Bill Clinton: Economy Will be OK, Even if Banks Nat'lized

Bill Clinton: Economy Will be OK, Even if Banks Nat'lized @ 12:16 pm by Michael O'Brien

Former President Bill Clinton said that though he believes the Obama administration does not want to nationalize the banks, the U.S. economy will be fine, even if the administration should have to resort to such a measure.

"It's clear that the Treasury Department and the White House don't want to nationalize the banks," Clinton told CNBC's Betsy Quick in an interview aired in portions this morning. "They apparently believe that if the banks are nationalized they will be worthless to the investor, and therefore, they're getting out now."

"I take the administration at its word: they are doing everything they can to avoid having to do a takeover of the very largest banks," he said. "The point I want to make to everybody is: whatever happens, we'll probably be alright, as long as we deal with it this year."

Clinton praised the Obama administration's plan as thoughtful and pragmatic, and also touted the work of Federal Deposit Insurance Corporation (FDIC) Chairwoman Sheila Bair.

Clinton emphasized that the method the administration adopts to assist the banks is not as important as the administration taking decisive action to help the economy this year.

"Nobody thinks the federal government will be the banker of America in the long run," the former president and husband of Secretary of State Hillary Rodham Clinton added.

"As a globalist, [Bill] Clinton promotes "multipolarity" – the doctrine that no country (such as the USA) should be allowed to gain decisive advantage over others."

From a 2003 Washington Post article:

"...a statement [Bill] Clinton made in February 2002, in which he told an audience in Australia, 'This is a unique moment in U.S. history, a brief moment in history, when the U.S. has preeminent military, economic and political power. It won't last forever. This is just a period, a few decades this will last.'

Clinton continued...

'In all probability, we won't be the premier political and economic power we are now' in a few decades, he said, pointing to the growth of China's economy and the growing economic strength of the European Union.

Whether the United States maintains its military supremacy, he said, depends in part on how much those other entities invest in their militaries, and Clinton said working cooperatively is essential to U.S. interests.

But he said he did not want to be misunderstood. 'I never advocated that we not have the strongest military in the world...I don't think a single soul has thought I was advocating scaling back our military.'

Source: Washington Post article from May 2003:
http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&node=&contentId=A62253-2003Apr30&notFound=true

or find his remarks here (Talon News):
Clinton Predicts America's Decline:
http://mensnewsdaily.com/archive/newswire/nw03/talonnews/0503/newswire-tn-050503d.htm

"'We like your president. We want to see him reelected', former Chinese intelligence chief General Ji Shengde told Chinagate bagman Johnny Chung. Indeed, Chinese intelligence organized a massive covert operation aimed at tilting the 1996 election Clinton’s way."

The Idiot's Guide to Chinagate
By Richard Poe
May 26, 2003

CHINA WILL LIKELY replace the USA as world leader, said Bill Clinton in a recent Washington Post interview. It is just a matter of time. Clinton should know. He has personally done more to build China’s military strength than any man on earth.

Most Americans have heard of the so-called "Chinagate " scandal. Few understand its deadly import, however. Web sites such as "Chinagate for Dummies" and its companion "More Chinagate for Dummies" offer some assistance. Unfortunately, with a combined total of nearly 8,000 words, these two sites – like so many others of the genre – offer more detail than most of us "dummies" can absorb.

For that reason, in the 600 words left in this column, I will try to craft my own "Idiot’s Guide to Chinagate," dedicated to all those busy folks like you and me whose attention span tends to peter out after about 750 words. Here goes.

When Bill Clinton took office in 1993, China presented little threat to the United States. Chinese missiles "couldn’t hit the side of a barn," notes Timothy W. Maier of Insight magazine. Few could reach North America and those that made it would likely miss their targets.

Thanks to Bill Clinton, China can now hit any city in the USA, using state-of-the-art, solid-fueled missiles with dead-accurate, computerized guidance systems and multiple warheads.

China probably has suitcase nukes as well. These enable China to strike by proxy – equipping nuclear-armed terrorists to do their dirty work, while the Chinese play innocent. Some intelligence sources claim that China maintains secret stockpiles of chemical, biological and nuclear weapons on U.S. soil, for just such contingencies.

In 1997, Clinton allowed China to take over the Panama Canal. The Chinese company Hutchison Whampoa leased the ports of Cristobal and Balboa, on the east and west openings of the canal respectively, thus controlling access both ways. A public outcry stopped Clinton in 1998 from leasing California’s Long Beach Naval Yard to the Chinese firm COSCO. Even so, China can now strike U.S. targets easily from their bases in Panama, Vancouver and the Bahamas.

How did China catch up so fast? Easy. We sold them all the technology they needed – or handed it over for free. Neither neglect nor carelessness are to blame. Bill Clinton did it on purpose.

As a globalist, Clinton promotes "multipolarity" – the doctrine that no country (such as the USA) should be allowed to gain decisive advantage over others.

To this end, Clinton appointed anti-nuclear activist Hazel O’Leary to head the Department of Energy. O’Leary set to work "leveling the playing field," as she put it, by giving away our nuclear secrets. She declassified 11 million pages of data on U.S. nuclear weapons and loosened up security at weapons labs.

Federal investigators [Cox Report] later concluded that China made off with the "crown jewels" of our nuclear weapons research under Clinton’s open-door policy – probably including design specifications for suitcase nukes. Meanwhile, Clinton and his corporate cronies raked in millions.

In his book The China Threat, Washington Times correspondent Bill Gertz describes how the system worked. Defense contractors eager to sell technology to China poured millions of dollars into Clinton’s campaign. In return, Clinton called off the dogs.

Janet Reno and other counterintelligence officials stood down while Lockheed Martin, Hughes Electronics, Loral Space & Communications and other U.S. companies helped China modernize its nuclear strike force.

"We like your president. We want to see him reelected," former Chinese intelligence chief General Ji Shengde told Chinagate bagman Johnny Chung. Indeed, Chinese intelligence organized a massive covert operation aimed at tilting the 1996 election Clinton’s way.

Clinton’s top campaign contributors for 1992 were Chinese agents; his top donors in 1996 were U.S. defense contractors selling missile technology to China.

Clinton recieved funding directly from known or suspected Chinese intelligence agents, among them James and Mochtar Riady who own the Indonesian Lippo Group; John Huang; Charlie Trie; Ted Sioeng; Maria Hsia; Wang Jun and others.

Commerce Secretary Ron Brown served as Clinton’s front man in many Chinagate deals. When investigators began probing Brown’s Lippo Group and Chinagate connections, Brown died suddenly in a suspicious April 1996 plane crash.

Needless to say, China does not share Clinton’s enthusiasm for globalism or multipolarity. The Chinese look out for Number One.

"War [with the United States] is inevitable; we cannot avoid it," said Chinese Defense Minister General Chi Haotian in 2000. "The issue is that the Chinese armed forces must control the initiative in this war." Bill Clinton has given them a good start.

The Idiot's Guide to Chinagate:
http://www.richardpoe.com/column.cgi?story=125

or,
http://www.newsmax.com/archives/articles/2003/5/26/214938.shtml
(this version hasn't the necessary hyperlinks, but the above doesn't seem to be available any longer)
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Related Stories
Richard Poe, "Chinagate: The Third-Way Scandal" (June 3, 1999)
Christopher Ruddy, "Russia and China Prepare for War: Parts I - VIII," NewsMax.com (March 9 -18, 1999)

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