I deliberated long and hard about using ‘Toxic’ in the title and even turned to the dictionary. This decided me (The Free Dictionary by Farlex):
3a. Extremely risky or harmful, as a debt for which the borrower is in default and the collateral has lost so much value that its sale cannot cover the amount of the loan.
3b. Causing social tension or unpleasantness.
A ‘Monopoly’ is something we are very wary of because we know from bitter experience it generates a level of power over the users of services and goods that becomes increasingly uncompetitive and expensive.
Big Pharma is a good example, where (patented) life giving drugs are price fixed to (often) put them out of the reach of the very people they should be helping. The AIDs virus was one such case, particularly in Africa, where it was rife and standards of living were amongst the poorest in the world.
This pales into insignificance however, compared to our global private banking system. They too have ‘patented’ money and become the exclusive suppliers of 97% of the world’s currencies and cash. It is by far and away the biggest monopoly within our species.
We know how toxic monopolies can become and regularly introduce laws to restrict such practices. The sheer size and power of global banking demonstrates how ineffective we are in this endeavour.
Whilst Big Pharma create exclusivity to price fix their products for maximum profit, private global banking is amassing vast powers over the global population from debt, which also produces elephantine profits for them.
Monopoly ignites human fallibility to abuse and greed and power are the ultimate fuel. We have seen this power at work in 2015 when unelected representatives, the Troika, brought Greece to its knees, shocking the world in the process. This is the power of debt at work in all its uncloaked savagery and witness to control by monopoly.
Monopoly often goes beyond what many people are aware of and is best described with the many levels of abuse on Society through Student Debt. To start with there is the moral issue, which seeks to make money out of our young before they even have the means to financially stand on their own two feet.
This helps consolidate the monopoly position of private banks in several ways. Firstly, it places students under financial obligation and gets then used to debt at an early age, conditioning them to a mental frame of mind that accepts debt as the primary means by which to finance their future lives.
Secondly it indentures them into an already financially controlled Society, ensuring they feel they are in a ‘normal’ environment where the payment of interest, for the use of the money in their pockets and bank accounts, is paramount.
Thirdly, this monopoly environment begins to reach into other areas of their lives. It is now the (ludicrously narrow) yardstick by which characters are assessed, even to the extent of how credit worthiness can affect suitability for a job – to hell with an expensive university education!
Sadly, this monopoly is strengthened by our governments who have been inveigled into supporting this lending as the ‘retailers’ of the money, borrowed from the banks and put out in grants, hoping to make a profit on the deal. “Wait a minute” I hear you say, “This is a good thing as government makes a profits that benefit taxpayers!”
Sadly, it is now becoming apparent that their inability to create employment is seeing a growing number of students unable now to repay the loans. In the UK in 2015, government set aside £2bn a year to cover student loan write down. 45% of loans are now anticipated will be written off . . . It was $3billion in the first three months of 2013 in US!
This means that instead of a profit for taxpayers they will yet again be contributing to the profits of private banks. The students cannot be made to repay the debt but government can, with taxpayer money, because they too are indentured by the power of this global monopoly, whose concern is only ever the payment of their profit/interest.
We can see through this one example, how the toxic power of monopoly can cause multiple abuse. Here, in addition to the enslavement of the young, public money is intertwined with commercial practice to underwrite guaranteed profits for private banks, when it has actually been raised to provide public services to support Society.
I have tried here to illustrate how pervasive debt has become within our Society, from a monopoly control that we have known for centuries is both abusive and destructive. In Part 2 I will take another closer look at the private banking system, to illustrate the toxic affect that monopoly has upon our future as a species, by controlling Life through frighteningly narrow constraints.
Awareness breeds understanding and understanding breeds change.
Until the next time.
Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes