Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 8033 expectancy to deal with the exploding retirement costs. After the election the state, local, and private pension funds and social security or all these things will need funding. Elites want the bal- anced budget amendment – they’re they’ve just stolen the $50 trillion that was necessary to keep retirement systems commitments. Farrell: Yes. Fitts: It’s been Puerto Rico or Detroit. It’s been the outliers who have blown up first, but now we’re moving in on the things that are consid- ered to be financially dependable. Farrell: Right. The other part of your hypothesis is that if you’re conservative, you don’t neces- sarily want a balanced budget amendment; you want to know where the money has gone. I would say we must punish the criminals – no more too big to fail, too big to jail. Criminals must go to prison, and we know the likely top criminal on the list. These people have to go to prison because we can’t have a functioning economy without rule of law. This truism means no more privileged class. You can’t run an economy that way, particularly a global one. This is the lesson that Mr. Global has yet to learn, and why elites are panicked. Fitts: The unipolar vision has failed. In the third quarter Brzezinski wrote an article declaring that fact, and how we had better get on with the multipolar world. I almost fell out of my chair, Joseph. Farrell: I did, too. This is a 180-degree reversal of what he’s been saying, and you notice that he said it without any apologies for having messed everything up in the first place. Another interesting detail is how Russians and the RT have denied a privileged class for big bankers; these bankers have to be prosecuted. In other words, Russia is on to the game. I think there is going to be some sort of interna- tional push to make bankers accountable. So look for the international court at The Hague and the like. The United States is not a party to that Hague treaty, but there will be some action from coun- tries like Venezuela that have been raped finan- cially. I think you’re going to see Brazil take part. The coup d’état against President Rousseff will lead to a whole new international action, but not necessarily effective, but you’re going to see these countries pointing out the flaws in the Western system. Fitts: There is an article this morning in the Wall Street Journal about the falling revenues of Goldman Sachs in Asia. I think that probably reflects, not just a global slowdown, but also a real pushback against the Americans in the mar- ketplace. It’s what one of the Republican candidates said early on in the debates, that our friends no longer respect us, and our enemies no longer fear us. I suspect that has contributed to falling revenues for Goldman. Farrell: Right. They just don’t want to do busi- ness with us anymore, and we can’t blame them. Fitts: I think this cut and run makes people look at the failure of the unipolar vision, the switch to the multipolar world, and they think, “I’m ner- vous about this so I’m going to cut and run.” One thing coming up at the beginning of Octo- ber is that the Yuan will enter the SDR system. Some of the fear porn folks are marketing this as the world’s next crisis, which is not the case. It is, however, clearly a signal of where we are going in the long run. Farrell: Right. I don’t think it’s a crisis. I think it’s going to inject an element of stability into the system. The source of the instability that we’ve been dealing with since the first Bush administra- tion is a group of people using wealth and power and influence within the central banks, the IMF, etc. I think the Chinese participation is going to inject balance back into the system, and it’s going to inject some stability. In China, it is not necessarily government debt but corporate debt that has ballooned and mush- “ I would say we must punish the criminals – no more too big to fail, too big to jail. Criminals must go to prison, and we know the likely top crimi- nal on the list. ”