Share on Google Plus Share on Twitter 3 Share on Facebook 5 Share on LinkedIn Share on PInterest 1 Share on Fark! Share on Reddit 1 Share on StumbleUpon 1 Tell A Friend 6 (17 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats

OpEdNews Op Eds

Double-Feature: "Bradley Manning Verdict Convicts Washington" and "Hiding Economic Depression With Spin"

By       Message Paul Craig Roberts     Permalink
      (Page 1 of 2 pages)
Related Topic(s): ; , Add Tags Add to My Group(s)

Must Read 6   Well Said 5   Supported 5  
View Ratings | Rate It

opednews.com Headlined to H1 8/1/13

Author 12495
Become a Fan
  (404 fans)
- Advertisement -
Source: Paul Craig Roberts

Bradley Manning Verdict Convicts Washington


Bradley Manning's conviction is more conclusive evidence that the US government is illegitimate. Manning's "trial" was equivalent to Joseph Stalin's "trial" of Nikolai Bukharin. It did not take place in a real court with a real jury. The military officer who served as a "judge" was not impartial. Manning was convicted for obeying the US Military Code and doing his sworn duty to report war crimes. There is no difference between Manning's "conviction" and the "conviction" of Bukharin as a capitalist spy. Both trials were political trials.

The absurdity and injustice of these two convictions tells you all you need to know about the governments behind the convictions. The governments are tyrannical. Imagine the US government accusing Manning of aiding the enemy when the US government itself is supporting al Qaeda's attempt to overthrow the Syrian government!

Americans are a gullible people. They do not understand that the "justice system" is corrupted. Prosecutors and judges have no interest in innocence or guilt. For them conviction alone is the mark of career success. The more people a prosecutor can put in prison, the more successful his career. The more judges bend justice to serve the success of the government's case, the greater the probability of promotion to higher judicial office. American "justice" has degenerated. Willingness to corrupt the law has become the highest qualification for appointment to a judgeship or as a US Attorney.

If Manning had been permitted a real trial, possibly jurors might have weighed the evidence. Did Manning obey the Military Code or disobey it? Did Manning serve the public interest or harm it? But, of course, nothing relevant was part of the trial. In American courts today, exculpatory evidence is not allowed into the courtroom.

If a poor person steals a loaf of bread, the government can turn the case into an act of terrorist sabotage. That's more or less what the government did to Bradley Manning.

Hiding Economic Depression With Spin

- Advertisement -


Time is running out for the US economy and the American people. The financial press and economic commentators, with few exceptions, do a good job of keeping this fact from the public.

Consider for example the spin put on the "advance estimate" of the real GDP growth rate for the second quarter announced on July 31. The annual rate of 1.7 percent real GDP growth for the second quarter of 2013 was presented optimistically as an acceleration in real GDP from the first quarter's 1.1 percent growth rate. However, the reason for the "acceleration" in growth is that the first quarter's estimate was revised down from 1.8 percent to 1.1 percent. The second quarter GDP growth rate is also subject to revised estimates. Most likely, the final number will be lower.

Consider also that the reason that real GDP is positive is that nominal GDP is deflated with an understated measure of inflation. The measure of inflation has been manipulated in order to deny Social Security recipients cost of living adjustments. Statistician John Williams (shadowstats.com) reports that if deflated by previous official methodology, GDP growth has been negative since the downturn in 2007. In other words, the "recovery" is just another government hoax.

Another failure of the financial press and economic commentators is the interpretation of the Federal Reserve's policy of Quantitative Easing. The Fed is said to be keeping interest rates low in order to stimulate business investment and the housing market. This explanation is nothing but cover for the real purpose of QE, which is to drive up and keep high the debt related derivatives on the books of the banks too big too fail. Low interest rates pull up the prices of all debt instruments, and the higher prices raise the values on the banks' balance sheets, making the banks look more solvent or less insolvent.

- Advertisement -

The Fed has continued QE for years, despite the policy's failure to revive the economy, in order to hold the banks' collapse at bay in the hopes that the banks would succeed in boosting their earnings sufficiently to get out of trouble.

The Fed's QE policy has been costly for important areas of the economy. Retirees have been denied interest income. This has reduced consumer expenditures and, thereby, GDP growth, and it has forced retirees to draw down their savings in order to pay their bills.

The Fed's QE policy has also jeopardized the US dollar because of the several-fold increase in the number of dollars over the last few years. In order to support bond prices, the Fed has created 1,000 billion new dollars annually over the last several years. The supply of dollars has outgrown the demand for dollars, putting the dollar's exchange value under pressure. To protect the dollar from QE, the Fed and its dependent bullion banks have engaged in ruthless shorting of gold in order to suppress the price of gold. The rapidly rising gold price indicated falling confidence in the dollar, and the Fed feared that this lack of confidence would spread into the currency markets.

By printing dollars to support the banks, the Fed has created a bond market bubble, a stock market bubble, and a dollar bubble. If the Fed stops printing money, not only will the banks' balance sheets take a hit, but so will the bond, stock, and real estate markets. Wealth would be wiped out. No one could any longer pretend that there is an economic recovery.

Next Page  1  |  2

 

- Advertisement -

Must Read 6   Well Said 5   Supported 5  
View Ratings | Rate It

http://www.paulcraigroberts.org/

Dr. Roberts was Assistant Secretary of the US Treasury for Economic Policy in the Reagan Administration. He was associate editor and columnist with the Wall Street Journal, columnist for Business Week and the Scripps Howard News Service. He is a contributing editor to Gerald Celente's Trends Journal. He has had numerous university appointments. His books, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is available (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon


Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Libya - The DC/NATO Agenda And The Next Great War

A Story...The Last Whistleblower

The Road to Armageddon

American Job Loss Is Permanent

Pakistan TV Report Contradicts US Claim of Bin Laden's Death