
Lord James of Blackheath spoke during a meeting of the UK House of Lords on February 16 and produced evidence of $15 trillion in what he claims are fraudulent transactions from the Federal Reserve Bank of New York, to Hong Kong Shanghai Banking Corporation (HSBC), which then transferred the funds to the Bank of Scotland. The Bank of Scotland then allegedly distributed the money among 20 banks throughout Europe allowing them to engage in a high-profit scheme which accumulated trillions more dollars over the course of eight years; and all off the books. Blackheath states that Alan Greenspan was an eyewitness to the initial transfers, and that Timothy Geitner signed off on claims that that the funds were backed by 750,000 tons of gold, despite the fact that this is more than four times the estimated total of gold ever mined from the Earth (approximately 150,000 – 160,000 tons, according to the most liberal estimates). Lord James has a reputable history with regards to the investigation of money laundering by terrorist organizations, and is known for having exposed the Iraqi “supergun” program. He lists three possible scenarios as to how the events transpired:
Lord James of Blackheath: There are three possible conclusions which may come from it. First, there may have been a massive piece of money-laundering committed by a major Government who should know better. Effectively, it undermined the integrity of a British bank, the Royal Bank of Scotland, in doing so. The second possibility is that a major American department has an agency which has gone rogue on it because it has been wound up and has created a structure out of which it is seeking to get at least €50 billion as a pay-off. The third possibility is that this is an extraordinarily elaborate fraud, which has not been carried out, but which has been prepared to provide a threat to one Government or more if they do not make a pay-off. These three possibilities need an urgent review.
See Lord James’ full address to the House of Lords on February 16, 2012:
For the reader’s convenience, a full transcript (as published byHansard and linked above) is printed below:
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5.20 pm
Lord James of Blackheath: My Lords, I hope the minute that that has taken has not come off my time. I do not wish noble Lords to get too encouraged when I start with my conclusions but I will not sit down when I have made them. I will then give the evidence to support them and, I hope, present the reasons why I want support for an official inquiry into the mischief I shall unfold this afternoon. I have been engaged in pursuit of this issue for nearly two years and I am no further forward in getting to the truth.
There are three possible conclusions which may come from it. First, there may have been a massive piece of money-laundering committed by a major Government who should know better. Effectively, it undermined the integrity of a British bank, the Royal Bank of Scotland, in doing so. The second possibility is that a major American department has an agency which has gone rogue on it because it has been wound up and has created a structure out of which it is seeking to get at least €50 billion as a pay-off. The third possibility is that this is an extraordinarily elaborate fraud, which has not been carried out, but which has been prepared to provide a threat to one Government or more if they do not make a pay-off. These three possibilities need an urgent review.
In April and May 2009, the situation started with the alleged transfer of $5 trillion to HSBC in the United Kingdom. Seven days later, another $5 trillion came to HSBC and three weeks later another $5 trillion. A total of $15 trillion is alleged to have been passed into the hands of HSBC for onward transit to the Royal Bank of Scotland. We need to look to where this came from and the history of this money. I have been trying to sort out the sequence by which this money has been created and where it has come from for a long time.
It starts off apparently as the property of Yohannes Riyadi, who has some claims to be considered the richest man in the world. He would be if all the money that was owed to him was paid but I have seen some accounts of his showing that he owns $36 trillion in a bank. It is a ridiculous sum of money. However, $36 trillion would be consistent with the dynasty from which he comes and the fact that it had been effectively the emperors of Indo-China in times gone by. A lot of that money has been taken away from him, with his consent, by the American Treasury over the years for the specific purpose of helping to support the dollar.
Mr Riyadi has sent me a remarkable document dated February 2006 in which the American Government have called him to a meeting with the Federal Reserve Bank of New York, which is neither the Federal Reserve nor a bank. It is a bit like “Celebrity Big Brother”. It has three names to describe it and none of them is true. This astonishing document purports to have been a meeting, which was witnessed by Mr Alan Greenspan, who signed for the Federal Reserve Bank of New York of which he was chairman, as well as chairman of the real Federal Reserve in Washington. It is signed by Mr Timothy Geithner as a witness on behalf of the International Monetary Fund. The IMF sent two witnesses, the other being Mr Yusuke Horiguchi. These gentlemen have signed as witnesses to the effect
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that this deal is a proper deal. There are a lot of other signatures on the document. I do not have a photocopy; I have an original version of the contract.
Under the contract, the American Treasury has apparently got the Federal Reserve Bank of New York to offer to buy out the bonds issued to Mr Riyadi to replace the cash which has been taken from him over the previous 10 years. It is giving him $500 million as a cash payment to buy out worthless bonds. That is all in the agreement and it is very remarkable. Establishing whether I have a correct piece of paper is just two phone calls away-one to Mr Geithner and one to Mr Greenspan, both of whom still prosper and live. They could easily confirm whether they signed it. Mr Riyadi, by passing these bonds over, has also put at the disposal of the US Treasury the entire asset backing which he was alleged to have for the $15 trillion. I have a letter from the Bank of Indonesia which says that the whole thing was a pack of lies. He did not have the 750,000 tonnes of gold which was supposed to be backing it; he had only 700 tonnes. This is a piece of complete fabrication.
Finally, I have a letter from Mr Riyadi himself, who tells me that he was put up to do this, that none of it is true, and that he has been robbed of all his money. I am quite prepared to recognise that one of the possibilities is that Mr Riyadi is himself putting this together as a forgery in order to try to win some recovery. But it gets more complicated than that because each of the $5 trillion payments that came in has been acknowledged and receipted by senior executives at HSBC and again receipted by senior executives at the Royal Bank of Scotland. I have a set of receipts for all of this money. Why would any bank want to file $5 trillion-worth-$15 trillion in total-of receipts if the money did not exist? The money was first said to have come from the Riyadi account to the Federal Reserve Bank of New York and from there it was passed to JP MorganChase in New York for onward transit to London. The means of sending it was a SWIFT note which, if it was genuine, ought to have been registered with the Bank of England.
When this came about, I took it to my noble friend Lord Strathclyde and asked what we should do with it. He said, “Give it to Lord Sassoon. He is the Treasury”. So I did, and my noble friend Lord Sassoon looked at it and said immediately, “This is rubbish. It is far too much money. It would stick out like a sore thumb and you cannot see it in the Royal Bank of Scotland accounts”. He went on to say, “The gold backing it is ridiculous. Only 1,507 tonnes of gold has been mined in the history of the world, so you cannot have 750,000 tonnes”. That is true. The third thing he said was, “It is a scam”, and I agree with him. The problem is that at that point we stopped looking, but we should have asked what the scam was instead of just nodding it off.
We have never resolved it. Today, I have this quite frightening piece of paper, which is my justification for bringing it into this meeting. It is available on the internet and I am astonished that it has not already been unearthed by the Treasury because every alarm bell in the land should be ringing if it has. It is from the general audit office of the Federal Reserve in Washington-the real Federal Reserve-and its audit
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review to the end of July 2010 on the Federal Reserve Bank of New York. It has on it some 20 banks listed to which $16.115 trillion is outstanding in loans. That is the sore thumb that was being looked for by my noble friend Lord Sassoon. But more particularly there are two other interesting things. The first is that Barclays Bank has $868 billion of loan, and the Royal Bank of Scotland has $541 billion, in which case one has to ask a question, because they could have earned back in three weeks their entire indebtedness and could pay off the taxpayers of Britain. Why have they not done so and could we please ask them to put a cheque in the post tonight for the whole $46 billion?
The next thing that is wrong with it is that every bank on this list, without exception, is an MTN-registered bank, which means that they are registered to use medium-term notes to move funds between themselves with an agreed profit-share formula, in which case these banks are investing this money and, most extraordinarily, not a penny of interest does the Federal Bank of New York want paid on that vast amount, $16 trillion. Anyone who knows what the IMF rules are will immediately smell a rat. The IMF has very strict rules for validating dodgy money. There are two ways of doing it. You either pass it through a major central bank like the Bank of England, which apparently refused to touch this, or you put it through an MTN-trading bank, which is then able to use the funds on the overnight European MTN trading market where they can earn between 1 per cent and 2.5 per cent profit per night. The compound interest on that sum is huge. If it is genuine, a vast profit is being made on this money somewhere.
I believe that this is now such an important issue that I have put everything that I have got on the subject on to a 104-megabyte memory thumb. I want the Government to take it all, put it to some suitable investigative bureau and find out the truth of what is going on here, because something is very seriously wrong. Either we have a huge amount of tax uncollected on profits made or we have a vast amount of money festering away in the European banking system which is not real money, in which case we need to take it back. I ask for an investigation and for noble Lords to support my plea.
5.30 pm
Lord Lea of Crondall: My Lords, I am quite happy to believe everything that the noble Lord, Lord James of Blackheath, has said. I will be very disappointed if the noble Lord, Lord Pearson of Rannoch, is unable to explain how this is all a conspiracy by Brussels. Will the Minister confirm that if you want to buy up the whole world you need a quadrillion? That is the latest figure.
This debate began with a presumption that what happened on 9 December was something of a mystery. It remains a mystery. In answer to the question posed by the noble Lord, Lord Kerr, as to why we walked away on that fateful night, I can only assume, because no other explanation has been offered, that in the middle of the night David Cameron’s phone was being hacked into by Rupert Murdoch. The events of that night provided quite useful bulldog headlines for the
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following day’s newspapers, including the Daily Telegraph and the Daily Mail. The bulldog in question, cited by the chairman of the 1922 Committee, was, of course, Winston Churchill. It is worth quoting against that background of bulldogs from volume 3 of Churchill’s A History of the English-Speaking Peoples, which he wrote in the late 1930s although it was published only in 1956. He said:
“But the Tories were now in one of their moods of violent reaction from continental intervention”.
That is where we are at the moment.
What will come of any investigation, if one is performed, remains to be seen.
Here’s the original link.


A Berkeley, il 9 febbraio Nicholas Purcell, autore con Peregrine Horden del celeberrimo The Corrupting Sea, tiene la prima delle sue sei Sather Classical Lectures. Siamo nella Wheeler Hall, famosa anche perché vi teneva i suoi corsi Michel Foucault. Il titolo è intrigante, in un modo poco immediatamente spiegabile: “On the Strangeness of Buying and Selling.” La stranezza del titolo viene affrontata solo alla fine della sua conferenza dallo storico di Oxford in visita nella Bay Area per questo semestre: compratori e venditori sono diversi tra loro, e questa differenza non viene mai meno, dice. Il mercato, e qua sta il fascino del suo argomento, è tutt’altro che retto da convinzioni e criteri egualitari, democraticheggianti: “Reciprocity is always mythical,” spiega, alla faccia di tutti i sostenitori dell’assioma dell’autoregolazione del mercato (fallacia mai abbastanza rigettata). Quello che il mercato produce, ciò su cui si fonda, e ciò che lo rende possibile, continua, non è affatto eguaglianza: questa, infatti, è essa stessa una “merce” venduta dagli ideologi di mestiere, cioè da coloro che sono pagati per convincere l’audience. Per rendere chiaro sin da subito cosa intende con la endiadi comprare e vendere, Purcell propone un esempio piuttosto inconsueto, e che certo i profeti di ogni mercato egualitario non accennano nemmeno per scherzo: la cessione di Gesù da parte di Giuda, per trenta denari. Comprare e vendere sono secondo Purcell attività sovraccariche di significati, e per noi che viviamo nei secoli del capitale non occorre aggiungere ulteriori dettagli. Ma fa una certa impressione sentire uno storico della cultura classica affermare cose del tipo: “Sale is about bringing about a new order, [...] and the potentially violent abrogation of an old order,” e poi finire, quasi foucauldianamente, dicendo che i mercati sono sempre connessi alle strutture di potere, sin dall’antichità. L’ossequioso silenzio della sala e l’applauso sostenuto e convinto al termine sono eloquenti, e forse alimentati anche dalla consapevolezza di essere nel pieno di una diseguale compravendita gestita da una cricca di soggetti tutt’altro che rassicuranti.
“Dobbiamo dire ai nostri giovani – dice il vice della Fornero – che se a 28 anni non sei ancora laureato sei uno sfigato, se decidi di fare un istituto tecnico professionale sei bravo. Essere secchione è bello, almeno hai fatto qualcosa”.
“Eppure, come detto, era stata la stessa Cancellieri a fare una mezza marcia indietro. “Ho usato una frase infelice che è suonata come una mancanza di rispetto – ha ammesso il ministro – Non era mia intenzione. Ma c’è una cultura che ha difficoltà ad allontanarsi da casa. Sì, ci sono ragazzi pronti ad andare ovunque. Ma altri restano fermi a modelli antichi che non esistono più”.





Deleuze), e operare affinché gli altri e le altre possano parlare di sé, onde evitare un “orientalismo della resistenza.” Bisogna riprendere la parola, e usare tutto il suo potere performativo: “prendere la parola […], forzare la rete dell’informazione istituzionale, nominare, dire chi ha fatto cosa, indicare il bersaglio, è un primo rovesciamento del potere […]. Se discorsi come quelli per esempio dei detenuti o dei medici di prigione sono lotte, è perché confiscano almeno per un istante il potere di parlare della prigione, oggi occupato dalla sola amministrazione e dai suoi compari riformatori.” (Microfisica del potere, 115). Parlare, fare nomi, aiutare a prendere la parola: altrimenti parleranno solo i cialtroni e gli oppressori, e la parte riservata a noialtri si chiamerà connivenza.