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Special Reports Last Updated: Feb 17th, 2010 - 00:36:44

Forget trillions of currency units at stake, try quadrillions and . . .
By Wayne Madsen
Online Journal Contributing Writer

Feb 17, 2010, 00:22

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(WMR) -- WMR has learned from sources inside �The Temple,� otherwise known as the Federal Reserve Bank, that the amount of money that is at risk worldwide is not in the trillions but the quadrillions.

On December 18, 2008, WMR first reported on the �quadrillion� dollar international fraud scheme and its relationship to the Clearstream scandal in France that has prompted French President Nicolas Sarkozy to misuse France�s judicial system to stymie any legitimate investigation into the bribing of French leaders, including Sarkozy, to keep secret the massive laundering and manipulation of cash worldwide. Sarkozy continues to tie up former French Prime Minister Dominique de Villepin in a political vendetta aimed at finding him guilty for investigating Sarkozy and his colleagues� involvement in the massive global financial fraud scheme.

De Villepin was recently cleared of criminal charges of a conspiracy against Sarkozy. Sarkozy, nevertheless, is believed to have misused his power as president to secretly have de Villepin re-indicted through the abuse of the French judiciary. Sarkozy�s forces also forced de Villepin�s wife and two children, both college students, to testify in the trial against the former French Prime Minister. De Villepin likens himself to a French resistance fighter and he has vowed to challenge Sarkozy to rid France of the cabal that has seized control of Paris.

If Sarkozy succeeds in convicting de Villepin, the former French prime minister would be barred from challenging Sarkozy in the next presidential election. The manipulation of the courts and electoral system is a favorite neocon tactic as evidenced by similar operations in the United States, Ukraine, Colombia, Mexico, and other countries against those who threaten the neocon/corporatist domination of the planet.

WMR reported: �WMR has learned from informed sources that French President Nicolas Sarkozy will soon face renewed charges that he received illegal foreign funds through the Luxembourg banking company Clearstream. Luxembourg is a well-known tax haven that maintains strict confidentiality over banking and corporate records.

�Then-French Foreign Minister Dominique de Villepin met with the recently-retired head of French military intelligence Philippe Rondot and EADS deputy director Jean Louis Gergorin. Gergorin told de Villepin that two names on the secret list of French politicians who had Clearstream accounts -- Paul de Nagy and St�phane Bosca -- were pseudonyms for Sarkozy. It was believed by French intelligence that the names came from Sarkozy�s father�s full name, Nicolas Paul St�phane Sark�sy de Nagy-Bosca.

�Clearstream reportedly represented a massive money laundering operation that financed political and other operations around the world. Banks and companies with Clearstream accounts included the Bank of Credit and Commerce International (BCCI), Bank Menatep of jailed Russian oligarch Mikhail Khodorkovsky, Banco Ambrosiano (also known as the Vatican Bank), Bahrain International Bank (with reported links to Osama Bin Laden), and The Carlyle Group.

�Sarkozy was interior and, for a short time, finance minister in the Union pour un Mouvement Populaire (UMP) government in which De Villepin served as foreign minister and prime minister.

�Sarkozy�s camp denounced the Clearstream list as a forgery and, as President, Sarkozy has put de Villepin under a criminal investigation. However, WMR has learned from sources close to France�s General Directorate for External Security (DGSE) that Sarkozy�s removal of Pierre Brochand, a Jacques Chirac appointee, as the head of DGSE in October will soon have unpleasant consequences for the mercurial Sarkozy.

�DGSE classified documents could soon appear that will re-ignite the Clearstream affair and prove that Sarkozy�s political career was financed by foreign funds. The revelations will reportedly exonerate de Villepin and Chirac, who have been charged by pro-Sarkozy elements in France of a criminal conspiracy to defame Sarkozy.

�Sarkozy and his neocon allies were able to kill the story of Clearstream by lawsuits against journalists and criminal charges against French officials who were aware of the details of the case. An Excel spreadsheet of Clearstream accounts was removed from several web sites under threat of legal action. WMR obtained a copy of the 2002 spreadsheet.

�The release of classified information on Clearstream may have repercussions far beyond France and shed light on an international quadrillion dollar scheme involving Israeli-connected gangsters to line the pockets of billionaires, launder cash, defraud banks, and loot national treasuries.�

The neocons and their allies in the corporate media have labeled the Clearstream documents as forgeries. However, neocons, who favor using forgeries to push their own agenda, are also apt to label as �forgeries� any document that threatens their continued grip on power. Because of what Clearstream represents, Sarkozy has also sought to abolish the posts of independent investigative judges in France so they are not prompted to dig further into the world�s shadow economy.

The term quadrillion in relation to worldwide derivatives was also cited in Len Bracken�s guest editorial in WMR on October 9, 2009: �The worldwide notional value of outstanding derivatives is now estimated to be $1.405 quadrillion, up 22 percent from the 2008 level. DK Matai of the Asymmetric Threats Contingency Alliance notes that a conservative 10 percent default or decline could result in $100 trillion of payouts. Financial institutions, nation states, even blocs such as the European Union will be unable to fund these obligations, often owed to speculators by bankers that grossly mispriced risk . . . The Soviet Union, by the most reliable accounts, imploded in large part because of its Afghan war. While the United States and its allies now have their crippling campaign in that unforgiving country, the weakest links to the empire controlled by Wall Street and The Square Mile are formed by a quadrillion dollars in derivatives and a hundred trillion dollars of securitized debt.�

If de Villepin succeeds against the hordes of financial marauders in France as a modern-day Charles Martel and begins to unravel the global financial shysters and fraudsters who have, like locusts and rats, decimated the economies of Iceland, Ireland, Greece, Spain, Portugal, and, soon, possibly bring the United States and France to economic collapse, it may be an issue of being too little and too late.

One Federal Reserve employee recently posed the question, �What comes after a quadrillion?� The answer to that question is �quintillion.� That is one-thousand quadrillion dollars. And with those kinds of numbers at stake, it is understandable why the world�s bankers choose to meet in secret conclaves in Davos, Australia, and Nunavut in the Canadian Arctic.

Previously published in the Wayne Madsen Report.

Copyright � 2010

Wayne Madsen is a Washington, DC-based investigative journalist and nationally-distributed columnist. He is the editor and publisher of the Wayne Madsen Report (subscription required).

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