|
 From
Presidential Treason 103: "A President need not directly perform
the treasonous acts himself to sell out our country. He need
only to open the doors, put the 'right' people in charge and
let the Communists and their sympathizers have full run of
the labs and key departments of our government."
The
Export-Import Bank is no exception.
After a flagrant disregard
for U.S. jobs, there is suddenly a push to promote the sale
of U.S. products to the Communist Chinese by way of taxpayer
financed and guaranteed loans. Loans that are too high risk
for normal private financing, but not too risky for the U.S.
taxpayer financed Export-Import Bank.
While the Bank has in the past proven to be a useful tool
in our economy, as could be expected, the Clinton administration
has turned it into another agency run by political appointees
with clear conflicts of interest to perpetuate corruption
and possible treason. The story is quite revealing.
Without getting into the nitty-gritty of banking, which is
beyond our interest, we will take a look at the basic facts
and see what conclusions we can draw. The information that
follows was obtained from those major newspapers that are
often entered into the Congressional Record, the official
Export-Import Bank website and other official .gov websites.
The Export-Import Bank
(All quotes in this section are from the Export-Import Bank
website.)
China is Ex-Im Bank's second-largest customer. "In China,
Ex-Im Bank has total exposure of more than $5 billion and
estimates it will support approximately $1 billion of U.S.
exports to Chinese companies and government-sponsored infrastructure
projects in fiscal year 1998."
The Bank devotes a considerable amount of space to ranting
and raving about their special treatment of the Chinese customers
since: "The Clinton administration's commitment to expanding
trade and cooperation between the United States and China
is clear. Ex-Im Bank is working hard to act on that commitment.
We are doing so by streamlining programs, increasing outreach
and providing superior customer service. By doing this, we
expect to significantly increase the number of Chinese companies
buying goods and services from the United States." (Yes,
and we have a bridge to sell...)
"High quality service and meeting the needs of our customers-both
U.S. exporters and Chinese buyers." (Remember that the
next time you call a government office or, better yet, next
April when the IRS has you on hold waiting to find out how
much you have to pay to finance this fiasco.)
"Ex-Im Bank's mission is to create jobs through exports.
It is an independent government agency that finances the sale
of U.S. goods and services around the world." As you
will see, 'independent' will require some of the infamous
Clinton parsing.
"Ex-Im Bank's loans, guarantees and medium-term insurance
cover 85 percent of the contract price (100 percent of the
financed portion). The foreign buyer is required to make a
15 percent cash payment. Ex-Im Bank also provides credit insurance
that protects U.S. exporters against the risks of non-payment
by foreign buyers for political or commercial reasons. Ex-Im
Bank does not compete with commercial lenders, but assumes
the risks they cannot accept. In other words, Ex-Im Bank provides
financing for transactions between U.S. exporters and creditworthy
Chinese buyers that would not occur without our assistance."
(Freely translated, the Chinese, should they choose to default,
can get our exports for 15cents on the dollar - and we pay
the rest.)
"The cost of funds provided by Ex-Im Bank, whether loans
or guarantees, is based on U.S. Treasury borrowing rates."
(A bit better than the taxpayer can get, who is footing the
bill!)
But never fear, they have thought of everything. They have
actually put restrictions on the goods that they 'finance'.
"Because Ex-Im Bank's principal mission is to support
sales of U.S. goods and services, at least 50 percent of the
product's content must come from the United States."
(Some rough calculations on this revelation will blow your
mind. Try spinning this through the old export-import cycle
a few times and see what the Ex-Im loan exposure and the trade
deficit look like. You get the picture - gives new meaning
to 'diminishing returns'. And at any time the Chinese can
default on 85% of their loans. Such a deal!)
And folks, if the urge strikes you in the middle of the night
to dispose of some sensitive technology, weapons or other
national secrets, never fear, the Export-Import Bank is there
to serve you with its "new 24-hour Asia Hotline"
that "offers the latest information on the Bank's short-and
medium-term financing available for exports to China."
And how did Clinton load up the Export-Import Bank to complete
the 'China Connection'?
It is important to note that the Board of Directors of the
Ex-Im Bank consists of its President, its Vice President and
three other voting members. Of these five voting members,
a quorum (3) is required to vote away our tax dollars. The
Secretary of Commerce and the U.S. Trade Representative are
on the Board but do not have a vote. At the moment there are
only two voting members on the board, therefore the absence
of quorum is holding up billions of the taxpayer financed
loans - and Clinton is on a tear to free up some cash for
his communist friends, as you will see with the Venessa Weaver
story that follows.
Also, for readers not familiar with the crime and corruption
so prevalent in the Clinton administration, the sections on
Haley and Weaver may be difficult to follow. There simply
is no way to make this story straightforward. There are hundreds
of people involved/connected to hundreds of others, most of
whom are corrupt and/or communist sympathizers - and they
are all friends of the Clintons. How anyone short of a hundred
lifetimes could dredge up such a vast array of lowlifes is
beyond imagination - but they did it. Clinton has placed many
of them in high paying positions in our government - fortunately
some of them have 'died', 'retired' or have
been 'indicted'. But with those who remain - the insanity
continues...
Martin A. Kamarck - Ex-Im's former President, Vice President
and Member of the Board
Martin Kamarck was nominated to President and Chairman of
the Board of Directors of the Export-Import Bank of the United
States on December 21, 1995. Prior to that he served as Vice-Chairman
of the bank and, before that, he was its director and consultant.
Mr. Kamarck is/was a partner in Morrison & Foerster, Washington,
D.C.. The firm, of course, has offices in Beijing and Hong
Kong - a clear conflict of interest.
In addition to the obvious conflict of interest generated
by his links to Communist China, there appears to be evidence
of other conflicts of interest arising from the Bank's rejection
of China's Gorges Dam project. The project was turned down
for Ex-Im Bank financing because of Gore's favorite topic
- environmental concerns. Why? Here are the facts and opinion
written by the large international law firm of Arent Fox Kintner
Plotkin & Kahn: "Mr. Kamarck's wife, Elaine Kamarck
is Gore's policy aide which raised questions about the required
independence of the Export-Import Bank policy. With Kamarck's
resignation, some of the hold on the bank by the White House
may have been lost." (Nah, how could that be!)
And, as could be expected from the scandal ridden Clinton
administration, the Washington Post on 10/1/96 reported: "Congress,
which warned president Clinton not to reappoint him and sent
legislation yesterday to the White House ordering the elimination
of Kamarck's salary next summer.... The lawmakers were punishing
the Ex-Im chief for the allegedly improper payment of as much
as $1 million in extra salary to about 200 of the agency's
employees."
Mr. Kamarck quietly 'retired' and disappeared from the scene
when his term expired on January 20, 1997. But, never fear,
Clinton still has his stash of corrupt Arkansas cronies in
place to fill the gap - read on...
Maria Haley, former Member of the Board of Directors of Ex-Im
Bank (1994-1999) (The information in this section was obtained
from the White House website and articles in Investor's Business
Daily and the Wall Street Journal.)
Maria Haley of Little Rock, a longtime associate of Clinton,
was confirmed by the U.S. Senate in April 1994 to the Board
of Directors of the Export-Import Bank of the United States
where she was the Asia-Pacific director. She was nominated
for a second term on May 18, 1995. She remained in that $118,400
per year job until July 1999. She's now back at her old job
in the White House personnel office. (It should be noted that
during the critical 'sell out America' phase of the Clinton
administration, the Board of Directors of Ex-Im Bank was blessed
with Kamarck, Haley and the infamous Ron Brown.)
According to Investor's Business Daily 8/4/99: "Haley
was hoping for another term. But some senators reportedly
objected, citing bad press over her meetings with key figures
in the administration's fund-raising scandal." One of
them was John Huang, one of the Democrat National Committee's
(DNC) illegal campaign fund-raisers, and an 'alleged' spy.
"In 1994, Huang, then at Commerce, paid a visit to Haley
at the Ex-Im Bank. He brought along his old Lippo boss, James
Riady. [Lippo Group is a partner with Beijing's communist
regime.] While at the DNC, Huang called Haley at least five
times. Between 1994 and 1996, Ex-Im Bank gave up to $900,000
in export insurance to Lippo."
"Haley repaid the visit, joining Huang on a Commerce
trade trip to China in August 1994. Huang and Haley go way
back. They worked on deals when Haley was then- Gov. Clinton's
trade contact at the Arkansas Industrial Development Commission."
From her White House biography: "Ms. Haley played an
integral part in the selection and approval of political appointments
in three Cabinet departments and twelve independent agencies."
(A job well done!) " Ms. Haley had worked for the State
of Arkansas in various international capacities She was in
charge of international development for the state, focusing
on export development and foreign investments." That
was the time when the Clinton/Chinese corruption was running
rampant in Arkansas and Haley was obviously in the middle
of it.
Haley's White House bio further states that her community
interests included "the Professional Women's Advisory
Board of Worthen Bank and Trust." That's right, folks
- the Worthen Bank! (Although, according to officials in Arkansas,
Worthen Bank has been bought out, the Worthen Bank and Trust
is what we have all come to know as the now infamous Worthen
Bank!) The Worthen Bank connections to Clinton go way back
in a tangled web of corruption and international scandal.
The Riadys (Chinese Communists) and Worthen have supported
Clinton through many elections with 'tainted' money. Connected
with Worthen are Huang, Webster Hubbell, Vincent Foster, Hillary,
the Riadys, the Lippo Group, Stephens and a whole array of
other highly 'questionable' characters - some of whom you
will meet later in the bio of Clinton's recent appointee to
the Board of Directors, Vanessa Weaver. Oh, what a tangled
web we weave...
According to the Washington Post on 10/20/96: "In 1984,
Lippo and Stephens [covered in the Weaver section] joined
forces to buy a 30 percent stake in Worthen Bank Corp., Arkansas'
largest financial institution with ambitions to develop international
business." "Several players in that drama turn up
in the new controversy surrounding Lippo. Tucker's former
lawyer, John Haley, a co-defendant in the cable case, is divorced
from Maria Haley. Haley's longtime law partner, Mark Grobmyer,
is a golfing buddy of President Clinton's who attended an
Oval Office meeting with Riady and passed out business cards
presenting himself as "White House liaison" to Riady
executives in Jakarta."
And from the Wall Street Journal: "With the help of Little
Rock attorney Mark Grobmyer [Clinton's golfing buddy] and
Export-Import Bank director Maria Haley--both longtime Clinton
associates--Thai lobbyist Pauline Kanchanalak pushed a $7
million deal at the Export-Import Bank for a Blockbuster video
franchise in Bangkok, while channeling more than $500,000
to the Democratic Party. The deal fell apart and the Democrats
have returned most of the money; Ms. Kanchanalak has decided
to remain in Thailand for a while."
With the highly questionable activity of Ms. Haley in dispensing
the tax supported loans for over five years in promotion of
her pro-Chinese Communist agenda, it is small wonder that
the Senate objected to a third term by this typical Clinton
appointee.
Vanessa Weaver - nominated July 1999 to the Board of Directors
Ex-Im Bank (Much of the information in this section came from
Investor's Business Daily articles.)
With Clinton's loss of the Haley 'assistance' at the Export-Import
Bank, voila, enter the infamous Dorian Vanessa Weaver, who
gained national prominence with her involvement with Labor
Secretary Alexis M. Herman's scandal with regard to influence
peddling at the White House where Weaver worked at the time.
Ms. Weaver was nominated July 28, 1999.
While her White House bio is rather 'scant', a little digging
provided some insight into Ms. Weaver's credentials for her
newly appointed job as member of the board at the Export-Import
Bank where her vote will be the third one for the necessary
three to unlock the $2.3 billion in loans currently held in
limbo due to the lack of a quorum. That's a pretty significant
job - let's see what her credentials are for authority over
the disbursement of our tax dollars.
Well, for starters, Ms. Weaver has a PhD in clinical psychology,
an unlikely prerequisite to the demands of her new post! But
hold the show! Here comes the 'meaningful' stuff...
According to Investor's Business Daily 8/4/99, Weaver is a
good friend of one of the Democrat Party's illegal fund-raiser,
and 'alleged' spy, John Huang.
While Huang was employed at the Commerce Department with his
illegal top secret security clearance, he was briefed by the
CIA at least 37 times and had access to hundreds of classified
documents. "As often as three times a week, Huang would
leave his Commerce office carrying a folder or briefcase and
walk across the street to the Willard Hotel. There he'd visit
the Washington office of Stephens Inc., an Arkansas-based
brokerage." (The Lippo Group connection from the section
on Maria Haley.)
Since Huang made numerous secret contacts with the Communist
Lippo Group via fax and mail from the Stephens office after
his intelligence briefings, investigators are looking into
the 'possibility' of espionage. Venessa Weaver's father, Vernon,
one of Clinton's Arkansas cronies, runs the Stephens office.
Vernon Weaver let Huang use an empty Stephens office to pick
up overnight packages, make phone calls and fax documents.
Vernon Weaver gave his secretary strict orders to hide the
setup. Sixteen faxes sent during this period from the Stephens
office went to Huang's old employer the Lippo Group, a partner
with Beijing's communist regime.
While Huang was drawing his exorbitant salary at the Commerce
Department and shuffling through top secret documents, he
received 27 calls from Vernon Weaver, while Venessa Weaver
called him 23 times. Ms. Weaver and Huang exchanged 26 phone
calls over the 17-month period in 1994 and 1995. She also
reached out to Huang in October 1996 when he was being sought
by U.S. marshals.
According to Investor's Business Daily, the congressional
investigator "suspects Vanessa Weaver was a White House
'go- between' for her father and Huang. Her White House office
is just across 15th St. from the Willard Hotel [the Stephens
office] and the Commerce building."
When Huang decided, in mid-September 1995, to leave Commerce
for his illegal fundraising at the Democrat National Committee,
the calls from Vanessa Weaver's White House office picked
up. This led to further investigation into her role in the
illegal fund raising. Ms. Weaver is truly a well-rounded Clinton
team player...
Her nomination is before Senator Gramm's Banking Committee
for confirmation. It might be a good idea to 'nudge' the good
senator to encourage his investigation into this highly 'questionable'
individual!
Dan Renberg - nominated to the Board of Directors of Ex-Im
Bank (August 1999)
Dan Renberg was nominated to the Board of Directors of the
Export-Import Bank on August 5, 1999. Mr. Renberg was a legislative
assistant for Senator Arlen Specter before working for the
Washington D.C. lobbying firm of Klett Lieber Rooney &
Schorling where he was referred to as a "lobbyist at
the federal level". He also heads his own firm Renberg
Strategies in DC where he is a registered lobbyist. It is
interesting to note that, while the other registrant filings
did not list 'credentials', all his filings state "lobbyist
Dan Renberg is former legislative director for Sen. Arlen
Specter." (Who says government service doesn't pay off
in spades!) There is little information on Mr. Renberg since
his company Renberg Strategies is not listed on the web.
However, there appears to be another conflict of interest
here. A lobbying firm that so freely advertises their boss's
'political connections' will surely be quite 'open' about
his voting power on the Board of Directors of the Export-Import
Bank of the United States. His influence could be worth big
bucks to his lobbying firm.
The Current Export-Import 'Team'
As we said in the previous section, currently the Board of
directors of the Export-Import Bank has only four members
- its President and Chairman, James Harmon, its Vice President
and Chief Operating Officer Jackie M. Clegg, the Secretary
of Commerce William Daley and the U.S. Trade Representative
Charlene Barshefsky. Of these four only its President and
Vice President can vote on disbursement of funds. There are
three director seats vacant which, after Ms. Haley 'left',
provided the board with an absence of quorum; thus the need
to push Weaver into the key spot. Seems like a rather sloppy,
high budget, paper-shuffling operation (almost $2 billion
in 1998) when it can't even muster a vote!
From the Office of Management and Budget for the Export-Import
Bank: "The bank's net operating loss was $1,730 million
[$1,730,000,000] in 1998." "The bank's request for
administrative expenses for 1999 is $51.9 million, of which
$2 million will be used specifically to cover costs associated
with the renovation of the GSA-owned building occupied by
the bank." Never fear, this is another operation that
draws its resources from the bottomless pit of taxpayer dollars
- they are in a continuous pattern of 'bailout'...
James A. Harmon, President and Chairman of Ex-Im Bank (June
1997 to present)
Mr. Harmon comes with a list of credentials. He spent 38 years
as an investment banker in New York City. He was/is Senior
Chairman at Schroder Wertheim & Co., whose links are listed
throughout the web, all of which are dead. However, tracking
through the Security and Exchange Commission's filings, the
expected story emerged...
The company has a network of 'offshoots' extending through
the entire gambit of securities enterprises, including funds
with investments in Communist China. The conglomerate has
over 5000 employees and does just about everything, including
managing funds, advising on investments, audits, filings,
order execution, etc. Under "Registered Foreign Institutional
Investors" appears Schroders Asia Limited with offices
in Hong Kong.
Looks like we have another 'China trader'. With connections
in the Ex-Im Bank, his company's investment advisors can throw
out their ouija boards! In any event, there appears to be
a clear conflict of interest here, too!
Jackie M. Clegg, First Vice President and Vice Chair of Ex-Im
Bank (May 1997-present)
Ms. Clegg was nominated on May 6, 1997. Her bio reads like
a nonevent - like someone on the FBI's relocation program.
In fact it doesn't even list education or previous employment,
which leads us to wonder if she had either. Anyway, she's
in there voting to spend the big bucks!
Charlene Barshefsky, U.S. Trade Representative, Ex Officio
Board Member of Ex-Im Bank (March 1997-present)
Ms. Barshefsky became a member of the board upon her appointment
as the U.S. Trade Representative in March 1997. You will remember
her from the Presidential Treason 103. Ms. Barshefsky was/is
a partner in another one of 'those' law firms, Steptoe &
Johnson, a Department of Justice-registered foreign agent
with offices in Moscow. Another clear conflict of interest
- but, oh well...
Her proudest accomplishment should be noted: "With respect
to market access and intellectual property rights with China,
Ambassador [title comes with the job] Barshefsky was instrumental
in achieving a comprehensive IPR enforcement agreement with
China, and has been responsible for achieving the gradual,
and steady opening of the Chinese market for priority U.S.
exports. In addition, she has opened bilateral negotiations
with China on services, including insurance and value-added
telecommunications." (The comprehensive IPR enforcement
agreement is about as useful as all the nonproliferation and
test ban treaties the Communist dictatorship has signed and
ignored. Wonder if Ms. Barshefsky has her computer loaded
with pirated Microsoft products readily available today in
Communist China for 1% of fair value?)
William M. Daley, Sec. of Commerce, Ex Officio Board Member
of Ex-Im Bank (January 1997 - present)
Mr. Daley assumed his position on the board with his confirmation
on January 30, 1997 as the Secretary of Commerce. (Which leads
us to another interesting point that prior to his 'death'
in April 1996, as Commerce Secretary, the infamous Ron Brown
was a member of this board of directors. Guess we should be
lucky he didn't give the rest of the store away. In fact they
even thought so highly of the corrupted Communist sympathizer
Brown that they now issue a special award: "In recognition
of his leadership in helping small U.S. businesses to export
overseas, Ex-Im Bank Chairman James Harmon received the 1999
Ronald H. Brown Enhancement Award from the Small Business
Exporters Association at a ceremony held in Washington, D.C.,
on May 25." Oh, to be famous in Clinton's America!)
If you've read the previous Presidential Treason reports,
you are quite familiar with the 'esteemed' Mr. Daley, but
we'll repeat it here anyway. "Mr. Daley was Clinton's
1992 Illinois Campaign Manager, who appears to have been involved
in questionable activities in the Chicago area involving fraud,
the IRS and the FBI. The lawsuit against Daley and his firm
Daley and George, that dragged on for five years, (1992-1997)
was suddenly dropped by the 'prosecutor' exactly one month
after Daley was sworn in as Secretary of Commerce on 1/30/97.
Also, he may have misrepresented himself in his Senate confirmation
hearings. Mr. Daley is/was a partner in the international
law firm of Mayer, Brown & Platt where he was "concentrating
in the area of corporate and government relations matters"
(paid lobbyist?). The firm is listed with the Department of
Justice as a registered
foreign agent for Russia and has offices in Moscow and Beijing,
with emphasis on Communist China. If he is still a partner,
on leave of absence or not, he is benefiting from the firm's
dealings with China and Russia and hence has a conflict of
interest (allegiances) which, by law, should deny him a security
clearance and access to classified material."
And there you have the full cast of characters, all drawing
exorbitant salaries, most of whom have glaring conflicts of
interest and most, if not all, promoting the Clinton doctrine.
Makes you eager to file those tax returns?
And, a few of the 'interesting' developments involving the
Ex-Im Bank:
An example of the outrageous abuse of the taxpayer-financed
Export-Import Bank was reported in the Washington Times on
5/18/99: In 1995, "China completed a $70,000 deal to
sell Pakistan 5,000 custom-made 'ring magnets' produced by
an arm of the Chinese government's China National Nuclear
Corp." These are key components in making fuel for nuclear
weapons. Two and a half years later, Pakistan conducted an
underground nuclear test, beginning a new arms race in Southwest
Asia. (This sale took place in late 1995 and was first reported
by the Times in March 1996.)
"The sale triggered a provision of law on business loans
requiring the Secretary of State to notify the Export-Import
Bank when any nation is caught helping another nation develop
nuclear weapons. But the Commerce Department, headed by Mr.
Brown, former Democratic National Committee chairman [and
then a member of the Board of Directors of the Export-Import
Bank], soon was leading the charge to block economic sanctions
against Beijing and Islamabad. Selling ring magnets to Pakistan
undermined years of work to keep such states from building
nuclear bombs."
"In a move aimed at keeping the ring-magnets dispute
quiet, Mr. Christopher [then-Secretary of State] wrote to
the Export-Import Bank later in February 1996, asking it to
defer loan approvals for American businessmen operating in
China. The cutoff would have been worth about $10 billion
in new loans if it had been kept in place. But the measure
lasted only 30 days and did not affect already-approved loans....."
Rep. Nancy Pelosi, California Democrat summed it up: "It
is outrageous that the administration has now freed the Export-
Import Bank to use taxpayer funds for loans to assist the
China National Nuclear Corp. -- the very company that sold
the ring magnets to Pakistan." "When all is said
and done," she added, "the Chinese proliferated
nuclear-weapons technology and got away with it, and Pakistan
received essential nuclear-weapons technology and was rewarded."
It is interesting to note, according to the Washington Times
4/25/97, that then-White House Counsel Lanny Davis worked
as a lobbyist for the government of Pakistan.
While the lax treatment of China, in light of its egregious
violation of the law, could be explained away by the fact
that Clinton was in the midst of a frantic Communist fundraising
exercise, there may be another reason. One could ask whether
this was in any way connected to the fact the 'soon to die'
Ron Brown and then-White House Councel Lanny Davis where partners
at the international lobbying firm of Patton, Boggs and Blow
that was contractually involved in lobbying for the Pakistani
government? Patton, Boggs and Blow is registered with the
Department of Justice as a foreign agent for Pakistan.
And yet another example of the corruption of the Export-Import
Bank system from the Sunday Times on November 10, 1996: "In
September 1995 [the Haley/Weaver connection] Riady and Huang
met Clinton and pressed for the retention of China's most
favored nation status. At the least,the result of this lobbying
appears to have been sweetheart deals for Lippo involving
billions of dollars, some of which were underwritten by the
US Export-Import Bank."
A statement of policy of this corrupt and treasonous administration
was reported in the Washington Times on 5/18/99. From the
mercifully 'gone' Ron Brown: "National security interests,
Mr. Brown asserted, should not be a higher priority than trade."
Summary
So there you have it - your tax dollars at work! The irony
here is that we are paying the Clinton appointees exorbitant
salaries, considered totally out of reach for most Americans,
to sell out America.
"It's the economy, stupid" was Clinton's campaign
theme during his two corrupt elections. And for the most part,
the uneducated public is happy in its ignorance. In his mad
rush to gain political power and at the same time to provide
the fuel for the Communist dictatorships, the President has
created a runaway situation in every facet of national and
international policy. Imports have been put on the fast track,
right along with the demise of human rights and the proliferation
of weapons of mass destruction. To promote the insanity, the
President has created the enabling environment for the nuclear
secrets to be stolen, sold out our value system and sold the
Chinese Communists the weapon technology to take out the U.S.
cities of their choosing.
The economy has indeed expanded too far, too fast. As with
any excesses, there will always be a price to pay in the form
of a correction. Our "strategic partnership" with
China is a worldwide joke. Clinton's appeasement policy with
the Communist dictators has squandered our superpower status,
so carefully crafted by his predecessors, for the sake of
popularity polls, a pathetic legacy, love of the Communists
and the thrill of the political challenge to raise record
campaign dollars by selling out national security to the highest
bidder. For this 'folly', the American people find themselves
on the edge of a precipice.
Frantic alerts are now going out from the government regarding
potential chemical, biological and nuclear weapons attacks
right here on American soil - a threat created by the Clinton
administration continually vetoing national defense spending
and turning a blind eye, as China sold those weapons to rogue
nations. The stock market is totally overblown and more vulnerable
than it has been in half a century. Giving the Communists
only an ounce of credit, a reasonable assumption would be
that the infamous Y2K bug could result in a combination of
the inevitable disruptions coupled with potential terrorist
attacks, computer sabotage and a financial crisis. The latter
could easily be created by the Chinese who now own enough
U.S. Treasury Bonds to trigger and precipitate a stock market
crash, should they unload them at a time of their choosing
- or, they could simply
devalue their currency.
The simple fact is that this corrupt and treasonous administration
has put the USA over the proverbial barrel, as is being demonstrated
in Taiwan. The Chinese Communists control us. We can't do
this, because they will do that… We have assumed the
position of a third world country in our negotiating power.
The trade deficit, which continues to escalate, is doing little
more than feed the Communist Chinese military machine. The
spin from the administration is how much the American consumer
is saving by the imports. That is ludicrous! The U.S. multi-national
companies operating in China are making the money, obtaining
the goods via slave labor wages, marking them up abroad to
avoid U.S. taxes, and selling them to the American consumer
at their highly inflated prices with minimal import tax allowed
by China's NTR (Normal Trade Relations) status. Check out
those designer shirts and running shoes. They are just as
expensive to the consumer as those made in the United States.
That is what has driven the Dow to over 11,000.
And the trade deficit, which is now becoming a worry to the
banking system, is moving to the front,burner. How do they
solve the problem? The most insane suggestion came from the
IMF that proposes that we buy back our deficit with gold.
Now there's a responsible solution! Let's pay our fine for
the Clinton folly by selling them gold at its current rock
bottom price, so they can develop the most stable currency
in the world. At the rate we are going they will be on the
gold standard early in the next century, while we removed
the last link between the US dollar and gold in the 70's because
we couldn't afford it!
Now that the jobs have all moved to our 'trading partners'
- mostly China - in steps the Export-Import Bank with its
righteous policy to provide jobs for the American worker.
Plus, you gullible soul, it will also help reduce the trade
deficit. Now, let's get this straight. Due to the conditions
that had been established, our corporations have frantically
moved our manufacturing jobs to our 'trading partners', who
have decided to engage mostly in exports. So now there is
a frantic search for a way to provide jobs to the American
worker. Of course, a good band-aid solution is for the taxpayers
to subsidize high risk loans to the Chinese so they will buy
some piddling amount of merchandise from the U.S.. Of course,
they don't have to worry about repaying the loans - in fact
they will get them for 15cents on the dollar, should they
choose to 'default' - at least that's what the rules of engagement
by the Export-Import Bank are. Such a deal! Sounds like a
welfare system for the American multinationals or just a good
old-fashioned Ponzi scheme for the American taxpayer!
A scan of the U.S. exporters benefiting from the risk free
loans, to high risk buyers, at rock bottom interest rates
reads like the Fortune 500: General Electric, Northrop Grumman,
Mobil Oil, Hughes, Westinghouse Electric, Schlumberger, Lucent
Technologies, IBM, Halliburton, Bechtel, Caterpillar, Case,
Deer - to name only a few. Boeing appears to be the biggest
benefactor of our generosity with billions of dollars in aircraft
sales with no risk. Where did you ever get a deal like that?
A large, importer of this cheaply financed merchandise is
Russia. Remember they are only required to make a down payment
of 15%. Last we heard, Russia was unstable, broke and could
not survive without our IMF donations. So let's see how this
works. In order to promote jobs, we give Russia IMF dollars
to pay their 15% and then we pay for 85% of their imports.
Now that's a financial success story. How can they afford
not to be one of our big importers!
Another term for this tricky maneuver is the 'third way',
which is a Big Business-Big Government partnership. According
to the New York Times-bestselling author Richard Poe: "Under
this new style of governance, Democrats, Republicans, defense
contractors, mass media and intelligence agencies all share
a common interest in covering up Clinton's misdeeds."
"In 1919, [Mussolini] announced that he had found a 'third
way' between capitalism and communism. Mussolini called it
fascism. Under this system, Big Government would run the economy,
while Big Business owned it."
"'I'm grateful that the Third Way seems to be taking
hold around the world', said Clinton in a September 21, 1998
speech at New York University. And well he should be. Without
press or fanfare, world leaders from British Prime Minister
Tony Blair to German Chancellor Gerhard Schroeder are quietly
joining Clinton's crusade for a new economic order that is
neither capitalist nor communist, but something in between."
Off the wall? Maybe. But something that concerned Americans
should not discount.
About the Ex-Im Bank? Not much to do about this treasonous
little corner of our universe except, perhaps, 'encourage'
Senator Gramm and others to reject the confirmation of Venessa
Weaver. Better yet, maybe the Ex-Im's 52 million-dollar administrative
budget for fiscal year 1999, and the billions in losses occurring
through defaults, could be better spent (or saved, heaven
forbid). This is particularly true now that Clinton will be
pushing for more benefits for the Communists by moving the
Ex-Im Bank towards expansion into the Cubian Communist 'market'
whose defaults should cost us a pretty penny, like they have
already cost the French government.
Be sure and read the other three parts
to this series:
PRESIDENTIAL TREASON 101
PRESIDENTIAL
TREASON 102
PRESIDENTIAL TREASON 103
Gretchen Glass is
a free lance political writer and can be reached at Bink995210@aol.com
Published in the August 23, 1999 issue
of Ether Zone Online! Copyright © 1999 Ether Zone
Online (http://etherzone.com).
Reposting permitted with this message intact.
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