Black September

The spectacular collapse of Investment Banking on Wall Street last week poses some serious questions. If it takes hold, it may lead to drastic changes in the world: as important as the end of the Pax Britannica in AD 1947 or that of the Pax Romana in AD 410 or the defeat of the Byzantine Empire at the Battle of the Yarmuk.
The reasons for this sudden development deserve a separate and special treatment; but it is fair to say that the $3 Billion a week (or more) of expenditure in the Iraq war and prospects of a further increase that may be necessitated by troubles in the Caribbean, the Black Sea, the Arabian Sea etc. would have led to a substantial increase the borrowings of the US in the International Money Market led by (who else, ) China. The United States may be the only great Power in world history that financed its efforts to create a new world order, entirely on borrowed money - a brilliant strategy that escaped the genius of all in this business from Hitler and Mussolini of recent memory back to the Emperor Darius.
These worthies could have taken President Bush's correspondence course with extra material from the Palin-McCain campaign on the coming Hundred Years War. Alas ! it was not to be. The American People who have the money couldn't suffer the prospect of increased borrowings from America's enemies, though the 50% of Americans who are technically paupers ( those whose debts are greater than their assets,) were ready to enroll in the effort. The patriotism and self-sacrifice of this large group of blacks, hispanics and rural poor-whites is really touching. Our brave men and women in the armed forces would never have rebelled like the core Macedonian contingent in the armies of Alexander the Great when faced with a march into Further India.
No Sir! The problem for President Bush lies not with the soldiers and their commanders but with the reluctance of financiers on Wall Street and and theirrepresentatives in Washington: and we must add, the reluctance of the General Public to part with their money based we believe, on the poor opinion held by Our Lord and His disciples of the tax-gatherers of the Roman Empire: not to pay taxes defines American Patriotism, notwithstanding Sen. Biden's contrary strictures on the 20th of September. It is not surprising that our religiously inclined public who are otherwise supportive of the prospect of an armegeddon with Islamo-Fascism will not back the war effort with increased taxes. One would think they have become sudden converts to Pacifism. As William Seidman who presided over the liquidation of the Savings and Loan mess some years ago said: "Show me a Religious Conservative and I'll show you an Economic Conservative." In American Christianity the two are synonymous. Neither Savonarola nor St. Francis of Assisi could be elected dog-catcher in America: for though diametrically different in all other respects these two had a low opinion of accumulated wealth. No right-thinking American will indulge in a Bonfire of the Vanities in support of war even to save the Free World and Western Civilization: he'd rather borrow it from China.
But we digress. In the light of this failure of financial nerve, what can we expect of American resolve in solving the Palestinian problem, which as many believe, is the key to peace in the Middle East.
By 'peace' we mean ( naturally) the solution of the Palestinian problem according to dictates of both reason and religion, a happy and rare union of the two has been achieved only in America. Our goal should be total extirpation of this unnatural and immoral designation of a group of people who immigrated into the region in Ottoman times. As the late Golda Meier proved conclusively, even the name 'Palestine' is a fabrication of the Roman Imperialists as a means to despoil the original inhabitants whom they took away as slaves to Rome and thence to Europe. We must induce the existing rump of the Palestinians (peacefully if possible but forcibly if we must,) to vacate their agression and depart to the wilds of the hinterland beyond the Jordan. These are questions agitating the minds of the good people of Israel and the United States.
This is getting more difficult to do with the passage of time. September 11, 2001 galvanized and united America under the leadership of President Bush and Mayor Giuliani: September 17th 2008, termed 'Black Wednesday' by the Wall Street Journal of the 20th inst. sapped the resolve and divided us. Respected journals in Israel wonder every day whether the US will bomb Iran or permit Israel to do the honors herself. The assurance by Sen. McCain set to music ( " Bomb, bomb, bomb Iran") has failed to dispel this anxiety. His associate, the President in waiting, Mrs. Sarah Palin does not mention the issue except perhaps in church. She has been banned or dis-invited by a American-Jewish organization from addressing the crowd outside the UN building set to greet Pres. Ahmedinejad of Iran who is resolved to follow the lead of Haman a distant ancestor perhaps, whose rise and downfall are related in the Holy Word. In the Book of Esther, God destroyed not only the children of Haman but thousands upon thousands of Iranians even in provinces remote from the scene of action and otherwise innocent of the plot against the Queen. Unfortunately, the probability of a repetition of this painful lesson is receding by the day.
And then there are the clowns: the presidents of Venezuela, Argentina, Nicaragua, Bolivia and Ecuador in our own hemisphere, seem to have developed a rare courage based upon the perceived economic weakness of the United States, and the rising military strength of the Soviet Union. In countries further afield, in Pakistan, Malaysia, Indonesia, India and others too numerous to mention, the name and honor of the United States is subject to daily vilification, slander and calumny. The policy of China, at once our enemy and our principal creditor, is ambiguous in the extreme. By providing ready and unlimited credit to the US,and timely though modest assistance to our enemies such as North Korea, Iran, Sudan and other petty-dictators of Africa, China corrals the resources of this vast region blessed with an abundance of every element in the Periodic Table. Our pastors have long warned us of the gathering storm from the East, but again, the need to reduce taxes appears to be crimping our response. ( To be continued…)

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