Voice of Russia: The Wall Street and the big banks have been accused of creating a "perfect economic storm" with its toxic derivative products and reckless lending practices. Is the financial sector the sole culprit?
Peter Koenig: Economics and politics are intimately linked. Politics are the purpose; economics is the means – or vice-versa. The financial system and the industrial complex feed on each other. The “perfect economic storm” is the result of a well prepared strategy of the Anglo-Saxon Empire with its European allies to control the world’s resources and monetary systems through massive corporate exploitation, backed by a financial mafia which is obtaining legitimacy by international organizations, such as the IMF, World Trade Organization (WTO) and the World Bank. Countries that defend their sovereignty and oppose the dictate and exploitation of their resources will be systematically subjected to first, economic sanctions, then to the NATO killing machine. Cases in point are – Iraq, Afghanistan, Libya – now Syria – with Iran next in the firing line.
Europe is being subjugated by debt. Debt makes one dependent. In other words, the indebted European economies ruled by Wall Street and associated financial czars are sacrificing their integrity to become willy-nilly ‘allies’ of the US corporate-financial empire.
As for the ‘toxic derivatives’ – ranging in estimates from about US$ 400 to 700 trillion (close to ten times the word’s total annual economic output – in 2012 the world GDP was about US$ 85 trillion) – they are a speculative product of banking greed, created like balloons of thin air, without any substance at all. They have become a time bomb for the banking system itself. If the banks were to decide to call-in the outstanding derivative debt, the banks themselves would implode, pulling with them the entire Western economy. Read more: http://english.ruvr.ru/2013_07_04/The-US-dollar-is-not-worth-the-paper-it-s-printed-on-Koenig-0441/