SLIDING INTO SERFDOM: Are We Out of Time? The Monetary Rape of Ecuador-The Globalist Plot for the Americas

In one of the most thoroughly documented and frightening investigative pieces ever in Brightlights. J. Ruth, an American living in Ecuador during the recent uprisings, documents their link to Globalist intervention. I have long considered the "Globalist Theory" to be another cockamamie, kook conspiracy theory.

However, recent events, many that are linked in this story, have begun to make the impossible, indeed plausible. Ruth's research and reporting tied with highly documented books such as It Came from Jekyll Island sends a cold chill down the spine of many journalists who are willing to look beyond the pale to a potentially terrifying future. A future now plausible with rapid developments in technology not even conceived of 40 years ago. Jeckyll Island; The Truth of the Federal Reserve and Income Tax

In part One of SLIDING INTO SERFDOM; Are We Out of Time? J. Ruth exposes the events leading up to the dollarization of the Ecuadorian currency. He documents the 4 steps taken by globalist bankers, the IMF, the U.S. Treasury Department, President William Jefferson Clinton, and their lackeys in the Ecuador government to force a country with great mineral wealth into default. The resulting chaos in the money system results in virtual economic slavery for the working people of the country, and leads to insurrection. In addition, Brightlights will be supplying pertinent links to other sources documenting other global organizations such as the IMF, the UN, and more whose end destination is global rule and loss of national sovereignty. - Editor

by J.A. Ruth

J.A. Ruth is an historian and marine archaeologist from Florida who has been working on marine archaeological projects in Ecuador since 1997 involving official sanction of the Ecuadorian Government . Most recently he has been in Ecuador since July 1999 and has been witness to many of the events he has written about and has close ties to persons in the current governing party. His work has been featured in many top journalistic outlets, including World Net Daily.

He may be reached at :

SLIDING INTO SERFDOM: ARE WE OUT OF TIME ? Globalist Plot exposed in Ecuador...Future Designs for North America Revealed


I would rather die than see my country live under the slavery of the international bankers. - Col. Guttierez



While most Americans are scratching their heads over the significance of recent events in faraway Ecuador , what has and is currently going on here has such frightening ramifications for the United states that every patriot should become aware of them . Although the details are still sketchy, enough facts have emerged about the deliberate staging of Ecuadorīs economic collapse, the resultant human misery and recent popular revolt it has generated , that it is now possible to piece together another chapter on the Globalist agenda to place all nations under an a one world government.


In this instance , the stated objectives of the Globalists are twofold . The first being the establishment of a single currency and economic union between North and South America by the year 2005, similar to the arrangement existing in the European Union. The second: The eventual merging of all the nations of both American continents under one governing unit to be carried out within another 20 years after the first objective is reached.

However , before I cut to my story line and and explain exactly how this process is to be accomplished , it is perhaps best to summarize for readers not familiar with the term "Globalist" just who qualifies as and what are the entities that constitute this Globalist threat currently planning the end of all nations.

Globalist Defined

In brief , a Globalist is anyone who believes that the edicts delivered by international organizations should take precedence over the priorities and decisions made at the national level by sovereign states. ( This also includes the belief that decisions made through democratic process and majority will should be invalidated if they go against the goals and ambitions of the Globalists ) Examples of Globalist institutions include, but are not limited to, The United Nations (UN), The World bank , The International Monetary Fund (IMF), The World Trade Organization (WTO), and The International Court in the Hague, Netherlands.

The individuals who manage these organizations and write their policies may also be considered Globalists, although not all Globalists work for those organizations. To further their goals on the various national levels, the modern political arms of the Globalists include much of the leadership of (even if the rank and file are not fully cognizant of where their leaders are taking them ) most of the worldīs Labour parties, Socialists, Social Democrats, and the preponderance of the leadership of the U.S. Party of Democrats.

Individuals who may be considered Globalists include liberal and leftwing political leaders or even so called "Rockefeller" type Republicans. Their ranks are also filled with Hollywood and media celebrities and film moguls and other private persons who use their public status, money, and media power to spread the themes and propaganda to further Globalist goals. In the United States names like Bill Clinton , Al Gore , Ted Turner , Al Neuharth , Michael Eisener , Michael Jackson, and Madona come to mind as individuals in the service of Globalism .

Examples of media organizations which serve Globalist goals include , but are not limited to : Segments of Hollywood (again), NBC, CNN and Gannett which owns USA Today . Globalists also recruit from all social backgrounds and come in every race and gender and the membership truly is global .

While they trace their origins to a curious alliance that developed between a group of International Merchant bankers operating out of Germany and New York with certain altruistic International Socialists during the early part of the 20th century, their membership has since become all inclusive. The following story is completely true and is part of an ongoing process which will culminate in the eventual dissolution of the United States. (That is, unless interdicted - ed)

ECUADOR - The Crucible of the Western Globalist Experiment

The latest facts surrounding the most recent Globalist stratagem began emerging several weeks ago following the arrest of the former head of Ecuadorīs Central Bank, Dr. Pablo Better-Grunbaum . The Central Bank is equivalent to the U.S Treasury. Grunbaum , more so than recently deposed President Jamil Muhuad, has been credited with formulating the disastrous policies which bankrupted this otherwise resource rich nation. Policies that rendered the national currency worthless, threw 25% of the work force out of work, pushed another 40% into underemployement, and reduced 80% of the population to beneath the national poverty level of $100.- yr . That from only 30% two years earlier.

Currently charged with criminal negligence in wrecking the economy and using insider information to speculate in Dollars, Grunbaum is facing a possibly fatal term in one of Ecuadorīs prisons . Sources close to the investigation state that Grunbaum has begun cooperating with an investigative commission of the High Court in Quito which was established after the January 21, popular revolt. (See Brightlights Report) This uprising resulted in the removal of Grunbaumīs boss, Ecuadorian President , Jamil Muhuad. The commission is probing the causes and culpability of what is now known to be a deliberately staged crisis of international origins .

IMF Orders Default on Ecuador Bonds

According to sources close the investigation , in furtherance of the Globalist objectives in November 1999, President Muhuad and Central Bank Chief Grunbaum received direct instructions to allow Ecuador to default on her international financial obligations , specifically the Brady Bonds. Those fatal instructions are said to have been delivered by New York based IMF official, Stanley Fischer and unnamed officials at the U.S Treasury Dept. Further, the instructions were given even though Ecuador was fully capable of making a timely payment. Even if Ecuador had not had the means to pay, however, the oil rich Andean-Amazon nation could have requested a reschedule of payments under more lenient terms as did Mexico in 1995 and Brazil in 1998. Both of those nations were allowed to restructure even larger debt packages to alleviate economic hardship.

In Ecuador's case, neither alternative to default was pursued nor even considered. The act of defaulting had the desired result of isolating Ecuador from all international money markets and shutting off all further credit, much the same way any individual who fails to pay on a credit card soon finds its use suspended and all new applications for credit elsewhere, blocked . The question in most minds at this point must be, "why do this? For what ultimate purpose? The answers are as frightening as sickening .

Planting the Seeds of Economic Disaster and Globalist Restructuring

During the twelve months prior to the November 1999 default, Muhuad and Grunbaum, both of whom are now known to have been under the direction of non-national interests , were as busy as a pair of viruses destroying their host country from the inside out. Their purpose was to structure the conditions of collapse and create a national emergency in order that they could feign their subsequent coming to the rescue of Ecuador with a "solution". A solution dictated to them months in advance by the IMF, designed to turn Ecuador into the first unit of integration of the new hemispheric empire under construction.

In reality, instead of saving their country, they were only implementing the directives of the Globalists whose designs they really served . The Sucre, the national currency , was printed and dumped into circulation by the metric ton to deliberately inflate its value. The action was designed to wipe out savings accounts and destroy Ecuadorīs rate of exchange against the U.S Dollar . The resultant inflation hit 60% a month while the prime lending rate, which was dictated by Grunbaumīs Central Bank, was raised to 160%. That act alone had the effect of destroying all commercial use of the national currency and sent droves of small firms spinning into bankruptcy. Unemployment soared to 25% within a few months as industry came to stop!

Conversely, any business wishing to finance in dollars could still do so but only at the usurious annualized rate of 18 to 20 %. This has had the desired affect of channeling all large business interests, oil, bananas, mineral extraction, sea food and importers of foreign goods to sole dependency upon dollar transactions for credit and survival. The result of this deliberate sabotage of the national currency was to send it spiraling from a long stable level of 5000 Sucres to the Dollar to 20,000 Sucres to the Dollar!

The Sucre has now been relegated to becoming the hollow instrument of wage slavery for the new masses of working poor who are still paid at their old rates of labour exchange in what is now useless paper. Meanwhile , the prices of everything, particularly imports, rose in cost to levels beyond a life time of savings for most, if worked for and paid for in Sucres. An Ecuadorian worker still fortunate enough to have a job now makes one dollar a day ...down from about five.

STEP ONE: Destroying the Old Economy and Replacing it with Feudalism

First the old basis for the national economy had to subverted . . . utterly destroyed. Next, a solution for salvation would have to be tendered to Ecuadorīs beaten desperate masses. However, even before that stage of the process was reached, one more Coup de Grace was needed to finish off the dying victim . The greatest act of treachery was yet to transpire . During the spring and summer of 1999, billions of Dollars representing the life's savings and pension funds of millions of people were quietly stolen and transferred out of the country through dummy loans to bogus corporations. These were set up by the directors of twelve of Ecuador's private banks.

All this illicit activity transpired under the the nose of Grunbaum, who did nothing to block such transfers. Despite warnings that normal banking procedures were being circumvented became obvious to even those outside the banking loop. By September the bottom finally fell out and 80% of the nationīs banks became insolvent, closing their doors , All of the bank presidents and other key inside officials who managed these institutions fled the country.

Ecuador has no system of deposit insurance, therefore, the looted billions are irretrievably lost to their true owners. Thousands of businesses and individuals have been ruined. The US Government, in turn, has done nothing to offer to help trace or retrieve the stolen funds, nor extradite those responsible , even though many of the former banking officials are believed to be in Miami along with the money. Ecuadorian newspapers have, in fact, recently run a spate of pictures taken of some of these "retired" bankers showing them now lounging poolside in South Forida .

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Policies that rendered the national currency worthless, threw 25% of the work force out of work, pushed another 40% into under-employment, and reduced 80% of the population to beneath the national poverty level of $100.- yr . That from only 30% two years earlier.






...the prime lending rate was increased to 160%




Photo Courtesy of El Telegraphico News, Guayaquil, Ecuador

The Sucre has now been relegated to becoming the hollow instrument of wage slavery for the new masses of working poor who are still paid at their old rates of labour exchange in what is now useless paper



80% of the nationīs banks became insolvent, closing their doors





Cities like Guayaquil . . . were placed under martial law. This is allowed by the constitution in Ecuador, as it also is in the United States under grave circumstances, although it has not been fully employed by any American President....yet.



STEP 2: Martial Law

By November , when the full impact of what had happened was finally setting in , the time had come for the next stage of the Globalist strategy . President Muhuad responded to the crisis and upsurge of violent, desperation driven crime by declaring a state of national emergency and assumed the power to rule by decree. Cities like Guayaquil , which experienced 200 murders in the course of robberies during November alone, were placed under martial law . This is allowed by the constitution in Ecuador, as it also is in the United States under grave circumstances, although it has not been fully employed by any American President....yet.

 Thereafter , Muhuad announced that he would rule under dictatorial decree in order to solve the crisis which he and Grunbaum, under the direction of outsiders , had themselves been responsible for creating in the first place.

It should perhaps be mentioned at this point that it is now known and widely reported in the Ecuadorian press that Muhuad had been in receipt of millions of dollars in payoffs for his treason , both before and after his election campaign. Much of this money has been traced to some of the same bankers now living in Miami while the rest derived from yet unnamed foreign sources .

Concurrently, the same investigative judicial committee in Quito that has charged Grunbaum with felonies, recently served Muhuad with interrogatories asking him to explain the sources of his campaign money, his instructions to default from the IMF and to account for other millions he received illegally from domestic and foreign sources. He has further been tendered questions concerning the yet unsolved murder by persons unknown of opposition (MPD) leader and Senate Deputy, Jaime Hurtado Gonzalez who was one of the first to raise the alarm about what was transpiring last year. Muhuad has thirty days to respond to the court or faces loosing his immunity to prosecution as former President. So far he has not cooperated.

STEP 3: Debauching the Currency & Runaway Inflation

  Back in early December while he was still President , Muhuad announced that he had come up with a solution to the nations' economic disaster and once again addressed the people, appearing on national TV like a concerned Bill Clinton ...Muhuad an old master of the double talk and sleaze , himself. First he related to Ecuador's economic problems as if they were some naturally occurring phenomenon , inexplicable and beyond the control of man ...sort of like El Nino! He then announced his plan to "Dollarize" the economy and replace Ecuadorīs now worthless currency with physical dollar bills!

How a bankrupt nation was to accomplish such a feat and place 2 billion dollars in small banknotes into circulation was not explained ...except that it would soon happen...just as mysteriously as the El Nino, presumably, perhaps within ninety days! Also , the new rate of value for these dollars would be at 25,000 of the old Sucres to 1 new Dollar and that rate would be fixed forever and thus inflation would become a thing of the past. Ecuadorians would then be on the road to riches with all this new dollar wealth , just like North America , and finally be able to accomplish real savings and an improvement in living standards.

Muhuad also offered an incentive if everyone cooperated . He promised that once Dollarization was accomplished that all of the stolen bank deposits would be replaced in dollars at the restitution rate of about 10 cents on the dollar lost . (Great incentive!) Finally , the old currency, the Sucre, would still be kept in use to make change for transactions of less than a dollar. Unfortunately , in the impoverished state of affairs for most Ecuadorans who make only one dollar a day , that would still be a wretched means of exchange for most .

What Muhuad failed to explicitly mention was that the people were essentially being asked to take a 500% pay cut while the price of everything would go up 300%. Photo courtesy of El Telegrapho Newspaper. Guayaquil, Ecuador

STEP 4: Moving Toward a Unified Currency in the Hemisphere

Official public reaction to the Muhuad announcement from the IMF and various US officials , (what little there was because the media downplayed it) , was rendered as feigned amazement. In fact a strong emphasis was placed on the official line that this was purely an Ecuadorian thing that the Ecuadorans wanted to try and that neither the United States Government nor the IMF was promoting this. Even Fed Chairman Alan Greenspan appeared at a press conference and pretended to be astounded that any nation would ever want to try this and re-emphasized that the United States was not encouraging it . That was a total lie and is typical of the customary practice by US officials and other agents of Globalism in the course of their covert operations, establishing a modicum of plausible deniability just in case things go wrong . (Argentina has also now announced its intent to go to Dollarization, and the Dallas Federal Reserve has held meetings with Brazil, Argentina, and Mexico to discuss the "benefits" of "Dollarization"-Ed; Details)

Sources close to the investigation in Ecuador have meanwhile confirmed that, indeed, Muhuad and Grunbaum took their directive to proceed with this phase of the plan, Dollarization, directly from officials at the IMF and the US Treasury Department. What is most worrisome, though, is that if true , it would indicate that an agency of the US government , The Treasury, has for the first time been put to use to serve the interests of internationalist objectives. Thus, no longer serving solely those of the American People.

Also , one should ask , since when has a bankrupted , third world nation ever unilaterally announced its plans to convert to a Dollar economy and then ordered the US Treasury to ship it 2 billion dollars in small denomination bank notes to jump-start the process ? That the American people are being asked to believe this at all, is outrageous! Such events could not and cannot happen without the full prior approval and compliance of the US Government and the IMF.


The plan appeared to be on track for implementation, (so far no big backlash or questions being raised Stateside) and on January 17, 2000 a US Air Force cargo plane landed and pulled up at the Military Air terminal wing of Guayaquil's Simon Bolivar International Airport. There the plane sat for several days under heavy guard, then left as mysteriously as it had appeared . The contents, the first consignment of millions of dollars in freshly printed US currency fresh from the US Treasury....mostly small denomination bills.

Since that time a second mystery plane has arrived at the Simon Bolivar International Airport , this second one even more shrouded in secrecy. This other plane, a 727 , was painted completely white and had no identification numbers nor letters designating its ownership nor national origin at all . It too arrived at the military terminal where it remained under heavy guard for a few days before leaving. Inside ... according to rumors flying about Guayaquil and whispers tricking down from reliable sources in officialdom, another billion dollars in cash! The all white jet without national markings...perhaps none being required by Globalist flights which are non national anyway?

Collapse of Health Care System

Making matters worse, the bankruptcy of the nationsī fragile public health system and disease eradication programs have sent the rates of malaria, dengue , hemorrhage fever soaring to levels never before seen ...20,000 cases in one month versus 12,000 cases during a normal year The elderly and children have been particularly hard hit while the majority of Ecuadorans now only able to eat one meal a day. The Globalist solution , in the minds of men Antonio Vargas , leader of Ecuadors' six million Indians (or indigenous people as they call themselves) only offered more of the same...forever ... and the popular sentiment reached a boil.

What were at first peaceful demonstrations protesting the horrible national conditions and the thefts and corruption of public officials , were met with tear gas while peaceful petitions to the government went ignored. A huge march on Quito was set for mid January by hundreds of thousands of citizen farmers and patriots to demand the halt to Dollarization.

    ("Dollarization" has still never been submitted to the people to decide in a democratic referendum. Instead it has only recently been submitted in the form of a Legislative Bill to Ecuador'sīChamber of Deputies for rubber stamping after the fact. The bill in question being authored by the IMF "Procounsel" in Ecuador , Stanly Franz.) 4/7/00 update

The Marchers were blocked on mountain passes so they could not reach the capital. Then, after two nights of exposure in the freezing cold, tens of thousands of would be demonstrators gave up and returned home. Muhuad then appeared on national TV and in a truly vulgar, Clintonesque act of doublespeak and impudence mocked the demonstrators, whose entry into the city he himself had ordered blocked. He mocked them saying that opposition to Dollarization did not exist because no one had shown up at the big demonstration called by Vargas!

Thursday, 4/6/2000 Part 2 of Sliding Into Serfdom from J. Ruth

Part 2

the people were essentially being asked to take a 500% pay cut while the price of everything would go up 300%.






The U.S. Treasury Dept. has, for the first time, been put to use to serve the interests of internationalist objectives. Thus, no longer serving solely those of the American People.


 In Part 2 of SLIDING INTO SERFDOM, J. Ruth further exposes Bill Clinton's Involvement in the suppression of the popular anti-dollarization coup. He talks of the storming of the Capitol Buildings in Quito. He reveals the move to "dollarize" all the America's to bring the hemisphere under one curency. The move by globalist interests to deprive private citizens of firearm ownership. Why men like Antonio Vargas are so feared by globalists. Finally, he reveals his vision of what is in store for the culture of the U.S. as the Western Hemisphere falls further under Globalist domination.