Babylon's Bankers


April 9, 2015 By Joseph P. Farrell

This was shared by Mr. S.D., and it is a significant enough story that it must be passed along. First, a little context. Regular readers of this site already know what my personal high octane speculation on the subject of electronic surveillance is, namely, it has as much to do with financial surveillance as it does with international terrorism. Indeed, the two, to some extent, go hand in hand. The best way to track and uncover impending terrorist operations would be precisely to track the financing for them. But this, of course, implies an ability to do something elsem namely, to monitor financial transactions and markets in real time, and ultimately as former Assistant Secretary of Housing and Urban Development Catherine Austin Fitts, others, and I have argued from time to time, this implies the ultimate insider trading mechanism.

To put this point somewhat differently, as I argued last year at the San Mateo Secret Space Program conference, the American intelligence community was put directly into the banking business by President Truman when he took the decision to keep recovered Axis loot a "state secret" and to use it as a mechanism of funding a covert operations project against the Communist bloc, and as a funding mechanism for secret long-term black projects research into exotic propulsion, and presumably weapons, technologies. By keeping all of this secret, the intelligence community not only was put into the banking business directly, but into the financial auditing business. With the expansion of electronic financial clearing systems, one must perforce entertain the idea that the expansion of this auditing capacity expanded with it. In short, the auditing came first; its application as a mechanism of tracking terrorist schemes and plots was merely an adaptation of that capability.

In that context, then, consider the article that Mr. S.D. shared:

NSA trying to map Rogers, RBC communications traffic, leak shows

The article puts the implications of this system of financial surveillance "country simple":

"The U.S. National Security Agency has been trying to map the communications traffic of corporations around the world, and a classified document reveals that at least two of Canada’s largest companies are included.

"A 2012 presentation by a U.S. intelligence analyst, a copy of which was obtained by The Globe and Mail, includes a list of corporate networks that names Royal Bank of Canada and Rogers Communications Inc.

"The presentation, titled “Private Networks: Analysis, Contextualization and Setting the Vision,” is among the NSA documents taken by former contractor Edward Snowden. It was obtained by The Globe from a confidential source."

Once again, this appears to be more fallout from the Ed Snowden affair. Before considering the implications of these revelations, consider the scale and significance, for the implication is that the NSA is spying not only on a close ally of the USA - Canadian troops hit the beaches of Normany along side their British and American counterparts after all - but on one of the world's major economies's central bank as well. And what the NSA can do to the Royal Bank of Canada, it can probably do to the Bundesbank, the Bank of England, Bank of France, and so on, including the Federal Reserve.

Now, to set the record straight, I do not presume for a moment that the USA or the NSA is alone in electronic surveillance skullduggery of all sorts. Britain's similar capability at its GCHQ is well known. And it is rash to assume that the other major powers do not have similar programs. Russia and China are known to have large cyber-warfare programs, and this implies a similar capability. The Snowden Affair has only served to focus attention on the USA's capabilities while giving other countries, for the moment, a free pass on their own programs.

It is, however, the implication here that disturbs, for the inevitable economic consequence of such revelations is the breakdown of trust and confidence in the financial trustworthiness of western financial institutions and the security of their clearing. The police-national security state inevitably works in a counter-productive manner to the economic good of the very people and society it claims to protect. For this reason Brazil and other nations have called for, and are trying to implement their own independent internets, the U.K. and Germany are joing China's Asia development bank as founding members.

Over the long term, transparency, or at least a degree of translucence has to be restored to the system in order to restore confidence and trust. It remains to be seen how, if at all, the BRICSA nations - and especially China - will accomplish this.

See you on the flip side...