Thoughts on free-market capitalism reform- Equality

“Give me control of a nation’s wealth and I care not who makes the laws.”- David Rockefeller

Credit Suisse in 2015 stated that 1% of the worlds population holds 50% of the wealth.

So, It’s blatantly obvious to the learned man that the banking system/financial system is rigged and controlled by a few people in their very own interest with a system that supports their control. To the layman I thought it was obvious but it seems the average Joe feels there is a problem but cannot comprehend it. But, for the purpose of this blogs topic, I will not be talking about how the financial system is rigged, watch these documentaries, if you need information. I’ll only be talking about solutions but let me be clear: I am not an economic professor or very learned in this field, I just listen to the people who are and they have solutions. I will merely summarise the various options they present in a conclusive and concise manner, then give links to their works/sites.

Firstly, let this be clear, before maybe the 16th century interest was called usary and it was illegal in civilised society. What changed to allow the bankers to profit from other people? They will give you some spiel about ‘ratcheting up the economy’ like they always do in order to conceal their true agenda. But it should be obvious to anyone: a privately owned bank making money from your desperation and out of nothing (interest) is a serious problem. They give loans and then you must pay back more. If money is supposed to be a pricing index in direct correlation to goods and/or services, then this extra money (made out of thin air aka debt) will create immense inequality. They’re essentially loan sharks, concealed behind a nice suit and legislation made in their favour- obviously through provocation.

So, the steps to financial reform are: (links provided to organsiations working on/or with this reform)

  1. Separate the current banks into commercial and private
    • Commercial banks are government owned and give loans out to the people with zero interest, or a small ceiling’d rate. Having a proper ‘ratcheting effect’.
      • They are answerable to the people and can’t make silly bets on property that send the whole planet into recession
    • Private banks are then called Investment banks and people can choose to invest (gamble) with them if they wish
      1. They are required to be fully transparent
    • This can be done at national level soon
  2. Private banks cannot create any money from loans
    • 91% of money is created this way, it’s money from nothing, going to the top from the bottom
      • Also can be done at national level in tandem with step 1
  3. Close the FUCKING tax havens down
    • Multilateral legislation in the form of taxes paid only in original country
    • Multilateral legislation for agreed on corporate tax rate
    • This needs to be done at international level, very difficult in current ‘nationalist fervor’ state
  4. Global Tax on capital
    • Multilateral legislation on taxing the capital in an incremental way
    • Again, very difficult, international required

Obviously, this is extremely difficult in the current ‘nationalist fervor’ state we find ourselves in because each country has different legislation and are out for their own interests. The whore countries (like Ireland) need the economic gains, corporate investment and the people need the jobs. But to allow this to continue is a bigger problem to the planet as a whole and sacrifice must be made.

Again the problem here is a competitive economic system. It’s in a nations best interest to be a whore to corporate globalised interests. Especially small countries like Ireland or the caymen islands, who need to compete with the big boys. True reform of this needs complete reform at the international level but again we’re stuck in a multi faceted competitive economic system, controlled by the people at the very top in their interests. We need change at the very ,very core of the economic system and it must be demanded and enacted by the people. Anything else is just patch work but as I’ll describe in a later piece I feel these reform techniques are required primarily as a stepping stone to create the societal environment to enable the people to demand change to a better system, that works for them and adapts to the requirements of nature. More on this to come.

Read these 37 ways to reform an economy, very well done for a better summary of reform techniques

Watch Lectures by positive money UK

Check this website for Modern Money Theory reform techniques

Read this book by Thomas Pikkety for arguably the most accurate, data full economic literature to date.

Thanks for reading ‘Waxy wick: another candle in the dark- shedding light on the abundant nonsense & posing solutions’ new blogs each week.

Comments welcome, follow me @gavgluaisteán

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