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How are YOU going to bring about real change if you do not exactly know what is wrong?
WHAT DOES CAPITALISM TERMINALLY FAILED MEAN?
By Mehmet KurtkayaIt means that the West and the Western controlled territories are drowning in private, government and personal debt which is mathematically impossible to pay.
In order to delay the inevitable collapse of the system, Western bankers print money using Wall Street and City of London controlled Western central banks (FED,ECB,BOJ and others) at the expense of all the people who use Western currencies around the world.
On top of direct money printing, euphemistically called quantitative easing, bankers write derivatives to not only postpone failure and mask debt but also implement banker run price controls on commodities, precious metals such as gold and just about every item that the economy needs.
Yes, price controls are implemented in the West, since the beginning!
Derivatives are largely fraudulent guarantees to prop the structurally failed system another day. They enable bankers to establish defacto price controls as opposed to government price controls in non-Western countries.
Especially since the 2008 terminal crisis of capitalism, all manipulations became much more visible, for those who search for information on the internet blogs as opposed to banker owned/controlled media.
The terminal failure of capitalism was visible to anyone who paid attention since June 2007 but noone I mentioned to, including the so called leftists/socialists who are fake dissident believed it at that time. Everybody was happy filling their pockets. The people believed in and had accepted the supremacy of capitalism with whatever monies/jobs they were holding on to.
Failure of capitalism means the debt (the monies printed) and the physical world assets as well as the capacity of societies to generate wealth under current capitalist management do not match and can never match. Warnings were issued in the 1990s by some American economics professors as well as true leftist dissidents about the disconnect between the paper wealth that cross borders electronically around the world and the underlying physical assets of the world.
The reason for the disconnect is actually very obvious. The head of a Western central bank can create a trillion dollars With the click of a mouse on a computer but it would take an immense amount of labor for the people to generate one trillion dollars worth of goods and services . Hence money printing by Western central banks for the benefit of private bankers is exactly like a King's decree of the past millenia with no physical connection to the realities of the world.
Financial promises the West made to the people about asset prices, capital allocations, savings, retirements were mostly fraudulent. They cannot be met, they were not meant to be met and they will not be met.
Major private banks achieved their short term goals by fraudulently fixing every finance number, like the interest rates as shown in LIBOR fixing scandal concerning the base interest rate in the Western world, as well as price rigging scandals in gold, stock markets, government bonds, oil etc.
The best recent example out in the open was Swiss Central bank who backtracked from its promise of holding the Euro peg Swiss Central bank who backtracked from its promise of holding the Euro peg in 2015 which was, by the way, a capital control. So much for the free market illusion in one of the capitals of Western finance. Deutsche Bank of Germany holds 54 trillions of euros of derivatives which cannot be guaranteed by the German people as it is 30 times their GDP.
The mistrust in the capitalist system was visible during the 2008 crisis when Wall Street/London bankers themselves did not trust each other and did not lend each other hence credit markets froze. Bankers had voted their own finance markets out by buying government bonds, backstopped by the people!
This echoes Greenspan, the renowned American central bank king who said in a post crash congressional testimony that he was surprised the markets did not self correct! He was lying like Western central bankers often do, and the lie was eternalized in bankers' EU puppet Jean Claude Junker's words: "when it gets serious you have lo lie" with one caveat, it is always serious in banking, at least a 100 year long proof remains in real history books!
Banker debts became government debts with public funded bailouts as evidenced best in the case of Greek economic crisis where people started begging for their own money. This what bankers in capitalism do make people beg for their own money via money printing and bank bailuts. Since 2008 all the so called ECB aid to Greece went straight back to the banks in France, Germany and by extension the Wall Street and London banks that control them.
The people of Greece as well as that of Germany had to bail out their private banks like people in other countries. It was not only the people in the West that paid for the Western private bank and corporate bailouts but everyone who used Western monies around the globe. So the worker in a distant corner of the world outside the US and EU bailed out US and EU banks via taxes and inflation in his home country.
Hence what was a banking crisis became government/sovereign crisis in the following years. Unfortunately people have no memory of the bailouts of 2008 and how they got to where they are in year 2016.
It was largely because Occupy Wall Street did not get enough popular support in the US or Europe!
Western people hoped cowering under their tables would save their monies. Needless to say sticking one's head in the sand does not solve a problem. Also, they were located at the upper levels of the pyramid compared to non-western counterparts so they wanted to safeguard their actually non-existant wealth!
Then came the government crisis most evident in Italy, Greece and Spain but reached all Western governments as the capitalist pyramid continued crashing and free monies were only postponing the inevitable collapse but bigger one.
Once good EU/ECB puppets, Prime ministers of Greece, Papendreu and that of Italy, Berlusconi were replaced by the ECB and the Wall Street/London bankers without an election. And by Goldman Sachs alumni no less. If such things had happened in the former Soviet socialist bloc, everyone in the West would be shouting bloody coup!
This of course strained relations between nations within the EU as the crisis progressed to higher level economies such as Germany. EU shook up to its foundations, QE money printing only postponing its unavoidable implosion. The imperialist criminal wars the West waged in Libya and Syria not only created a mayhem for the people living there but created an immense humanitarian crisis which eventually affected the EU.
In short, rather than letting their banks fail in 2008 the Western governments and the people who support them rewarded bankers for their failure and got wars and instability at home.
As a result, the inequalities within the society and among nations has skyrocketed to highest levels in history. There were bright spots for the people albeit short-lived. These were not in the West but in the Western controlled Eastern countries. First Tunisia then Egypt was able to rise up against the econopolitical oppression of capitalism. In Istanbul, people organizing from the internet were able to stop the Western installed Wall Street funded fundementalist AKP government in Gezi park protest (Freedom uprising) that swept the country. A protest movement had started on March 2010 though on a much smaller scale.
TARP and other out in the open bailouts were just the tip of the iceberg for public consumption. The real bailouts with Fed money printing were in the 10-15 trillion dollars range and were used to postpone the crash another day. Sane people in the West warned against reflating the bubble in 2008 but of course they were a tiny minority and noone paid attention even when their opinion pieces appeared in popular websites.
It was later revealed that the big story was the derivatives which would have exploded City of London banks and then cascade across the West. Western derivatives are a way of saying don't worry you'll get your money next week, month, year. Why worry, enjoy your TV show and Hollywood movies, everything's gonna be printed all right.
Capitalism has lost its capital long ago. All economic systems are based on trust (faith) first and foremost and that trust is long gone. Average Westerner would not notice it or would rather not recognize it.
The West is regressive since the failed revolutions of 1848 in Europe and since the end of civil war in the US in 1865.
Since capitalism is based on master slave relationship it is a regressive force for the 21st century information age society. It was not even compatible with 20th century human rights, laws, international treaties, what we call civilization.
Let us not forget that we live in the age of abundant tech capabilities yet the system inhibits wealth! Banks stay on top of society by denying wealth to people. Victor Hugo's great quote, nothing can stop an idea whose time has come is more true than ever!
21st century social life is totally incompatible with capitalism, a 17th century construct. Capitalism would create racism, internal social divisions, magnify existing divisions and usurp divisions within societies like the Neocon/wall Street/London banker created attacks in Ukraine and Syria have shown in most inhuman ways.
Printing money to postpone failure is like driving with an oil leaking engine and adding oil every time smoke comes out of the hood. Eventually you ruin the engine and fail.
First the FED than the BOJ and ECB all printed money and impoverished their populations for corporate and bank bailouts and the neocon wars of the American empire in the Middle East. European banks are leveraged almost 1/30 and a small loss would wipe all their capital. Yet Euro-peons keep the Euro that enslave them.
People are like the shop owner who sells goods to customers not paying for their previous purchases and yet keep on selling on credit as he finds no alternative. First and foremost they are holden hostage to the misleading idea that there is no alternative to capitalism. And then they are holden hostage to the banks. This leads to continuous exploitation of the people by the banks.
The cost of Iraq war was said to be 100 billion and it turns out to be 6 trillion dollars with no end in sight. And this is the cost of the Iraq war. There are many wars from Afganistan to Ukraine to Syria that US is waging and all these costs are being transferred to the people in the West and those who use Western currencies.
Certainly the real cost is not the monies, it is the human death toll, lost lives, wounded people men, women and children.
Humanity was replaced with money in Western governments long ago and only a handful of couragerous, real dissidents in the West fight back.