Eviscerating Yugoslavia: BNL, Yugo & Eagleburger

000016(Part one of a five-part series)

(Excerpted from Chapter 15: Yugoslavia Bad, Greater Albania Good: Big Oil & Their Bankers…)

It was no coincidence that Yugoslavia was Banca Nacionale de Lavoro’s (BNL) second largest customer after Iraq.

Both countries call their currency the dinar and both would, after rebuffing the global “privatization” crowd, see those currencies severely devalued.  Yugoslavia, like Iraq, has a long history of defying outside interference in its affairs.  Its economy, like Iraq’s, has tilted toward socialism ever since Marshall Tito routed the Nazi Utashe during WWII.

Moreover, Yugoslavia became a world leader in the Non-Aligned Movement (NAM), a large group of nations traditionally led by India who chose not to align themselves with either the US or the Soviets during the Cold War.  The international bankers despised NAM because its members tended to be left-of-center nationalists who guarded their resources from Big Oil and other multinationals.

NAM was a thorn in the side of the CFR/Bilderberger crowd who wished to portray all Third World revolutionary struggles against their financial hegemony as Soviet-backed Communist threats.  They could then play the “Red Menace” card to justify their bloody wars of depopulation.

Economic Warfare 101

Yugoslavia was the only East European nation which was never a member of the Warsaw Pact.  The country succeeded India as the Chair of NAM and became a respected leader of the G-77 group of developing nations, which tried to divert OPEC oil revenues away from international banks and into Third World development.

Yugoslavia was an important supplier of inexpensive machinery to Third World factories and peasant-owned farms.  Where once these countries were forced to buy expensive equipment from the West, using up valued hard currency and sinking further into debt, they now turned to newly industrialized Yugoslavia, which was often willing to trade machinery for commodities.

The Western multinationals were fuming.  What really galled them was that, like Iraq, Yugoslavia had created a highly successful socialist economy no longer dependent on the unjust international financial system.  Other Third World countries took note of the Yugoslav example, despite Illuminati propaganda that “socialism was dead”.

As Yugoslav President Slobodan Milosevic, who was served up as demon by the globalization crowd, pointed out, “…the remaining socialist government threatening capitalist control of Europe”…, …provided “living proof that history has not ended, that more than one economic system was possible.”

Yugoslavia’s natural resources are vast.  The Four Horsemen discovered significant deposits of oil off the coast beneath the Adriatic Sea.  Some oil industry insiders believe the fields could equal those lying beneath the sand dunes of Saudi Arabia.  Yugoslavia contains seventeen billion tons of coal and vast mineral wealth, including the huge Stari Trg mining complex, the first facility Hitler’s Nazi Reichstag seized when they invaded Yugoslavia in 1941.

Hitler mined lead at Stari Trg to supply batteries for his U-Boats.  But Stari Trg also contains gold, silver, cadmium, zinc and platinum worth at least $5 billion.  The Yugoslav land mass figures into any overland pipeline route connecting Four Horsemen Caspian Sea oilfields to mainland Europe.  It also sits astride a major highway that connects Europe to Central Asia, while the strategic Danube River flows through the center of the nation.  In the eyes of the international oligarchy, ripe Yugoslavia now demanded harvest.  Enter BNL and Kissinger Associates.

Lawrence Eagleburger was US Ambassador to Yugoslavia from 1977-1981 and was later president of Kissinger Associates.  During this latter stint he was director at LBS Bank, a subsidiary of Ljubljanska Banka, Yugoslavia’s second largest bank.  While at LBS Eagleburger was also in charge of the BNL client relationship with Kissinger Associates.

A 1989 Federal Reserve examination found that 20-25% of LBS Bank’s business came from BNL, including millions in BNL loans to Iraq; loans which LBS conveniently repurchased just before Saddam defaulted on them.  LBS repurchased rotten BNL loans from grain giant Cargill and financed a Yugoslav shipyard which built oil tankers for Mobil.  Eagleburger provided buffet-style corporate welfare for his pals, while LBS ate a steady diet of bad loans.

Eagleburger also served on the board of Global Motors, which manufactured the Yugo automobile. The Yugo was a symbol of national pride in Yugoslavia, representing a giant step forward for the country, which saw itself joining the ranks of industrialized nations.  Global is a subsidiary of Zavodi Crevna Zastava, the backbone of the Yugoslav arms industry.

In 1988 after Eagleburger had conveniently moved on, LBS was charged with money laundering.  Yugoslav authorities found that Eagleburger had fudged the books at LBS, whose parent Ljublijanska Banka then became embroiled in a scandal involving fake promissory notes.  The scandal shook the Yugoslav banking system.  Global Motors went bankrupt in 1989.

The dinar took a serious tumble, leading to more bankruptcies and widespread financial panic.  In 2000 Yugoslav intelligence officials stated that they had evidence that CIA had air dropped counterfeit dinars as part of their plan to destabilize the nation’s economy. The sabotaged Yugoslav ship was sinking and its Bilderberger saboteurs were grabbing the last life boats.

The West was quick to blame Yugoslavia’s economic woes on the ills of socialism, while the CIA began to sew ethnic division in country.  The global powers wanted to smash socialist Yugoslavia into tiny fiefdoms modeled after their GCC puppet emirates.  The US organized the Balkan Stability Pact, which called for a regional free market while CIA-backed Croat and Muslim separatists called for armed revolt. [619]

For forty-five years the US had played the ethnicity card in the Balkans, a region traditionally colonized by Western powers.  During WWII 20 million people died in the Balkans, most at the hands of Nazi-armed right-wing paramilitaries like the Croat Utashe.  Their victims were largely Serbian, Jewish and communist.

Now the US was, for propaganda purposes, dumbing their resource grab down to an ethnic skirmish.  The US media picked the winners, siding with the wealthier Croats and Muslims, while demonizing the generally working-class socialist Serbs.  The US justified its support for Muslim and Croat separatists by accusing the Yugoslav Army of ethnic cleansing.  Though there were plenty of Muslims and Croats in that Yugoslav Army, the US spin machine collectively bludgeoned the Serbian people.

An August 17, 1992 Newsweek article finally admitted that, “Most of the horror stories (attributed to Serbs) are impossible to confirm.”  Even the US puppet International War Crimes Tribunal in the Hague charged Croat and Muslim leaders with genocide as often as it did Serbs.  The US anti-war movement, which had already fallen asleep at the wheel during the Somalia fiasco, parroted State Department propaganda.  No war in history has been so driven by a frothy, emotive and completely unquestioning corporate media than was the war about to be waged against the people of Yugoslavia.

John Swainton, Chief of Staff of the New York Times from 1860-1870, explained as well as anyone why when he stated upon his retirement, “There is no such thing as a free press. You know it and I know it.  There’s not one of you who would dare to write his honest opinions.  The role of journalism is to destroy truth, to lie outright, to pervert, to fawn at the feet of Mammon…We are tools and vassals of the men behind the scenes.  We are jumping jacks: they pull the strings, we dance; our talents, our possibilities and our lives are the property of these men.  We are intellectual prostitutes”.

Dean Henderson is the author of five books: Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network, The Grateful Unrich: Revolution in 50 Countries,Das Kartell der Federal Reserve, Stickin’ it to the Matrix & The Federal Reserve Cartel.  You can subscribe free to his weekly Left Hook column @www.hendersonlefthook.wordpress.com


3 responses to “Eviscerating Yugoslavia: BNL, Yugo & Eagleburger

  1. Eric Dandridge

    Well said my friend… succinct and honest.
    Serbia was and IS surrounded by garbage…

  2. Good article!! Reminds me of when our family friend Michael New was serving in Macedonia and REFUSED TO WEAR THE UN BERET AND INSIGNIA instead of US insignia — and was court-martialed by the US military. I knew than that this was all part of a plan, but did NOT know about what Michel Chossudovsky described as Reagan’s
    “National Security Decision Directive (NSDD 133) entitled “US Policy towards Yugoslavia.” A censored version, declassified in 1990, elaborated on NSDD 64 on Eastern Europe issued in 1982. The latter advocated “expanded efforts to promote a ‘quiet revolution’ to overthrow Communist governments and parties,” while reintegrating the countries of Eastern Europe into a market oriented economy.”
    So much for free-market capitalist Reagan and his bluster—— he could not stand to see a Socialist country actually doing fairly well, so he (or maybe I should say George HW Bush, who was really running that administration) used the money and might of the US to covertly take down the Yugoslavian economy— and then the populace!!

  3. Eastern Europe was (and probably remains) the true HEART of europe. All the magic, mystery and history…one just needs to look at the architecture in any of the old towns of Yugoslavia, Hungary, Poland…..great/insightful post there Dean…

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