Author and ex-banker John Truman Wolfe argued that the current world economic crisis is an international coup designed to take down the U.S. dollar and install a global financial machine. He named the Global Monetary Authority (GMA) as a "financial dictator of the planet" and the Bank for International Settlements (BIS) in Switzerland-- as the central bank for such entities as the Federal Reserve, Bank of England, and Bank of Japan. In fact, "all 55 central banks on the planet are members of and junior to the Bank of International Settlements," which he described as being above the law.

The idea of the amero replacing the dollar is a "red herring," said Wolfe-- "the global currency that is being rolled out as we speak is the SDR," a fiat currency of the International Monetary Fund. "The simple fact of the matter is that the fiscal economy of the United States has been dished off to a bunch of bankers in Basel, Switzerland," he declared. Their plan is to reduce the size of the US economy and remove the dollar as the world's reserve currency, he continued.

Further, the current crisis in such EU countries as Greece was planned so that the bankers can 'come to the rescue' and push for more international control mechanisms, he said. To counteract the international bankers, Wolfe suggested taking back the printing of money from the Federal Reserve (whom he called "fiscal vampires") and backing US currency with actual products and real estate. He also called for oversight of international banking organizations and their regulations.

Hoagland Update

First hour guest, C2C Science Advisor Richard C. Hoagland commented on such topics as the Japanese space probe Hayabusa's return, and the oil spill in the Gulf. He noted with interest that aboriginal elders had been brought to the site in Australia where Hayabusa's capsule (containing samples from an asteroid) had landed. Regarding the oil disaster, he warned that an even worse catastrophe could be looming if a giant gas bubble has formed at the site of the leak on the ocean floor.