Wednesday, October 22, 2008



By Erick San Juan

Whatever is the real motive of US President George W. Bush for aggressively heading the forthcoming financial summit of the G-7 nations - an off-shoot of the global financial meltdown triggered by the sky-rocketing prices of the world market of oil, may be known only to him alone and perhaps, a chosen few.

Whatever are the intentions of the outgoing President of the world’s most powerful nation, would be highly suspect, considering that in just a few more weeks, the scion of Prescott Bush (the US banker who laundered funds to bank-roll the Nazis in World War II) shall hand over power to (all indications show it’s Democrat Senator Barack Obama of Illinois) whoever gets elected as US President in November 4, 2008.

One event that is sure to happen at the meeting of leaders of the world’s 7 most economically advanced economies, President Bush would put up a spirited employment of some modus, to shroud with some mantles of protection, hoping to prolong the life of the “goose that lays golden eggs” for the United States’ exclusive financial community, particularly the Federal Reserves Board, but over which there is a growing popular demand to end. For this, there is no doubt that he will try to convince the attending world leaders that by conniving with him would be most beneficial to the people of their respective countries.

Why? Of course, Bush has to ensure his own survival and those of his supporters in the US banking community, beyond his eight-year presidency.

But, to achieve that, President Bush must, more than just keeping the shrewd bankers of the US – mostly Anglo, Jews and Germans - at their current command strata and financial dominance over the world, America’s power elite must, first of all, survive the pressures that the new leaders of the United States can adopt as measure in trying to – at the very least - alleviate the sufferings that the bankers-inspired financial meltdown propagated worldwide in their quest for more profits at absolutely minimal, if not costless on themselves. It is imperative that the new US leaders have to mitigate the sufferings currently experienced by Americans, particularly the middle class and the homebuyers and the other world.

The new leaders (very likely led by Obama) have to alleviate the sufferings of the US , especially the homeowners, legions of whom have to either short-sell their homes, or all the banks to foreclose them, whichever means the perceived to be most beneficial to them. Any which way they did to surrender the homes the American borrowers could no longer pay for, these people have to revert to being house-renters.

As the US presidential elections draw closer, more and more people around the globe – not necessarily US citizens and owing to the strong influence of the US government wields over other nations, especially the small ones – get added to the long list of Homo sapiens who are hoping to witness the installation of the first black President at the Whitehouse in the coming new year.

In the Philippines and other third-world nations, every significant event in the US gets so much attention, principally because most of them are indebted to Washington DC . Notwithstanding the eminent denial from government spin artists, the fact remains that up until now, the culture as practiced by Filipinos continue to keep the Philippines at its status as a US colony since the mock battle of Manila bay at the turn of the 1900s. Since then, it is widely perceived that each time Washington DC sneezes, the political temperature in the Philippines naturally get fever-pitch.

In fact, as if demonstrating more enthusiasm than the people of other nations, almost every US Presidential debate and other related public affairs are aired live on Philippine television and widely covered by other media of communications. This, in effect, demonstrates how important US events of that nature are to every Filipino.

The Filipinos’ behavior is understandable because the Philippines , is heavily indebted to the US . Besides, the US still remains the Philippines ’ largest investor. And its’ investors in the Philippines are ranked as the biggest entities repatriating the huge profits they earn from their virtual monopolies here – added to the profits their mother and sibling companies earn from commodities sold to the Filipinos – to their motherland.

In so many ways, many patriotic Filipinos feel that for so long a time, the US has yet to quit treating the Philippines like it were its’ little brown brothers, if not a robot.

Candidly, many Filipinos are hoping that the advent of a new era in US politics, the Americans’ executive directions will lead to the emancipation not just of their own economy, but that freedom will trickle down to their virtual colonies like the Philippines as well.

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