Wall Street Insider: Complete January 2012 Interview
Both parts of our January 2012 Interview with Wall Street Insider…
(Originally published in two parts on January 7th and January 8th, 2012)
UM: So you called me here directly and I believe I detected more than a bit of frustration in your voice over my recent stories involving Ron Paul. Is that correct?
WSI: Yes – quite correct. With all due respect…you are absolutely 100% wrong in your concerns over the Ron Paul campaign – or at the very least, wrong in your seeming dismissal in some of the issues he has quite correctly raised regarding the imminent dangers to America.
UM: Even if that were true, why Ron Paul? There appears to be no real path for him to win the nomination, and if he runs as a third party candidate he would most likely not win there either. I am confused why someone in your position…why the concern over Ron Paul of all people?
WSI: I am not concerned over Ron Paul – I am concerned over
your coverage of Ron Paul and how you are wasting precious time and resources attempting to discredit Ron Paul. If -name withheld- set you off in that direction…they were incorrect in doing so and I would urge you to question their motivation.
UM: Right-right…you tell me to watch out for their motivations. They tell me to watch out for your motivations…enough of that sh-t ok? How about we just focus right now, entirely, on the reason behind you calling me in to talk about Ron Paul. I don’t get it. Why would you of all people make what was basically a demand that I come up here to listen to you defend a candidate who has repeatedly voiced his disgust over Wall Street? It doesn’t add up.
WSI: I would beg to differ – not adding up is exactly the reason for my concern – a concern that is not so much about your work…or what seems at the moment to be more of an odd obsession, to reveal some silly truth about Ron Paul…I mean George Soros? Really? And even if true – who cares? That kind of information is secondary to the real and crucial value provided by Ron Paul to the national discussion.
UM: National discussion? Right…enlighten me. Please.
WSI: Sarcasm? Is that your tone? If this is to serve its proper purpose I need you listening – and without judgement.
UM: Sarcasm – guilty as charged. But in my defense, I would call it justifiable sarcasm at this point.
WSI: I was told long ago that what you don’t see with your eyes, don’t invent with your mouth.
(Long Pause)
WSI: What you don’t see with your eyes, don’t invent—
UM: I heard you. The first time.
WSI: Yes – you heard…but you are not listening.
UM: Can you hear me now?
WSI: Pardon?
UM: Never mind – get to whatever point this is supposed to be taking us. You want to talk about Ron Paul – my coverage…unfair, whatever – just start there and let’s move this along. I’m really trying to remain respectful here but…I…I’m in no mood to have my time wasted, and traffic was a real b-tch. And -name withheld- has me flying to…just never mind. Get on with it.
WSI: Please refrain from that – those kinds of tasteless expressions.
(Pause)
UM: …Get to your point.
Please.
WSI: I will simply begin with my own words from among our very first discussion – I would like to read those words back to you now. Is that acceptable?
UM: Sure.
WSI: I wish to read that part of our discussion verbatim, to you…to the readers – and could you please include it then in this…as part of this publication? And then I promise, – I assure you, I will explain my concern over your recent treatment over Ron Paul – though I do believe you will begin to grasp that concern when you listen again to what I told you some time ago. All of this that you have been doing…all of the information and hints and…demands from -name withheld- to look elsewhere…you may be suffering from a failure to see the forest for the trees. No disrespect…but your focus lacks…focus in this. And that could prove very detrimental to what you…what we are attempting here.
UM: Start. Begin – read the words. The interview. Was that from late summer? The first one, right?
WSI: That is correct.
(Pause)
UM: Get on with it then…
WSI: Yes…apologies for the length to read – but here it is:
Excerpt from original Wall Street Insider interview follows:
________________________
“Ulsterman: Do you support the Federal Reserve?
Wall Street: No.
Ulsterman: Can you expand on that answer?
Wall Street: That would take it beyond a yes or no response then.
Ulsterman: Just give me a quick summary of why you don’t support the Fed.
Wall Street: That is long bit of history…I will simply say the current Federal Reserve leadership is the single most dangerous contributor to the current economic climate in this country. I would qualify that by also stating not everyone in the Fed agrees with the current leadership position. There is quite a fight going on in-house there.
Ulsterman: Does Ben Bernanke need to be removed from his position at the Fed?
Wall Street: Yes – absolutely.
Ulsterman: Does Timothy Geithner need to be removed from his position at Treasury?
Wall Street: No.
Ulsterman: Why not?
Wall Street: My answer was no. That’s it.
Ulsterman: Do you consider Ben Bernanke more dangerous to the American economy than President Obama?
Wall Street: Yes – the president…the president likely has no clue what Chairman Bernanke is doing…has done, to the financial health of this country. Mr. Bernanke has been a boon to the volatility feeders. We are at the abyss here you know. So many of us know it, but nobody – very few…want to openly communicate that fact. The situation of this country is frightening. I cannot begin to…my words won’t do justice to just how dangerous this situation has become.
Ulsterman: What Bernanke is doing – is it intentional?
Wall Street: I believe so…(pause) yes.
Ulsterman: Care to elaborate?
Wall Street: (Sighs) No…not now. I’m not ready for that.
Ulsterman: What is the abyss? The economy – the economy is at the abyss? The debt?
Wall Street: These cannot be yes or no answers. And I’m getting tired here. I apologize for that, but this needs to come to a conclusion.
Ulsterman: Explain what the abyss is. Briefly. Please.
Wall Street: (Long pause)…Money has an inherent value. The borrowing of money is to have an inherent cost. That relationship is to be a symbiotic one. If you take away one, it can kill the other. —Don’t interrupt me here – if you don’t understand I can’t…I won’t be the one to explain it for you. Not at this time.
Ulsterman: Go ahead – I apologize. Please go ahead…
Wall Street: What the Federal Reserve is doing is killing off that relationship – that critical symbiotic component of a free-market economy. We are on this day a more centralized economy than at any other point in our history. Fiscal contagion can spread from nation to nation with a single click. Trillions upon trillions in value has been wiped out of the market by the printing of money with lessening value. When you wonder why Wall Street has succeeded under President Obama while Main Street continues to struggle is simply because Main Street still exists in some semblance of a free market economy. That relationship between the value of money and the cost of borrowing that value still exists. Wall Street has been allowed to exist outside of that reality. The Fed has made it so, and the result…we are nearing just the beginnings of that result – will be outright economic disaster. 2008? Nothing. 1929? Yes – that is where we are going here. And with that kind of economic chaos – what is soon to follow? Read you history. War. Famine. A total shock to the system, except this time, we have a proliferation of nuclear weapons, countries such as Iran, North Korea, Pakistan, they will be directly involved in this chaos. And of course there is China…the time I could spend on China…
Among the most frustrating things following the collapse of the Soviet Union was the repeated phrase that the Cold War had ended. Not so. China remained. China, who by then was a far greater economic threat to the United States than the Soviet Union – they were conveniently forgotten as part of that Cold War. Our intellectual laziness in that regard has now come home to roost. And we are cutting ourselves. Death by a thousand cuts. Every deficit dollar we print, we come closer to that abyss. We are at 40 or 50 trillion in total debt in this country – and in an economy that is no longer growing anywhere near a pace that can even pretend to accommodate such a debt. The folly of the New Deal and the Great Society and that entire mindset is choking the future of the nation. Literally choking the life out of us. Me, you, our kids, our grandkids…nothing will be left for them but pieces of what used to be, and a world ready and willing to feed off those scraps.
And these labor unions – the shift from private to governmental unionization…the inherent legacy costs of that scenario is simply unsustainable. The free market cannot withstand the attack. It is collapsing all about us now and too many are simply not paying attention. The only hope for our recovery – the only hope, is our ability to grow our way out of this. That growth, along with massive cuts in government spending, is the only way. Nations such as Greece, Ireland, Italy, Spain …they have come to this understanding, but have only been able to do so with the assistance of other nations who in turn are printing their own deficit dollars in order to do so. That situation cannot be sustained can it? And certainly not without growth. Do you know the number of payroll jobs in 1999 was approximately 130 million? That is the same number as in 2011. Zero growth. This economic stagnation is leading to economic decapitation and it is coming sooner not later. It is happening NOW. If this nation does not elect leaders with the political will to do battle with the entitlement status quo, to do battle with the monster that is the Federal Reserve, we are finished. Done. President Obama does not have the political will to do so. Far from it. Nor does he have the understanding of just how dire the situation is. Far from it. More of the same will only lead to the mutual destruction of both political parties and the nation.”
…UM: I understand what you’re saying about debt…about the deficit and the dangers to the country. I don’t understand the link necessarily to that topic and your insistence against my coverage of the Ron Paul campaign. Why the emphasis on Ron Paul? If you don’t think he actually has a chance to win – why the bloody focus on him that is coming from you?
WSI: I already stated that my focus was not on Ron Paul – but rather my focus in on the issues he has and continues to raise. Your attempts to diminish him – and that is exactly what you have been doing. Please don’t attempt to deny that now – that is what you have been doing. By diminishing Mr. Paul – you run the risk of diminishing the crucial issue that is the essence of his campaign. And I don’t believe you fully appreciate the warning I am attempting to convey to you here – the risk of a total and all-consuming collapse of the world economy.
UM: No…I do. The Fed is printing phony money, right? The value of the dollar is diminished to the point where it is no longer worth anything. From there the system falls apart. Yeah – I get it.
WSI: With all due respect – sincerely…no you do not “get it” if that is in fact the limits of your understanding.
UM: How about we go back to Ron Paul, ok? Why are you so concerned about my coverage of him? Why would someone like you give…give any…why would you even care?
WSI: Because I am certain that in your attempts to diminish Mr. Paul you are diminishing the issues he has raised – issues that must be an essential component of the national discussion if we are to avert what will soon be unavoidable and complete economic disaster. You are in essence, doing the bidding of the Obama White House.
UM: You need to explain that one – and right quick.
WSI: You are chasing windmills with all of this Ron Paul – George Soros nonsense. You are making Ron Paul a joke, you are making all of the work you have done to this point – and it is reaching the eyes and ears of those in influence, of that I can assure you – but all of that is now being lost because you have chosen, or you were told…to pursue this ridiculous path of the last few weeks. If you wish to continue sharing time with me such as we are doing now…you must turn off of that path. I will not entertain such nonsense. Not for another minute. It must end – now.
UM: For you to make that kind of demand of me requires a hell of a lot more explanation than you are giving. Enough of the mystery here. The fact is, of all of us involved in this – you are the one who could most easily survive exposure. You can’t argue that. But I’ve more than met my obligation to you and protected your identity out of both honor and respect to you and others involved.
WSI: And I am appreciative of that honor and respect you have shown me. Nothing I have done or said should make you believe otherwise. If that appreciation did not exist – you would have been silenced some time ago.
UM: What?
WSI: Not – that was not intended as a threat. Apologies. What I meant to convey is that you would have found the risk to yourself – the discovery…it would have been made available to others. Your own position would have been likely terminated. You know that would be easy enough for someone such as myself to do. And so – I am…grateful for your willingness to put yourself at such risk. And I have been very careful in what has been disclosed to you for fear of placing you in too great of risk. I hope you understand that…and believe me when I say it.
UM: So you categorically deny that any link to George Soros and the Ron Paul campaign exists? That topic has no merit? No value for me to explore? The potential gaming of the primary campaign – you know the Democrats did that already, right? The McCain the campaign thing, right? Are you denying that took place too? Are you calling -name withheld- a liar?
WSI: Not at all. If they say that is what happened I have no reason to believe otherwise.
UM: So why be so dismissive of something similar happening with the Ron Paul thing?
WSI: Thing?
UM: The damn campaign – the Paul campaign!
WSI: You mean your obsession with George Soros and the Ron Paul campaign?
UM: Yeah – my obsession. Your term – not mine.
WSI: I don’t really care if it exists or not. I don’t believe it does. Please understand – George Soros is a cartoon for the most part. Granted, a well organized one, yes, he does have influence – but the sum total is that of a buffoon. And if he is doing a bit of work with the Ron Paul campaign…I don’t really care – and neither should you. I would be far more concerned with figures such as Leo Gerard and the undo influence they are directly wielding upon the government of the United States. You pursued that for a moment – why have you stopped?
UM: I haven’t stopped…I can’t focus entirely on that all the time.
WSI: You could and you should. The question that now must be answered – is if you will.
UM: Leo Gerard is not…I’ve haven’t seen any new activity from him lately. So I have to look at other stories, other—
WSI: (Interrupts) No new activity? Really? The labor board appointments? Do you have any idea how crucial that is? Do you have any inkling of the all out offensive the unions are planning to take after Barack Obama secures re-election in 2012? He will be a president no longer beholden to the responsibilities of an upcoming election. If you thought his first term has been a disaster for freedom and opportunity in America…my dear boy…open your eyes. Please.
UM: My eyes ARE open. Yes, I assumed there was a connection to Gerard and the labor union appointments. But there was no proof.
WSI: Perhaps you didn’t look hard enough. Perhaps you have been far too distracted with the Ron Paul nonsense.
UM: Once again I’m gonna ask you to explain to me why you are being so protective of Ron Paul? And so damn dismissive of the possibility that his campaign is being used by Soros, or the progressives, the Obama campaign – maybe all of them…that they are using his campaign to create chaos in the Republican primary? Why you don’t think that possibility is worthy of some investigation? Please – explain that to me. Without the mystery. Without the broad economic doom and gloom talk. Just come right out and say it.
WSI: (Smiles) I already told you in quite simple terms that I did not care if the Ron Paul campaign was being manipulated or not by some other person or entity. That possibility is not nearly so crucial as the underlining message that Mr. Paul is bringing to the national discourse – that of a Federal Reserve out of control and consolidating power not only within America, but around the globe. If you wish to see witness of the one-world globalization movement…irrefutable proof that such a thing does in fact exist – you look no further than the Federal Reserve. At this very moment, there are individuals working collectively toward the implementation of a world crisis scenario that will provide the platform for the unification of the Federal Reserve, the IMF, with a strong assist from other such entities as the UN…the climate change movement is involved…those are merely laundering organizations you know…window dressing. Deceptions…climate change, AIDS relief, world hunger relief, disaster relief…on and on and on. The Clintion Initiative…-name deleted- almost let that slip with you recently… each a small portion of the larger puzzle…all the pieces…I have watched over decades as these pieces have been moved into place. And before you wish to insult me – yes, I have put forth time and effort…often at great personal expense, to slow what appears to be an unstoppable force. This is the topic of which I have protected you from. This is the threat underway at this very moment. It has always been…and now it appears ready to reach its intended conclusion. Your Ron Paul – George Soros stories? Rubbish. All of it. Pure rubbish. And I will add this…Congressman Paul, for all of his many other political faults of which I am well aware…the naive – even dangerous, foreign relations views, his rather questionable outlook regarding Israel…all of that is secondary to me when compared against the truth he speaks regarding the Federal Reserve, the collapse of the dollar, and the absolute and horrific chaos that will be unleashed upon the country and the world if the United States does in fact fall into the abyss. It is that message that cannot be diminished! It is that message that MUST be an essential component to the 2012 campaign – whoever the Republican candidate is – they MUST challenge President Obama on that issue. Time and time again. That issue must be raised in this election, and if this country be so fortunate – the next election, and every election after until the doomsday scenario being played out by the likes of Ben Bernanke and others is resolved. By attacking Ron Paul, you attack this issue – the most crucial issue to this presidential campaign, and in doing so, you are unwittingly doing the bidding of Barack Obama and his legion of progressive supporters.
(Long silence)
UM: …And you accuse me of chasing windmills?
WSI: (Shakes head) Ah…you prove my point. You are not worthy of the truth. Now you would mock me?
UM: No – you just laid out a whole lot right there. A whole lot of what I don’t really know at this point. The globalization thing…sure…there is clearly a push by some to move in that direction. But am I understanding you correctly when you say it’s more than just a direction – that there are forces at work right now to enforce this…globalization – if that is the correct term…to force this globalization on us right now?
WSI: I admitted to you of not voting in any election up to this point. I will be voting in this one. That vote is not so much because I feel my one vote will actually make the difference…in the past I have certainly worked in favor of some presidential candidates over others…but I never voted. Until now.
UM: You never fully explained why beyond saying because the stakes were so high for this election. Is that it?
WSI: Certainly – yes. But…at my age…(pause)
…at my age, and if this election…if Barack Obama is re-elected…the country my parents fled to…when they escaped the Nazis who had invaded France…that America…(pause)…that…that…(pause)…forgive me. Apologies. The older I become…the more easily emotions overcome me…
…(sighs)
…Are you familiar with the concept of absolution? I assume you are – it is integral to the Catholic experience, yes?
UM: Yes.
WSI: Consider then my vote…absolution does not play such a part in the Jewish faith, at least, not in the way you are familiar with. But it is the term that best describes what my vote in this election represents to me. It is as much a spiritual act as it is a physical one…if that makes any sense to you. I have forsaken too long the privilege of my vote. My own arrogance…(pause)…my…I have been so damn self-important. This arrogance led me to forsake the gift of my parents…in…they came to America…this country accepted them…(pause) as it has always done. I was given the privilege of being an American. Millions of my people were denied that gift. That blessing. And in my own arrogance, I denied my parents sacrifice in coming to this country. You understand that too, don’t you?
UM: (pause)…Yes…yes I do.
WSI: And so for years I have lived a life of such amazing privilege and opportunity. I have met…you see these photos? They too are symbols of my arrogance. My shameful lack of humility. What have I become? Ah…but that is not the right question for me is it? The question I now continue to ask myself is what am I to be? Whatever time is left to me…what am I to be?
And so in this election…I will for the first time in my life, vote. And that vote will be a form of absolution for my too long denial of full appreciation for my parents’ sacrifice. And it will also be the representation of all the work I am now engaged in to ensure President Obama serves but one term as president – and to then push as hard as I possibly can for the new president to finally at long last initiate the kind of economic reforms in this country necessary to save what little is left of America. I pray it is not too late you know. Those are not mere words. Every day I pray for this country. Every day I pray for the possibility that the current president will be given the wisdom to do what is right, and not be so easily manipulated to do what is so clearly wrong.
Do you pray?
UM: Sometimes.
WSI: I suggest you do so more regularly. A respectful suggestion.
UM: Sure – I’ll keep that in mind.
WSI: Have you ever made the walk from 19th in D.C. to the White House?
UM: 19th? To the White House?
WSI: That’s right.
… It’s a remarkably short walk – even for someone of my age. Can I give you a bit of homework if you don’t mind?
UM: Homework?
WSI: Yes – homework. The look you gave when I was laying out the IMF…globalization…all of that which admittedly, to an outsider, certainly should sound like the rantings of a conspiracy fanatic. I get that. Believe me, I do. You say I could survive exposure far easier than yourself or -name deleated- . Not so. What I just discussed with you…people in my line of work…we don’t openly speak of such things. Ever. Those who do…there is very particular risk involved. Now if someone outside looking in wishes to make those kinds of connections – feel free. But if you are “in the club” shall we say…it would be viewed in very poor taste to do so.
UM: But you told me before…might have been the first time we spoke…you said Wall Street wasn’t some kind of…I can’t recall your exact words…it wasn’t a single entrance club.
WSI: Did I?
UM: Yes – something like that.
WSI: Well, viewed in its entirety – that is correct. I believe I may have been expressing disagreement that Wall Street as a single entity. It is actually far more vast and diverse than that. But…at a certain level…yes, there is far more conformity than we would like to admit.
UM: At your level?
WSI: (pause)…Yes. I would admit to that.
UM: Would you say it’s conformity…or collusion?
WSI: Ah…that is…that is a rather clever question.
UM: How about a less than clever answer…
WSI: No comment.
UM: That’s not clever – that’s cowardly.
WSI: Being called a coward might very well be the nicest thing anyone calls me today! (laughs)
…Now back to that homework assignment.
UM: Sure – what are you up to?
WSI: Nothing dubious here – I simply want you to see something with your own eyes. You can’t see it from a computer, or a map. You need to be there in person. You need to walk it. I’ve made the walk many times over the years. I first noticed it…a short time after the inauguration. The Clinton one…the first one. I made the walk…I was already slower by then…and took the time to look around. It was a bit of an epiphany for me, and I believe it may be for you as well. But you have to see it in person. There is no substitute for that.
UM: I have to go to D.C.?
WSI: Yes – otherwise it simply won’t take.
UM: Take?
WSI: The impact. You won’t get the impact. It would be like the difference between you talking about growing up in Northern Ireland during the Troubles and someone actually experiencing it. Understand?
UM: No…but I will…I’ll consider it. There’s a matter of scheduling, the cost…I’m not sure—
WSI: (interrupts)—forget the cost. My treat. You must make that walk.
UM: From 19th to the White House?
WSI: Yes. 19th and G. 19th and G. You have no idea how many times that phrase has cluttered my mind these many years…since that inauguration…goodness…20 years ago? And if you have the time and patience, please note what bookends the other side of the White House as well.
UM: And if I can’t make the trip?
WSI: Then…our discussions will end here. I believe you cannot fully appreciate the implications of the subject matter without getting what is in my mind, the fully formed visual of one hand serving the other – for that is what is happening at this point.
The servant is now the master…and it has likely been that way for far longer than my own realization.
UM: There you go again.
WSI: Pardon?
UM: You talk in…all of the secretive…I apologize for the term – but “crap”.
WSI: I appreciate your consideration and tone – much improved than earlier. And as I said – I understand your…unwillingness to fully consider what I am trying to convey. To the uninitiated, it does present itself in a less than believable…yes – it sounds like…”crap” as you so willingly put it.
But make that walk. 19th and G.
…then we’ll speak further. And in the meantime, please understand – I am doing all I can to defeat President Obama. More than either yourself or -name deleted- can fully appreciate or I can disclose at this point. I wish for you to know that though – and hopefully believe my telling you it is so. Your opinion…oddly enough…has come to mean something to me.
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