Tag Archives: Sovereign wealth fund

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.  

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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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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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.

 

 

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 THIS ALL WE ARE? CONSUMERS.

02 Monday Jun 2014

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The richer we are and the more we consume, the more self-centred and careless of the lives of others we appear to become.

Even if you somehow put aside the direct, physical impacts of rising consumption, it’s hard to understand how anyone could imagine that economic growth is a formula for protecting the planet. So what we seem to see here is the turning of a vicious circle.  The more harm we do, the less concerned about it we become. And the more hyper consumerism destroys relationships, communities and the physical fabric of the Earth, the more we try to fill the void in our lives by buying more stuff.

All this is accompanied in the rich anglophone nations with the extreme neoliberalism promoted by both press and politicians, and a great concentration of power in the hands of the financial and fossil fuel sectors, which lobby hard, in the public sphere and in private, to prevent change.

How we break the circle and wake people out of this dream world is the question that all those who love the living planet should address.

There will be no easy answers. To succeed is to destroy ourselves. To fail is to destroy ourselves. That is the bind we have created.

Ignore if you must climate change, biodiversity collapse, the depletion of water, soil, minerals, oil; even if all these issues were miraculously to vanish, the mathematics of compound growth make continuity impossible.

Iron ore production has risen 180% in ten years. The trade body Forest Industries tell us that “global paper consumption is at a record high level and it will continue to grow.” If, in the digital age, we won’t reduce even our consumption of paper, what hope is there for other commodities?

Any market-based system to save the planet generates a clash between profit and protecting nature and it is usually resolved in favour of business. Just look at the price of carbon credits £2.80 below junk bonds.

All systems of Governments are flawed, but those that are controlled by private money are reduced to a subsidiary of the human economy. Nature is worthy of protection when it is profitable to business.

NOW I AM NOT THE ONLY PERSON ADVOCATING CHANGE.

THE PROBLEM IS COMBINING ALL THE VOICES INTO ONE THAT WILL HAVE AN EFFECT.

It is time that people matter more than profit.

The Foreign Exchange Market which is largely unregulated is $5.3 trillion a day. Just think what we could be achieved by a World Aid Commission of 0.05% . See previous Posts.

If you have any suggestions as to how we can achieve a United World Voice I am all ears.

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WHAT IS GLOBALIZATION?

31 Saturday May 2014

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social network structure Stock Photo - 15456081

IF YOU CONSIDER THE QUESTION WHAT DO YOU COME UP WITH.

Globalization is everywhere on TV, on websites, learning journals, labour meeting rooms and in organization’s boardrooms. Remarkably, for so widely a used term, there does not appear to have a precisely agreed definition.

There can be no doubt that it is causing a shift away from democracy (rule by the people) and toward plutocracy (rule by the rich).

One of the frequently used definitions is that globalisation refers to the growing integration of societies across the world, it has taken many forms and it is difficult to discuss it in a general way.

HERE A FEW ATTEMPTS TO DEFINE IT.

Globalization can be defined as a procedure in which geographic distance is a diminishing factor in the formation and sustentation of international economic, political and cultural relations….

Globalization is “the integration of states through increasing contact, communication and trade to create a holistic, single global system in which the process of change increasingly binds people together in a common fate”

Globalization can be defined as the ability to produce goods or services anywhere in the world using capital, technology and components from anywhere and to sell the output anywhere and place the profits anywhere”

Globalization is a confusing concept. For some it conjures up images of electronic communications: an email, global media, and popularization of mobile phones. For others it is about trade: the ability to buy coca-cola in rural villages in Africa. For yet others it is about misappropriation and greed: the suicide of Indian peasant farmers ruined by agribusiness and genetically modified seeds.

Globalization is the massive control of the world’s economy by big business, this control transcends the boundaries of state and country. This transcendence across countries makes the subunits of the economy decompose and depend on the larger companies with a controlling interest in most of the capital within a given economy.

Globalization with its policies of free trade, financial liberalization, deregulation, reduced government spending, and privatization concentrate wealth at the top to the people who already have it.  These policies affect local governments and communities because they don’t have the tools to “ensure equity and to protect workers, social services, the environment, and sustainable livelihoods.  Also, the institution that were created by globalization, like the World Bank and International Monetary Fund, increases inequality between nations and increase poverty.

When a policy decision might only advance the extreme nationalist’s nation only slightly, even though it may cause extreme suffering in another part of the world, the extreme nationalist supports it as national interests come first. The extreme cosmopolitan feels that when there is a conflict between national and human needs the needs of humanity come first. This person feels that “patriotism is not a virtue and loyalty to one’s country is valuable only insofar as it promotes the interests of humanity”

Capitalism is not one economic system but many. “There are different ways to organise capitalism. Free-market capitalism is only one of them – and not a very good one at that. There is no one ideal model.” This is clearly right, but the types of capitalism that exist today are not just different. They are also competitors, with conflicting needs and goals. Chinese capitalism, Russian capitalism, Indian capitalism and American capitalism are geopolitical rivals as much as they are different ways of organising the marketplace, and they threaten one another in a number of contexts – not least when they are struggling to secure control of scarce natural resources. Many of the world’s conflicts are driven by these geopolitical rivalries.  The new soldiers in this war are Sovereign Wealth FUNDS.

“The meaning of life: something that no one really knows. Besides, there’s not much point in being the richest man in the cemetery” (Peter Ustinov)

There is only one solution to making the distribution of wealth in this Globalized World so that it is shared by all.  No wealth tax will work because it cannot be applied on a fair and even bases.   So we are left with a global aid commission of 0.05% ON ALL FOREIGN CURRENCY TRANSACTIONS WORLD WIDE  this would be a simple and fair implementation of global opinion.

 

THERE IS A TECTONIC SHIFT HAPPENING IN THE WORLD’S ECONOMIC POWER

27 Tuesday May 2014

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Press Conference for the 3rd meeting of the IFSWF, May 11-13, 2011

“Our needs determine us, as much as we determine our needs” George Eliot.

While we are all preoccupied with our daily lives if we don’t wake up soon to changing the way our world operates all of our needs will be Privatised.

The very essentials are being plundered for profit not by the Banks of the G8 countries but rather a multi-trillion dollar network of super rich, secretive and largely unregulated investment vehicles – FOREIGN SOVEREIGN WEALTH FUNDS. Government run corporations and Private Equity Funds.

They are buying major stakes in Multinational Corporations, Farmland and Natural Resources.

They are moving the Conversation from International Competition to Global “Financial Warfare” and will soon dominate the Future Path of the Global Economy.  In addition to ethical issues, this ongoing concentration of wealth in the hands of a tiny minority is questionable insofar as the resulting increased demand for investable securities contributes to a safe asset imbalance that poses a threat to the stability of the global economic system.

In the coming 6/7 years they will exceed the total size of the world,s official reserves.

We cannot continue with Rich countries making up their own mines on what they will buy. Somehow we must rise to the challenge. If not us, if not now, when?

They must be stopped by capping their ownership. The International Forum of Sovereign Wealth Funds (IFSWF) has decided to establish its Secretariat office in the City of London.