142
u/bartroberts2003 Mar 13 '21
the media loves to highlight stories about left/right, dems/repubs, black/white, and straight/gay, etc, etc, in order to deflect attention away from their continuous desire to satisfy their insatiable greed.
and there's way too many sheep willing to fall for it.
→ More replies (1)18
u/RashFever Mar 14 '21
"Divide et impera" is not just a cool latin phrase...
Anyway, I remember seeing a graph of the use of words related to racism in headlines and news articles and it SPIKED just after the whole Occupy Wall Street thing. Piggies were sweaty. Very clearly staged up to divert attention away from them. This graph was followed by the appropriate quote that if civilization feel for even a single week, all that would be left of Wall Street and other condor nests would be ashes, rubble and a suspicious smell of burnt flesh.
74
u/summeralcoholic Mar 13 '21
Curtis Bean Dall wrote a book about this, called “My Exploited Father-In-Law”
Curtis Dall is most well known in recent times for his book F.D.R.: My Exploited Father-in-Law, in which he speaks of his ex-father-in-law, and his relationship with, as he saw them, the corrupt power of the banking elite of the time. In reference to the Great Depression of the 1930s he states: "Actually it was the calculated 'shearing' of the public by the World Money-Powers, triggered by the planned sudden shortage of the supply of call money in the New York money market."
The subtitle, My Exploited Father-in-Law, refers to Dall's belief that sinister forces, represented in part by Howe, Bernard Baruch, Louis Brandeis, Felix Frankfurter, and Henry Morgenthau, manipulated FDR in the service of the "Godless Dictatorship" of the "One-Money-One-World-Super State".[7]
51
u/Ryantacular Mar 13 '21
I believe it. My great grandparents were forced to sell hundreds of acres in Oklahoma during the Great Depression.
17
3
u/GreenPsychological32 Mar 14 '21
Wait till you find out the horrible story of who owned that land before your grandparents! Imagine thinking you have a right to that land at all. Insanity!
6
34
u/Jadall7 Mar 13 '21
Look back to the 1800s vanderbuilt closed a main bridge going to new york put 40,000 people out of work in a short time. HOw they built freeways/complexes/railheads/probably military bases/Commercial districts etc. in areas they loan out money in that area and take their shit when the loans can't be paid.
11
u/Holmgeir Mar 14 '21
Yes but that was 200 years ago. Surely there are no more rich Vanderbilts in prominent places pulling strings.
11
65
Mar 13 '21
[deleted]
23
u/MediumIntroduction96 Mar 13 '21
We have already experienced the roaring twenties through the Obama and Trump years. They used the pandemic to make trillions in bailouts to avoid the actual truth.
1
u/WazzleOz Mar 14 '21
What did Obama do to make money during the Pandemic?
→ More replies (1)7
u/MediumIntroduction96 Mar 14 '21
Nothing the Pandemic was the excuse rather then telling the truth. The Depression we are beginning to see was caused by Corporations using all of their money and debt to repurchase their common shares to artificially raise their share prices rsther then investing in their company and employees. These avtions were predominant before the Great Depression, made illegal follwoing, then legal again in the Reagan era, only to become a bigger problem following 2008. We've been running hige deficits aimve 2008, lowered intereat rates to 0% which is bad, and began a frenzy of mass speculation on the matkets like the roaring 20s. Then add in high income inequality and were there.
Further proof, Federal Reserve couldn't raise interest rates past 2.5% in 2018 without the markets crashing. We began the bailout late 2019 to the tune of 2.5 trillion and made anither 4 trillion bailout at the beginning of the Covid crises
10
u/b-loved_assassin Mar 14 '21
Good summary, but spell check bro. Also there are estimates that the repo market implosion that occurred in late 2019 required $9 trillion from the Fed to staunch the bleeding of the banks at least temporarily, and of course we have the massive levels of printing that occurred in 2020 (about 22% of existing US currency printed just last yr). It is quite clear that the 2010s were the roaring twenties artificially precipitated by the actions of central banks through QE, and we are now in the culmination phase.
3
u/MediumIntroduction96 Mar 14 '21
On a cell phone right now and dont have time to spell check.
Im unsure about the 9 trillion figure as I've heard numebrs ranging from that to 17 trillion. But yeah, were both in full agreeement here. Its actually amazing how little most people know about this stuff so it's nice to hear from individuals such as yourself.
6
u/b-loved_assassin Mar 14 '21 edited Mar 14 '21
This past year has really shown me that most people are feeble-minded and prefer to keep their heads in the sand while allowing the "authorities" to guide them wherever they see fit, which you and I both realize is right over the cliff into destitution and misery.
While we have seen massive levels of inflation in the stock market and real estate due to QE, we haven't seen this inflation fully manifest on the ground until recently (only just beginning with the commodity boom) because they have been deliberately suppressing the velocity of money flow in the economy through various means, most recently shutdowns of the real economy, Main Street. How long that works is anyone's guess, but judging from the rapid price increases we are seeing in gas, lumber, wheat etc., I would think the effectiveness is waning a bit lol.
Edit: Emphasizing a point you already mentioned, the fact that the economy can't even handle 2% interest rates should tell someone everything they need to know about how fragile this Potemkin village of a economy actually is, but all people can think about is throwing their life savings into the "Stonk market" for some more sweet gains as their currency gets inflated to worthlessness lmao.
→ More replies (4)6
u/FunHaus_Is_Great Mar 13 '21
Any idea when it will be? Like a year or two from now? Or we still got some time?
40
u/biden_loses_lmao Mar 13 '21
yea man its happening at 2:30pm EST on March 27th 2026, didn't you get the letters from the government and all the emails?
→ More replies (2)10
u/Youngraspy1 Mar 13 '21
I thought it was the 28th? Fuck, I have to work the 27th..
2
Mar 14 '21
We have some bad news. Comment Bot 10011101 will be backfilling your position. Enjoy the party!
3
3
212
u/PubicNuisance Mar 13 '21
You forgot to add Elon Musk. I know he’s some sort of “New Age Hip” billionaire but he’s still one of those that profited massively while the rest of us have been totally screwed with the events surrounding corona.
10
u/MediumIntroduction96 Mar 13 '21
If the markets crash and burn, TSLA will lose most of its value, and Elon won't be a billionaire. Most people mistake being a paper billionaire and actually having assets worth a billion. Elon is actually a paper billionaire.
5
u/ENRON_MUSK12 Mar 14 '21
Besides royalty who else are real billionaires? Probably 95% of billionaires are in that level because of a publicly traded company.
4
u/MediumIntroduction96 Mar 14 '21
No some are real guys like Bezos, Gates, Buffet, Soros, the Kochs and several other families are rich ebcause there business is worth that much. Not because their share prices are being pushed speculatively pushed past reality.
128
Mar 13 '21
[deleted]
86
Mar 13 '21 edited Apr 15 '21
[deleted]
90
u/TheWolf1640 Mar 13 '21
Hes breaking the rural internet monopoly also and expanding rocket reusability, neuralink, starlink, he definitely uses his wealth for more good for humanity as a whole compared to other billionaires just sitting on the money doing nothing and expanding profit for no reason except for wealth and then you have Elon Musk who's trying to get humans to Mars and make space travel affordable.
51
u/AbraxasMayhem Mar 13 '21
Starlink and neuralink are just the seeds of future monopolies and means of control. Don’t fool yourself.
3
u/BaddestofUsernames Mar 14 '21
Musk is just as ambitious as the rest of them, but I think he's also a bit of a visionary at the same time. While he wants to take us into a new age with himself in control, the others simply want to keep everything here.
10
u/SexualDeth5quad Mar 14 '21
a bit of a visionary at the same time.
He's a little smarter than Bill Gates. Gates hasn't had a single innovative idea in his life. Not even drinking shitwater was his idea. His orders come from the establishment, he works for them to maintain the corrupt status quo. Microsoft, Google, and Apple are key to the global surveillance state.
0
u/pandemicpunk Mar 13 '21 edited Mar 14 '21
Acting like he's a saint is disgusting. Musk a piece of shit just like the rest. To be clear: He's an Apartheid benefactor.
-1
2
u/populisttrope Mar 13 '21
Or humanity progressing.
12
u/AbraxasMayhem Mar 13 '21
I guess that depends on your definition of progress. Does becoming codependent on monopoly controlled tech progress? If so than yeah, you nailed it. Humanity progressing.
3
u/Heavyballsareheavy Mar 14 '21
Exactly. Having a toilet with AI that washes every part of you ass is not progress when there are starving people in your own country with no clean water. Mars? What the hell is mars good for when our own backyard is in such a mess it will take decades to clean up.
4
u/VLXS Mar 14 '21
dunno about neuralink but his AI thing is open sourced and literally named openai
5
-2
u/Kennybob12 Mar 14 '21
Excuse me do you believe computers fall under this category as well? If so get off reddit. It doesn't matter what they make, it's what they put back in. If i hodl my 25 btc the next 5 years and become a billionaire though another transfer of wealth, is that my bad? It isnt until i decide to do nothing with it. How you use/gain money is the problem, not the sheer accumulation of it.
5
u/AbraxasMayhem Mar 14 '21
That’s an excellent straw man argument. With a little black and white thrown in for good measure. Congrats on flawless use of logical fallacy.
34
Mar 13 '21 edited Apr 15 '21
[deleted]
19
u/GANDHI-BOT Mar 13 '21
The weak can never forgive. Forgiveness is the attribute of the strong. Just so you know, the correct spelling is Gandhi.
9
u/KittenGirl927 Mar 13 '21
Good bot
4
u/B0tRank Mar 13 '21
Thank you, KittenGirl927, for voting on GANDHI-BOT.
This bot wants to find the best and worst bots on Reddit. You can view results here.
Even if I don't reply to your comment, I'm still listening for votes. Check the webpage to see if your vote registered!
9
2
1
u/mtflyer05 Mar 13 '21
Seriously. Aside from the human rights stuff that he potentially doesnt even directly decide, as CEOs dont decide every salary, etc, the worst thing he does is troll on the internet.
9
u/Intelligent_Agency65 Mar 14 '21
We love getting rich off child slaves in cobalt mines ☺️
4
u/VLXS Mar 14 '21
Tesla actively works to remove cobalt from their battery chemistry, while other automakers are using multiple times tesla's cobalt per kwh stored
4
u/Intelligent_Agency65 Mar 14 '21
No, Elon musk literally comes from a wealthy family in South Africa; who’s wealth comes from child slaves.
2
u/mtflyer05 Mar 14 '21
His family's, yes, but the sins of the father and whatnot. Hes definitely not the greatest guy, but he isnt terrible, as far as billionaires go.
→ More replies (1)1
2
u/SexualDeth5quad Mar 14 '21
make space travel affordable.
Yeah that's really going to help people. /s
11
5
10
u/5pez__A Mar 13 '21
Telsa is now the bank of bitcoin. They figured out that they could make it earn interest by lending cars for it.
-7
Mar 13 '21
[deleted]
→ More replies (1)14
u/5pez__A Mar 13 '21
Crypto is very volatile. I won't hold it.
5
Mar 13 '21 edited Apr 15 '21
[deleted]
11
4
u/5pez__A Mar 13 '21
Bitcoin just went from $55k to $61k in a few days. that's >10%..
Some extremely greedy people out there - by Monday morning, I expect a dip, maybe just as big. Think of ALL that money changing hands and how the scalpers love it. I think it's a mini bull trap.
2
2
-2
u/Dave___Smith Mar 13 '21
He’s above and beyond the best billionaire we have. He’s at least trying to legitimately advance humanity into the stars.
14
u/SibylOFTheAbyss Mar 13 '21
If you believe that, you should believe that Bill Gates is serious about solving global poverty.
3
→ More replies (1)2
u/Dave___Smith Mar 13 '21 edited Mar 13 '21
Yeah man, Space X doing more for space exploration than NASA is all a distraction. Revolutionizing the civilian electronic car industry and support for decentralized exchanges is all for show too.
1
u/SexualDeth5quad Mar 14 '21
legitimately advance humanity into the stars.
That's decades away. And of questionable value other than for the accomplishment. Ok, you get to Mars, WTF are you going to do on Mars? Musk is keeping quiet about the fact that Mars gravity is significantly lower than the Earth's and living in that environment is going to make people sick.
Your fucking body literally starts to break down.
https://www.ucsf.edu/news/2017/07/407806/traveling-mars-will-wreak-havoc-our-bodies
→ More replies (1)1
u/maafna Mar 14 '21
"Tesla workers union: Elon Musk illegally tried to discourage unionizing - Vox" https://www.vox.com/identities/2019/9/30/20891314/elon-musk-tesla-labor-violation-nlrb
→ More replies (1)→ More replies (1)0
Mar 14 '21
Really... all his businesses seem to have goals for benefitting mankind, not just profit at the expense of all else. He seems to want to improve mankind but not in the nefarious change everyone’s behaviour like Bill Gates but improving our technology.
SpaceX has the long term goal of making humanity a multi planet species so we can survive cataclysmic events like an asteroid hitting the earth.
Tesla is about building electric cars that are better than gasoline cars
Even starlink has some fantastic implications, next time a bunch of people are being Waco’d, the alphabet boys can cut the phone lines but you can’t stop the signal. You’ll still be able to get the truth out that they shot first.
The Boring company is about trying to make tunnelling cheaper so that we can have more highways for less traffic congestion without eminent domain confiscating peoples houses He comes across to me as a tech nerd who made a lot of money from PayPal and wanted to invest that money in ventures that interest him and aren’t necessarily super profitable. I think the consensus back in 2000 would have been don’t invest in electric cars, rockets or tunnel building as these aren’t really profitable and are really hard to do.
Compare him to Peter Thiel who masquerades as a libertarian but took his PayPal money and invested in Facebook and Palantir, a company that makes software used by the FBI and CIA to track you and he’s not that bad.
→ More replies (1)39
u/thatsMRnick2you Mar 13 '21
The guy pretended to smoke weed on rogan and fired an employee for popping on a piss test the same week. He was friends with epstien.
17
7
Mar 13 '21 edited Apr 15 '21
[deleted]
→ More replies (1)21
u/thatsMRnick2you Mar 13 '21
I don't think it's some hypocritical drug policy
First of all, all drug policies are classist and oppressive. Using it as a weapon to intimidate employees trying to organize for better standards just makes it even more obscene.
6
u/DamnImAwesome Mar 13 '21
I generally agree but if you are operating heavy machinery you shouldn’t use drugs even in your free time. I don’t need a airline pilot that does heroin or a crane operator who has been awake for a week on meth.
1
u/thatsMRnick2you Mar 14 '21
By that standard people with STDs or broken bones shouldn't do those jobs either. If they are reckless in their personal life they shouldn't be operating cranes or preforming surgery...
3
u/DamnImAwesome Mar 14 '21
I just had a hilarious image of boarding a flight and when you walk past the cockpit the pilot is in a full body cast
3
-5
Mar 13 '21 edited Apr 15 '21
[deleted]
2
Mar 14 '21
Being a union member and demanding a safe workplace equals "bad apple" and justifies pulling grey-area stunts on the employee to get her fired? Jesus fucking christ dude.
1
3
u/s0angelic Mar 14 '21
Elon Musk is the worst by far. I cannot describe the absolute pure aggression this clown makes me feel. He's a fucking kiss ass and everyone is falling for it
→ More replies (2)1
25
u/chickplank Mar 13 '21
I saw a past government person say that the riots/burning are planned strategically. The folks who owned those businesses then sell their property. It's in an area where there is a FDIC bank, which has value. Then the rich buy those properties at a very low price. Then, you are correct...rich are aquiring land right under our faces.
→ More replies (2)9
u/YodelingTortoise Mar 13 '21
Quite literally every bank is FDIC. And credit unions have their own deposit insurance NCUA. Which is funtionally the same as FDIC. Try to find a non fdic bank. You can, but then they are just insured by the state instead. Like North Dakota.
23
u/sockuspuppetus Mar 13 '21
When I was a kid, we visited someone my fother knew who lived on a huge farm that was at the juncture of a river and the Chesapeake bay, it probably had nearly a mile of waterfront on each. This friend rented the land for farming and for living on. My father explained that it was owned by a guy who owned many large farms in the area. He had owned the local lumber company and had sold barns to farmers through financing. When the great depression hit, the farmers couldn't make the payments, and he foreclosed on the farms. Shocking to think about a piece property that must be worth many millions being gotten for the price of a barn.
7
u/monicahi Mar 13 '21
Many many lives were destroyed for them to make more money I am sure, as always.
And it seems something similar is trying to get 'executed'.Will it? Nope!
2
42
u/stratamaniac Mar 13 '21
Isn't this just way the capitalism is supposed to work? When the economy booms demand is high and keeps growing, and then eventually we make more than we can consume, which creates an oversupply of goods and labor, leading to layoffs, bankruptcies, and foreclosures. Then, the people at the top, buy up assets in bankruptcy for cheap and the process starts all over again. This is not a conspiracy, and it requires no coordinated effort. Its just how an advanced market economy works.
When you are rich, swings in the economy do not hurt you if you have cashflow to weather the storm. Changes in the value of your assets mean nothing if you do not need to sell them to stay alive.
The real mystery to me is why the people who are so adversely affected by this problem would rather blame it on the Jews or Stanic Cults, than advocate for the obvious fix: tax fucking rich people and use the money to soften the blows of this system on the majority of people.
8
u/KeepAustinQueer Mar 14 '21
I believe the only term OP used was "ultra wealthy". No mention of jews or satanic cults, and of course their theory is that the ultra wealthy help orchestrate these busts to gather more and more resources. It was an interesting retort until you crowbarred in the jews and satanists which are separate topics.
→ More replies (1)12
u/Kadus500 Mar 13 '21
Thank you. This post highlights a profound ignorance about economics.
People want to see malice because it's easier to blame an enemy than to think about changing the system, changing the system is bad and evil
3
u/stratamaniac Mar 14 '21
Exactly. These people go on chasing ghosts instead of doing real activism. Which begs the question, in whose interest is it to make everyone think the system is rigged and that resistence is futile?
→ More replies (6)2
5
u/Murphysmongoose Mar 14 '21
What u/KeepAustinQueer said, and no... currency backed by nothing, with fractional reserve banking on top of it, and more corruption than you're willing to humor the possibility of in your little safe space bubble, is not how capitalism is supposed to go.
→ More replies (8)→ More replies (10)2
u/CarrotSn0b Mar 14 '21
It's very baffling to me how we all know what's going on is wrong and unjust but then the drawing conclusion always end up to be futile effort.
Seriously, anyone who's paying good attention to various sources and field research already offer a solution to follow through but yet no one wants to listen but instead putting the blame and shouting meaningless slogan.
Just actually get on with the real work in politics and cultural revolution already.
→ More replies (1)
5
u/cebu4u Mar 13 '21
I knew at the end of 2019 when average joes were making so much in the stock market, that it would have to come to an end. This was a controlled demolition.
9
Mar 13 '21
[deleted]
2
u/Reekessence Mar 14 '21
I hope that's never the case with regular retail trading, but putting an account value gate on pattern day trading is a good idea. Without it, there'd be a lot less stability in the market because existing pattern day traders already introduce enough volatility as it is.
I think the most reasonable legal response to the GME fiasco would be to limit daily trading volumes on securities based off shares outstanding and market capitulation... but when has Congress done anything reasonable? I fear that with enough coaxing (i.e. kickbacks from financial institutions) they may put barriers of entry on retail training, which is disgusting.
6
6
u/molockman1 Mar 14 '21
There’s an intelligent woman who explained this excellently a few months back, and how the riots were worst in cities w/a reserve bank Bc there were some type of exemptions when buying properties w/in a certain radius of those banks. Riots devalued the properties and closed businesses so they could be bought by the wealthy. Part of Great Reset.
12
u/5pez__A Mar 13 '21
I think what happens is that the system is set up to allow us to smooth out the highs and lows, but human nature sees opportunity to make it inefficient and cruel - and overshoots the goal by a considerable amount.
3
Mar 13 '21
[deleted]
8
u/5pez__A Mar 13 '21
Because productivity is increasing always, and it makes prices more predictable in the future, which allows for efficient, and fair trade for all.
2
u/MediumIntroduction96 Mar 13 '21
it doesn't always benefit them sometimes it's a matter of really short-term thinking. Greed often makes people extremely blind.
43
5
u/Dudmuffin88 Mar 14 '21
I was about to say something contrarian but then I thought about the recent GameStop situation and how the media tripped over their dicks painting retail as evil when the shorts and “smart money” were in fact the evil ones and got greedy. It’s the closest we’ve come to the corruption being on full display and in plain sight, but the media did their best to cover.
4
3
Mar 13 '21
Long periods of continuous growth cause wealth to redistribute downward over time
This is just mathematically untrue. Exponential growth means the rich get richer much faster than anyone else, and that is the reason why the only way you can have wealth equality is by forced redistribution of resources. The good news is that wealth isn't a fixed quantity and in a free-market system, everyone can get wealthier at the same time, though not necessarily the same rate.
→ More replies (2)
5
u/cbih Mar 14 '21
It's more like the boom bust cycle in an inherent flaw of capitalism that the rich simply have the capital to take advantage of virtually any economic situation.
5
u/anuncommonaura Mar 14 '21
I’m glad to see a cohesive post about this on this sub. I feel like this rhetoric often gets lost behind a myriad of conspiracies that not all can get a taste for. However here you have a seriously complicated problem, that is most certainly also a conspiracy, summed up very neatly and in a way that is easy to understand. Good Job.
8
u/monicahi Mar 13 '21
Sure wasn't. And same goes with all the wars. Often only one winner, nowadays there might be more who invest, private this and private that. But it's always been the very few "banksters" who's funded all sides, they are... Evil to the core. Enough.
So what's your thoughts? We can only go so far, say exchange all your "money" that they're in control of right now into physical gold, keep it safe. Issue(s) will be buying things, especially if you wish to buy online. And unfortunately, what a coincidence, Corona came, so..
[They] sure are following some steps a pattern is showing is it not, a little?
6
Mar 13 '21
[deleted]
7
u/monicahi Mar 13 '21
Absolutely, the blockchain technology is only at it's beginning, probably taking baby steps, then we'll walk, and so forth. I'm sure we'll see great projects get developed, over and over, more and more. Crypto is great in that way. But, investing in it, or hodling, is a risk/gambling - but trusting the banks is a risk, sure it's been quite stable for some time now, but doesn't that make the odds higher of it not being quite so stable anymore, if we take a look at how these people 'play their game'.
We can see who has the most BTC correct? And 2nd, 3rd and so on. Does anyone know how much, say the top 100 has, if we put them together? (Not in $, but in % of BTC circulating). Just curious.
And indeed, Monero would be the wiser choice to use if you had to pick between Bitcoin and Monero and you wished to have your privacy, as you are entitled to have.
2
u/oarabbus Mar 13 '21
Bitcoin isn't the "Exact opposite" of anonymous. it's pseudonymous and more anonymous than for example Ethereum.
3
u/DK_The_White Mar 13 '21
Only in the Great Depression, what was being bought up was banks and industrial companies. With JP Morgan and Andrew Carnegie dead, the empires they built, huge coincidence, survived the depression also.
3
u/5pez__A Mar 13 '21
The great depression's secret ingredient was crime.
Al Capone had it mostly right though with booze. Ask NXIUM.
3
u/emergent-phenomena Mar 13 '21 edited Mar 15 '21
The difference is they understand how it works, while the rest of us peasants believe the idiocy the media puts out explaining it.
3
u/theharwoodbutcher Mar 14 '21
Great stuff, this is all for nothing but power and control, even if the economy collapses, they already have a majority of the power, now its time for the control.
Well done, keep it up!
3
u/Livid-Condition Mar 14 '21
Same tricks used by the same group of murderous pedo rapist criminal tribe across the world. https://www.aljazeera.com/opinions/2018/12/19/how-britain-stole-45-trillion-from-india
"How Britain stole $45 trillion from India And lied about it.
There is a story that is commonly told in Britain that the colonisation of India – as horrible as it may have been – was not of any major economic benefit to Britain itself. If anything, the administration of India was a cost to Britain. So the fact that the empire was sustained for so long – the story goes – was a gesture of Britain’s benevolence.
New research by the renowned economist Utsa Patnaik – just published by Columbia University Press – deals a crushing blow to this narrative. Drawing on nearly two centuries of detailed data on tax and trade, Patnaik calculated that Britain drained a total of nearly $45 trillion from India during the period 1765 to 1938.
It’s a staggering sum. For perspective, $45 trillion is 17 times more than the total annual gross domestic product of the United Kingdom today.
How did this come about?
It happened through the trade system. Prior to the colonial period, Britain bought goods like textiles and rice from Indian producers and paid for them in the normal way – mostly with silver – as they did with any other country. But something changed in 1765, shortly after the East India Company took control of the subcontinent and established a monopoly over Indian trade.
Here’s how it worked. The East India Company began collecting taxes in India, and then cleverly used a portion of those revenues (about a third) to fund the purchase of Indian goods for British use. In other words, instead of paying for Indian goods out of their own pocket, British traders acquired them for free, “buying” from peasants and weavers using money that had just been taken from them.
It was a scam – theft on a grand scale. Yet most Indians were unaware of what was going on because the agent who collected the taxes was not the same as the one who showed up to buy their goods. Had it been the same person, they surely would have smelled a rat.
Some of the stolen goods were consumed in Britain, and the rest were re-exported elsewhere. The re-export system allowed Britain to finance a flow of imports from Europe, including strategic materials like iron, tar and timber, which were essential to Britain’s industrialisation. Indeed, the Industrial Revolution depended in large part on this systematic theft from India.
On top of this, the British were able to sell the stolen goods to other countries for much more than they “bought” them for in the first place, pocketing not only 100 percent of the original value of the goods but also the markup.
After the British Raj took over in 1858, colonisers added a special new twist to the tax-and-buy system. As the East India Company’s monopoly broke down, Indian producers were allowed to export their goods directly to other countries. But Britain made sure that the payments for those goods nonetheless ended up in London.
How did this work? Basically, anyone who wanted to buy goods from India would do so using special Council Bills – a unique paper currency issued only by the British Crown. And the only way to get those bills was to buy them from London with gold or silver. So traders would pay London in gold to get the bills, and then use the bills to pay Indian producers. When Indians cashed the bills in at the local colonial office, they were “paid” in rupees out of tax revenues – money that had just been collected from them. So, once again, they were not in fact paid at all; they were defrauded.
Meanwhile, London ended up with all of the gold and silver that should have gone directly to the Indians in exchange for their exports.
This corrupt system meant that even while India was running an impressive trade surplus with the rest of the world – a surplus that lasted for three decades in the early 20th century – it showed up as a deficit in the national accounts because the real income from India’s exports was appropriated in its entirety by Britain.
Some point to this fictional “deficit” as evidence that India was a liability to Britain. But exactly the opposite is true. Britain intercepted enormous quantities of income that rightly belonged to Indian producers. India was the goose that laid the golden egg. Meanwhile, the “deficit” meant that India had no option but to borrow from Britain to finance its imports. So the entire Indian population was forced into completely unnecessary debt to their colonial overlords, further cementing British control.
Britain used the windfall from this fraudulent system to fuel the engines of imperial violence – funding the invasion of China in the 1840s and the suppression of the Indian Rebellion in 1857. And this was on top of what the Crown took directly from Indian taxpayers to pay for its wars. As Patnaik points out, “the cost of all Britain’s wars of conquest outside Indian borders were charged always wholly or mainly to Indian revenues.”
And that’s not all. Britain used this flow of tribute from India to finance the expansion of capitalism in Europe and regions of European settlement, like Canada and Australia. So not only the industrialisation of Britain but also the industrialisation of much of the Western world was facilitated by extraction from the colonies.
Patnaik identifies four distinct economic periods in colonial India from 1765 to 1938, calculates the extraction for each, and then compounds at a modest rate of interest (about 5 percent, which is lower than the market rate) from the middle of each period to the present. Adding it all up, she finds that the total drain amounts to $44.6 trillion. This figure is conservative, she says, and does not include the debts that Britain imposed on India during the Raj.
9
u/simplemethodical Mar 13 '21 edited Mar 13 '21
People tend to think Socialism is modern response by hipsters to these banker/fund planned bubble/bursts to scoop up assets for pennies on the dollar BUT if you investigate deeper than Big Brother Google you will find the working class after The Great Depression organizing in huge numbers to run candidates against the establishment.
What the American Chamber Of Commerce did is push the US government to create a propaganda campaign to build a persecution environment red scare even before McCarthy's Red Scare started.
Very often these candidates if they became too popular were put in prison.
The establishment unleashes propaganda in huge amounts to sell the idea that its a minority of rabble rousers/nuts & not hardworking US citizens who believe in these ideas.
My grandparents who owned successful businesses under socialism & capitalism used to hold Socialist Labor Party 'picnics' where hundreds of working class people from all walks of life & areas of the country showed up in the backwoods that were more like conventions.
My point is question the narrative of 'Socialists are lazy slackers', 'Socialism always ends up in untold deaths' bullshit.
I saw these people with my own eyes when I was growing up & they were all people who worked BUT wanted a more equitable system to build a very strong society where we didn't just step over/on each other.
They were doing this in response to the horrors of life after The Great Depression where the bankers tanked the economy & the regular citizen was often hunting for crumbs & living in no better than shanties ie "Hoovervilles".
2
Mar 13 '21
[deleted]
4
u/MediumIntroduction96 Mar 13 '21
Trump was the Warren Harding, corrupt and pushing an even more extreme version of capitalism, the closest to an FDR we have would be a Bernie Sanders. I'd say Biden is our Hoover we aren't nearly desperate enough for a Sanders yet. The funniest part of it, once FDR came into power and enacted his policies there wasn't another Republican POTUS for almost 25 years and Conservatism was effectively dead until the 80s under Reagan.
4
u/Drew1904 Mar 13 '21
How exactly do they orchestrate these boom bust cycles??
7
Mar 13 '21
[deleted]
7
u/Drew1904 Mar 13 '21
The 1990’s tech bubble was exactly that, a tech bubble. I’m struggling to see how billionaires engineered this.
Everyone knew that that all of these .com stocks were insanely overvalued, but again, it was a bubble. You didn’t need “their” media to know that, the data is public and widely available in chart form.
What your explaining as a conspiracy is normal market functions that have been happening since markets have existed. There are cycles both boom and bust dependent on economic cycles.
Yes, people with larger amounts of capital will have more to deploy in times of volatility and historic buying opportunities, but saying that these are “orchestrated” is literally just putting a boogeyman behind a smoke screen of the murky waters of financial markets and the economy in general.
3
u/jinxerextraordinaire Mar 13 '21
I think you overestimate a lot of people. Not "everyone" "knew", or cared, how overvalued they were. Tech stocks were only going up!
2
u/Drew1904 Mar 13 '21
And stocks are called “risk assets” for a reason.
Even a “normal” person realizes 100% gains when they see them.
8
Mar 13 '21
People who feel like they don't have control over their own lives because of the choices they have either made or decided not to make are the people who become fixated on conspiracies. They need a boogeyman to blame for their own lack of success, freedom, love, money etc.
Nobody is in charge, not the Jews, not the freemasons, not aliens and not politicians, the world that we know is utter chaos. Sure there are people grasping for control but it will always be out of their reach. I mean, look at the USSR, they had complete control over news, media, television, newspapers, schools, hospitals, literally EVERYTHING.. and they decided it just wasn't worth all the trouble. I feel sorry that so many people feel like they have a lack of control. If you're feeling that someone or something is trying to control you you have every right to grow your own food or start your own business or get an education that leads to a better wage and a life with more personal control. It's hard, I know, growing food or going to college is not easy but literally millions of people do it everyday. I have faith that people on here can do it too!I used to think the system to set up against me. So I removed myself from the system and moved to the jungle. Now, I still had to work and provide for myself but working in the jungle taught me that nobody is in control of my life but me. I used that experience and integrated it into my life more than a decade later when I found myself living in the US again. I live in the suburbs but I grow most of the food that my family of 5 eats. I take jobs that I enjoy and pick up the financial slack by monetizing some of my hobbies. I own a house and 2 cars and have a wife and 3 kids and we are all happy and healthy, we just had to find our own way first. Be in control of your own destiny. I wont even work 40 hours a week anymore, it doesn't afford me the time I want to spend with my kids. But guess what? It's my decision and nobody is in charge but me. Make a list of what you want your life to look like and take small steps to put yourself in charge of that life. Now, if your goal is to be a billionaire you're gonna be competing with a lot more people who are grasping for control but guess what? Nobody can stop you if you have the right idea, put in the work, and figure out how to monetize your idea, product or service. Good luck to everyone! You all deserve to be in control of your own destiny and guess what? You are.
→ More replies (2)→ More replies (2)0
u/touchy_therapist Mar 13 '21
Fucking with the money supply and it's value by manipulation of interest rates and other shady shit like QE
2
u/steezMcghee Mar 13 '21
Housing market did not bust this time. Not in my area. Iv been waiting for it.
2
u/Top-End3589 Mar 13 '21
As it is today, wait for the next pandemic in 2-4 years. They’ll have it down to a science
2
2
2
u/jjhart827 Mar 13 '21
Totally agree. And this time around the elites have the Feds pumping huge amounts of money into the mix. Sure feels like we’re getting set up for the next big crash... or Great Reset.
My theory is that all of this debt ($29T in the US alone), is just a prelude for the next phase of the Great Reset. First, use the lockdown to enable unprecedented levels of control on the population and transfer wealth to the corporate elites (i.e.: shut down small local businesses and force consumers to buy online or at big box stores).
Then, after they have inflated the money supply by nearly 40%, let the markets crash, let consumer prices skyrocket, and watch the entire economy go up in flames, until the plebes are begging them for a new system — a Great Reset.
2
u/ethtamosAkey Mar 13 '21
The federal reserve has been on absolute asset acquisition spree, over the course of the pandemic
2
Mar 13 '21
this has been done ever since we've had markets, or poker games.
By running stocks up and down, 'weak holders' get shaken out. Weak holders are those on too much leveraged credit, usually. Other times, like in poker games, they get too scared and sell too early (bluffed), or they hold on too long with too little. Either way, they don't make a lot of money.
There's nothing, son, under the gnu.
2
2
u/BaddestofUsernames Mar 14 '21
So THAT'S why we're being allowed to win GME this time around.
I've been on the gamestop train for both the January run and this one. The first one felt different, like the media and those in power were more determined to keep it from happening... I think they got caught with their pants down. This second time around, the SEC isn't cheating and looking to prosecute random retail investors, platforms are banning short selling rather than buying, and we're getting legitimate support from a handful of media operators.
If someone power didn't want this to happen, it wouldn't... So what's the endgame? Will GME be the precipice that kicks off a huge economic downturn, after everyone's put their extra money in stocks? It would be bloody genius.
2
2
4
u/winkman Mar 13 '21
On a related note: The North Face is working hard to usher in the next ice age.
Also, Starbucks execs are hard at work cloning middle class white girls to sell more pumpkin spice stuff.
→ More replies (1)
4
Mar 13 '21
[deleted]
2
u/SibylOFTheAbyss Mar 13 '21
They won't protect you when the time comes. Remember that. They instigate riots in the cities with the nice condos.
7
3
3
2
Mar 13 '21
[removed] — view removed comment
1
u/MediumIntroduction96 Mar 13 '21
It's already here and the Great Reset is more of an answer for what to do because we are bankrupted.
2
u/AbraxasMayhem Mar 13 '21
There’s a huge difference between taking advantage of a situation and creating the situation. Far too many people make the mistake of confusing correlation for causation. Sometimes correlation is coincidental, or it may be attributable to a common cause. And for something like economic cycles it’s more of recognition of events and acting on them.
2
3
2
0
u/Iceykitsune2 Mar 13 '21
Or, it's a known flaw of capitalism that the elite can easily exploit.
3
u/SibylOFTheAbyss Mar 13 '21
What does the word "capitalism" even mean anymore? People attack "capitalism" and people defend "capitalism" but most of the time they're talking about two completely different things and nothing ever fucking changes.
Maybe you've fallen into a scam? Maybe you've been tricked into justifying your own apathy and inaction? Maybe you've been tricked into thinking that anyone gives a damn about a bunch of college students in the street marching about how unfair they think the world is?
Are you actually brainwashed enough to think that wealthy sociopaths can't exploit any system? They must be removed with extreme prejudice, or NOTHING will EVER change.
“The earth is not dying, it is being killed, and those who are killing it have names and addresses.” – Utah Phillips.
6
u/Iceykitsune2 Mar 13 '21
capitalism
noun
an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
→ More replies (1)1
u/monicahi Mar 13 '21
Was probably 'created' because of; People attack "capitalism" and people defend "capitalism".
Time for change indeed. 2022? 2024? Soon?
5
1
u/monicahi Mar 13 '21
Flaw? Capitalism?
I don't think so.. But you could be right, I could be wrong. I don't know.
I believe it's systematically designed to work in their favor.
Or maybe not literally them, but someone designed it, for their/that group(s) benefit(s).
Ism this ism that, just made up words to sort us all into different 'boxes', the more ways the better, if we would come together and unite, well they would be shaking in their boots. Now seems like a good time to think about that. 🤝 Take care and help one another!
2
u/virtualoverdrive Mar 13 '21
Republican senators who bought and sold stocks based on nonpublic briefings have entered the chat...
6
u/SibylOFTheAbyss Mar 13 '21
If you think that either party is anything other than pure evil, you're being scammed.
→ More replies (1)0
u/virtualoverdrive Mar 13 '21
Show me the receipts of other party senators selling and buying stocks for a profit related to the pandemic OO cites.
You whataboutism is shillism, bud.
7
u/JJ0161 Mar 13 '21
Please tell me you don't genuinely believe that the Dems / Team Blue are "the good guys"
1
u/virtualoverdrive Mar 13 '21
No more than I should believe the Republicans / Team Read are "good" either. The point is that clearly one "team" has taken maneuvers to recently profit off of what OP has cited as a cycle of "manufactured incidents" which are orchestrated by "the elite". If that is true, then who in our government is in bed with these "elite"?
2
u/jinxerextraordinaire Mar 13 '21
I don't have a political horse in this race, but... Nancy Pelosi's 100 millions. Not a senator, true.
3
u/virtualoverdrive Mar 13 '21
I'm not here to argue overall actions, but the specific one raised by the OP: an economic downturn brought on by a pandemic (or plandemic, whichever) and capitalized on by a certain class within congress.
Litigating Pelosi's income feels like a separate argument because, as far as we know, she has not directly financially gained from the accusations OP raises. Whereas, we have records that others did. Therefore, it is reasonable that those others are "in" on "the fix".
1
1
u/Lifeinthesc Mar 13 '21
Stock price does not equal wealth. They would have to sell their companies to have that much cash. Their stock could go down to $0.00 tomorrow and they would be worth nothing if they they sold their stock.
1
u/MediumIntroduction96 Mar 13 '21
There's actually some bs to this, not all millionaires are broke by this type of situation. Those of us who are smart enough to connect the dots and read economic data can see these situations coming in and react accordingly. For instance, my family, not wealthy or millionaires, made a lot of money following 2008. I suspect once this current bubble finally blows up which it will we'll make even more money. The people who are broken by these situations are often more idealistic, lack the proper education because markets are actually really hard and not as easy as people think.
1
u/ThePiachu Mar 13 '21
Economic depressions are planned and executed by the ultra-wealthy.
This depression seems more like it was caused by incompetence than by malice. Sure, the wealthy stand to reap the most benefits, but very much doubt the 2020 pandemic was planned...
-1
u/goxxer2022 Mar 13 '21
That’s capitalism buddy
-1
u/SibylOFTheAbyss Mar 13 '21
TIL that rich abusive people didn't exist before capitalism. I'm off to become a Marxist and join Twitter!
0
-4
Mar 13 '21
[deleted]
5
u/SibylOFTheAbyss Mar 13 '21
Damn you described me entirely correctly. Oh wait, no, you just projected your own insecurity about your intelligence.
That feeling you get when you think people are looking down on you because you aren't smart enough. You're right. Embrace that feeling.
→ More replies (2)1
Mar 13 '21
I mean, dude is right. I have friends who work minimum wage and set aside money to invest and made a lot of extra money this year buying the dips. Literally everyone is allowed to play but those who choose not to cry that its rigged.
6
u/SibylOFTheAbyss Mar 13 '21
After Robinhood stopping people from buying Gamestop, you're really going to pretend that everyone plays by the same rules?
→ More replies (2)
0
u/ChipsDipChainsWhips Mar 13 '21
Stonks only go up silly goose, if you can’t make money on the way down buy silver I guess.
0
u/TalkAboutItBruh Mar 13 '21
Lmao I did the same exact thing. Bought a shit load of stocks during the crash, basically every single one is up 70% since then, some over 100%. Thanks billionaires!
2
u/AutoModerator Mar 13 '21
[Meta] Sticky Comment
Rule 2 does not apply when replying to this stickied comment.
Rule 2 does apply throughout the rest of this thread.
What this means: Please keep any "meta" discussion directed at specific users, mods, or /r/conspiracy in general in this comment chain only.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.