Home » Posts tagged 'wealth transfer'

Tag Archives: wealth transfer

Olduvai
Click on image to purchase

Olduvai III: Catacylsm
Click on image to purchase

Post categories

Post Archives by Category

Net-Zero Policies: Taking From the Poor and Giving to the Rich

Net-Zero Policies: Taking From the Poor and Giving to the Rich

It is too often overlooked in all the discussions about the “transition” to a net-zero emissions economy that the most consequential transition is that from democratic capitalism to feudal serfdom.

This is the conclusion of American demographer and “blue-collar Democrat” Joel Kotkin, who has highlighted that the supposedly well-intentioned green policies being adopted across the West come at enormous expense to the working- and middle-classes.

As Kotkin wrote in ‘Spiked’ earlier this year, “extreme climate measures have driven the loss of traditional blue-collar jobs in manufacturing, construction and energy, while other environmental regulations have boosted housing prices.”

Kotkin’s thesis is that the West is on the road to serfdom. Rather than maintaining our capitalist societies where a large, asset-owning middle-class underpin a stable democratic system, we are becoming stratified feudal societies.

Home and small business ownership are declining, especially among the young and the less well-off, a group of technocratic elites are establishing themselves as permanent rulers in the apparatus of the administrative state, and corporate oligarchs are coming to dominate both the economy and broader society.

Epoch Times Photo
People view artist Luke Jerram’s new ‘Floating Earth’ Debuts In Wigan, England, on Nov. 18, 2021. (Christopher Furlong/Getty Images)

This transition has been occurring for some time, but it has been accelerated by the COVID-19-inspired lockdowns and the zeal with which Western governments have thoughtlessly adopted net-zero emissions targets.

Both play out as an aggressive form of reverse Robin Hood asset stripping, taking from the poor and giving to the rich.

Australia is now officially committed to a net-zero emissions by 2050 target.

…click on the above link to read the rest of the article…

Here is The Hidden $150 Trillion Agenda Behind The “Crusade” Against Climate Change

Here is The Hidden $150 Trillion Agenda Behind The “Crusade” Against Climate Change

We now live in a world, where bizarro headlines such as the ones below, have become a daily if not hourly occurrence:

  • *TREASURY TO STUDY IMPACT OF CLIMATE ON HOUSEHOLDS, COMMUNITIES
  • *TREASURY LAUNCHES EFFORT ON CLIMATE-RELATED FINANCIAL RISKS
  • *BRAINARD: CLIMATE-SCENARIO ANALYSIS WILL HELP IDENTIFY RISKS
  • *BRAINARD: CLIMATE CHANGE COULD HAVE PROFOUND ECONOMIC EFFECTS
  • *MESTER: FED LOOKS AT CLIMATE CHANGE FROM VIEW OF RISKS TO BANKS
  • *FED IS TAKING THE RIGHT COURSE ON MONITORING CLIMATE CHANGE
  • *FED SHOULD CONSIDER CLIMATE-CHANGE RISK TO FINANCIAL SYSTEM

Now, in case someone is still confused, none of these institutions, and not a single of the erudite officials running them, give a rat’s ass about the climate, about climate change risks, or about the fate of future generations of Americans (and certainly not about the rising water level sweeping away their massive waterfront mansions): if they did, total US debt and underfunded liabilities wouldn’t be just shy of $160 trillion.

So what is going on, and why is it that virtually every topic these days has to do with climate change, “net zero”, green energy and ESG?

The reason – as one would correctly suspect – is money. Some $150 trillion of it.

Earlier today, Bank of America published one of its massive “Thematic Research” tomes, this time covering the “Transwarming” World, and serves as a massive primer to today’s Net Zero reality. The report (which is available to all ZH pro subs) is actually a must read, interesting, chock-full of data and charts such as these…

… and handy cheat sheets…

…click on the above link to read the rest of the article…

The Age of Exterminations: Who Will be Next Victims? 

The Age of Exterminations: Who Will be Next Victims?

Detail from the book, “England’s grievance discovered…” by Ralph Gardiner, 1655. Note, on the right, the scene described in the text as, “Witchfinder takes his money for his work.” The book was written when the witch-hunting age was already in decline and it emphasized how killing witches was good business for the hunters.

If you think of the story of the witch hunts of the 16th-17th century in Europe, you may be under the impression that the typical witch was an old hag living in a hut at the margins of the village, alone with a black cat.

But no, that wasn’t the case. Maybe this kind of marginal people were occasionally killed for being witches, but they were not the usual victims. In reality, witch hunting had a strong monetary component and it was often carried out with a view on making a profit on the confiscation of the assets of the victims. They were not poor and destitute women but, rather, members of the growing mercantile class in Europe.

The profit-making facet of witch hunting has been often ignored by historians, but it is being reappraised and highlighted in recent times, for instance by Johannes Dillinger (2021) and by Shmakov and Petrov (2018). Both articles are highly suggested and provide a remarkable wealth of data about the financial mechanism that led to witch hunts: in short, there was no (or very little) witch hunting where the government didn’t allow the assets of the victims to be confiscated. Killing witches, then, was just one of the many forms of legalized robbery in history,

…click on the above link to read the rest of the article…

The Next Economic Crisis – Will Your Wealth Survive?

The Next Economic Crisis – Will Your Wealth Survive?

The greatest wealth transfer in history has already begun and the next crisis will only accelerate the process. As the printing presses continue cranking out more and more money, looking forward to a time when the markets pause or another economic crisis consumes the world is an issue we all should think about. How much wealth will escape the next large financial reset is very important because it will set the bar that determines the rate of inflation or deflation in coming years. If you believe we did not solve many of our financial problems after 2008 but merely masked them with a huge amount of newly printed money you are likely to embrace this concept.

The Shell Game Of Wealth Transfer

Much like a shell game where wealth is transferred about, in our modern society wealth is always on the move. Wealth and how things are valued is far from constant, it is fungible and constantly changing. While we may try to deny it, wealth is in a constant state of flux and constantly moving. Wealth comes in many forms, it can be held in the form of paper, promises, or as something more tangible and real such as property or goods.

Some items such as a tool hold “utility value” and its value may be based on how much work it can perform or the revenue it can produce. Replacement cost, supply and demand, and factors such as whether something can spoil or might grow obsolete over time also help determine its value as a place wealth can be safely stored. The term, safely stored in this case also includes placing it out of the reach of governments’ ability to tax it or make it illegal to own.
…click on the above link to read the rest of the article…

2020 Is The Year The Unseen Becomes Seen

2020 Is The Year The Unseen Becomes Seen

2020 is the year of Julian Assange’s extradition trials, the Kafkaesque proceedings by which the US government is attempting to imprison the WikiLeaks founder for the rest of his life as punishment for exposing US war crimes. Assange started an innovative leak publishing outlet on the premise that corrupt power can be fought with truth, and corrupt power responded by silencing and jailing him. They’ve proved him right about everything, right in front of everyone.

2020 is the year people began protesting police brutality, and police responded with ferocious and widespread acts of brutality. The massive deluge of video footage from these brutal police responses went viral all over the world. The argument about police brutality culture in the US police state was won clearly and decisively, right in front of everyone.

2020 is the year the most powerful government on earth responded to a pandemic virus with the largest upward transfer of wealth in history, leaving massive global corporations with record-high stocks while killing small businesses and throwing the rank-and-file public to the wolves after handing some of them a paltry $1200, all while failing spectacularly to address the threat of the virus itself. This financial abuse is happening right out in the open, right in front of everyone.

2020 is the year this same government’s electoral process is being exposed in front of everyone for the sham it has always been, as two corrupt racist right-wing warmongering dementia patients who’ve both been accused of rape are placed head-to-head in what will inevitably be the single dumbest presidential race in the nation’s history. Neither of these two men are capable of forming a coherent sentence, and their presidential debates will make them a laughing stock of the whole world, right in front of everybody.

…click on the above link to read the rest of the article…

Inflation v Deflation–State Finances

There is a general belief, and that is all it is, that state finances fare better in an inflationary environment than a deflationary one. This perception arises from the transfer of wealth from lenders to the state through a devaluation of the currency, which occurs with monetary inflation, compared with the transfer of wealth from the state to its creditors through deflation. The effect is undoubtedly true, even though it is played down by governments, but it ignores what happens to continuing government obligations and finances.

This article looks at this aspect of government finances in the longer term, first on the route to eventual currency collapse which governments create for themselves by ensuring a continuing devaluation of their currencies, and then in a sound money environment with a positive outcome, for which there is good precedent. This is the second article exposing the fallacies of supposed advantages of inflation over deflation, the first being posted here.

Inflationary policies

While central bankers have convinced themselves, in defiance of normal human behaviour, that consumption is only stimulated by the prospect of higher prices, there can be little doubt that the unmentioned sub-text is the supposed benefits to borrowers in industry and for government itself. Furthermore, the purpose of gaining control over interest rates from free markets is to reduce the general level of interest rates paid to lenders, further robbing them of the benefits of making their capital available to willing borrowers.

All this is in defiance of the principles behind contract law, but the courts do not accept that the unbacked state-issued currency of today is no different from the gold-backed money of yesteryear, nor the same as tomorrow’s further debased currency. Tax on interest is an added distortion, reducing net interest received by holders of depreciating currency even more.

…click on the above link to read the rest of the article…

It’s time to call the housing crisis what it really is: the largest transfer of wealth in living memory

Image: Images Money, CC BY 2.0

One of the basic claims of capitalism is that people are rewarded in line with their effort and productivity. Another is that the economy is not a zero sum game. The beauty of a capitalist economy, we are told, is that people who work hard can get rich without making others poorer.

But how does this stack up in modern Britain, the birthplace of capitalism and many of its early theorists? Last week, the Office for National Statistics (ONS) released new data tracking how wealth has evolved over time. On paper, the UK has indeed become much wealthier in recent decades. Net wealth has more than tripled since 1995, increasing by over £7 trillion. This is equivalent to an average increase of nearly £100,000 per person. Impressive stuff. But where has all this wealth come from, and who has it benefitted?

Just over £5 trillion, or three quarters of the total increase, is accounted for by increase in the value of dwellings – another name for the UK housing stock. The Office for National Statistics explains that this is “largely due to increases in house prices rather than a change in the volume of dwellings.” This alone is not particularly surprising. We are forever told about the importance of ‘getting a foot on the property ladder’. The housing market has long been viewed as a perennial source of wealth.

But the price of a property is made up of two distinct components: the price of the building itself, and the price of the land that the structure is built upon. This year the ONS has separated out these two components for the first time, and the results are quite astounding.

…click on the above link to read the rest of the article…

The Coming Great Wealth Transfer

WakingTimes.com

The Coming Great Wealth Transfer

Spoiler alert! It’s already here.

In the past, I’ve warned about the coming Great Wealth Transfer.  But now we need to talk about it in the present tense, because it’s here.

And it will only accelerate from here on out. The Rich will get richer at the expense of everybody else.

This isn’t personal. It’s simply a feature of what happens near the end of a debt-based monetary system run by corruptible humans.

Of course, those in charge don’t think of themselves as corrupted or villainous. I’m sure that Federal Reserve Chairs Greenspan, Bernanke and Yellen all think of themselves as good and decent people doing “God’s work”. But the truth is they’ve irrevocably harmed millions — if not billions — of innocent people.

They and other central bankers have become the standard bearers of a system that can best be described as a reverse Robin Hood scheme, one that takes from the poor and gives to the Rich. It’s just that in this tale, the ‘poor’ means everybody not in the top 1%.

So you need to understand this wealth transfer process — how it works, who’s perpetrating it, and what dangers to watch for. If not, you’ll be a victim of it. And you’ll probably live in confusion and shock by how hard just ‘getting by’ becomes going forward.

Realizing that you’re being specifically targeted by a system determined to separate you from your wealth is the essential first step towards figuring out how to evade the predators and protect yourself.

The Great Wealth Transfer

What do we mean by a Wealth Transfer?

It isn’t just some academic concept. It’s a playbook that’s been used many times in the past by governments to forcibly extract wealth from the public and use it for the benefit of those in power.

…click on the above link to read the rest of the article…

Introduction: Bank-Money

Introduction: Bank-Money

‘BANK ROBBERY’ is not a book about how to rob a bank: it’s about how banks rob us. The title sounds a bit sensationalist: perhaps people think it’s not meant to be taken too seriously. Banks don’t actually rob us, surely: they provide a service – even if they do charge too much, and behave badly when they think they can get away with it.

But actually, the title is to be taken literally. Robbery means ‘theft backed up by violence, or by threat of violence’. The theft in banking is that banks create money out of nothing for the use of themselves and selected others: the overall effect of this is a continual transfer of assets from the rest of us to governments and a financial elite. The violence, or threat of violence, is what the state may use, to back up the rule of law: in this case, to enforce the laws that allow banks to create money.

It’s obvious to most people that if there is to be a functioning rule of law, the State must be able to use force when necessary to back it up. So it’s our responsibility, as citizens and voters, to make sure that the laws are just. In the West, we tend to assume that if an unjust law does exist it will soon be changed, because public opinion will not put up with it.

There have been many unjust laws in our history: the Corn Laws, laws supporting the slave trade, laws about who is entitled to vote, laws about the property rights of married women are a few examples. Many of these unjust laws lasted for generations before they were changed or repealed.

…click on the above link to read the rest of the article…

Japan Central Bank Throws Granny Under The Bus | Peak Prosperity

Japan Central Bank Throws Granny Under The Bus | Peak Prosperity.

This one was so good, we’re making it public!

In this week’s Off the Cuff podcast, Chris and Mish Shedlock discuss:

  • The expected but shocking Japanese central bank decision
  • Increasing central bank desperation
  • How central banks transfer wealth from the masses to the few
  • The impact on gold and silver prices

Summary:  In this podcast Chris and Mish let their guard down and say a few choice words about the actions of central banks that obviously and seriously harm average people all in the service of assuring that banks and governments can continue to operate as they have in the past.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
In progress...

Olduvai II: Exodus
Click on image to purchase

Click on image to purchase @ FriesenPress