August 22, 2011
By Matthew Raphael Johnson, Ph.D.
The Privatization of Political Protest: Western Banks Against the New Islamic Banking Movement
While major media speak of the recent spate of riots throughout the Islamic world as “spontaneous,” the financing of these “opposition” movements by major banks over the last decade says otherwise. But why? The rise of Islamic banking as a challenge to the Rothschild empire serves as a clear financial reason why the present governments in the Islamic world must go.
The fall of the Soviet Union in the early 1990s saw a fairly new phenomenon: the rise of privately funded opposition groups around the world. The financiers of these groups are, speaking generally, the Western banking community, seeking “democratic freedoms.” Usually, the remainder of the agenda is vague. It began in Serbia in the early 1990s, and continues in the Middle East and North Africa in 2011. However, a new player has emerged in the Islamic world that has got Western banks squirming, and that is the independent Islamic finance movement.
The groups involved in financing the opposition in Egypt and elsewhere include, most commonly, the George Soros’ Open Society Institute, the International Crisis Group (ICG) of the Rothschild family and their many offshoots. Major figures sitting on ICG’s board include George Soros, Zbigniew Brzezinski, former Senator George Mitchell, Morton Abramowitz, Gen. Wesley Clark and Samuel Berger. They have donated millions of dollars to liberal groups operating against governments in strategic areas. The agenda is identical in each case: liberal democracy, secularism, feminism, and private banking. The mobilization of urban youth has long been an important aspect of Soros/ICG operations from Belarus to Bahrain.
More recently, the riots in Tunisia, Libya, Bahrain and Egypt are the result of many years of mobilization and funding of leftist organizations in urban areas since the late 1990s. In Tunisia, for example, the ICG has helped create and finance such organizations as Radio Kalima, the Andalus Institute for Tolerance and the Al-Jahedh Forum for Free Thought. The agenda of these groups is identical to that of the ICG and the Soros empire. Since 2000, the total amount of money funneled to “opposition” groups has topped $10 million.
The creation of political opposition is only part of the story. These organizations, according to news sources such as the British Daily Telegraph and the Global Islamic Finance News, have been involved in training teachers, judges, police officers and bureaucrats in North Africa and elsewhere. The ICG and others are attempting to create a society that is no longer Islamic, no longer religions or traditional, but liberal, urban and open to foreign investment and banking. Given the interests of the players involved, the central concept is to ensure the presence of Rothschild banking in areas where it is being challenged both by the state and independent Islamic banking.
The European Union is in a slow state of decomposition. Riots from Greece to Iceland have shown the bankruptcy of major European banks. On the other hand, Islamic banking operates with a total deposit base of over $1.5 trillion. In 2010, the British Daily Telegraph reported that the Islamic finance movement was challenging London for financial dominance through their investments in Bahrain, Egypt and Tunisia, using Tunis specifically as its new base. Back in 2008, the Washington Post wrote, “As big Western financial institutions have teetered one after the other in the crisis of recent weeks, another financial sector is gaining new confidence: Islamic banking.” The thrust of the article is that Islamic banks are more stable than Western banks, partially because of the refusal to charge interest or take excessive risks. This Post article sent warning signs to London, and the ICG stepped up its financing efforts in Islamic states in response.
The Telegraph admitted that the new Islamic banks were doing some damage to London’s banking profits. At a time when the banking industry struggles with debt, a major challenger such as the Tunis movement could do some grave harm.
The Financial Times reported in 2011 that Islamic banks are in the process of taking over Pakistan’s financial sector and are slowly replacing the IMF as that country’s economic aid partner. This newspaper wrote, “In the past decade, Pakistan’s central bank has encouraged the growth of Islamic banks, as well as Islamic investment windows offered by conventional banks, in response to growing calls from Muslims seeking to deposit in and borrow from Islamic institutions.” Identical policies were in place in Cairo, Tunis and Manama, and was very bad news for the London financial community.
The removal of non-liberal states means the ability for Western banks to more easily penetrate places like Libya, that has a government controlled central bank. Strong states in this strategic part of the world make it far more difficult for Rothschild banks to control finance in these states, and as a result, the “opposition” is created as a financial investment.