Global Ruling Class: Billionaires and How They ‘Made It’

[Wiley50]

Even as the world's billionaires grew in number from 793 in 2006 to 946 this year, major mass uprisings became commonplace in China and India. In India, which has the highest number of billionaires (36) in Asia with total wealth of $191 billion, 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 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 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 per cent year to year topping $3.5 trillion, while income levels for the lower 55 per cent 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 per cent 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 per cent) 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.Virtually all the billionaires' initial sources of wealth had nothing to do with building, innovating or developing new efficient enterprises. Wealth was not transferred to high Communist Party Commissars (lateral transfers) but was seized by armed private mafias run by recent university graduates who quickly capitalized on corrupting, intimidating or assassinating senior officials in the state and benefiting from Boris Yeltsin's mindless contracting of 'free market' Western consultants.

Forbes magazine puts out a yearly list of the richest individuals and families in the world. What is most amusing about the famous Forbes magazine's background biographical notes on the Russian oligarchs is the constant reference to their source of wealth as 'self-made' as if stealing state property created by and defended for over 70 years by the sweat and blood of the Russian people was the result of the entrepreneurial skills of thugs in their twenties. Of the top eight Russian billionaire oligarchs, all got their start from strong-arming their rivals, setting up 'paper banks' and taking over aluminum, oil, gas, nickel and steel production and the export of bauxite, iron and other minerals. Every sector of the former Communist economy was pillaged by the new billionaires: Construction, telecommunications, chemicals, real estate, agriculture, vodka, foods, land, media, automobiles, airlines etc..

MUCH MORE

http://www.globalresearch.ca/index.php?context=viewArticle&code=PET20070323&articleId=5159

[tanyev]

1. If gets too bad, people in Russia and China will start wondering

why they wanted to get rid of Communism. Ironic.

[Warpy]

2. What causes poverty?

Overconcentration of wealth through unregulated capitalism.

Any questions?

[truebrit71]

3. One. How the heck do we get people to understand that..

...and then vote in such a way to impact that?

[Wiley50]

4. shameless kick n/t

[malaise]

5. Criminals all

Good read -thanks.

[Wiley50]

6. .

[Robson]

7. Bend over and grab your ankles

Forbes magazine puts out a yearly list of the richest individuals and families in the world. What is most amusing about the famous Forbes magazine's background biographical notes on the Russian oligarchs is the constant reference to their source of wealth as 'self-made' as if stealing state property created by and defended for over 70 years by the sweat and blood of the Russian people was the result of the entrepreneurial skills of thugs in their twenties.

I suggest that we get ready to bend over and grab our US ankles. We're seeing a growing trend in the USA to sell of the people's assets to private enterprise and their cronies. They call it privatization. If we don't put a stop to that immediately, we'll be in the same boat as the Russians, and creating more billionaire oligarches to politically connected cronies on our sweat. Highways, social security funds, park and forest land are but two examples.

[entanglement]

8. Most people don't realize the vast scale of the looting carried out by the Russian Oligarchs

It has few parallels in history.

[WinkyDink]

12. Hey! St. Ronnie defeated Communism! It's a Capitalist paradise now!

[seemslikeadream]

9. W. R. Grace = Cheney = Asbestos

:hi:

[rman]

10. What, no recommendations?

[Robson]

13. Agree

It could use some discussion from both the historical perspective in Russia, and the potential threat to the USA courtesy of corrupt politicians that wish to help their friends gain access to the assets that our nation has accumulated over 225 years.

[entanglement]

14. Ok, it has one more now

:)

[WinkyDink]

11. A perfect description of Bushco, as well. Including the pillaging of Iraq

and Afghanistan.

Key phrase: "thugs in their twenties". THESE are the front-lines of Bushco, most prominent in the Miami-Dade recount-stopping. THESE are the vocal males who define "Republican" as "masculine, powerful" and "Democratic" as "weak, treasonous, pathetic". HOWEVER, the vast majority will NOT join the military, as THAT is for economic "losers".
I loathe them all.

[Zodiak]

15. 946 people

rule over all of us.

Something gives me the feeling that their "fun times" are going to end with poor, desperate people spilling over their gated walls to tear them limb from limb with their teeth. This is not going to last forever, and even though we Americans are cowards who bow and scrape to our masters, the rest of the world historically does not.

Economic equality can only last so long, then we will enter another period of sporadic, worldwide revolution.

[cassiepriam]

16. Yes the global rulers who call all the shots. We are just puppets.