May 17th, 2007Global Ruling Class: Billionaires and How They ‘Made It’
While the number of the world’s billionaires grew from 793 in 2006 to 946 this year, major mass uprisings became commonplace occurrences in China and India.
In India, which has the highest number of billionaires (36) in Asia with total wealth of $191 billion USD, Prime Minister Singh declared that the greatest single threat to ‘India’s security’ were the Maoist led guerrilla armies and mass movements in the poorest parts of the country. In China, with 20 billionaires with $29.4 billion USD net worth, the new rulers, confronting nearly a hundred thousand reported riots and protests, have increased the number of armed special anti-riot militia a hundred fold, and increased spending for the rural poor by $10 billion USD in the hopes of lessening the monstrous class inequalities and heading off a mass upheaval.
The total wealth of this global ruling class grew 35% year to year topping $3.5 trillion USD, while income levels for the lower 55% of the world’s 6-billion-strong population declined or stagnated. Put another way, one hundred millionth of the world’s population (1/100,000,000) owns more than over 3 billion people. Over half of the current billionaires (523) came from just 3 countries: the US (415), Germany (55) and Russia (53). The 35% increase in wealth mostly came from speculation on equity markets, real estate and commodity trading, rather than from technical innovations, investments in job-creating industries or social services.
Among the newest, youngest and fastest-growing group of billionaires, the Russian oligarchy stands out for its most rapacious beginnings. Over two-thirds (67%) of the current Russian billionaire oligarchs began their concentration of wealth in their mid to early twenties. During the infamous decade of the 1990’s under the quasi-dictatorial rule of Boris Yeltsin and his US-directed economic advisers, Anatoly Chubais and Yegor Gaidar the entire Russian economy was put up for sale for a ‘political price’, which was far below its real value. Without exception, the transfers of property were achieved through gangster tactics – assassinations, massive theft, and seizure of state resources, illicit stock manipulation and buyouts. The future billionaires stripped the Russian state of over a trillion dollars worth of factories, transport, oil, gas, iron, coal and other formerly state-owned resources.
Contrary to European and US publicists, on the Right and Left, very few of the top former Communist leaders are found among the current Russian billionaire oligarchy. Secondly, contrary to the spin-masters’ claims of ‘communist inefficiencies’, the former Soviet Union developed mines, factories, energy enterprises were profitable and competitive, before they were taken over by the new oligarchs. This is evident in the massive private wealth that was accumulated in less than a decade by these gangster-businessmen.
Once upon a time, deep in the forests of Burgundy, a man was haunted by a vision. He dreamed of building a castle, with turrets, great walls and a moat. Some people wondered if he was mad. This was, after all, 1996. And yet Michel Guyot set out to build his castle the hard way — the medieval way. With only hammers and chisels to carve the stones. With only horses to cart the rock. Without power tools.
The Max Headroom Pirating Incident occurred on Sunday November 22, 1987 and is an example of broadcast signal intrusion. The first occurrence of the signal hijack occurred during WGN-TV’s 9:00 News. During Bears Highlights in the Sports report the signal was interrupted by a video of a person wearing a Max Headroom mask in front of a swaying sheet of corrugated metal. There was no audio. The hijack was stopped after only 20 seconds when WGN switched transmission from the Sears Tower to the John Hancock Center. The incident left sports reporter Dan Roan flustered.
Mary and Ray Smith can’t make heads or tails of a new presidential dollar coin they found last week. It doesn’t have either. A week after the revelation that some of the coins slipped out of the U.S. Mint without “In God We Trust” stamped on the edge, the Smiths said Tuesday they found one with nothing stamped on either flat side.
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