As many have said before, the ruling elite can just borrow all the money they want at almost zero interest rates from banks that create the money out of nothing and then they can go and buy up everything for sale in the world. Then the ruling elite will pay back the bankers the interest owed out of the profits they make from selling the world’s resources and commodities, but the bankers are the ruling elite. In other words, they got it all for nothing,
People born in resource countries may own almost nothing and be dead poor while all the profits from their country’s resources get sucked through Wall Street and the City of London. Now the elite own the whole world but not Russia and China, and that grieves them, about the profits they see lost, even though they have billions, or maybe even trillions.
You don't need an army to achieve World Domination; all you need is enough cheap credit to buy up everything that generates the highest value and/or income.
World Domination--it has a nice ring, doesn't it? Here's how to achieve it in 5 steps:
1. Turn everything into a commodity that can be traded on the global market: land, leases on land, options to purchase land, houses, buildings, rooms in slums, labor, tools, robots, water, water rights, mineral rights, rights to air routes, ships, aircraft, political power, shares in corporations, government bonds, municipal bonds, corporate bonds, student loans that have been bundled into debt-based instruments, the income from city parking meters, electricity, software, advertising, marketing, media, social media, food, energy, insurance, gold, metals, credit, interest-rate swaps and last but not least, financial instruments that control and/or pyramid all the real-world goods and assets that have been commoditized (i.e. almost everything).
Why is this the essential first step in World Domination? Once something has been commoditized, it can be bought and sold in the global marketplace in fiat currencies--currencies that are not backed by any real-world asset and that can be created out of thin air by central and private banks.
You see the dynamic, right? Create credit-currency out of thin air, and then use this "free money" to buy up the real world. Quite a trick, isn't it? Get a means of exchange for essentially nothing (i.e. money at near-zero interest rates) and then trade this for assets that produce goods and services everyone else needs or wants.
Now we understand steps 2 and 3:
2. Enable private banks to create money out of thin air via fractional reserve banking. You know the drill: banks can issue $15 in new loans for every $1 in cash they hold in reserve. (Depending on the current regulations, it might as little as $10 or as much as $35 that can be created and lent out for every $1 held in cash reserve.)
In the current zero-interest rate environment, this new money can be borrowed for near-zero carrying costs by corporations and financiers.
3. Establish a central bank with essentially unlimited ability to bring money into existence and use it to backstop the private banking sector. If the private banks get in trouble, no problem, the central bank is there to bail them out with unlimited lines of credit and an unlimited ability to create new money.
4. Undermine/destroy local economies' ability to organize production and consumption without using credit and fiat currencies (i.e. money controlled and issued by central and private banks). Trading goods on barter? Get rid of that. Using social ties rather than cash or bank credit to organize production and consumption? Eliminate that capability. Locally issued currencies? That's against the law. Using cash? bad, very bad--everyone must use banks and bank credit instead.
Once these four steps are in place, the 5th step is easy:
5. Buy up all the productive assets and income streams of the world with nearly free credit-money. No saver can compete with corporations and financiers with access to billions of dollars in nearly-free credit-money.
It doesn't matter if you earn $1,000 or $100,000 a year--you will be outbid.
Once everything can be bought on the global marketplace, and you have nearly unlimited access to super-cheap credit, you don't need an army to achieve World Domination; all you need is enough cheap credit to buy up everything that generates the highest value and/or income.
http://www.oftwominds.com/blogaug17/world-domination8-17.html
4 comments:
A crazy but technically feasible idea would be to have the Fed systematically expand its balance sheet by buying up majority stakes in all US corporations and also become the main creditor of key companies by acquiring their debt securities.
Since the dollar is accepted everywhere as a means of payment this could likely be extended abroad with the help of agreements with other central banks in order to enable the necessary clearing and settlement of payments.
At the end of this process a single government agency (the issuer of the currency) could be dictating the policies - and receiving the dividends - of what were once "capitalist" institutions.
We would have a form of socialism with the Fed at the helm - not only in the US but maybe also in the world at large. Plus guaranteed American hegemony without a single gunshot being fired or a bomb being detonated. All done by peaceful, nonviolent means.
How come the left has never thought about that - harnessing the power of the currency sovereign to implement the socialist dream of thinkers of the calibre of a Proudhon, Marx, Russell or Einstein?
At the end of this process a single government agency (the issuer of the currency) could be dictating the policies - and receiving the dividends - of what were once "capitalist" institutions.…
How come the left has never thought about that - harnessing the power of the currency sovereign to implement the socialist dream of thinkers of the calibre of a Proudhon, Marx, Russell or Einstein?
Marx held — correctly, I think — that the historical dialectic is a set of boundary conditions in terms of which the viability of only some ideas is possible owing to the level of development of the material forces of production that affect the relations of production.
In the social production of their existence, men inevitably enter into definite relations, which are independent of their will, namely relations of production appropriate to a given stage in the development of their material forces of production. The totality of these relations of production constitutes the economic structure of society, the real foundation, on which arises a legal and political superstructure and to which correspond definite forms of social consciousness. The mode of production of material life conditions the general process of social, political and intellectual life.
This means that even if the left had thought of it, the conditions would not be ripe for implementing, or even having it considered.
This is indicated by "crazy but technically feasible" in the above.
Marx continued:
Mankind thus inevitably sets itself only such tasks as it is able to solve, since closer examination will always show that the problem itself arises only when the material conditions for its solution are already present or at least in the course of formation. In broad outline, the Asiatic, ancient, feudal and modern bourgeois modes of production may be designated as epochs marking progress in the economic development of society.
The modern bourgeois modes of production have not yet exhausted their potential.
Marx speculates that when this potential has been exhausted humanity will come into its own, which meant for Marx that would be able to be free economically rather than only a few.
The bourgeois mode of production is the last antagonistic form of the social process of production – antagonistic not in the sense of individual antagonism but of an antagonism that emanates from the individuals' social conditions of existence – but the productive forces developing within bourgeois society create also the material conditions for a solution of this antagonism. The prehistory of human society accordingly closes with this social formation.
Technological advances that Marx could not anticipate in his wildest dreams now put this within reach in the near future, if humanity can endure through the phase transition to it, which will likely involve considerable conflict according to dialectical logic. This is problematic because the very conditions that promise to make effecting this transition possible also make it possible for humans to destroy themselves in large numbers and even create an extinction event.
But necessity is the mother of invention, so maybe the time is approaching for such ideas to be surfaced and get traction.
even if the left had thought of it, the conditions would not be ripe for implementing, or even having it considered
It's true.
But it's also a fact that - historically - socialist ideas were implemented in ways never imagined by the founders of 19th century socialism: via violent coups carried out by minority parties controlled by intellectuals, under conditions of chaos coinciding with defeats in major wars or extreme civil strife.
Left-leaning intelectuais shouldn't analyze the 21st century with eyeglasses built 50 or 100 years ago. Under Fiat money central banks hold perhaps the more important of all powers. That such an institution is systematically misunderstood, badly studied or utterly ignored by people who claim to fight for societal change does not bode well for the likelihood of such changes.
Post a Comment