Category Archives: Capitalism

Wall Street’s Takeover of Nature Advances with Launch of New Asset Class, by Whitney Webb

There is nothing Wall Street can’t monetize, and that includes nature. From Whitney Webb at unlimitedhangout.com:

A project of the multilateral development banking system, the Rockefeller Foundation and the New York Stock Exchange recently created a new asset class that will put, not just the natural world, but the processes underpinning all life, up for sale under the guise of promoting “sustainability.

Last month, the New York Stock Exchange (NYSE) announced it had developed a new asset class and accompanying listing vehicle meant “to preserve and restore the natural assets that ultimately underpin the ability for there to be life on Earth.” Called a natural asset company, or NAC, the vehicle will allow for the formation of specialized corporations “that hold the rights to the ecosystem services produced on a given chunk of land, services like carbon sequestration or clean water.” These NACs will then maintain, manage and grow the natural assets they commodify, with the end of goal of maximizing the aspects of that natural asset that are deemed by the company to be profitable.

Though described as acting like “any other entity” on the NYSE, it is alleged that NACs “will use the funds to help preserve a rain forest or undertake other conservation efforts, like changing a farm’s conventional agricultural production practices.” Yet, as explained towards the end of this article, even the creators of NACs admit that the ultimate goal is to extract near-infinite profits from the natural processes they seek to quantify and then monetize.

NYSE COO Michael Blaugrund alluded to this when he said the following regarding the launch of NACs: “Our hope is that owning a natural asset company is going to be a way that an increasingly broad range of investors have the ability to invest in something that’s intrinsically valuable, but, up to this point, was really excluded from the financial markets.”

Framed with the lofty talk of “sustainability” and “conservation”, media reports on the move in outlets like Fortune couldn’t avoid noting that NACs open the doors to “a new form of sustainable investment” which “has enthralled the likes of BlackRock CEO Larry Fink over the past several years even though there remain big, unanswered questions about it.” Fink, one of the world’s most powerful financial oligarchs, is and has long been a corporate raider, not an environmentalist, and his excitement about NACs should give even its most enthusiastic proponents pause if this endeavor was really about advancing conservation, as is being claimed.

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Risk Was Never Low, It Was Only Hidden, by Charles Hugh Smith

“Sure things” are the riskiest investments ever. From Charles Hugh Smith at oftwominds.com:

The vast majority of market participants are about as ready for a semi-random “volatility event” as the dinosaurs were for the meteor strike that doomed them to oblivion.

Judging by euphoric gambler–oops I mean “investor”–sentiment and measures of volatility, risk of a market drop has been near-zero for the past 18 months. But risk was never actually low, it was only hidden. When it emerges, it’s a surprise only to those who mistakenly thought risk had vanished.

As Benoit Mandelbrot explained in his book The (Mis)behavior of Markets, crashes are an intrinsic feature of systems like stock markets. These risks are not generated by specific human actions or sentiment but by the system itself.

Just as humans make subconscious decisions and then conjure up quasi-rational justifications for their choice after the fact, market participants always conjure up some event or decision as the cause of the crash. Favorites include central bank policy error, black swan events (“bolts from the blue”), earnings surprises, technical levels were breached, and so on.

Mandelbrot’s insights reveal why markets crash without any policy error or other fabricated- after-the-fact justification: as those who witnessed the collapse of Japan’s massive credit-asset bubble in 1989-1990 observed, markets just stopped going up and started falling.

Risk is a reflection of many dynamics, but the key dynamic few participants seem to understand is the inherent instability of complex systems: surface tranquility is not an accurate reflection of the actual state of stability or risk, no mater how long the period of tranquility stretches.

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“The Great Reset” Is the Road to Socialism Mises Warned Us About, by Tho Bishop

Socialism has been smuggled in by a thousand compromises. When a fundamental principle compromises with political expediency, who wins? From Thos Bishop at mises.org:

Through the sheer power of his intellectual output, Ludwig von Mises established himself as one of the most important intellectuals of the twentieth century. His work Human Action remains a foundational text of the Austrian school. His critique outlining the impracticality of socialism was vindicated with the fall of the Soviet Union and remains without a serious intellectual challenge today.

Just as important, but often overlooked, is his work on the economic system that continues to infect the world today: interventionism.

Like contemporaries such as James Burnham, Mises discerned that the true threat to free markets in the West was not a true socialist revolution, but rather a “middle of the road” approach that so attracted an intellectually shallow political class.

In 1950, during one of his most important speeches, Mises identified the most dangerous ideology on the global stage:

They reject socialism no less than capitalism. They recommend a third system, which, as they say, is as far from capitalism as it is from socialism, which as a third system of society’s economic organization, stands midway between the two other systems, and while retaining the advantages of both, avoids the disadvantages inherent in each. This third system is known as the system of interventionism. In the terminology of American politics it is often referred to as the middle-of-the-road policy.

This ideology succeeded where communism failed, successfully toppling governments around the world that never had true respect for property rights.

But as Mises understood, however, this “managerial revolution” could not last as a sustainable form of government. Interventionism may be politically convenient, but ultimately it is grounded in volatile inconsistencies. It must be rejected completely, or it will inevitably lead to more and more power shifting to the state.

This is precisely what we have seen.

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Capitalism—A New Idea, by Jeff Thomas

There’s not one person on this planet who has lived under a purely capitalistic system, yet every economic ill and shortcoming is attributed to capitalism. From Jeff Thomas at internationalman.com:

Capitalism, whether praised or derided, is an economic system and ideology based on private ownership of the means of production and operation for profit.

Classical economics recognises capitalism as the most effective means by which an economy can thrive. Certainly, in 1776, Adam Smith made one of the best cases for capitalism in his book, An Inquiry Into the Nature and Causes of the Wealth of Nations (known more commonly as The Wealth of Nations). But the term “capitalism” actually was first used to deride the ideology, by Karl Marx and Friedrich Engels, in The Communist Manifesto, in 1848.

Of course, whether Mister Marx was correct in his criticisms or not, he lived in an age when capitalism and a free market were essentially one and the same. Today, this is not the case. The capitalist system has been under attack for roughly 100 years, particularly in North America and the EU.

A tenet of capitalism is that, if it’s left alone, it will sort itself out and will serve virtually everyone well. Conversely, every effort to make the free market less free diminishes the very existence of capitalism, making it less able to function.

Today, we’re continually reminded that we live under a capitalist system and that it hasn’t worked. The middle class is disappearing, and the cost of goods has become too high to be affordable. There are far more losers than winners, and the greed of big business is destroying the economy.

This is what we repeatedly hear from left-leaning people and, in fact, they are correct. They then go on to label these troubles as byproducts of capitalism and use this assumption to argue that capitalism should give way to socialism.

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The Problem Is Not Just Xi Jinping; It Is Communism, by David Flint

Freedom and truth are not compatible with communism, no matter who’s running the show. From David Flint at The Epoch Times via zerohedge.com:

To communists and their ilk, the truth is whatever line the party is now promulgating – that is, until it is superseded by a new line.

This is the theme of George Orwell’s great novel, 1984. The protagonist, Winston Smith, works at the Ministry of Truth, constantly amending historical records to be consistent with whatever is the current party line. In particular, those liquidated are made non-persons, just as though they never existed.

The truth has been packaged precisely this way in Communist China continuously and consistently since 1949, just as it was from the birth to the collapse of the USSR. Accordingly, when Joseph Stalin’s secret police chief, Lavrentiy Pavlovich Beria, was executed by his successors, subscribers to the Great Soviet Encyclopaedia would receive instructions to replace pages eulogising Beria with additional material on the Behring Sea. Beria was made a non-person.

But the fact is that the enemy of each and every communist regime is truth itself, as are the other values and principles of civilised society, especially the proposition at the very core of the Declaration of Independence. This is not just American. According to Winston Churchill, following the Magna Carta and the English Bill of Rights, the Declaration is the third great title deed on which the liberties of the English-speaking people, the core of the West, are founded.

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How the Great Reset Was First Thought Up by the Original Proselytizer of Totalitarianism and the Father of Neo-Conservatism, by Cynthia Chung

The second part (Part One link) of Cynthia Chung’s history of a man too few people know about: James Burnham. George Orwell wrote “1984” in part as a response to his book, “The Managerial Revolution.” From Cynthia Chung at strategic-culture.org:

Burnham describes how it is necessary that the masses believe the revolution to be beneficial to them, when in reality it is just to transition from one ruling class to the other.

[James Burnham is] the real intellectual founder of the neoconservative movement and the original proselytizer, in America, of the theory of ‘totalitarianism.’

– Christopher Hitchens, “For the Sake of Argument: Essay and Minority Reports

In the first part of this two part series, I went over how the roots for the World Economic Forum’s Great Reset can very clearly be traced back to 80 years ago, when an American, former high-level Trotskyist who later went on to become the intellectual founding father of neo-conservatism, James Burnham, wrote a book on his vision for “The Managerial Revolution.” And that it was in fact, these ideologies of Burnham that triggered Orwell to write his “1984”.

From Trotsky’s Permanent Revolution to Global Fascism: Burnham’s Recruitment into Allen Dulles’ OPC

“Burnham was a consultant to OPC on virtually every subject of interest to our organization. … He had extensive contacts in Europe and, by virtue of his Trotskyite background, was something of an authority on domestic and foreign Communist parties and front organizations.”

E. Howard Hunt’s Memoirs (Watergate ‘plumber’ and famous CIA dirty trickster)

It is understandably the source of some confusion as to how a former high level Trotskyist became the founder of the neo-conservative movement; with the Trotskyists calling him a traitor to his kind, and the neo-conservatives describing it as an almost road to Damascus conversion in ideology.

However, the truth of the matter is that it is neither.

That is, James Burnham never changed his beliefs and convictions at any point during his journey through Trotskyism, OSS/CIA intelligence to neo-conservatism, although he may have back-stabbed many along the way, and this two-part series will go through why this is the case.

As I discussed in part one, Burnham had by May 21, 1940 officially resigned from the “‘philosophy of Marxism,’ dialectical materialism,” and by 1941 achieved fame and fortune with his book “The Managerial Revolution.

Burnham, made clear in this book, that he was not only very ready to accept the outcome of a victorious Nazi Germany (this was his conclusion at the time), but that this was both a natural and an inevitable course that the entire world would have no choice but to follow. Burnham made no qualms that Nazi Germany was considered by himself as the most superior form of his concept of a “managerial society.”

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An Outline of Post-Western Civilization, by Paul Rosenberg

When you get rid of the best parts of the generations that proceeded yours, it’s not generally an improvement. From Paul Rosenberg at freemansperspective.com:

Western civilization is over. It may live on in some of us, but at the public level it has been replaced. Every major institution has thrown in with the new civilization.

The question facing us, then, is what this new civilization is like. And so, with the usual caveats, here are the essential components of the new boss, Post-Western civilization:

Governance: Democracy may remain as a sort of talisman, but fewer and fewer changes of power will be forthcoming. Already Europe is controlled by unelected apparatchiks and the United States is ruled by executive order. (Canada has perhaps been worse and Australia has very definitely been worse.) Resistance has been minimal. Public information has been censored and police forces have been willing to enforce almost anything.

Commerce: Stakeholders (giant corporations, states and a few others) have taken control. Small businesses have been destroyed en masse and the middle class has been hollowed out. Commerce and state are no longer separated.

Debt: Debt would normally be considered part of commerce, but over the past two decades, it has been universally available and Westerners have used it to maintain an illusion of prosperity. This left them unable to resist a usurping civilization. To put it simply, Westerners have been silenced by a variant of Coach Lombardi’s dictum: Debt makes cowards of us all.

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The Great Reset: How a ‘Managerial Revolution’ Was Plotted 80 Years Ago by a Trotskyist-turned-CIA Neocon, by Cynthia Chung

James Burnham may be one of those names you’ve heard but don’t really have much of an idea who he was. He’s an important intellectual figure, in the same way Karl Marx is. From Cynthia Chung at strategic-culture.org:

The roots of the Great Reset agenda can very clearly be traced back to 80 years ago, when James Burnham, wrote a book on his vision for “The Managerial Revolution,” Cynthia Chung writes.

Klaus Schwab, the architect of the World Economic Forum (f. 1971), a leading, if not the leading, influencer and funder for what will set the course for world economic policy outside of government, has been the cause of much concern and suspicion since his announcement of “The Great Reset” agenda at the 50th annual meeting of the WEF in June 2020.

The Great Reset initiative is a somewhat vague call for the need for global stakeholders to coordinate a simultaneous “management” of the effects of COVID-19 on the global economy, which they have eerily named as “pandenomics.” This, we are told will be the new normal, the new reality that we will have to adjust ourselves to for the foreseeable future.

It should be known that at nearly its inception, the World Economic Forum had aligned itself with the Club of Rome, a think tank with an elite membership, founded in 1968, to address the problems of mankind. It was concluded by the Club of Rome in their extremely influential “Limits to Growth,” published in 1972, that such problems could not be solved on their own terms and that all were interrelated. In 1991, Club of Rome co-founder Sir Alexander King stated in the “The First Global Revolution” (an assessment of the first 30 years of the Club of Rome) that:

“In searching for a common enemy against whom we can unite, we came up with the idea that pollution, the threat of global warming, water shortages, famine and the like, would fit the bill. In their totality and their interactions these phenomena do constitute a common threat which must be confronted by everyone together. But in designating these dangers as the enemy, we fall into the trap, which we have already warned readers about, namely mistaking symptoms for causes. All these dangers are caused by human intervention in natural processes, and it is only through changed attitudes and behaviour that they can be overcome. The real enemy then is humanity itself.[emphasis added]

It is no surprise that with such a conclusion, part of the solution prescribed was the need for population control.

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Green Is The New Red: The Terrifying Agenda Behind Climate Alarmism, by John Eidson

Scratch a liberal environmental and they bleed communist red. From John Eidson at bluestateconservative.com:

Twelve years ago, a climate research cheating scandal known as “Climategate 2009” rocked the scientific world to the core. Hacked emails among highly influential scientists at the center of worldwide hysteria over climate change revealed routine data tampering and other instances of flagrant scientific misconduct. Although the scientists implicated denied wrong-doing, emails hacked from computers at their employer, the Climatic Research Unit at the University of East Anglia, revealed a consistent pattern of climate data manipulation, conspiracies to falsify data and withhold findings that cast serious doubt on man-made global warming theory, to exaggerate the existence and threats posed by global warming, and to obstruct contrary research from appearing in scholarly publications. Aided and abetted by a complicit western media establishment, the climate crisis industry dismissed the scandal as much ado about nothing and continued beating the drums of climate hysteria as if nothing had happened.

The Climategate cheating scandal exposed man-made global warming theory for what it is: the most brazen scientific hoax in human history, an international collusion to destroy capitalism in the world’s largest capitalist nation to pave the way for that nation’s sovereignty being handed over to a global governing authority run by the United Nations.

That is a serious charge on my part, so please allow me to justify it by citing the words of two high profile UN climate officials in the thick of the effort to strip away America’s sovereignty.

Costa Rican communist Christiana Figueres served as Executive Secretary of the UN’s Framework Convention on Climate Change from 2010-16. In a frank admission that laid bare the stealth agenda behind climate alarmism, Figueres said during a February 2015 press conference in Brussels that the UN’s real purpose in promoting climate fear is to kill off capitalism throughout the world:

“This is the first time in human history that we are setting ourselves the task of intentionally changing [getting rid of] the economic development model that has reigned since the Industrial Revolution”.

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The Smart Money Has Already Sold, by Charles Hugh Smith

A crash is way past due. From Charles Hugh Smith at oftwominds.com:

Generations of punters have learned the hard way that their unwary greed is the tool the ‘Smart Money’ uses to separate them from their cash and capital.

The game is as old as the stock market: the Smart Money recognizes the top is in, and in order to sell all their shares, they need to recruit bagholders to buy their shares and hold them all the way down. Once the catastrophic losses have been taken by the bagholders, then the Smart Money slowly builds up positions amidst the wreckage.

It’s easy to become a bagholder; all you need is greed. Been there, done that, for the siren songs luring bagholders to their ruin are compelling and numerous. The Smart Money doesn’t have to mislead anyone; all they do is let the strident super-Bulls talk up the riches to be had by all those who buy today and hold indefinitely, and human greed does the rest.

Siren songs to lure the unwary greedy include these classics:

1. The Fed has our back, i.e. the Fed will never let stocks go down, so there’s no risk in buying more shares today.

2. Innovation stocks can only go higher as they create new industries that are the future of the economy.

3. Institutional buyers are coming in, and that means prices can only go higher.

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