Parallels between the British Empire and the New World Order are striking. The principal difference is that the British crown relied on brute force to achieve its objectives, while the NWO elite mostly use financial terrorism (except for occasional raw power demonstrations, such as in the Gulf War or in Bosnia). The Great Asian Banking Crisis has accentuated both the similarities and the differences between the two empires.

The British Empire was built by colonizing other countries, seizing their natural resources, and shipping them to England to feed the British industrialists’ factories. In the wake of the “red coat” invasions, local cultures were often trampled and replaced by a “more progressive” British way of life.

The Wall Street-dominated NWO Empire is being built by colonizing other countries with foreign loans or investments. Once those countries are firmly in their debt, the NWO financial terrorists then leave them high and dry, begging to be rescued. In comes the International Monetary Fund (IMF). Its bailout recipes—privatization, trade liberalization, and other austerity reforms—amount to seizing the target countries’ natural and other resources and turning them over to the NWO elites—just as surely as the British Empire did by cruder methods.

“We cannot help but question the IMF’s attitude. The IMF is acting as if it is an economic conqueror,” the governing Grand National Party of Korea declared on December 4. Korean newspaper headlines also lamented the country’s humiliation over the $57 billion IMF rescue package. “South Korea has virtually lost its economic sovereignty for the next three years,” said the Joongang Ilbo.

In the wake of the IMF invasions, local cultures are under assault the world over and threatened with replacement by a more progressive. Western (read: materialistic) way of life. Unfortunately, American culture is represented by McDonald’s, Coca-Cola, Nike, and the Hollywood film studios. This culture is no more American than are the multinational companies that happen to have their headquarters in the United States. These “Princes of the 20th Century” honor only one flag—the Almighty Dollar. As a result, Main Street Americans are among the NWO’s exploited victims, just like their brethren in East Asia or Russia.

There is no question that McDonald’s, Coke, Nike, and Hollywood represent the visible symbols of American neocolonialism. They are the innocent looking facades which mask the destructive work of Wall Street’s financial terrorists, who operate deep in the bowels of national economies. “The financial turmoil in East Asia is a case in point,” Malaysia’s prime minister. Dr. Mahatir Mohamad, said on November 24 at the APEC (Asia Pacific Economic Community) conference in Vancouver, Canada. “Two decades of growth was wiped out in two weeks. . . . Vibrant economies have been reduced to begging for aid from the IMF.” Dr. Mahatir added that the free markets were “a recipe for slavery.”

True. But during the post-Cold War market globalization and expansion (1990-1996), the Asia/Pacific region attracted about $375 billion in foreign investments, according to UNCTAD, a United Nations agency. That’s about 74 cents of every dollar the multinational companies had invested in the developing world ($505 billion), and almost a quarter of all foreign investments made in the world during the same period ($1.6 trillion—including the developed countries). The rate of growth of these investments has been among the highest in the world—29 percent annually during the 1990’s, almost double that for the world as a whole (16 percent annually). Then the bubble burst last fall, and the recriminations followed.

“Power corrupts,” Dr. Mahatir lamented. “As much as government can become corrupt when invested with absolute power, markets can also become corrupt when equally absolutely powerful. We are seeing the effect of that absolute power today—the impoverishment and misery of millions of people and their eventual slavery.”

Also true. But this recognition comes too late for East Asia and for Dr. Mahatir, whose country is supposed to host the next APEC conference. Greed and the quest for power have enslaved them. Dr. Mahatir and his fellow East Asian leaders should have thought about this before taking the NWO bait (money). Now that they are a penny short and a day late, remorse won’t save them from the IMF’s brutal collection methods. Witness the quick buckling under of Indonesia, Thailand, South Korea, and even of Japan. The once powerful and petulant “Asian Tigers” are all turning into obedient pets, wagging their tails fast and furiously to please their NWO masters.

But “one man’s loss is another man’s gain.” The enormous flight of capital from East Asia, about $1.3 trillion between mid-August and late-November, has landed mostly on American and European shores. This positive cash flow (from the Euro-American perspective) temporarily helped stabilize the Western stock markets after the October 27 crash.

Bill Clinton, that unabashed champion of the causes of the Wall Street elite, was all smiles at the Vancouver summit. He reveled in APEC’s endorsement of the IMF. Clinton even confidently predicted that he would eventually overcome his recent failure to cajole, bribe, or muscle the majority of the House of Representatives into approving the “fast track” trade bill.

But the victory which Clinton delivered to his Wall Street and big business backers at the APEC summit was a loss for America’s Main Street, especially small American entrepreneurs—by far the most vibrant and productive element of the American economy. They created 21 million American jobs in the 1980’s, while the Fortune 500 companies downsized to the tune of three million people, according to a Wall Street Journal report. For their efforts, these Main Street “eager beavers” are about to be hit again by our NWO-controlled government—to help fund Wall Street’s Asian bailouts. Lest we forget, the IMF is a Western government-supported “bank,” of which the American taxpayer is by far the largest guarantor. When Clinton, Gingrich, and other globalist politicians tell us that the IMF solution is the way to solve the current Asian banking crisis, they forget to mention that about 40 cents of every IMF bailout dollar comes out of the American taxpayer’s pocket, just like they forgot in the Mexican bailout in early 1995.

Thanks to their control of the mainstream corporate media, the NWO elite and their friend in the White House are still able to claim credit for the recent strength of the American economy, while helping themselves to the pockets of the true Main Street entrepreneurs by using public funds to bail out private interests in foreign countries. Our elected officials do not make the calls about using taxpayers’ money for private rescue missions. The NWO’s appointed proxies in the Clinton cabinet do.

Case in point: On October 30, U.S. Treasury Secretary Robert Rubin (a former Wall Street tycoon) reportedly called the top Treasury and White House officials to tell them that he had agreed to contribute three billion dollars of U.S. taxpayers’ money to the IMF bailout of Indonesian banks. Get this—the Treasury Secretary told the President what sort of a deal he had cut with his Wall Street banking pals! This sums up who is really running this country and for whose benefit.

And these Wall Street and Washington hyenas will help themselves to a few more tens of billions of the taxpayers’ dollars before the Great Asian Bailout is over. The money needed to resuscitate other Asian countries could amount to more than $100 billion, double the Mexican rescue of 1995, according to a Business Week report last November. The potential price tag involves not only the $40 billion commitment to Indonesia but an additional $23 billion to Thailand and the Philippines. Financial analysts are also predicting that Korea, with its lack of foreign reserves and a banking crisis sparked by debt-choked companies, will need as much as $40 billion to clean up its mess.

Six of the top 30 corporations in Korea filed for bankruptcy last year alone. If all of the bad loans were written off, the entire equity of Seoul’s commercial banks would disappear. Japanese banks are also on the hook to the “Asian tigers” for some $263 billion. European banks have contributed about $155 billion; American banks, a reported $55 billion.

But the biggest troubles may be brewing in Japan and China, the largest Asian markets. Japan is in line for “a truly world-class banking crisis,” predicted Dr. Morris Goldstein in an interview with the Australian Financial Times. Goldstein, a former deputy head of research for the IMF who is now with the Institute for International Economics in Washington, D.C., said that the “systemic risk” is highest in Japan. Subsequent failures of Hokkaido Takushoku Bank, part of the 100-year old Yamaichi Securities, confirmed Goldstein’s forecast. In late November, Moody’s downgraded the credit ratings of Long Term Credit Bank of Japan, Nippon Credit Bank, Mitsui Trust, Yasuda Trust, and Chuo Trust.

A Jardine Fleming report suggested that the nonperforming loans held by all Japanese banks could account for almost 23 percent of Japan’s Gross Domestic Product—a level surpassing even Thailand’s failures (13 percent). America’s savings and loan crisis was insignificant by comparison. The cost to the public sector of solving that crisis was “only” around 3 percent of the GDP. Fleming estimates that the ultimate cost to the Japanese government will be 11 percent of the GDP, or about $500 billion. Without doubt, that would be “a truly world-class crisis.”

Then there is China, that darling of the globalist elite. During the 1990’s, China attracted $158 billion of foreign investments, more than any other country in the world except for the United States, according to UNCTAD. Japan, by contrast, got about $8 billion during the same period. During the 1990’s, foreign capital spending in China has grown at an annual rate of 52 percent more than three times faster than the average world increase of 16 percent. And the pace of investment in China has been accelerating. In 1996 alone, China received over $42 billion in foreign investments. That’s about one-third of all investments made in developing countries last year. And no wonder. The master bailer had set the bait for the victims of its future bailouts. In September 1996, the IMF predicted that Asia would lead the world in 1997 with an 8 percent GDP growth.

Now that a financial tsunami has hit Asia, analysts and economists are scrambling to lower their Asia forecasts, and investors’ enthusiasm—even in China—is starting to ebb. Foreign investments contracted by about 35 percent in the first 10 months of 1997, in part because China’s top banks have about $90 billion in problem loans. Despite nearly two decades of economic reform, the Chinese state still owns about 30 percent of the economy, employs two-thirds of the urban work force, and accounts for more than 50 percent of industrial assets, according to an October report by the Sunday Telegraph of London. There are more than 300,000 state enterprises in China, and at least half are in debt. To an economist, these behemoths cry out for sweeping reform, the Telegraph concluded. Read: privatization, downsizing, and layoffs, the IMF specialty.

The country is wallowing in excess manufacturing capacity, and real estate in Shanghai and Beijing has been overbuilt. A British tourist recently told me that a member of the Shanghai Real Estate Board enthusiastically proclaimed: “Shanghai property is hot.” To which the Briton replied: “No, Shanghai property is empty.” The newly built malls and commercial buildings which she had visited “were all eerily empty.”

Why? Because foreign investors had talked themselves into spending hundreds of billions of dollars on the basis of the grossly inflated Asian economic growth projections, and because greedy local chieftains had talked themselves into believing that they can buy economic prosperity with borrowed money. Now that the bubble has burst in Asia, both bankers and politicians are talking containment, which is why Clinton agreed at the APEC summit in Vancouver to hold a global conference on the banking crisis.

While the financial elite debate how best to protect themselves by using public funds, much more than jobs and real estate are at stake for China and its neighbors. When factories falter, so do cheap or free education, medical care, housing, and the broader sense of community that is part of urban life. For example, in the industrial city of Tianjin, about an hour’s drive from Beijing, some families have been plunged into poverty almost overnight after being laid off. All this has led the London Telegraph to conclude that “China edges to the brink of a social breakdown” as tens of millions of Chinese workers face unemployment or even starvation. We always hear about these communist victims, but the same fate awaits the tens of millions of workers in South Korea, Japan, Thailand, and Indonesia. They will bear the brunt of the Great Asian Banking Crisis, not the NWO bankers and politicians who caused it. Stories about the human impact of the transnationalists’ financial terrorism have been woefully absent from the front pages of the world’s newspapers.

The recent stories about Asia also do not discuss the role of the big Japanese investors who, with the ailing banks, owned $291 billion of U.S. Treasury bills as of last July (8.5 percent of all bills outstanding). In other words, in today’s intricately interwoven “global economy,” it is virtually impossible that the failure of the Japanese banking system would not affect other countries, including the United States. We have already seen how a stock market crisis which began in Hong Kong soon spread like wildfire around the globe. Even if the fire seems to be temporarily under control, we are evidently not out of the woods yet. Maybe this is why the U.S. Treasury Secretary, in a private letter disclosed by the New York Times on November 13, warned his Japanese counterpart that the Japanese “should not be tempted to export their way out of their troubles.” And a drowning man should keep gulping water instead of swimming.

Rubin is concerned (and rightly so) because one effect of industrial globalization has been a huge American trade deficit, which stood at $192 billion in 1996. If current trends continue, America’s trade deficit with the rest of the world could expand to $250 or $300 billion by early 1999, according to David Hale, a trade economist with Zurich Insurance Group.

As of August, the U.S. trade deficit with China ($5.2 billion) was even bigger than that with Japan ($4.5 billion), or that with Western Europe and Canada combined ($3.6 billion). As of December 1997, our deficit with China was running 30 percent ahead of the previous year’s pace.

So Rubin’s remark seems to have been driven by a parochial concern — losing market share to low-priced imports from Japan or other Asian countries. Yet those are precisely the benefits to consumers which the NWO globalists hailed during the recent debate on “fast track” trade legislation. “Free trade” advocates evidently have no trouble talking out of both sides of their mouths. Another important conclusion to draw from Rubin’s remark is that the Japanese, if they are not allowed by the NWO Empire to export their way out of trouble, may have no choice but to dump their huge U.S. T-bill holdings and other U.S. securities to feed the Nippon banking beast. And if the Japanese pull out of the United States, that would hardly be good news for the stock market, would it?

If you are a Wall Street investor, stand by for a few more roller-coaster rides on the Dow, but if you are a Main Street entrepreneur or worker, brace yourself for the possibility of a global recession. “If it [the recession] spreads [from Korea] to Japan, then it goes all over the world,” a Korean analyst told the Sydney Morning Herald.

What goes around, comes around—especially in globally integrated markets. The United States is no exception, just as the British Empire was not. The only question is if the social unrest caused by the gouging of the NWO elite may also spell the ultimate downfall of the New World Order.