At a 1968 meeting of the secretive globalist group known as the Bilderbergers, a U.S. official named George Ball spoke of creating a “world company.” Ball was U.S. Undersecretary of State for Economic Affairs and a managing director of banking giants Lehman Brothers and Kuhn Loeb. The “world company” was to be a new form of colonialism, in which global assets would be acquired by economic rather than military coercion. The “company” would extend across national boundaries, aggressively engaging in mergers and acquisitions until the assets of the world were subsumed under one privately-owned corporation, with nation-states subservient to a private international central banking system. This weekend, banking giant JP Morgan added to its share of the world company when it bought Bear Stearns at $2 per share, a 98% discount, aided by backup funding from the Federal Reserve. Who bore the loss? Teachers and other public employees. See —
Catherine Austin Fitts, “Morgan Bags the Bear” (March 16, 2008), www.solari.com/blog/
She writes:
Well, Eliot Spitzer’s resignation was just in time. Can you imagine what he would have said about this? As of December 31, 2007, the New York State Teacher’s Retirement System owned 493,007 shares of Bear Stearns stock at a cost basis of $24,736,363.42 or $50.1745 per share. The year end value was $43,507,867.75 or $88.25 per share. As of March 31 2007, the New York State and Local Retirement System owned 453,385 shares of Bear Stearns stock at a cost of $34,443,043 or $75.97 and a valuation at that date of $68,850,650 or $145.24 per share. JP Morgan has just announced that they are going to buy Bear Stearns at $2 per share. Bear Stearns stock closed at $30 per share on Friday and at $57 per share on Thursday. Which means JP Morgan is not paying a premium to market. Rather, they are paying a 93% discount to market. This means that the New York teachers and public employees invested $59 million in Bear Stearns and their investment is now worth $1.9MM, a loss of $57 million. If you look at their opportunity cost, the New York pension plans could have sold in June 2007 before reality hit mortgage market valuations at $151 per share. From that point of view, they have lost $149 per share, or $141 million.
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WEB OF DEBT BLOG 
This is but one of many groups who are about to discover that their ‘savings’ for their retirement are being decimated through the private cartel known as the Federal reserve. This is all very devastating of course–but at the same time, it could be the first shot in the birth of a new system–something Ellen’s Web of Debt shows is possible!
Just as our forefathers had to be pushed over the edge by the British Gov’ts enabling of the East India Tea company’s monopoly–forcing American merchants to buy only from them, this systematic effort by the Federal Reserve and private bankers–aided by the Bush gov’t to monopolize the money system and force all of us in debt-slavery could be the push that finally awakens the American public to a level of outrage and disgust that they’ll wake up–read Ellen’s book and discover–there is another choice!
I really don’t think anything will change. I’m almost done with Ellen’s book. I wish every American would read it however, after discussing these things with friends, coworkers, bloggers………we who believe what Ellen says…..are usually marginalized into conspiracy theorists, anti-Capitalists, and unAmerican. Look at the stock market today. One of the biggest banks in the world just basically went belly up and the market wasn’t even phased.