As pressure is being put on the White House by foreign banks and heads of state to release the $4.5 trillion Wanta money, Michael C. Cottrell, the treasurer of the company formed to distribute the money for the benefit of the American people, remains "highly optimistic the trillions will soon be released.
"Yes, we are encouraged we will get the money released soon," said Cottrell in a Wednesday telephone conversation. "There is a lot of pressure from around the world being put on the White House. The heat is being turned up and I just found out the Chinese have taken $5 trillion of the $32 trillion they are owed from the U.S. government. They are backing Ambassador Wanta and pushing for the release of his money."
Cottrell added that one of his inside sources in Washington D.C. recently notified him that officials in the White House said the following in response to Cottrell and Ambassador Wanta's request for the money:
"We will do it when we are G** damn ready!"
Wanta and Cottrell, who together formed AmeriTrust Groupe, Inc. to oversee proper distribution of the massive amount of money, were hoping the money would be released by the end of the business day on Sept. 7, the same day the Chinese were also to be paid trillions by the U.S. government for prior investment gains.
However, the deadline passed without the Wanta $4.5 trillion being paid and still being illegally withheld in a Clearing House Interbank Payment System credit account (CHIPS), an account credited to Goldman Sachs and Co. at Citibank.
In what has become known in international financial circles as one of the most important and explosive stories in the history of modern banking, the Wanta settlement has been the subject of a Bush administration cover-up ever since Ambassador Wanta entered into an official written agreement in November 2005 to repatriate money for the betterment of the American economy.
Further, in May Wanta verbally agreed to the distribution of the $4.5 trillion with President Bush along with the assistance of one Foreign Intelligence Surveillance Court (FISA) court judge and two U.S. Supreme Court Justices.
The settlement, also negotiated with the help of two major U.S. law firms, represents only a portion of the $27.5 trillion offshore fund established at the end of the Cold War, which is now under the legal control of Ambassador Wanta, as duly appointed trustor, a position given to him by former President Ronald Reagan.
In other financial ramifications concerning the failure of U.S. authorities to release the Wanta money, Christopher Story, editor of the International Currency Review in London, recently reported:
"Chinese interests, acting independently of Ambassador Leo Wanta and his business colleague Michael C. Cottrell, M.S., have 'pulled' five or six 'CHIPS' already. The Chinese are using the British pound for oil payments purposes. The pound is therefore likely to appreciate over the weeks ahead.
"Can someone please explain to the Editor of International Currency Review why it is that, seven weeks after we first published this information (also published in the Arctic Beacon), which anyone could check for themselves, the U.S. Treasury implemented the fantastic carousel financing arrangements that were described in the Editor's Posting dated 2nd September 2006 [subsequently updated], which use the 'assets' of some GSEs as collateral? It is as though Mr. Paulson (Sec. of U.S. Treasury) went to the cupboard, opened it, found it not only to be bare, but without walls and a floor, slammed the cupboard shut, and then represented to the world that the cupboard is full of food so that we can all eat and be merry for years to come.
"Nor is the phrase 'scraping the bottom of the barrel' appropriate, since the barrel has no bottom to scrape. No wonder the Chinese are using the pound for oil payments."
Cottrell recently said in a recent Arctic Beacon article that in lieu of nonpayment, Ambassador Wanta "has already lowered the hammer," notifying the major banks in Europe, save Deutsche Bank, who have all agreed to put "stop orders" on any transactions with the U.S. government of $100 million or more.
"Most of the major banks in Europe other than Deutsche Bank have already agreed to the stop orders based on the failure to pay Ambassador Wanta," said Cottrell, including Credit Swiss and UBS. "We have asked the Chinese but I have not heard confirmation that they will go ahead and pull the $32 trillion owed in CHIPS. However, given that President Bush and Paulson cut a deal with Viet Nam and Taiwan whether the Chinese pull the CHIPS is irrelevant because they now have a cash flow through the system that allows them to stash more money away.
"What is most aggravating to me is that the President of the United States and the Secretary of the Treasury have made a deal with a communist country to circumvent an American company from paying taxes. That is what makes me angry because these guys go over and strike a deal to circumvent the American people. They essentially would rather cut a deal in Hanoi then allow us to pay the $1.6 trillion in taxes and use the rest of the money for the betterment of the American economy."
"Besides alerting European banks about nonpayment, Cottrell said he didn't want to "tip his hand" on future plans to secure release of the $4.5 trillion, saying he fears the U.S. government would use this information to circumvent their plans.
See also:
http://www.worldreports.org/news/24_chinese_using_pound_
http://www.worldreports.org/news/25_wanta_default_trigge
Greg Szymanski
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