Summers Summits Summits of Hypocrisy

Some people all they want is power, and will do whatever it takes to get it. Larry Summers is the ultimate example of this. Summers version 2015 just found that the mood is changing, and condemns 100% Summers, version 1990s, when he was Secretary of the Treasury under that class act, Bill Clinton (from dirt poor to dirty rich).

Two immediate family members of Summers were Nobel Prizes in economy.

Summers was part of a clique of young PhDs in economics who studied how to get rich and influential at MIT and Harvard around 1979. Paul Krugman, one of them, lauds them all the time. I sent a scathing comment on the whole mood of economics as the golden calf. It did not get published.

FDR’s Powerful Family Crest: Who Plants, Preserves

FDR’s Powerful Family Crest: Who Plants, Preserves

FDR planted a mighty tree, the separation of money creation from financial conspiracy. Larry Summers uprooted it.

Here is my suggestion for Larry Summers’ Family Crest: Who Uproots, Destroys. Summers uprooted the financing of the real economy, and thus destroyed it. As corruption went up, innovation (true innovation, science based) went down.

Corruption is a barrier to innovation, warns Alina Mungiu-Pippidi, in Nature. Greater scrutiny of public spending is needed if science and technology are to fulfil their potential, she intones. However, there is more pernicious than that: when private spending and practice is deregulated by government.

After, deregulation of private practice is how, around 1620, slavery was made lawful in the future USA.

Another of the Harvard-MIT economist conspirators was Mario Draghi.

All these plotters literally knew each other, saw each other, talked to each other, learned form each other… How to please their masters. Mario Draghi got his PhD from MIT, in 1979. Later Draghi became vice chairman at the financial conspiracy outfit Goldman Sachs, and “trustee” at various USA plutocratic institutions of high repute (Brookings, Princeton, etc.).

Draghi is now in charge of giving money to giant private European banks. So they can become richer: then the money will trickle down to European pigeons, and they can thrive, eating the crumbs.

American plutocrats know and trust Draghi. Europeans don’t know anything about him, except they believe he is European (I know better: plutocrats belong to Hades, not the real world).

Larry Summers was put in charge of removing all regulations that this traitor to the plutocratic principle, or, more exactly, trickle down, Franklin Roosevelt, had instituted in 1933.

What had FDR done?

Basically banks create money. So they are agents of the government. Thus they ought not to intervene all over the economy, and, in particular, finance, without important limits to their powers.

Summers removed these limits.

The effect on High Finance was absolute power, thus absolute corruption.

The green light given to bankers to corrupt all of society had an effect on other mighty economic actors.

Those worthies felt a green light had also been given to them, implicitly: if the bankers could use their money creation capacity mandated by the government, to enrich themselves and their friends to infinity, why not the same for all?

Why could not fossil fuel plutocrats corrupt scientists and the media, and claim it was totally OK to augment CO2 in the atmosphere by

The democrats were in power in Congress starting in 2006: they did not stop Bush. The democrats were in absolute power just after Obama got elected: they pursued the program of rescue of the plutocracy, complete with tax cuts for the hyper rich.

Obama, to get elected, needed to mobilize those who do not usually vote, because they do not believe that whatever they do will change anything.

Nowadays so-called “democrats” in the USA are in a bind: to get their champion elected, they need the champion to mobilize those Obama mobilized, and who got very little in exchange.

Moreover, the plutocracy got entrenched in the meantime. To change this would require a revolution. Re-evolving.

Re-evolution is something the People may support, if it believed in it. To avoid it, it’s called “Populism” (sounds like Nazism, Socialism, Communism, Liberalism, Nationalism, Islamism, all pejorative notions).

Fast forward to the New York Times. A long ode to Summers called “Establishment Populism Rising.” by Thomas B. Edsall. Here is how it starts:

Larry Summers, who withdrew his candidacy for the chairmanship of the Federal Reserve under pressure from the liberal wing of the Democratic Party in 2013, has emerged as the party’s dominant economic policy strategist. The former Treasury secretary’s evolving message has won over many of his former critics.

Summers’s ascendance is a reflection of the abandonment by much of the party establishment of neo-liberal thinking, premised on the belief that unregulated markets and global trade would produce growth beneficial to worker and C.E.O. alike.

Summers’s analysis of current economic conditions suggests that free market capitalism, as now structured, is producing major distortions. These distortions, in his view, have resulted in gains of $1 trillion annually to those at the top of the pyramid, and losses of $1 trillion every year to those in the bottom 80 percent.”

One has to pinch oneself. Summers has of course zero credibility. Trusting him on economics and social questions would be trusting an enemy. Summers put the entire planet on the wrong trajectory. He is part of a coterie mainly centralized on Harvard, which insisted on raping, pillaging, and letting Russia being devoured by plutocrats created ex-nihilo, because, for Harvard types, plutocracy is an absolute good, just as for Saint Louis Catholicism was an absolute good worth killing the world for.

The destruction of the Russian economy (more exactly a lowering of Price Purchase parity, within Russia, of at least 40%) was just one facet of their maelstrom of destruction these USA based public-private plutocrats visited on the world.

The result, in the case of Russia, is the rise of Putin, someone who advocates using nuclear weapons on Warsaw if his conventional attacks get in trouble. Why? Because, as the entire West propaganda and governments lauded, for more than twenty years (time flies), the Rubin-Goldman-Sachs-Summers-Clinton-Greenspan view of the world, Putin just got mad with rage. Rightly so.

But the damage is not confined to Putin. All over the world, from Xi to Assad, to all and any politicians in Brazil, Larry Summers and his ilk preached. They preached that corruption and plutocratization ought to have no limits, as long as the gullibility of We The People went along.

“Forgive your enemies, but never forget their names.”

— President J.F. Kennedy.

The elite is fearing the hatred, which is growing. Even in the naturally rich USA. The rapacious elite wants to marshal the anger, to drive it to a safe place. Safe for itself to keep on enjoying Earth a little bit more, as its feudal domain. It is a race between knowledge and folly.

Patrice Ayme’

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19 Responses to “Summers Summits Summits of Hypocrisy”

  1. Alexandros HoMegas Says:

    Larry Summers and his band of Harvard jews helped the jews in Russia in stealing the former Soviet monopolies, Yeltsin worked for the jews and Putin took their power this Is why the neocons Want to War with Russia.

    • Patrice Ayme Says:

      Hmmm… Well… Yes, a few of these guys do not hesitate to boast of their Jewishness (I learned it by reading them). I am also struck by the fact they are for banks 1000% (generally manned by their friends, turns out). Now I have not made a search to find out how many are Jewish, and if they think it played a role (Sachs is the most notorious Harvard prof who pushed Yeltsin to the plutocratic side… I have no determined his religion…)

      I was struck, that, in prestigious USA universities I knew all too well, some prestigious professors would flaunt their religion. I found that unnerving, out of place.

      I was checking a few things in relation to your comment, and I fell on stuff that made me soft in the head… My (French part of my) family saved more than 100 Jews during WWII, and that’s a long story per se…
      Part of the family was related to Prussian aristocracy (not known for Judeophilia) and French Communism of intellectual type (married together, to boot).

      Anyway, all rather complex. I was sure baffled when I stumbled on the connection between the Nazis and the Warburgs (Judeo-Germano-American bankers of the Nazi type to put it in a few words… And very keen to sue you to the ends of the Earth if one says so… ). But that was just the beginning.

      The other day I was listening to Jacques Attali, self described French Jew, who talks very well, and has been very influential. He himself described the importance of what he called “networks”, making no mystery that was a force of the Jews (and a weakness of the Muslims, he brazenly added).

      Then here is an extract I got from “MRG”, a Catholic Italian fanatic conspiracy or site, to amuse you:

      ” “The Goldman Sachs investment bank is the world’s most powerful and commonly defined, along with Rothschild, Warburg, Barings and other, one of the factions close to the “Anglo-Jewish empires” and therefore outside the control of the “powerful economic -religious “which is the Opera (Opus Dei) to which the pious hand belonged to Antonio Fazio long defended, not surprisingly, by the ecclesiastical hierarchy (dominance today to Opus Dei, whose head is just Benedict XVI).

      “Moreover, the rose of the names of possible successors to Fazio, who has been circulating since the first time [1] did not provide a confirmation for a follower of the Opera, so consuming a strong clash between the Catholic hierarchy at the top and the Jewish lobbies.

      [1] Among others, the most “popular” were: Mario Draghi (World Bank group, Bilderberg , vice chairman of Goldman Sachs), which has since been elected, Mario Monti ( Bilderberg , just “assumed” by Goldman Sachs) immediately self-suspended from competition, Tommaso Padoa-Schioppa (Aspen Institute, the Trilateral Commission – Board elite that links the U.S., Europe, Japan-, Bilderberg ), Domenico Siniscalco (RIIA, the Royal Institute for International Affairs , the government “shadow” UK), Victor Grilli (Aspen Institute), Lamberto Dini (former vice president of the BIS – The Bank for International Settlements – Knight Grand Cross, the International Monetary Fund).

      “In the past the figure of Dragons was the headlines, especially when he took part, June 2, 1992, meeting secretly on board the Britannia, the royal yacht of Queen Elizabeth II of England, off Civitavecchia. On board were representatives of the bank (with bank representatives Barings, Warburg, Barclays, etc.) and financial (as well as Dragons, George Soros and others). In the presence of the Queen Elizabeth, who had occupied the official greetings, he had long discussed the need for a complete privatization of state-state and industry at bargain prices following a devaluation of the lira.

      “Both events occurred early: in September 1992 during the government of Lamberto Dini, the then Governor of the Bank of Italy (Ciampi) delayed a speculation of the pound (the work of Hungarian-American billionaire George Soros [2] ) against pound, thus causing an abrupt and immediate devaluation of 30%. In an attempt to stem the country’s financial and economic meltdown, the government set up to drain the heavy financial and foreign exchange reserves of the Bank of Italy: about 48 billion dollars (almost 100 thousand billion lire).

      “Over the next ten years there have been several ministers of the Treasury and other governments (Andreotti, Amato, Ciampi, Berlusconi, Dini, Prodi, D’Alema, Amato and yet still Berlusconi), but remains in its place Dragons taking the reins of ‘ industry and finance to public participation in the privatization process and managing the process.”

      All I have to say is that conspiracies often backfire. [BTW, “Dragons” is the English translation of Draghi. So it’s “Draghi” they are talking about and accuse him to do to Italy what the Harvard clique advised Yeltsin to do to Russia, with the results we can contemplate…]

    • gmax Says:

      Sure lots of Jews around the New England establishment, especially around the Ivy League. But Krugman says it is anti-Semitism to notice that.

      • Duviel Rodriguez Says:

        “Draghi is now in charge of giving money to giant private European banks. So they can become richer”

        Whats his job? What does he actually do?

        “Basically banks create money. So they are agents of the government. Thus they ought not to intervene all over the economy, and, in particular, finance, without important limits to their powers.

        Summers removed these limits”

        Can you explain in more detail what limits were removed?

        “mainly centralized on Harvard, which insisted on raping, pillaging, and letting Russia being devoured by plutocrats”

        How did these Harvard people let Russia be devoured by plutocrats?
        What power did they have in Russia?

        Patrice you make many broad statements and very sensationalized statements (like one above about Russia) but you do not give me enough facts and numbers that back up your statements.

        • Patrice Ayme Says:

          Dear Duviel: I have several million words out there on two sites. You can find lots of details on X by googling: “Patrice Ayme X”. It works.
          If I gave, in this particular essay, the details you wanted, it would be 1,000 pages long. All these details were given in previous essays, some more than a decade old.
          Draghi is ECB head.
          I view my economics teaching as post-graduate level (considering even Krugman gets it all too slowly).
          Cheers
          PA

        • Alexandros HoMegas Says:

          Yes, its the jews, it should be very clear by now, and those who aren’t jews are working for them.

          • Patrice Ayme Says:

            Well, Alexandros, you should travel more. There are places where Jews simply are not. Until my own 20’s I did not know what a “Jew” was… Simply from where I grew up (where no “Jews” were).

            BTW, many notorious European leaders (I don’t mean Hitler, who was accused to be a Jew by other Nazis, such as Poland Gov. Gen. Franck, after the war!) are NOT Jews. To accuse somebody like Draghi (“Dragons”) to be serving Jews (as he was vice chairman at GS), is too cheap a shot.

            The real problem is the fractional reserve system: that’s what made the power of, say, the Rothschild, as president Jackson was well aware of…

          • Patrice Ayme Says:

            According to the Jews themselves, there are only 11 million Jews in the narrow sense of the term (including 6 million in Israel). Out of more than seven billion evil doers, that’s not much.

      • Duviel Rodriguez Says:

        You guys need to stop with this Jewish witch hunt. Focus on the people and their actions not on their religion.

        Unless you beleive that its entirely a “Jewish conspiracy”

        You are alienating many possible allies by attacking Jews instead of attacking those actual people involved.

        Its not the Jews but it is many Jews and non Jews that are responsible for a lot of the corruption in finance and their buying of governments.

        I get the feeling much of these Jew hate has to do with their success more than anything. Just like with the hate toward America. Mostly jeaolusy.

        I sometimes feel the same why but at least I am self aware of my jealousy toward the Jews.

        • Patrice Ayme Says:

          I do not particularly hunt Jews, nor witches, being an equal opportunity offender. I just related what I noticed. I was involved with high scientific events at some point in a top university when a professor made what were religious declarations (I had no idea he followed a religion, let alone Judaism). That’s all. I also observe what I view as discrimination, in cases like that Jew versus non-Jew. And, as I said I saw Attali, a week ago, expose quietly that “reseaux” (networks) were the essence of advancement in society. I even recorded it, so I can watch it again.

          That there are conspiracies all over, is a fact. In top USA universities, the fact one’s family has go to a university is taken into account that’s how the Obamas got into Princeton and Harvard respectively. This is official policy, not my imagination.

          I am not attacking “Jews” in general. You are not paying attention. As I said, my family saved more than 100 “Jews” (most of them did not practice, I am sure) in WWII. True, some commenters, even outright Nazis, have commented on this site. I do not censor, just contradict with the truth. Real Nazi comments happened long ago, and those people have fallen silent.

          I am not “Jealous” against “Jews” either. The fact that there are lots of Jews in USA academia, and that they do the “network” thing Attali says is a good thing (and just racism as far as I am concerned) is something that I came to understand only after more than a decade in it.

          Where I came from in Europe and Africa, it was simply NOT correct to mention religion. That was true even in the desert among Muslims (where I grew up). My grandparents who saved all those “Jews” never mentioned they were “Jews”. I figured it latter my asking my mom, who absolutely doe not want to talk about the subject (too traumatizing: they ended hunted by the Gestapo).

          If people go around saying they are “Jews”, “Muslims”, or whatever they claim they are, they invite racism, by proclaiming it is a good thing.

  2. EugenR Says:

    Dear Patrice, this Jewish accusation is total non sense. Truth is many jews, probably due to their skills are in banking, but also in academy and not only in economy but in many other subjects. So what. There are many Koreans who own grocery shops in the US cities. In South korea the Koreans run a very successful country with all the spectrum of the occupations such a country needs. The same with the Jews, who run in Israel a very successful country and it couldn’t be so if every Jew there was a banker or academic professor. The European antisemits for centuries claimed, the Jews are capable only for non productive commerce and can’t work in agriculture and can’t be military man. Then the Jews made their state with most advanced agricultural production and one of the strongest armies in the world. Now they are blamed to be to skilful in to many fields.
    If there are proportionally more Jews in posts of influence than other nationalities, maybe they are just more skilled individuals and it has nothing to do with networking and belonging to a unique ethnicity? Buy the way, to my knowledge the Asian origin students, mainly chinese are now the most populous ethnic group in the US universities, definitely they outnumber the Jews. They will be the next generation professors etc. US is lucky to have them. It seems the US education system has difficulties to create these highly committed and skilled students alone.

    • Patrice Ayme Says:

      Dear Eugen: One should say what the “accusation” is. Fact is, I have seen “Jews” discriminate below my (then) uncomprehending eyes. In the USA. At the time, I did not understand it, because I did not conceive of it, especially NOT in high academia. Then I see Attali defending EXPLICITLY “networks” (saying “Jews” like him, he himself said, I have it on digital tape, I can transcribe it, word for word, have an advantage on “Muslims” because “Jews” have the networks, and the “Muslims” do not.)

      I do like Attali a lot. However, although one can see cynically what is, and still fight it.

      In the end, one can just look at the numbers.

      This being said, I prefer to talk, in general, to an intelligent “Jew” than a less intelligent non-Jew, and I have no problem with higher types being rewarded more. Yet, I am fully aware that there is discrimination in formation. So the superiority itself is often the fruit of racism deployed and enforced.

      As it is, right now, I am heavily financing minorities in no way related to me.

    • Patrice Ayme Says:

      European anti-Judaism (I like precision: attacking Arabs on the ground they are afflicted with anti-Semitism, being Semites themselves, is beyond grotesque) was born from Christianofascism. The Romans had struck the Jews only with laws in Israel only. The Christians tried to kill everybody not a Christian, and the Jews survived only because Christ was a rogue rabbi.

      The superiority of (some) Asian students originates in the same way as the Jews, and I have seen them discriminate just as well as the Jews: Chinese professors had Chinese students, got them the best jobs, and the Jews did the same. I did not see that for five minutes, but twenty years. All right, it’s only human, the tribal phenomenon. Americans actually tend to help Americans, etc.

      However, when things get too far out, it’s nuts. One of my arguments for Yellen was that she was a woman, whereas Summers is a man. Who else among the directors of the Fed is a woman. Having men all over is violent discrimination. Notice both are Jews. Also notice Yellen was systematically right, Summers systematically wrong. Etc.

      I say it, as it is. If was it is, is racist, that does not make me racist. It’s confusing the messenger (PBUH!) and the message. That five millions of Jews are so amazingly smart that they are all over USA academia, is roughly the same argument that say a few thousands plutocrats are so amazingly smart, they deserve to have all the power.

      One cannot disprove case by case, of course. But the stats speak for themselves.
      PA

    • Patrice Ayme Says:

      Meanwhile I have to show you ferocious Chechens who killed Nemtsov, according to Putin, who should know, as he was there (hahaha). I mean: there is so much that credulity can stretch…
      PA

      • EugenR Says:

        To be a professor of academie is about excellence of intelect, to be a top plutocrat is about excellence in manipulating political power. The Jews seeme to be inferior in politics, viz the case; Trozky versus Stalin. Trozky handed over to Stalin the red army free of charge. This political impotency of the Jews had also catastrophic consequences in the Waimar Republic.

        • Patrice Ayme Says:

          Well, dear Eugen, I can see you are not in USA academia. I have been in it, all too long. Being a prof is all about power groups. Even Feynman (not a cherub himself) admitted this. And the connection between academia and pro-plutocratic policies is absolute. I discovered this at Stanford, long ago, in the presence of the most sacred names of economics.

          Calling Trotsky politically impotent because he headed the Red Army is rather strange a notion. Hannah Arendt attributed the Jews lamentable situation to the wrong philosophy. BTW, Weimar was NOT a republic, but a “REICH”. Precision in semantics is important. Just like Arabs cannot possibly be “Anti-Semitic”, Weimar truly behaved like a proto-Third Reich, in all the most important dimensions (hence its clashes with the French REPUBLIC).
          PA

    • Patrice Ayme Says:

      BTW, Eugen, you can consult Wikipedia (probably heavily monitored by the Jewish lobby):
      http://en.wikipedia.org/wiki/American_Jews
      Harvard has 30% Jewish students, Brandeis University 56%, etc… Berkeley (“public” university) has 4,000 Jewish students… (it should have less than 400 if proportional to population; so the Jewish over-representation, so to speak is by a factor of ten; at Harvard, or New York University, by factors of 15 and 17 , respectively) This is all the more remarkable as the campus is half Asian or so (in spite of anti-Asian more or less secret quotas…)

      The USA can get away with racism and discrimination, because, to a great extent, the country is so big and rich… that it can afford it.

      However, Jewish economic science (I just concocted the expression, an allusion to the Nazis’ “Jewish science, hahaha) has been thoroughly pro-plutocratic: Summers, ex Sec Treasury, ex president Harvard, was nephew of Samuelson and some other Jewish Nobel eco winner… “Eco” being here rather ironical.

      Once again, Pres. Jackson would understand what I mean: and I am no friend of Jackson (although I have to reluctantly admire him).

      Something about Israel: it does very well… Thanks greatly to EU and USA help (absent that, Israel will collapse, just as the Kingdom of Jerusalem did, and for the exact same reasons)
      PA

  3. EugenR Says:

    There many different networkings in the society. The Jewish one is one of them. I personally find the jews more competitive then colaborating among themselves. It has to be said, that no Jew has become a top political leader in the US. I hope you agree that politics is all about networking. By the way what do you say to the case of

  4. EugenR Says:

    dominique strauss-kahn?

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