Oligarchy 101

The BBC recently reported that 5 banks, JPMorgan, Barclays, Citigroup, RBS, and UBS, have been fined for rigging the FOREX market. The Foreign Exchange market is extremely volatile and moves trillions of dollars in currency every day. Traders from these banks collaborated to artificially drive up prices at 4pm London (UK) time. Since these traders had foreknowledge of the price movement, they could enter their position earlier in the day and profit. While this makes little difference to long term position traders, it would absolutely murder day traders. Even non day traders with small accounts risked a margin call and thus potentially faced financial jeopardy.

I personally think that the total $5b fine is a mere slap on the wrist as I have personally known many traders (friends of my family) that have lost a lot of money in the FOREX market. It enrages me that these fat cats callously disregard the financial future of ordinary folk only to get away with paltry fines.

fat cats

To add insult to injury, these traders collaborated their scheme in a chat-room shamelessly called ‘The Cartel.’ “They acted as partners – rather than competitors – in an effort to push the exchange rate in directions favourable to their banks but detrimental to many others,” said US attorney-general Loretta Lynch. Publicly competitors, privately partners; oligarchy at its finest.

It seems that leftists are not the only ones who despise the free market, the fat cats loathe it in equal measure, which is why they strive to manipulate it. When I see a price chart for any commodity, I do not see Capitalism, I see integrity. I see a price that honestly reflects economic realities which have resulted in buyers and sellers arriving at a fair equilibrium. Perhaps I am an old fashioned Capitalist, but that is how I think. To my mind, an attack against the free market is an attack against Capitalism; and an attack against Capitalism is an attack against the Western values of integrity, self-reliance, and hard work upon which it stands. Given that our elites financially support Multiculturalism , Feminism, and homosexual degeneracy, it seems that they never liked Western values to begin with.

What strikes me as particularly horrifying is the manner in which our elites not only network with one another domestically, but also internationally. American elites collaborating with British elites with scant regard for their own governments and countrymen whom they cheat with impunity. Gone are the days of Henry Ford and Andrew Carnegie who held themselves up to a higher standard. Today’s morally bankrupt anglosphere elites require constant policing, and sometimes even that is not enough. We can only hope that after this incident things might turn around for the better, but I wouldn’t hold my breath.

 

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This entry was posted in conservative values, Cultural Marxism, Economics, Europe, Feminism, Homosexuals, Immigration, Uncategorized, Western Values and tagged , , , . Bookmark the permalink.

8 Responses to Oligarchy 101

  1. Ezra Pound's Ghost says:

    If you don’t see a direct link between Capitalism and feminism, multiculturalism, open borders, homosexual militancy, etc., you need to open your eyes. Traditional beliefs and values stand in the way of total “market” rule – as long as people have traditional beliefs and values, they will not allow themselves to be made absolute subjects of pure market rationalization (i.e., they will not sell out their faith, folk and family for market advantages). That is why “Capitalists” have been at the forefront of battering down traditional Western values – as long as people have traditional beliefs and values, the power of the pure “market” (i.e., those who control the market) is checked. Our parasitic elites do not actually believe in any of the rhetoric, ideology or propaganda of leftist-progressive-‘liberalism’ – they just know that these are the best methods of liquidating an old civilizational model as preparation for implementing a new one – a completely “rationalized” (inhuman) system of abstract rule by positive prescription, i.e., no human agency for anyone, ever again, except on the part of the rulers. Your “human agency” is slated to be terminated and replaced with pure market calculation, and that can’t happen until you abandon your traditional beliefs and the best way to get you to do that is by getting to you let go of your “irrational hang-ups” about traditional ways of life, like traditional sex roles and national sovereignty.

    • Dota says:

      If you don’t see a direct link between Capitalism and feminism, multiculturalism, open borders, homosexual militancy, etc., you need to open your eyes.

      I do see the link.

      Global corporatism and Communism are actually quite similar in nature. In both cases, its a small elite (whether corporate or state) that monopolizes resources and distributes economic output to the many. I suspect even leftists secretly realize that their ideologies are actually a charade to further the aims of the plutocracy by making society more malleable (via feminism/multiculturalism ect).

      The Capitalism that Smith had in mind was not globalism, but was a very localized system. Globalism was spawned by the mass production innovations of the 19th century.

    • Bay Area Guy says:

      Interestingly enough, far-left journalist Glenn Greenwald has written an article about how our elites embrace social justice causes as a means of augmenting their power and sanitizing their crimes.

      https://firstlook.org/theintercept/2015/05/18/exploitation-social-issues-generate-support-militarism-imperialism/

      He focuses on surveillance and militarism, but one could easily add crony capitalism/plutocracy to the list.

      As much as we rail on SJWs and the like, the fundamental problem plaguing Western societies are rootless, avaricious, and amoral elites. Sam Francis was right when he insisted that corporations have no souls or loyalties, and I think this applies to elites of all stripes. At least here in the Anglosphere, that is.

  2. Ex-Liberal says:

    This is just the latest example of attacking the financial well being of the West and profiting from it, I don’t think anything will really come from this accept the fines, which have merely become the cost of doing business.

    Greece seems to be a good example of this where Goldman Sachs helped it’s corrupt leaders lead the country to join the EU to enable it to go on a debt filled frenzy, most likely to enrich it’s elites. The public coffers of the country have now been raided to cover for this waste of the elites profligacy. Worse still is that all of this debt has been packaged together as derivatives, which make up a huge part of Bank balance sheets. Deutsche Bank, for instance, is reported to have derivatives valued to be in excess of the entire EU economy. If Greece were to default, then the derivatives should lose value along with the books of the “To Big to Fail Banks.” I think Western Elites will not let Greece default or leave the EU, at least not without a fight. They will be held in depression conditions to continue this market.

    Despite all of this, I don’t hate capitalism, since it is one of the reasons that the West became so rich. All of this is a perversion of these systems. Economics should be a social science, since it contains ideas such as supply and demand which I would say that all of nature is subject too. The cronies in charge are subject to them as well.

    I have been thinking that the only way for the current order to end is for a messy collapse of Western financial power. They have been destroying the structure that supports them. I wish there had been some awareness beforehand of the treason committed by Western elites, but it seems to be too late for that. We appear to be headed for financial ruin. However, this blog has made the point that it requires relentless propaganda to keep this system going and without financial support, the propaganda should cease. Perhaps the upside is that we could be looking at the end of the current order.

    • batterytrain says:

      Capitalism is fundamentally non-racial and anti–white; capitalism did not bring all that wealth to the west, white opportunism, exploitation, and creativity did. Capitalism allows Jews to exploit and control White societies.

      • Dota says:

        As I’ve pointed out before, Capitalism was merely the economic extension of classical liberalism. It’s capitalism + mass production (ie consumerism) that’s the problem.

  3. Pingback: Robert Stark interviews Dota about Oligarchy & National Capitalism « Attack the System

  4. Pingback: Beyond Highbrow - Robert Lindsay

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