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~ Free Thinker.

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Tag Archives: Privatization of the World.

THE BEADY EYE ASK’S: WHERE IS ALL THE ONLINE INTERNET AND GENERAL SURVEILLANCE GOING TO END UP.

13 Monday Aug 2018

Posted by bobdillon33@gmail.com in Big Data., Communication., Evolution, Fourth Industrial Revolution., Humanity., Life., Modern Day Communication., Our Common Values., Privatization, Social Media, Technology, The common good., The essence of our humanity., The Internet., The Obvious., The world to day., Unanswered Questions., What Needs to change in the World, Where's the Global Outrage.

≈ Comments Off on THE BEADY EYE ASK’S: WHERE IS ALL THE ONLINE INTERNET AND GENERAL SURVEILLANCE GOING TO END UP.

Tags

Algorithms trade., Artificial Intelligence., Big Data, ongoing Privatization of the world, Privatization of the World., Social Media, The Future of Mankind, Visions of the future.

 

( A two-minute read)

Online privacy and surveillance are one of the defining issues of our age.

Résultat de recherche d'images pour "pictures of people on mobile phones"

Or is it?

When one looks at deforestation, glacier recession, ocean acidification, plastic suffocation, climate change, Putin, Trump, not to mention the current wars, Brexit, and whether China will rule the world perhaps it is only a drop in the ocean of problems we have.

In the proverbial fog of technology, most of us it seems could not care less.

Who cares if some agency is reading our emails, on the other hand, we would be pretty naive to think that intelligence agencies would not jump at the chance to read the world’s emails.

Countries have and will always spy on each other.

You would also be blinkered to think those big multinationals don’t do the same thing.

Given the choice of making money and doing the right thing, listed companies are bound to make money.

IT IS NOT POSSIBLE TO PROJECT OUR LIBERAL WISH LIST ON ANY OF THESE TITANS OF CAPITALISM.

WE ARE THE PRODUCT BEING SOLD.

The fact is that we can do virtually nothing about any of this, except live off -grid which will probably make your data more valuable.

WHERE DOES THIS LEAVE THE EU GENERAL DATA PROTECTION REGULATIONS?

IF YOU ASK ME THEY WILL NOT MADE A FIDDLERS DIFFERENCE TO ANY OF US.

DATA IS BEING COLLECTED WILLY NILLY INSIDE THE EU AND OUTSIDE.

How can anyone complain or sue about violations of the new rules when they are totally incomprehensible to the ordinary punter.

SINCE THEIR ARRIVAL WE NOW HAVE CORPORATIONS ON THE WEB ASKING US TO READ VOLUMES OF AMENDED PRIVACY POLICY.

BUT HAS IT CHANGED ANYTHING.

NO.  OUR BASIC DATA IS MORE VALUABLE THAN OUR PRIVATE LIVES.

Maybe we should stop blindly trusting algorithms that are exploiting us.

The conversations we’re now having will form the foundations of the future and the owners of this data will have the knowledge makes us all short on knowledge, and rest assured that knowledge is not the same as information.

All human comments appreciated. All like clicks chucked in the bin.

 

 

 

 

 

 

 

 

 

 

 

 

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THE BEADY EYE SAYS: COMPUTER ALGORITHMS THAT ARE FILTERING CONTENT ARE STARTING TO ISOLATE US FROM ONE ANOTHER. 

30 Sunday Apr 2017

Posted by bobdillon33@gmail.com in Artificial Intelligence., Big Data., Facebook, Google Knowledge., Humanity., Privatization, Social Media., Technology, The Future, The Internet., The Obvious., The world to day., Twitter, Unanswered Questions., What Needs to change in the World, Where's the Global Outrage.

≈ Comments Off on THE BEADY EYE SAYS: COMPUTER ALGORITHMS THAT ARE FILTERING CONTENT ARE STARTING TO ISOLATE US FROM ONE ANOTHER. 

Tags

Artificial Intelligence., Big Data, ongoing Privatization of the world, Privatization, Privatization of the World., SMART PHONE WORLD, Technology, The Future of Mankind

 

( A five-minute read)

We all know or at least we should all be aware that our world is becoming less and less transparent thanks to what we call Artificial Intelligence.

Résultat de recherche d'images pour "pictures of cloud computing"

The challenge there is:

The false promise of the Internet was that it can connect people from different backgrounds, with different beliefs and across disparate locations.

The trend toward personalization by AI is impeding the fulfillment of that promise?

What is becoming more and more apparent is that while most personalization on the web is algorithmically driven, aren’t we implicitly, informing the algorithms based on the choices we’ve previously made interacting with content?

Couldn’t you then, in theory, manipulate the filter so you see what you want to see or are there too many factors beyond our control?

Consider:

Even if you’re completely logged out of Google, on a new computer, the company can track 57 signals about you — from what kind of laptop you’re using to what your IP address is to what the font size in your browser is. Already, that gives a lot of important clues about age, income and demographics.

It’s ironic — the promise of personalization is that it gives us our own personal view of the world.

But the challenge is that a lot of the time, it’s actually pushing us toward a stereotyped, simplified version of ourselves: “This person is male, so we’ll show him more gadget and car news.”

So let me ask you.

Many of the major social, discovery and media sites on the Internet now implement some type of personalization. Do you feel these sites have a responsibility to educate consumers about how their information is being filtered? Do you think users should be able to opt out of personalization?

I would say Yes, on both counts.

In an increasingly complex and vast media landscape it is crucial that me maintain our private lives.

Why?

Because: Algorithms of all shapes and sizes are monitoring, analyzing, making
decisions, dictating our credit scores etc.  They are shaping our lives and economies, our future, so shouldn’t we know what code and mathematical equations, or deep learning go into making them work.
However Transparency alone won’t help.
Algorithms are complicated so exposing the code behind them won’t make them more understandable. Knowing how an algorithm is coded is useless without knowing the data that has being fed into it in the first place.

There is only one solution and that is the:

The Creation of a New World Organisation that is totally transparent, and self financing:  To vet all Technology. To ensure that they comply with the core world gold standard of human values.
(See previous Posts)
Let me ask you two further questions.
Can some level of personalization be useful?
What are we missing that we need to see?
Some amount of algorithmic personalization is necessary — there’s just too much stuff to sort through for humans to do it all. However you don’t know who Google thinks you are or on what basis it’s editing your results, and therefore you don’t know what you’re missing.

A lot of the personalization that exists today just serves up information junk food, but a growing portion is being curated by robots — computer algorithms that are filtering content and deciding what we get to see.

It may be delicious, but it doesn’t feed the soul.

Now it’s possible to live in a bubble where that stuff doesn’t ever show up — you’d never know it’s happening.

Take the Facebook “Like” button — the main way that information gets spread on Facebook. “Like” isn’t a neutral word — it’s easy to Like “I just finished a marathon,” and hard to Like “cell phones may cause cancer.”

So some kinds of information get through, and others don’t, and when that’s happening in the Facebook News Feed, where an increasing number of folks get their news, it’s a real problem.

Most people aren’t aware that their Google search results, Yahoo News links, or Facebook feed is being tailored in this way.

Filters can provide relevance and combat information overload, but with so much riding on automated decisions to ensure algorithms deal with humans fairly is now more relevant than ever.

I recently read that in five-year your smartphone could be reading your mind.

Brain- computer interface.

Personalization couldn’t exist without the massive dossiers of personal data being collected by big companies online these days. And it’s a problem because consumers don’t have much control over that.

The current laws around personal data just don’t contemplate a world in which a click on one website changes what you see on an entirely different one.

Almost all popular websites, from search engines to social networks to media outlets, are now utilizing filters in some way to personalize content for visitors.

When websites show us only what we like, we get cut off from the diverse points of view that can enrich our understanding of the world.

We get Donald Trumps.

Privacy is about controlling what the world is allowed to know about you. This is about controlling what you’re able to see of the world — what your filters let through and what they don’t.

Its time to wake up.

We can lose sight of our common problems, but they don’t lose sight of us.

It’s only a matter of time before our Fidelity/ Loyalty cards are linked up to our personal data held by banks, e-commerce sites and social media. If not already.

We will then be looking at citizen character score, which will bring credit scores to a whole new level, turning them more into to life scores, by tracking anything and everything we do. The scary bit is what is tracked and by who.  

I hear you saying that this will never be accepted.

It is already on the cards for people living in China and Singapore. Humans and robot algorithms, living in peaceful harmony. Where you go, what you buy, who you know, how many points are on your driving licence, how your friends rate you.

The scores will serve not just to indicate an individual’s credit risk, but could be used in a vast array of applications and organisations such as Governments, Benefits, Hospital Operations, Visa, Education, down to all fields that makes Society including prison sentences, landlords, employers, and even romantic partners to gauge an individual’s character.

Résultat de recherche d'images pour "pictures of cloud computing"

All stored in the Cloud. Which comes in many different models forms.

Ubiquitous access to the network: Self-service and on-demand access to computing capabilities. This service will most often be performed by the service provider automatically without the need for human interaction.

Cloud Computers is not the easiest of terms to define, or explain what it all actually means. Owned by Google, Twitter, Gmail and Facebook the Cloud is elusive as grabbing a cloud itself.

Perhaps we can blame it all on Leonhard Euler one of the most prolific mathematicians in history, and also a prolific inventor of canonical notation.

( An Euler path is a path that uses every edge of a graph exactly once.)

One way or the other to use a Trumpetism:  It’s ain’t going to be great unless we build algorithms that have a sense of civic purpose embedded in them, giving us both entertainment and the information we really need, not profit.

All comments appreciated. All like clicks chucked in the bin.

O sorry about the line spacing in this post just cannot figure out how to correct it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Water used to be free.

20 Monday Apr 2015

Posted by bobdillon33@gmail.com in Environment, Privatization, Sustaniability

≈ Comments Off on Water used to be free.

Tags

Capitalism and Greed, Earth, environmental degradation, Privatization of the World., THE UNITED NATIONS

In fact, it still is — at least in nations blessed with plentiful clean tap water but that doesn’t stop the world from spending over $100 billion on bottled water a year.

I have posted on the subject of Fresh water as recently as the 31st of March this year. ( Fresh Water, Essential for human survival or a commodity for profit)

We all know that our Earth has and will continue to face many problems, some caused by nature itself and others caused by us its most intelligent inhabitants.

The problems caused by us are mostly related to excess of self-indulgence to the detriment of what effect it has on everything around us.

We seem incapable of acting for the common good, and when we try to do so our attempts are retrograded to profit. ( For example; Carbon Credits, Fishing Quotas, Arms Trade, Governments, Religions, you name it and its governed by money.)

We ourselves are now becoming commodity to be exploited and it will not be long before we will have no rights to clean Air never mind water.

Water is more than a chemical substance containing one oxygen and two hydrogen atoms it has become a reason for conflicts and a controversial commodity, and yet, it is inevitable for every human being and animal on the planet.

The global inequalities in access to clean water is only going to increase due to its Privatization. It is literally being turned into a commodity to produce profit.

So what do we see when it comes to Fresh Water.

It is purified and then sold to us at thousandfold increase in price:

As still water, carbonated water, functional water, and flavored water, as absolute water” and “harmony water” as mineral water, pure water, the ecological water, soda water, alkaline water, coconut water, deep-sea water, mint water, tonic water, sparkling waters, naturally sparkling, still waters,natural water, distilled water, wild water, absolute water, preserved water, controlled water,  etc;

The category of “wild water” includes products like Pepsi-owned Enchant’s marketed so as to convey through its label,  strength, vitality, and human’s fusion with nature.

Absolute water is in a league of its own, and uses neither nature-themed nor industry-themed signs. The designs of the bottles are revolutionary and futuristic. Their beyond-nature and beyond-human appearance suggest that this water is extremely pure and transcendent.

Then we have preserved water, marketed as nature to contemplate, a source of peace and quietness, a preserved nature, untouched.

And last but not least controlled waters which are totally safe and clean called still water. It sales makes up 64.9% of the overall market.

Oops I nearly forgot tamed water. It is adapted for consumer benefit. Nestlé’s Pure Life, for instance, uses more dynamic shapes and human figures to demonstrate its tamed water’s message of happiness, liveliness, and cooperation.

In terms of revenue, Asia-Pacific dominated the global market in 2013, accounting for a market share of 33%. Europe surfaced as the second largest contributor in the global market for bottled water, accounting for a market share of 28.8%.

The bottled water world industry is a market dominated by European water brands.

Shifting patterns of consumer preference in favor of flavored and vitamin-rich functional water and innovation in terms of portability and packaging of hygienic water has propelled the demand for bottled water in the global market to highs where the producers are buying up resources at an alarming rate.

You might be surprised to learn that 25% of bottled water comes from municipal supply.

While the world’s population continues to grow at an alarming rate, water is becoming an increasingly scarce commodity. 80% of the world’s population are exposed to some risk of insecure freshwater resources.

The global water market is dominated by major players like Groupe Danone, Coca- Cola Company, Icelandic Water Holdings ehf., Mountain Valley Spring Company, The PepsiCo Inc., Nestle Waters, Hangzhou Wahaha Group Co. Ltd., and LLC.

Nestlé currently controls more than 70 of the world’s bottled water brands, among them Perrier, San Pellegrino and Vittel.

Nestlé’s annual sales of bottled water alone total some CHF 10 billion. And yet the company prefers not to discuss its water business.

To be able to sell and make money from water, you first have to own it.

Every year the company pumps out millions of cubic metres of water, for transportation in road tankers to huge bottling factories.

In the small towns of Fryeburg, Newfield and Shapleigh, journalist Res Gehriger witnessed how Nestlé tries to stifle and suppress local opposition to its operations with an army of powerful PR consultants, lawyers and lobbyists.

The company sells mainly spring water with a designation of origin. In developing countries, however, the corporation pursues another concept – namely Nestlé Pure Life. This product is purified groundwater, enriched with a Nestlé mixture of minerals. Nestlé Pure Life is a clever business concept. And particularly so in the developing world.

In countries such as Pakistan where the public water supply has failed or is close to collapse, the company proudly presents its bottled water as a safe health-enhancing alternative.  But for the overwhelming majority of consumers, it is an expensive out-of-reach alternative.

The scenario of a city in which everyone has to pay for life-giving water, is already a sad reality in Lagos. Families eking out an existence in the slums spend half their meagre budget on canisters of water. The upper class?  They purchase Nestlé Pure Life.

Nestlé is a company intent on amassing resource rights worldwide. With the aim of dominating the global water market of the future.

The global bottled water market was valued at US$157.27 billion in 2013 and is expected to reach US$279.65 billion by the end of 2020, registering an impressive growth at a CAGR of 8.7% from 2013 to 2020.

In terms of volume the market is expected to grow at a CAGR of 8.3% and reach a market size of 465.12 billion liters by 2020. Over half of all Americans 54% drink bottled water. There are over 700 brands. America is now drinking more bottled water than milk or beer.

According to the Beverage Marketing Corporation (BMC), in 2014 the total volume of bottled water consumed in the United States was 11 billion gallons, a 7.4% increase from 2013. That translates into an average of 34 gallons per person.  While that may sound like a lot, it actually puts the U.S. in 10th place when it comes to global per-capita consumption

Bottled water is the second largest commercial beverage category by volume in the United States. However, bottled water consumption is about half that of carbonated soft drinks and only slightly ahead of milk and beer.

60% of the global bottled water market is dominated by the national and regional players.

The commercialization of water, which on a global scale finds its manifestation in the bottled water industry:Cartogram / Map of the Global Bottled Water Consumption (total and per capita)

Global consumption of bottled water goes up 10 percent each year.drinking bottled water

China is now the second largest consumer market for bottled water in the world. China drank roughly eight billion liters in 2000, and just under 21 billion liters in 2009.  It is now drinking around two billion liter less than U.S. 2014.

China Water (1.5 liter bottle) Cost 3.66 ¥ us$ 0.56

France-based Evian is the most popular bottled water brand in the world. Pepsi-owned Aquafina is the best-selling bottled water brand in United States.  Both have mountains on their packages, signifying the pursuit of something greater.

You don’t have to be a genius to see where all this is leading.

Water insecurity is a global phenomenon, and in most of the populated places on earth water resources are under some form of stress that poses a potential risk.

“The biggest enemy is tap water ” said a Pepsi VP in 2000. “When we’re done, tap water will be relegated to irrigation and washing dishes,” said Susan D. Wellington of Quaker Oats, the maker of Gatorade.

But its more than just words: Coca-Cola has been in the business of discouraging restaurants from serving tap water and pushing bottle water for years.

Fear of tap water is part of the reason for the bottled water surge.

A report by Food And Water Watch says that almost half of all bottled water is derived from tap water

The production of water bottles uses 17 million barrels of oil a year, and it takes three times the water to make the bottle as it does to fill it.

For a product that claims to be environmentally responsible the bottled water industry does more than its fair share of planet trashing.

The amount of oil used to make a year’s worth of bottles could fill one million cars for a year. It takes about 72 billion gallons of water a year just to make the empty bottles. Another words it takes about two liters of water to make every liter you see on shelves of supermarkets and the like.

What do we get in return:

Out of all the plastic bottles that pollute our seas, our oceans, that are tossed out the windows of our cars, left to roll up on to our beaches fewer than 20% are recycled to a second life. To put this in perspective the California Department of Conservation estimated that roughly three million water bottles are trashed every day. The bottle that takes three minutes to drink takes up to a thousand years to biodegrade.

Pepsi Co claims to have diverted 196 million beverage containers to recycling using its own resources since it made its initial commitment in 2010, yet this represents only about one-third of one day’s sales of beverages in the United States.

More than 40 countries worldwide, including most European Union nations, have adopted some form of EPR (extended producer responsibility) mandate that shifts some or all financial responsibility for packaging recycling from taxpayers to producer brands.

Brands that place packaging into commerce need to take more responsibility for its life cycle impact. 

Recycling produces so many benefits to society that it should be a priority for corporate sustainability programs.

The biggest threat to increasing recyclability in the beverage sector is the growing use of flexible packaging….Using nonrecyclable packaging when recyclable alternatives are available wastes enormous amounts of resources, in contrast to aluminum and PET, which can be recycled many times over.

Of the 30 billion plastic water bottles sold in the United States in 2005, only 12 percent were recycled.

According to Doug James, a professor of computer science and computer graphics at Cornell University and a recycling advocate, we are left with 25 billion bottles world-wide that are dumped in landfills, littered or incinerated.

Essentially, there is no way for bottled water to be as environmentally responsible as tap water.

Many regions of the world lack access to clean drinking water, and bottled water is the only safe alternative. Companies know this and have been cleaning up in countries like China, Pakistan and India in recent years.

The 2011 global forecast for bottled water called for over $86 billion in profits. This includes sparkling flavored water, sparkling unflavored water, still flavored water and still unflavored water. A very impressive number considering a similar product comes basically free from the kitchen sink.

The global water market could be worth $800 billion by 2035, with Asia making up half that value as rapid economic growth and a rising population boosts demand, the president and chief executive of Finnish chemicals firm Kemira said.

“Water is the fastest growing market at the moment, with a size of $500 billion globally,” Harri Kerminen said in an interview in London.

Some experts foresee the water market hitting $1 trillion by as early as 2020.

So don’t be a Wally get your self a reusable stainless steel canteen.

It will pay for its self, stop you picking up some horrendous disease, and save on large dental bill if you leave the fluoride in. (Put it uncovered in the fridge for 24 hours and any chlorine will dissipate.)

The alternative is to carry on drinking bottled water which I am sure is subject to the same safety regulations as Tap water which covers all washing machine tablets, all washing up liqet, all shampoos, all industrial run off, all farming fertilizers run off, all lead piping, all landfill toxins, toilet cleaners, all fracking ( 7.5 trillion gallons of water mixed with dangerous chemicals a year in the US) all brown water shower/bath.  We know that pollution is a human problem because it is a relatively recent development in the planet’s history:Two photos showing point source and nonpoint source pollution. Top: point source pollution pouring from a dredge pipe into a waterway. Bottom: Nonpoint source pollution Pollution from ships and factories polluting a waterway

According to the environmental campaign organization WWF: “Pollution from toxic chemicals threatens life on this planet. Every ocean and every continent, from the tropics to the once-pristine polar regions, is contaminated.”

There is no easy way to solve water pollution; if there were, it wouldn’t be so much of a problem. There are three different things that can help to tackle the problem- education, laws, and economics.

Why am I bothered or for that matter why should any of us be bothered that water is being turned into profit.

Perhaps we are focused too much on reducing carbon emissions and have failed to take a sufficiently broad view including end-of-life fate and impact.

Materials that are “designed for the dump” reinforce a message to consumers that it’s okay to continue to throw away materials that could have been made to be recycled.

The very least we can do is work to protect and preserve earth. It’s not all about making massive profit.

The time for global action” to protect the integrity of our planetary home is now to develop a new set of guiding global goals.  We must embrace a culture of shared responsibility, one of all actors–governments, international institutions, private sector actors, and organizations of civil societies, and in all countries, to the people themselves.Working together as a team for innovation

We must remove this responsibility from the United Nations and create a new world Organisation.

What kind of new worldwide organisation could be established that would truly defend humankind’s common resources and limit the major powers?

The UN’s imperfections were manifest from its creation. It was built upon some obvious contradictions.

The UN was premised on the idea that the gravest threat to mankind was cross-border aggression, the main cause of the second world war: history later showed that the gravest threats came from states abusing citizens within their borders, or from terrorists who disregarded borders. Instead of strengthening collective structures to perform essential humanitarian and peacekeeping tasks, rich countries have decided to go it alone or stay home. The strings that member states attach to payment of their UN dues are even more demoralising.

If we want a healthy earth we need an organisation that represents Earth irrelevant of religion or power. That is Self financing, that rewards good practice and applies penalties for not. That is not governed by the might of Capitalism. ( See Previous Posts)

Mark my words if we don’t soon start seen our world as we there will be no Freshwater worth drinking.

 Nobody is winning right now on this thing. We’re not moving the needle.

Life is ultimately about choices—and so is pollution.

 

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Sovereign Wealth Funds. Alarm.

30 Sunday Nov 2014

Posted by bobdillon33@gmail.com in Uncategorized

≈ Comments Off on Sovereign Wealth Funds. Alarm.

Tags

Business and Economy, Capitalism, Extreme poverty, Globalization, Government, Greed, Inequility, ongoing Privatization of the world, Privatization of the World., sovereign wealth funds (SWF), The European Union

<img alt=”” src=”http://media-cdn.tripadvisor.com/media/photo-s/04/79/29/e0/1728.jpg”/>
This photo of 1728 is courtesy of TripAdvisor

Its back to my hobby-horse the ongoing Privatization of the World.

It is of course is happening in a clever way, with very careful paperwork, so we have the option of pretending that it’s not actually happening, right up until the bitter end.

I often wonder is it just me. You barley hear a mummer about it from any other quarter. Other than Ireland where the population has woken up to the Privatization of water.

Perhaps it’s that no one gives a tosser.

That our Governments are systematically divesting themselves of bits and pieces of their own sovereignty, by transfer of assets and service functions from public to private hands.

It’s taking place all over the world without really anyone noticing it happening — often not even the people are asked to vote formerly on the issue.

It is my contention that it is the quality of the state rather than the fact that assets are owned by the state that matters more. In developing countries with extensive market and information failures the state should play an important role in promoting equitable development over the long run not sell of their assets to the highest buyers.

At the political level privatization has been challenged by workers affected by attendant retrenchments and the restructuring of internal and external labor markets consequent upon privatization that has resulted in increased worker vulnerability, and by consumers who have often been negatively affected by increased prices based on cost recovery pricing regimes instituted as a consequence of privatization, or by reduction in service provision arising from “efficiency enhancing” measures as a consequence of privatization.

No one knows precisely how much money is held by SWFs but it is estimated that they currently own $3.5 trillion in assets, and within one decade they could balloon to $10–15 trillion. (equivalent to America’s gross domestic product, an amount larger than the current global stock of foreign reserves of the USA which is about $5 trillion.)

Imagine the biggest and most aggressive hedge fund on Wall Street, then imagine that same fund is fifty or sixty times bigger and outside the reach of any other major regulatory authority, and you’ve got a pretty good idea of what an SWF is.

The rise of sovereign wealth funds (SWF) as new power brokers in the world economy can no longer be looked at as a singular phenomenon but rather as part of what can be defined a new economic world order.

This new order has been enabled by several mega trends which operate in a self-reinforcing manner, among them the meteoric rise of developing Asia, accelerated globalization, the rapid flow of information and the sharp increase in the price of oil by a delta of over $100 per barrel in just six years which is enabling Russia and OPEC members to accumulate unprecedented wealth and elevate themselves to the position of supreme economic powers.

It will not be long before transactions involving investment by sovereign wealth funds, as with other types of foreign investment, may raise legitimate national security concerns.

Concerns are growing that the purpose of the investments might be to secure control of strategically important industries for political rather than financial gain.

They on the other hand see themselves as passive, long-term investors, driven solely by the need to make a good return on their country’s surplus cash.

There is a degree of looking through the wrong end of the telescope to all this.

Sovereign wealth funds have with total assets estimated at $5.4tn as of October 2013. The funds have gained more than $750bn in additional assets since 2012 of which only $60 billion has gone to recent bank bailouts.

They are rapidly becoming owners of big chunks of American,the UK and Europe infrastructures.

Unlike the central banks of most Western countries, whose main function is to accumulate reserves in an attempt to stabilize the domestic currency, most SWFs have a mission to invest aggressively and generate huge long-term returns.

The origin of these SWFs is not even relevant, necessarily.

What is relevant is that these funds are foreign.

They are state-owned investment pools that thanks to a remarkable series of events in the middle part of the last decade they are buying up your governments services such as water treatment, parking meters, toll highways, rail links, ports, public infrastructure projects, commercial real estate all delivering a lot of cash into the coffers of sovereign wealth funds like the Qatar Investment Authority, the Libyan Investment Authority, Saudi Arabia’s SAMA Foreign Holdings, and the UAE’s Abu Dhabi Investment Authority.

Some recent activity:

(The first was the announcement that the Qatari royal family is planning a large investment in the controversial £50billion HS2 rail link, focused on a major new station and housing scheme in central Birmingham.

Qatar Investment Authority, one of the world’s largest sovereign wealth funds, is soon to table a new bid to take over Songbird Estates which owns the iconic Canary Wharf tower in east London, one of the best-known modern symbols of British capitalism.  

Libya’s sovereign wealth fund is suing French bank Societe Generale in a British court for $1.5 billion for allegedly channeling bribes to allies of the son of slain dictator Muammar Qaddafi.  

Iran’s President Mahmoud Ahmadinejad said on Saturday the country’s sovereign wealth fund could reach $55 billion by March next year if oil prices kept high.

Iran earned $100 billion in oil revenue in 2011. Iran is both the world leader in Shariah Compliant Finance and the world’s most active state sponsor of Jihadist terrorism.

Deutsche Bahn Seeks Sovereign Funds for the state-owned railway, is seeking to sell shares to sovereign wealth funds in the Middle East and Asia during the initial public offering. )

What is more to the point, is we’re being colonized/Privatized.

Industry today may not be regarded as such an industry tomorrow, and vice versa.  Just look at the explosion of energy prices — thanks to a bubble that Western banks and perhaps some foreign SWFs had a big hand in creating.

Out side any regulation these funds are free to plunder the earth in the form of Hedge Funds( (which they have a bunch) with out anyone knowing who the funds investors are.

The point here is if these funds.

Are not regulated by the relevant international bodies determining which kinds of information about their balance sheets, management structures, investment objectives, portfolio breakdowns, and so forth should be supplied by sovereign wealth funds. The European Union could then put curbs on funds failing to comply with the standards for the publication of such information.

One way or the other they should be Capped ( See previous posts)

 

 

 

 

 

 

 

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