Peter Phillips, Professor of Political Sociology at Sonoma State University and the former director of Project Censored has written a book, titled “Giants: The Global Power Elite“.
He has some very interesting things to say. The globalization of power and wealth has become highly concentrated into very, very few hands, what he calls “giants”. These are transnational investment companies, of which just 17 of them have over a trillion dollars in assets collectively, while controlling over 41 trillion dollars in 2017.
They represent another two thousand billionaires and thirty six million millionaires around the world, who put their money into investment capital. Only eight people have control now of over half of the wealth in the world.
However, 80% of the world’s people live on less then $10 a day, and 50% of the world live on less then $3 a day, and roughly 25% live on $2 per day. This massive inequality causes 30,000 people to die daily from starvation and malnutrition because of how profits work. The whole system is non-humanitarian, based upon gaining enormous profits and capital concentration. Just 199 people manage those 17 transnational investment companies, who are deciding where money will be invested and where it won’t.
They’re buying up public resources all around the world. Water rights, freeway systems, whatever can be bought to get a return. Essentially, they’re privatizing the world for profit. They’re also ensuring that permanent war continues. Wars are enormously profitable. Some of their biggest investment are in companies that make enormous profits from war such as Lockheed Martin and Northrop Grumman. They were also behind the speculative investments like the subprime mortgage system that almost collapsed the country in 2008.
Governments and the military intelligence agencies, policy groups, the World Bank and International Monetary Fund, work on their behalf protecting this capital, and allow it to continue to grow and expand, and continue to allow this privatization and the buying up of the world’s remaining resources held by this very small number of people.
There are three groups to be aware of. First is the non-governmental policy groups like the Council of Thirty for global capitalism. Based in Washington, DC, thirty central bankers, economists, and some of the top policy thinkers in the world, put out policy reports that are seen as instructions by the World Bank, the International Monetary Fund and governments. Other big policy groups that are also private are the Trilateral Commission have about 400 people, and they put out policy reports.
The third group is the Atlantic Council, which is made up of nations of NATO. They’re all high level security people and/or investment advisors, and they are in the business of protecting global capital. They’re the ones that made the recommendations to Facebook as to who to drop last year, who did they think was not supporting capitalism and global capital. That’s essentially the criteria for people to get dropped. They’ll call and say they’re not truthful or they’re lying or something like that. But they’re the ones making policy recommendations for regime changes in Venezuela or Iran, Russia, and pressuring China in a variety of factors as well.
These groups will work with dictatorships or democracies, either one, as long as those countries facilitate capital penetration, allowing returns on investment and are police-wise and military-wise life able to restrict their populations from resistance. All nation-states are all tied into global capital. The elites of these nation states get wealthy in many places that people are quite poor, but the people are contained. Nation-states are literally population containment zones for global capital use.
These 17 giants, and then other near giants, are the real center of global capital. They decide where and how capital is invested. And so, whether it’s military or oil companies and police states, whatever can return a profit. This activity is of course, what is destroying the world, but not only militarily but in terms of the environment.
If this isn’t fixed, the world is going to face financial collapse and economic destruction. We’re facing economic collapse and environmental destruction worldwide in which millions if not billions of people will die.
The video is worth watching (as usual, make sure your browser isn’t blocking):