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I am reproducing the full text of Joel Skousen’s critique of World Bank whistleblower Karen Hudes in his November 22, 2013 World Affairs Brief (worldaffairsbrief.com) in response to increasingly bold claims by her and corresponding scrutiny of them.

ANALYZING CLAIMS OF WORLD BANK INSIDER KAREN HUDES

Karen Hudes worked as a lawyer for the World Bank and claims to be a whistleblower revealing massive corruption at the Bank. Everything she says about the situation there is correct:

Think of the World Bank as Enron. The World Bank has issued over $180 billion in bonds on the world’s capital markets, but its financial statements are not accurate. The US Congress has been unsuccessful in resolving this problem, first identified by the Joint Economic Committee in 2005. The World Bank stonewalled Senator Lugar’s and Congressman Van Hollen’s four requests for the advice of the executive search firm following my disclosure of internal control lapses during my interview for General Counsel. I have been fulfilling my professional responsibilities as the World Bank’s lawyer to bring the World Bank into compliance.

But the World Bank did not want to comply, so she became a whistleblower along with several other bank employees like Elaine Coville of Scotland. Together they lobbied Parliament to reign in the World Bank but the political PTB in the US and UK stonewalled and covered up the corruption. The World Bank has hundreds of “directors” giving each of the member countries a tiny say on the Board. But Hudes reveals that many have been blackmailed into going along and not exposing the corruption:

“I have just returned from Holland, and learned there that Messrs. Wijffels and Melkert [the representatives of the Dutch on the World Bank’s Board of Directors] have informed the Dutch public that they were subjected to investigations of their private lives as a form of diplomatic blackmail. According to Mr. Wijffels, other executive directors on the World Bank’s Board have been similarly intimidated.

Within her area of expertise, Mrs. Hudes is right on target. But like many whistleblowers who start to get a glimpse of the globalist control system, she has begun to make statements claiming to understand the much broader globalist conspiracy and that’s where I have a few problems with her claims. Yes, there is a larger global conspiracy against national sovereignty but many of her extraneous claims are outlandish or invented out of thin air.

Actually, I read her as very sincere, so I don’t think she is knowingly lying. But often whistleblowers like Hudes start getting “help” from disinformation experts in government who feed whistleblowers like her false information to undermine their credibility. Here’s a brief review of her other claims (my response in brackets):

1. Financial corruption within the world financial system, and that the World Bank and the International Monetary Fund (IMF) are two similar corruption international organs controlled by the same private financial powers. [TRUE]

2. Those that control the international monetary system also control the media, and people are being brainwashed and deceived about what is really going on. [TRUE]

3. If we could just get one country to expose this, we could turn this around.[FALSE. The PTB have too much control over the high politicians in every Western country, via blackmail mostly.]

5. 40% of our tax dollars go to UK and 60% to the Vatican [FALSE. Yes, the City of London (a city within London, controlled by the international bankers) and the Vatican bank are deeply involved in this international corruption and collusion, but this claim about the UK and the Vatican having first claim on US tax money is ludicrous. The FED keeps the world financial system afloat with new money, but there is no necessity to collar tax receipts and physically ship them overseas. That’s not how anything works in the dark side of globalism.]

6. She claims we are financing our government by selling drugs [Partly TRUE. Old information and no longer true to this degree. Yes, the US still runs the largest international drug smuggling operation, in combination with selected cartels, but that money is now a pittance compared to what our government spends and creates through electronic journal entries, outside of congressional supervision.]

7. She claims the money to UK is war reparations from the 1812 war and that England has to pay off loans the Vatican made in the 1800s to it for war. [FALSE. She’s been reading too many anti-Vatican conspiracy books. My main complaint about many conspiracy books is that the authors claim to know more than anyone could know without being on the inside. And if they are on the inside, then you couldn’t trust what they write anyway.]

8. Lincoln issued greenbacks directly via the treasury and that’s why he was rubbed out [True that he issued greenbacks directly, but False that this was somehow more virtuous and that the bankers killed him for it. Many conservatives think that using the treasury to issue fiat currency is somehow proper, but it isn’t. Any issuance of fiat currency is evil and a theft of private value. Don’t fall for this one. All currency should be redeemable in a physical commodity and the only role of government is to make sure there is no fraud in money.]

9. JFK was killed for erasing the interest on the US debt and trying to cut the FED out of the process. Also that “banksters” are trying to keep us in debt and crash the dollar. [The killing of JFK by the dark side of our own government is a massive conspiracy and nobody knows all the reasons. He was trying to reign in the CIA and the FED, but the PTB are NOT trying to crash the dollar or they would have done it long ago. Yes, they want to keep other countries in debt to the World Bank and IMF so they can dictate and control their economic policy, but that isn’t true domestically. The PTB love deficit spending because it keeps government from having to tax people for evil policies and foreign interventions that the public would resist (due to the high price). Continually increasing debt becomes a threat to their system of not taxing the common person—as default will eventually prohibit any more deficits. But, default is at least 15 years away, so they still have time to play this game.]

10. Board members to the World bank were being blackmailed when they tried to fire Wolfowitz after he gave a huge salary increase to his girlfriend at the bank. [TRUE]

11. She gets into claims that the PTB are using Maritime law to govern property and marriages and that bonds are being issued for each child born, for collateral and control [Completely FALSE. They have more than enough power and control over Congress and the courts and don’t need such archaic legal mechanisms nowadays. Besides, even if this were true a non-insider working in an administrative legal capacity at the WB would never be privy to this kind of admission.]

12. We have 49 out of 50 States that have called for a constitutional convention (Con Con) which is the way to take back our Republic and demand our rights. [FALSE on all counts, and constitutional conservatives would never even get appointed by state governors to serve at the convention—they would stack it with establishment legislators and lawyers and we’d be worse off than when we started.]

13. 170,000 tons of gold in the Bank of Hawaii. The CIA’s purpose is to protect the gold, Vatican controls the CIA. [FALSE and ridiculous. Once again, how could she know this? How do you get from being a lowly admin lawyer at the WB and know all this stuff. It doesn’t come from insider info, but rather from reading too many conspiracy books that are amplifying a few known conspiracy truths and then adding a lot of garbage details to make it appear they have insider knowledge. But there is zero proof nor confirmation of these details.]

14. Obama’s mother was a CIA agent and Michelle fell into a honey trap [seduced], was compromised in a hotel. [FALSE. There’s plenty of dirt about Obama’s background and non-citizen status, but this claim isn’t credible. It tells me a disinformation agent has got her ear and pumping it full of false claims to get her discredited. The claims about the CIA connection are more true about Obama than with his mother, who was a marxist. Wayne Madsen used a lot of circumstantial connections to say that Obama’s mother Ann Dunham worked “on behalf of a number of CIA front operations, including the East-West Center at the University of Hawaii, the U.S. Agency for International Development (USAID), and the Ford Foundation.” The East-West Center had long been affiliated with CIA activities in the Asia-Pacific region, Madsen says, but just because the CIA has at one time or another used these organizations as cover for various agents, doesn’t mean that everyone who ever had any relationship there was also CIA. Bad logic]

15. On the 8th of October there was supposed to be a nuclear bomb detonated over SC—two army officers made sure it was dropped in the sea where it exploded. Then they were fired. 80 generals and top brass are now being fired. These are people protecting the citizens of the US. [This idiotic rumor continues to grow more and more bizarre each week. It’s all false, as I detailed in the October 18, 2013 WAB. Log into the website to view the archives under “Latest Brief.”]

In summary, Hudes is not herself a disinformation agent and I believe her to be sincere, but she’s way beyond her pay grade when she starts repeating junk theories that she reads elsewhere or that are fed to her by disinformation sources. She should stick to what she knows first-hand.”

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Tom WoodsOn the Sunday, January 5, 2014 episode of Exposing Faux Capitalism with Jason Erb, from 8 to 10 PM EST, I intend to provide a full critique and refutation of Tom Woods’ 2013 presentation paper, “Why the Greenbackers are Wrong“.

I find it very revealing that he had more time to prepare this paper than to investigate Bitcoin, for instance, which is a privately-issued alternative to the illusory free market gold standard he and most of his compatriots of the Austrian School keep pushing.

You know what they say — when you’re over the target, expect to get some flak.

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Gary NorthIn response to Gary North’s November 29, 2013 article, “Bitcoins: The Second Biggest Ponzi Scheme in History“:

I hereby make a prediction: Bitcoins will go down in history as the most spectacular private Ponzi scheme in history
– If it were a private Ponzi scheme, it’d be illegal, and would already be prosecuted, just like the Ron Paul Liberty Dollar founder, because of its threat to international banking hegemony.

The coins will never be the money of the future.
– Just like his failed Y2K prediction, that it would be a big civilizational disaster, and wasn’t? Or his prediction that Apple stock was going down after the departure of Steve Jobs, only for it to increase by over 50% in just 5 months?

The best definition of money was first offered by Austrian economist Carl Menger in 1892. He said that money is the most marketable commodity.
– Implies that there can only be one form of money at any time. Currently, the U.S. dollar is the most marketable commodity, meaning that gold isn’t the most marketable commodity, currently, by consequence, isn’t money.

In that book, Mises argued, as Menger had before him, that money arises out of market transactions.
– Yes, and through government fiat, which results in the market transactions.

Now let us look at bitcoins. The market value of one bitcoin has gone from about $2 to $1,000 in a year. This is not money. This commodity is not being bought for its services as money. It is unpredictable to a fault.
– By that measure, gold also isn’t money, since it had an embarrassing 21-year performance, in dropping from $850 USD an ounce in 1980 to below $250 USD by 2001.

Here is the Austrian school’s theory of money. People buy money because it has not fallen in price. But it has also not gone up in price much, either. It is predictable.
– By that measure, gold hasn’t been money since at least 1980

In other words, Bitcoins are not money; dollars are money.
An amazing statement from a gold-as-money promoter.

There has been no challenge from Bitcoins to the reign of the dollar.
– And this is surprising, how? It started in January 2009, so why should anyone expect otherwise?

This Ponzi scheme is not illegal
– An internal contradiction, since a Ponzi scheme, by definition, is illegal.

But the fundamental characteristic of money is its relatively stable purchasing power.
– No, the primary characteristic of money is its ability to function as a medium of exchange

Bitcoins have to have stable purchasing power if they are to serve as money, and they will never, ever achieve stable purchasing power.
– Why not? With the growth of the supply decreasing with over half of a fixed total of Bitcoins mined, the math points to an eventual relatively stable purchasing power in the absence of major government interference.

There has to be an economic justification for a capital investment, and there is no economic justification of buying Bitcoins as an alternative currency.
– Then why is fellow Mises Institute associate, Tom Woods, accepting Bitcoin as payment for his goods and services provided through his Liberty Classroom?

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I’m scheduled to be on fellow Oracle Broadcasting host’s show, Crisis of Reality with Doug Newberry, on February 20, 2013.

I’ve previously made two appearances on the show, on January 9 and 24., where I discussed the staged Alex Jones-Piers Morgan appearance and my critique of Austrian economics, respectively.

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From his March 30, 2006 presentation, which was way ahead of his time, in dealing a devastating blow to the official 9/11 conspiracy theory even before the release of Loose Change Second Edition Recut, and containing a few interesting tidbits I wasn’t aware of.

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