Showing posts with label plutocracy. Show all posts
Showing posts with label plutocracy. Show all posts

08 December 2025

The game is rigged *




 [a FB post by James Deakin 6 December 2025]


"It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong."
Thomas Sowell.

In 2006, Al Gore stood before millions and painted a picture of catastrophe. Citing climate scientists, he warned the world that the Arctic ice cap could be completely gone in summer months as soon as 2014—maybe even 2013.
His film, An Inconvenient Truth, which won an Oscar for Best Documentary in 2007, was even played in schools as some kind of mandatory conditioning program. Teachers dimmed the lights. Children watched glaciers calve into the sea and went home afraid to turn on lights, convinced their carbon footprint might tip the scale.
Governments reacted. Carbon taxes were introduced, renewable-energy mandates popped up everywhere, entire industries were restructured, and trading desks made billion-dollar bets on a future without Arctic ice.
2013 came. The ice remained.
2014 came. Still there.
No press conference. No acknowledgment. Just new predictions, new deadlines pushed further out.
It’s now 2025. Almost twenty years have passed since the grim prediction, and the Arctic isn’t ice-free. In fact, in 2024 it had 890,000 square kilometers more ice than in 2012.
Now scientists explain it away: “ocean currents were weaker,” “natural variations,” “20% chance of this happening.” Always an explanation after the fact. Never accountability for the prediction before it.
Gore’s net worth when he made the film? Around $2 million. Today? Over $300 million—climate consulting, green investment funds, speaking fees of $100,000+ per appearance. The failed predictions made him rich.
Then came March 2020.
“Two weeks to flatten the curve,” they said. Imperial College’s Neil Ferguson projected 2.2 million American deaths if we didn’t lock down. The experts were certain.
So society stopped—not gradually, not voluntarily, but by force of law. Businesses shuttered. Children stayed home for a year, some longer. Weddings were cancelled. Funerals limited to ten people. A grandmother died alone because the models said visitors would kill others. A restaurant owner lost everything he’d built over thirty years because the prediction said it was necessary.
The vaccine arrived with promises just as certain: “Get vaccinated, stop the spread.” The President said it. The CDC Director said it. You couldn’t enter a restaurant in New York or a mall in Manila without proof. People lost jobs for declining. The prediction was clear: vaccination stops transmission.
Except it didn’t. That fact emerged quietly, months later, in footnotes and revised guidance. No apologies to those fired. Just movement to the next message.
The two weeks became two years. The millions of projected deaths never materialized. Sweden didn’t lock down and didn’t see catastrophe. Florida opened early and didn’t collapse. When reality diverged from the forecast, those who’d demanded the sacrifice simply moved on.
To what? Pfizer’s CEO saw his compensation hit $33 million in 2022. Anthony Fauci retired with a roughly $15 million net worth and a $350,000 annual pension—the highest in federal government history. The consulting firms that advised lockdowns? Billions in government contracts.
The restaurant owner? Bankrupt. The fired nurse? Still unemployed. The children who lost two years of education? Still catching up.
But this pattern runs deeper
In 2003, the most powerful government on earth stood before the United Nations. Colin Powell held up a vial and described mobile biological-weapons laboratories. Satellite photos. Intelligence reports. The certainty was absolute.
“We know that Saddam Hussein has weapons of mass destruction,” Cheney declared. Not “we believe”—we know.
The prediction demanded action. 4,500 American soldiers died. Hundreds of thousands of Iraqis died. Two trillion dollars spent. An entire region destabilized for a generation.
The weapons didn’t exist. They never existed.
Not only did nobody go to prison; the architects wrote memoirs, collected speaking fees, taught at universities, and appeared on television as foreign-policy experts. Cheney’s net worth grew from around $30 million to over $100 million before he died. Halliburton, the company he formerly ran, received $39.5 billion in Iraq-related contracts.
The soldier who died searching for weapons that didn’t exist? His family got a folded flag.
Even the children were used
In June 2018, a teenage girl shared an article: “A top climate scientist is warning that climate change will wipe out all of humanity unless we stop using fossil fuels over the next five years.”
Five years. That meant 2023.
Greta Thunberg was a relative nobody then. But the conveniently apocalyptic prediction became gospel. She addressed the UN, met world leaders, and was nominated for the Nobel Peace Prize while governments accelerated green mandates.
2023 came. Humanity persisted.
And quietly, between March 7 and March 13, 2023, the original article (and references to the five-year claim) disappeared from the internet. No explanation. No accountability.
She was 15 when the claim went viral. But watch how quickly she learned the game. By 20, she was lecturing world leaders. By 21, she’d built a brand worth millions. The failed prediction didn’t hurt her; Time Magazine declared her Person of the Year in 2019.
This is the system teaching the next generation how it works.
But here’s the pattern you’re not supposed to notice
Elite authority makes catastrophic prediction. Media amplifies without question. Prediction demands immediate sacrifice from ordinary people. Society restructures; costs imposed on the working and middle class. Elites profit from the restructuring. Prediction fails. No consequences for elites. Same authorities make new predictions. Rinse, spin dry, repeat.
Every single time, the people who make the predictions get richer. Every single time, the people forced to comply get poorer.
This isn’t incompetence. Incompetent people don’t keep getting promoted. Incompetent people don’t get richer every time they’re wrong. Incompetent people don’t maintain their platforms after being catastrophically wrong again and again.
This is a feature, not a bug.
Because the pension fund manager who divested from energy at the wrong time? Lost his job.
The small manufacturer crushed by compliance costs? Bankrupt.
The salon owner who lost her business for opening two weeks early? Homeless.
The nurse fired for declining a vaccine that didn’t stop transmission? Career destroyed.
The soldier who died searching for weapons that didn’t exist? Dead.
Meanwhile: Al Gore, richer. Fauci, richer. Pfizer executives, richer. Defense contractors, richer. Cheney, richer. The politicians, still in office. The consultants, more contracts. Greta Thunberg, international celebrity.
They are never held accountable because the system is designed to protect them.
You can’t vote out the CDC. You can’t fire the UN climate panel. You can’t sue Al Gore for the money your pension fund lost. You can’t get your business back after the lockdowns. You can’t get those years of your children’s education back.
But they can make another prediction tomorrow. And each time, you’ll be told: comply or face consequences. When they’re wrong, they face nothing.
The game is rigged
They’ve discovered the perfect con: Make apocalyptic predictions. Demand sacrifice. Profit from the compliance. When the apocalypse doesn’t come, make a new prediction. The only people who ever pay are the ones who either complied or refused to comply.
This is about power maintaining itself—a class of people who have insulated themselves from consequences while ensuring everyone else absorbs maximum risk.
It’s time to stop playing along. This only works when everyone is complicit and doesn’t demand accountability.
So when the next prediction comes—and believe me, it’s coming—ask yourself:
Who profits if I comply?
Who pays if they’re wrong?
Have these people ever been held accountable before?
What happens to me if I don’t comply versus what happens to them if they’re wrong?
The answers will tell you everything you need to know.
They’re counting on you not noticing the pattern. They’re counting on your fear, your compliance, your trust in institutional authority. They’re counting on you believing that this time, it’s different.
It’s never different.
The elites make predictions. The elites profit. The elites face no consequences. The pattern repeats.
Fool me once, shame on you. Fool me twice, shame on me. But fool me with the same script, the same players, the same outcome, decade after decade?
That’s not deception anymore. That’s permission.

10 January 2012

No conspiracy theory: An elite controls the world!

[Google translation of German article]

Bankers apparently actually dominate the world. What we suspected for a long time, researchers in Switzerland have finally confirmed: In a scientific study showed that a small elite controls the entire world economy. Well something like that!

Of the Freemasons of the Council on Foreign Relations (CFR), to the Bilderbergers: What are many bloggers, independent journalists, filmmakers and authors writing for several years, desperate fingers bled, was now by a recent study by the Swiss Institute of Technology in Zurich confirms. The fact that the demonstrators "Occupy" movement is described as 99% while not as obviously wrong: From a database containing the 2007, the data on 37 million companies and investors around the globe have, researchers at 43 000 transnational corporations and their share ownership focused. The analysis showed clearly that within this group of 1,318 companies linked so closely together that they make up about 60 percent of global sales.

Within this very elite group of companies, there is still an elite, a so-called "super-unit" of 147 companies, which controls around 40% of the entire network. "In fact, less than one percent of the company is able to control 40 percent of the entire network," said James Glattfelder, one of the researchers of the study, on which the New Scientist reported. Included are, of course, again the usual suspects. And & the Bank of America Corporation, Morgan Stanley, Goldman Sachs Group Inc., Merrill Lynch & Co Inc and JP Morgan Chase Co are even in the top 25 within the "super unit".

The reality is so complex that one must get away from the call to such circumstances as a "conspiracy theory" as Glattfelder added. "Our analysis is the reality."

The study builds on earlier economic theories, which also was detected in that wealth is concentrated systematically on individual parts of the population. Thus, the Italian economist Vilfredo Pareto in 1906 had found that in Italy some 20 percent of the population controlled 80 percent of the country. This study became known as the Pareto principle. Pareto also found out that in spite of different conditions in the country, the distribution of wealth remains always the same. Conclusion: Natural resources, independent of human performance, tends to accumulate to put on some, rather than being evenly distributed. Politicians and parties have therefore only the function, you sell it to the stupid foot soldiers humanely.

The top 50 "Super Unit", disclosed in Alles Schall und Rauch blog:
  1. Barclays plc
  2. Capital Group Companies Inc
  3. FMR Corporation
  4. AXA
  5. State Street Corporation
  6. JP Morgan Chase & Co
  7. Legal & General Group plc
  8. Vanguard Group Inc
  9. UBS AG
  10. Merrill Lynch & Co Inc
  11. Wellington Management Co LLP
  12. Deutsche Bank AG
  13. Franklin Resources Inc
  14. Credit Suisse Group
  15. Walton Enterprises LLC
  16. Bank of New York Mellon Corp.
  17. Natixis
  18. Goldman Sachs Group Inc
  19. T Rowe Price Group Inc
  20. Legg Mason Inc
  21. Morgan Stanley
  22. Mitsubishi UFJ Financial Group Inc
  23. Northern Trust Corporation
  24. Société Générale
  25. Bank of America Corporation
  26. Lloyds TSB Group plc
  27. Invesco plc
  28. Allianz SE 
  29. TIAA
  30. Old Mutual Public Limited Company,
  31. Aviva plc
  32. Schroders plc
  33. Dodge & Cox
  34. Lehman Brothers Holdings Inc
  35. Sun Life Financial Inc
  36. Standard Life plc
  37. CNCE
  38. Nomura Holdings Inc
  39. The Depository Trust Company
  40. Massachusetts Mutual Life Insurance
  41. ING Groep NV
  42. Brandes Investment Partners LP
  43. UniCredito Italiano SpA
  44. Deposit Insurance Corporation of Japan
  45. Vereniging Aegon
  46. BNP Paribas
  47. Affiliated Managers Group Inc
  48. Resona Holdings Inc
  49. Capital Group International Inc
  50. China Petrochemical Group Company


[see the original ETH paper in English]

20 June 2010

Is there a Global War Between Financial Theocracy and Democracy?

[An article by Les Leopold]

Senate and House conferees are about to reconcile a financial reform bill that is virtually designed to institutionalize "too big to fail." And when they do we'll lose another battle in the ongoing war between global financial markets and democratic nation-states.

This war has been going on for decades -- but democracy hasn't always been in full retreat.

The New Deal Conquest: During the Great Depression democratic forces gained the upper hand in the war. We realized that financial markets, which are driven by the largest banks and financiers, had to be tightly controlled. We knew that global speculation on currencies only deepened the Depression and had to be strictly limited. We knew that an iron curtain was needed between commercial and investment banking to protect Main Street depositors from market madness (that was the Glass-Steagall Act). And most importantly we knew that the key to preventing economic upheaval was to limit the wealth of the super-rich and to increase the wealth of working people through progressive taxes, Social Security, wage and hour laws, and the promotion of unionization. The Bretton Woods agreements forged by the Allies during WWII set up strict rules for global finance, rules that kept financiers in check for more than a quarter century.

And it worked pretty damn well. As economist Joseph Stiglitz points out, this era saw only one financial crisis (Brazil, 1964), and working people in western democracies made huge gains. Since the era of deregulation took hold in the late 1970s, the world has suffered over a hundred financial crises and middle-class incomes have stagnated.

The Deregulatory Counter-Offensive: By the late 1970s, bankers regained the advantage through the spread of a new faith in self-regulated markets. The economic apostles of unfettered markets lobbied against progressive taxes, unions, and social welfare programs. The new orthodoxy was: Let the elites collect the money--they'll invest wisely (instead of consuming), and all boats will rise. This near-religious revolution rapidly spread through the economic and policy establishment. Regulations were dismantled right and left, and the revolving door between government and Wall Street started spinning. The American financial catechism ruled the world. And on Wall Street, the money tap was open. It did not trickle down.

Then, suddenly, in 2008, the market gods destroyed themselves as the unregulated financial casinos crashed and burned, just like they did in 1929. For a few months, it seemed like the deregulatory theology become a global heresy. It was obvious that Wall Street's reckless speculation and its bold new wave of financial engineering had caused the Great Recession. (See The Looting of America for an accessible account.). It was also clear that if government didn't come to the rescue, Wall Street would lay in ruins, along with the rest of the economy. This was the perfect moment for democracy reassert democratic control on financial markets, just as we did during the New Deal. We blew it.

The Victory at Too Big to Fail: At the moment when Wall Street was on its knees, we decided to bypass serious reform. Instead, we rebuilt Wall Street, using taxpayer money and guarantees - more than $10 trillion worth. We let bankers use our bailout money to pay themselves $150 billion in bonuses -- at a moment when over 29 million Americans were jobless or forced into part-time jobs. We allowed the top hedge fund managers to walk off with over $900,000 an hour (not a typo) in 2009. Windfall profits taxes? No. In fact we let hedge fund honchos pay an extra-low tax rate by calling their income "capital gains." We didn't restore Glass-Steagall, we didn't break up "too big to fail" financial institutions. In fact the biggest banks became even bigger, courtesy of the U.S. government.

The Invasion against Democracy: The war is escalating. Right now, financial elites aren't just fighting a defensive battle against new regulations. They're playing offense: They're whipping up deficit hysteria around the globe and calling for drastic cuts in middle class programs. Why? They want to ensure that their loans to governments aren't threatened by rising public debt. Ironically, the public debt they're so worried about was created in large part by them -- the result of huge bailouts and other expenses stemming from the crash they caused. Although the bankers want us to dismantle what remains of our worker-oriented policies, welfare for the financial elites is still fine and dandy.

This is the most dangerous counter attack in the history of finance. We had better know a great deal more about the attackers. Who makes up this shadowy force called "global markets"? Who fights their battles? Do they have a high command?

Not really. There is no executive committee of financial elites. There's no international conspiracy, no Elders of Zion. Instead these markets are pulled and pushed by about 50 very large banks and financial institutions. This is where much of the nation's $2 trillion in hedge fund money roams. This is where the top six US banks frolic. They don't have to sit around a table strategizing. They instantly sense threats to their power. They instantly smell profitable openings and they're poised to grab what they can, whenever they can. They thrive on turmoil, which gives them new "proprietary" trading opportunities to exploit. Volatility means big bucks, especially now that the largest players know that the government will back up even their wildest gambles. History has just proven that they are way too big to fail.

Of course they still have to lobby government officials--many of whom either were bankers, or will be once they leave office. But their most powerful lever on government is through the market itself: Here, by moving vast quantities of money around, they can instantly veto policies they don't like. If the EU talks seriously about financial transaction taxes, the markets go down the Euro grows weaker, and interest rates rise--making it more expensive for governments to borrow the money they need to operate. Politicians have learned to "listen" to the markets and are conditioned to placate them.

Should a nation state get out of line (Greece, Italy, Spain, Portugal, etc), the markets slap them silly. Politicians rush to the scene and start slicing social spending. If instead they demand new taxes on financial elites to reduce public debt, the markets respond with even more fury. Money flees.

All the external machinery of democracy still clanks along. We still pull the levers in the voting booth. But the decisions that affect us the most are made in a profoundly undemocratic way. Faceless financial markets exercise far more control over politicians than the voters who elected them.

So the problem isn't just the corporate campaign contributions, or corporate media control or the academic consensus supporting our financial theocracy. It's the raw power of the markets. They've been roaming free and virtually unregulated for more than a generation, and now their power is unparalleled. Just months after they brought our economy crashing down, they're right back to their old tricks, setting the stage for the next crash and the next bailout while getting filthy rich along the way.

Bill Clinton nailed it on the head when he reportedly said:
"You mean to tell me that the success of the economic program and my reelection hinges on the Federal Reserve and a bunch of fxxxing bond traders?" (See Agenda by Bob Woodward)

No Retreat, No Surrender? There's no room for pacifists in this war. Clearly, Wall Street and its global minions are not seeking a truce. Instead, they're coming after our Social Security, Medicare and Medicaid programs. They want us to work longer before we retire and get less when we do. They want us to pay more for health care and get less of it. They want less public money to go to schools, teachers and public infrastructures. And they want us to get used to a jobless recovery with double digit unemployment rates. (And when millions and millions of people are unemployed, we can't maintain high labor standards, and our wages and benefits erode.) In short, they want to undermine all the policies and programs that have built and sustained middle class life.

Already government officials in the UK, Germany and here are telling us we must endure austerity for "decades to come." As Fed Chair Ben Bernanke candidly put it:

"We can see what problems can arise in a country if investors lose confidence in the fiscal position of that country, so it is very important that we address this problem."
Of course, he's not going to point out that this austerity is only for the masses, definitely not for the financial elites. Or that the underlying cause of the debt investors are so worried about is the giant economic crater caused by the very same financial elites who now might "lose confidence" in financing a middle class society.
We shouldn't kid ourselves about the pitched battles ahead. Fighting back won't be easy, and winning will be even harder. People in country after country will have to mobilize themselves in defense of real democracy, in defense of each nation's right to provide its people with a decent quality of life. In my opinion, that includes sustainable jobs with decent benefits and a solid public infrastructure that promotes equity, protects the vulnerable and enriches the environment.

Unfortunately, no one can guarantee that democracy will prevail in the war against financial theocracy -- just recall the totalitarian chaos in Europe during the Great Depression. But don't count it out, either. It's true that many of us regular folks have been diverted by the media, distracted by the Internet or lulled into a stupor by pharmaceuticals. But when we realize that we've been shoved into a corner with no way out, we'll act. A popular struggle will begin. And when it does, we'll at least have a fighting chance to recapture our democratic souls.

28 June 2008

It’s Nice to Be Rich

[NY Times editorial, published June 28, 2008]

Millionaires are already wildly overrepresented in Congress. The Supreme Court gave a big boost to rich candidates this week by striking down the “millionaire’s amendment,” which was designed to help level the playing field for candidates running against wealthy opponents... [read full text]