Tag Archives: Extreme poverty

THE DOMINANT CAPITALIST SYSTEM – GREED MUST BE CAPPED.

05 Thursday Jun 2014

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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)

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Is inequality an inevitable product of capitalist activity?

01 Sunday Jun 2014

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There is no answer other than YES.

Inequality is an inevitable product of capitalist activity, and expanding equality of opportunity only increases it — because some individuals and communities are simply better able than others to exploit the opportunities for development and advancement that capitalism affords. The advent of capitalism gave individuals more control over and responsibility for their own lives than ever before — which proved both liberating and terrifying, allowing for both progress and regression.

Despite what many on the right think, however, this is a problem for everybody, not just those who are doing poorly or those who are ideologically committed to egalitarianism — because if left unaddressed, rising inequality and economic insecurity can erode social order and generate a populist backlash against the capitalist system at large.  Recent European elections hint strongly that this is happening.

In recent decades, developments in technology, finance, and international trade have generated new waves and forms of insecurity for leading capitalist economies, making life increasingly unequal and chancier for not only the lower and working classes but much of the middle class as well.

The right has largely ignored the problem, while the left has sought to eliminate it through government action, regardless of the costs.

Neither approach is viable in the long run. Contemporary capitalist polities need to accept that inequality and insecurity will continue to be the inevitable result of market operations and find ways to shield citizens from their consequences — while somehow still preserving the dynamism that produces capitalism’s vast economic and cultural benefits in the first place.

Formal or informal barriers to equality of opportunity, for example, have historically blocked various sectors of the population — such as women, minorities, and the poor — from benefiting fully from all capitalism offers. But over time, in the advanced capitalist world, those barriers have gradually been lowered or removed, so that now opportunity is more equally available than ever before.

The inequality that exists today, therefore, derives less from the unequal availability of opportunity than it does from the unequal ability to exploit opportunity. And that unequal ability, in turn, stems from differences in the inherent human potential that individuals begin with and in the ways that families and communities enable and encourage that human potential to flourish.

Capitalist societies, by contrast, have been oriented toward innovation and dynamism, to the creation of new knowledge, new products, and new modes of production and distribution. All of this has shifted the locus of insecurity from nature to the economy.

Rising inequality, meanwhile, has been compounded by rising insecurity and anxiety for people higher up on the economic ladder. One trend contributing to this problem has been the financialization of the economy, above all in the United States, creating what was characterized as “money manager capitalism”

How are we to rectify the imbalances?

A useful starting point might be the rejection of both the politics of privilege and the politics of resentment and the adoption of a clear-eyed view of what capitalism actually involves, as opposed to the idealization of its worshipers and the demonization of its critics.

We need to distinguish between growth and development: we need a

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large-scale redistribution of the staggering amounts of wealth from the very rich to the rest. Remember the bulk of the world’s population get by (just) on $2 a day, and that in the developed world, inequality is growing.

Earth will be unable to support human life when there is only standing room on the planet. Humans will die out when our sun burns out, or when the universal temperature is a few degrees above absolute zero.

I agree there is a possibility that for a few centuries or millennia, human ingenuity will allow continued material growth, but to hold this as certain or even probable is nothing but blind, irrational faith and hubris.

No matter what happens Wealth will have to find a new way to be distributed worldwide.  Some support a Wealth Tax which is totally farcical. It is Impossible to set up, too porous, too expensive, too open to manipulation politically, and otherwise.  Will never be accepted in the USA or growing Economies. Will be seen as unfair, unjust, damaging, and impossible to collect.

There is only one solution. See my blog ” Just Look what could be achieved if we could re-focus greed” There is no other solution other than capturing the very essence of Capitalism to contribute to the world as a whole so that we protects the values of our existence on a Planet that is increasingly crying for help.

Our  inability to locate the exact instance of an occurrence does not imply it will not occur or has not occurred—-say, the moment when human DNA first appeared, or the cardinality of the continuum. It is time to place a 0.05% AID COMMISSION ON ALL FOREIGN EXCHANGE TRANSACTIONS OVER $20,000.

WE MUST STRIKE A BLOW FORWARD INTO TIME:

15 Tuesday Apr 2014

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I am the first to admit that there are more qualified to comment on Capitalism in the age of Globalization.

But here is what I see.

The age of Globalization and new technologies is profoundly reconfiguring Institutions fundamental to processes of governance and accountability ( for lack of a better words) in our modern States.

If you don’t believe me just look at  Crimea, the Ukraine, Egypt, Syria, Iraq, Iran, Afghanistan, Pakistan, Sudan, Lebanon, Israel, Palestine, Somalia, Algeria,Tunisia, Chad, Burma, and on and on we go all being destabilized.

Why?

Because Economic globalization has transformed the territoriality and sovereignty of the nation-state.

The term Sovereignty, has a long history. From Aristotle to the UN Charter.

Globalization has had a short history as a ruthless corporate-driven extension of commodity production. Solidifying its hold over Institutions, labor, culture, and our very own lives. Now turning into a deadly cycle of terrorism and militarism.

The unbridled capital accumulation of Sovereign Wealth Funds will spread ecological devastation as they recognize no territorial or cultural boundaries.  Devoid of any meaningful social ethics or planning mechanisms they are rapidly becoming the new terror spreading toxic contamination of water, air ,soil, food with global warming with resource depletion, ravaging Nature.

There can no longer be any doubt that their short-term objects of profit for profit sake are in direct conflict with the long-range survival – as human beings – of everyone on Earth.

Representing what I call Corporate colonization they are close if not already totally out of control while the wretched of the earth continue to increase with Poverty turning to Inequality.

I have said in previous blogs that we are incapable of change and that the only way we will affect change is to make greed pay by taxing all Stock Exchange transactions world-wide. We must pay for what we value. The only way to achieve this is for a people’s resolution to reform OUR WORLD ORGANISATION  SUCH AS THE  UNITED NATIONS , THE WORLD BANK, THE IMF ALL NEED REFORM.

  

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Not a day goes by that we don’t hear or read of new technologies of the information age. 

 

 

 

 

 

IF WE WANT IT WE MUST PAY FOR IT.

13 Sunday Apr 2014

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For as long as I can remember I have being hearing FOUR words——

POVERTY
CONSERVATION
EXTINCTION
CORRUPTION

THEY HAVE NOT GONE AWAY, BUT ALL HAVE TAKEN ON EXTRA BAGGAGE AND BECOME ATTACHED TO EACH OTHER.

It is said that poverty is improving with a massive reduction mainly due to economic growth in China and India. $5 to $7 a day. It now being replaced in the middle classes by inequality.

We are told by Climate Change experts that Extinction is getting closer and closer.

Corruption in all its disguises is here to stay.

Conservation: plagued by the above is fighting a losing battle.

But the good news is that there are two new words on the block.

Data.

Privatisation.

The amount of data stored is doubling every eighteen months.

Privatisation. Has little interest in Poverty or Conservation, but has a self-interest in Corruption and Extinction.

So where do we stand?

The title to this blog states the position.

If we who are now connected by all don’t Pay for what we value we have a world not worthy of our technology advances.

We must make a Tree, a Tiger, Air, Water to valuable to be exploited for Profit.

By placing a Tax or World Aid Commission on all Stock Exchange transactions world-wide we can fund the changes needed to pass on a Globe of Beauty.

HEADLINES FROM THE YEAR 2060

10 Monday Mar 2014

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White minorities still trying to have English recognize as World first language .

Baby conceived naturally! Scientists stumped.

Couple petitions court to reinstate heterosexual marriage.

Iran still closed off; physicists estimate it will take at least 10 more years before radioactivity decreases to safe levels.

France pleads for global help after being taken over by Jamaica. No other country comes forward to help the beleaguered nation!

85 – year $80.8 billion study : Diet and exercise is the key to weight loss.

Average weight of Americans drops to 250 lbs.

Spotted owl plague threatens northwestern United States crops and livestock.

Castro finally dies at age 112; Cuban cigars can now be exported legally but president Chelsea Clinton has banned all smoking.

George Z. Bush says he will run for President in 2060.

Global cooling blamed for citrus crop failure for a third consecutive year in Mexifornia and Floruba.

Abortion clinics ow available in every high school in the USA.

Fracking has polluted most of the UK drinking water.

THE UNITED NATIONS WORLD AID FUND ESTABLISHED IN 2018

TOPS TWO BILLION IN FUNDS DISTRIBUTED.

A tax applied at a very low rate—for example, a 0.117 percent tax on stocks and stock-options trading, a 0.002 percent tax for bonds, and a 0.005 percent tax for futures, swaps, and other derivatives trading—would raise an estimated $50 billion a year

06 Thursday Mar 2014

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Right I know that I am not the first bright spark to suggest a financial transaction tax or commission (as I would prefer to call it ) on all stock exchange transactions.

I might however be the first to advocate that such a move be adopted by the United Nations.

By passing a peoples resolution that applies for lack of a better name a World Aid tax/commission on all World Stock Exchanges transactions (a tax applied at a very low rate—for example, a 0.117 percent tax on stocks and stock-options trading, a 0.002 percent tax for bonds, and a 0.005 percent tax for futures, swaps, and other derivatives trading—would raise an estimated $50 billion a year, not to mention Sovereign Wealth Funds acquisitions) would bring in much – needed revenue. 

Just imagine what could be archived.

No more begging for Aid when natural disaster strike.

No more IMF or World Bank debts.

No more empty words to eradicate poverty.

Just look what others are saying!

I HAVE SAID THAT THE ONLY WAY TO ACHIVE SOME EQUALITY IN THIS WORLD IS TO MAKE GREED PAY WITHOUT IT KNOWING.

The only way to achieve this is by social media pressure with a Mobil phone support campaign that galvanizes our voices to be heard.

To put that amount into perspective, $50 billion in essence pays for all of America’s veterans health services, which ran to $50.6 billion in 2012. Historical evidence and economic theory show that financial transaction taxes have the potential to raise substantial revenues without impeding the function of capital markets. By keeping constant the relative transaction costs of trading in different markets, a financial transaction tax can raise revenues without distorting market behavior.

The U.S. government is currently operating at its lowest level of revenues in more than 60 years. A 2010 report from the International Monetary Fund identifies the financial sector of the economy—particularly in the United States—as substantially undertaxed.

Business and civic leaders support a financial transaction tax

The idea of a financial transaction tax isn’t new, but the chorus singing its praises is growing every day—from leading economists such as Nobel Prize winners Joseph Stiglitz and Paul Krugman to entrepreneurs such as Bill Gates and Marc Cuban, to financial leaders the likes of John Bogle, founder of the mutual-fund giant Vanguard Group. The financial transaction tax also has the support of unions for nurses and other health care professionals and service-sector workers.

Those in the financial sector have an obvious stake in any new tax on their business. But even many within the industry are making the case for a financial transaction tax. John Fullerton, former managing director at JPMorgan and current president at the Capital Institute, has said, “A modest financial transaction tax of less than 1 percent would serve as a remarkably efficient tool to achieve needed reform.” Bogle wrote about a transaction tax in his book, Clash of the Cultures: “Taxes can be brought back into play, replacing some of the frictional costs of investing that served to moderate the speculation that prevailed in an earlier era.”

Countless other financial professionals will concede, in the anonymity of polite company, that a modest and well-crafted tax on financial transactions would have negligible impact on the dynamism of capital markets, and might even help eliminate some of the more unsavory financial practices that stack the deck in favor of big investors and encourage unhealthy risk taking that can put the whole economy, as well as taxpayers, on the hook for the costs.

A financial transaction tax helps stabilize volatile financial markets

An astounding share of transactions on financial markets today consists of high-frequency trades made on the millisecond by computers programmed with sophisticated algorithms. The computers make large-volume trades based on tiny changes in prices—fractions of a penny—and, in so doing, reap tremendous trading profits. While economic theory might suggest that this would lead to slightly more efficient financial markets, the Bank of England’s Andrew Haldane has shown that “high-frequency trading appears to have amplified” the markets’ erratic undulations.

High-frequency trading is sometimes associated with the phenomenon of “flash crashes,” where market prices fall precipitously due to a perfect storm of preprogrammed computer trading. The largest flash crash to date came on May 6, 2010, when the Dow Jones Industrial Average dropped by almost 10 percent from the opening level, and literally billions of dollars in market value disappeared from the stock market in a matter of minutes. Prices rebounded over the next week, though investors were rattled and withdrew $137 billion from the market in the subsequent months. Since then, there have been many more mini flash crashes with no sign of abatement.

Flash crashes are just one example of how financial market power and high-frequency trading combine to create unfair and destabilizing effects in financial markets. Even a conservative financial transaction tax would make these types of trades unprofitable by levying a fee for every transaction, thus eliminating this risky behavior from our markets.

A financial transaction tax incentivizes investment for real growth

The financial transaction tax by design increases transaction costs of financial trading, thereby encouraging investors to hold financial assets in their investment portfolios for longer periods of time instead of trading often. Investors who expect to hold stocks longer tend to pay more attention to the enterprise and fundamental value of the stock rather than aiming to leverage capital and computational power to exploit market loopholes for big short-term profits. A longer-term outlook for investors and more stable financial markets mean more investment, more jobs, and higher productivity in the real economy—all of which drives growth.

By changing the incentives that investors face in U.S. financial markets, a tax on financial trading will shift behavior toward investment for the long term, which is better for financing businesses and for stable sustained economic growth.

Many countries already have a financial transaction tax

The standard stalling tactic for bringing a financial transaction tax to the United States is saying that we should wait until other countries do it first. But financial transaction taxes already operate in at least 23 countries around the world—including in international financial centers such as the United Kingdom, Switzerland, Hong Kong, and Japan—and that number is about to grow.

On January 22, 2013, 11 of the European Union’s 27 member countries, including France, Germany, and Italy, indicated their intention to initiate a financial transaction tax. As the policy nears implementation, other EU countries are certain to get on board. Of the world’s major financial centers, only the United States has no tax on financial trading.[1]

As more European countries implement such a tax, the United States could easily jump on board and do the same, becoming part of a global financial transaction tax system. Globalizing the tax not only would greatly reinforce its effectiveness and benefits, but would also avoid concerns about market migration and efforts to evade regulation in financial havens. Now would be a smart time for politicians in Congress to also rethink the benefits that a tax on financial transactions could bring to our economy.

Adam S. Hersh is an Economist at the Center for American Progress. Jennifer Erickson is the Director of Competitiveness and Economic Growth at the Center.

OK, LET’S ASK SOME QUESTIONS ABOUT SOVEREIGN WEALTH FUNDS.

04 Tuesday Mar 2014

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Many rich countries in the last decade have established SWFs.

Rather than using revenues for day-to day government expenditure governments have put billions of revenue from selling resources such as oil, gas into SWFs which are supposed to supplement impending Pension Crisis.

Their overall worth now stands in the Trillions of $.  Estimated to be over 6 trillion $ end of 2013.

The questions are;

1) Should there be enforceable rules for (SWF

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) to make them more transparent?

2) Are they being used for strategic purposes rather than commercial ones?

3) Should they be barred from investing in ecologically damaging or dubious industries overseas?

4) Are they influencing national security and political independence?

5) How is the Money ( trillions) be eventually distributed – to whom?

6) Why are they not mentioned by the Economic gurus of the world?

7) What are their long-term objectives?

8) Can they be trusted?

9)  Is all the Money clean?

10) ARE WE BEING HOOD WINKED INTO A WORLD WHERE EVERY THING WILL BE PRIVATELY OWNED.

The answer is to date most SWFs rather than ameliorating inequalities or subsidizing the consumption of the poor are intended to finance unspecified prestige projects for ruling families.

Largest sovereign wealth funds.

Country Abbreviation Fund Assets US$Billion[8] Inception Origin
Norway Norway GPF Government Pension Fund – Global 838 1990 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi		 ADIA Abu Dhabi Investment Authority 773 1976 Oil
Saudi Arabia Saudi Arabia SAMA SAMA Foreign Holdings 675.9 n/a Oil
China China CIC China Investment Corporation 575.2 2007 Non-commodity
China China SAFE SAFE Investment Company 567.9** 1997 Non-commodity
Kuwait Kuwait KIA Kuwait Investment Authority 410 1953 Oil
Hong Kong Hong Kong HKMA Hong Kong Monetary Authority Investment Portfolio 326.7 1993 Non-commodity
Singapore Singapore GIC Government of Singapore Investment Corporation 285 1981 Non-commodity
Singapore Singapore TH Temasek Holdings 173.3 1974 Non-commodity
Qatar Qatar QIA Qatar Investment Authority 170 2003 Oil
China China NSSF National Social Security Fund 160.6 2000 Non-commodity
Australia Australia AFF Future Fund 88.7 2004 Non-commodity
Russia Russia RNWF National Welfare Fund 88 2008 Oil
Russia Russia RRF Russian Reserve Fund 86.4 2008 Oil
Kazakhstan Kazakhstan S-K JSC Samruk-Kazyna JSC 77.5 2008 Non-commodity
Algeria Algeria RRF Revenue Regulation Fund 77.2 2000 Oil
South Korea South Korea KIC Korea Investment Corporation 72 2005 Non-commodity
United Arab Emirates United Arab Emirates
Dubai Dubai		 ICD Investment Corporation of Dubai 70 2006 Oil
Kazakhstan Kazakhstan KNF Kazakhstan National Fund 68.9 2000 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi		 IPIC International Petroleum Investment Company 65.3 1984 Oil
Libya Libya LIA Libyan Investment Authority 60 2006 Oil
Iran Iran NDF National Development Fund 58.6 1999 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi		 MDC Mubadala Development Company 55.5 2002 Oil
United States United States of America
Alaska Alaska		 APF Alaska Permanent Fund[9] 49.5 1976 Oil
Malaysia Malaysia KN Khazanah Nasional 40.5 1993 Non-commodity
Brunei Brunei BIA Brunei Investment Agency 40 1983 Oil
Azerbaijan Azerbaijan SOFAZ State Oil Fund of the Republic of Azerbaijan 34.1 1999 Oil
United States United States of America
Texas Texas		 PSF Permanent School Fund 30.3[10][11] 1854 Public Lands
France France SIF Strategic Investment Fund 25.5 2008 Non-commodity
Kazakhstan Kazakhstan NIC National Investment Corporation 20 2012 Oil
Republic of Ireland Ireland NPRF National Pensions Reserve Fund 19.4 2001 Non-commodity
New Zealand New Zealand NZSF New Zealand Superannuation Fund 19.3 2003 Non-commodity
Iraq Iraq DFI Development Fund for Iraq 18 2003 Oil
United States United States of America
New Mexico New Mexico		 NMSIOT New Mexico State Investment Office Trust 17.3 1958 Non-commodity
Canada Canada
Alberta Alberta		 AHSTF Alberta’s Heritage Savings Trust Fund[12] 16.4 1976 Oil
United States United States of America
Texas Texas		 PUF Permanent University Fund 15.3[13] 1876 Public Lands
Chile Chile SESF Social and Economic Stabilization Fund 15.2 2007 Copper
East Timor Timor Leste TLPF Timor-Leste Petroleum Fund 14.6 2005 Oil & Gas
Russia Russia RDIF Russian Direct Investment Fund 13 2011 Non-commodity
United Arab Emirates United Arab Emirates
(Federal)		 EIA Emirates Investment Authority 10 2007 Oil
Oman Oman SGRF State General Reserve Fund 8.2 1980 Oil & Gas
Bahrain Bahrain MHC Mumtalakat Holding Company 7.1 2006 Oil
Peru Peru FSF Fiscal Stabilization Fund 7.1 1999 Non-commodity
Chile Chile PRF Pension Reserve Fund 7 2006 Copper
Botswana Botswana PF Pula Fund 6.9 1996 Diamonds & Minerals
Mexico Mexico ORSFM Oil Revenues Stabilization Fund of Mexico 6 2000 Oil
Oman Oman OIF Oman Investment Fund 6 2006 Oil
Italy Italy ISF Italian Strategic Fund 6 2011 Non-commodity
United States United States of America
Wyoming Wyoming		 PWMTF Permanent Wyoming Mineral Trust Fund 5.6 1974 Minerals
Brazil Brazil SFB Sovereign Fund of Brazil 5.3 2008 Non-commodity
Saudi Arabia Saudi Arabia PIF Public Investment Fund 5.3 2008 Oil
China China CADF China-Africa Development Fund 5 2007 Non-commodity
Angola Angola FSDEA Fundo Soberano de Angola 5 2012 Oil
Trinidad and Tobago Trinidad & Tobago HSF Heritage and Stabilization Fund 5 2000 Oil
United States United States of America
Alabama Alabama		 ATF Alabama Trust Fund 2.5 1985 Oil & Gas
Nigeria Nigeria NSIA Nigeria Sovereign Investment Authority 1.5 2011 Oil
United States United States of America
North Dakota North Dakota		 NDLF North Dakota Legacy Fund 1.4 2011 Oil & Gas
Panama Panama FAP Fondo de Ahorro de Panama 1.2 2012 Non-commodity
United Arab Emirates United Arab Emirates
Ras al-Khaimah Ra’s al Khaymah		 RIA RAKIA 1.2 2005 Credits obtained via RAK Government
United States United States of America
Louisiana Louisiana		 LEQTF Louisiana Education Quality Trust Fund 1.1 1986 Oil & Gas
Palestinian territories Palestine PIF Palestine Investment Fund 0.8 2003 Non-commodity
Venezuela Venezuela FEM FEM – Macroeconomic Stabilization Fund 0.8 1998 Oil
Kiribati Kiribati RERF Revenue Equalization Reserve Fund 0.6 1956 Phosphates
Vietnam Vietnam SCIC State Capital Investment Corporation 0.5 2006 Non-commodity
Gabon Gabon GSWF Sovereign Fund of the Gabonese Republic 0.4 1998 Oil
Indonesia Indonesia GIU Government Investment Unit of Indonesia
(Pusat Investasi Pemerintah (PIP))		 0.3 2006 Non-commodity
Mauritania Mauritania NFHR National Fund for Hydrocarbon Reserves 0.3 2006 Oil & Gas
Australia Australia WAFF Western Australian Future Fund 0.3 2012 Minerals
Mongolia Mongolia FSF Fiscal Stability Fund 0.3 2011 Mining
Equatorial Guinea Equatorial Guinea FFG Fund for Future Generations 0.08 2002 Oil
Ghana Ghana GPF Ghana Petroleum Funds 0.07 2011 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi		 ADIC Abu Dhabi Investment Council X 2007 Oil
Papua New Guinea Papua New Guinea PNGSWF Papua New Guinea Sovereign Wealth Fund X 2011 Gas
Turkmenistan Turkmenistan TSF Turkmenistan Stabilization Fund X 2008 Oil & Gas
Largest Sovereign Funds (SWFs) – 2012 Ranking
A Sovereign Wealth Fund is a state-owned investment fund comprising financial assets such as stocks, bonds, real estate or other instruments and funded by foreign exchange assets. In the latest 2012 ranking, the Abu Dhabi Investment Authority tops the list at US$627 billion, followed by Norway’s Government Pension Fund–Global (US$611 billion) and China’s SAFE Investment Company (US$568 billion). Many of the world’s largest SWFs are financed via oil revenue, such as in the case of the Abu Dhabi Investment Authority and Norway’s Government Pension Fund–Global.

Ten Largest SWFs in 2012 (in US$ Millions)

F-01-Money-chartv4
Sovereign wealth funds (SWFs) are managed separately from official currency reserves. They are pools of money governments use to generate profits. Often this money is invested in foreign companies. Their assets can include balance-of-payments surpluses, official foreign currency operations, proceeds of privatizations, fiscal surpluses and/or receipts resulting from commodity exports.

They can be structured as a fund, pool or corporation. They do not include foreign currency reserve assets held by monetary authorities for the traditional balance-of-payments or monetary policy purposes, state-owned enterprises (SOEs) in the traditional sense, government-employee pension funds or assets managed for the benefit of individuals.

 

Data is from the Sovereign Wealth Fund Institute, 2012 Sovereign Wealth Fund Allocation Report.

Read more: http://www.gfmag.com/tools/global-database/economic-data/12146-largest-sovereign-wealth-funds.html#ixzz2v0ny419u
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POVERTY CONTINUING EXISTENCE IS GUARANTEED FOR ETERNITY

26 Wednesday Feb 2014

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Our very own human failings; Greed- Envy – Lust ensure that poverty will never be eradicated to the end of time.

I don’t know about you but every time I see a fellow human begging, sleeping in the street or a TV appeal for funds that uses an image of a skeleton child my own life happiness is marred.

You will see from previous blog that Privatization of everything is happening right in front of our eyes.

Wealth inequality in the world is well on the way. Our present day technology will probably lead to an unattainable disparity between the have and the have-nots.

If we don’t wake up to this fact Google will be charging for knowledge, we will be paying for fresh air and water, and our vote will be completely worthless.

You might say there is no foreseeable way of stopping the direction we are going in. This seems to be the view held by most countries, world organisation, promoting growth at all costs in our economies in the disillusioned hope that it will drag us all to happier days.

It is my view or I should say my firm belief that it is the first responsibility of a Nation to protect it most vulnerable citizens. THE WEALTH OF A NATION IS MEASURED BY ITS COMPASSION NOT THE GROWTH OF ITS GDP.

There is no place in this world for abject poverty, or exploration for the sake of Profit.

As I have said there will always be some form of Poverty no matter how much money we donate.  so once again I put it to you that only a self sustainable approach will have any hope of closing the gap.

The question is how do you create a system within a monopoly called Capitalism or for that matter within any political ethos.

Impossible:  Because all are run by human beings.

Even if we were to invent AI Robots and run all decisions making through a computer armed with all world history in every field of human endeavor, they or it would be contaminated by our human failings.

So the only solution is to use these failings . Greed – Envy – Lust – by tapping into what lies at their heart  Profit for Profit sake.

It’s not possible to cap Profit, but it is possible to apply a commission of 0.001%

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ON ALL STOCK EXCHANGES TRANSACTIONS IN THE WORLD creating a self sustainable system with sufficient funding to eradicate abject poverty and bridge the ever-increasing inequality that is replacing the very definition of poverty.

Nothing that suffers can pass without merit in the sight of what ever God you choose.

Stock Exchanges – Sorted By Domestic Market Capitalization (USD millions)

ExchangeName Region 2011  Market Size $million 2012
NYSE Euronext (US) Americas 11795575 $14,085,944
NASDAQ OMX Americas 3845132 $4,582,389
Japan Exchange Group – Tokyo Asia Pacific 3325388 $3,478,832
London SE Group EAME 3266418 $3,396,505
NYSE Euronext (Europe) EAME 2446767 $2,832,189
Hong Kong Exchanges Asia Pacific 2258035 $2,831,946
Shanghai SE Asia Pacific 2357423 $2,547,204
TMX Group Americas 1912122 $2,058,839
Deutsche Börse EAME 1184500 $1,486,315
Australian SE Asia Pacific 1198187 $1,386,874
BSE India Asia Pacific 1007183 $1,263,336
National Stock Exchange India Asia Pacific 985269.4 $1,234,492
SIX Swiss Exchange EAME 1089519 $1,233,439
BM&FBOVESPA Americas 1228936 $1,227,447
Korea Exchange Asia Pacific 996139.9 $1,179,419
Shenzhen SE Asia Pacific 1054685 $1,150,172
NASDAQ OMX Nordic Exchange EAME 842100.9 $995,719
BME Spanish Exchanges EAME 1030988 $995,088
Johannesburg SE EAME 789037.1 $907,723
Singapore Exchange Asia Pacific 598272.7 $765,078
Taiwan SE Corp. Asia Pacific 635505.8 $735,293
Mexican Exchange Americas 408689.8 $525,057

Data: World Federation of Exchanges 2013

HAS TONY GOT WHAT IT TAKES TO BE TALKING ABOUT POVERTY

18 Tuesday Feb 2014

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I’m sure you will notice beside this blog ( posted on flipboard ) is a video featuring Tony Blair partaking in a BBC discussion on Poverty.

Now I am not saying that he is or not qualified to air his views or that the BBC should choose its experts more carefully.

However one should be aware that Tony is WHAT I WOULD CALL AMORAL.

A multi millionaire commanding £6000 a minute on the International Lecture circuit. BANKING –  a staggering £15 million last year  + £5 million in a book deal, plus an additional £2.5 million from JP Morgan Chase along with Swiss financial Services.

( See Mail online – wwwdailymail.co.uk/news/article-1167682)

The Middle East Peace Envoy who hops nobs it on David Geffen yacht Rising Sun (cost $250 million)

In my view its somewhat RICH that a man who went to war on a lie (even if that lie was sold to him by his pal Mr Bush) HAS A BOUNTY ON HIS HEAD, CONVERTED TO A CATHOLIC TO FIND FORGIVENESS CAN BELIEVE WITH ANY DEEP CONVICTION ( AS HE SAIDS IN THE VIDEO) THAT GOOD GOVERNANCE IS THE SECRET TO RELIVING POVERTY.

We are awash in the Unseen

07 Tuesday Jan 2014

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Humanity’s only home planet is under attack with the shadows of forgotten Ancestors disappearing into Cyber Space.

Never forget the World is yours. ( Terms and conditions apply)

Nothing speaks more vividly than the relents march of world poverty.

We modern humans have being of Earth less of Earth 0’0001% of Earth history.

It’s an unnerving thought that we may be the living Universe’s supreme achievement and its worst night-mare simultaneously.

It’s time to get off the substitutes bench.

World Poverty is now used as a product to fund an ever-increasing industry that is serving its very existence.

There is no solution without funds, and the greatest source of funds is Greed, Profit for Profit sake.

The World Bank has tried and failed to date.
The IMF has tried and failed?
Fair Trade has tried and failed.
Grandiose United Nation Charters have tried and failed.

The mantra of our world leaders is that ” The Economy must continue to grow” while 21 Children die from preventable causes each minute. Fifteen million a year Ref: library.thinkquest.org

There are no valid reasons that we should tolerate or accept one death so that our Economies can grow.

There are no poor with Investment Portfolios, but there are however many Portfolios with poor. There is only one solution Greed must be made work to eradicate poverty – see previous postings,and Silent Witness to world poverty on Flipboard.