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$BILLIONS went offshore via Enron without a paper trail

Enron Corporation has been, and still should be, an entity closely IDENTIFIED with the Bush family and the Carlyle Group. It has long been way beyond a few million dollars in campaign contributions.
Limited partnership schemes took $BILLIONS off-shore without a paper trail.

Recent article (30.Apr.2004 11:27) titled "The President's Enron Connection" emphasizes the successful Enron infiltration and pay-off of the Clinton administration in the late 1990's. Enron contributions to the Clinton administration and campaigns have always been dwarfed by the contributions to the Republicans and, in particular, in Texas and to the Bush family. When George W. Bush ran for governor and even in the beginning of his campaign for the Republican nomination for president, he was flown wherever he wanted to go in what were essentially Bush family jets -- with "Enron" painted on the sides. While it is true that Ken Lay bought access to the Clinton White House, that was at least reported. We now have an administration that will not even ackowledge who met with Vice President Cheney to iron out the energy policy that has resulted in a privatization attack on the BPA, doubling of your home energy bills and $2/gallon (and rising) price at the pump.

Before the bubble burst -- that is, back in the late 90's when Enron still could be touted as a big success story for ordinary investors -- Enron invariably was identified in the Wall Street Journal as a Bush family connected entity. This was done to promote both Enron in the financial world and the Bush brothers in the political realm. Since about January, 2000, as the scandalous fraud that eventually bankrupted Enron became known, the Wall Street Journal has never identified Enron with the Bush family. (Damage control.)

I have had some difficulty, even here at PIMC, explaining the reality that the Bush family is obscenely more wealthy than John Kerry's wife and/or than the Kennedy family. Really rich people officially have no money at all, on the books. When Nelson Rockefeller was interviewed by the U.S. Senate, for his appointment to Vice President, he stated that he had no assets whatsoever -- other than his art collection. At the same time, he told the Senate committee that he would, if appointed Vice President, have no need of a salary or even of the protection of the Secret Service. That would all be taken care of by a mysterious (but well-established and powerful) organization known as "Rockefeller Security." Some say that the Queen of England is privately wealthy, but no one really knows. Do you ever see the King of the Kingdom (Saudi Arabia) listed with Bill Gates as one of the world's richest men? The point is that, if you are really rich and you want to stay that way, you find ways to take your assets off-shore where they will never be subject to taxation and where no one will ever be able to find out anything about, or garnishee or place liens on anything that you actually own --- because, on paper, you don't "own" anything.

The super-rich are really gangsters. It's about power. They don't "have" money exactly, because they are the people who create money with a single key-stroke of a centrally located computer keyboard. That's the game. Of course, along with the super-rich who have had it made for generations, there are also some families who are on the way to becoming part of that elite class. Such families, or individuals, are generally already very rich from inheritance or (rarely, as with Bill Gates) from successful sharp business dealings -- but they are still small fry on a global scale until they successfully make a transition into the world of the super-rich. That's what the career of George Herbert Walker Bush has been all about. Using family inheritance and connections, leveraged by insider information and (carefully disguised) power within the secret government, George I successfully (even brilliantly) took that step from merely a nationally prominent political/financial family into the world of global "royalty" --- above and beyond anything like mere national law and untouchable by any downturn of any national or transnational economy.

Enron was a beautiful opportunity for insiders because of the "limited partnership" agreements. These legal instruments allowed Enron to "invest" with a "partner" in anything at all, generally in energy futures contracts, which provided that, as an Enron accountant once explained, "heads Ken Lay wins: tails Enron loses." No one has ever been able to trace the flow of $Billions beyond Ken Lay and a few other members of the Enron Board of Directors. The money went offshore to a multitude of "limited partnerships" chartered in places like the Cayman Islands, and from there the assets went to other peculiar financial instruments and entities protected by banking secrecy law until, today, the paper trail will never be found.

Californians know that they were robbed of $Billions in the phony energy crisis -- but they don't grasp where the money went. They maybe think it went to Texas, or to a few Enron insiders who are now being prosecuted. Turns out, however, that the only assets that can be located are a couple of mansions in Houston. Of course, Ken Lay himself hasn't been even indicted. He knows too much. Besides, at least one of the insiders has committed "suicide" -- so nobody is going to talk, and, if they did talk, nobody in the legal system or the Department of Justice or in the mainstream media is going to listen. You know how it is: "shit happens." Everybody knows that. So the $Billions are gone, but you won't find them in Texas. They went offshore and, to a large extent, have been invested in China.

The tip of the iceberg of Bush-connected wealth is seen in the Carlyle Group, connected both with the Bush family and the Bin Laden family. Nobody knows what the assets of the Carlyle Group are, although it has been reported that those assets include major casinos -- it isn't subject to disclosure laws such as apply to ordinary corporations that are registered on stock exchanges. It's a kind of conglomeration of limited partnership agreements. When they meet, you can picture a meeting of the "dons" with discussions of profit-centers or "territories" (such as Iraq) and maybe some little bit of nasty "business" as when an underboss (such as "Sadam") had to be dealt with.

Nobody knows how rich the Bush family is, but it's a safe bet that they won't be satisfied until they surpass the Rocekfeller's.

PS: Please, Karl Rove's trollers and others, skip the stuff about that I am a "Democrat whore" --- this isn't an advertisement for Kerry, or for anyone else. And I don't waste energy getting mad at anyone or anything, including the Bush family. This is just an attempt to correct a blindspot that exists in the public's mind (including many otherwise aware individuals posting here at PIMC). I am summarizing facts that you will never read in the corporate media --- but that can be surmised if you have been reading many sources for a while, and if you can remember for more than a few days and are able to read between the lines.
Welcome to the new middle age 03.May.2004 15:11

tom

Undoubtedly all true-- but what to do about it?

European royalty spent several hundred years after the breakup of the Roman Empire establishing that overpowering wealth and power and central authority (see Barbara Tuchman-- A Distant Mirror) and for all practical purposes, they still have it. The Royal Families in almost all of Europe are alive and well-- and are just now sort of becoming visible again.

The Enlightenment and the US and French Revolutions were brief respites from suffocating feudalism, but it certainly looks like the revolutions have gone full circle and the same people old people are back up on top.

Welcome to the new middle age.