Reinventing Banking: From Russia to Iceland to Ecuador

Global developments in finance and geopolitics are prompting a rethinking of the structure of banking and of the nature of money itself. Among other interesting news items:

  • In Russia, vulnerability to Western sanctions has led to proposals for a banking system that is not only independent of the West but is based on different design principles.
  • In Iceland, the booms and busts culminating in the banking crisis of 2008-09 have prompted lawmakers to consider a plan to remove the power to create money from private banks.
  • In Ireland, Iceland and the UK, a recession-induced shortage of local credit has prompted proposals for a system of public interest banks on the model of the Sparkassen of Germany.
  • In Ecuador, the central bank is responding to a shortage of US dollars (the official Ecuadorian currency) by issuing digital dollars through accounts to which everyone has access, effectively making it a bank of the people. …

Islamic State works with Pentagon to destroy Syria

In July two senior Centcom analysts filed a formal complaint saying officials at the Pentagon were manufacturing rosy assessments on the military campaign against the Islamic State. In September an additional 50 defense analysts signed on to the complaint.

The claim prompted the inspector general at the Pentagon to begin an investigation, an unusual move.

Centcom refused to provide details or comment on the investigation. Centcom spokesman Col. Patrick Ryder said “the I.G. has a responsibility to investigate all allegations made, and we welcome and support their independent oversight.”

According to a report posted by The Daily Beast the “accusations suggest that a large number of people tracking the inner workings of the terror groups think that their reports are being manipulated to fit a public narrative. The allegations echoed charges that political appointees and senior officials cherry-picked intelligence about Iraq’s supposed weapons program in 2002 and 2003.”

In November it was reported a task force would be formed on the allegations and on Friday it was announced no less than three House committees will jointly investigate the allegations.

“Today, the House Armed Services Committee, the House Permanent Select Committee on Intelligence and the House Appropriations Committee established a Joint Task Force to investigate allegations that senior U.S. Central Command (CENTCOM) officials manipulated intelligence products,” Reps. David Nunes (R-Calif.), Mac Thornberry (R-Texas) and Rodney Frelinghuysen (R-N.J.) said in a joint statement.

War On Syria Not the Islamic State

The Pentagon’s investigation and those conducted by Republicans in the House are unlikely to reveal the real reason the war against the Islamic State is a failure.

From the start the air campaign against IS has targeted the economic infrastructure of Syria and Iraq.

“So far the US raids that came after the direct Russian involvement in Syria have only targeted civilian, infrastructure plants, electricity plants and other infrastructure, and they have not targeted any terrorist groups,” Jamal Wakim, a professor at the Lebanese International University, said in November.

“What I can see happening is that the targets they’re selecting are those that have, in many cases, no military value at all to ISIS or any other rebel group but really are intended to break whatever infrastructure the Syrian government will have when the fighting is over, such as: the Conoco oil refinery and the grain elevator,” Alan Sabrosky, a professor at the University of Michigan and a graduate of the US Army War College, said in October.

In mid-October the US targeted the Syrian electrical grid when it conducted airstrikes against two power plants under the control of ISIS in the al-Rudwaniya area to the east of Aleppo. …

The destruction of critical civilian and economic infrastructure in Syria is standard operating procedure.

In Libya, NATO bombed the country’s irrigation system. The system transported water from aquifers beneath Libya’s southern desert to about 70% of the population.

The military targeting of civilian infrastructure, especially of water supplies, is a war crime under the Geneva Conventions. …

Russia’s Dollar Exit Takes Major New Step

For some time both China and the Russian Federation have understood, as do other nations, that the role of the US dollar as the world’s major reserve currency is their economic Achilles Heel. So long as Washington and Wall Street control the dollar, and so long as the bulk of world trade requires dollars for settlement, central banks like those of Russia and China are forced to stockpile dollars in the form of “safe” US Treasury debt, as currency reserves to protect their economies from the kind of currency war Russia experienced in late 2014 when the aptly-named US Treasury Office of Terrorism and Financial Intelligence and Wall Street dumped rubles amid a US-Saudi deal to collapse world oil prices. Now Russia and China are quietly heading for the dollar exit door.

Russia’s state budget strongly depends on oil export dollar profits. Ironically, because of the role of the dollar, the central banks of China, Russia, Brazil and other countries diametrically opposed to US foreign policy, are forced to buy US Treasury debt in dollars, de facto financing the wars of Washington that aim to damage them.

That’s quietly changing. In 2014 Russia and China signed two mammoth 30-year contracts for Russian gas to China. The contracts specified that the exchange would be done in Renminbi and Russian rubles, not in dollars. That was the beginning of an accelerating process of de-dollarization that is underway today. …

Russia Debates Unorthodox Orthodox Financial Alternative

A significant debate is underway in Russia since imposition of western financial sanctions on Russian banks and corporations in 2014. It’s about a proposal presented by the Moscow Patriarchate of the Orthodox Church. The proposal, which resembles Islamic interest-free banking models in many respects, was first unveiled in December 2014 at the depth of the Ruble crisis and oil price free-fall. This August the idea received a huge boost from the endorsement of the Russian Chamber of Commerce and Industry. It could change history for the better depending on what is done and where it further leads. …

Much as with Islamic banking models than ban usury, the Orthodox Financial System would not allow interest charges on loans. Participants of the system share risks, profits and losses. Speculative behavior is prohibited, as well as investments in gambling, drugs and other businesses that do not meet Orthodox Christian values. There would be a new low-risk bank or credit organization that controls all transactions, and investment funds or companies that source investors and mediate project financing. It would explicitly avoid operations with active financial risks. Priority would be ensuring financing of the real sector of the economy, its spokesman stated. …

Under Czar Alexander III and his Finance Minister Nikolai Bunge, Russia established the Peasant Land Bank in the beginning of the 1880’s to give interest-free loans to the liberated peasantry that had been freed from serfdom in 1861 by his father, Alexander II and given land. The Land Bank invested in the modernization of Russian agriculture with farmers only paying a small handling charge for credits. The result was such a spectacular rise in Russian wheat, and other cereals that Russia became the world “bread basket” up to outbreak of World War I, exceeding the combined production of the USA, Argentina and Canada by some 25%. …

No wonder the banksters wanted to overthrow the Czar with the communism trojan horse.  It’s been the same pattern ever since.

Book: “Exile”

This is a story that should never have been told. The two
principals in this story—my mother, Amalie Phelan and I—
should by all accounts be dead and the witnesses intimidated.
Two out of three—Amalie died at the hands of the United
States of America and the horrified onlookers have indeed been
cowed into silence.

This is a story which has repeated itself throughout human
history. For reasons of demographics, of whose child you were,
what ethnic or religious or economic group you were born into,
people have been systematically slaughtered throughout
recorded history.

The difference in this story is what happened to Amalie and
to me happened in the country which holds its face up to the
world as the bearer of light, of freedom and justice and
democracy. This story unmasks America at a time when her
imperial efforts, all in the name of defending and spreading
democracy, have resulted in a centralization of power on a
global scale hitherto unknown in our history books.

When I first considered writing this book, many of my
friends and advisers suggested I write it as fiction. They
thought the nearly incredible accounts of covert savagery and
brutality, of remote killing technologies, of the ease with which
both friends and strangers were compromised and co­opted
might be best translated into a kind of “The Net” meets the
“Enemy of the State.” I declined their counsel for the following

While I know very well that this book may incur a knee jerk
reaction of denial in some of my readers, the fact remains that
this is truth, not fiction. These events took place. The persons
named are culpable. As a personal statement of what
happened to Dr. Amalie Phelan and to her daughter­­
myself­­this book stands as a piece of history at a time when
the world is changing rapidly. It is my deepest hope that this
testament will be taken as the strongest warning possible. …

Video Shows Israeli Commandos Rescuing Wounded Jihadists From Syria

Nearly every night, Israeli special ops forces secretly rescue wounded fighters in Syria, among them jihadists, as seen in dramatic footage the Daily Mail captured while embedded with the military force.

The Daily Mail reported that the secret nighttime missions have saved more than 2,000 people since 2013, some of them members of Al Qaeda-affiliated groups in Syria. …

ISIS Now Alleged to Have Chemical Weapons—But Who Did They Get Them From?

Following the ISIS attack in Paris, France, the US and its allies are making further and more dramatic claims concerning ISIS’s capability to strike with deadly force.  According to France, the US and others, ISIS is developing chemical weapons.

Unnamed US official sources were quoted extensively in a recent AP article, stating that ISIS was known to be developing chemical weapons.

And on November 19, the Prime Minister of France issued this warning. ““We must not rule anything out,” said Prime Minister Manuel Valls. “I say it with all the precautions needed. But we know and bear in mind that there is also a risk of chemical or bacteriological weapons.”

These claims must be looked at very carefully. The US has previously made a number of claims that countries on its target list have BW or CW capabilities. Such claims, now discredited as false, were launched by President George W. Bush in order to gain support for the invasion of Iraq. Similar claims were made in August of 2013 against Syria’s President Assad, claims which were used by President Obama as justification to authorize a military strike against Syria. President Putin’s diplomatic solution to this crisis—bringing Syria in to join the international treaty organization, the Chemical Weapons Convention—derailed this stated intent by Obama to make war on Syria and effectively stalled the US’s intended invasion of Syria.

As it turned out, many questions have been posed about the alleged gas attack in Damascus in August of 2013.  A report by a former UN weapons inspector, Richard Lloyd, and an MIT professor, Ted Postol, raises questions about the conclusions that the gas attack was launched by Syrian forces. According to their report, the munitions had a range of about two kilometers and therefore “could not possibly have been fired at East Ghouta from the “Heart,” or from the Eastern edge, of the Syrian government controlled area shown in the intelligence map published by the White House on August 30. 2013.”  

Following the release of hacked emails from members of the US military, further questions arose as to whether the gas attack was in fact staged by US forces. 

Hakim al-Zamili, the head of Iraqi parliament’s security and defense committee, was quoted in the AP article as stating that ISIS’ chemical labs were recently moved from Iraq to “secured locations” inside Syria.  According to the Guardian, ISIS is thought to have deployed mustard gas in Aleppo and elsewhere. 

Firstly, the US’s allegations that the Islamic State is preparing to use chemical weapons must be looked at in light of the US’s incredibly limp-handed offensive against ISIS. Not only have the US’s so- called bombing attacks on the Islamic State been shockingly ineffective, but now that Russia has begun her own bombing of ISIS, the US has gotten hopping mad.

As revealed here,  the US has been behind ISIS for some time now. So if ISIS is now deploying chemical weapons, one must ask if the US is also behind this development.

The US’s repeated claims that other countries are using BW and CW must be viewed in the perspective of its own activities. When the US changed its domestic legislation to give itself immunity from violating its own biological weapons laws,  it was done so apparently to grant itself leeway to deploy a country-wide bio/chem attack, via this delivery system.

The US has now been caught red- handed in another covert program, facilitated by a secret handshake with selected pharmaceutical companies, to supply pre-determined targets with “imposter pharmaceuticals.” These imposter pharmaceuticals, which come in the same packaging as ordinary pills, will cause heart attacks/strokes in those who unwittingly consume them.

Recently, this reporter contacted the Chemical Weapons Convention at The Hague. The communication, sent to the media contact at the CWC, is herein duplicated in full:



I am contacting you with information that will best go to the leadership at the Chemical Weapons Convention.

I have in my possess a covert chemical weapon, which has been placed into what appears to be a normal pharmaceutical, an antibiotic manufactured by a subsidiary of a US pharmaceutical company. Upon ingestion, an individual would likely experience a heart attack or stroke. Not the usual effect of an antibiotic…

As a reporter, I have covered extensively issues related to violations by the United States of the Biological Weapons Convention. I also participated in the BWC Review Conference which took place in Geneva in 2011. What I have in my possession points to a violation by the US of the CWC. It is my understanding that such imposter pharmaceuticals have been used to terminate the lives of a number of vulnerable individuals in nursing homes and that these pills are also occasionally deployed in a covert program to eliminate political targets.

I currently write for New Eastern Outlook and am based in Latin America. I am desirous of getting to you the sealed container of these pills, as proof of my allegations.

I will look forward to your prompt reply.

Janet Phelan


Indian doctors sue Bill Gates for harming children with deadly ‘humanitarian’ vaccines

If Monsanto, the most evil corporation in the world, were a person, his name would be Bill Gates. Yes, the Microsoft founder-turned-icon of Third World humanitarianism is an absolute crook, and an utterly vile one at that. Reports indicate that Gates’ many crimes against humanity in the form of illegal vaccine testing on innocent children are finally being addressed in a new lawsuit filed by the Indian government, which seeks to stop this demon of death from killing any more babies.

The Supreme Courts of India are currently conducting an extensive investigation into the Bill & Melinda Gates Foundation’s devious actions abroad, which mainly involve testing deadly vaccines on poor, and oftentimes illiterate, children in developing nations without informed consent. According to Health Impact News, the case focuses specifically on illicit human experimentation that occurred with the two available vaccines for HPV, Cervarix (GlaxoSmithKline) and Gardasil (Merck & Co.).

Back in 2009, the Gates Foundation quietly funded trials of Gardasil on some 16,000 tribal school children living in Andhra Pradesh, India. According to a report published in Economic Times India back in August, many of the children fell violently ill not long after receiving the vaccine, and at least five of them died.

In a separate trial of Cervarix that took place around this same time, also funded by the Gates Foundation, an estimated 14,000 tribal children in Vadodara, Gujarat, were vaccinated for HPV. The result of this trial was two children dead and possibly hundreds of others severely injured. In both trials, many of the consent forms used were obviously forged, and many of the children’s illiterate parents were coerced into signing consent forms with their thumbprints, not really know what they were doing.

A petition condemning these atrocious crimes against humanity notes that the Gates Foundation, as well as the World Health Organization (WHO) and the Program for Appropriate Technology in Health (PATH), both of which supported the trials, were “criminally negligent” for testing deadly vaccines on “a vulnerable, uneducated and under-informed population [of] school administrators, students and their parents who were not provided informed consent or advised of potential adverse effects.” …