Specifically, in the case of Lou Dobbs, despite his outward manner, I see this man, not as an independent and objective commentator, but as a Talking Head for U.S. capitalists who happen to be protectionists.

Clearly, if politics and the U.S. government is the primary instrument of these U.S. capitalists, Big Media (CNN, CNBC) is a close second, and Lou Dobbs is a powerful player.

I am not concerned that U.S. media is structurally linked to certain elements of U.S. capitalism and aligned with a complex of agendas that serve to advance its dominance over global trade and commerce. People who can, do. And they take care of their own.

These things are facts of life.

What concerns me is the proliferation of hidden agendas in media. I don't remember it being like this, ever.

Take last evening's Lou Dobbs show as an example. Because most of the show was focused on the immigration mess (i.e., "broken borders" according to Dobbs), only five minutes was given to the issue of "port security" and a "no bid" contract given to Hutchison Port Holdings (HPH) for radioactive screening of inbound cargo.

The Dobbs guest was John Meredith, head of HPH who Lou introduced as "a person who is considered a leader in port security. Glad to have you as a guest."

Meredith was given "four minutes" to discuss this emotional and far-reaching issue, and almost as soon as this international expert (responsible for one-eighth of global seaport container traffic) began to speak, he was inexplicably cut off. Dobbs then directed the conversation in a direction far different than Homeland Security.

And as soon as Meredith began to explain the concept of transhipment he was pounced upon. Naturally he reacted.

Dobbs didn't care for the uppity response, so he talked over the remaining comments of his "guest", and chose to insult the man by closing the segment with the following slap in the face: "Sorry you chose to use your time in that way."

So, damned if you do; damned if you don't.

Why do experts in international trade and commerce choose to address the public via Big Media? Because they expect the decency of fairness and objectivity, not yellow journalism. That's why.

Clearly, in the 50 minutes leading up to this attack-dog interview with John Meredith, Lou Dobbs was upset at the demonstrations of hundreds of thousands of perhaps 20 million people he called "illegals". He was upset they included students who he says should have been in school. He was upset the protesters were waving flags of Mexico and countries other than America.

He was just upset.

He closed the show by telling us that 75-pct of the audience (recorded by his "poll") was "astounded that illegal immigrants would protest the protection of U.S. borders that they themselves crossed illegally in the first place."

Oh, if it were that simple.

As much as some people would like me to stay out of politics, one can no longer separate the issues of capital markets from economic, social and political systems. In my case, I put my agenda right up front: "capital markets and social equity".

But as for Lou Dobbs, it seems that his agenda for HPH's John Meredith was not about Homeland Security at all. It was centered in the assertively put question: "Why are these ships stopping in Bahamas? Why are they not going straight to the U.S.?"

Dobbs was lobbying for jobs for Americans... America first, above all else. Presumably he'd like Bahamas to be a fishing village, and its entire educated and skilled workforce to apply for U.S. work visas and "legal" jobs in America.

While some see Lou Dobbs as the modern day Uncle Sam, I see the man as the personification of the Death of the American Dream.

Of course I'd rather see a stronger America than a weaker one; who wouldn't? But I'm not a political player; I'm just a blog commentator. Lou Dobbs is a political player who is doing things his way to bring about a commercial result. So why does he call himself a journalist?

As you know, I have readers in about 100 countries, and recently I have a new interest in promoting The Bahamas as a type of United Nations center for global capital market trading. If, as it turns out, my intention to build a world class trading facility sixty miles from the U.S., in a zero-tax jurisdiction, happens to put me offside with U.S. Gnomes and their friends in the media, so be it. I'll just have to present a solid business case to the world, and hope they accept it.

Because that is a commercial interest, however, I do intend to split the website and blog into two parts.

Hopefully, my Bahamas initiative does not involve politics any more than if I decided to set it up in say Spain's Canary Islands. Having said that, I did take note of this Dobbs interview, and I had to give my head a shake. This protectionist stuff is scary.

As you know, I have, above all, an international markets perspective, and an interest in advancing international trade and commerce and capital markets for the owners of capital all over the world. I am, and I want to continue to be, apolitical.

As I say, I'm just a trader and a blogger -- not a politician, or a Gnome or employed by Big Media.

I wasn't going to write about this subject, but I received the following mail this morning, and it has been on my mind all day:

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"Hello Bill, This is my first time writing to you " thank you for blogging and your insight.

This news piece http://news.yahoo.com/s/nm/20060328/pl_nm/usa_immigration_dc made me wonder about what this would mean for wage inflation should the proposed immigration legislation passes. While 12 million illegal workers (on average, certainly working for less than minimum wage) being Pied Pipered by Bush out of the shadows to join the rest of the tax payers, would certainly increase their standards living and win more of the Latino vote (the rest of the Rep. party could care less, it seems), it would most certainly increase the cost of doing business and result in wage inflation for the likes of Wal-Mart, McD's, and many other businesses that rely on this shadow workforce.

Could this be another sign of US striving for inflation to destroy the value of their global debt? There are several other administration initiatives which could be labelled as "inflation stoking" (the War and the yuan float push come to mind), so it seems to me that there is a persistent desire for inflationary activities and policies within the US administration. Do you have any thoughts you could share on the subject?

Best regards, Max"

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It seems that, increasingly, international owners and traders of capital are questioning the motives of U.S. politicians, and of course the special interests they represent. This has been going on for years, but, I fear that the current protectionist sentiment that is building is not endearing America to its friends and neighbors, and it is playing into the hands of its enemies.

If America wants to close its borders, and become an island onto itself, we all know who is going to be hurt most.

Spending and reflating out of serious economic issues " and blaming others -- is also not going to help America.

I think the 9/11 tragedy and the post-Katrina debacle in New Orleans, which we all saw in real-time, opened the eyes of people around the world, including Americans, as to how America's most powerful people have hidden agendas, which they carefully manage through their links to the media and politicians.

To the extent these agendas are not put on the table up front and made to be transparent, I think there will be increasing social unrest, inside America and abroad.

That situation applies everywhere too, not just in the USA. Today, for example, there are labor law protests in France and a strike by some 1.4 million strong unionists in the U.K. People are becoming scared with these hidden agendas. Dialog is needed.

Regarding the issue facing America of "illegal immigrants" gaining legitimate rights to reside and work in America, I do see it as wage inflationary. I also see it stressing the social support system of the U.S. " healthcare, schools, social security " beyond the nation's (i.e., the taxpayers') ability to pay.

That will support higher gold and silver prices, and depress the $USD, making it harder for the Little People to get by.

So what I see happening in the future is the further evolving of an upper and a lower class. The middle class of America is simply dissolving.

That happened in the 1700's too, in Europe. It was called the French Revolution. And there was a message from it that should have been learned.

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p.s.: The U.S. Ambassador to The Bahamas John Rood has announced his continued support for the Freeport Bahamas role in pre-screening containers for possible nuclear or other illicit contents. He speaks with, let me say, quite a bit more knowledge and authority than a CNN Talking Head by the name of Lou Dobbs.

Here is a link to the confirming article in The Bahama Journal (March 29).