William Engdahl: The money is pumped into the banks ‘that created this Ponzi Scheme called the subprime real estate securitization bubble back in the earlier part of this decade.”
The Federal Reserve is set to reveal its plans to pump $500 billion (actually $600 billion) freshly-printed dollars into the economy. The move is designed to revive the weakened U.S. financial form and reduce unemployment. But economists warn the strategy will result in the drop of the dollar and a rise in consumer prices. For more insight, RT talks to economic researcher William F. Engdahl.
Frederick William Engdahl (born August 9, 1944) is an American-German freelance journalist, historian and economic researcher.
His first book was called “A Century of War: Anglo-American Oil Politics and the New World Order”, and discusses the role of Zbigniew Brzezinski and George Ball and of the USA in the 1979 overthrow of the Shah of Iran, which was meant to manipulate oil prices and to stop Soviet expansion. Engdahl claims that Brzezinski and Ball used the Islamic Balkanization model proposed by Dr Bernard Lewis. In 2007, he completed “Seeds of Destruction: The Hidden Agenda of GMO”.
Engdahl argued in 2009 that the Earth is cooling, not warming. He claims that global warming, like peak oil, is merely a “scare” and an attempt “by powerful vested interests to convince the world to sacrifice that they remain in control of the events of this planet” Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline.