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)
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.’
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.
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.
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?”
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.
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.
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.
A Cartography of the Globally Organized Corruption Networks
A Treasure Trove of Maps, Diagrams, Org Charts, and Family Trees;
Find over 250 images at: https://throughthelookingglassnews.wordpress.com/2017/11/24/q-anon-learn-to-read-the-map/amp/
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.
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.”
Hedge Funds, the Unacceptable Face of Capitalism: Their Role in Precipitating the Collapse of Financial Markets
…So, what are hedge funds?
They are essentially highly sophisticated, computerised gambling syndicates that predominantly use borrowed money to bet on the movement of quoted stocks and shares in order to make a fast profit.
They are unregulated in the sense that they are not restricted by many of the rules on financial investment applicable to banks and financial institutions and can buy whatever they want and invest in whichever way they see fit, without restriction. To make their investments, they invariably use borrowed money.
Whereas stock markets were originally intended as vehicles to facilitate investment by the public in both industrial and commercial enterprises in order to increase working capital to buy both inventory and machinery, hedge funds use the stock market to make profits by selling ‘short’. A type of sophisticated casino operation.
There is normally no requirement for a hedge fund to return investors’ money by any specific date and there is usually no stipulation that requires transparency in their operation or dealings. They normally require no special licence to operate.
Such operations will often charge investors 2% of funds, as a management fee, plus 20% of all profits made.
The typical hedge fund is a financial entity that doesn’t actually make anything or offer any service to the community nor does it facilitate or improve commercial activity. It is, in fact, predominately parasitic in its endeavours and is thought by many to work against both national and international interests.
There is also a contention that such operations, particularly those that work internationally, should in future either be banned altogether or be closely regulated, licenced and taxed, in the public interest.
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:
HYPNOTIC SATES OF AMERICA: These Corporations Control Almost Everything You Buy And Watch
Everything We Eat & Drink Are Completely Controlled By These 10 Companies (Infographic)
Scour the aisles of the grocery store, and you may be astonished to find just how many types of Pringles there are out there. But while there seems to be no end to the diversity of junk food, a comprehensive infographic has been put together to show you just how few corporations provide us with the hundreds of products available at our fingertips.
Oxfam International created the infographic that exposes an inconceivable reality: Just 10 main corporations manufacture the majority of what we purchase at the market.
“What we did is we took certain issues … [and] we saw the kind of impacts they had on the ground,” Chris Jochnick of Oxfam told NPR. “We released reports about those issues and those impacts and how they’re tied to the 10 largest food and beverage companies. And then we pushed the companies to begin to address them.”
You may not normally associate makers of soda with makers of granola bars, but seeing these unlikely ties that form the “Big 10” of the food and beverage industry controlling what we put in our carts proves just how easy it is to be duped by the American food system. For instance, PepsiCo produces Quaker granola bars, while Nestlé makes frozen California Pizza Kitchen pies. Want to feel even more misinformed? Pineapple Fanta doesn’t come from a tropical island at all, but is canned at the Coca-Cola factory, just like Barq’s root beer.
“These corporations are so powerful that their policies can have a major impact on the diets and working conditions of people worldwide, as well as on the environment,” noted Alexander E.M. Hess in USA Today.
The fact that you can count on just two hands who controls our groceries is a bizarre thought, but a much-needed realization. They include: PepsiCo, General Mills, Kellogg’s, Associated British Foods, Mondēlez (formerly Kraft Foods), Mars, Danone, Unilever, Coca-Cola, and Nestle.
Even more disturbing is the fact that it’s not just the junk food that’s involved. These giant corporations make it extremely difficult for startups and small businesses to compete at all. Furthermore, while OxFam America only examined the top-earning companies for its campaign, natural brands have been a part of big buyouts, too. So while you may opt for brands you consider to be better choices, liked Naked Juice and Garden of Eatin’ all-natural chips, many of our favourite alternatives still cost more but are now owned by the very companies we’re trying to avoid, like Coca-Cola and General Mills.
Also disturbing is the environmental impact these companies are having on the health of our planet. As Business Insiderreported, “the Big 10 emitted 263.7 million tons of greenhouse gas emissions in 2013 and if the companies were a nation, it would be the 25th most polluting country in the world.”
To take action, you can help by steering clear of the Big 10 altogether. That means being aware of everything they manufacture, and ensuring you don’t buy any of those products. Choose to shop at your local farmers’ markets, and continue to do your research when it comes to the small-scale brands you love, because you never know when they may get bought out, too.
<p><em>Q. Doesn’t the role of the dollar as an international currency create systemic risk? </em></p>
<p><strong><em>Noyer:</em></strong> Beyond [the BNP] case, <strong><em>increased legal risks from the application of U.S. rules to all dollar transactions around the world will encourage a diversification from the dollar</em></strong>. BNP Paribas was the occasion for many observers to remember that there has been a number of sanctions and that there would certainly be others in the future. <strong>A movement to diversify the currencies used in international trade is inevitable. Trade between Europe and China does not need to use the dollar and may be read and fully paid in euros or renminbi. </strong>Walking towards a multipolar world is the natural monetary policy, since there are several major economic and monetary powerful ensembles. <span style=”text-decoration:underline;”><strong>China has decided to develop the renminbi as a settlement currency. </strong></span><strong>The Bank of France was behind the popular ECB-PBOC swap </strong>and we have just concluded a memorandum on the creation of a system of offshore renminbi clearing in Paris. We have very strong cooperation with the PBOC in this field. But these changes take time. <strong>We must not forget that it took decades after the United States became the world’s largest economy for the dollar to replace the British pound as the first international currency. </strong>But the phenomenon of U.S. rules expanding to all USD-denominated transactions around the world can have an accelerating effect.</p>
<p>In other words, the head of the French central bank, and ECB member, Christian Noyer, just issued a direct threat to the world’s reserve currency (for now), the US Dollar.</p>
<p>Putting this whole episode in context: in an attempt to punish France for proceeding with the delivery of the Mistral amphibious warship to Russia, the US “punishes” BNP with a failed attempt at blackmail (recall <a href=”http://ift.tt/1mQDINx”>that as Putin revealed</a>, the BNP penalty was a used as a carrot to disincenticize France from concluding the Mistral transaction: had Hollande scrapped the deal, BNP would likely be slammed with a far lower fine, if any). Said blackmail attempt backfires horribly when as a result, the head of the French central bank makes it clear that not only is the US Dollar’s reserve currency status not sacrosanct, but “the world” will now actively seek to avoid USD-transactions in order to escape the tentacle of global “pax Americana.” </p>
<p>And, the biggest irony of all is that in “punishing” France for dealing with Russia, that core country of the <em>Eurasian </em>alliance of Russia and China, <strong>the US merely accelerated the gravitation of France (and all of Europe) precisely toward Eurasia, toward a multi-polar (sorry fanatic believers in a one world SDR-based currency) and away from the greenback. </strong></p>
<p>Or shown visually (as we have ever since 20120).</p>
<p><a href=”http://ift.tt/1m0xjPC”><img src=”http://ift.tt/1m0xjPC” width=”549″ height=”465″ /></a></p>
<p>Meanwhile, somewhere Putin is still laughing.</p>
<p><img width=’1′ height=’1′ src=’http://ift.tt/VLHvBT’ border=’0′ /></p>
<p><a href=”http://ift.tt/1lFH2WE” rel=”nofollow”><img src=”http://ift.tt/VLHuxU” border=”0″ /></a><br /><a href=”http://ift.tt/1lFH2WG” rel=”nofollow”><img src=”http://ift.tt/1lFH1lO” border=”0″ /></a><br /><a href=”http://ift.tt/1lFH2WK” rel=”nofollow”><img src=”http://ift.tt/VLHuy2″ border=”0″ /></a></p>
<p><a href=”http://ift.tt/VLHvC3″><img src=”http://ift.tt/VLHvC5″ border=”0″ /></a><img width=”1″ height=”1″ src=”http://ift.tt/VLHvC7″ border=”0″ /><img src=”http://ift.tt/1lFH2WU” height=”1″ width=”1″ /><br />
via Zero Hedge <a href=”http://ift.tt/1lFGosf” target=”_blank”>Read More Here..</a></p>
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Vía Collective Evolution http://ift.tt/2AAR9Qv
Who owns the world?
… 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.
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.
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:
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/
Our State-Corporate Plantation Economy
The Complete History of Monsanto, “The World’s Most Evil Corporation”
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 reports on illicit capital flows: https://giftoftruth.wordpress.com/reports/