A Reflection on the 2008 Global Financial Crisis

What happened on Wall Street in September 2008, with the financial and banking collapse, led to the downfall of the entire global capitalist banking system. This was, in reality, a clear indication of the failure of the unipolar system in global politics, which led to confusion in both the economy and politics.

For an observer of the global situation, the cause of this collapse can be traced back to six main factors:

1. The Credit Card System

The credit card system, which is granted based on monitoring an individual’s financial history and according to what is indicated by reports from credit bureaus, often does not rely on any physical guarantees for opening an account or increasing its limit. Instead, it depends on the financial behavior of the customer, including their commitment to making payments on time without delay. These behaviors are reviewed quarterly or semi-annually by the concerned company or financial institution, and based on these reports, the credit limit is increased in a studied manner and in accordance with the customer’s annual income.

2. The Economies of Emerging Asian Countries

Several Asian countries, such as China, Malaysia, Indonesia, and others, have become competitors to American industries at a very low cost due to lower wages and raw material prices compared to American industries. This had a significant impact on the deterioration of the U.S. economy and the bankruptcy of many companies in the United States, such as the automotive and electronics industries, which do not exceed 25% of the cost in Asian countries compared to their counterparts in the United States. Additionally, these countries have replicated American products with a high level of precision. A visitor to the Chinese village in New York, Las Vegas, or Atlanta can observe the truth of these matters.

3. Jewish Control of the Global Financial System

The control of Jews over the global financial system through their dominance of banks, financial institutions, industries, and media allows them to raise or lower interest rates in accordance with their own interests. When assets are in their hands, they tend to raise interest rates, with many justifications to support it. Likewise, if assets are not in their hands, they lower interest rates to facilitate the process of returning these funds and assets to their control. They certainly do whatever it takes to achieve this goal, especially when we know that the media empire with its various means, whether written, audio, or visual, is under their control, such as CNN, FOX NEWS, and many daily and weekly newspapers, all operating under the Jewish lobby’s influence. A clear example of this is what was warned and predicted by the late U.S. President Benjamin Franklin, who said: "In any country where Jews settle in large numbers, they destroy the morals and spirit of the nation, causing its economic integrity to collapse, and they isolate themselves and refuse to integrate. They also mock and belittle the Christian religion, upon which this nation was built, by opposing its teachings and prohibitions… They establish a state within a state, and when resisted, they attempt to strangle this state financially... just as they did in Spain and Portugal." He goes on to say, "If you do not stop them, within 200 years, our grandchildren will be working servants in their farms and fields... while they sit in their financial palaces, rubbing their hands in glee. I warn you, gentlemen... If you do not stop the Jews and avoid them at all times, your children will curse you in your graves."

Gentlemen, let the Jews be born wherever they are born… Even if their generations are born far from Asia, they will still be the same. Their ideas do not align with the ideas of Americans… even if they live among us for ten generations… A tiger cannot change its stripes… Jews are the threat to this country if allowed to enter, and they must be kept away by this Constitution.

4. The Bankruptcy System

The bankruptcy system, which is a separate system with legal principles and dedicated courts, has specialized lawyers. In short, it is a system or law created to protect thieves, fraudsters, and swindlers, and it was undoubtedly created by the Jews. When an asset is seized, it is typically seized from the business whose bankruptcy has been declared, while personal accounts and other types of businesses under different names are excluded from this seizure. This loophole allows the thief to transfer all assets of the bankrupt business into their personal account, then declare bankruptcy and go to the bankruptcy court. In this way, they can escape the law legally. It is as if they say: "This is my bankrupt business, and these are its assets. Take everything you find," of course, they will find nothing.

5. Globalization and the Market System

It is certain that globalization, combined with the freedom given to economic institutions and economists to formulate their plans as they wish, and without government oversight, alongside the government’s withdrawal from economic regulation and leaving the task of economic correction to the institutions themselves, has led to this collapse and at such a rapid pace. A clear example of this is the Chinese economy, where the government still exercises regulation and intervenes when necessary. As a result, China has a surplus of $2 trillion, while the United States has a deficit greater than that. These are two models that must be seriously considered, and future dealings should be based on this approach. There must be a return to government oversight of the economy to avoid any further economic collapse that could lead to a recession, as happened in the United States in 1929, known as the Great Depression.

6. The Crusade Declared by President George W. Bush

In 2001, following the bloody events of September 11, President Bush declared his war on Islam in the name of the war on terrorism, opening several fronts, starting with Afghanistan, then Iraq, and eventually Lebanon, where the war became an American-Iranian proxy conflict. The catastrophic fall of the political empire led to the global economic collapse. It seems that President Bush did not read history carefully… All empires that collapsed did so due to the numerous wars they fought. The cost of war is exorbitant and has a severe impact on the national economy, and this is exactly what has happened, with more to come.

Hekmat Al-Mustarihi
hekmat@only-solution.com

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