The Journal of History     Fall 2003     TABLE OF CONTENTS


Creeping NWO: Issue 2

by Dr. Beter

On October 2, 1975, while cheery promises of economic recovery were emanating from Washington, the largest financial collapse in retailing history occurred. The huge W. T. Grant Department Stores chain with over 1,000 stores in 40 states filed for protection under Chapter 11 of the Bankruptcy Act. Tempted by the booming years of the late 1960's and early 1970's, the chain had expanded at breakneck speed and was caught high and dry when our economy began to crumble two years ago. Suddenly, in the changed economic environment, Grant simply could not find enough buyers for its goods to cover its liabilities. Bankruptcy came with the chain owing over one-billion dollars, more than all of its assets put together.

But companies are not the only things that can go bankrupt. On October 2, 1975, a major firm that rates government bonds suddenly and completely suspended all ratings on New York City bonds. It had become apparent that the City's finances were in bad, bad trouble. New York City, like W. T. Grant, was in over its head. Frantic maneuverings ensued in order to try to keep New York City afloat, including creation of the Municipal Assistance Corporation, or "Big Mac" as it is often called. With that, New York State was drawn into the City's tangle of financial woes, and now the State's bond ratings are on the way down too.

Experts confirm what is all too obvious to everyone. It is now only a matter of time until New York State and City default on their crushing debts as they come due. The result will be legal and financial panic and confusion as creditors, city employees, welfare recipients, bondholders, and others are thrown into a battle to try to get their money. City services will be cut back, unemployment in New York will skyrocket due to layoffs, people who have put their life savings into so-called safe New York City bonds will be in danger of seeing it all go up in smoke.

This is the exact situation that I warned disbelieving Wall Street bond traders about in a seminar in January of this year 1975. All of this is likely to happen within just a few weeks, just in time for Christmas, unless federal or quasi-federal authorities step into the picture with some sort of temporary bail-out scheme. But will this happen?

One of the main contingent plans of the Rockefeller Brothers is to let New York go down the drain. They themselves bailed out months ago, so that they will not personally suffer if New York goes bankrupt. Therefore they are in a perfect position to use the State and City's financial collapse for three purposes:

First--to trigger the general economic collapse for which they have worked so long;

Second--to be able to label our coming crash "The Ford Depression," so that Nelson Rockefeller can then ride out on his white horse like F.D.R. did 42 years ago, proclaiming himself our savior; and

Third--to convince the American people that the United States Congress has become a totally worthless institution so that the Congress can be abolished in the course of setting up their new Constitution and dictatorship.

The plight of New York City and State after all is not unique, as you may think. The deteriorating financial condition of all of the government bodies, with local governments least able to fight back, is a deliberate and predictable product of the economic forces unleashed by the Rockefeller Brothers four years ago.

The era of STAGFLATION and monetary instability entered its current phase in the spring of 1971 through Rockefeller manipulation of their multinational corporations. In my book "THE CONSPIRACY AGAINST THE DOLLAR" published in 1973, I called it "Campaign May." I now quote, starting on page 32:

"It happened on signal. It was May 1971. The affiliates of the multinationals, armed with dollars, opened their Spring offensive. They dropped bombs of dollars on Europe. The Europeans, as they had attempted in 1967/1968, tried again to rescue the American dollar. The multinationals sent waves and waves of dollars against the central bankers until these bankers were compelled to stop supporting the dollar by giving out high fixed-price currencies. The time had come to think of their own currencies and what they were doing to their own economies.

The dollar began to 'float.' It had become free from a fixed-rate in relation to other European currencies. It had, in effect become devalued, 'softer'."

Then came August 15, 1971--mark it well, my friends--the date when our current inflation really began. August 15, 1971, the Rockefellers, through their government lackeys, persuaded President Nixon to repudiate the 1944 Bretton Woods Monetary Agreement by suspending settlement of international transactions in GOLD, since the Rockefeller Brothers had already stolen almost all of America's gold by then. This action, severing the dollar from gold, set in motion an inflationary force greater than America had ever experienced in the 20th Century.

Continuing on page 81 of my book, the predictable effect on governmental bodies such as New York City was pointed out as follows, and I quote:

"The waves of Campaign May had reached the shores of America. The war against the dollar in Europe was coming home to Americans in the form of high prices and social unrest.

The impact of the econostrategic and econopolitic measures of the New Imperialism of the Rockefeller Brothers will be felt for many years in the United States. The legislative bodies of the local, state, and federal government will be incapable of coping with the situation we call stagflation; that is, the problem previously referred to of high inflation combined with a lack of real growth in the economy."
Still quoting:

"After two official devaluations followed by 'unofficial' devaluations as a result of the floating dollar, the value of the dollar, in terms of goods and services bought is going down and down, buying less and less.

Devaluation of the dollar is a presage of increased inflation. The burden of devaluation ultimately falls on the average working man, the pensioner, and those on fixed incomes. It erodes savings accounts, bonds, and other fixed income instruments.

It also takes more dollars for local, state, and federal programs."

Thus, thanks to the stagflation era, launched deliberately by the Rockefeller Brothers several years ago, mounting deficits by New York City were inevitable as they simply tried to maintain programs and services which had begun under a non-stagflation era economy. The same applies to the federal government itself, which is now running a record deficit half again as large as that experienced at the height of World War II.

If the point is reached when New York cannot pay its massive obligations to creditors, then at least some of those creditors will in turn have trouble paying off their obligations and loans. This process can, therefore, ripple through our general economy; but in normal non-stagflation times, it would die out and be absorbed after some point. But the American economy is now dangerously top-heavy with debt, and much of it is owed, by the way, to the huge major banks, insurance companies and the Federal Reserve System--all controlled by the Rockefellers who, therefore, stand to pick up an awful lot of property through foreclosures.

Recent figures indicate that corporations, taken all together, have twice as much debt as liquid assets. Worse yet, two years ago we passed the point at which the total debt of the United States--governmental, business, and personal--exceeded our total assets. In other words, our whole country is now like a great big W. T. Grant operating with a negative net worth.

Should our nation's debt structure collapse badly in one spot, say New York City, the whole thing can start falling down progressively like a house of cards. There is no solid debt-free financial underpinning left to absorb this process and make it fizzle out. One way or another, therefore, it is only now a question of time whether the Government and/or the Federal Reserve will leap into our collapsing economic situation, and their so-called 'solution' for our problems will come down ultimately to printing more dollars. Inflation will then skyrocket even faster than now. Any remaining confidence in the dollar will be shattered, and all of this will come along just in time to send gold prices streaking upward under the conditions which David Rockefeller has labored so hard to finally achieve. I discussed this last month in connection with the IMF gold sale decision, and everything is still very much on track there.

On the weekend of October 5, 1975, just 10 days ago, a secret meeting was held in New York City by delegates of the United States, Britain, Japan, France, and West Germany to lay the groundwork for a Western economic summit to be held later this year. David Rockefeller is trying to make sure that the January 1976 meeting of the IMF in Jamaica will reach a compromise agreement acceptable to France on the matter of exchange rates so that the conditional Gold Agreement reached last month will then take effect. My current information is, that to satisfy France, stable yet flexible exchange rates between currencies will be defined in terms of gold. Gold will be officially fixed at or about $195.00 an ounce for this purpose, this being the first of several successive stages within a period of 2-1/2 years from today, with gold ultimately targeted to reach $2,000.00 per ounce.

So bankruptcy of New York City, if it comes, will serve the Rockefeller Brothers well in their scheme to bring America to submission economically. And after spending months telling President Ford, both directly and through advisors, not to help New York City, Nelson Rockefeller has suddenly hopped on the other side of the fence and now says, for public consumption, that federal authorities should help New York. But this is only lip service, my friends, for behind the scenes he is still making sure that ultimately nothing is done. Now when the ultimate collapse comes, it will be President Ford--not Nelson Rockefeller, the real culprit--who is blamed for not effecting a rescue. Along with Ford, Congress will also be the loser in all of this.

On October 11, 1975, when Rockefeller went public with his statements in support of New York, he said in a speech which, please note, he did not bother to clear with his puppet Ford, and I quote:

"After the Control Board in New York City has acted to restore fiscal integrity, it will be a true test of the responsiveness of our Congressional system as to whether the Congress can act in time to avoid catastrophe."

This is the very same Nelson Rockefeller who, as Governor of New York State, increased New York State taxes by over 500% and its debt by over 300%, and drove numerous industries, including some of his own, out of the state by confiscatory taxation. But you can rest assured that Congress will now be watched very closely by the Rockefeller mass media to see what they do about all of this. Thus the Rockefellers are trying to make us think of New York City's fate as a criterion for the continued usefulness, or lack thereof, of Congress. And regardless of what Congress does, they intend to make sure that Congress does not pass the public opinion test.

So, my friends, don't be too mystified by the strange things going on around us. Keep your eyes focused on causes, not effects, because what man makes, he can unmake.

In the 1920's, the Rockefellers brought a very sophisticated German economist to America from Berlin to work out a plan to massage the Stock Market in order, so they said, to try to deflate inflation. But once they had his plan, they promptly twisted it and used it to bring about the Stock Market Crash of 1929. He resigned in disgust and went into a religious retreat, but later became a university professor. It was my privilege to have studied under this man, and we became good and close friends. It was he, my wise German professor, who taught me finance, banking, and economics and who confidentially taught me to forget all about the effects that economists had written about in their books, even including his; and to focus instead on causes and the way these effects can be brought about. He died with shame in his heart because of the cruel way in which the Rockefellers had warped and misused what he had taught them in good faith. His identity must remain a secret, but he left with me a heavy responsibility to use what he had taught me for good, and that is what I am trying to do now--for you and for him.


The Journal of History - Fall 2003 Copyright © 2003 by News Source, Inc.