It’s almost two years since BP’s oil spill in the Gulf of Mexico. Now, scientists say they have found deformities among seafood and a great decline in the numbers of marine life. Dahr Jamail reports from New Orleans.
Welcome to Capital Account. European banks are under pressure to raise capital and the Euro could collapse triggering panic in financial markets and another great depression. These are all warnings coming out of the international monetary fund. Central banks haven’t been waiting — they appear to be moving away from the euro by buying more gold. We’ll talk about it. And while we are on the topic of the IMF as policymakers descend upon Washington for the Spring meeting — it seems all about raising money to boost the IMF’s fire power aimed at putting out Europe’s debt crisis. But what about defaulting on the debt? How much debt can you throw at a problem caused by too much debt? Economist Michael Hudson joins us to give us his take. He always says “debts that cannot be repaid won’t be repaid.”
The Goldman Sachs coup that failed in America has nearly succeeded in Europe—a permanent, irrevocable, unchallengeable bailout for the banks underwritten by the taxpayers.
In September 2008, Henry Paulson, former CEO of Goldman Sachs, managed to extort a $700 billion bank bailout from Congress. But to pull it off, he had to fall on his knees and threaten the collapse of the entire global financial system and the imposition of martial law; and the bailout was a one-time affair. Paulson’s plea for a permanent bailout fund—the Troubled Asset Relief Program or TARP—was opposed by Congress and ultimately rejected.
The rumour mill is churning in the Persian Gulf with unconfirmed reports of a failed military coup against the Qatari ruler.
There were even media reports that American military helicopters had whisked the Emir and his wife to a safe unknown destination in the aftermath of the failed putsch, said to be have been attempted by high-ranking officers.
On April 17 King Abdullah II of Jordan visited the North Atlantic Treaty Organization headquarters in Brussels in the latest act of obeisance paid to the military bloc by what Zbigniew Brzezinski in 1998 referred to, bluntly but accurately enough, as the dependent vassals and pliant tributaries of the West from the Middle East, North Africa, Eastern Europe, the South Caucasus, Central Asia, South Asia, East Asia and the South Pacific.