the Last Piles
Capitalism has entered its death throes: the stage of dying in a very painful and unpleasant way. An animal is most dangerous when mortally wounded or diseased. Just prior to final death, some organisms experience what is called "false recovery," during which they appear to be in complete health. This is a chimera, and the organism soon dies.
Similarly, global capitalism currently appears robust and healthy to the uninformed, but this condition is merely a delusion; capitalism is intrinsically defective and diseased and dying an agonizing death. Mortally diseased and wounded, capitalism is trying to take America and other nations down with it. In its death throes, the capitalist system insanely loots the last piles of wealth in a hopeless effort to save itself.
The capitalist cabal began its looting of American workers' money from the founding of the United States, with the establishment of national banks. It used its bought-and-paid-for US congressmen in 1913 to create what was called the Federal Reserve System (FRS), a series of privately-owned banks that were given the power to print US currency and control US fiscal policy.
"In every case where Washington attempts to utilize militarism to advance US imperialism's interests and offset the economic decline of American capitalism, it is the masses of people who suffer, from the millions killed and displaced in nearly nine years of US war and occupation in Iraq, to the carnage unleashed on the people of Syria, and now the turning of a half a million impoverished residents of Mosul into homeless refugees.|
No one has been held accountable for these actions, which indisputably constitute war crimes. Those responsible include not only George W. Bush, Dick Cheney, Donald Rumsfeld and others in the previous administration. Both major political parties, the media, the corporations and every American institution are responsible for the lies that have pervaded US policy--both foreign and domestic--for the past decade and a half. All of the criminal policies under Bush--aggressive war, torture--have been continued and deepened by the Obama administration. With its 'pivot' to Asia and coup in Ukraine, it is preparing military confrontation with Russia and China and laying the groundwork for a nuclear Third World War."
Bill Van Auken, "The fall of Mosul and the crimes of imperialism,"
wsws.org, 12 June 2014
War is a primary tactic used by capitalists to loot and destroy workers worldwide. Along with the plundering of the two World Wars, the Korean war, the Viet Nam war, the war in Afghanistan, and the two Iraq wars, capitalists also looted whatever piles of worker wealth were available: the savings-and-loan scandal in 1987, the dot.com bubble in 2000, the sub-prime mortgage scam in 2002, the bankster bailout in 2008, and the FRS quantitative easing fraud beginning in 2008 and continuing into 2014.
In 2014, the puppet president Barack Obama announced the capitalist cabal's plans to plunder American workers' retirement savings through a scheme entitled MyRA (my IRA) and through a policy of capital control and negative interest.
& Loan Looting
2000 Dot.com Looting|
2002 Sub-prime Mortgage Looting|
2008 Bankster Bailout|
2008-2014 FRS Quantitative Easing|
2014 MyRA Scam|
The global capitalist system's looting and destruction has brought the world to such a crisis point that
the amount of developed world debt between household, corporate and government is just over $21 trillion. In their frenzy to save themselves from utter ruin, capitalists are now scheming to pay off this debt from the financial assets of the middle and lower classes (not the upper class or the billionaire upper 1% class).
This plan to confiscate wealth from the middle and lower classes is insane. The capitalist upper classes, through their spurious estimations, claim that the middle and lower classes possess a wealth of $18.5 trillion. This estimation of middle and lower class wealth is an utter chimera. This false estimation does not take into account these factors:
- The middle and lower classes have $11.68 trillion in credit card debt 1
- 41 million (13% of total 313.9 million US population) middle and lower class Americans are officially below the poverty line: a female's poverty threshold (the amount of annual income below which a person is considered to be in poverty) is $10,000 per year and a male's poverty threshold is $8,000 per year; children under 18 have no poverty threshold
- 11 million US households suffer from negative equity: their mortgage outstanding is higher than the value of their homes
- 25 percent of all American adults have no savings for retirement
- 5.5 billion people worldwide (80% of the world's population) live on less than $10 per day
The New Capitalist Confiscation of Worker's Money Begins
We first got wind of the capitalist cabal's new schemes for plundering workers on February 12, 2014 when Reuters published its Exclusive:
"EU executive sees personal savings used to plug long-term financing gap."
"The savings of the European Union's 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says."
The Reuters story peddled the capitalist lie that banks, since the 2008 crisis (as the criminal collapse of the world economy by the capitalists is euphemistically called), are finding it almost impossible, with new capital reserves requirements, to loan money for new business ventures.
What is the European Union's solution:
"The Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law 'to mobilize more personal pension savings for long-term financing', the document said."
By "mobilize," the capitalist EU means CONFISCATE!
As I am writing this essay in June, 2014, I'm attempting to help intelligent readers stay ahead of the new machinations capitalists are planning and implementing in their ongoing looting and destruction of workers worldwide. On June 5th, one of the capitalist schemes I had anticipated came into being earlier than I forsaw: the European Central Bank announced it would, for the first time, begin charging interest on all money deposited with it.
This is the first of a series of plots to confiscate the hard-earned money of workers which we'll examine in this essay. The other two connivances we'll analyze are 1) the cabal's new scam called MyRA (my IRA) and 2) capital control.
We'll conclude this essay by examining how we must build cooperative commonwealth communities as the only solution to our current plight under the despotic rule of global capitalism.
The One Solution to Our Present Plight
Workers throughout the world must begin now to prepare for extreme conditions, as predatory capitalists deliberately cause world wars, domestic lawlessness, civic unrest, unemployment, loss of medical care, homelessness, poverty, economic collapse, and genocide for the purpose of consolidating their power in a new world order. We must carefully scrutinize capitalism's current insane tactics and its historical onslaughts against workers--to see how the fallout affects us.
At some point during this current descent into a new dark age intelligent workers must begin building safe havens within which they can survive. At present, there are quite a number of fantasy survivalist utopias being touted, while only
one realistic plan is being made available to the discerning few.