Monday, January 23, 2012

Stunning: Elitists Are Planning on Taking Down Capitalism

This is very serious. The elitist power grab is going right at the heart of capitalism. Of course, they have always been for central control, with them in control, but now they are calling out capitalism, directly. as an inferior product.

On Friday, I attacked Larry Summers for blaming the current crisis on capitalism. I thought he was a lone wolf attempting to see how far the anti-capitalist agenda could be pushed. I was wrong.

It appears Summers simply fired the first shot in a new aggressive move by elitists to discredit capitalism outright. The elitists are gathering in Davos, Switzerland right now for the 2012 World Economic Forum.

Check out this horrifying report from AFP on the Summit (my emphasis):
Economic and political elites meeting this week at the Swiss resort of Davos will be asked to urgently find ways to reform a capitalist system that has been described as "outdated and crumbling."

"We have a general morality gap, we are over-leveraged, we have neglected to invest in the future, we have undermined social coherence, and we are in danger of completely losing the confidence of future generations," said Klaus Schwab, host and founder of the annual World Economic Forum.

"Solving problems in the context of outdated and crumbling models will only dig us deeper into the hole.

"We are in an era of profound change that urgently requires new ways of thinking instead of more business-as-usual," the 73-year-old said, adding that "capitalism in its current form, has no place in the world around us."

Some 1,600 economic and political leaders, including 40 heads of states and governments, will be asked to come up with new ideas as they converge at eastern Switzerland's chic ski station for the 42nd edition of the five-day World Economic Forum which opens Wednesday.
From a press release on the Davos forum:

  •  The Davos Open Forum celebrates its 10th anniversary with a programme including a top-level debate on the future of capitalism

As I pointed out in my comment on Summers, capitalism has nothing to do with the current crisis. It is the interventionist measures (especially central banking) that have caused the current crisis. These measure have distorted capitalism and yet these elitist schemers, who are largely to blame for the crisis, have the chutzpah to blame the crisis on capitalism and to call for more interventions that will benefit no one but the elitist themselves.

Folks, it looks like they are going for the BIG GRAB. Not good. Not good at all.

Among those expected to be in Davos are:

IMF Managing Director Christine Lagarde

Greenpeace Executive Director Kumi Naidoo

World Bank President Robert Zoellick

Bill Gates

UK Prime Minister David Cameron

U.S. Senator John McCain (R-AZ)

Nouriel Roubini. Professor at Stern School, NYU, Chairman of Roubini Global Economics

Ehud Barak, Deputy Prime Minister and Minister of Defence of Israel

Gordon Brown, Prime Minister of the United Kingdom (2007-2010)

Jean-Claude Trichet, President of the European Central Bank (2003-2011)

Sheryl Sandberg, Chief Operating Officer, Facebook

Sean Parker--Napster, Plaxo, Facebook, Causes, Spotify & Airtime

Peter Voser, Chief Executive Officer,  Royal Dutch Shell

Ed Miliband, Leader, Labour Party, United Kingdom

Paul Polman, Chief Executive Officer ,Unilever

Vikram Pandit, Chief Executive Officer Citi

Yasuchika Hasegawa, President and Chief Executive Officer
Takeda Pharmaceutical

Peter Brabeck-Letmathe, Chairman of the Board, Nestlé, Switzerland

Nabil Elaraby,Secretary General of the League of Arab States.

Bill Gross, Founder of Technology Incubator Idealab

Michael Dell

Xavier Sala-i-Martin,Professor of Economics at Columbia University.

Tony Blair Office

Congressman Darrell Issa

Raila Amolo Odinga, Prime Minister of the Republic of Kenya.

Neelie Kroes Vice President of the European Commission, "responsible for the Digital Agenda for Europe".

Pete Cashmore, CEO and Founder of

Joseph E. Stiglitz

Paul Allen

Goodluck Jonathan,President of the Federal Republic of Nigeria

Michael Porter, Bishop William Lawrence University Professor, Harvard Business School. Director, Institute for Strategy and Competitiveness.

Shadi Hamid Director of Research at the Brookings Doha Center & Fellow at the Saban Center for Middle East Policy at the Brookings Institution.

Bruno Ferrari,Secretario de Economía de México

Mabel van Oranje, CEO of @TheElders. Co-chair of the European Council on Foreign Relations

And apologist reporters for the elitists:

Tina Brown, editor-in-chief of The Daily Beast and Newsweek.

Andrew Ross Sorkin New York Times Columnist & CNBC Squawk Box

Maria Bartiromo, Anchor CNBC Closing Bell

Alan Murray, Wall Street Journal Deputy Managing Editor and Executive Editor Online

Thomas L. Friedman NY Times columnist

Felix Salmon, Reuters

Henry Blodget, Business Insider

Here are the Strategic Partners of the Forum:

Abraaj Capital
Accel Partners
Adecco Group
Adobe Systems Incorporated
Apax Partners
Bahrain Economic Development Board
Bahrain Mumtalakat Holding Company
Bain & Company
Bank of America
Basic Element
Bill & Melinda Gates Foundation
Booz & Company
BP Plc
Burda Media
CA Technologies
Clayton, Dubilier & Rice, LLC
Clifford Chance
Credit Suisse
Deutsche Bank
Deutsche Post DHL
Dogus Group
Ernst & Young
Eskom Holdings SOC Limited
Fluor Corporation
Goldman Sachs
Hanwha Group
HCL Technologies Ltd
Heidrick & Struggles
Hewlett-Packard Company
Huawei Technologies
Intel Corporation
JPMorgan Chase & Co.
KPMG International
Kudelski Group
Mahindra Satyam
Marsh & McLennan Companies (MMCo)
McKinsey & Company
Microsoft Corporation
Mitsubishi Corporation
Morgan Stanley
National Bank of Kuwait
Nike Inc.
Nomura Holdings
NYSE Euronext
Omnicom Group
Publicis Groupe
Reliance Industries
Renault-Nissan Alliance
Roland Berger Strategy Consultants
Saudi Basic Industries Corporation (SABIC)
SK Group
Standard Chartered
Swiss International Air Lines
Swiss Re
System Capital Management
Takeda Pharmaceutical
Tata Consultancy Services
The Boston Consulting Group
The Coca-Cola Company
The Dow Chemical Company
The Olayan Group
Thomson Reuters
Troika Dialog
Visa Inc.
Vision 3
Volkswagen AG
VTB Bank
Zurich Financial Services


  1. Yep, I saw that story. I literally had to take a step away from my desk and just breath for a minute.

    There is plenty of anti-capitalist sentiment in this country, as well as a growing trend of centralization in many forms. I think that the elite are convinced that the time is ripe to make the big push in the near future.

  2. Haven't read the AFP article yet but one thing he's right about. They ARE over-leveraged and they're fighting like hell to keep their fake leveraged wealth from deleveraging at the expense everyone else including their fellow over-leveraged elites.

  3. When people blame capitalism, I like to respond by defining what capitalism is for them. "Capitalism is an economic system whereby individuals direct their capital in ways that they see fit." Then follow up question "Are you blaming capitalism because you don't like the choices people have made with their capital or do you not like that people are free to choose what they can do with it?" Besides the people who just hate the idea of capital (property), a person who blames capitalism is only ever blaming freedom or the particular results of freedom.

    These statements from Davos give me a little hope. Basically a bunch of Establishment people have gotten together and are saying "the problem is not us, it's freedom. Freedom has no place in society." That means freedom is winning.

  4. "capitalism in its current form, has no place in the world around us."

    Perhaps he was referring to crony capitalism ;).

  5. Listening to Larry Summers is like taking advice from a pimp. Aside from that, I wish Larry all the best. I just wish these people would self-destruct politically and take their control-freak influence where it does far less harm.

  6. "World Economic Forum" is a euphemism for "hegemony" if there ever was one.....

    @Anonymous 5:42 AM,

    Well said.

  7. "capitalism in its current form, has no place in the world around us."


  8. @Anon 5:59 am, yes, I was thinking that, too. If you add the word "crony"in front of each of his uses of "capitalism", suddenly I agree with Klaus 100%!

  9. @anonymous of 07:11am

    As the great historian Acton once said.
    "The danger is not that a particular class is unfit to govern. Every class is unfit to govern."

  10. The problem isn't capitalism, its market intervention and manipulation that have created extreme distortions that have produced the unsolvable problems the interventionist now face. The crux of the problem for the elites is that both interventionism and manipulation require a high degree of information asymmetry in the market place. Thanks to the internet and the blogasphere that asymmetry is rapidly disappearing. If I want to understand what's going on I can go to EPJ, Zerohedge, Mish, SafeHarbor, Actingman, etc and gain knowledge to something that only the elites had privy to in the past. Its why the guy in the street is buying Gold and sitting on cash then taking risk. People are slowly realizing that they are playing in a rigged casino. Nothing is what it appears to be when you pull back the covers.

    My guess is that part of their solution is going to be an all out war on the internet and financial blogs in particular. As always western governments will pretend that its important to have an informed populace but in reality they mean only to a point. That point is usually located at the margin of the things that they and the power elites are doing...for the public good of course.

    The funny and sad part of all this is that academia are almost always the useful idiots for carrying the message to the populace for the power elites. They are the ones that sell their souls for a piece of what they perceive as real power, but in reality its as pretend as the message they carry. They seem to always assume that its their ideas that the elites are interested in, when in reality its the trust that the public unwittingly places in these stooges.

  11. The hell is Sean Parker doing there? Wasn't he the guy sticking it to RIAA some years ago?

  12. If Schwab means crony capitalism, or corporatism, or state capitalism, then I agree. But like all centralizing elites before him, he suffers from the delusion that we live in a laissez-faire world, and that laissez-faire is the problem.

  13. The WEF agenda is a tamperers dream:

  14. I can understand Facebook being there since they are data miners for The Powers That Be, but Bill Gross from Idealab?

  15. The basic why on this is very simple, all government actions violate the law of Introduction of a Arbitrary.

    When ever you make a rule, law, process, etc. that violates a natural law, such as the Law of Supply and Demand, you then create a problem which in turn needs another Arbitrary (rule, law, process, etc) to fix the problems created by the first violation of natural law.

    Until this is known and used, there is no hope and eventually any system will collapse under its own weight.