Petro-Dollar Recycling

Kissinger’s agreement with OPEC detailed US protection and funding for infrastructure, regime protection, and military assistance for OPEC nations

if they agreed to only receive payment for Oil in dollars. In return, OPEC was to purchase T-bills with a percentage (in 1971 it was 20%) of the dollars

it received from its sale of oil. This cycle, from which the US prints IOU’s which countries need to purchase oil which ultimately return to OPEC and

are kept at the Fed is the concept of the petrodollar – suggesting actual reasons for the Iraq war, and many other critical issues about the mess we’re in today….

Chris Hedges Arrested in Front of Goldman Sachs

Pulitzer Prize winning journalist Chris Hedges made this statement in New York City’s Zuccotti Park,  then joined a march of several hundred protesters to the nearby corporate headquarters of Goldman Sachs, where he was arrested with 16 others….

Photo by David Shankbone (CC-BY)

“Goldman Sachs, which received more subsidies and bailout-related funds than any other investment bank because the Federal Reserve permitted it to become a bank holding company under its “emergency situation,” has used billions in taxpayer money to enrich itself and reward its top executives. It handed its senior employees a staggering $18 billion in 2009, $16 billion in 2010 and $10 billion in 2011 in mega-bonuses. This massive transfer of wealth upwards by the Bush and Obama administrations, now estimated at $13 trillion to $14 trillion, went into the pockets of those who carried out fraud and criminal activity rather than the victims who lost their jobs, their savings and often their homes…”

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Influence & Lobbying…

OpenSecrets.Org

Sector Totals, 2011-2012

Rank Sector Amount Dems Repubs To DEMS To REPUBS
1 Finance/Insur/RealEst $96,615,226 38.4% 54.5% $37,123,437
2 Other $61,159,200 53.3% 42.3%
3 Misc Business $57,249,269 45.7% 47.3%
4 Lawyers & Lobbyists $44,734,352 67.0% 32.5% $29,977,848
5 Health $34,115,418 43.8% 55.4% $14,937,494
6 Communic/Electronics $32,538,333 50.2% 29.4% $16,348,219
7 Ideology/Single-Issue $29,681,275 53.9% 44.9% $15,989,514
8 Energy/Nat Resource $20,558,599 23.0% 76.6% $4,724,622
9 Construction $18,573,247 25.8% 56.4% $4,800,258
10 Labor $15,562,921 75.2% 12.2% $11,700,481
11 Agribusiness $14,113,761 29.2% 69.0% $4,114,354
12 Transportation $13,053,894 26.4% 70.6% $3,445,570
13 Defense $6,805,267 38.3% 61.3% $2,604,170

Revealed – the capitalist network that runs the world

AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters’ worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

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600

The work, to be published in PloS One, revealed a core of 1318 companies with interlocking ownerships (see image). Each of the 1318 had ties to two or more other companies, and on average they were connected to 20. What’s more, although they represented 20 per cent of global operating revenues, the 1318 appeared to collectively own through their shares the majority of the world’s large blue chip and manufacturing firms – the “real” economy – representing a further 60 per cent of global revenues.

When the team further untangled the web of ownership, it found much of it tracked back to a “super-entity” of 147 even more tightly knit companies – all of their ownership was held by other members of the super-entity – that controlled 40 per cent of the total wealth in the network. “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network.”

Why the Occupied Wall Street Movement Scares the Democratic Party

wallst

Some have argued that the Occupy Wall Street Movement has a relationship to the Democratic Party similar to the Tea Party’s relationship to the Republicans. This is wrong on several counts. The Tea Party and its message was cooked up, funded, and molded by corporate interests such as the Koch brothers. It attempted to mobilize people by tapping into their fears of where the country is going while dressing up a corporate political agenda in populist rags. There was never a doubt that this would eventually strengthen the far right in the Republican Party who quickly identified with the Tea Party’s cause.

Relations stand very differently between the Occupy Wall Street Movement and the Democratic Party. This movement has no big Wall Street interests channeling funds into their organizing activities. By targeting economic inequality and injustice brought on by Wall Street’s rule, the movement has placed itself in direct opposition to the largest financial contributors to and policy makers of the Democratic Party. While Democratic Party politicians may mouth support for some of the issues that have united the movement, any measures they can effectively promote will not come close to adequately addressing working peoples real needs…

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Who Are the Top 1 percent?

A highly complex set of laws and exemptions from laws and taxes has been put in place by those in the uppermost reaches of the U.S. financial system. It allows them to protect and increase their wealth and significantly affect the U.S. political and legislative processes. They have real power and real wealth. Ordinary citizens in the bottom 99.9% are largely not aware of these systems, do not understand how they work, are unlikely to participate in them, and have little likelihood of entering the top 0.5%, much less the top 0.1%. Moreover, those at the very top have no incentive whatsoever for revealing or changing the rules…

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Should Politicians Wear uniforms like NASCAR drivers to Identify their coprorate Sponsors?

Ratio of Pay - CEO: Avg. Worker
Ratio of Pay - CEO: Avg. Worker

Get Involved & Know Your Rights

Time is running out….

The structure of the control network of transnational corporations affects global market competition and financial stability. So far, only small national samples were studied and there was no appropriate methodology to assess control globally. A recent Cornell University study presents the first investigation of the architecture of the international ownership network, along with the computation of the control held by each global player. They found that transnational corporations form a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions.

This core can be seen as an economic “super-entity” that raises new important issues both for researchers and policy makers….

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