Friday, June 22, 2007

Transnational Oligarch Circles

This article by Dr. Mark Whiteside was in today's Key West Citizen. Whiteside is an occasional, thoughtful essayist in the Citizen on a variety of topics. Today's essay is the first time I've been able to make some sense out of what some see as conspiracy theories and others as a plot by the super-wealthy to rule the world.

Money quote:
It remains to be seen if Congress and the American public will come to their senses and liberate the U.S. from the pernicious influence of these transnational oligarchic circles and return the U.S. to the principles of our founding fathers. The obliteration of the true history of the United States and its replacement with a false history of the Anglo-American shared world vision of "free trade and democracy," is one of the greatest and most underestimated achievements of the British conspirators profiled by Quigley.

This article came to me via Sally O'Boyle's Realty web log. Although the story is about Detroit, it's illustrative of the sub-prime mortgage market problems that are also affecting the Keys currently. It's the story that Cayo Dave has been unfolding at his Key West Chronicle blog.

If you believe that there is an invisble hand behind the economy -- not the metaphorical hand of the free market postulated by Adam Smith, but the heavy hand of those who would move nations and their economies to the financial benefit of the few -- then its easy to speculate that the lending excesses of the past several years are part of an overall plan, or rather plot, to some nefarious purpose.

If you don't believe in what Whiteside calls the transnational ologarchic circles, it still demonstrates that irrational, unethical, and illegal practices have once again entered into a system that often seems designed to take advantage of the lack of financial sophistication on the part of the majority of consumers -- homeowners, in this case, seduced into debt they didn't understand and wound up being unable to afford.

"Rhodes Trust", "Society of the Elect", " Junta of Three", "Council on Foreign Relations". It's the stuff of fiction. Whiteside says that Quigley said it's real.


1 comment:

jipzeecab said...

While Sally's article and Dave's commentary are real world examples of the real estate market at a low point, Mr. Quigley's theory is nonsense, sort of an international "alibi Ike" for everything he doesn't like about Western economies.
The groups mentioned as part of the transnational oligarchical conspiracy are intellectual study groups made up in some cases of leaders and ivory tower types trying to put some sense to the way the world works, (another group not mentioned here is the "Buildaburgers"), not organizations or individuals plotting to take it over for their own nefarious ends.
It is very difficult for any "conspiracy" to successfully go beyond 3 persons (see jim hendrick et al.)
In foreclosures everybody loses something, the lenders lose less but they lose too.
The real problem is the inability of most societies to educate their citizens in personal financial responsibility well enough so that they will make better fiscal choices in their lives.

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