It would be really ironic, wouldn’t it? The political faction that considers itself to be the most patriotic political group in U.S. politics actually be led and financed by the Europeans?
When “W” (George Bush II) tanked the economy in 2008, he left Washington with no hope but to borrow literally trillions of dollars to bail out the U.S. economy from what could have, and would have been the greatest depression of all time. There was no choice.
In the process, the U.S. government had to print money and issue new debt to as they say “drive the economy out of the ditch’. Fortunately at the time, the ‘Euro’ was conveniently collapsing and the U.S. dollar was seen as a destination for cash, and the U.S. government was able to ‘sell’ its bonds to the Chinese, Brazilians, Taiwanese …you name it… and finance the re-boot of the U.S. economy.
The issue with this effort is that when the U.S. sells bonds to the Chinese, this means the Chinese are NOT buying sovereign debt in other countries. And it also means the U.S. isn’t buying foreign bonds too. This is a zero-sum business. If the overall U.S. federal debt was lower, that would leave ‘room’ for global investors to buy bonds in other currencies. But the economic collapse of 2008 created a new ‘world’ where the U.S. dollar and Euro for example are actually competing heavily for global bond buyers.
Fortunately for the U.S. or rather conveniently for the U.S. – marginal states in the Euro-zone (Greece, Spain, Ireland, and Portugal) collapsed and brought down the whole Euro-zone with them – and voila, the U.S. dollar was seen as a global refuge currency and investors migrated to U.S. bonds.
But, this competition between the Dollar and Euro – must end if the Euro is to survive. The only way it can end is if the U.S. government’s appetite for debt can be contained. In a one-to-one battle between the Euro and the Dollar, the Dollar will win out – every time.
So out of nowhere – in comes the Tea Party crowd. Rupert Murdoch’s fox news become the propaganda vehicle for the rise of the Tea Party. The Tea Party crowd are now a political faction (I mean a small group of Republicans) that have become the ‘swing party’ in the House of Representatives in Washington. They wield power beyond the ‘size of their boots’.
And what is the principal message they espouse? Fiscal constraint. Let’s stop the Federal government from borrowing more money! Or – reinterpreted – let’s stop the Dollar from competing with the Euro!
When the Chinese credit agency downgrades the dollar because the Tea-Party crowd in Washington have closed down the Federal Government and threatened a default, the winner my friends are the Europeans – not ordinary Americans.
The Tea-Party has long had strong links with its European counter-parts. When the Tea-Party crowd mix in their message of fiscal constraint with anti-Muslim rhetoric and accuse Obama of being a closet Muslim, this is all European rhetoric brought in by touring European bigots – like Gert Wilders. When there is a Tea-Party crowd in Manhattan opposing the construction of a mosque near ground-zero, they are gracious enough to bring in European anti-Muslim speakers.
And in the immortal words of Deep Throat, to really find out what the truth is, let’s follow the money! Who is financing the Tea-Party? Well the Koch brothers (mainly). So you have to wonder how it is that the Koch Brothers, that have been financing the Tea Party grew from spending a “mere” $857,000 in lobbying in 2004, grew so rapidly to spending $20m dollars in 2008? And over the next two years, they then spent a further $20.5m. Their causes are varied, and happen to coincide with BP’s interests, and their interests as Koch Industries in oil, energy, chemicals and financial products. They are employing no less than 30 lobbyists in Washington, and underpin the Tea-Party’s efforts nationally. Their money machine just happened to peak at the same time that the Euro and the U.S. dollar began to seriously compete for global sovereign fund investors! Strange isn’t it? I mean, the huge level of federal debt just wasn’t an issue during the Iraq war while George Bush was in power?! When George Bush II doubled the overall level of national debt – it wasn’t a big deal?
In Europe, in 2008 (around the same time that they started financing the Tea-Party), the Koch Brothers started trading in Government issued emissions credits…and raking in millions of ‘euros. These anti-government interventionists, small government libertarians have been ‘handed’ the mother of all big government products by the Europeans to make money from by the tree-hugging, liberal, socialized medicine, big governments of Europe. Enough money to more than finance the Tea Party! Very strange??
And, you have to also ask yourself, where would the Tea Party be without Fox News? Yes, Rupert Murdoch’s Fox News has been pivotal to the brainwashing of the Tea Party crowd. The answer is – nowhere. And Rupert Murdoch’s connection and penetration of the European (especially Britain’s) political sphere is well known and well established. I won’t bore you with the facts, but he owns the Times, the Sun, Sky TV (that beams all across Europe and Asia). And his connections with the Oil Barons – the Rotchsilds family that co-own BP now with the KIO (Kuwait government) is well known. British financier Lord Jacob Rothschild, has been a close Murdoch friend since the 1960s, and served as deputy chairman of Murdoch’s BSkyB Corporation from 2003–2007. And Murdoch has jointly invested with Rothschild in a 5.5 percent stake in Genie Oil and Gas, which conducted shale gas and oil exploration in Israel. Just like the Koch Brothers, many backers of the Tea Party and their links to Europe (and European oil interests) are very clear for everyone to see.
And here is one other observation for you: I was in Florida a few weeks ago, and met a friend who has close involvement with the Tea Partiers in Florida, who was very proud of his ‘team’ spending several months in Europe to learn about how to be more effective in their campaigns in the U.S. mmmmh!? Europe? Who is paying for all this?? (I thought to myself?)
Anyway, what makes all this rhetoric from the Tea-Party so laughable, is that their European masters are really not in a position to lecture the U.S. about the overall scale of government debt. The Europeans have been borrowing and inflating their economies for centuries. If you are lucky enough to be born in Ireland these days, the moment your mama puts a dummy in your mouth you’ll be eating a $500,000 per capita national debt load that you will be paying back for the rest of your life. It is after all the Europeans that need to constrain their spending, their big governments and their overall borrowing – not the U.S. The Tea-Partiers need to be looking at their European masters with disdain, and accusing them of hypocrisy.
No, the U.S. has managed its way out of the crisis in 2008, and has a very deliberate plan to put its economy on a firm footing to pay back all its sovereign debt in a more sensible manner than the Europeans could ever imagine. First and foremost, America will become self-sufficient in terms of Energy within the next 5 years, there will not be major dollars slipping out of the U.S. economy to petro-states world wide – who might or might not decide to buy U.S. treasury bonds with that cash. My point is Americans can finance their own bonds as this process plays out. And as the US economy continues to recover and grow, there will be less competition for Sovereign dollars and the Euro can (and will recover too). The Europeans really need to stick their noses out of American politics. And as for the Chinese, if they don’t buy U.S. bonds, Americans won’t buy Chinese made products at Walmart. It’s that simple. When the U.S. buys over $400 Billion dollars of Chinese products a year, and the EU buys $250 Billion dollars’ worth of Chinese products – will the Chinese pick Euros over the U.S. dollar? No the strength of the U.S. economy will always sustain the U.S. dollar over the Euro.
What the Tea-Party crowd don’t understand is the tremendous value of sovereign debt plays in ensuring key U.S. partners maintain a stake in the success of the U.S. economy. And quite honestly, the key role it has played in re-booting a broken economy. They are simply ignorant.
As for the Tea-Party crowd, it won’t take long for other Republicans, but especially Americans to figure out how unpatriotic, ignorant and bigoted they are. Let them immigrate and live in the Netherlands and join their fascist hero Gert Wilders, and his ‘conservative’ party who preside over a nation with a 60% tax rate, socialized medicine and tough anti-immigrant laws – that ultimately mean they will get kicked out the Netherlands too. And can someone inform them that the great right-wing darling Maggie Tatcher (Ronald Reagan’s buddy) increased UK sales taxes to 15%, and kept the National-health system completely intact (despite all her rhetoric).
There is fiction and there are facts. And the fact is that the Tea Partiers (and their backers) are not Patriots at all. With leaders like Ted Cruz from Texas and Alaska’s Sarah Palin – both in BP’s (and the oil industries’) back pocket, it’s pretty clear that they are just another group of sell out, political whores.
Oh, and don’t forget one thing about Patriotism from the Tea Party. Next time someone says Obama should be impeached because he wasn’t born in America, turn around and tell that person – how come your darling Ted Cruz will be running for President and he was factually (according to his birth certificate) born in Canada from a Cuban mother.