Thursday, January 7, 2021

THE FASCIST COUP AGAINST DEMOCRACY AND FOR WALL STREET AND THE KLEPTOCRACY AND BANKSTER OLIGARCHY

The fascist coup of January 6

The fascist insurrection in Washington DC—which resulted in the storming of the US Congress, the panicked dispersal of terrified senators and members of the House, the delay of the official validation of Joseph Biden’s Electoral College majority, and even the occupation of the office of House Speaker Nancy Pelosi—is a turning point in the political history of the United States.

The hoary glorifications of the invincibility and timelessness of American democracy have been totally exposed and discredited as a hollow political myth. The popular phrase “It Can’t Happen Here,” taken from the title of Sinclair Lewis’ justly famous fictional account of the rise of American fascism, has been decisively overtaken by events. Not only can a fascist coup happen here. It has happened here, on the afternoon of January 6, 2021.

Trump supporters storm the Capitol, Wednesday, Jan. 6, 2021, in Washington. (AP Photo/John Minchillo)

Moreover, even if the initial effort has fallen short of its goal, it will happen again.

What occurred yesterday was the outcome of a carefully planned conspiracy. It was instigated by Donald Trump, who has been working with a gang of fascist conspirators strategically positioned within the White House and other powerful institutions, departments and agencies of the state. Wednesday’s operation carries with it the overwhelming stench of the Trump sons, close aides like Stephen Miller, and numerous others working behind the scenes within the military, the National Guard and the police.

The conspiracy utilized the well-known techniques of modern coups. The plotters identified the meeting of the Congress to ratify Biden’s Electoral College majority as the propitious time for action. The assault was prepared by weeks of lying claims by Trump and his minions that the 2020 election had been stolen. Senate Majority Leader Mitch McConnell rendered critical service by withholding Republican recognition of Biden’s election for weeks, thus providing time and legitimacy to Trump’s efforts to discredit the election with totally fraudulent claims of ballot fraud.

A majority of Republican congressmen and a substantial number of Republican senators orchestrated Wednesday’s political debate at which the legitimacy of the Electoral College vote was challenged, to provide the necessary pretext for the planned right-wing uprising. The final signal for the storming of the Capitol building was given by Trump himself, who delivered an insurrectionary harangue to his supporters, who—one can be certain—were directed by elements with police, military and paramilitary training.

It has already been widely noted that the fascist gangs encountered virtually no resistance as they stormed the Capitol. In the most critical and vulnerable areas of the Capitol building, the police were hardly to be seen. To politically evaluate the police response on Wednesday, one has only to recall the violence deployed last June against a peaceful anti-police brutality demonstration in Lafayette Park.

Had a left-wing protest been called in Washington to protest Trump’s efforts to overthrow the results of the election, the demonstrators—as everyone knows—would have been met with a massive show of force by the police and National Guard. There would have been police sharpshooters placed strategically on every building in the vicinity of the protesters. Military helicopters and drones would have been circling overhead. The slightest unauthorized movement by the crowd, however peaceful, would have been met with demands for its immediate dispersal, followed within minutes by the launching of barrages of tear gas cannisters. Hundreds, if not thousands, would have been kettled and arrested.

The response of the Democratic Party to the coup has been a pathetic display of political spinelessness. The first hours of the insurrection passed without a single prominent Democratic leader issuing a clear denunciation of the conspiracy, nor did any prominent Democrats call for popular resistance to the coup. Former President Obama and the Clintons, who are followed by millions on Twitter, remained silent throughout the day.

As for the president-elect, Biden waited hours before finally appearing before the public. After describing the attack on the Capitol as sedition, Biden made this extraordinary appeal to the leader of the conspiracy: “I call on President Trump to go on national television now, to fulfill his oath and defend the Constitution and demand an end to this siege.”

Normally, when confronted with an attempt to overthrow the constitutional regime, the political leader threatened by the conspiracy must immediately seek to deprive the traitors of all access to the mass media and a nationwide audience. But Biden, instead, called on Trump to appear on national television—to call off the insurrection he himself had organized!

Biden concluded his remarks with the following clarion call. “So, President Trump, step up.” This bankrupt appeal to the would-be fascist dictator will go down in history as Biden’s “Hitler, do the right thing” speech.

The Democrats, let alone the media, have no intention of exposing the full depth of the conspiracy and holding its plotters and organizers responsible. The effort to cover up the crime has already begun, with the media bloviating on the need for Democrats and Republicans “to come together in bipartisan unity.”

The decision of the House and the Senate, in the evening hours, to uphold Biden’s election is not the end of the crisis.

Appeals for “unity” with the conspirators clear the path for the next effort to carry out a fascist coup d’état. This is the lesson of the invasion of the state Capitol last April by armed fascist thugs in Lansing, Michigan and the subsequent conspiracy in the autumn of 2020 to kidnap and assassinate the Democratic governor of the state, Gretchen Whitmer. The Democratic Party and media quickly suppressed coverage of these crimes and hardly defended Whitmer against the attack. The plotters, thus far, have received little more than a slap on the wrist.

The Democrats’ response to the fascist conspiracy is not dictated merely by cowardice or stupidity. Rather, as representatives of the financial-corporate oligarchy, they are frightened that the exposure of the criminal conspiracy and its political aims would ignite a mass response within the working class that would spiral into a movement against the capitalist state and the interests it serves.

The effort to conceal the conspiracy must be opposed. Workers must take up the demand for the immediate removal and arrest of Trump. He cannot be allowed to remain in office, utilizing the immense power of the presidency to continue his plotting. His retention of the White House represents a massive threat to the people of the United States and the world. Trump still has the power to declare a national emergency and even launch a war. His finger remains on the nuclear trigger.

Nor should his co-conspirators be left in office. The Republican senators and congressmen involved in the conspiracy must be likewise removed from the Senate and Congress, arrested, placed on trial and sent to prison.

The continuing reference by the Democrats to their “Republican colleagues” is itself a mockery of democracy.

The demand must be raised for a public investigation with open hearings, aimed at identifying all those involved in the conspiracy, leading to their arrest and imprisonment.

Absolutely no confidence should be placed in the in-coming Biden administration—assuming that his inauguration is not blocked by a further uprising—to hold the conspirators to account and defend democracy.

It must never be forgotten that Biden and the Democrats represent nothing more than another political faction of the same ruling class. As Obama declared immediately after Trump’s election, the conflict between the Democrats and Republicans is nothing more than an “intramural scrimmage,” i.e., a friendly fight between members of the same team. In a statement issued Wednesday evening, Obama singled out Republicans for praise, writing obsequiously: “I’ve been heartened to see many members of the president’s party speak up forcefully today.” The only purpose of such a statement is to conceal the truth about the extent of the fascist coup.

The events of January 6, 2021 must be taken as a warning. The working class must elaborate a political strategy and plan of action to defeat future efforts to impose a dictatorship.

The political and economic dynamic of capitalist reaction and counterrevolution will continue, even with Trump out of office. This dynamic will not abate after January 20. The Democratic Party, whose congressional and senatorial delegation is stacked with millionaires and people with the closest ties to the CIA and the military, are no less capable than the Republicans of organizing a conspiracy to suppress democratic rights.

In any event, the policies of the Biden administration, which will pursue policies set by Wall Street and the military, will perpetuate and escalate the anger and frustration exploited by the fascists.

The danger has not passed.

It is essential to build a network of rank-and-file committees in factories and workplaces capable of organizing broad-based popular resistance through the mobilization of all sections of the working class.

Above all, workers must understand that the disintegration of American democracy is rooted in the crisis of capitalism. In a society riven by staggering levels of social inequality, it is impossible to preserve democracy.


ALL THESE BANKSTERS KEPT THEIR HEADS AND DID QUITE NICELY UNDER THE BANKSTER REGIME OF LAWYER BARACK OBAMA, LAWYER JOE BIDEN AND LAWYER ERIC HOLDER.

AS ATTORNEY GENERAL OF CALIFORNIA, LAWYER KAMALA HARRIS MADE SURE THAT WELLS FARGO AND 'FORECLOSURE KING' STEVEN MNUCHIN WERE PROTECTED FROM PROSECUTION. BOTH HAVE BEEN VERY GENEROUS TO HARRIS. 

THESE BANKSTER KNOW WHO TO BUY BEFORE THEY START PUMPING IN CAMPAIGN CONTRIBUTIONS AND SPEECH FEE BRIBES.

Big Banks on Wall Street Condemn Protesters at U.S. Capitol

Violent protesters, loyal to President Donald Trump, storm the Capitol, Wednesday, Jan. 6, 2021, in Washington. It's been a stunning day as a number of lawmakers and then the mob of protesters tried to overturn America's presidential election, undercut the nation's democracy and keep Democrat Joe Biden from replacing Trump …
AP Photo/John Minchillo
2:53

The nation’s biggest banks on Wall Street are condemning protesters, who breached the United States Capitol on Wednesday and oppose the certification of the 2020 presidential election results by Congress.

Billionaire and million CEOs of Bank of America, Goldman Sachs, Citigroup, and JP Morgan Chase each made statements denouncing protesters who stormed the Capitol building in opposition to Congress certifying election results for President-elect Joe Biden.

“Today’s appalling events in our nation’s capital underscore the urgent need for all Americans to unite behind one of our most cherished principles: the peaceful transfer of power that has happened without interruption since our country’s founding,” Bank of America CEO Brian Moynihan said in a statement.

“We must move forward together peacefully, respectfully, and with a singular, shared focus on our American ideals,” Moynihan continued. Moynihan is worth an estimated $80 million.

Likewise, Citigroup CEO Michael Corbat, who made $24 million in 2019, said he is “disgusted” with the protesters and said the “scenes are very difficult to watch…”

“I pray this situation can be resolved without further bloodshed,” Corbat said.

JP Morgan Chase CEO Jamie Dimon, worth $1.4 billion, similarly condemned the protesters in a statement.

“I strongly condemn the violence in our nation’s capital. This is not who we are as a people or as a country. We are better than this. Our elected leaders have a responsibility to call for an end to the violence, accept the results, and, as our democracy has for hundreds of years, support the peaceful transition of people,” Dimon said. “Now is the time to come together to strengthen our exceptional union.”

Goldman Sachs CEO David Solomon, worth more than $100 million, wrote that “our democracy has built a reservoir of goodwill around the world that brings important benefits for our citizens.”

“Recently, we have squandered that goodwill at an alarming pace, and today’s attack on the U.S. Capitol does further damage,” Solomon continued. “It’s time for all Americans to come together and move forward with a peaceful transition of power. We have to begin reinvesting in our democracy and rebuilding the institutions that have made America an exceptional nation.”

In the 2020 presidential election, Wall Street’s biggest banks spent about $74 million to get Biden elected against President Trump. Since then, Biden has stacked his transition team with big business and Wall Street insiders.

John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder

In DC, Oligarchy Beats Democracy Every Time

A much higher share of the American public believes that the U.S. government is lying about its knowledge of UFOs than telling the truth about the 2020 presidential election.  How's that for credibility?  

The Big Government–Big Tech–Big Media machine that is invested in removing Donald Trump from office is so confident in its position that it keeps shouting, "There's nothing to see here," and every day, there's more and more to see.  Data scientists with weighty reputations allege that over forty thousand votes for Trump were likely deleted or switched to Biden in Georgia, and they allege that over four hundred thousand votes were removed from Trump in Pennsylvania in addition to the commonwealth's inexplicable reporting of two hundred thousand more ballots cast than people who voted.  In Wisconsin, the state Supreme Court has ruled that two hundred thousand votes were likely illegal but insists that none be purged until each ballot is individually investigated — a remedy that makes it easy to cast a fraudulent vote but quite difficult for Wisconsin to remove it.  These are just a few of the latest examples of 2020's election catastrophe.  

The number of fraudulent votes in play here is huge.  A political class that devotes itself to the religion of science should be overwhelmed by the mathematical evidence for fraud in the 2020 election.  Yet it turns out that even science can be discarded when it proves that Donald Trump won re-election.  Americans are supposed to pretend none of this is real, forget everything they've seen, and accept a Biden presidency as legitimate.  

Meanwhile, former secretaries of defense have begun threatening Trump administration officials for contesting election fraud.  Mitt Romney and Paul Ryan have eagerly joined Democrats to condemn Republican lawmakers for having the temerity to acknowledge increasingly clear proof of widespread vote manipulation in battleground states.  And still no courtroom in the country has permitted any election dispute to be heard on the merits (despite the media narrative claiming otherwise).

If truth were on the side of the government cabal "installing" Biden in the White House, wouldn't the installers welcome debate over the election irregularities for the whole country to see?  Wouldn't rigorous examination of data anomalies dispel doubts about 2020?  Why must the same people who insist that Biden won also work so hard to conceal the evidence that he did not?  And if sunlight is still the best disinfectant for corruption, then why are judges, governors, and former defense secretaries all demanding darkness?

Romney, Ryan, and other pro-Biden Republicans are so upset that anybody would dare challenge suspicious election results that they've deemed legislative debate "dangerous for democracy."  If by "democracy" they mean "rule by the people," then it is quite peculiar that we must silence the objections of a hundred million or more American citizens in order to preserve the people's power.  If half the country believes that the 2020 election was filled with so many voting irregularities and so much provable ballot fraud that nothing about it should stand, does respect for democracy demand that millions of Americans keep their mouths shut?  Silencing the American public in order to preserve democracy sounds a lot like amputating a man's head so that his body stays healthy.  Can it really be true that democracy requires elected representatives to ignore the voices of their constituents and to cease representing them?  If so, defending democracy sure is a tricky business!

Likewise, where were all these former secretaries of defense who now insist that fighting election fraud is a threat to democracy when our country was under attack from within these last four years?  They never sounded worried for democracy when it was established that the Intelligence Community and FBI leadership spied on Donald Trump's 2016 presidential campaign.  They never expressed a belief that democracy was at risk when the former director of the CIA lied to the world for years about a Russia collusion hoax and accused President Trump of being a compromised asset of a foreign enemy.  The FBI, the CIA, and politically biased special prosecutors nearly took down a sitting president, and the illustrious defenders of democracy said nary a word.  

To this day, those same paragons of virtue see nothing strange about Joe Biden using his office to collect checks from China and Ukraine, when a less esteemed onlooker might say Biden's family is severely compromised by foreign powers.  Is democracy threatened if the future president is paid directly by communist China?  Apparently not.  Biden's financial quid pro quo with our nation's adversaries didn't bother democracy-lovers in D.C. in the slightest; what bothered them was the possibility that President Trump might effectively expose it before the 2020 election.  They were so concerned about that possibility that fifty of them signed their names to the lie that the Biden family corruption was nothing but Russian disinformation.  For former intelligence and defense officials concerned that the truth about Biden would ruin his presidential bid, the only way to protect democracy was to engage in a campaign of propaganda meant to influence the outcome of America's "free" election.  When foreign nations meddle in our elections with disinformation, we call it an "attack," but when former intelligence chiefs and generals deliberately do so themselves, they are celebrated by the media as heroes.  Protecting democracy sure does require a lot of anti-democratic fixes!

When all these "democracy-defenders" demand that Americans smother their own common sense in the interests of preserving democracy, it sure seems that it is actually democracy they most fear.  If millions of Americans reject the 2020 presidential election as the product of massive fraud, then how could the American people's demand for free and fair elections constitute anything but "democracy in action"?  On the other hand, if a few hundred officials in D.C. insist on rejecting the concerns of the people, then aren't they abandoning any pretense of "government by the people" in favor of rule by an elite few?  Of course they are.

Democracy's biggest defenders in D.C. would be called oligarchs in any other country.

When our D.C. oligarchs claim that something in the United States is a "threat to democracy," what they mean is that the institutions providing the oligarchy legal immunity and power over the people are in danger.  Exposing and eradicating documented electoral vote fraud sustains healthy, democratic institutions, but exposing how corrupt the 2020 election was threatens the oligarchy's hold on those same institutions.  

Just as Marxist Democrats must enslave the people in order to set them free, the oligarchs ruling from D.C. must ignore the public's grievances in order to strengthen the "democratic system."  It's an arrangement that can last only until enough Americans recognize it as the lie it is.  It's also why fewer and fewer Americans believe anything our government has to say. 

Image via Max Pixel.


World Bank report warns of extended downturn in global growth

The global economy faces at least a decade of low growth, wiping out limited gains in poverty reduction and per capita income growth. In addition, the risk is that a rise in COVID-19 infections, continued stagnant investment or a major financial crisis produced by the escalation of debt could result in an even worse outcome.

That is the scenario set out by the World Bank in its semi-annual report on the state of the global economy issued on Tuesday. It said that at best the world faces a “slow and challenging economic recovery.”

A person wearing a protective face mask as a precaution against the coronavirus walks past stuttered businesses in Philadelphia, Thursday, May 7, 2020 (AP Photo/Matt Rourke)

After a contraction of 4.3 percent in 2020, the bank forecast growth of 4 percent for 2021. However, that is based on a number of assumptions that are already in the process of being shattered.

Its forecast was predicated on “proper pandemic management and effective vaccination limiting the spread of COVID-19 in many countries.” But as World Bank president David Malpass acknowledged, the rollout of vaccinations had already run into problems.

“Even in advanced countries there have been difficulties in pushing ahead with vaccination programs, and that is true in poor countries as well,” Malpass said.

Stronger language has been used elsewhere, with the situation in the US, the centre of the pandemic, being rightly described as “chaotic” and a “mess.”

While he did not use the term, Malpass pointed to what has been characterised as “vaccine nationalism.” He noted that “advanced economies” had reserved vaccines beyond their capacity to distribute them, and expressed the hope that some of these supplies would be freed up for poorer countries.

Even on the World Bank’s most optimistic scenario, the level of global gross domestic product in 2021 is expected to be 5.3 percent below pre-pandemic projection, equivalent to a loss of output of $4.7 trillion.

Growth could be much lower. The report warned that if infections continued to rise—the present situation—and if vaccine rollouts experienced logistical problems—as is now the case—then global GDP may only expand by 1.6 percent this year. If financial stress, caused by rising debt, which was identified in the report as a significant risk, led to major corporate and government defaults then the world economy could contract again in 2021.

The report noted that even if the pandemic is brought under control, its effect on global growth could be “longer lasting than expected.” Debt had surged above already-high levels and although banks were relatively well capitalized “a wave of bankruptcies could erode bank buffers, putting some countries at risk of financial crisis.”

The report said that timely and equitable access to vaccines around the world would “necessitate global cooperation” and that only when the pandemic was contained in all countries “will each country be safe from a resurgence.”

It also emphasised that global cooperation was “critical” in meeting the challenges posed by the pandemic both in bringing it under control and in developing measures to ensure “sustainable and equitable” global growth.

However, here the pious pronouncements of the World Bank run into the two central contradictions of the global capitalist economy: the subordination of all social and health considerations to the demands of private profit, which has meant that no effective measures have been developed to combat the health emergency; and the division of the world into rival nation-states, which has blocked global cooperation and fuelled the growth of antagonisms.

As for “equitable” economic measures, Malpass acknowledged that the stimulus programs in the major economies, based on the massive financial asset purchasing programs of the world’s major central banks, were aggravating social inequality.

“Stimulus mechanisms are working to concentrate wealth at the top rather than adding wealth from the bottom up. People at the bottom are going down even as people at the top are going up,” he said.

This is the predominant global trend. In the major economies, as the working class faces what the World Bank characterises as the worst economic blow outside the two world wars and the Great Depression, the wealth of the financial oligarchy has been boosted by hundreds of billions of dollars as a result of the gusher of free money flowing from the central banks.

Ruling out any prospect for a return to “business as usual,” the report noted that the pandemic was “tipping millions into extreme poverty, and is expected to inflict lasting scars that push activity and income well below their pre-pandemic trend for a long period.”

In more than 90 percent of emerging market and developing countries, the pandemic has caused per capita incomes to fall. For a quarter of these countries, it is “expected to erase at least 10 years of per capita income gains.” Two decades of poverty reduction has come to a halt and in low-income countries, economic activity shrank by nearly 1 percent in 2020, the first aggregate contraction in a generation.

Throughout its analysis of the pandemic, the World Socialist Web Site has emphasised that the pandemic has acted as trigger event, exacerbating the underlying contradictions of the global capitalist economy that had been building up over decades.

This is confirmed by the World Bank report. In his foreword Malpass noted that the collapse in investment in emerging market and developing economies in 2020 followed “a decade of persistent weakness” and that the experience of past crises raised the concern that “investment could remain feeble for years to come.”

“If history is any guide,” the report said, “unless there are substantial and effective reforms, the global economy is heading for a decade of disappointing global growth outcomes.”

However, recent history has already shown that there are no such reforms waiting to be implemented. In fact, the very measures implemented in response to the 2008 crisis—the combination of austerity measures coupled with the injection of trillions of dollars of free money into to financial system—have created the conditions for a debt crisis.

The report noted: “Prior to the COVID-19 pandemic, starting in 2010, a fourth wave of debt accumulation was underway, with the largest, fastest, and most broad-based increase in global debt in five decades.”

The three previous debt waves since the 1970s all ended with widespread financial crises and the major concern in the fourth wave is that it saw a “protracted period of weak investment and slowing growth despite surging debt.”

In other words, the debt has not been used to finance productive activity but incurred to fuel financial speculation.

“The pandemic,” it said, “has made the fourth wave more dangerous by increasing its risky features.” While “unprecedented monetary policy accommodation” has calmed financial markets, “historically low global interest rates may conceal solvency problems that will surface in the next episode of financial stress or capital outflows.”

Taken as a whole, the World Bank report amounts to an indictment of the bankrupt capitalist economic and political order. Refusing, because of their profit interests, to undertake meaningful measures to deal with the pandemic and with their laser-like focus on financial markets, the ruling elites have created a social and economic catastrophe.

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