Monday, August 22, 2011

I Warned You About the National Infrastructure Bank

On August 6, I wrote:
Now a long-time D.C. insider has tipped me off as to how the banksters plan to squeeze the next phase of the budget deal for their own benefit. This insider writes to me:

What hat trick do the “banksters” try next? IMHO, they love to hide their best and biggest tricks in plain sight.

It’s the “national infrastructure bank.” Leading Democrats on the Hill are teeing up a national infrastructure bank to be incorporated into the next budget deal. As an example, Chuck Schumer is proposing using the proceeds from a new, one-year repatriation tax to fund the start up costs of such a national infrastructure bank
Bottom line, the banksters have a key man in place to guide the next budget deal and turn it into a bankster feast. Expect the result to be the National Infrastructure Bank, which will act something like a domestic version of the IMF/World Bank. It will be initially financed via bankster money raising deals (where they will earn huge fees). The actual building of the infrastructure will be done by Obama's union cronies. To make it all work, you, as an average Joe Citizen will play a key role, designed by the National Iinfrastructure Bank, by paying tolls and fees for the use of these government granted monopoly projects.
Now, Mr. Insider, Nouriel Robini, has stopped his defense of the Federal Reserve for the moment to run propaganda for the coming National Infrastructure Bank, he just sent out this barrage of tweets:

12 comments:

  1. effing-a. I just threw up in my mouth.

    ReplyDelete
  2. And people wonder why bitcoin is gaining traction?

    ReplyDelete
  3. Looks like I'm dropping the pick and shovel work on gold and moving my assets into a cement plant. There will be lot's of work. Not. It would be fun to see Dr. Doom's investment portfolio though.

    ReplyDelete
  4. "Chuck Schumer is proposing using the proceeds from a new, one-year repatriation tax to fund the start up costs of such a national infrastructure bank."

    It sounds like a pass through. Corporate taxes go to corporate benefits, very long term, levered, low interest loans, subsidized and backed by Uncle Sam.

    ReplyDelete
  5. The PEU boys are willing to take less than 30% annual returns on PPP infrastructure deals. Annual returns of 15-20% will do.

    ReplyDelete
  6. A NIB is a solution in search of a problem. There is no difficulty financing worthwhile infrastructure projects through the municipal bond market. Though it has its weaknesses (due in large part to non-competitive "negotiated" bids), there is at least a level of scrutiny effected through the credit markets of these issues.

    A NIB would escape even this level of scrutiny and be the personal piggy bank of politicians and the banksters who would play a key role in 'managing' this superfluous institution.

    They're probably all salivating now over the prospects of yet another bank to loot, and one with a direct pipeline to tax revenue no less.

    ReplyDelete
  7. Karen de Coster blogs that the S&P head has stepped down..under pressure?

    http://karendecoster.com/standard-poors-president-ousted.html

    ReplyDelete
  8. This idea that a construction worker is just a construction worker shows both the arrogance and ignorance in academia. Following this line of thinking, a professor of economics is interchangeable with a professor literature and vice versa.

    I love teasing my brother who is a finish carpenter that the President and his followers want to put him to work building roads. He just shakes his head in disgust at the idea that he is regarded as the equivalent of an unskilled road construction worker.

    ReplyDelete
  9. @Lila. Apparently the COO of Citibank is to be the new CEO of S&P. It's almost funny, nearly hilarious and just about the most comical thing I heard about all day.

    ReplyDelete
  10. Like so many of the other things we have seen from our government in the past several decades this is one more that simply screams, "We don't like having to go through all of these policies and procedures that would keep us accountable. We would prefer to hide our criminality behind a layer of anonymity. And so we create a new administrative office that does the things for which we just can't get Congressional approval."

    ReplyDelete
  11. Silly people. NIB would be an entity independent of Congress or Obama. It would be controlled by separate people who decide the infrastructure investment without political influence, and it will ultimately become self sufficient. Lastly, the federal government only pays a small portion of each project in order to leverage private sector investment, ultimately boosting private sector economic growth. People should learn to read about policies before establishing opinions about them.

    ReplyDelete