Wealth Registries:  Opposing Rule of Wealth Is Not Communism

I believe in an even playing field.  I don’t believe in egalitarianism.

Undue advantages compound.  Inequality leads to imbalances of wealth, power, and taxation.  Wealth usually breeds wealth, and power often breeds power, in a positive feedback loop.

If inequality compounds over time, it is prudent to ask how far we let it run.  We should know how far it has compounded already, and then consider constraints, like fairer taxation.  Communist equality is not the only alternative to unlimited wealth and power.

Wealth is not a scientific fact, it is a social convention, which has a cost, and which cannot exist without a supportive society to defend it and to defend itself with lives.

If wealth is used primarily to advance it’s interests at the expense of everyone else, then everyone else does not owe it defend their wealth.   But if wealth is used to advance society in balance with its own immediate interests, I’ll be the first to defend it.  I think we’re far from that.

The BIG money is hidden, behind layers of lawyers, trusts, offshore companies, and private corporations.  People we will never see are ruling our countries in secret.  I ask only to know the wealth that rules over me, and permit me to judge whether that rule is in my interest.

Media Manipulation or Deceiving You to Support TSIS

I just read “Trust me I’m Lying” by Ryan Holiday, and wow, it’s the strongest argument possible for TSIS optimal information sharing.  It’s also a tutorial for manipulating the media and public opinion for exposure.  Because you have to.

Holiday explains exactly what’s wrong with the internet blog economy.  Content producers are paid by the click, so they’ll do anything to get you to click, and there’s no penalty for publishing garbage and lies.  In fact, there are huge incentives and no disincentives, assuming you’re willing to double down dirty when you get caught.

This is exactly what TSIS optimal information sharing is about.  It’s not just integrity (identity validation, traceback, ratings and criticism outside the control of the source).  It’s also about incentives aligned with the reader rather than the content producer, with rewards according to reader value ratings, including subsequent ratings of criticism and corrections.

Holiday explains that lies become truth by repetition as they spread, and even reputable news agencies get sucked in because they don’t have the time and money to check, and they can’t afford to wait and miss the hot news that brings readers back.

I hate to admit it, but Holiday convinced me to use a little something something from his catalog of manipulation strategies, because 20 minutes of boring videos may  not get the attention that TSIS needs to make a difference.  I’m not saying that we should baldly lie to the world, but we have to target what makes people click and watch and comment and get involved, like everybody else.  Or die.

Thanks to Matt Mainville for the best book recommendation ever!

the BIG Money strategy

TSIS proposes “wealth registries” to shed light on the strong antidemocratic forces that seem to rule our world.  It’s not anti-wealth, it’s anti-anti-democracy.

Arguably 2/3 of global wealth belongs to powerful people that we know little or nothing about, hidden behind layer upon layer of lawyers, trusts, offshore holdings, and private corporations.  It can have tremendous influence on government and media (especially if they own it), and it often has a different agenda than the rest of us.  We should keep an eye on these huge interests.  Their wealth is not possible without the stable societies we maintain and the borders we defend, sometimes with our lives.

Let me explain why this is so important for the stability and well-being of our world.  It’s the biggest financial story on earth, hiding in plain sight.

Few people realize that the 2008 debt crisis is not over.  In fact, it’s worse.  The “rescue” just hid the problem with endless free money, and money equates to debt in our perverse monetary system, dollar for dollar.  The debt “rescue” created a global dependence on zero interest rates, drawing people farther and farther into debt, such as to buy a home before prices get out of reach.  After a decade of free money, we have twice the global debt, according to McKinsey consulting, and far more than twice the instability.  How can you solve a debt problem with twice the debt?  The “rescue” also handed out $22 trillion to BIG money around the world, which they could lever up 10 to 200 times, and crush their competition and especially the middle class.   This has pulled  voters toward  political extremes, such as  Donald Trump for instance.  Dr Ben Hunt wrote a great article explaining how this came about.

Friends know that I  believe the 2008 debt crisis was planned for the benefit of BIG money.  You can laugh that I’m a conspiracy nut, but I nailed the 2008 debt crisis because of it.  That February, before a single thing hit the news, I saw a crisis coming plain as day, before even the US Fed supposedly did.   I moved all my wealth to the safest bank I could find, and invested so heavily in gold that my brokerage sent a warning letter about imprudent investment.  I was so scared because I could see it was *on purpose*.

When the crisis hit, I watched and became even more convinced that it was a setup to benefit BIG money, especially in the USA.  The crisis “justified” a decade of 0% interest rates, which mostly went to the BIG money that caused the problem.  In the US there was $5T in TARP and other “get out of jail free” rescues designed by bankers, plus $9T in Summers-Geitner, for a total bailout equal to the US Federal debt at the time, plus letting the big banks rewrite the banking rules to kill off 11,000 of the 15,000 midsize banks in the US … the list goes on and on. Nobody seems to know all this. Nobody understands Summers-Geitner, the biggest bailout of all time, which was so corrupt it’s unbelievable. It allowed banks to create a separate hedge fund with no assets, and buy their own toxic assets with US Treasury guarantees!  They got to pay themselves nearly full price for their shady debt, at taxpayer’s risk and expense.  Was there a recovery?  No.   I said there wouldn’t be, as did my favorite economists.  The money didn’t go to taxpayers to get the economy going, it went to the BIG money to buy more stuff, with leverage.   It is clear that they didn’t want a recovery, they wanted the money taps turned on hard and long for themselves.

Dr Hunt thinks that the instability has been caused by psychopathic politicians pursuing short term gains. I look at copious evidence, not just the 2008 rescue, and think it’s BIG money planning to subjugate national currencies and thus financial sovereignty and thus democracy.  Democracies have long since ceased being functional, this would simply make it more formal and irreversible.

BIG money has come at this from other angles too, like the TPP treaty, 85% of which was initially ‘investor rights’, to put BIG money ahead of sovereign governments (corporations could sue for any law that reduces profits). Similarly, Chomski’s “Requiem for The American Dream” explains 10 more such angles.  If you truly understand these things, and still think I’m a nutbar, I think you’re willfully blind.  Yes, opinions like mine have been associated with wild eyed gold bugs, and antisemitic canards, but I’m convinced that I’ve considered both sides of the equation.

I think we’re on the verge of trouble again, unless something changes.  Debt levels are higher than ever in history, and interest rates are crawling up.  The BIS reports that over 1/8 of public companies are “zombie corporations”, unable to cover their debt payments. What happens when the economy slows?

For Canadians

It’s funny being Canadian, because we think that we are above all this.  Unfortunately, our central bank and financial regulators fed us a lie in 2008, and we still haven’t noticed it.  It couldn’t be clearer.

* We were told Canadian banks needed no bailouts in 2008 because they were more prudent. There was actually a huge hidden $144 billion bailout, and an independent audit showed that 3 of the 5 big banks were under water in the crisis (bankrupt)!

* Canada may now have the 4th riskiest banking sector in the world, according to the Bank for International Settlement or BIS, sort of the central bank for central banks  (I can’t find the analysis on their site).

* Canada has the most dangerous housing sector in the world, according to the BIS, (see table 1).

* Nearly half of Canadians could not cope with a delay of one week’s pay.

Canadians think we’re squeaky clean, but we are a top global haven for hiding wealth and especially criminal proceeds, due to an extreme  lack of transparency and oversight.  It’s so prevalent in Canada that there’s a special name for it, “snow washing”:

I contacted the Bank of Canada to ask about their short term (crisis) plan and long term (solution) plan for a debt crisis. They said they were monitoring and modeling, which is to say that have no plans.  After insisting Canadians deserve to know there’s a plan instead of another “oops! a crisis?”, they said they would never answer my emails again.  As I say, I think BIG money runs central banks.

October 1 status (happy birthday TSIS!)

The videos and website are ready for sharing,  to benefit from more viewpoints.  The objective now is to create a community to refine the functionality and plan around building it  (project phasing, and roll-out strategies).  An exciting time!