Capitalism

Dear people, the truth is out; predatory capitalism is destroying our home, the Earth, our environment, our health and ALL hope of ANY natural future for our grandchildren, never mind the hope of a better future; unless we take action; 

Predatory capitalism has turned everything held sacred by all of our ancestors into “assets”, “commodities” and “resources”; and, is destroying our only home at an alarming rate; and, in total disregard for the sacredness of Creation and Life; we are now standing at…

 

Thirty Seconds to Midnight

by Regis Tremblay (full film)

https://youtu.be/Nd5hXwenwzc

 

CAPITALISM IS DESTROYING THE EARTH

February 10, 2016 “Information Clearing House” – “Forbes” – ‘Capitalism has generated massive wealth for some, but it’s devastated the planet and has failed to improve human well-being at scale.’

https://counterinformation.wordpress.com/2016/02/10/unless-it-changes-capitalism-will-starve-humanity-by-2050/

 

CAPITALISM DESTROYS

 

15,000 scientists deliver catastrophic “warning to humanity” over fate of our natural world

Andrew Griffen

 

A new, dire “warning to humanity” about the dangers to all of us has been written by 15,000 scientists from around the world.

The message updates an original warning sent from the Union of Concerned Scientists that was backed by 1,700 signatures 25 years ago. But the experts say the picture is far, far worse than it was in 1992, and that almost all of the problems identified then have simply been exacerbated.

Mankind is still facing the existential threat of runaway consumption of limited resources by a rapidly growing population, they warn. And “scientists, media influencers and lay citizens” aren’t doing enough to fight against it, according to the letter.

If the world doesn’t act soon, there be catastrophic biodiversity loss and untold amounts of human misery, they warn.

Only the hole in the ozone layer has improved since the first letter was written, and the letter urges humanity to use that as an example of what can happen when it acts decisively. But every single other threat has just got worse, they write, and there is not long left before those changes can never be reversed.

There are some causes for hope, the letter suggests. But humanity isn’t doing nearly enough to make the most of them and soon won’t be able to reverse its fate.

“Soon it will be too late to shift course away from our failing trajectory, and time is running out,” the letter warns. “We must recognize, in our day-to-day lives and in our governing institutions, that Earth with all its life is our only home.”

A host of environmental calamities are highlighted in the warning notice, including catastrophic climate change, deforestation, mass species extinction, ocean “dead zones”, and lack of access to fresh water.

Writing in the online international journal BioScience, the scientists led by top US ecologist Professor William Ripple, from Oregon State University, said: “Humanity is now being given a second notice … We are jeopardising our future by not reining in our intense but geographically and demographically uneven material consumption and by not perceiving continued rapid population growth as a primary driver behind many ecological and even societal threats.

“By failing to adequately limit population growth, reassess the role of an economy rooted in growth, reduce greenhouse gases, incentivise renewable energy, protect habitat, restore ecosystems, curb pollution, halt defaunation, and constrain invasive alien species, humanity is not taking the urgent steps needed to safeguard our imperilled biosphere.”

In their original warning, scientists including most of the world’s Nobel Laureates argued that human impacts on the natural world were likely to lead to “vast human misery”.

The new notice, written as an open-letter “viewpoint” article, won the support of 15,364 scientists from 184 countries who agreed to offer their names as signatories.

The authors drew on data from government agencies, non-profit organisations and individual researchers to set out their case that environmental impacts were likely to inflict “substantial and irreversible harm” to the Earth.

Prof Ripple said: “Those who signed this second warning aren’t just raising a false alarm. They are acknowledging the obvious signs that we are heading down an unsustainable path.

“We are hoping that our paper will ignite a widespread public debate about the global environment and climate.”

Progress had been made in some areas – such as cutting ozone-depleting chemicals, and increasing energy generated from renewable sources – but this was far outweighed by the damaging trends, said the scientists.

They pointed out that in the past 25 years:

  • The amount of fresh water available per head of population worldwide has reduced by 26%.
  • The number of ocean “dead zones” – places where little can live because of pollution and oxygen starvation – has increased by 75%.
  • Nearly 300 million acres of forest have been lost, mostly to make way for agricultural land.
  • Global carbon emissions and average temperatures have shown continued significant increases.
  • Human population has risen by 35%.
  • Collectively the number of mammals, reptiles, amphibians, birds and fish in the world has fallen by 29%.

Prof Ripple and his colleagues have formed a new independent organisation called the Alliance of World Scientists to voice concerns about environmental sustainability and the fate of humanity.

The Extinction Crisis

‘It’s frightening but true: Our planet is now in the midst of its sixth mass extinction of plants and animals — the sixth wave of extinctions in the past half-billion years. We’re currently experiencing the worst spate of species die-offs since the loss of the dinosaurs 65 million years ago. Although extinction is a natural phenomenon, it occurs at a natural “background” rate of about one to five species per year. Scientists estimate we’re now losing species at 1,000 to 10,000 times the background rate, with literally dozens going extinct every day. It could be a scary future indeed, with as many as 30 to 50 percent of all species possibly heading toward extinction by mid-century.’

Unlike past mass extinctions, caused by events like asteroid strikes, volcanic eruptions, and natural climate shifts, the current crisis is almost entirely caused by us — humans.

Read more at: http:///biologicaldiversity.org/programs/biodiversity/elements_of_biodiversity/extinction_crisis/

 

And, the right to a healthy environment is an unalienable right. Time for we, the people to stand up for our rights; it’s time for drastic action.

 

Industrial Activity Threatens Half of Natural World Heritage Sites, Says WWF

Some 114 of a total of 229 sites have oil, gas or mining concessions

Industrial activity threatens almost half of all natural World Heritage sites, according to a report released Wednesday from the conservation organization WWF.

Source: http://time.com/4283230/wwf-world-heritage-natural-threat-industry/

 

ENOUGH They Cried Out In Unison!

Its appears apparent that to many large Corporations, Companies, Banks, Government departments, Police and army units that in many cases within these self~serving organisations the common people are just viewed as trash, as some consumer statistic to pay energy bills, sell training shoes to and above all by the above organisations be neglected,oppressed, starved made to sleep rough and maltreated.

20 million starving to death: inside the worst famine since World War.

images (68).jpg

 

Read more at: https://blogfactory.co.uk/2017/11/14/enough-they-cried-out-in-unison/

 

Biologists say half of all species could be extinct by end of century

Scientists at Vatican conference are searching for a solution to the manmade ‘major extinction event.’

One in five species on Earth now faces extinction, and that will rise to 50% by the end of the century unless urgent action is taken. That is the stark view of the world’s leading biologists, ecologists and economists who will gather on Monday to determine the social and economic changes needed to save the planet’s biosphere.

“The living fabric of the world is slipping through our fingers without our showing much sign of caring,” say the organizers of the Biological Extinction conference held at the Vatican this week.

“Rich western countries are now siphoning up the planet’s resources and destroying its ecosystems at an unprecedented rate,” said biologist Paul R. Ehrlich, of Stanford University in California. “We want to build highways across the Serengeti to get more rare earth minerals for our cellphones. We grab all the fish from the sea, wreck the coral reefs and put carbon dioxide into the atmosphere. We have triggered a major extinction event. The question is: how do we stop it?”

Read more at: https://lisaleaks.com/2017/02/26/biologists-say-half-of-all-species-could-be-extinct-by-end-of-century/

 

The Looting Machine Called Capitalism

By Paul Craig Roberts

April 27, 2017 “Information Clearing House” –  I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have to pick up the tab produced by capitalist activity.

In the past when critics raised the question about external costs, that is, costs that are external to the company although produced by the company’s activities, economists answered that it was not really a problem, because those harmed by the activity could be compensated for the damages that they suffered. This statement was intended to reinforce the claim that capitalism served the general welfare. However, the extremely primitive nature of American property rights meant that rarely would those suffering harm be compensated. The apologists for capitalism saved the system in the abstract, but not in reality.

My recent article, “The Destruction of Inlet Beach,” made it clear to me that very little, if any, of the real estate development underway would be profitable if the external costs imposed on existing property holders had to be compensated.

 

Read more at: https://counterinformation.wordpress.com/2017/04/27/the-looting-machine-called-capitalism/

 

Megabanks

In October of 2011, New Scientist reported that a scientific study on the global financial system was undertaken by three complex systems theorists at the Swiss Federal Institute of Technology in Zurich, Switzerland. The conclusion of the study revealed what many theorists and observers have noted for years, decades, and indeed, even centuries: “An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.” As one of the researchers stated, “Reality is so complex, we must move away from dogma, whether it’s conspiracy theories or free-market… Our analysis is reality-based.” Using a database which listed 37 million companies and investors worldwide, the researchers studied all 43,060 trans-national corporations (TNCs), including the share ownerships linking them.

Download annexure: MEGABANKS

 

How 37 banks became 4 banks in 20 years

 

bank-chart

Source: Federal Reserve, GAO

 

Bullion Bulls Canada

Jeff Nielson is co-founder and managing partner of Bullion Bulls Canada; a website which provides precious metals commentary, economic analysis, and mining information to readers/investors. Jeff originally came to the precious metals sector as an investor around the middle of last decade, but soon decided this was where he wanted to make the focus of his career. His website is www.bullionbullscanada.com.

The One Bank

In 1980, it was intolerable for one entity to have even a 20% share of one, small market. In 2013, the same cabal of (Western) governments has allowed a “super-entity” to acquire double that share – not of a single (small) market, or a whole sector, or even an entire economy. Rather, this is a single “super-entity” with 40% control of everything.

Read more at: http://www.bullionbullscanada.com/intl-commentary/26287-the-one-bank

 

THE MONEY MASTERS

19 Reasons Why The Federal Reserve Is At The Heart Of Our Economic Problems – By Michael Snyder

Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.

Most people do not understand what the Federal Reserve is or why it is at the heart of our economic problems.

Download annexure: MONEY MASTERS

Also see: https://giftoftruth.wordpress.com/end-the-fed/

 

The Global Economy Is a Giant Ponzi Scheme

By Chris Hedges and Michael Hudson, CounterPunch, 26 March 2016

We’re going to be discussing a great Ponzi scheme that not only defines not only the U.S. but the global economy, how we got there and where we’re going. And with me to discuss this issue is the economist Michael Hudson, author of Killing the Host: How Financial Parasites and Debt Destroy the Global Economy. A professor of economics who worked for many years on Wall Street, where you don’t succeed if you don’t grasp Marx’s dictum that capitalism is about exploitation. And he is also, I should mention, the godson of Leon Trotsky.

I want to open this discussion by reading a passage from your book, which I admire very much, which I think gets to the core of what you discuss. You write:

“Adam Smith long ago remarked that profits often are highest in nations going fastest to ruin. There are many ways to create economic suicide on a national level. The major way through history has been through indebting the economy. Debt always expands to reach a point where it cannot be paid by a large swathe of the economy. This is the point where austerity is imposed and ownership of wealth polarizes between the One Percent and the 99 Percent. Today is not the first time this has occurred in history. But it is the first time that running into debt has occurred deliberately.” Applauded. “As if most debtors can get rich by borrowing, not reduced to a condition of debt peonage.”

Source: http://readersupportednews.org/opinion2/277-75/35966-the-global-economy-is-a-giant-ponzi-scheme

 

6 CORPORATIONS OWN 90% MEDIA

This infographic created by Jason at Frugal Dad shows that almost all media comes from the same six sources.

That’s consolidated from 50 companies back in 1983.

NOTE: This infographic is from last year and is missing some key transactions. GE does not own NBC (or Comcast or any media) anymore. So that 6th company is now Comcast. And Time Warner doesn’t own AOL, so Huffington Post isn’t affiliated with them.

But the fact that a few companies own everything demonstrates “the illusion of choice,” Frugal Dad says. While some big sites, like Digg and Reddit aren’t owned by any of the corporations, Time Warner owns news sites read by millions of Americans every year.

Here’s the graphic:

6 corporations

Source: http://www.businessinsider.com/these-6-corporations-control-90-of-the-media-in-america-2012-6

 

HYPNOTIC SATES OF AMERICA: These Corporations Control Almost Everything You Buy And Watch

… The largest 30 shareholders (out of more than 2,100 share controllers) owned or controlled some 51.4% of the assets of the 299 companies. This is a significant concentration of resources and power – 1.5% of shareholders controlling 51% of shares.

These 30 shareholders were made up of 21 private-sector shareholders and nine public-sector (that is, government-owned) shareholders. Nine government agencies between them account for 17% of the assets of the 299 very large corporations.

Importantly, one company that is relatively unknown outside financial circles, BlackRock Inc, held or controlled 6.1% of the assets of the 299 companies (around US$3 trillion) in 2009. It is a US financial company, mostly a “fund manager”, with offices in 30 countries and about 8,400 employees.

Read more at: Who owns the world? Tracing half the corporate giants’ shares to 30 owners

 

Big Stories the Controlled Major Mass Media refuses to report truthfully

If you watch the evening national network news and expect to get the truth about any major event there, you are sadly mistaken and actually wasting your time. All you will get there is big lies, false-narratives, distortions and USG and major corporate propaganda.

by Preston JamesAs a growing number of Internet users who read the Alternative Media websites realize, the Major Mass Media is Controlled by the CIA and serves Establishment cronies who are best described as the Ruling Cabal.This grim reality came to pass in fairly short order after the USA was infiltrated and hijacked by the City of London Rothschild Khazarian Mafia (RKM) private central Banksters in 1913 with their bribed passage of the Federal Reserve Act.The ability to print or issue all the money you need to buy, bribe or human compromise almost every single elected or appointed official quickly put the COL Banksters in total control of the USG and all major American institutions.And these RKM private central Banksters will remain in control until their illegal unconstitutional power to create money from nothing and charge pernicious accruing interest to use it is removed. How sick and twisted it is to defraud all Americans of the fruits of our labor. This greatest financial fraud in history is now a major RICO crime thanks to G. Robert Blakey, a legal genius who created this concept to defeat organized crime. Because the Federal Reserve System (FRS) private RKM Banksters’ crimes against America and We The People is a mega fraud there is no statute of limitations as with any major fraud.

Eventually the Establishment consolidated most American businesses into large international corporations that they could stack the boards of and quite easily control and these large corporations then stacked the USG with their choices for candidates who they made sure were elected. The result was that about 140 large international corporations seized control over the USG.

Naturally these large corporations are highly motivated to control all the Major Mass Media and the news that reaches the American masses. This in essence allows them to control We The People’s minds and keep things the way they want which is not often in the best interests of We The People.

Today the Major Mass Media has been consolidated into six large international media conglomerates, that report to a special news council best described as a “Roundtable” that is under the control of what many insiders claim is a large CIA proprietary, an international investment house that claims to be on the vanguard of investments.

This major investment house is reputed to be bifurcated into two parts, a legitimate part for investors, and a secret criminal part owned by the CIA and fully protected by the criminal invocation of so-called “national security”. Thus it is reasonable to refer to the Major Mass Media as the Controlled Major Mass media (CMMM).

It is also important that this group of six functions as an illegal News Cartel, that is an illegal News Monopoly designed to run major mind-kontrol and Psychological Operations (Psyops) against the American masses, whom the Establishments’ top dogs consider to be useless eaters and their true enemies.

Your local news reporters and “Talking Heads”that report the news are generally quite nice folks, ignorant but nice script readers, who know what they have been hired to read a prepared, approved script, and that’s it.

The only investigative reporting that is allowed is to help resolve business abuses of local citizens that do not cross a certain line.

I once had a talk with a retired Editor of a major Midwestern City large newspaper. When I asked him about why they didn’t report on all the available facts about the JFK Assassination, he said that he would have been fired by the next business day. He was well aware of his allowed parameters for the content of the newspaper and followed them, accepting things because “this is just the way it is”.

The National network Talking Heads are not so nice. Many are secret CIA agents, operatives or assets, and in fact William Colby once claimed that the CIA controlled every major news figure. Since then, some of the documents on Operation Mockingbird, a CIA effort to take full control of the news have been declassified, and with some released under Freedom of Information.

Read further at:

http://www.veteranstoday.com/2017/04/20/big-stories-the-controlled-major-mass-media-refuses-to-report-truthfully/

 

Next, a report on the global network of corporations: 

Revealed – the capitalist network that runs the world

An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

The study’s assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable.

The idea that a few bankers control a large chunk of the global economy might not seem like news to New York’s Occupy Wall Street movement and protesters elsewhere. But the study, by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically identify such a network of power. It combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world’s transnational corporations (TNCs).

“Reality is so complex, we must move away from dogma, whether it’s conspiracy theories or free-market,” says James Glattfelder. “Our analysis is reality-based.”

Source: https://www.newscientist.com/article/mg21228354.500-revealed–the-capitalist-network-that-runs-the-world

For further international and national reports that expose the mechanics of the oligarchy see: https://giftoftruth.wordpress.com/reports/

 

Our State-Corporate Plantation Economy

Source: OfTwoMinds blog, by Charles Hugh-Smith

We’ve been persuaded that the state-cartel Plantation Economy is “capitalist,” but it isn’t. It’s a rentier skimming machine.
I have often discussed the manner in which the U.S. economy is a Plantation Economy, meaning it has a built-in financial hierarchy with corporations at the top dominating a vast populace of debt-serfs/ wage slaves with little functional freedom to escape the system’s neofeudal bonds.
Since I spent some of my youth in a classic Plantation town (and worked on the plantation as a laborer in summer), the concept of a Plantation Economy is not an abstraction to me, but a living analogy of the way our economy works.
The Plantation Economy is extremely hierarchical. Corporations and the state are both extremely hierarchical.
In the Plantation Economy, the Company has access to nearly unlimited credit.Small businesses serving the employees and the employees have enough credit to live on but not enough to buy productive assets. As a result, the Corporation can always buy up any productive assets, expanding its monopoly.
The state also has an essentially unlimited line of credit which it can use to fund its favored cartels and state fiefdoms.
In the Plantation Economy, the Company suppresses any innovation that threatens its monopoly and the state enforces whatever means the Corporation deploys: buying up patents and small companies, predatory pricing to bankrupt competitors, etc.
The Plantation Economy is a mono-culture of large corporations and their partner in rentier skimming, the state. Our economy is a state-cartel finance-debt system; it’s only capitalist on the margins, that is, in the fringes that aren’t profitable enough for corporations to control.
The core feature of this Plantation Economy is the privileges of accumulating capital are all in the hands of the state-cartel elites. The foundation of classical capitalism is the accumulation of capital, which in our era is not just cash, factories, mines, etc.–financial and industrial capital–but knowledge capital: intellectual property, knowledge of processes, creation and control of content, research and development, control of information streams (that is, maintaining information asymmetry) and so on.
Those with unlimited access to low-cost credit can buy up or control all productive capital, including the labor of knowledge-based workers.
When an economy is optimized for global corporations, the only possible result of this arrangement is a Plantation Economy. Our economy is optimized for corporations: they have access to unlimited low-cost credit, their capital can be shifted around the globe at a moment’s notice (i.e. it is mobile), they have the tax advantages of incorporation and complex tax codes, they can declare bankruptcy without any limitations and wipe out their debts, they can engage in fraud, corruption and embezzlement and face no consequence other than a modest fine, they can suppress competition and their size enables dominance of the labor market.
Imagine if all these immense advantages were granted solely to worker-owned collectives and co-ops, and corporations were de-optimized, that is, they no longer had access to credit, their employees and managers could be jailed for systemic fraud and embezzlement, they paid high fees for merely existing and they were denied the ability to buy political influence as easily as an employee buys a loaf of bread.
The problem with a Plantation Economy is that it inevitably stagnates and collapses. Suppressing competition and innovation corrodes productivity, and as productivity and social mobility both fade, so does wealth creation.
The state-cartel Plantation eventually eats all its own seed corn via the vast expansion of credit. What appears to be “wealth” in the state-cartel Plantation is illusory asset bubbles fueled by state-engineered credit expansion.
Beneath this brittle veneer of great “wealth,” the real economy is stagnating.

Piercing the Corporate Veil

There was no major disagreement between counsel on the legal principles by reference to which a court is entitled to “pierce” or “rend” or “remove” the “corporate veil”. It is “hornbook” law that a duly formed and registered company is a separate legal entity from those who are its shareholders and it has rights and liabilities that are separate from its shareholders. A court can “pierce” the carapace of the corporate entity and look at what lies behind it only in certain circumstances. It cannot do so simply because it considers it might be just to do so. Each of these circumstances involves impropriety and dishonesty. The court will then be entitled to look for the legal substance, not the just the form. In the context of criminal cases the courts have identified at least three situations when the corporate veil can be pierced.

First if an offender attempts to shelter behind a corporate façade, or veil to hide his crime and his benefits from it.

Secondly, where an offender does acts in the name of a company which (with the necessary mens rea) constitute a criminal offence which leads to the offender’s conviction, then “the veil of incorporation is not so much pierced as rudely torn away”: per Lord Bingham in Jennings v CPS, paragraph 16.

Thirdly, where the transaction or business structures constitute a “device”, “cloak” or “sham”, i.e. an attempt to disguise the true nature of the transaction or structure so as to deceive third parties or the courts.

Download annexure: PIERCING THE CORPORATE VEIL

 

David Korten

wrote this article for his new series of biweekly columns on the “Living Earth Economy” for YES! Magazine. David is co-founder and board chair of YES! Magazine, president of the Living Economies Forum, co-chair of the New Economy Working Group, and the author of several influential books, including When Corporations Rule the World and Change the Story, Change the Future: A Living Economy for a Living Earth. His work builds on lessons from the 21 years he and his wife Fran lived and worked in Africa, Asia, and Latin America on a quest to end global poverty. Follow him on Twitter @dkorten and Facebook.

Capitalism or Socialism? There’s an Even Better Option

…Proponents of capitalism assure us we have only two choices: capitalism (big business) or socialism (big government). As we see the self-proclaimed capitalist regime’s incapacity to address growing economic desperation and accelerating social breakdown and environmental collapse, socialism, for all its own evident faults, becomes the only option…

…Assuming that capitalism is about the economy and democracy is about governance, we fail to recognize an essential truth: There is no political democracy without economic democracy.

In any economic system, power resides with the owners of the means by which people make their living. The power of kings resided in their ownership of the lands and waters from which their subjects harvested their food and quenched their thirst. Under socialism, government owns these assets in the name, but not necessarily the interest, of the people.

There is no political democracy without economic democracy.

Under contemporary capitalism, the rights and powers of ownership reside with global corporations that control jobs, resources, and markets. They own land, water, intellectual property, mining concessions, manufacturing, banks, schools, prisons, health care facilities, media—and politicians. They lavishly reward their board members and top executives for maximizing short-term profit without regard to social and environmental consequences—and replace them if they don’t.

Capitalism cultivates an illusion of freedom while consigning all but the few at the top to lives of wage and debt slavery. It is a far cry from either democracy or Adam Smith’s vision of local markets governed by a shared moral code and populated by local farmers, artisans, and merchants who own their own land and tools, care about their neighbors, and come to the market to exchange goods and services. Thomas Jefferson recognized Smith’s economic vision as an essential foundation of democracy.

Democracy is a governance system in which power resides in the people. That power cannot be limited to voting for political representatives every few years. It must be rooted in economic structures that distribute power equitably and link it to the interests of communities of place. Such structures can come in many forms: Individual and family enterprises, community-owned enterprises, cooperatives–large and small—and even governmental and quasi-governmental bodies.

Democracy is the life-serving alternative we seek to the life-destroying capitalist tyranny under which we now live. Democracy, not the false dichotomy of capitalism or socialism, should be the election’s framing issue.

Source: http://www.yesmagazine.org/new-economy/capitalism-or-socialism-theres-an-even-better-option-20160406

 

An Ex-MBA Student Reveals the Secrets of Business Academia

An open letter to Economists of the World

Dear Economists of the World,

Back in the late 1970s I was an Economics/Finance major at a prestigious MBA program that was closely affiliated with the University of Chicago. Many of the visiting professors came from UChicago, just as many at the University of Rochester took up positions there. No matter what subjects these professors taught, they all shared the same enthusiasm for the same basic economic models and financial theories.

The UChicago at the time was the ivory tower of Milton Friedman, considered by many as the “Father of Monetarism”. Because of this intimate relationship with UChicago, Friedman’s theories received a lot of attention at the UoR, many of which have proven to be absolutely true. Clearly, Uncle Milt, as we called him, possessed a towering intelligence and was unusually clear thinking … especially for an economist.

Uncle Milt also espoused many other good ideas including his sincere opposition to the existence of the Federal Reserve. However, like the vast majority of economists he was uncharacteristically blind in one particular regard. His Wikipedia page sums up that blind spot as follows:

His political philosophy extolled the virtues of a free market economic system with minimal intervention.

Given his deep knowledge base, broad experience set and extraordinary expertise in the realm of economics, is it at all possible that Uncle Milt was unaware of the Hidden Hand which operates throughout the entire Global Economic & Financial System — 24/7? Has there ever really been an authentic example of ‘free market’ capitalism anywhere on Earth?

The various market exchanges in 2015 (especially the NYSE) clearly demonstrate that each of the major markets is now transparently manipulated by the biggest economic heavyweights and financial powers on the planet. When Morgan Stanley wants to artificially depress the price of gold, they simply pull the right levers to do so. When Goldman Sachs wants to crash a company’s stock price, they know exactly what buttons to press.

The truth of the matter is that all of the markets — equity, bond, currency, commodity, derivative, real estate, insurance, carbon, etc. — are fastidiously controlled from behind the curtain. Each market has there own Wizard of Oz working their magic daily with smoke and mirrors, as well as an evening dog and pony show on TV.

The only way that this charade has persisted over so many decades is through the loyal and incessant facilitation of the economists of the world. They willingly publish the books, write the research papers and inform the mainstream media (MSM) with such a ‘compelling’ narrative so as to legitimize the whole fraudulent scheme. This has created a long-term, incestuous relationship between the corporate sector and the academic arena. This ongoing collusion has ultimately set up a quite precarious predicament which is rapidly heading toward a catastrophic global collapse.

It’s clear that most of the economists really don’t get it. Clearly they have been, and are, a part of the problem. That problem could not be more serious at this late date of development. One wonders if they would they continue to support the Wall Street behemoths with so many false economic models and fake financial theories if they knew where all this is leading to?

Just how critical have things gotten?

What follows is just one explanation of why the inevitable economic and financial breakdown can no longer be postponed … unless there is a major and unconditional transformation of the entire Global Economic & Financial System (GE&FS).

MATHEMATICAL CERTAINTY of a Terminal Breakdown of the Global Economic & Financial System

Source: http://stateofthenation2012.com/?p=16293

 

Poverty – Southern Africa

In a lecture by Advocate Mojanku Gumbi at the Steve Biko Memorial on the 10th of September 2015 stated: “In his often cited 1965 directive to his Party, the African Party for the Independence of Guinea and Cape Verde, the celebrated African scholar and leader Amilcar Cabral called upon his party members to: “Always bear in mind that the people are not fighting for ideas, for the things in anyone’s head. They are fighting to win material benefits, to live better and in peace, to see their lives go forward, to guarantee the future of their children”. He ends this directive as follows:

“Hide nothing from the masses of our people. Tell no lies. Expose lies whenever they are told. Mask no difficulties, mistakes, failures. Claim no easy victories”.

I intend to do my best to tell no lies. The size of the South African economy is almost R4 trillion (R3.8 trillion). The 2015 Statistics South Africa (StatsSA) mid-year population estimates put the population size at 54.9 million. The figures from Census 2011, which are the most complete and the ones I will use hereunder, puts the population at 51.7 million.

In 2006, 57.2% of the population was poor. In 2009 the figure was 56.8% and in 2011, using the best measure, 45.5%. Of the poor, 93.2% of them are black. That means, using the best figure, 23.6 million people were poor in 2011. (A UCT study published this week puts the figure of the poor at 63% of the population). Whatever the number, we have a serious problem on our hands.

Of the 23.6 million poor people, 94.2% are black, up from 92.9% in 2006 and 93.2% in 2009. This did not happen by mistake.”

Source: http://thabombekifoundation.com/

 

Reports

For example, the Financial Crisis Inquiry Commission, in its final report, uses variants of the word “fraud” no fewer than 157 times in describing what led to the crisis, concluding that there was a “systemic breakdown,” not just in accountability, but also in ethical behavior.

As the commission found, the signs of fraud were everywhere to be seen, with the number of reports of suspected mortgage fraud rising twenty-fold between 1996 and 2005 and then doubling again in the next four years. As early as 2004, FBI Assistant Director Chris Swecker was publicly warning of the “pervasive problem” of mortgage fraud, driven by the voracious demand for mortgage-backed securities. Similar warnings, many from within the financial community, were disregarded, not because they were viewed as inaccurate, but because, as one high-level banker put it, “A decision was made that ‘We’re going to have to hold our nose and start buying the stated product if we want to stay in business.’”

Download annexure: PREDATORY CAPITALISM

For further reports on illicit capital flows: https://giftoftruth.wordpress.com/reports/

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