Dear people, the truth is out; predatory capitalism has turned everything we hold sacred into an “asset” and a “resource”; and, is destroying the environment and the earth at an alarming rate; and, in total disregard for the sanctity of Life; we are now standing at…
Thirty Seconds to Midnight
by Regis Tremblay (full film)
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.’
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.
And, according to the Bill of Rights we have the right to a healthy environment. Time for we, the people to stand up for our rights; time for drastic action.
Join us in the Peoples’ Referendum!
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.
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?”
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:
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.
6 CORPORATIONS OWN 90% MEDIA:
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
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.”
Next, a report on the global network of corporations:
Revealed – the capitalist network that runs the world
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.”
For further international and national reports that expose the mechanics of the oligarchy see: https://giftoftruth.wordpress.com/reports/
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
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.
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).
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.”
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 illicit capital flow reports: https://giftoftruth.wordpress.com/reports/