READ THIS AND WEEP:

11 Friday Jul 2014

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The kings of capitalism think their privileged positions essentially as a natural right while our Economy, our Democracy and our societies are paying for gross inequities.

The deprivations of one generation are being visited upon the next.

Economic inequality translates into political inequality and political inequality leads to increasing economic inequality and wars. People have been shooting at each other since the 13th century.

The true test of an economy is not how much wealth its princes can accumulate in tax havens, but how well off the typical citizen is.

Is not the above the picture what we should have in Western Economies these days. A fair distribution of wealth befitted to all irrelevant to their circumstances or class.

Instead we have subsidies to rich farmers as our governments cut back on nutritional support for the needy.  Or, Drug companies get billions as health care is limited. Or, Banks that brought on the global financial crisis got billions while we lost out homes due to their predatory lending practices. Then of course we have Quantitative easing that is supposed to trickle down to us punter only to evaporate on the balance sheets of the banks.

So it no wonder that our divisions are deep.

We have soaring University fees and declining incomes resulting in larger debt burdens for the young and old along with Mass incarceration and Justice only affordable to a few. All served up by those suffering from dead behind the eyes disease.

All this is happening while High frequency trading, sovereign wealth funds and foreign exchange transactions continue to rip us all off.

What should we do?

WE MUST CHANGE THE RENT SEEKING SOCIETY WE HAVE GRAVITATED TOWARDS IN WHICH WEALTH PEOPLE OBTAIN PROFITS BY MANIPULATING THE SYSTEM.

If you don’t believe me just look at the trend that has developed over the past third century leading to violent extremes of wealth and income which has produced Slums Mortgages and the Shining city on the hill.

One third of the urban population of developing countries now live in SLUMS.

SOME FOR OVER THREE DECADES.

They that is Slums are the true testimonial to Inequality.

An impediment to advancement, A curse to Hygiene, a source of ill-health, rent havens for landlords, Cheap labor source, exploitation and crime depots, propagators of diseases, and poverty, recruiting camps for terrorists, Capitalistic warts, photos for tourists and coffee table books.

The dynamics of the imperial capitalism of the 19th century needn’t apply in the democracies of the 21st century.

Corporations interest argued for getting rid of regulations, even when those regulations did so much to protect and improve our environments, our health our safety our economy itself.

Long live Mrs Thatcher and her buddy Ronald  Reagan, the free market.

Also Bin Laden, Bush and Blair with the Axis of Evil. Their combined ideology was hypocritical because they all ensured that the rules of the game to keep wealth at the top of the political agenda through politics.

What have we ended up with?

Growth has gone to the very, very top while quarter of all American children under five live in poverty, with mass incarceration beginning to define America – a country with about 5% OF THE WORLDS POPULATION, but around a fourth of the world’s prisoners.

The time has come to end special privileges of speculators, corporations and the rich. The Politics of Greed must change. Just because you have heard it all before it does not mean it cannot be done. We all created the god dame problem and turned a blind eye to it creating Climate change. We all must now mend it before its to late.

Perfect competition should drive profit to zero.

We are not in a position to eradicated Slums and their living blemish on all of us, but we can come together to demand a World Aid Commission of 0.05% be placed on all High frequency trading, sovereign wealth funds and Foreign Exchange Transactions over $20,000.(see previous posts)

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The billions created by such a Commission would go a long way to re-balancing the Have’s and Have not’s.  

What can you do in thirteen-thousandths of a second?

08 Tuesday Jul 2014

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A few days ago I posted a blog describing Dark Pools in which High-Frequency traders exploit the stock markets.

If you have read any of my blogs you will see that I have bleated on about Capping Greed as the only solution to tackle our world problems.

It is this type of exploitation of making money out of money without contributing a farthing to making the world a better place that has to be undone, not just greed.

I advocate that this can be done within our Capitalist System with little or no cost without causing any major ripples in World trade or World Markets and the like. Sixty five people become $ millionaires each day.

This can be done without trying to change the system for better, or worse.

How?  By applying A World Aid Commission of 0.05% at source on all Foreign Exchange Transactions of over $20,000, on all Sovereign Wealth funds Acquisitions and on all High-Frequency traders on the stock markets.

The result would be a Perpetual World Aid Fund of billions to address all our current day problems of Poverty, Inequality, Education, Health, Aid, Development, Climate change, Drug research, to name just a few.

Since capitalism is inherently a system of exploitation, theft, and since capitalists, as a class, do regularly and systematically resort to lying, brutality, torture, oppression, murder, and war to defend their scam, capitalists are not merely greedy, they are in a lot of our minds outright criminals, especially when looking at sweatshops, unsafe mines, and toxic workplaces.

We should not limit our criticisms to the cruelty and greed of capitalists, but direct it to the system itself (although obviously such capitalists have to be able to at least stomach what they are doing, which is already a strong indictment of their characters). Being able to externalize (fob off onto the public) many of the costs of production is almost a definition of capitalism, as a system of competing, profit-based, corporations, supported by nation-states.

You could say that Capitalism is condemned because it is based on the exploitation of one class by another, so that the exploiting class can enrich itself, or simply remain in power. A few get rich, while most remain poor. In fact, the few are rich precisely because the many are poor, because the wealth of the few is stolen wealth, taken from the labors of the many. It is not just that someone is getting rich, it is their getting rich at the expense of others that is the problem.

There is no way of stopping exploitation other than exposing it in all it’s forms. We are yet to have a conscience at all about the exploitation of human cultures. If it is, in reality, capitalism that is the motor force behind the destructive forms of globalization, then it must be in their capacity to neutralize or transform this particular mode of exploitation that one can best test these various forms of resistance to the problems.

A common danger tends to concord.

Communism is no better as it the exploitation of the strong by the weak. In Communism, inequality comes from placing mediocrity on a level with excellence.

It is only by portraying and exposing capitalists as the criminals they are that we can begin to break through their ideological defenses and destroy their credibility. If we were all getting rich together, and if this were accomplished without destroying the earth, it would be another thing entirely. It would either be paradise or hell on earth.

Under capitalism, just as under all previous social orders based on hierarchy and class, everyone does not get rich. The normal way is profit-making, by exploiting wage-slaves, and defending all the institutions needed to perpetuate this exploitation, through murder and war if need be.

I come now to a case that I finally have to admit is nothing but pure, unadulterated greed — the salaries of today’s crop of corporate executives. The millions they are raking in is preposterous when you look at Food banks, people sleeping on the streets, charities begging, people struggling left right and center, while politicians bend and privatize or lives.

Globally the Greens have arisen like a spontaneous combustion, a reaction to the narrow-minded state-backed exploitation of resources and wealth for a few at the expense of the many.

So what can we achieve in a blink of an eye. Remembering that we share  one-third of our DNA with lettuce we can only hope that the other two-thirds can see the light.

We can unite into one voice to demand a 0. 05% World Aid Commission by Sponsoring a world Peoples mandate to be passed by the United nations on behalf of all of us and the earth we all live on of put in place such a Commission.

 

 

 

 

 

 

There are no military solutions to ‘environmental insecurity’.

07 Monday Jul 2014

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earth from space wallpaper hd 1024x576 Earth from space wallpaper hd

In the middle of the 20th century, we saw our planet from space for the first time.

From space, we see a small and fragile ball.

Over the course of this century, the relationship between the human world and the planet that sustains it has undergone a profound change.

The traditional forms of national sovereignty raise particular problems in managing the ‘global commons’ and their shared ecosystems – the oceans, outer space, and Antarctica. Many such changes are accompanied by life-threatening hazards.

Our Common Future, does not have to be a prediction of ever-increasing environmental decay, poverty, and hardship in an ever more polluted world among ever decreasing resources but the time has come to take the decisions needed to secure the resources to sustain this and coming generations.

 

This new reality, from which there is no escape, must be recognized – and managed.

There are more hungry people in the world than ever before, and their numbers are increasing. So are the numbers who cannot read or write, the numbers without safe water or safe and sound homes, and the numbers short of wood fuel with which to cook and warm themselves. It is impossible to separate economic development issues from environment issues; many forms of development erode the environmental resources upon which they must be based, and environmental degradation can undermine economic development.

Poverty is a major cause and effect of global environmental problems.

The gap between rich and poor nations is widening – not shrinking – and there is little prospect, given present trends and institutional arrangements, that this process will be reversed.

Humanity’s inability to fit its activities.

There is a growing scientific consensus that species are disappearing at rates never before witnessed on the planet, although there is also controversy over those rates and the risks they entail. Yet there is still time to halt this process

The changes in human attitudes that we call for depend on a vast campaign of education, debate, and public participation. A new international programme for cooperation among largely non-governmental organizations, scientific bodies, and industry groups should therefore be established for this purpose.

By the turn of the century, almost half of humanity will live in cities; the world of the 21st century will be a largely urban world. A safe and sustainable energy pathway is crucial to sustainable development; we have not yet found it

The world manufactures seven times more goods today than it did as recently as 1950. There is only one solution. CAP GREED AT SOURCE.( See previous blogs)

WE HAVE ALL HEARD OF BLACK HOLES BUT HOW ABOUT A DARK POOL

06 Sunday Jul 2014

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Dark Pools are generally operated by banks, they are supposed to be a safe way for institutional investors to execute block trades without worrying that their transactions will move market prices.

Another way to make money out of money just for the sake of profit.

Off-exchange venues have mushroomed in the past several years along with high-frequency trading, a twin development that demands more scrutiny.

Today, more than a third of equity trading in the United States and Europe is done outside the public exchanges, and most major banks run dark pools, including Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS and Barclay’s.

Powerful computers, some housed right next to the machines that drive marketplaces like the New York Stock Exchange, enable high-frequency traders to transmit millions of orders at lightning speed and, their detractors contend, reap billions at everyone else’s expense before the deal is completed.

Powerful algorithms — “algos,” in industry parlance — execute millions of orders a second and scan dozens of public and private marketplaces simultaneously. They can spot trends before other investors can blink, changing orders and strategies within milliseconds.

Those small payments, spread over millions of shares, help high-speed investors profit simply by trading enormous numbers of shares, even if they buy or sell at a modest loss.

High-frequency traders generated about $21 billion in profits last year. But with some 40 percent of stock trades now occurring off-exchange, there is mounting evidence that the shift is obscuring the true prices of stocks, raising the cost of trading and, by extension, damaging investor confidence.

In recent days it has being claimed banks covered up predatory high-speed trading in dark pool operations. Barclays being named as one enriching its pockets at the expense of investors. There is no reason to believe that this kind of wrong doing is limited to Barclay so financial regulators are to impose more transparency which is a complete Jock.

I can hear you saying what is got to do with me. A profit is a Profit whether is honest or not.

However the question must be asked, is there such a thing as an honest profit with the Internet becoming a critical platform for international trade in the 21st Century.

The cross-border flow of information is increasingly providing a vast range of economic opportunities that if realized will drive innovation, invention and productivity growth. At the same time as the significant economic potential of the Internet is beginning to be more fully realized, governments are increasingly intervening in the operation of the Internet in order to address challenges such as from cyber crime and ensuring data privacy.

Over 2.3 billion people have access to the Internet and this figure is expected to grow to five billion by 2020. The Internet has the potential to change how international trade is conducted.

The words ‘to make money’ hold the essence of human morality…Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers who claim your product by tears, or of the looters who take it from you by force. Money is made possible only by the money. Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow …

Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money.

What I consider to be evil about Dark Pools, algorithms,  high-frequency trading is that they all generate profits for those that don’t need more profit.

They do so without contributing one iota to the problems facing all of us now and in the future.

This is why me must capture Greed at it source.

To place a 0.05% World Aid Commission on all such transactions over $20,000.  It will cost us nothing but it can only be achieved by all of us demanding it. ( See previous Blogs)

There is no use sitting under your energy-saving light bulb with a shopping bag for life. If you want to do some think spread the word. I can guarantee you it will make you feel a lot better.

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THE FUTURE IS PRICELESS : Look how quickly our world is transforming around us.

03 Thursday Jul 2014

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I found this map posted on the Geospatial World website, reproduced below,  it shows those ares of the planet that have faced significant drought since 1981.

The question is what are we doing about it?

We that is us humans are of course fighting to see who is going to own it.

When in fact the whole lot will be owned by Sovereignty Wealth Funds long before any wars/ conflicts have ended.

However don’t despair.  Whether we are on the threshold of a Golden Age or on the brink of a global catastrophe that will extinguish our civilization is, I believe, not only unknowable, but also undecided.

In the mean time our Politicians often can’t see past the next election. Many business leaders seem focused only on the next quarter. The media spends most of its time on trivia.

Meanwhile, long-term problems and opportunities are ignored.

We can do nothing to change the past, but we have enormous power to shape the future.

Of course, we feel abysmally ignorant of how to proceed, but as we join together, forming networks of human concern about the future, I believe we will find the strength and wisdom needed to create a better future world.

(See previous blogs)

” Foresight is the key to survival in a world of disruptive innovation.

To be efficient and effective in today’s complex, interlinked and fast-changing environment,governments need to redesign their structures and processes to capitalize on a new set of actors and tools.

One way or the other just in case we all awash in sea water with ever-growing amounts of useless data we had best have some global survival action plans ready.

The future is indeed priceless.

It will be filled with digital implants, mind controlled exoskeleton upgrades, age reversal pills, hyper-intelligence brain implants and bionic muscle upgrades all of which are destructive enough to lay waste to global commerce, electrical grids, and civic order around the world.

If they ever did come to pass. All of these technologies will literally make us more Trans-human.

In the near future, smart phones will fade into digital history as the high-resolution smart contact lens and corresponding in-ear audio plugs communicate with our wearable computers or “smart suits.”

The “cloud” will become more intelligent, not just a place to store data.  

Cloud intelligence will evolve into becoming an active resource in our daily lives, providing analysis and contextual advice. All information will be instantaneously available in the augmented visual future.

So once again I ask the question what are we to do in our present world, where distribution of wealth is skewed. Where only 20% of the population enjoy the benefit of life in the developed world. Where the gap between the haves and have-not’s continues to in-crease.  Were Globalization continues to be better tailored to the prospects of the able and the strong, and, although of value to human competition and progress, it serves only that fraction of the world that has revolutionary advances in technology and Capital.

Right now we have a world at the beginning of the 21~~ century divided, not only politically but also between hope and hopelessness.

It’s no wonder in a world seeking prosperity through globalization and revolution that the world’s population who are able to exploit the market and the available re-sources are turning to Sovereignty Wealth Funds SWFs

These are the source of the questions we will have to face in a very complex future.

Are we all going to stand by while the privatization of every think we value is plundered for the sake of profit.

To shape our future in we need to develop a new perspective – one encompassing the economic, political, religious, and cultural dimensions of world affairs.

This can only be done if we place a value on all that is precious to life itself.

We might be able to create our own reality with clusters of information cults. But they if you are lucky enough to be in one of these groups they can only see certain augmented information realities.

Across the globe, religion remains an influential force, one that impacts how we view ourselves, each other, and the world around us.  But all the prayers in the world  will not provide fresh drinking water, clear unpolluted air, energy, food. health, education, and peace. They will not invent new antibiotics, stop mass immigration, or win the lotto.

Nor will they stop by 2050, the scale of extinctions of ocean-dwelling plants and animals that may equal the five great global extinctions of the past 600 million years.

There is only one Solution. We must make greed contribute to all of us.

( See Previous Blogs)

The Vanishing Beauty of our Fragile Planet can being seen at ( Robert de Mayo Dillon @ no1bob dillon)

 

 

 

 

 

 

 

 

ON WE MARCH LEAVING FUTURE GENERATIONS THE PROBLEMS OF INEQUILITY

30 Monday Jun 2014

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This is a vast subject on which millions of knowledgeable words have been written down the centuries with little or no effect.

I am sure you will agree however no matter who was writing it is the people who are in pursuit of social change, and constantly bring attention to issues of equal rights and privileges, are often the people who do not have them. The ones who suffer daily from different levels of multidimensional inequality are the ones that see it is impossible to be politically equal.

The source of present day conflicts. 

The majorities at the bottom of the apex, with very limited power, are unable to make choices that would bring them to their ends. 

It is easy for us to say what should be done, but few of us can carry out what needs to be done.

ALL THOSE WORDS AND VOILA! WHERE ARE WE TO DAY?

With a Capitalist market which is earthly constructed that can only dole out earthly rewards.

If we continue to have so many social and economic inequalities our standard of living seems to be declining because we aren’t economically equal.

Some say in order to remove inequalities we must increase the minimum wage to a living wage. This will indeed save the middle classes and in doing so could reduce the need for food banks, social welfare benefits, and the like. In my view it would be a mistake to focus on growth and let inequality take care of itself, not only because inequality may be ethically undesirable but also because the resulting growth may be low and unsustainable.

Equality will not stop inequality of opportunity, education, health nor will it take people out of poverty. It will only move the reasons for inequality to a higher plane.

The drive to higher and more sustainable growth does not in itself support efforts to the redistribute of wealth.

There is an argument that a re-distributive system will slow innovation on quality of life improvements. Further, re distributive policies rely on the wisdom of the ‘redistributor.’ Freedom to choose those resources has been moved to the bureaucrat and politician and will ultimately lead us down the path of financial protectionism.

Now you might not agreed with the content of the above Paragraph but it is already in progress with more and more countries turning to Sovereign Wealth Funds’ (SWF) to protects their futures.  ( See Previous blogs)

These Funds have no outside beneficiaries or liabilities (beyond the government or the citizenry in abstract) they invest their assets, either in the short or long-term, according to the interests and objectives of the sovereign sponsor.

More and more Governments around the world see SWFs as an insurance policy for a potential future problem.

Political equality the most value of democratic theory. The idea that all have the capacity to make political and moral decisions and that we are equally qualified to rule is a long way off, if ever has long gone out the window.

What are the chances now that we have the start of Climate change that we can act as one. Fat chance of that coming about as the Climate is a salable product- CO2 carbon credits ( not worth the paper they are written on)

There is much work to be done Globally in a tight time frame if we don’t want mass immigration.

Development is about people: either poor people have ways to become richer where they are now, or they can become rich by moving somewhere else.

Rest assured that with CLIMATE CHANGE THIS IS EXACTLY WHAT IS GOING TO HAPPEN.

With this in mind, it seems that most of these theories about re distribution of wealth come from fairly elite class perspectives and, in turn, tend to be more pessimistic about bringing change to the inequalities they are evaluating.

When in fact what will happen is that these SWFs will reach out to each other taking advantage of the forthcoming crisis forming partners or in “clubs.”capital.

These funds that Sovereignty Wealth Funds bring to the table are committed to improving their investment capabilities not reducing income inequality. They have taken advantage of the financial crisis by acquiring valuable human resources which has nothing to do with improving the quality of living for the masses.

If not Capped they will along with Climate Change they will rewrite the map of global.

There is only one solution. Make Greed Contribute. ( See previous Blogs)

 

 

WE LIVE IN A WORLD STILL FUMBLING IN DARKNESS

26 Thursday Jun 2014

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Today “governments are everywhere embracing the free-market gospel, but should we leave the Capitalist free Market to handle Climate Change.

The answer is no.

History tells us so.  History Does Not Show that Business Forces Make Companies Efficient. Some claim free markets lead to greater prosperity than other economic policies.

I say that the selfish simply spend the extra money on themselves thereby setting an example for others that if you want a more affluent lifestyle you should be selfish. Left to regulate themselves in terms of climate change and the environment they are all ready turning both into products for Profit.

If we need pollution control, we don’t want it regulated by industrial companies.

We can choose to eat, drink and be merry today and die tomorrow; or we can choose to put limits on what we do today in order to live tomorrow. 

Consumer Choices Aren’t The Best Means For Citizens To Make Binding Group Decisions

There is more to life than merely increasing one’s money as fast as possible. A sense of security and dependability has some human value also.

Under American values any business with a conscience is at a disadvantage competing with companies without a conscience. These values are illustrated most dramatically by the wave of the future: telecommunications, the Internet, advanced computer technology, and the other wonders created by the exuberant American entrepreneurial spirit all unleashed by the market, by the huge transfer of public funds to private power, often under the traditional guise of “security.

We must put aside the intriguing contrast between doctrine and reality.

Meanwhile privatization proceeds apace elsewhere with Sovereign Wealth Funds taking control of the earth resources.

Control over food raises even more serious questions, in this case about survival.

Control over food supplies by foreign corporate giants is well under way, and with the agreement on telecommunications signed and delivered, financial services are next in line.

Just look at one important recent case, over considerable popular opposition the government of Brazil has decided to privatize the Vale Company, which controls vast uranium, iron, and other mineral resources and industrial and transport facilities, including sophisticated technology.

Also recently if you look a the Concentration of communications in any hands (particularly foreign hands) raises some rather serious questions about meaningful democracy.

Similar questions arise about concentration of finance, which undermines popular involvement in social and economic planning.

The free market gospel is preached (to the poor and defenseless) while protectionism through Sovereignty Wealth Funds is reaching unprecedented heights, and what are Administrations doing. Poured public funds into high-tech industry with unusual abandon.

Here we begin to reach the heart of the matter. Sovereign wealth funds activities must be caped if we want a free market and not Protectionism.

(See previous blogs)

We shall require a substantially new manner of thinking if mankind is to survive.”

23 Monday Jun 2014

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Stupidity has been around since the dinosaurs.

As Albert Einstein said  “Surely there is no-show that can possibly equate to the amount of mental diarrhea that is presented in every single microsecond.”

YOU MIGHT WELL ASK   “Why does applied science, which saves work and makes life easier, bring us so little happiness? The simple answer runs: Because we have not yet learned to make sensible use of it.”

Here is an Idea that might make a difference.

These days we carry cool devices that let us carry the world in our pockets, so why not use them to spread wealth, health, food aid and the like.

Its time we set a price on nature.

The people of the world can be asked whether and how much they prize the two values of nature – use value and non-use value.

This can be done WITH AN UNITED NATIONS APP that rewards the user by issuing a United Nations Food voucher to the deprived.

We would soon know what is valued and what is not.

Nature provides ecosystem services, and we trash it at our peril.

Our activities have put and are putting priceless resources – fresh water, clean air, oceans, and our climate at risk.

Man tries to make for himself in the fashion that suits him best a simplified and intelligible picture of the world; he then tries to some extent to substitute this cosmos of his for the world of experience, and thus to overcome it.

This is what the painter, the poet, the speculative philosopher, and the natural scientists do, each in his own fashion. Each makes this cosmos and its construction the pivot of his emotional life, in order to find in this way peace and security which he can not find in the narrow whirlpool of personal experience.  Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are even incapable of forming such opinions.

We shall require a substantially new manner of thinking if mankind is to survive.

A critical landmark in the sage of global climate change is occurring right in front of our eyes. If you are a non believer try Googling the Carteret Islanders of Papua New Guinea. They have become the world’s first entire community to be displaced by climate change.

Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world so why not use it.

Not one statesman in a position of responsibility has dared to pursue the only course that holds out any promise of peace, the course of sharing wealth since for a statesman to follow such a course would be tantamount to political suicide. This is why we must cap greed. ( See previous blogs)

Only a life lived for others is a life worth while .

A human being is part of the whole, called by us ‘Universe,’ a part limited
in time and space.

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Do you or would you believe Him?

20 Friday Jun 2014

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Some months ago I posted a blog under the Title.

” Has Tony got what it takes to be talking about Poverty ” (01/02/2014)

Well in case you missed it don’t worry. Mr Tony Blair never really went away.

He is back with a vengeance.  The peace envoy that advocated War at the drop of a hat and then genuflect for forgiveness for becoming a recruiting officer for AL-Qaeda.

Now he wants his buddies in the USA to Bomb the very group he has help to establish ISIS who are according to him are marching across Europe to invade England..

Is he Mad or Bad?

How does he sleeps at night without screaming is beyond me.

Hundreds of thousands of Iraqi deaths, millions of refugees, not mention the billions, the torture, the resulting grieving widows and orphan children and spreading of the conflict. All over a lie that is now plunging Iraqi into a sectarian civil war.

I stopped breathless when he is put forward as the President of the European Commission. Hired hypocrisy.

He is a deluded war criminal that was arrested by a waiter who does not want forgiveness.   He will never get it with out enlightenment to humble himself before self destruction swings dizzily across his mental vision.

In the mean time he continues to sign books and charge enormous fee for talks and recently in case you also miss it he has become an adviser for the Government of Vietnam.

God bless the man.

 

 

 

ONE OF OUR CONCERN SHOULD BE ABOUT. SOVEREIGN WEALTH FUNDS

18 Wednesday Jun 2014

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Yes its back to one of my favorite hobbyhorse the future curse of Privatization upon the Worlds natural resources and ever thing else, it seems by Sovereign Wealth Funds. (SWFs)

Should you be concerned about their activities?

Sovereign wealth funds (SWFs) have been quietly accumulating, investing and spending excess reserves since the first SWF, the Kuwait Investment Authority, was established in 1953.

While none of these funds disclose the extent of their assets, they are widely perceived as ranking among the world’s richest institutional investors, not to mention the most secretive.

According to estimates from the Sovereign Wealth Fund Institute, Saudi Arabia’s SAMA Foreign Holdings’ assets total $675.9bn, Abu Dhabi Investment Authority’s (ADIA) $627bn, Kuwait Investment Authority’s (KIA) $386bn and Qatar Investment Authority’s (QIA) $170bn.

Yes we should all be concerned.

The emerging map of the twenty-first century is that global capitalism favors the holders of financial assets over domestic institutions.

What is called the Microeconomics circumstances of the Western Countries is not helping.  It is causing foreign governments to expand their SWFs.

Sovereign Wealth Funds are replacing the International Monetary Fund (IMF) as the lender of the last resort.

Recently in the financial crises they bailed out many a countries Banks.

Markets are supposed to be self-regulating. Their efficiency is built on a carefully designed institutional infrastructures which is being eroded or undercut by the financial clot of SWFs  (East Asia, China SWFs)

It is time to call their very purpose into question.

Why? Because they are managed by money people how are in the business of short-term investment, driven by speculative activities.

(When a quick kill for profit is at the forefront of investment, long-term values become blurred.)

They will if not caped become an ever increasing de-stabilizing factor in the global financial Systems.

They are nothing other than fully operational investment vehicles that are not contributing anything to solving any of the World Problems, such as climate change, poverty, inequality, wealth distribution, pollution, water deprivation.

Should they be allowed to invest willy-niley around the world without totally transparent? No. Poor countries natural resources are at their mercy.

Although SWFs must be cognizant of possible retaliatory actions, such as asset freezes and/or asset confiscations, that can be taken against their investments for things such as political disagreements or court rulings that hold SWFs responsible for the actions of their host country’s citizens. They have a narrow mission, to acquire Assets to generate funds for the countries with SWFs.

“We need to have a lot more control over what they do and how they do it.”

A whole lot of questions are ignored these days when it come to making Profit. Our concern should be about who is behaving in ways that have adverse effects on our societies.

If you don’t believe me why not ask Mr Cameron who recently had a chat with the Chines president Mr Xi Jinping. I am sure what ever business he managed to squeeze out of him in exchange for an Audience with the Queen will be financed by China Sovereign Funds. High speed rail to Peking.

A New Form of Capitalism that is shifting the balance of power globally.