Record of Meetings held in the Palace of Westminster



The November 12th 2003 meeting
brought disturbing evidence of the immense complexity and complicity of the Monetocracy, and its mixture of legal and illegal aspects, that is threatening our human civilisation.

Loretta Napoleoni
fluently described the research embodied in Modern Jihad: Tracing the Dollars Behind the Terror Networks. She showed us an intricate system embracing bankers, traders, speculators, terror funding, narcotics running. She led us into the nether world of illegal organisations with deep tentacles reaching inextricably into the rampant global financial system. From the Contras to Al Qaeda, Loretta mapped out the arteries of an international economic system that feeds armed groups the world over with an endless supply of cash. Chasing terror money, she led from CIA headquarters to the smuggling routes of the Far East, from the back rooms of Wall Street to hawala exchanges in the Middle East - - including audio of radio interview in real format.

She described the terrorist phenomena as an international conspiracy of banks etc., not of religious fanaticism. While pretending to be set in a democracy, the western system is exploiting human society, by maintaining the hegemonic power of the US under both legal and illegal business control. The indifference to what is engulfing us is disturbing. We must acknowledge that we are trapped in a system where we are all dependent on the $ as the world's reserve currency. One participant described the indivisibility of the legal and the illegal money flows as a DANCE OF THE DEAD - TWO SCORPIONS LOCKED IN AN INSANE BATTLE

Sabine summed up by pressing that now is the time to protest that
Western Economics + Middle Eastern Oligarchies = Unrepayable Debts + International Terrorism. The impact of this intricate and cynical story is to press upon us the urgency of committing ourselves to action at our own starting point.

Loretta identified MODERN JIHAD as the basics of Economics of Terrorism - distinguishing it from the religious Jihads, the greater against the oppressor, and the lesser as a personal struggle to resist all temptations. Modern Jihad is a completely different phenomenon. Left and right merge in their conspiracy against the people around the world whenever they raise money. Loretta, therefore, writes exclusively as an economist looking at the economics.
Early research into the Red Brigade in Italy revealed how it was all about raising money - men proud of their ingenious ways earning as couriers in the financial system.

Terrorists she defined as people who decide to use violence to fight a political battle. No one wanted to discuss this until 9/11. No one else had researched the funding of hidden terrorism. We are still a long way from understanding and meeting the huge problem of funding.

Terrorismis found only after WW2, when three phases emerged..........

1. State sponsored - two super powers using the same method. US via CIA and Russia via PLA and Cuba - States often entered into business deals with illegal businesses/agencies, such as narcotics, until a perplexing mix of the legal and illegal evolved.
2. Privatisation of terrorism - late 1970s and early 1980s - same mix - PLO - IRA and ETA - created shell states - Jordon, Lebanon and then West Bank. Moved into highly unstable areas and destroyed traditional economy and then substituted war economy in which all became complicit.
3. Globalisation of terrorism - 1980s - with the advent of free trading and WTO and IMF activity - eg Al Qaeda - new economy of terror aligned with the international criminal network. The size of this financial flow of money laundering is calculated to be $1.5 trillion - and the IMF agree our figures.
Breakdown - a third of this sum is undetected capital flight. eg. 30% of Africa's wealth leaves Africa. Similarly, 60% leaves Russia. What is possibly even more disturbing are the growth rate and the legal cover-up of this criminal industry: one third is legal and two=thirds are illegal - from smuggling drugs etc.

The US economy needs this inflow of cash which must come from banks with the denomination in US$. Everybody wants and uses US$. Of the US money supply (M1) of $500billion, two thirds never comes back into the US but stays in illegal flows elsewhere. The US Treasury can borrow against the reserves that are NOT EVEN in the country. The legal and illegal systems are thus integrated with frightening indivisibility - eg the US economy would collapse without the income from illegal and criminal activities internationally. Loretta concluded by stating that the real centre of terrorist aims lay in the East. It will require government intervention; but that is too tough and the population will revolt because 20% of Saudi GDP goes to terrorism. The intricate interdependency of the whole system is a massive constraint on effective change. It is impossible to stop the flow and off shore banking is not even under pressure yet. The greatest difficulty is that we have to go back to some earlier principles when economic systems can only go forward. The target of Quaâranic revolt is the eastern powers, the religious in complicity with the bankers, traders and the peoples.

- $ stays up because constant demand for $s. Terror economy sustains the US $.
- Euro is not rising to counter - Saudi attempts to trade oil in Euros to deal with French and Russian companies are not working.
- In Albania terrorists moved in, then banks and then clerics to build mosques and educate in Muslim lore.
- DANGER TO OUR CIVILISATION In 1000AD Islam West only slaves and swords.
- We fight the struggle in a different way. Force will not work. A change in foreign policy is required. There must be an admission of profound economic error and a new start made.
- It is in the interests of US to sustain this complexity and indivisible mix of the legal and the illegal activity. It is supporting the hegemony of one world giant. This was stated in "New American Century - NEOCON" - It is a deliberate policy to undermine the UN and keep the US on top.
- Our difficulty is to set up a non-violent opposition. EDM 854 and its successors is our bid but it will elicit its response.
- In the US there is an awakening of opposition. Noone in seven weeks in the US attacked Loretta for her thesis. People count now - we don't want this.
- What is the mechanism for change? In the US Republican think tanks are much stronger than the Democratic.

Here in the UK :
1. Network for Peace and the Ministry for Peace: twin track approach via John McDonnell MP with his 10-Minute Rule Bill.
- "Terroristsaim to recreate the Caliphate in the Islamic lands. Huge insurgency funded most of the money. Clash of two economic systems west and insurgency . Must end colonial type of economic activity.
- Look at ourselves and responsibility. Loretta's case urges the argument for detailed probes on many fronts.
- Race needs to be brought in - Neo-imperialism alongside the Monetocracy - we need a new Neo-humanism to counter it. See Prout perhaps - the Progressive Utilisation Theory..
- Islam is not the problem. Muslims are. On a huge scale they are being complicit. Peace is impossible with the burden of debt escalating with interest. Kill your own and blame others. Enemy is in the City. Ministry of Peace ten minute rule bill or EDM or both. Education, education, education.

Forum for Stable Currencies
Organiser; Sabine McNeill
Minute Secretary; Peter Challen