Tonight, Obama could put the finishing touches on the transformation of US perception around the world from being the “shining city on the hill” to the modern-day Evil Empire (assuming the NSA has not already done it). If you look at the US from the outside, what do you see?
– The NSA is bugging the world, and Congress voted down an amendment to restrain them. The latest incidents involve the NSA hacking into the SWFT system, which processes international financial transactions; and spying on Petrobras (Brazil’s largest oil company), which is corporate espionage. For anyone that doesn’t live in Disneyland, this is proof that NSA spying is about money to feed govt, not terrorism.
– The US Justice Department has not prosecuted a single Bankster for fraudulently selling worthless MBS’s and other derivatives across the globe, causing a recession that the world has still not recovered from five years later.
– And who could forget the blatant lies regarding WMDs in Iraq, which has tossed trillions of needed dollars out the window and caused untold human suffering.
Now we have Syria, where Obama wants to kill Syrians to show Syrians that killing Syrians is wrong. Obama must have been channeling Luther Ingram while developing his strategy – “If bombing you is wrong, I don’t wanna be right”.
Obama’s credibility inside and outside the US is the lowest it’s ever been, and the consequences of bombing Syria are unimaginable. If Obama is smart, he would flip over his checker and concede defeat to Russia and go along with the checkmate counter proposal to sequester Syrian chemical weapons. Everyone but a war monger realizes this would be a reasonable diplomatic solution. Unfortunately, this is checkmate by Russia because they avoid the cost of war, while maintaining control over Syria and the supply of natural gas to Europe.
If this path is chosen, then markets should rally until another harebrained scheme is hatched. BTW, if Europe has the most to lose (due to Russia having a monopoly over its needed natural gas), then why don’t they help Saudi Arabia and Qatar fund and train the rebels/terrorist? Oh ya, Russia has them by the balls.
If instead, Obama relies on his Community Organizer skills (and the deceit of McCain & Graham), and launches an attack anyway, even on a limited basis, there will most certainly be retaliations in one form or another. Obama would then have “his” justification to crank up the war machine, but he will solidify his place as the worst President in US history. He may keep Russia from monopolizing the gas market in Europe, but the Russians will still receive a windfall from the spike in oil prices. More importantly, the hatred of the US will skyrocket, and we can’t force China, Russia, and others to buy our bonds (pay our bills).
It is never a single event that brings down a nation, but a process. We may be able to replace the shrinking bond purchases of foreigners with bail-ins, and confiscated pension funds, IRA, and 401K funds, but it will not come without consequences – including significant civil unrest (although things won’t get to out of control, as the govt has been putting assets in place to squash protestors and indefinitely detain them).
Regardless, the government’s need for cash is unending, and the more they confiscate and chase money away, the more the economy will necessarily contract, and the death spiral will accelerate until war becomes the final diversion.
As the respect and value of the dollar declines with the loss of trust and confidence in the US govt, it will be replaced by a basket of other currencies, which will likely include gold. When the day comes in the not too distant future, we will understand the hardship that other countries face when they have to convert their currency in order to purchase oil and other commodities. How much will we have to spend to purchase the gold we no longer have because it’s been re-hypothecated into paper oblivion?
We’ve allowed our country to be taken over by political hacks and community organizers that are destroying our country because they can never see themselves as the problem.
The symbol for all future protest should be a mirror. A mirror that allows government to see the source of the problems. Mail everyone in Congress (and the many that walk the streets) a mirror to remind them why you will go dark on 9/11, and vote them out of office next year to implement de facto term-limits.