Your Guide to the New Economy
Congratulations! You've spent the last 14 years or so since the Global Financial Crisis getting up to speed on all the financial lingo, and now you can finally wrap your mind around the reality inversion bubble and explain the intricacies of the ratings game and bore people at cocktail parties with a detailed account of how HFTs are ruining the markets.
Good work!
. . . But guess what? That's all outdated!
As I pointed out last week, we are entering into a Brave New Neofeudal Net Zero Economy, and all the verities of the old economic order are being thrown out the window. Make no mistake: they don't call it a "New World Order" for nothing and they aren't kidding around when they call for a "Great Reset."
Yes, the world is changing fast in this decade of transformation, and now there's a bewildering new array of acronyms and asset classes to learn about. So buckle up and get ready for a crash course in the new (slave) economy.
In this week's edition of The Corbett Report Subscriber, James takes you on a whirlwind tour of the new (neofeudal) economy. Afterward, stick around for recommended reading, listening and viewing and get access to the coupon code for 25% off Corbett Report DVDs at the new New World Next Week shop.
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I wonder if anyone here thinks NFTs are legit…
Sound money was always the deal, guys. 50 fiat years are over and so is that system. I want to ask Christine Lagarde for UBI paid in gold.
Why can’t we have that? It’s almost like you don’t want to help, Christine!
Didn’t you think of ways to improve the world during those Bilderberg meetings?
What is this?! Unelected criminals are making decisions over how I must live?
Quit hogging the money printer. Let us have a go. Making money from nothing and expecting the world to give you stuff for it (or else!) was a good scam while it lasted.
Now all you’ve got left is pretense and make-believe.
Silver and Gold did not end the FED. They were present at the start of it, now look where we got.
Lasthumanist
If the FED was forced to transact in money backed by gold, silver, wheat, coal, or anything real they could not magic money out of nothing…or at least not as much as now.
Government can ruin the money just as well as bankers can- human greed and love of free gifts does that every time and every place
I don’t know why but when I hear NFTs, I think about that old scam about naming a star after someone..
You get a certificate and everything!
Personally, I’d say the moment when we hand something over, like dollars to a cashier or a baton to the next marathon runner, or a flower to a darling,, its the literal physical passing from hand to hand that comes with a flash of trust, that we agree,, for me, the agreement is the money.
we are trust.
Which is not to say that one can survive just running around and agreeing; Its a wild jungle-scape on this hurling mango of a spaceship; good manners/respect can get one past the bulk of the dangers, and fair exchange is a way to build trust & promote that perspective.
once again, digital exchange gives the agreement moment to Hal and other strangers who think they own Hal. Just more deadening dullard digital dungery
I completely agree! Developing an alternative monetary system is more important than ever! It is basically race against the time!
Joseph
You can not create a ‘trustless’ system of money (like paper cash or bitcoin or whatever which do not require the parties to know each other) unless you have state levels of coercive power…the Amish could have zero cash and still do business with each other a ton.
People need to think much smaller scale about community Projects- but as long as the broken fiat system looks like it’s h
Gonna keep supplying calories and dopamine most people will take the fake over the real
Yes, and it is starting to become visible, at least in Europe, by every passing day. Governments learned the strategy from the Bilderberg group how to advance slowly only taking tiny steps hoping that people will not notice to force them into rules they would not agree to otherwise. The coercion, blackmail, and enforcement will just escalate further. By now it slowly becomes evident that most of the European countries are planning 100% mandatory vaccination regularly every Nth months and probably those who will not take it will be left behind on the side of the road…
Definitely. You should look a person in the eye when transacting.
This green investment hype what else is it than a modern type sale of indulgences?
As the human being does not change, history repeats, repeats, repeats.
As long as the majority of the people is happy enough with the system they have. As long as the authorities pay, lead, entertain, clothe, feed, heat the house and give fancy promises for the future, change ain’t gonna happen. As long as the people fear to lose all these conveniences when the system dies, change ain’t gonna happen. As long as science and technology seems to ease the daily human suffering to some degree, the people will adore – even sanctify it.
One can see this beautifully at work when playing modern age online (pay to win-)games. These systems are like a microcosm of the modern day real world – sometimes even pioneers and role models for it. The game companies are ‘psyoping’ and ‘gaming’ their playerbase to no end, seduce, entice, even deceive it so they pay and play. But t h e p l a y e r s h a v e f u n. This is what they want even knowing that they are addicted to the game.
For the majority of the people, the system is still doing its job and having generally low standards, one is not compelled to object. Someone who only pretends to be asleep cannot wake up.
I agree with EngineeredPhilosopher. There will be no change as long as you are dependent on their system. As long as you need that Grain to feed the animals at the store you buy from your trapped. If you think you own your land stop paying for it and see what happens (taxes).
The way I see it is we have to be able to live in a primitive state again. With no Electricity, Money, or any convinces of this age. I know that sounds crazy but I am trying to get there. But why would you want to go down to this level of living?
Having this Knowledge will help all of us in this group to not be tempted with the leisure life offered by the Elite class. In short if they got nothing to sell me or nothing to offer me that I need, then I can make the clear choices and just walk away from this crap.
Now I am aware that Violence will be used for those not on their program. Not many answers to that except be prepare for that in the way that fits you.
Systemic violence…
It is not that easy for the system. It has to rely mainly on soft-power.
It cannot go all-out evil. It has to keep up appearances.
This is why to make the system show its true and inherently violent face is such an effective way of calling it out. If, and only if, it can be done peacefully.
KipSystemic violence is very easy for the system… it will always be cheaper and safer for an established ruling class to use soft power.
You see the massive violence when
A)The system is doing a change of bosses
B)The system is breaking down and losing control.
The west, and North America particularly are having Both things happen at once….You think the BLM riots were not 109% under the control of the ruling class? Expect way more street violence in the coming years…and now they are washing out people who won’t vax from the gov people with guns?
Not really talking about systemic violence. Its more like A dictator type absolute control government type of violence.
We lost the battle here in the US of A a long time ago. Dont pay taxes on property they come flying in and take it by force and you have to work real hard to stay alive (even when unarmed).
Force is what is preventing many communities to grow any bigger then a few people.
You will need mass non compliance in the places that count. W have the slavery now. Trying to break out of this prison is the goal of many, but Force is always around the corner.
GHT
You’re right, except I don’t consider an Amish way of life “down a level”. At this point “regress” would be progress. Convenience is a killer; it makes us fat, lazy, unhealthy, and has torn apart society. We live in an unnatural way that doesn’t serve us. If more men did manual labor on their own homesteads and got their physical energy out in a productive way, maybe there would be less violence. If women slowed down to nurture their families instead of prioritizing career, then maybe everyone would feel happier and more loved. We were naturally built to play certain roles. If we stop fighting against our nature, we might find life to be more fulfilling. But instead the idea of staying home with children has become abhorrent and hard-working men aren’t valued as much as money-making men. We live in a world where glamour trumps substance; where we’re always going going going to get more more more and never stop to smell the roses. No satisfaction. Is this really better than living a simple life? I don’t think so. What we’re experiencing now is just the push we needed to do something that should have been done a long time ago.
I don’t consider it a “Level Down” Just that its hard for the Cattle to break from the comforts of the house that was built for them.
Every thing you mentioned I agree Fully with you and its my goal to get there. I wish I can find more like minded people in my Area and I am deep in a rural area.
I read your statement again. Its good and I agree.
I live in the suburbs, so that makes achieving this lifestyle tricky, but I’m doing the best I can. Yes, the biggest challenge is finding signs of human life amidst the sea of mooing cows.
A biological human is never cattle.
Either all human life has value, or none has value.
All are equal in dignity and should only be differentiated according to their actions. Misdeeds should be punished and good deeds rewarded.
Even if you think of others as “cows”, it is ultimately in your own interest to pretend otherwise.
You’re right. That wasn’t nice. Sorry for saying that.
It’s only human to lose patience.
I was angry for quite some time myself, as I watched all those lines being crossed in 2020.
However, I always strive to be better and overcome.
Self-improvement leads to world improvement.
Slowly but surely.
Why should it matter that there are people who seek negativity and a path of destruction when we have found a better way for ourselves? The grass is greener on the right side of history. Someday, the cows will come to graze there. I would like to see the day but even if I died at this very moment, I would be content overall with the choices I have made in life as they were a small contribution towards a greater good.
Come to think of it, these past 2 years have vindicated my previous life choices more than anything. I never cared for the money and the power. It’s all hollow. My pursuits of truth and beauty would have been impossible without suffering, including that of other people. I am ever grateful for the milk and wish the cows well.
The devil always wants to counterfeit and copy… it’s no wonder that people obsessed with kabbalah and hacking Gods rules like it’s a computer game have managed to blow the financial bubble up so big that even they are scared to see it pop
“We have two choices: develop an alternative monetary system or live under a system of total economic enslavement. The choice is ours to make . . . for now.”
I find the phrase “economic enslavement” very odd in this passage. It’s a sort of deceptive euphemism: it ostensibly acts as a figurative emphasizer, as if likening the coming digital-finance paradigm to “slavery” is dramatic hyperbole…but it actually functions to soften the reality. It softens reality by suggesting that “economic enslavement” is something less severe than just outright enslavement.
But really, the system the article describes is just enslavement. Period. No qualifiers.
And we’re already IN that enslavement. These announcements are merely elaborating the evolving form that our (already-consummated) slavery will soon take. The “New Economy” isn’t the trap, it’s the carcass-processing facility. (The trap was agricultural and industrial society, and it was sprung generations ago. We’ve all been livestock ever since. Now, we’re just being processed and either culled or rendered into the final products to be delivered to the end-users.)
We are not headed toward “economic slavery,” but instead we are already living in just plain old slavery. In fact, I don’t know what “economic slavery” means at all. One is either a slave or not. Slavery is an economic arrangement. The one we’re in.
Now as for this “choice” business: there is no choice. Now, or ever. All this talk of “alternative currencies” and so forth is all reducible, in the end, to subsistence farming. Even meager barter cannot exist outside the prevailing techno-tyranny, because even arranging for trades using the internet is all completely transparent to and monitored by enforcers for the state. You can resort to any “alternative currency” you might select, from sea shells to pogs, but it’s all in view of the panopticon, and everything you have or accumulate is subject to confiscation the moment you run afoul of the tax-and-regulate superstructure.
So, that leaves people with subsistence farming, and bartering with only those in one’s immediate vicinity. Even if you were to gather some micro-community like this, your “alternative system” is only as strong as the arms you can wield to defend it from state enforcers. So it would require a massive arsenal of weaponry which would far exceed the humble and hardscrabble promise of self-imposed peasantry in the “agorist” micro-community. Plus, long before you were able to accumulate the necessary arsenal, your purchases would attract the FBI/BATF Eye of Sauron, and make a conspicuous sitting duck of your agoristic village.
I agree with most of this FC. When you say ” Even if you were to gather some micro-community like this, your “alternative system” is only as strong as the arms you can wield to defend it from state enforcers. So it would require a massive arsenal of weaponry which would far exceed the humble and hardscrabble promise of self-imposed peasantry in the “agorist” micro-community.” I think you might be underestimating peoples self defense capabilities a little.
The weaponry the military has certainly out guns civilians and they have nukes and drones and all that stuff. But do you really see a military style assault against citizens in the US? There are states who are rebelling against the mandates. There are members of the military against this. I don’t see the military doing this in the US. It’s not easy enough. They would take casualties in a ground assault. What I see unfolding is a civil conflict between states and counties.
A highly skilled military officer with advanced training could gain the upper hand. They want to manage the perception of this operation. An all out massacre would be bad pr.
Delusional.
If you don’t pay taxes to them, they will deploy escalating waves of force as necessary in order to punish, destroy, and make an example out of any such “alternative community.” If even a single armed government agent were killed or wounded in an enforcement action, this would be seen as carte blanche license to the government to lay waste to the entire “agorist settlement.”
Waco and Ruby Ridge weren’t so much “bad PR” as they were “made examples of”.
If this were your outlook, why do you even go on living and bother the rest of us with your boundless negativity? Something doesn’t quite add up about you, does it? You must really want the world to become a totalitarian technocracy. Well, this system will never deliver on the sales pitch you bought. It will simply continue harming innocent children up to the point that it self-destructs.
You can tell posterity how you were cheering on the NWO and failing as a human being. Or were you always “the resistance” once the tide turns?
People will come to their own conclusions.
I know I have.
Here’s what does not add up:
If you believed that the NWO is both inevitable and evil why would you go on living? Wouldn’t you despair and choose suicide?
Either you believe it is not inevitable, which means that all the overstated drama you post is just edgy BS or you pray for it to really come into existence because you think that it would be great.
Either way, I don’t really see a possibility for you to not be a repulsive individual. You are among the ranks of the enemies of humanity and that’s a choice.
I think Fact Checker is talking about the currant rule of Violence the Government is very eager to dish out. I know I worked for the military and the Government contracting after I got out many moons ago. They will create ways just to use their Violence on you.
These days I am not advocating Violence at all for ME and My Family. Can not fight with a bunch of kids under 7. It is more about evading and doing with less since time is against us all.
Nothing negative from those post from Fact Checker only an acknowledgement of the crap we are in. Time to ween off Comfort and learn as much as you can on many subjects.
People just can not see just how bad it is.
You didn’t see many of these FC posts yet, did you?
Look and you’ll see a pattern.
I have. I do not agree with him on all subjects at all. But I know this game of Violence well enough to know how they use it.
I want Unity in our small groups but I am a realist and see it as I see it. I can only hope others see it as well so more longer term plans can be made.
I judge every post for its content and many other posts from Fact Checker I do not agree with but He is making some points on these.
Yes, these are generally the points the WEF makes.
Agenda talking points.
“…this system will … simply continue harming innocent children up to the point that it self-destructs.”
More delusional hopium delirium. This is the big one, for all the cookies. We’re past check-mate, and all this talk of breakaway societies and alternative economies is just sad self-hypnosis.
Aldous Huxley: “There seems to be no good reason why a thoroughly scientific dictatorship should ever be overthrown.”
It is time to gracefully face the facts. There are only a few concrete steps we can take: 1.) accept reality; 2.) resist the injections; 3.) refrain from cursing any more children with birth into this infernal nightmare of pain, terror and certain death; and 4.) try to position oneself for an ethical and swift exit that avoids torture.
Besides refraining from breeding, these seemingly humble goals will become extremely difficult to realize. Very soon all dissidents will be facing brutal, pseudo-medical experimental torture and forced poison injections, and those unfortunate enough to have children will also be saddled with the knowledge that those children have become wards of the cannibalistic State, and that the State will visit torment, violation, and cruelty on them worse than anything we have yet seen. Today’s children will be medically transformed into sub-human fleshpoid pleasure-slaves to Saudi princes, Chinese bureaucrats and WEFster oligarchs.
Wasting time and energy on trying to build A Whole! New! Civilization! is not just futile and silly, but it will inevitably lead to more suffering since it will just create more things that we will witness being destroyed. Worst of all, this style of false hope might persuade people to have more children, who will be nothing more than chattel slaves of tender flesh to be rendered directly upon birth into the merciless maw of the Machine.
“Posterity” will be nothing but broken, benighted sub-human beings whose misery and agony will be so great that the only wish they would have is that they were never born…except they won’t even have ego-boundaries sufficient to be capable of forming thoughts or wishes of their own at all. They will just exist in a state of semi-conscious torment that
Drunk on UNESCO Huxley’s wine again?
Time itself is the reason, I’d tell his brother.
You don’t know the immediate future.
Why pretend?
I happen to know the far out future, though.
All is dust and forgotten, eventually.
I think I will start the process now by forgetting your existence.
I can back your evaluation up.
In my eyes, he is an obvious fearmongerer and most likely paid to deliver his spin.
Just go see what he writes as a response to someone attacking his beloved child at the bottom of the comments section of
“Getting Off the Electrical Grid – #SolutionsWatch”
“Last Humanist”:
“I am ever grateful for the milk and wish the cows well. ”
“..Why do you even go on living and bother the rest of us with your boundless negativity?”
“SOMETHING DOESN’T QUITE ADD UP ABOUT YOU, DOES IT?”
Indeed.
Don’t leave out Wounded Knee.
I would say that if you build up something that serves well a group of people and then if the authority comes to take it away and to destroy it, that is no longer called a civilized society, not even close to anything called a functioning governmental structure. That is rather more close to the utter tyrannical dictatorship, which has no right for existence.
If it is what will hinder you from building something better, then it is already lost, lost inside the head. No wonder that somebody lately in US said (I can not recall at this moment who that was) that the wars of the future will be fought inside the minds.
If anybody can come and take things away just because, then that would be like something the movie Mad Max depicted. The complete lawless anarchy. And yet, it exists in today’s world. Hopefully things like it will be visible for everybody, soon!
Though there are things worth fighting for! Once Ella Baker said: “Give light and people will find the way.”
Joseph: “I would say that if you build up something that serves well a group of people and then if the authority comes to take it away and to destroy it, that is no longer called a civilized society, not even close to anything called a functioning governmental structure.”
You mean like how the government already laid waste to the previously thriving economy of the entire country, under the pretext of “pandemicz!!!1111!!!1”?
We are way past “lawlessness.” We are now in the slaughter phase.
The “functitoning government structure” now only “functions” to grind down and liquidate the masses with a host of merciless kill-and-maim operations. It’s way worse than Mad Max because the full force of the technocratic state is intact and ruthlessly energetic. It’s not “anarchy,” it’s ruthlessly efficient, industrialized, institutionalized democide.
What you describe Joseph is what we have been living in for decades.
Look at the Law system they created over time. Asset Forfeiture and eminent domain come to mind. All backed by real Violence in every case its used. People need to understand the water is boiling not luke warm.
The government does not even react anymore to Shall no infringe. People take Oaths on Imaginary things these days. All I can say it is gonna be hard.
Joseph,
I think it is better to try and put effort in to find alternatives and fight, rather than give up and wallow in fear and anger. A quote by Theodore Roosevelt comes to mind:
“It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat.”
I also agree with you Joseph, most of the battle in the US is for the mind. It is much easier to convince people that they will fail and to give up so that they don’t resist. This is straight out of the art of war.
[SNIP – no URLs without titles and/or explanations of why people should be clicking on them in the comments section. Please repost the link with a title or explanation. -JC]
Interesting article on NFTs – note I do not endorse this article nor , in particular, the author , but it is thought provoking.
“Perhaps this is the key to understanding our time. Those who have been trained to be analytical tend to look backward to find data, proven beliefs, and traditions. The capacity to comprehend the future, though, lies in imaginal acts.”
https://drpippa.substack.com/p/apesht?r=1cbjb&utm_campaign=post&utm_medium=web&utm_source=
From the World Economic Forum…
Climate change: This is the impact of extreme weather events on the economy
https://www.weforum.org/agenda/2021/09/extreme-weather-events-show-that-climate-change-comes-at-a-cost/
Via Nov 22nd WEF Twitter
Disruption can spread rapidly throughout the system.
(90 second video)
https://twitter.com/Geopolitics_Emp/status/1463198380348293130
(H/t ClintTorrez)
Can you read this predigested propaganda and not pre-barf your Thanksgiving dinner??
The Great Reboot
U.S. families plan big holiday celebrations with COVID-19 shots in arms
By Barbara Goldberg
Even so, the return to pre-pandemic traditions is proving complicated for some whose loved ones are choosing not to get vaccinated or do not consider COVID-19 to be a serious health threat.
Connie Perkins, her husband and their three children are skipping their usual Thanksgiving meal with relatives and taking a week-long road trip to campgrounds far from their home in Galveston County, Texas, to avoid any confrontation over vaccination status.
Everyone on her husband’s side of the family is vaccinated against COVID-19, Perkins said, but none of her five-member family is because they do not believe the shots are safe.
The Centers for Disease Control and Prevention says the vaccines are safe and continue to get intensive monitoring.
“We’re not going to present the opportunity for that to even come up and make anyone uncomfortable,” Perkins said.
https://www.reuters.com/world/us/us-families-plan-big-holiday-celebrations-with-covid-19-shots-arms-2021-11-22/
A phrase I learned from my sons just keeps coming to mind.
Circle Jerk.
The Great Game moves to the Pacific.
Potential colour revolution taking place in the Solomon Islands
Background
‘ The Pacific nation’s decision to sever ties with Taiwan reverberated around the world and has had far-reaching consequences inside the country’
https://archive.vn/2B4ut
Latest
“Australia deploys forces to Solomon Islands as protesters burn Chinatown, Parliament”
https://archive.vn/bPMjZ
– Money REFERENCE –
I want to point out that this article “Your Guide to the New Economy” is an excellent bookmark reference tool.
It contains a vast amount of links, especially to Corbett’s previous works on money and the economy.
For the same reasons, I find the following article to be a great
– Climate Change REFERENCE –
“Welcome to the New Economy”
https://www.corbettreport.com/welcome-to-the-new-economy/
I am currently working with a global community of like-minded people to fine-tune a cryptocurrency which has been created with the purpose of serving as a stable means of exchange (as opposed to a speculative token which people would rather hodl) maintaining it’s purchasing power over time.
The first 4 and a half years have passed and it is slowly maturing.
Right now there is a development phase of allowing local tokens to be used for specific Bioregions and it feels like a very good approach.
The name of the project is SEEDS (all capital letters) and the cryptocurrency it uses (which is the global coin, the local tokens are not yet available) is called “Seeds”
Jefferey Jaxen
…and James Corbett’s Documentary
Century of Enslavement: The History of The Federal Reserve
https://www.corbettreport.com/federalreserve/
During the course of putting together some online dissemination pieces, I re-watched
“Century of Enslavement: The History of The Federal Reserve”.
(For those who haven’t read this article, Corbett links it and his many other works surrounding the topic of money.)
At 1:23:22, the screen credits for the transcripts come up. Broc West is mentioned. Jeffrey Jaxen is also mentioned.
???
I’m wondering if this is a mis-spelling of Jefferey Jaxen.
Many of us recognize Jefferey Jaxen from The Highwire.
To establish a truly workable monetary system the logic of money itself must make sense so that the new system does not suffer from the same mistakes made in the past. From the article James states: “It seems that every economic idea and financial concept that is being thrust down our throat these days is an attempt to replace the real world of actual productive activity and physical products with a manipulated, synthetic equivalent. And, worse yet, those synthetic equivalents are not only bereft of any actual value (physical, mental or spiritual)…”
Here is the mistake that we are making – financial and/or monetary units cannot be “equivalents” of the real world activities and products. The monetary units cannot be part of the real world activities and products as though they were commodities equal to other commodities with their own ‘value.’ These units are abstract representations of (if they are to function properly as money in the bookkeeping function they are to perform) the real world activities and products. And as representations of the real world activity and stuff the monetary units cannot BE the real world activity and stuff! So, they cannot actually BE equivalents, synthetic or otherwise, because they are abstract representations of the real, and therefore must necessarily be bereft of ‘actual value.’ Because the value is in the real world activities and stuff. We have to acquire language to accurately reflect that we know what the function of an abstract representational system is and does so that if we choose to use a system of abstract representation of our activity and stuff we do not fall into the illiteracy of thinking that the numbers on our ledger sheets are real things unto themselves.
Here is the suggested way of getting there from the Money Systems Transparency Alliance:
https://www.moneytransparency.com/msta-resolutions
Here is an analysis of how a logical structured system would operate:
https://mrcenter.info/Doc/ConferencePapers/2020/MRC%202020%20A%20systems%20approach%20to%20money_4122020%20rev2_17.01.2021.pdf
Here is the thing, why is it that we must go along with this very archaic and authoritarian notion that the economic unit of acCount must pre-exist and be created separate and apart from any economic activity that it will be used to represent in the abstract? This is a residual thought process and resulting political structure that still mimics the very imperialist system that the colonists were attempting to get free from. They falsely understood the problem to be the moral integrity of the authoritarians running the show. But then they too were authoritarians who held slaves and did not see all people in their social order as equal. So, perhaps had they focused on the structural implications of using an authoritarian system, which cannot help but subjugate the activity of the populace to the whim of the “monetizing authority”, they might have found true liberation for themselves and their enterprise. They unfortunately chose to play a power game with England and then got stuck in that focus of whose ‘authoritarian control’ could create the units of acCount instead of declaring their own free enterprise as the source of, the place of origination of, their own units of acCount. They then enshrined this fatal mistake and focus into the Constitution, and we have been engaged in the good authoritarian/bad authoritarian waste of energy battling over who has control of an illiterate understanding of money itself since that time!
One must first question which comes first within a free society – the freely initiated economic activity of the populace or the units used to record that activity? It is critical to understand freedom and sovereignty, and just basic logic, that ‘free enterprise’ cannot be subjugated to the pre-existence or pre-creation of the units that will record the activity and “value” of that enterprise. The problem we have in America is that having been told by Ben Franklin that we are free because we create our own money “in proportion to the needs of trade and industry” we have not challenged the order in which this whole process occurs. If the enterprise of the populace is dependent on the omniscience of the monetary issuer, or that monetary issuer will only “monetize” certain activity, then the enterprise of the populace Is Not Free. Franklin and the rest of the Founders were, perhaps, not aware of the conundrum they were repeating by holding on to the imperialist notion of precreation of the monetary unit. Holding on to that simple notion subjugates the enterprise to the unit creation process as opposed to having the enterprise activity itself be the thing that calls the monetary units into being.
The distinction is important to any populace that wants genuine sovereignty.
Thursday Dec 2nd – Bloomberg
Enron’s Cast of Characters: Where They Are 20 Years After the Fall
Two decades later, the company’s name is still invoked in shorthand by policymakers and average Americans alike when talking about corporate greed and fraud.
https://archive.md/c2XHv
Wed December 1, 2021 – Zero Hedge
By Bloomberg Markets Live commentators Ye Xie and Amy Li
This $1.6 Trillion Market Could Cease To Exist Soon
https://www.zerohedge.com/markets/16-trillion-market-could-cease-exist-soon
By now, it’s clear that Beijing is greatly discouraging, if not completely forbidding, listings of Chinese tech companies in the U.S. What’s unclear is what Beijing will do with existing Chinese ADRs, an overwhelming majority of which used variable-interest entities to circumvent Chinese laws to get listed.
Even if Beijing doesn’t demand the likes of Alibaba and Baidu dismantle their VIEs immediately, the authorities have signaled that Hong Kong, instead of New York, is now the preferred capital market for China Inc. Over time, the $1.6 trillion ADR market may become a footnote in history books.
Bloomberg reported that China plans to ban companies from listing overseas through VIEs. But companies using such structures would still be allowed to pursue IPOs in Hong Kong, subject to regulatory approval. The China Securities Regulatory Commission quickly denied the report, without giving details.
The controversial VIE structure, designed to bypass Chinese restrictions on foreign investment in sensitive sectors including the internet industry, has been used by most Chinese ADRs for decades. It allows a Chinese firm to transfer profits to an offshore entity, whose shares foreign investors can own. There’s always been an argument over why the best companies should be allowed to skirt Chinese laws and enrich foreigners, while depriving local investors opportunities to benefit from the crown jewels of the economy. As Paul Gillis, professor at Peking University, put it bluntly: “The VIE has always made a mockery of rule of law in China.”….
Variable Interest Entity (VIE)
https://www.investopedia.com/terms/v/variable-interest-entity.asp
American Depositary Receipt (ADR)
https://www.investopedia.com/terms/a/adr.asp
Friday Dec 3rd
Didi Shares Jump After Company Unveils US Delisting, Plans For Hong Kong Debut
https://www.zerohedge.com/markets/didi-shares-jump-us-delisting-plans-hong-kong-debut
Didi Global Inc. shares trading in New York jumped as much as 14% premarket after it said it would begin to delist from U.S. stock exchanges and list in Hong Kong.
According to a company press release, the ride-hailing giant’s board of directors “has authorized and supports the Company to undertake the necessary procedures and file the relevant application(s) for the delisting of the Company’s ADSs from the New York Stock Exchange, while ensuring that ADSs will be convertible into freely tradable shares of the Company on another internationally recognized stock exchange at the election of ADS holders.”
“The Board has also authorized the Company to pursue a listing of its Class A ordinary shares on the Main Board of the Hong Kong Stock Exchange,” the press release continued.
The move comes after the Cyberspace Administration of China requested Didi’s top executives to develop a plan to delist from U.S. stock exchanges last week due to concerns about leakage of sensitive information.
A delisting from the NYSE could spell trouble for U.S.-listed Chinese firms as Sino-U.S. tensions heat up. What may follow could be a series of US-to-China transfers.
Indeed, as noted recently, two decades of Chinese firms listing on U.S. exchanges could be coming to a close, as Beijing seeks to crack down on variable interest entities (VIE), a loophole used by tech companies to raise billions of dollars in capital from overseas investors….