This guy wrote an excellence article drawing together the pieces to explain how we are being destroyed financially. This system is not Humanist, it’s not Capitalist and it certainly isn’t Democracy. As I have tried to tell anyone that will listen for 20 years now it is Neo-Feudalism, with CEOs, “Officials” and Cops replacing the Kings, Dukes and Knights. We need to keep going forward rather than regressing back to and ugly time in our history.
Great Job Michael!
Top 1% Own 39% Of All Global Wealth: Hoarding Soars As We Hurtle Toward Economic OblivionMay 31st, 201337 4 0 0 51
According to a study that was just released by Boston Consulting Group, the wealthiest one percent now own39 percent of all the wealth in the world. Meanwhile, the bottom 50 percent only own1 percent of all the wealth in the world combined. The global financial system has been designed to funnel wealth to the very top, and the gap between the wealthy and the poor continues to expand at a frightening pace. The global elite continue to hoard wealth and heap together enormous mountains of treasure in these troubled days even though the economic suffering around the planet continues to grow.
So exactly how have the global elite accumulated so much wealth? Well, one of the primary ways is through the use of debt. As I have written about previously, there is about 190 trillion dollars of debt in the world but global GDP is only about 70 trillion dollars. Our debt-based global financial system systematically transfers wealth from us and our governments into the hands of the global elite. And of course the gigantic banks and corporations that the elite control are constantly gobbling up everything of value that they can find: natural resources, profitable small businesses, real estate, politicians, etc. Money, power, ownership and control are becoming very, very tightly concentrated at the top of the food chain, and that is a very dangerous thing for humanity.
When too much money and power gets into too few hands, it almost always results in tyranny.What will eventually happen when the global elite have ALL the wealth?Will the rest of us work as serfs in a system that they have iron-fisted control over?And what if they decide that they don’t really need billions of people working for them? Will they decide to implement population control measures in order to reduce the number of “useless eaters”? It is already happening in China and other highly centralized societies.
When all of the economic rewards of a society go to a very small handful of people, it tends to be very destabilizing. We have seen this again and again throughout history.When people have everything taken away from them and they have nothing left to lose, they tend to become very desperate. And right now we are rapidly hurtling toward a time of great global instability. Anger and frustration are growing all over the globe, and the rate at which the gap between the wealthy and the poor is widening seems to be accelerating.
Just check out these numbers…
-The wealthiest 1 percent of the global population now owns 39 percent of all the wealth on the planet.
-According to a report that was released last summer, the global elite have up to 32 TRILLION dollars stashed in offshore banks around the planet.
-According to a study conducted by Credit Suisse, the bottom two-thirds of the global population owns just 3.3% of all the wealth.
-A study by the World Institute for Development Economics Research discovered that the bottom half of the world population ownsapproximately 1 percent of all global wealth.
-It is estimated that the entire continent of Africa only ownsapproximately 1 percent of the total wealth of the world.
-Approximately 1 billion people throughout the world go to bed hungry each night.
-If you can believe it, more than 3 billion people currently live on less than 2 dollar a day.