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NEW: HUGE GLOBAL BENEFITS OF THE WANTA PLAN
HORRIFFIC GLOBAL CONSEQUENCES IF IT IS THWARTED
Saturday 2 September 2006 16:09

http://www.worldreports.org/news/20_horriffic_global_con
THE WANTA PLAN: HOW IT WILL TRANSFORM AMERICA'S FUTURE
A SOBERING MACROFINANCIAL AND ECONOMIC CHECK LIST

By Christopher Story, Editor and Publisher, International Currency Review.
World Reports Limited, London and New York: www.worldreports.org
PART ONE OF NEW INTERNET POSTINGS DATED 2ND SEPTEMBER 2006
For Part 2, see Archive Button or the main 'Click Here' report on Home Page.
Part 2 is entitled: NEW: WANTA CRISIS UPDATE + NEW INTELLIGENCE
GEOPOLITICAL INSIGHTS + LEO'S [EARLY] U.S. GULAG SUFFERINGS


The following Notes contrast the truly massive long-term and immediate
benefits of implementation of The Wanta Plan, with the likely catastrophic
consequences of the US authorities' cynical game-playing and bad faith by
delaying/reneging on the accord:


THE MASSIVE BENEFITS OF IMPLEMENTING THE WANTA PLAN:
Prompt implementation of The Wanta Plan Settlement will have the following
minimum consequences:

• The United States Government's finances will be transformed within a matter
of no more than a few years. Within a decade or less, depending on how the
incoming windfall tax accruals are allocated, the US Federal Government will
have paid down its 'background' debt.

• Banks in the United States and abroad which are currently teetering on the
brink of insolvency due to the severe financial knock-on effects of the US
authorities' duplicity in failing to fulfil their solemn undertakings and
obligations concerning the Wanta Plan, will not go to the wall, after all.

Under The Wanta Plan, transactions blocked due to the behaviour of the White
House, the US Federal Reserve and their co-conspirators in the international
and domestic financial communities, will be released and the pressure on the
several banks that currently face bankruptcy, will unwind.

• The $4.5 trillion Settlement with Ambassador Leo E. Wanta represents a
compromise, which leaves the remaining original $23+ trillion, now worth
about $58.5 trillion, uncollected – and lets the co-conspiratorial institutions
in Europe and elsewhere that have long since assumed these funds to be
uncollectable and usable as collateral for their own purposes, off the hook.

Under The Wanta Plan, these funds will not be collected and the corrupt
banks can heave a belated sigh of relief that they will not be held to
account, and their executives will not be arrested, after all. There will
cease to be any further need for bankers fearing exposure to jump out
of their high-rise office or city apartment windows any more.

• Therefore, in the banking sector, EVERYONE WINS – which is why foreign
bankers are clicking their heels in New York waiting to know why these
long-sanctioned arrangements have not been finalised. It also explains why
they are all lined up waiting to do above-board, taxable, on-balance sheet
financing business with Ambassador Leo Wanta and Michael C. Cottrell, whose
financial record, experience and expertise is unrivalled and whose joint and
individual reputations for integrity are genuinely appreciated worldwide by the
powerful parties that matter. These INCLUDE the Chinese, the Russians, the
French, the British and all the foreign partners of importance who have
recognised the significance and benefits of The Wanta Plan.

• The Republican Party – which actually deserves what will befall it if The
Wanta Plan is not executed – will gain a sudden new lease of life, because
it will become free to offer the jaded electorate whatever bribes it fancies,
starting with the abolition of the much loathed Inheritance (or 'death') Tax,
reductions in Income and in Corporation Tax, and whatever further electoral
inducements may be considered appropriate, given that a fresh Government
will be in a far better overall financial position than its predecessors.

This assumes that the Republicans are not relying exclusively on rigging the
election using the vote-tampering methods available to US political parties
due to electronic voting and the vulnerability of the equipment and software
to unscrupulous interference, such as occurred during the General Election
in 2004. (It is possible that the cynical and jaded GOP may be so confident
of its ability to rig all elections electronically that it prefers the comforts of the
prevailing off-balance sheet, tax-free corruption self-enrichment system to
the above-board benefits that will accrue from implementing The Wanta Plan
as agreed but so far deceitfully reneged upon).

• The deficit-financing model will become obsolete. It has hobbled the
United States with ever more onerous taxation burdens which, left
'untreated' by the beneficial consequences of The Wanta Plan, will reach
insupportable and intolerable levels within the lifetimes of current working
US taxpayers, whose prospects are becoming progressively gloomier.

• The US Treasury will cease to be controlled by the Federal Reserve, which is
the situation at present, since the CHIPs are controlled by the Federal Reserve
Bank of New York (FRBNY). Of course the Treasury should be in control of the
Fed, not the other way round. And since the Fed is largely owned by foreigners,
this state of affairs actually means that the Treasury is de facto controlled by
foreign interests, as well. This scandal should be anathema to all Americans.

• The US Treasury will resume its ascendancy as the primary financial
institution in the United States, and the most powerful one in the world.
Its 'need' for the Federal Reserve will dwindle to vanishing point; hence:

• The corrupt Federal Reserve can be nationalised, converted into a central
bank under the control of the US Treasury with appropriate independent
policymaking safeguards, or abolished. There is massive resistance to this
of course; but these are the objective facts of the matter. Aternatively, US
policymakers can simply opt to leave things as they are, which would be
unwise: but it's up to them.

• Infrastructure projects financed by financial flows arising from The Wanta
Plan can be embarked upon without creating any new debt, as is currently
intended*, and from taxation revenues. The rotting infrastructure of the
United States can thereby be renewed in the space of less than a decade.

• A properly funded back-stop welfare system can be devised to ensure
essential living standards for all without incurring debt obligations.

• Economic stimulation can be achieved, if necessary, in a sound and
balanced manner, free of debt creation.

• Because over time the US dollar will be strengthened, the permissive
deterioration of the US balance-of-payments that has become so notorious
under the Bush II Administration, continues. But under The Wanta Plan,
domestic manufacturing and prosperity gathers such positive, sustainable
momentum, that the United States' dependence on foreign sourcing can be
sharply reduced over time by import substitution (as is routinely prescribed
for struggling Third World countries by the International Monetary Fund).
Further, although US external deficits certainly need to be curbed, their
significance as a source of instability is reduced because the beneficial
on-budget, on-balance sheet self-financing of the US Treasury's operations
has reversed the deadening impact of endless deficit financing, which has
become obsolete, so that the overall Federal Budget is constantly improving.

This is because:

• The Wanta Plan harnesses legal dimensions of the fiat money system for
the benefit of the US Federal Budget. By contrast, the prevailing corrupt,
exotic off-budget, off-balance sheet tax-evasive arrangements are guaranteed
progressively to destroy the residual integrity of the US dollar and of both
the USD and the international financial systems, while also depriving the
Treasury of vast tax accruals – a reality to which the perpetrators of these
serial financial crimes are blinded only by their own stupendous greed.

• The stranglehold and power of financial institutions that have grown
fat on a full century of US official deficit-financing short-termism will be
diminished and ultimately broken.

Thus the interests of the big financial institutions diverge from those of
the US Federal Government (if it were to be directed by honourable people,
which is not the case) – with the parasite financial institutions flourishing by
selling and managing the US Treasury's vast and burgeoning indebtedness,
which is constantly expanding for arithmetical reasons and because corrupt
politicians are interested only in short-term electoral considerations.

It is from this sector that the real underlying opposition to The Wanta Plan
stems; for, in order to retain their privileged official debt-management
franchise, the big financial institutions routinely co-conspire with corrupt
office-holders and officials to devise exotic off-balance sheet self-enrichment
mechanisms. This fickle community of interests between the finance houses
and the corrupt office-holders and officials contrasts with the divergence
of interests between the finance houses and the Government sector itself,
which would apply if the Federal and lesser governments and their agencies
were not perpetually in the hands of corrupt operatives and officials.

THE GRIM CONSEQUENCES OF ABORTING THE WANTA PLAN:
Not implementing The Wanta Plan will have the consequences indicated below,
among many others. The primary assumption underlying what follows is that a
wholly irrational and by now shambolic, terminal free-for-all has developed in
which the myriad competing parties seek their own advantage, without regard
for the broader consequences – or if they have any regard for them, place
them on one side while they cynically pursue their own interests first.

This was the prospect at the beginning of September 2006, on the assumption
that, as a result of the Chinese having AGAIN been deceived, double-crossed and
lied to by the US Treasury [see separate NEW posting: check the ARCHIVE button],
they take the drastic action indicated. The US Treasury Secretary, Henry M. Paulson,
was reported to be en route to China, doubtless on a damage limitation mission.

So the following Notes, which summarise the 'worst case scenario' arising
from any non-settlement of The Wanta Plan which must be paid out with the
China payments, assume that the Chinese (both components) will have been
double-crossed by the US Government again on 7th September, with the funds
that are due to them on that date remaining, as usual, diverted and unpaid:

• To begin with, the entire mass of the international financial community
knows about this crisis – and that the American authorities have just lied,
double-crossed and deceived from the outset, that the Full Faith and Credit
of the United States and the Rule of Law in America have collapsed, and that
Bush II Administration officials are behaving like a bunch of arrogant Chicago
gangsters who believe that because the intimidated 'mainstream' media have
failed to pick this story up, they are protected from the consequences of
their serial criminality and duplicity.

• Therefore, the consequences of blocking The Wanta Plan itemised below are
NOT dependent, as the White House may have presumed, upon the continued
suppression of this crisis by the controlled US and UK 'mainstream' media.
On the contrary, the 'mainstream' media, which is being constantly updated
on the crisis, is liable to be caught off-balance by the devastating global
consequences of the Bush II White House continuing to block this beneficial
Settlement. Put another way, 'they won't know what has hit them', and they
will have to scramble to catch up.

• Institutions in the United States and abroad which are currently teetering
on the brink of insolvency due to the severe financial knock-on effects of
the US authorities' duplicity in failing to implement their undertakings and
obligations concerning the Wanta Plan, will go to the wall. To the extent
that these institutions are enmeshed in financial operations using Leo
Wanta's funds or CHIPS credit, he will have a lien on their assets and will
be entitled to lodge appropriate claims in the courts.

• Deceived just once too often by the duplicitous US officials, both the
Communist and the Taiwanese Chinese – who are now, due to US official
ineptitude, working together – order all payments via the Clearing House
Interbank Payment System (CHIPS) in New York to cease (on 14th August, one
of the Chinese parties had already cancelled all its CHIPS payments, having
earlier threatened to do so).

• The Communist Chinese increase the volume of oil traded in currencies
other than the US dollar, following reports from New Delhi and elsewhere in
late August that such transactions had already started. With the failure of
scheduled payments by the American authorities, implying clearly that the US
dollar payments system has ceased to function and cannot be relied upon, the
Chinese Communists decide that they have nothing to lose by switching from
the US dollar for oil payments to other currencies. The Chang-Kai Shek
(Taiwanese) Chinese, who have likewise been deceived, throw all caution
to the winds, and follow suit, in a chaotic, irrational environment in which
their former enemies in Peking are now their friends and the United States
has become their implacable enemy (a development with momentous regional
political repercussions, of course).

• Since President Putin has not been paid the $30 billion he is owed by
Ambassador Wanta under the Reagan Protocols, and has likewise been
deceived, he coordinates oil-trading policy with the Chinese and agrees to
accept currencies other than the US dollar in exchange for exported Russian
energy products. This relaxation is soon applied to all Russian oil and gas
exports, which the Europeans now start to pay for in Euros and sterling.

• The rest of the Trilaterals (Germany/France, Japan and probably Italy and
Spain) progressively abandon the dollar standard and start buying and
selling energy products using currencies other than the US dollar.

• The US dollar collapses by 50% or more. Since other key currencies are now
in greater demand, because they are needed for oil payments purposes, their
massive appreciations reflecting the US dollar's steep devaluation are, if
anything, exacerbated further, given this sudden new demand.

• Since many US imports, including of course oil, continue to be in demand
domestically, US price inflation escalates sharply, followed by interest
rates. Indeed interest rates chase inflation upwards.

• The US housing sector, already in implosion mode, shifts into free-fall,
housing starts collapse, and large swathes of the US economy follow
downwards into unknown territory.

• Unemployment rises steeply, placing added burdens on the welfare
sector which have further cumulative adverse financial consequences.

• Although the countries and blocs that have experienced steep appreciations
in terms of the US dollar can continue for a time to trade reasonably satisfactorily
between themselves, they all encounter increased competition from dirt-cheap
American exports, which now assume the characteristics hitherto associated
with the Chinese 'junk' that the United States has been ravenously importing
from the 60,000+ factories that Western firms have established in China in
recent years (and from the huge continuing Chinese GULAG, which spews out
goods at rock-bottom prices for international markets, given that the labour
employed there is free of charge).

• The steep devaluation of the US dollar boosts US exports over time, in
due course bringing about sharp reductions and then the disappearance
of the country's $800 billion+ annual trade deficit. This process, however,
is subject to the so-called J-curve effect, whereby the US trade deficit
worsens sharply to begin with, given that essential imports in the pipeline
cannot be cancelled and still have to be paid for with steeply devalued
dollars. It is only when these overhang transactions have been unwound,
which can take years, depending on the volume of forward import contracts
placed, that the beneficial effects of the dollar's massive devaluation start to
rebalance the country's external accounts.

The deficit on the current account takes longer to eliminate because the
outstanding debt continues to exist and has to be paid off with steeply
devalued dollars when surpluses appear on the balance-of-payments, which
again may take several years. The immediate impact of the steep devaluation
is therefore greatly to exacerbate the US domestic recession or depression
brought about by the other adverse knock-on effects mentioned.

• Within a short space of time, Western economies, in particular, find that
their exports cannot compete, and their steep currency appreciations, while
curbing inflation and probably delivering price deflation over time, leave
exporting companies unable to compete, forced to lay off staff or to close
down altogether because their overall operations have become loss-making
or uneconomic. There will be much blood on corporate boardroom carpets.

• The US and all other stock markets experience a slump with no historical
precedent, which triggers bankruptcies throughout the business and personal
sectors, throwing very large numbers of families into distress and inducing
a sharp jump in the suicide statistics both in the United States and abroad.
Foreclosures escalate, as do factory and corporate closures and failures.

• The stock market slump and knock-on consequences in related financial
markets spread like a malicious contagion worldwide, with unpredictable
outcomes universally conducive to an initial global slump.

• As reiterated above, the $4.5 trillion Settlement with Ambassador Leo Wanta
represented a compromise, which would have left the remaining original $23+
trillion, now worth about $58.5 trillion, uncollected – and would have let the
co-conspiratorial banks in Europe, Israel and elsewhere that have long since
assumed these resources to be uncollectable and usable as collateral for
their own purposes, off the hook. But since The Wanta Plan has not been
implemented, the entire original $27.5 trillion (now worth about $70+ trillion)
is collectable; and since so much of this money has been stolen, Ambassador
Leo Wanta will wind up owning a sizeable number of large financial institutions,
if the funds are not disgorged as will be required. Alternatively, sizeable banks
will go to the wall, and their supervisory central banks will be obliged to pay
Wanta what these banks owe him, to authorise control to be passed to Leo
Wanta, or else to nationalise the banks in question.

• Chaotic currency realignments proliferate. If one underlying globalist
intention had been to use this contrived crisis to 'call for' a world
currency, this project, like all such globalist forward planning and
conspiracies, turns out to be a monumental failure.

Instead, what has been achieved is that:

• The world currency, financial and trading systems rapidly disintegrate,
leading to the worldwide imposition of foreign trade tariffs and to a parallel
ferocious, no-holds-barred, ruthless scramble for global energy resources
(far more intense than the current scramble) and thus to the Third World War –
if this has not already been triggered as the panic-stricken Bush II White
House has rushed to cover its tracks by swamping them with an orchestrated
global crisis of its own making.

POSTSCRIPT
It is possible, of course, that Henry M. Paulson travelled to China at the
beginning of September not to apologise for his past lies, but rather to
warn the Chinese of the financial and economic consequences if they
retaliate – as was planned in the event of their not being paid out. The
consequences of the dollar's collapse following non-implementation of
The Wanta Plan will necessarily be especially severe for China, which will
suddenly find that the vast US market for its junk goods dries up.

So the rug have been tugged brutally away in a hasty manner that cannot be
controlled. Since Mr Paulson is reported to have lied to the Chinese, it was
hard, at the end of August, to imagine what he could possibly have had to
say to them, during his visit. It is a key mark of the refinement of China's
ancient civilisation that in business dealings, one fulfils one's good faith
undertakings, and that a pledge or agreement cannot be unilaterally reneged
upon, without severe consequences.

US officials may have assumed that their gangland culture would travel, on
the assumption that there is a certain honour among crooks and thieves. But
since the West, and especially Britain and the United States, have made such
an unspeakable mess of their international dealings in recent years, and
Washington has compounded its ham-fisted errors in Iraq and elsewhere by
lying and deceiving its international partners more than has regrettably
been the norm ever since the US military-intelligence complex acquired its
hegemony as a wayward 'state within the state', Mr Paulson will have had to
choose his words carefully, to put it mildly.

Whether he travelled to China to plead for more time to 'restore' the funds
which have been illegally diverted from the relevant CHIPS credits, or else
to tell the Chinese bluntly that even though their funds have been pillaged,
implementing their unspoken threat to abandon the dollar as their energy
payments currency will trigger the Third World War, the meeting will no doubt
have been poisonously unpleasant – judging from the way it looks today.

* In one of the more extraordinary twists of this crisis, The Times, London,
published by the globalist Rupert Murdoch, carried a prominent report in its
business section on 21st August 2006 entitled 'British Groups Stand By as
US Starts to Rebuild', which stated, all of a sudden, that 'British construction and
engineering companies are sizing up an emerging market in Private Finance
Initiative (PFI) projects in the United States thought to be worth $1.6 trillion'.

This 'just happened' to be the same $1.6 trillion that is payable direct
to the US Treasury by way of tax prepaid at 35% on the $4.5 trillion Wanta
Settlement.

It also 'just happens' to be in violation of the Economic Espionage Act of
11th October 1996 [HR 3723], given that it precisely mimics proprietary
information belonging to Ambassador Wanta, and Michael C. Cottrell M.S.,
the Executive Vice President and Treasurer, AmeriTrust Groupe, Inc., which
provides as follows [see also the second NEW posting: check Archives button]:

'Whereas, the President of the United States, having signed H.R. 3723 on
October 11, 1996, has protected this transaction, by allowing corporations
the right to declare their Contracts, Clients, Internal Procedures and
Information, and the transactions they engage in as a Corporate or Trade
Secret fully protected under Economic and Industrial Espionage Laws of the
United States of America and the International Economic Community'.

'Inasmuch, the names, identities, bank coordinates and other identifying
information of persons or entities that are party to this transaction,
contained herein, or learned hereafter, shall be a Corporate Trade Secret
that shall not be disseminated other than as provided for herein, or as
allowed under applicable law. Any unauthorized Disclosure of this private
Transaction, parties to, or other material fact of, shall subject the
violators to Criminal Prosecution'.

Adjacent to the article was a large photograph of a downtown Houston
freeway. Enquiries made it clear that the projects in question appeared to
have been generated from Texas, the headquarters of the Bush Family, and
that such infrastructure projects in Texas alone would be worth an initial
$187 billion. The American Society of Civil Engineers had estimated that
$1.6 trillion needed to be spent over the next five years just to maintain
the United States' infrastructure.

The fact that the aggregate amount being touted here 'just happened'
to be identical to the $1.6 billion windfall tax payment initially due to the US
Treasury under The Wanta Plan suggested that the objective had been not
only to steal the funds but to cover the thefts by means of duplicating 'smoke
and mirrors' lies representing that the exact same amount will have been
accounted for 'on the books' in Private Finance Initiative projects leased
to private sector investors, which will pay the same aggregate amount to the
States for the franchise to manage the projects (such as highways with road
tolls) for, say, 99 years. In other words, the $1.6 trillion would be doubled –
another way of saying that it would be 'accounted for', after the initial
$1.6 trillion had been 'diverted', i.e., as usual, STOLEN. ENDS.