Company Town 3.0
How dare I call America a colony, much less a company town? The truth is the truth. I assume you will agree with me that American was originally a colony of the British Empire. Our disagreement lies in your belief that America is no longer a colony, which is contrary to my belief. And to add ‘insult to your injury’, I am calling America a company town, because in its broadest form, it is.
“A town, city, or other municipality [governing agency] in which a single large business has a controlling influence over the economy and, sometimes, over the societal structure and local government.” – Your Dictionary
What a wonderfully accurate description of America, a government “… in which a single large business has a controlling influence over the economy and, sometimes, over the societal structure and local government.”
The Federal Reserve Banking System, the Central Bank of the United States, is “a single large business [that] has a controlling influence over the economy” and therefore, over societal structure and government.
“Examining the organization and function of the Federal Reserve Banks and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purposes of the FTCA but are independently owned and locally controlled corporations.” -Lewis v. U.S. (Ninth Circuit Court)
Even though the US Treasury prints the dollar, the US government doesn’t issue its currency. The US dollar is sold to the Federal Reserve Bank(s), supposedly at the cost of printing, approximately 4 cents per bill (anywhere from $1 – $10,000 bills). Wouldn’t you like to buy a $100 bill for 4 cents?
The 12 Federal Reserve Banks who make up the Federal Reserve System of the United States, are privately owned by both US and UK banking cartels. They are the lenders to the United States Government; and its three hundred thirty million (330,000,000) citizens who are presently responsible, according to the 16th Amendment, and hold the incredible debt amount of Thirty Trillion dollars ($30,000,000,000,000).
How did America, the ‘richest nation’ on Earth, become the largest debtor nation on the planet? The Federal Reserve Act of 1913 was the ‘money changers’ “coupe d’état” and “coupe de grace.”
“Let me issue and control a Nation’s money supply and I care not who makes its laws.” – Meyer Amschel Rothschild, 1790
Rothschild went on to say,
“Who controls the issuance of money controls the government…the few who understand the system will either be so interested from its profits, or so dependent on its favors, that there will be no opposition from them.”
That it is an apt description of the United States Congress (Senate and House of Representatives) today. And please know, consequently, the world’s private bankers control the money supply for their own purposes, and any benefit to others outside their circle is inconsequential and only serves to facilitate their end.
On August 31, 2022, at 12:55 PM EDT, nbcnews.com posted another Rob Wile news story that caught my attention, as most of his stories usually do. It is a prime example of the workings of a Company Town.
“Bank of America said it is now offering first-time homebuyers in a select group of cities zero down payment, zero closing cost mortgages to help grow homeownership among Black and Hispanic/Latino communities.
The option will first become available in certain neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. The new mortgage, called the Community Affordable Loan Solution, aims to help eligible individuals and families obtain an affordable loan to purchase a home, the bank said.
Applicants do not have to be Black or Hispanic to qualify for the product, a bank representative said.
As James Brown once sang, “please, please, please”, tell me you that you see the irony, and the contradiction. The Bank of America purports to offering Black and Hispanic/Latina Communities “zero down payment, zero closing cost mortgages to help grow homeownership among Black and Hispanic/Latino communities.”
And yet, “Applicants do not have to be Black or Hispanic to qualify for the product…”
The point of my response to Rob Wile’s post is not whether folks benefit from homeownership, be they White, Hispanic/Latino, or Black.
My point is that the ruling elite, via capitalism, are the true beneficiaries by providing their workers with a mortgage. Company Town 3.0 in its finest, is in motion. For thirty years, and sometimes more (40-year mortgage), and sometimes less (15-year mortgage), you MUST go to work ‘religiously’ in order to provide the roof over your family’s head, as well as food for your table, and clothes on their backs. (Tennessee Ernie Ford’s “Sixteen Tons”, provides a clue). And to make sure you are a dutiful employee, the story discloses,
“The loans require no mortgage insurance — the additional fee typically charged to buyers who put down less than 20% of the purchase price — and no minimum credit score. Instead, eligibility will be based on factors like timely rent payments and on-time utility bill, phone and auto insurance payments. Prospective buyers must also complete a homebuyer certification course provided by Bank of America and federally approved housing counseling partners before they apply for the loan program, the bank said.”
As long as you pay your bills (which means showing up to work every day to ‘earn’ a paycheck) and take their classes teaching you of your responsibilities to them, the ruling elite gladly offer you the chance to be enslaved for an average, 30 years of your life (think “9-5” by Dolly Parton).
If the loan were interest free, which is contrary to Capitalism, we could begin a conversation. Absent the advance (loan) being interest free, you have indentured/enslaved yourself to your employer for the better part of what’s left of your life.
The story goes on with statistics that could have you believe their efforts are altruistic. The story continues,
The racial gap in homeownership rates in the U.S. remained substantial in 2020, the most recent year for which National Association of Realtors data are available.
For white households, the homeownership rate was 72.1%. That compares with 51.1% for Hispanic households and 43.4% for Black households. The Black homeownership rate was lower in 2020 than it was in 2010, the NAR said.
During the pandemic, rising home prices and low housing supply have disproportionally impacted Black households more than any other race/ethnic group,” the NAR said in a report. White households are now 40% more likely to be able to afford to buy a home compared with Black households, the association said.
“Please, please, please,” don’t fall for the hype. They have identified an under-served market [Black and Hispanic/Latino communities] which will be very lucrative for selling money (that is what they do when they provide you a mortgage). And when property taxes, utilities, and maintenance are added, you are locked in, and ‘locked down’. And let’s not forget that health care and education are the most expensive items costing the majority of Americans today and must be factored in as monthly costs also.
The interest expense on the mortgage alone has you repaying the principal amount of the loan, and twice the loan amount in interest as well, and then some. You pay over three times the purchase price of the property, just to have the privilege of being a ‘slave’, [a job is a ‘slave’] for 30 years. And that’s only if you are obedient and responsible to them. (Think “Take this Job and Shove it”, Johnny Paycheck)
Rob Wile’s story continues,
“Bank of America and other major financial institutions [such as] Wells Fargo have checkered histories when it comes to mortgage lending to people of color and prospective buyers who have disabilities.”
Bank of America’s Countrywide Financial, a subprime lender it purchased in 2008, was fined $335 million in 2011 over claims that it charged Black and Hispanic homebuyers higher interest rates than white applicants.
In 2012, Wells Fargo agreed to pay $175 million to settle claims that it targeted people of color with risky home loans that were more expensive. And the city of Miami sued JPMorgan Chase in 2014, accusing the bank of predatory lending in communities of color.”
So clearly, there is no basis for you to believe that they are acting in the best interests of ‘people of color’. By the way, how do you like the expression, “checkered histories?” How about using the terms Nationalism, Imperialism, and Militarism to describe the devastation required to make Capitalism ‘king’.
Let’s get down to the real ‘nitty gritty’.
Both Bank of America and Well Fargo Bank are the largest shareholders of the 12th District Federal Reserve Bank, which is headquartered in San Francisco, California. Bank of America has Branch Banks at Los Angeles, California; Portland, Oregon; Salt Lake City, Utah; and Seattle, Washington, and covers the states of Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington, and serves American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands.
And JPMorgan Chase holds the same ‘honor’ within the 2nd District Federal Reserve Bank of New York, along with Goldman Sachs. These ‘guys’, along with the other 10 Federal Reserve District Banks, set the interest rates that determine the ‘cost of money’ worldwide.
It is despicable, disrespectful, and wickedly wrong that you have to go into debt to purchase the basic necessities of life (housing, via a mortgage; food and clothing, via credit cards, and heath care and education via loans; just to hope that you, your spouse, and your children, receive a fair and equitable chance in life. You keep believing in your “Company” [America] to keep you employed long enough to pay your 30-year mortgage, if you live that long.
How will all of this get sorted? Capitalism is not the answer. Pope Francis said so.
On December 8, 2020, at 9:17 pm (EST), nbcnews.com posted a story by Haley Messinger. The headline screamed:
Big business gets its wings as leaders from
Major U.S. Companies partner with Pope Francis
Capitalism met Catholicism on Tuesday, as some of the world’s biggest business and investment leaders announced
a new partnership with Pope Francis
As quiet as it’s kept, big business was and birthed with wings. And their partnership was only being renewed. It was like thunder, clapping loudly and forcefully, when I read Pope Francis’ statement regarding the Partnership. He said,
“An economic system that is fair, trustworthy and capable of addressing the most profound challenges facing humanity and our planet is urgently needed.”
Pope Francis and I are in complete agreement. Capitalism, never has, and never will, meet the needs of humanity. War, climate change, a 100-year pandemic, and the growing economic disparity between the European/Caucasian (10% of world population) and people of color (90% of world population) only exacerbate the problem. There is, an urgent need for a solution, and capitalism is not the answer. Capitalism is the cause of our problems. Our exigent circumstances demand change.
The Pope and his partners, even if they were truly sincere in their attempt (which they are not), are not capable of solving “the most profound challenges facing humanity and our planet…”
I must repeat my mantra, “A problem cannot be solved by the consciousness that created it.” -Albert Einstein
A very wise man once said that one need not condemn a dirty glass. He said sit a clean glass next to it and let the people decide which vessel they choose.
I am offering Equism, a new Economic Paradigm; a clean, clear, transparent glass, visible to the whole world. So, I will try to minimize my critique of something dirty, decadent, and deadly; and present the next phase of the management of our home, Mother Earth.
If my writing interests you, I hope you will pass it on to the folks who follow you, and also to the folks who you follow. I don’t write for money. My books that offer insight into who I am, and what I am about, including full details for the implementation of Equism, are free. They can be found at my blog equism.net. Please go to the Tab Links to Books, and click on either one, or both, for you perusal and assessment. I have another book incubating.
Meanwhile, I await your critique.
Thanks again for your time, attention, and indulgence.
Peace and Love be with you.
Our Mind Is Powerful: Prayer Is A Source!
Yesterday, I was commenting to my youngest daughter, Akima, that I would pray for a friend of mine. He was hospitalized and not doing very well. His wife had asked me to say a prayer for his successful recovery. Inquisitively, she asked, “dad, if you are an atheist, how can you say a prayer for your friend?”
Here is my response to her, and you.
I pray, but not to a spook ‘God.’ I believe prayer is a conversation with self. It is a request to self, and a reminder to self, of what I want to occur. For me, there is no ‘spook god’ involved in the process.
Prayer is self-programming the human computer (our mind) to provide for our individual, as well as collective human need. And just like the computer, you can only get out of it what you put into it, something the ruling elite fully understand, and implement via religion.
“Religion keeps the poor from killing the rich. — Napoleon Bonaparte
“Religion is an opiate for the masses.” — Karl Marx
“We have used the Bible as if it were a mere special constable’s handbook, an opium dose for keeping the beasts of burden patient while they were being overloaded, a mere book to keep the poor in order.” — Charles Kingsley, Canon of the Church of England
“When the missionaries came to Africa, they had the Bible and we had the land. They said: ‘Let us pray. ‘ We closed our eyes. When we opened them, we had the Bible and they had the land.” — Jomo Kenyatta, Independence Leader of Kenya
And one more, from an Amer-African centered perspective.
It’s not what you know that hurts you. It’s what you know, that just ain’t so. — Leroy ‘Satchel’ Paige
There are many who discuss the origins and history of religion, but no one does it better than Will Durant in The Story of Philosophy and The Lessons of History . Here are three examples from Durant, and though they refer directly to Christianity, the same could be said about the other major religions as well.
“Religion does not seem at first to have had any connection with morals. Apparently (for we are merely guessing, or echoing Petromius, who echoed Lucretius) ‘it was fear that first made the gods — fear of hidden forces in the earth, rivers, oceans, trees, wind and sky’. Religion became the propitiatory of worship of these forces through offerings, sacrifices, incantation, and prayer. Only when priest used these fears and rituals to support morality and law did religion become a vital force and rival the state. It told the people that the local code of morals and laws had been dictated by the gods. It pictured the god Thoth giving laws to Memes for Egypt, the god Shamash giving Hammurabi a code for Babylonia, Yahveh giving the Ten Commandments and 613 Precepts to Moses for the Jews, and the divine nymph Egeria giving Numa Pompilius laws for Rome. Pagan cults and Christian creeds proclaimed that earthly rulers were appointed and protected by the gods. Gratefully, nearly every state shared its lands and revenues with the priests.
…The Church was manned with men, who often proved biased, venal, and extortionate. France grew in wealth and power and made the papacy her political tool. Kings became strong enough to compel a pope to dissolve that Jesuit Order which had so devotedly supported the popes. The Church stooped to fraud, as with pious legends, bogus relics, and dubious miracles; for centuries it was from a mythical Donation of Constantine: that had allegedly bequeathed Western Europe to Pope Sylvester I (r. 314–35), and from the “False Decretals”(c. 842) that forged a series of documents to give a sacred antiquity to papal omnipotence.
…History has justified the Church in the belief that the masses of mankind desire a religion rich in miracle, mystery, and myth. Some minor modifications have been allowed in ritual, in ecclesiastical costume, and in Episcopal authority; but the Church dares not alter the doctrines that reason smiles at, for such changes would offend and disillusion the millions whose hopes have been tied to inspiring and consolatory imaginations. Catholicism survives because it appeals to the imagination, hope and the senses; because its mythology consoles and brightens the lives of the poor.”
A very wise man told me that “work is better than prayer.”
I believe that work is the actualization of what is programmed in our mind. Work is the physical activity that one carries out as a result of the data that the brain has processed to determine what must be done to sustain life.
If your brain tells you that you must serve the European in order to sustain life, then that’s what you will do. Religion is the great programmer of the mind to ensure that behavior. Presently, humanity serves the ruling elite.
And speaking of the ‘mind’, Carter G. Woodson, in his book The Miseducation of the Negro, 1932, had this to say regarding the mind of the Negro.
“No systematic effort towards change has been possible, for taught the same economics, history, philosophy, literature, and religion which have established the present code of morals, the Negro’s mind has been brought under the control of his oppressor, the problem of holding the Negro down, therefore, is easily solved. When you control a man’s thinking you do not have to tell him not to stand here or go yonder. He will find his ‘proper place’ and will stay in it. You do not need to send him to the back door. He will go without being told. In fact, if there is no back door, he will cut one for his special benefit. His education makes it necessary.
The same educational process which inspires and stimulates the oppressor with the thought that he is everything and has accomplished everything worthwhile, depresses and crushes at the same time the spark of genius in the Negro by making him feel that his race does not amount to much and never will measure up to the standards of other peoples. The Negro thus educated is a hopeless liability of the race”.
Sound familiar? That was over 100 years ago, and the same conditions exist today.
Power is required to be a free people. Caucasian/European power comes from the barrel of a gun.
“Whoever said the pen is mightier than the sword obviously never encountered an automatic weapon.” — General Douglas MacArthur
MacArthur said it facetiously, mocking General Bonaparte’s famous “The pen is mightier than the sword” speech.
“There are only two powers in the world, saber and mind; at the end, saber is always defeated by the mind.” — Napoleon Bonaparte
Our power comes from our mind.
“Our life is shaped by our mind. We become what we think.” — Buddha
The Mysterious ‘Invisible Hand’ Is White, Not Black!
It seems as if we are always dealing with something mystical or transcendental when it comes to an explanation of phenomena that humans can’t see, hear, feel, smell, or touch, whether it be ‘God’, the ‘Devil’, or an ‘Invisible Hand.’ In the West, Spookism must prevail.
In religion folk are taught to walk by faith, not by sight. Don’t believe what you see with your own two eyes; believe what you are told by “God’s” vicegerent on Earth.
In economics, Adam Smith, working for his European masters — the banking cartels — developed an incredibly useful tool for them. Smith convinced people that an ‘invisible hand,’ controlling economic activity, was good for society and would produce a fair and equitable distribution of humanity’s need for food, clothing, shelter. In today’s world, that list must also include the health care, education, communication, and transportation needs of society.
Needless to say, that hasn’t happened. And it won’t happen. Because it can’t happen.
Since usury (charging interest on a loan) is forbidden in both Christianity and Islam, why is it a practice throughout…
The ‘hand’ controlling global economic activity is not ‘invisible’, though it is definitely hidden from most folk; but it is hiding in ‘plain sight’ if one has eyes to see.
Here is one example, regarding the issue of the cost of goods and services, which many people are not able to pay, as a result of the never-ending cycle of inflation. Cost/price is of utmost importance today, particularly among the poor and impoverished.
The prices of goods and services on this planet are controlled by a number of factors.
1. Supply and Demand
2. Government Intervention, or lack thereof
3. Cost of Production (materials and labor)
4. Inflation, which is a general increase in prices over time (Capitalism requires an ever-expanding market)
5. Exchange Rates between two currencies also affect the prices of imported and exported goods and services
All of the above are controlled by the European banking cartels.
Let me briefly deal with each one, starting with antisemitism, which was birthed first. On October 27, 2022, the…
Capitalism, their Western economic ideology, strengthens, fortifies, and governs European hegemony and their global domination; at a severe cost to CHOSSA (Children of Stolen and Sold Africans) and other Indigenous peoples in the Americas, Africa, Asia, Australia, and the South Pacific.
To further elucidate, I must return to the guru of modern economic theory, Campbell R. McConnell, author of Economics, 1987 McGraw-Hill, New York, NY, now in its 21st edition.
Professor McConnell detonates a very powerful atomic bomb, the sound of which will soon be heard around the world. His nuclear truth completely shatters the myth of capitalism as a fair, just, and equitable economic system.
He states that, “we should emphasize that there is nothing particularly ethical about the price system for distributing output”. There is nothing ethical about the price system as a mechanism for distributing output fairly.
The price system, a Western invention, developed during the evolution of capitalism, via the Monetary Economy (1694), gives the European complete control over the marketplace, as well as the control and use of our Earth’s natural and human resources. The Caucasian gives value to everything by controlling both the supply and demand of all resources, thereby allowing him to assign a “price” or cost to each of them. Men are making those decisions, not an ‘invisible hand.’
To increase the devastation of his detonation, McConnell further blasts, “Those households which manage to accumulate large amounts of property resources by inheritance…or by crook will receive large incomes and thus command large shares of the economy’s output”, which in turn only produces more property resources, commanding a still greater share of the society’s output. [“by crook”, the European rich get richer, and the poor people of color get poorer].
The Europeans have made it their business to steal all of the world’s natural resources and they gained tremendous wealth with those resources acquired; and they now determine the price of our labor, as well as the price for the goods produced by our labor.
With this present structure, what would make you think that you can ever achieve financial independence in America, Europe, or any part of the planet ruled by a white supremacist economic ideology that is structured solely to maintain European hegemony over the world and its natural resources, and the people and their human resources?
As long as:
1. Banks are privately owned, and issue a sovereign Nation’s currency
2. Interest is charged, and Debt is an acceptable business practice
3. There is private ownership of Power Generation (nuclear, electric, fossil)
4. Health Care is privately owned, and a cost to citizens
5. Foreign ownership of Sovereign lands is permitted
6. There is cost for Education
7. Media is operated, controlled, and owned by Oligarchs and their families
8. The Utilities (electricity, water, gas, internet) of a nation are privately owned
9. There is no efficient, cost-effective Public Transportation System
10. War is the only means to conflict resolution
11. The development of Artificial Intelligence is privately owned and financed
12. Aeronautical operations and Space exploration is privately owned
13. Privately owned businesses exploit sovereign land (metals and minerals)
14. The business of Insurance is privately owned
15. White supremacy/racism is alive
16. Federal Judges are appointed, and not elected; democracy doesn’t exist
17. A nation’s food production is controlled by cartels and conglomerates
18. Nationalism, Imperialism, and Militarism are endemic to Western Culture.
There will be:
3. Famine, Sickness and Disease
4. War, and its Devastation
5. Man-made Climate Change
6. Inflation and Deflation
9. No civil, or human rights
Yesterday I received some feedback from my recent essay, Capitalism Is Good For White People: Why Is It Bad For Black Folk? It was suggested that I provide a list of why Capitalism is bad for black folk because the headline begged the question, without any specific reasons being enumerated. I believed the narrative sufficiently explained that an economic ideology based on lies, while simultaneously empowering white folk, cannot, nor will not, ever be good for black folk. I hope the above list helps to better understand why Capitalism is bad for black folk.
The guru of modern economic theory, Campbell R. McConnell, author of Economics, 1987 McGraw-Hill, New York, NY, now in…
If my writing interests you, here are two other examples that I hope you will find informative.
“Why does economics matter? Because everything that one does each day, hour, minute, and second, is precisely…
Capitalism Is Good For White Folk: Why Is It Bad For Black Folk?
The guru of modern economic theory, Campbell R. McConnell, author of Economics, 1987 McGraw-Hill, New York, NY, now in its 21st edition, in his opening remarks tells us:
Two fundamental facts provide a foundation for the field of economics [capitalism]. It is imperative that we carefully state and fully understand these two facts, since everything that follows in our study of economics depends directly or indirectly upon them.
a. Society’s material wants, that is, the material wants of its citizens and institutions, are virtually unlimited and insatiable.
b. Economic resources — the means of producing goods and services, are limited or scarce.
These are lies that underpin and provide the foundation for the European economic ideology and philosophy called Capitalism. Their foundation was weak and defective from its inception.
It is absurd to say that the “material wants of its citizens and institutions are virtually unlimited or insatiable.” Human wants are tied to human needs. Humans, and their needs are not unlimited or insatiable. In fact, physical human needs are quite quantifiable, and can be satisfied.
Within range, humans can only consume a quantifiable amount of food before their bodies reject it (through regurgitation). We can easily determine the amount of food (for nutritional purposes) that humans need on a daily basis. With regard to clothing, it is also a simple task of quantifying the clothing needs of humans.
Depending on geography and ecology, reasonably, one can only wear one pair of shoes at a time. One can only wear one pair of pants or a skirt at a time. One can only wear one shirt or blouse at a time. The same for a hat, or coat, or underwear. From the standpoint of shelter, it is the same thing. A human can only live in one house at a time, sleep in one bed at a time, and only use one toilet at a time.
Yes, you could postulate that one could want more than three meals a day, want more than a closet or dresser full of clothes, and/or want two or three residences scattered throughout the country. But let’s be certain that those wants are based on greed, not need. It really goes to a value system based on individualism, not one based on a communal spirit of collective cooperation.
In the second fundamental assertion providing the foundation for capitalism McConnell states, “Economic resources — the means for producing the goods and services are limited.” It is an equally absurd lie used to justify their control of the natural and human resources that provide the means for producing the goods and services necessary for human growth and development.
Economic resources are in such significant supply that they can be said to be unlimited. One kernel of corn, planted in the ground, will yield a stalk with seven ears of corn containing 100 kernels on each ear. This represents a return of 700 to 1. Nature is plentiful, bountiful, and beautiful.
“Surplus, not shortage, has been the driving force in the building of markets, creating supply, and determining prices. Indeed, it can be argued that a central concern of the modern world economic system [capitalism] during this century has been to organize and promote markets so that they are protected from ruinous surplus.
Two important cases illustrate the point.
…with the Nixon administration the government formally encouraged the concept of the agribusiness — that is, supported management of the surplus by the private sector, not by the government. As a practical matter, that meant disposal of the surplus was increasingly the job of the major grain companies, not the government.
Ironic as it may seem, the recent humanitarian concerns for making the food surplus available to millions of poor, undernourished people must be viewed as almost incidental to the overall march of U.S, agricultural policy, which has sought the winning of a profitable and stable market for the surplus over the last century.
…Surplus, not shortage, has governed the oil industry since its inception. Through the Standard Oil Trust, John D. Rockefeller, sought to organize the industry so that is would not be overwhelmed by unbridled competition fed by surplus.
…One reason the oil companies moved into the coal industry was because they feared that this abundant resource might be turned into a devasting, and uncontrollable river of synthetic oil.” — Wealth by Stealth, Rolf Hackman, 2013
There were many goals and objectives to be achieved from the holocaust called World War II, including the birth of the State of Israel; but we must not forget that both Japanese and German scientists had simultaneously developed synthetic oil that threatened the world-wide supply. The Germans produced synthetic oil from coal, while the Japanese produced synthetic oil from plants, both abundant resources on our planet.
Another reason for the war was to control the rich minerals found in Africa.
Mineral exploration and exploitation of Africa by European and American interests served a major purpose. Africa supplied their need for gold, diamonds, and other ‘precious’ gemstones and metals; as well as iron, chrome, titanium, platinum, and uranium, just to name a few of the minerals used in the production of weapons, including most importantly, nuclear weapons, in order to maintain their hegemony of the world and its peoples.
“Historically, the extraction of raw materials was the business of large international corporations, some of them founded in the colonial period, which obtained rights to the minerals for relatively insignificant sums. Little processing of the raw material was carried out in the poor countries.
Many of the international corporations that operate in raw materials are vertically integrated — that is, they control each stage of the production-to-consumer process. Very little of raw or processed materials are traded on the open market through such exchanges as the London Metals Exchange.
In other words, as long as the poor countries are dependent on transnational corporations to reach markets abroad, there is little real meaning to their sovereignty over natural resources. [The history of the Ghana Cocoa Industry is a great example] It is a legal, not a commercial, distinction.
Much of the industry in raw materials today remains based on the mine, as it has been for centuries. And it is the mine which sums up the meaning of the business, or bitter relationships between first and third worlds, of the debasement of humankind. Since the fourteenth century when modern warfare was first invented, the output of the mine has been closely dependent on military industry, for it yields up the stuff with which we make cannon and shells and warships and planes.
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