Thursday, June 14, 2012

At the Mercy of a One World, Global Elite Financial System

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Maybe nationhood is a vestige of the old world order, exhibiting itself best in the cheering on of one's country in the Olympics, individual languages, and cultural cuisine.

The financial rule of the world has moved elsewhere to the World Bank, International Monetary Fund, Davos, Bilderberg, etc. The world is being carved up by the global elites into trade and low-wage manufacturing zones that benefit the wealthiest of the earth.

Certain nations are still victims of predatory wealthy measures by wealthier countries to invoke austerity measures. The World Bank does this repeatedly to southern nations by making the cutting back of social safety nets a requirement for loans - and then sticking the countries with onerous interest rates.

But, in reality, we are really talking about a financial overlay of the global oligarchy over the poorer regions of the world, whatever their arbitrary national boundaries, and the forcing of austerity measures even on prosperous nations.

The irony is that the right-wing of America has long despised the United Nations, but the current reality of economic management of the earth is falling into the hands of a few elite institutions, developed regions (call them nations if you will), and international financial firms and corporations. Call it the United Global Elite instead of the United Nations.

Members of the global elite, as BuzzFlash at Truthout has mentioned before, are more at home with each other than with the other 99% of their own countries. The G-8, the G-20, call them what you will, but the economic fate of nations is decided to a great degree at international meetings of the haves.

This is not a conspiracy theory. It is the result of a world of global trade, finances, and marketing that is not confined to national boundaries. Yes, nations have distinct legal systems, but their financial fates are more and more determined by decisions made at a global level by individuals at a great distance from working people - or the person trying to survive on subsistence living.

Last week the head of the infamous AIG corporation, Robert Benmosche, predicted that retirement ages would rise. How high did he predict that they would rise?

"Retirement ages will have to move to 70, 80 years old," Benmosche told Bloomberg. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth."

Considering the lack of jobs around the world today, one has to ask how out of touch is Benmosche, a member of the global elite -- despite the ruinous effects in 2008 of his company's actions. Where will these jobs come from at a time of high unemployment?

Either populist movements, such as in Greece and the Occupy Movement in the US, will regain control of local economies, or the world will become one medieval fiefdom.

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