum traded by sea.

A blockade would have a catastrophic effect on the fragile economies of Britain, Europe the United States and Japan, all of which rely heavily on oil and gas supplies from the Gulf.

The Strait of Hormuz is one of the world’s most congested international waterways. It is only 21 miles wide at its narrowest point and is bordered by the Iranian coast to the north and the United Arab Emirates to the south.

In preparation for any pre-emptive or retaliatory action by Iran, warships from more than 25 countries, including the United States, Britain, France, Saudi Arabia and the UAE, will today begin an annual 12-day exercise.

In response to this threat, an Irani Revolutionary Guard General warned Sunday that “nothing will remain” of Israel if Iran is attacked. The Huffington Post notes "Gen. Mohammad Ali Jafari also warned that Iran might close the Straits of Hormuz if it is attacked, withdraw from the Nuclear Non-Proliferation Treaty and hit U.S. bases in the Middle East", but that Iran has "no intention" of building a nuclear weapon.

While Israel and Iran draw their lines in the sand, US and other embassies has been attacked across The Middle east. The media blames these attacks on an anti-Muslim film, but in an exclusive by the London Independent, they tell a different story:

Senior officials are increasingly convinced, however, that the ferocious nature of the Benghazi attack, in which rocket-propelled grenades were used, indicated it was not the result of spontaneous anger due to the video(emphasis theirs – JG), called Innocence of Muslims. Patrick Kennedy, Under-Secretary at the State Department, said he was convinced the assault was planned due to its extensive nature and the proliferation of weapons.

The article goes on to say that:

According to senior diplomatic sources, the US State Department had credible information 48 hours before mobs charged the consulate in Benghazi, and the embassy in Cairo, that American missions may be targeted, but no warnings were given for diplomats to go on high alert and "lockdown", under which movement is severely restricted.

China and Japan are entangled in an increasingly volatile conflict over the sovereignty of islands located halfway between the Cinese mainland and Okinawa island. Chinese and Japanese ships have come within a nautical mile of each other as the tension mounts. Defense Secretary Leon Panetta has warned that this conflict could lead to war between the two nations, adding:

...“when these countries engage in provocations of one kind or another over these various islands, that it raises the possibility that a misjudgment on one side or the other could result in violence and could result in conflict, and that conflict would then, you know, have the potential of expanding.”   

Domestically the United States faces a lower credit rating and almost certainty for increased inflation due to the Federal Reserve announcement that Quantitative Easing (or QE, which is a fancy way of saying printing free money) will continue indefinitely. An ABCNews report confirms the Fed's "open-ended" policy of purchasing securities and adds that the Fed is "concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions." In other words, the economy is on life support.  Forbes Magazine reported back in February that the goal of the Fed is to devalue the dollar by 33% in the next 20 years and that “…In effect, the Fed has announced a course of action that will steal — there is no better word for it — nearly 10 percent of the value of American’s hard earned savings over the next 4 years.” THEY ARE STEALING OUR WEALTH THROUGH CURRENCY DEVALUATION.

So the Western and global Powers are arming themselves to the teeth and preparing for war with Iran, with everyone threatening to blow each others’ heads off. Meanwhile, the American media is dumbing down the discourse on foreign policy in the middle east using a movie to blame on embassy attacks, and not the fact that the US has funded and trained the “rebels” who have fomented all the instability we are seeing the region. All of this is happening with a global economic collapse as the backdrop. This collapse has been orchestrated by the Federal Reserve as one of the greatest wealth transfers from the poor and middle-class to the ultra rich in the modern history of mankind. And this is only a fraction of the news that’s out there regarding these issues. The worst part about this is millions of Americans spent their Sunday not thinking about any of these issues, but instead worrying about whether their fantasy football team won, or waiting in front of the television in anticipation for the newest episode of their favorite primetime drama.

I as type its 2am EST Monday morning. I can’t sleep because of how crazy this all sounds to me. As far as I see it, the only hope for planet Earth and its citizens is that those who actually have to carry out the orders that are being put into place come to their collective senses and say no.


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I would be very interested in knowing just exactly how a devaluation of the dollar would transfer wealth from the poor and middle classes to the ultra-rich.

I mean, if the Fed reduces the value of your dollar and of my dollar, by the same amount, what has changed about the relationship of my money to yours?

And if they're going to get WW-III underway, they'd better get to it. Once the world's economic systems collapse there'll hardly be any point to it, will there?
According to Sixty minutes Meir Dagan doesn't think that Iran is nearly close enough to build the bomb and that they're much more "rational" than they've been made out to be. I suspect that the other stories will turn out to be drastically distorted as well.

Intentionally or not this appears to be a September surprise that could turn into a October surprise before the election if we allow ourselves to be driven into a panic by the corporate media which has no credibility. this doesn't mean that there aren't important events going on but it is all the more reason to elect alternative candidates that aren't always focused on escalating the next war instead of preventing it.
Sky - QE makes things more expensive for us whose savings in mostly in cash and have few or no hard assets in their portfolio. For example, as inflation increases, the price of gas will go up, not necessarily because oil is more expensive, but because each dollar is worth less, making it cost more. The guy with the assets on the other hand (like an oil company) is going to be just fine because his concern is not only the value of his dollar, but other hard asstes, and he can transfer his wealth from paper to commodity much easier than you (I presume) or I can. And when that guy has insider info because his corporation has lobbied half of congress and his weekly golf buddy is the CEO of corporation B, then he's really sitting pretty. That was a wordy and incomplete explanation, but I recently read in an article an explanation of what QEunlimited is going to do to folks like you and me. Check it out:

Zach, you are so right - the climate in the middle east and the possibility of an October Surprise make things ripe for a false flag attack, and those usually involve lots of dead people. The corporate lapdog media will take their orders from on high to repeat whatever they're told to over and over again to "push the propaganda", like George W. once said. In addition, politicians love crisis because they get to push through legislation that would otherwise be rejected by the people. Very worrisome, indeed.
Sky, both the American and Canadian dollar have already been devalued in relation to the Euro, Yuan and Yen (and the New Zealand and Australian dollar) - by 33 cents since I first moved here 10 years ago.

The people who benefit from devaluation are debtors and people who depend on the export industry for a living.

The people who lose out are retired people on a fixed income, bondholders and other lenders, people with savings accounts earning a fraction of a percent interest and people who rely on imports (like oil). About 1/3 of the spike in the price of oil is due to the devaluation of the dollar.