Defaulting banks - where will it stop?

[David Guyatt]

The $10 trillion figure mentioned at the end of this AFP article is coming up in a lot of online chatter about specific claims of insider, criminal, looting with the money "hidden" from the reach of international regulators. If $10 trillion really has been stolen, then the imposition of what Naomi Klein describes as Shock Therapy must be imminent.

I am not surprised by this figure of $10 trillion. Black money from the drugs trade, arms trade and all other criminal activities has been filtering into offshore accounts for decades. That money is then put back to work in legitimate business enterprises.

The key to this was outlined by Michele Sindona when in prison and slightly before his death when he was interviewed by Nick Tosches for his book "Power On Earth".

I very much suspect this is how Hedge funds have accrued so much clout to play and manipulate the markets.

Also, from Joel's website the following statement:

http://www.isgp.eu/dutroux_and_nebula/Be...Nebula.htm

"To comprehend this nebula, it is necessary to abandon traditional financial or political logic; this is not merely a question of nation, political party, or of ordinary economics... Our conclusion would be that at least over the last twenty years, the economic powers, some of which mafia types, have allied themselves with political forces and organized criminal structures, and reached the 4th stage of money laundering, namely, Absolute Power. It has been specified to us that at the present moment these characters control 50% of the world economy."
- Introduction of a Belgian gendarmerie report to a number of senior officials, District of Liege, November 21, 1994.

Note the date of this report was 14 years ago...