Imperialism Will Not Fall Down Yet

Awan Santosa[1]



Behind The Recurring Crisis

“Those who control money volume of a state are The Real Master of commerce and industry". That is what Garfield -President of USA- who was picked off after having contradiction against the money regulator and banker in USA. Far before that, in 48 AC, Julius Caesar was murdered after retaking the rights of gold coin making from the money merchant.

Lincoln was shot after publishing the currency of "greenbacks", which is interest and debt free from international banker. Jackson, who tried to fight against Second Bank of United States, was tried to be murdered, but it failed. The last, Kennedy was also murdered after releasing EO No. 11110 which gave back the authority of coinage to government, without the involvement of Federal Reserve.

Therefore, the restitution of state on money control in USA is oftentimes paid very costly, because international banker has never stay put. They will prevent every effort to unload debt and interest system, which is forced to be paid by increasing the income tax of USA citizens.

It is true that the money regulator elite has already experienced in multiplying their assets and authority. They are the expert in arranging the correct moment to make over-supply money, dry liquidities, and collecting the asset of bankrupt company as the effect of debt-interest trap and non-sufficient liquidities.

The effort on multiplying the assets –moreover, when it is contradicted- is usually parallel with the financial crisis, paralysis of real sector (depression), entrapment of state on debt, even war. This kind of crisis had already recurred since 1553 and 1815 in English, and successively in 1833, 1866, 1877, 1891, 1907, and 1929 in USA.

The Germinal of Financial Crisis in 2008

Seeing from authority constellation, modus, and its implication to economics of USA and the world, financial crisis in 2008 is not a new issue. Authority constellation in this time is stated by Chomsky as USA neo-imperialism, where USA has the big authority on economics, military, media, and education in world. On the other hand, Petras sees this situation as “The power of Israel in USA”.

Money control in USA today is still in the hand of Federal Reserve, which was ratified at 22 December 1913 when some of Senate Member is in Christmas holiday. The Fed is "owned privately" by private banker elite in London, New York, Berlin, Hamburg, Amsterdam, Paris, and Italy, which is owned by international Zionist network.

The crisis even takes place with classic modus. It is started from USA financial institution that gave so much money (credit) to property sector through various derivative instruments. Although some party has obtruded the importance of regulation, Bush and The Fed are stand still. Finally, as it was warned by Buffett and Krugman, when they are at the due date and the money is not on-hand, hence the “non-performance" debt is unavoidable.

The next process is the appearance of liquidities crisis which leads to financial institution collapse of Wall Street, also Lehman Brothers, Bear Streans, Fannie Mac and Freddie Mac, and AIG which is "integrated".

Crisis implication is goes as usual. USA Government must give US$ 700 billion as bail-out. Afterwards, one by one the bankrupt company asset is forced to be sold, which mean changing the ownership status to money regulator elite. Also, the USA Government is forced to make new debt letter, thus they are deeply entrapped to the financial imperialism.

Consolidation and the multiplying of assets and authority are usually accompanied by liquidities withdrawal constraint in emerging market. The crisis hit the money and capital market and of the other state, which is followed by the change over asset domination of "rushed company".

Company of exporter is at the verge of bankruptcy. The mass job termination is continued by “structural adjustment" on labour wages, which in Indonesia the issues is started by the release of Decree of 4 Ministers.

Imperialism Will Not Fall Down Yet?

This crisis may be interpreted as the end of US imperialism. But it sounds like the matter is still limited to normative expectation. Learning from the previous crisis, “ism-transformation” does not aim to unload power structure. Even after Obama becomes the President of USA, there will be no radical change before there are reposition between State and The Fed.

Financial crisis is not related to the unstable position of international banker, which still hold tight the economic sector of USA with US$ 11,7 trillion of debt. Nothing has change from the owner of The Fed which becomes richer after owning more assets of bankrupt company freely. Meanwhile, the control of economic, politic, military, media, and education in USA and allies are still remaining in their hand.

Their agents still dominate various vital sectors in developing countries - including Indonesia. IMF and World Bank are still free to delude government with its debt. Mass media does not speak louder on the issue. Moreover, economics education institutions remain to have orientation to change their curriculum, teaching, and program.

Meanwhile, there is no agenda of neo-liberalism to be canceled. There is no cancellation of State Owned Enterprises privatization and the Laws which legitimate the privatization of natural resources. There is no write-off of old-debt and cancellation of new-debt. Also, nothing has change from rate regime, foreign exchange regime, and stock exchange regime, which remain to be under the control of their free market ideology.

Monetary and fiscal foundation still also confirms their authority, that is by debt interest and tax. These two pillars remain to deceive small enterprises, worker, and state budget. The Indonesia State Budget bleeding as the effect of fundamental installment and foreign debt interest of 2009 will be paid also by optimizing the tax revenue.

By seeing the fact, it is clear that financial imperialism will not fall down yet. Its implication, in the form of people poverty in the state with rich natural resources, mass unemployment, income unbalance, environmental degradation, and moral decadence which are befalling in developing countries also presumably will not yet end immediately.

Getting Out from Financial Imperialism

The damage which is befalling on human being oftentimes begins with financial subversion effort. International banker ambition to own and to takeover of state authority - after God’s authority-, and they do not care what kind of “ism" that is ran by the state later.

However, subversion must be stopped. All nations must be united in order to get out from financial imperialism subversive. One of the agendas is developing usury-free economic system. Speculative money market and stock exchange must be stopped by coherent state regulation and glorify the God.

In Indonesia, it requires to conduct odious-debt write-off and stop of new debts. Hereinafter, it needs to straighten the food and energy sovereignty, agrarian reformation, and nationalize the strategic asset which is still being dominated by international investor.

Economic Laws such as Oil and Gas Law, Water Resources Law, State Owned Enterprises Law, Sea Transportation Law, and Investment Law, that tend to have subversive character also need to be re-evaluated.

At the same time, economics education requires to be struck from neo-liberalism hegemony which makes the intellectual as "agent" of international capitalist. Education has to be returned to the spirit of Divinity and Indonesian. Moreover, this matter needs to be accompanied with abolition of “Berkeley Mafia " domination in economic ministerial of Indonesia.

Hence, the time of financial imperialism fall down will depend on the strength of confidence, bravery, unity, and our hard effort to change the situation. However, the faster is the best. Wallahu’alam.


December 7, 2008
Yogyakarta, Indonesia

[1] Lecturer at Mercu Buana University of Yogyakarta (www.unwama.ac.id) and Researcher at Center of Economic Democracy Study of Gadjah Mada University (www.ekonomikerakyatan.ugm.ac.id) email: satriaegalita@yahoo.com, personal web: www.awansantosa.blogspot.com, hp. 0816-169-1650