We are coming up to the seventh commemoration of World War Two when hundred thousands of young souls gave their lives to stop the spread of Fascism in Europe which is now once more knocking on the door of Brussels. We all know the reasons why. The distribution of wealth remains in the hands of the rich.
At this point I could wax lyrical for pages and pages about what really makes one rich in our lives to no avail. So let’s look at one of the reasons why a tattooed individual is going to take his seat in the European Parliament with a swastika on his arm.
The euro zone unemployment rate has hit a record high at 11.8% with 18.8m people out of jobs.
A tiny elite are getting richer, the rest of us are getting poorer.
This is a familiar story in a world where greed and extreme wealth are central to the dominant capitalist system.
The annual Forbes billionaires list is an opportunity to test politicians promises that we are really
“All In It Together”.
The latest Forbes ranking, totalling a record 1,426 super rich (120 more than last year), globally represents a fortune of $5.4 trillion. That’s up from the $4.6 trillion a year earlier.
As you might expect, the United States continues to dominate the list, with 442 super-rich, followed by Asia-Pacific, with 386, and rest of the Americas producing 129 and the Middle East & Africa 103.
Although now the epicentre of austerity, the EU contributes heavily to the American business magazine’s hall of shame. And many of the richest among them have become even more filthy rich.
This at a time when most people on the Old Continent have been getting poorer, by 14%, to be exact, or one trillion dollars, according to a recent Credit Suisse study looking at household wealth.
The gap between rich and poor has grown even in the most traditionally egalitarian European countries, such as Germany, Denmark and Sweden, with the average income of the richest 10% compared to the poorest 10% rising from 5 to 1 in the 1980s to 6 to 1 today, according to a OECD reported published in December 2011.
Divided We Stand: Why Inequality Keeps Rising” .
Our most urgent priority is to build Europe on the basis of equality, solidarity, and authentic democracy.
EU institutions and European governments now serve the interests of financial markets, with no respect for popular sovereignty. They must be brought under democratic control, just as the public interest must prevail and ecological and social needs be met. We base our demands for a democratic, social, ecological and feminist Europe on these principles, in solidarity with the people’s of the world.
Austerity policies attack economic and social rights and dismantle social protection. They lead to a drop in the standard of living and in many countries to acute humanitarian distress. The consequences are massive unemployment as well as a serious downgrading of working and living conditions. These, in turn, lead to unacceptable increases in poverty: today, 120 million people in the EU are poor.
For decades financial markets built and operated within a world economy in which they face no obstacles. The speculation they engaged in lies at the heart of most problems facing us today and still speculative traders continue to take money out of people’s pockets.
Now don’t get me wrong. I have nothing against a man getting rich or staying rich. The Capitalist system will ensure their existence, and long may they do so. No Wealth no Tax Mansion Tax or what ever tax will solve the problem of Greed.
However there is a way of getting Electronic Trading Platforms and Computer-driven algorithmic trading strategies and the like to contribute to the distribution of wealth worldwide.
The Foreign Exchange Market is known to be the largest financial market in the world, as measured by daily turnover. It is estimated to be anything from $3.2 trillion to $5 trillion a day. Six times larger than trading in US Treasury Bonds and thirty times larger than trading on the New york Stock Exchange.
A 0.05% AID COMMISSION ON ALL WORLD FOREIGN EXCHANGE TRADING WOULD DO THE TRICK. SAVE THE WORLD FROM THE RICH. ( SEE PREVIOUS BLOGS)