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The Octopus


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I took this from http://azizonomics.com/ while doing my reading of worldly topics.

It’s long been clear to some of us in the financial kingdom that a small clique of powerful companies control vast swathes of the global economy.
Now that mythos has been given some scientific credibility.
From New Scientist:


The idea that a few bankers co
nt
rol a large chunk of the gl
ob
al economy might n
ot
seem like news to New York’s
moveme
nt
and pr
ot
esters elsewhere (
ot
). But the study, by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically ide
nt
ify such a network of power. It combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world’s transnational corporation.

The work, to be published in
PloS One
, revealed a core of 1318 companies with i
nt
erlocking ownerships (see image). Each of the 1318 had ties to two or more
ot
her companies, and on average they were connected to 20. What’s more, although they represe
nt
ed 20 per ce
nt
of gl
ob
al 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 – represe
nt
ing a further 60 per ce
nt
of gl
ob
al revenues.

When the team further u
nt
angled the web of ownership, it found much of it tracked back to a “super-e
nt
ity” of 147 even more tightly knit companies – all of their ownership was held by
ot
her members of the super-e
nt
ity – that co
nt
rolled 40 per ce
nt
of the t
ot
al wealth in the network. “In effect, less than 1 per ce
nt
of the companies were able to co
nt
rol 40 per ce
nt
of the e
nt
ire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.

As the world learned in 2008,
.


Or, as I put it this week:

One thing is clear:

A huge mou
nt
ain of i
nt
erlocking, i
nt
erconnected debt is a house of cards, and a monetary or financial system based upon such a thing is prone to collapse by
: one weak link in the chain breaks down the e
nt
ire system.

house-of-cards.jpg?w=322&h=400&h=400



A cartoon from 1912 (one year before the Federal Reserve System was set up).

fed-octopus.jpg

God bless,

Larry
Edited by pilgrim1938
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Of course everything is controlled by a few. Even in this country, the few get favors constantly from our congressmen, & the few are good at giving our congressmen favors in return. Its called politics. Political favors. And the big men with a much to spend are the ones who get the favors. And its not going to change.

I'm very happy, this is not my home, I'm a sojourner, just passing through, looking for that wonderful Promise, that I have from God thru Jesus my Savior.

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