Super rich 1% vs 99 %; Terrorism Cycle: Guillotines: Occupy “ALL” streets.


Super rich 1% vs 99 %; Terrorism Cycle: Guillotines: Occupy “ALL” streets.



Terrorism cycles

1 percent super rich vs 99 percent debt bonders & slaves, coming full circle and rounding the cycle, back to “Terrorism” in original meaning, against super rich privileged elites in systematic corrupt, crimes and abuses of Plutocracy later called Fascism (corporations with government collusion rule), that breeds the over reaction of hatred, vendetta and revenge… remembering the French revolution guillotine:   official State Terror breeding Reactionary Mob Terror, in France, etc, and the cycle runs it course.

Hmm … here we go again?


Images can be powerful, and slogans even more.

Action and reaction, recycled breeds what?


The pepper-spraying of innocent protesters last Saturday and the pictures of Wall Streeters doing their best Marie Antoinette impersonations — drinking champagne and mocking a protest march — have been particularly powerful.

Screen grab from YouTube




(HT: Chicagoist)

The Occupy Wall Street movement spread to Chicago this week, where protesters have gathered outside the Chicago Board of Trade, the world’s oldest options and futures trading center. Like the protesters in New York and other cities around the country, the group gathered to protest our nation’s growing income inequality, as the top 1 percent of Americans continue to see their incomes rise rapidly and their tax rates fall. The Chicago traders, confronted by the protesters’ “We are the 99 percent” message, crafted their own not-so-subtle reply, hanging signs in eighth-floor windows that said, “We are the 1%“:



Posted at 03:20 PM ET, 09/30/2011

‘Occupy Wall Street’ only growing stronger

By James Downie

When the Occupy Wall Street protests began nearly three weeks ago, skeptics claimed it was too disorganized and too unfocused to be successful. But the occupation hasn’t gone away – and that’s because, even as it has become more organized, the protest hasn’t adopted a specific platform.

Media coverage — even on the left — has been minimal, and what coverage has existed has been largely derisive. Cable’s liberal stalwart Rachel Maddow didn’t have a segment on the protest until last night, Mother Jones ran an article entitled “why #occupywallstreet isn’t working,” and Grist’s Dave Roberts said the occupation was “designed to discredit leftie protest.”

And, yet, the occupation is spreading. There are now occupations and solidarity demonstrations in dozens of cities around the country, including Los Angeles, Chicago and Boston. (D.C.’s version is scheduled for Oct. 6.)The Air Line Pilots Association has joined the protests, the 34,000-strong Transit Workers Union Local 100 voted unanimously to support the protests, and several other major progressive groups, including and the SEIU, are finally throwing their weight behind the movement.

To some degree, of course, the images from the protest have played a role in organically popularizing the movement. The pepper-spraying of innocent protesters last Saturday and the pictures of Wall Streeters doing their best Marie Antoinette impersonations — drinking champagne and mocking a protest march — have been particularly powerful.

Screen grab from YouTube

The most important images, though, are in a collection of stories from what the protestors are calling “the other 99 percent” of America: people drowning in debt, people forced to choose between groceries and rent, people who work long hours for little pay and even less job security and yet are “the lucky ones.” There’s despair and sadness in these stories, but the most prevalent emotion is anger — at the few who were bailed out after crashing the economy and at leaders who have often ignored just how unequal the country has become. That anger is the one thing the protesters all agree on, and the biggest impulse driving the occupation forward.

As this anger demonstrates, despite what the skeptics demanded, these activists didn’t need to present yet another platform. Groups have been proposing platforms for years, under both Democrats and Republicans, and yet inequality continues to rise. Instead, simply changing the conversation is the best thing the protesters can do right now. While still in its earliest phases, the occupation is right to echo many Americans’ frustration that Wall Street and Washington have recovered, while the rest of the economy hasn’t. Should there be more specific ideas down the line? Of course. For now, though just focusing the conversation on Wall Street and inequality is victory enough.



99% to Bankers: We’ve Got the Guillotine!

Chicago traders flaunting that they are the one percent super rich, and mocking the 99% protests against Wall Street and banksters inside trading fraud, and immorality of the  Federal Reserve currency fiasco, and the  skewed system which makes rich richer and more powerful, and the working poor more bonded labor mired in debt slavery ,,,

See the reaction of

99% to Bankers: We’ve Got the Guillotine!

Uploaded by  on Oct 10, 2011

Watch the full Keiser Report E195 on Tusday. This week Max Keiser and co-host, Stacy Herbert, talk about Marie Antoinette’s last words on a banner at the Chicago Board of Trade,….


Wall Street Mocks Protesters By Drinking Champagne 2011

Wall Street has shown Americans how they feel about protests. This video shows unidentified occupants watching protests from the balconies of Wall Street in amusement while sipping champagne. Source Channel:

Some others
Incredible Speech By Wall Street Protester “End The Fed” 2011

Financial Armageddon Imminent 2011:

Banker Protesters Storm Brooklyn Bridge 2011 “The Youth Are Rising”

Wall Street Activist Owns Fox News Producer, Fox Bury Interview 2011

JP Morgan actually FUNDS The New York City Police Department: Source:…

Occupy Wall Street: Mass Economic Riots Are Now Here And America Will Never Be The Same:…

Obama Machine Prepares To Hijack ‘Occupy Wall Street’

JP Morgan Funded NYPD Mass Arrests!

The Marines are Coming to PROTECT the Protestors’…


See More On Federal Reserve FRAUD, Debt Crisis, Debt Slavery Bondage, etc

for instance,

Cost of GWOT and US Bankruptcy – analysis – numbers don’t lie the govn’t does

Cost of GWOT and US Bankruptcy – analysis – numbers don’t lie, but politicians do (a lot)

Terrorism by Economic Collapse, debt bondage, money as debt on interest, etc

Hedge Hogs; Gold Man’s Sacks; “financial terrorist attacks;” and the Obama sellout:



SUPER COMMITTEE BIG BANK ROBBERY and “this sucker” going down Part ONE



Occupy Wall Street protests and ‘The Decline of the West’

TYRONE SIU/REUTERS – Occupy Wall Street protests have spread as far as Hong Kong, where protesters said they were planning a demonstration against bureaucracy and capitalism.

By Robert Monks, Published: October 10

This piece is part of an On Leadership roundtable on the Occupy Wall Street protests.“Money is overthrown and abolished by blood.”

Oswald Spengler wrote these words more than a century ago in The Decline of the West. And while the imagery here may be a bit much, there’s something of it in the Occupy Wall Street protests.This movement profoundly threatens the legitimacy of the system on which corporate power is based, and boards of directors should be concerned.Corporations are creatures of statute. There is no Common Law of corporations, they are instruments licensed by the state originally in aid of certain public objectives. But few of these objectives are left. With the passage of time, corporate charters have lost any power to keep corporations in check. What is left? Only the pursuit of wealth. As Baron Thurlow reportedly said, “Corporations have no soul to save and no body to incarcerate.” Their charter is in the gift of the public. They have no inherent right to exist.Amidst the welter of information about executive pay, only one simple conclusion is possible: Pay is not correlated in any way with the value these leaders create for shareholders, society or any other corporate constituency. CEOs largely pay themselves, notwithstanding a raft of misnomers such as “independent compensation committee member” and “independent compensation consultant.” The system imbalances are there for all to see.Recent protests—Occupy Wall Street, of course, but also the Tea Party movement as it first began—rise out of a profound rage over unfairness in this country. The scale of this unfairness and inequity makes it hard to know where to direct that rage, to know what to do. Occupy Wall Street has the right target; but where their rage will go, nobody today knows. I am certain, though, that any alert board should be instructing their managers to do three things: admit the problem exists, take positive steps to make the corporation function fairly, and consider what other steps would address the concerns of the protests.Simple? Not quite. But necessary? You bet.If the present Occupy Wall Street protests do not create an unignorable threat, they certainly raise the prospect of one in the near future. Rage at unfairness is not easily quenched and once started can be hard to curtail. We’ve seen this time and again throughout history. Shareholders may think of themselves as victims of CEO power, asinnocent shareholders , but we need only look to the Russian and French Revolutions to see that everyone having anything to do with fallen power, or in this case “guilty corporations”, may be attacked and injured—even if, like shareholders, their only crime is doing nothing.So what should shareholders do?  They must promptly and credibly associate themselves with the protesters complaining against corporate unfairness—and then present themselves as legitimate vehicles for addressing the problem. The autocratic power of CEOs is fundamentally at odds with the sustainable functioning of corporations in a democratic society. Institutional shareholders must move quickly and decisively. They should defend and legitimate their right to own property and to be responsible for corporate conduct.The day is long past when satisfactory growth in market values, and some regard to  corporations’ public and social responsibilities, is enough. If our system of democratic capitalism is to survive, shareholders must be equally concerned with protecting and preserving the system itself. This involves far more than an increased emphasis on “public relations” or “governmental affairs”—two areas in which fiduciary organizations long have invested substantial sums. It’s time for institutional investors to step up and honorably confront the corporate failure to fulfill fiduciary responsibility to beneficiaries and to deal openly with the conflicting interests within their own organizations.Boards, watch the protests and understand that your dominance of the system cannot continue. And shareholders, vigorously support the protests and use them as a starting point to become active owners, to call boards and CEOs to accountability, and to take responsibility for our system of democratic capitalism.Robert Monks is the author of Corpocracy and The New Global Investors, and is known for his work as a shareholder activist and writer on corporate governance issues.Like On Leadership? Follow us on Twitter and Facebook.>

Occupy All Streets

by James Keye / October 9th, 2011

You who want to know that the Occupy Wall Street protests are about and what the ‘demands’ are had best reflect on the old saw, “Be careful what you ask for; you just might get it.”; get it?  And come on, you know what these people want; they want the banking/financial types (individual and collective royalty) to be made to stop using their power to dominate and control, for their own enrichment, the lives of the nation’s millions of citizens.  Here are the possibilities in a nutshell:

1) The banking/financial community get it – that they have gone too far – and begin to listen to the masses along with making real changes in their behavior.  The masses are empowered, and just possibly some balance could be struck that would hold for a time.  This option has the variation that the financial powers attempt to appear to follow such a course while actually supporting the removal of protest leaders, various divide and conquer strategies and all while offering seeming concessions.  This would lead to an optional version of the second possibility.

2) The banking/financial community use their influence to bring the media and enforcement communities down on the heads of the protestors, the protests wither and the elite grazing on the amber waves of the masses and fruited plain of middle class desires continues unabated.  Of course, the protests would not be ended, but would go into a new phase, more circumspect, more guided by their own kinds of excesses; the country divided along increasing numbers of fracture lines.

3) The banking/financial community could attempt to crush the protests either directly or indirectly and end up only shaking more ripe fruit from the tree of discontent.  The demands of a crowd are always more concrete than the thoughtful machinations of the labor negotiator.  The desire to not be mistreated by an economic elite can, in the movement of the crowd, become a nasty affair; then a very simple form of the demand might be expressed as the great unwashed drag the plutocrats from their aeries to join the crowds for a more face-to-face explanation of grievances.

(There is a forth option involving a reasonably competent and independent polity, but since neither of these conditions obtain, there is no point in considering it.)

Thus far a mild form of the second option has been the choice of Wall Street and its political sycophants.  The response has been more inline with the third option, but the real power of money influence and the police state has yet to be applied.  The obvious first option will not even be considered and will, therefore, force the nearly complete capitulation of either the people or the moneyed interests.

The history is that the people have long been dominated by moneyed interests; it has become the habit to see the rich as superior people and deserving while the poor are slovenly and disreputable.  The absurdities of such habits of thought are seldom given voice.  Evidence is accumulating that the rich, as a class, are less like the human species than the masses, but as interesting as the research is, it has always been obvious that people who would ruin the lives of others to gain wealth are different from normal people.1

In the close-knit communities in which humanity formed, such people were obvious and useful, just as any number of human styles were useful.  Their ways of thinking and acting were moderated by community habits of collective values.  It is exactly that dynamic that we play out today, but on a much different level and by quite different standards.  Today such human styles are sociopathic and psychopathic, that is, they are allowed, by the form of our societies, to express without the modulating influences of community; without guidance such ways of organizing a life experience creates monsters.

John Paulson, of hedge fund infamy, is not a serial killer, but, with carefully planned intent, his financial scheme with Goldman Sachs destroyed the financial security of thousands, perhaps millions of people, literally stealing from them billions of dollars and passing any obligation for repair onto the very people cheated.  In a stunning admission of relationship, the Godmother of veneration for such maneuvering, Ayn Rand, had as real-life hero the psychopathic murderer, William Edward Hickman.  It would not be wild speculation that John Paulson’s actions killed, maimed and otherwise damaged thousands, and that to do such things with foreknowledge represents the behavior of a psychopath as much or more than the 2 recognized murders and various petty robberies of William Edward Hickman.

And Mr. Paulson is not alone in his privilege; there are thousands like him gathered like flies to honey around the flows and accumulations of wealth in the society.  Who they harm is not a concern to them, but it should and must be made to be a concern and that is where Occupy Wall Street comes in.

There is only one authority of final consequence, and that is the collected people.  Any narrowing of interest always disadvantages the many.  Wall Street wants to make its own rules which will, as we have seen, impoverish the people, over 90% of them anyway – not rhetorical impoverishment, but the real road to serfdom; individual worker/laborers “negotiating” with the monopolized moneyed collective on the world market of wages.  “So what if it costs $50,000 dollars a year for a family of four to live a minimum life in the USA; work for $8 an hour or forget it.”

A person would have to work 3 full-time jobs at that pay to get close to $50K; that’s 24 hours a day, 5 days a week for 50 weeks a year.  At the beginning of the Industrial Revolution wages were set so that the “savings” for capitalization could be extracted from the workers.  This was done by paying just enough to men, women and children that, when all worked, they could just put together enough to live (or not die in distressingly large numbers).  That is the “Golden Age” conditions to which our present industrialists/financiers aspire.

So, what do the Occupy Wall Street protesters want? They want their world and their lives back. No more, no less.  If we all join in and if we are ready to take the beatings that will come as the moneyed interests fight back with all the psychopathology they can muster, we will win.

Learn how to explain these things to people; become an Occupier of the Mind as well as an “Occupy Wall Street” participant no matter where it is that you might find yourself.  A million people commenting in a friendly way – and in an effective way – to the clerk in the store, with the person in line next to you, to friends, neighbors, relatives; everyone, every time, every chance: Faux News can be defeated in this way.

A few million get it, though are still a small minority, but the truth is compelling and right there coiled to spring out from the shadows.  The national media is almost saying some true things.  Some of the words still have enough meaning left in them that they can be spoken with effect.  First a thousand, then a million and then ten million speaking with the one voice of the human microphone can shake the foundations of the criminal enterprise that our financial and political system has become.  Occupy All Streets: everyone, every time, every chance.

  1. Google “psychopathology of the rich” or “corporate psychopathology” and read to your heart’s discontent.  David Sirota’s article also references some of the newest research. []

James Keye is the nom de plume of a biologist and psychologist who after discovering a mismatch between academe and himself went into private business for many years. His whole post-pubescent life has been focused on understanding at both the intellectual and personal levels what it is to be of the human species; he claims some success. Email him at: Read other articles by James, or visit James’s website.

This article was posted on Sunday, October 9th, 2011 at 8:00am and is filed under Activism, Capitalism, Classism, Culture.


I didn’t see this posted anywhere else here, but this is pretty big.

Activist Leah Bolger is Tweeting that the October 2011 Coalition, in Freedom Plaza in DC, has had their permit extended for four months.

NBC Washington is reporting it as well:

Authorities granted protesters a four-month extension to continue occupying Freedom Plaza in D.C., News4’s Chris Gordon reported.A deadline for protesters with the October 2011/Stop the Machine demonstration to pack up and leave Freedom Plaza came and went Monday afternoon. The protesters were given until 2 p.m. to break down their stage and other equipment after their original four-day permit expired Sunday. While the protesters cleaned the space and took down the stage where they led rallies, made speeches and played music, they didn’t leave.

At about 2 p.m. Monday, Park Police went to Freedom Plaza and requested a private meeting with protest organizers. They met at National Park Service headquarters about 4 p.m., Gordon reported. Before leaving Freedom Plaza, the organizers told the crowd they’d stay until they’re ready to leave.

The organizers returned to a round of applause when they told demonstrators that authorities offered the four-month extension, Gordon police. Park Police realized it was not in their best interests to shut the demonstrators down or make arrests, organizers said, and asked if demonstrators needed to be arrested to make their point. The organizers replied that they don’t need to be arrested over a permit issue and want their issues addressed.

As a little background, I went last night and the protesters were fully expecting arrests to occur. In my opinion, this is an extremely positive and surprising development. The police are in almost all cases part of the 99%, and having them on our side (or at least not against our side) is something that we should embrace.




The ‘agent provocateur’ who infiltrated Occupy Wall Street

Among the protesters pepper-sprayed while storming a D.C. museum this weekend was a conservative aiming to “mock and undermine” the movement

POSTED ON OCTOBER 10, 2011, AT 10:24 AM
During a D.C. protest Saturday, conservative journalist Patrick Howley tried to undermine the Occupy Wall Street movement, and caused unnecessary violence in the process, according to critics.

During a D.C. protest Saturday, conservative journalist Patrick Howley tried to undermine the Occupy Wall Street movement, and caused unnecessary violence in the process, according to critics. Photo: SHAWN THEW/epa/Corbis SEE ALL 10 PHOTOS

Best Opinion:  Firedoglake, Slate, ThinkProgress

The Smithsonian’s National Air and Space Museum in Washington, D.C., was shut down Saturday after a crowd of protesters showed up to voice their opposition to U.S. drone strikes. The march was organized by an antiwar group called October 11, but was quickly joined by some members of the Occupy Wall Street offshoot Occupy D.C. Ten or so protesters tried to force their way past security and were pepper-sprayed in return. One was Patrick Howley, an editor at the conservative magazine The American Spectator, who shoved his way into the museum even after being pepper-sprayed. “As far as anyone knew I was part of this cause — a cause that I had infiltrated the day before in order to mock and undermine [it] in the pages of The American Spectator,” Howley says in his (since-modified) article. Did he step beyond the bounds of journalism?

Yes. Blame Howley for the weekend’s violence: Howley’s obvious attempt to discredit the Occupy movement wasn’t victimless, says Charlie Grapski at Firedoglake. Without his instigation, innocent tourists and bystanders probably wouldn’t have been maced. And the peaceful Occupiers in New York, D.C., and elsewhere don’t deserve the bad press. The “admitted activities of this self-proclaimed agent provocateur should be brought to the attention of federal law enforcement officials.”
American Spectator editor admits to being agent provocateur…”

No. This is the protesters’ fault, not Howley’s: This journalist didn’t egg on the protesters, says David Weigel at Slate. He simply “stumbled upon conservative media gold.” The fringe anti-war October 11 movement is trying to steal the thunder of the booming Occupy protests. “What does a protest of drones have to do with a new populist protest of income disparity and bank deregulation?” Nothing, of course. But the “ineffective, camera-hungry” bunch at October 11 “have it in them to wreck the image of the new [Occupy] movement.” All “Howley did was notice” and report on it.
“The Battle of the Air and Space Museum”

Regardless, this is activism, not journalism: “The evidence doesn’t seem to show that Howley incited protesters to do anything they weren’t already primed to do,” says Ali Gharib at ThinkProgress. But his self-professed attempt to undermine the Occupy Wall Street movement — “leading the charge of protesters,” then mocking them for not following him — simply isn’t journalism.
“Conservative writer admits ‘infiltrating’ 99 Percent Movement…”



Occupy Wall Street

A man holds up an anti-Wall Street placard on the march to NYPD headquarters. Photograph: Stan Honda/AFP/Getty Images




or is it over yet?


American Fall After Arab Spring — Wall Street Protests Gain Momentum, Spread to Other U.S. Cities

New York City : NY : USA | Oct 03, 2011 at 10:36 AM PDT
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Occupy Wall Street Movement - American Fall After Arab Spring
Occupy Wall Street Movement – American Fall After Arab Spring. The movement gains momentum as it spread in other U.S. Cities.
The Wall Street Journal is planning a New York edition

NEW YORK – A leaderless but spirited anti-Wall Street protests, which has adopted the name Occupy Wall Street, not only started spreading to other U.S. cities as it entered its 3rd week but it is also gaining momentum with the passage of time. The participants are being urged by the activists to dress up as “corporate zombies” on Monday.

NY police has already arrested more than 700 participants on Saturday after they came on Brooklyn Bridge and closed down a traffic lane for hours.

“Occupy Chicago,” for instance, entered its 10th day on Sunday, a day after a linked website pushed “a huge afternoon march.”

Los Angeles is not also away from the revolution happening around. The movement “Occupy Los Angeles” started Saturday with a rally from Pershing Square to City Hall. A website linked with the movement has a motto on its top which reads:

“The revolution is happening … It’s just not in the news.”

The focal point of Occupy Wall Street movement, in Lower Manhattan, was echoing with bustle on Sunday as the participants continued to voice their frustrations with everything from “corporate greed” to high gas prices to inadequate health insurance.

It’s uncertain how long the protests will go on, or whether they will be as forceful in other cities of U.S. as in New York. Much of the activity in other cities is happening online on Facebook, same like the early stage of the New York protest.

Reference: The Wall Street Journal


US protests spread to 847 cities

New York City : NY : USA | Oct 08, 2011 at 10:25 AM PDT
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US Protest
US protests spread to 847 cities
Protestors gather near Wall Street

Anti-corruption protests in the US, which started from the Wall Street in New York, have now spread to 847 cities across the country, US activists report.

The “Occupy Wall Street” movement started its demonstrations about four weeks ago and it has continued gatherings until now.

As of Friday morning, the website “Occupy Together,” a hub for nationwide events in solidarity with “Occupy Wall Street” reported gatherings in 847 cities, Democracy Now reported.

On Thursday, activists kicked off the “October 2011” protest by occupying Freedom Plaza in Washington, DC.

Demonstrators protest against corporatism, unemployment, poverty and social inequality among other things.

They blame Wall Street practices and corporate influence on White House policies for the deepening US economic crisis.

“We need to stop investing in privatization. We need to start worrying about the 99 percent of the population. We need to start investing our money into social welfare programs,” one protester said.

The members of the Occupy Wall Street movement have vowed to stay out through winter.

Protesters use the slogan “We are the 99 percent” to call attention to the fact that they are not part of the one percent of Americans in possession of the nation’s wealth.

GoharAli is based in Karāchi, Sind, Pakistan, and is a Stringer for Allvoices.

Report Credibility



The 1318 transnational corporations that form the core of the economy. Superconnected companies are red, very connected companies are yellow. The size of the dot represents revenue (Image: PLoS One)

Full size image

The 1318 transnational corporations that form the core of the economy. Superconnected companies are red, very connected companies are yellow. The size of the dot represents revenue (Image: PLoS One)

Revealed – the capitalist network

that runs the world

AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters’ worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

The study’s assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable.

The idea that a few bankers control a large chunk of the global economy might not seem like news to New York’s Occupy Wall Street movement and protesters elsewhere (see photo). But the study, by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically identify such a network of power. It combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world’s transnational corporations (TNCs).

“Reality is so complex, we must move away from dogma, whether it’s conspiracy theories or free-market,” says James Glattfelder. “Our analysis is reality-based.”

Previous studies have found that a few TNCs own large chunks of the world’s economy, but they included only a limited number of companies and omitted indirect ownerships, so could not say how this affected the global economy – whether it made it more or less stable, for instance.

The Zurich team can. From Orbis 2007, a database listing 37 million companies and investors worldwide, they pulled out all 43,060 TNCs and the share ownerships linking them. Then they constructed a model of which companies controlled others through shareholding networks, coupled with each company’s operating revenues, to map the structure of economic power.

The work, to be published in PloS One, revealed a core of 1318 companies with interlocking ownerships (see image). Each of the 1318 had ties to two or more other companies, and on average they were connected to 20. What’s more, although they represented 20 per cent of global operating revenues, the 1318 appeared to collectively own through their shares the majority of the world’s large blue chip and manufacturing firms – the “real” economy – representing a further 60 per cent of global revenues.

When the team further untangled the web of ownership, it found much of it tracked back to a “super-entity” of 147 even more tightly knit companies – all of their ownership was held by other members of the super-entity – that controlled 40 per cent of the total wealth in the network. “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.

John Driffill of the University of London, a macroeconomics expert, says the value of the analysis is not just to see if a small number of people controls the global economy, but rather its insights into economic stability.

Concentration of power is not good or bad in itself, says the Zurich team, but the core’s tight interconnections could be. As the world learned in 2008, such networks are unstable. “If one [company] suffers distress,” says Glattfelder, “this propagates.”

“It’s disconcerting to see how connected things really are,” agrees George Sugihara of the Scripps Institution of Oceanography in La Jolla, California, a complex systems expert who has advised Deutsche Bank.

Yaneer Bar-Yam, head of the New England Complex Systems Institute (NECSI), warns that the analysis assumes ownership equates to control, which is not always true. Most company shares are held by fund managers who may or may not control what the companies they part-own actually do. The impact of this on the system’s behaviour, he says, requires more analysis.

Crucially, by identifying the architecture of global economic power, the analysis could help make it more stable. By finding the vulnerable aspects of the system, economists can suggest measures to prevent future collapses spreading through the entire economy. Glattfelder says we may need global anti-trust rules, which now exist only at national level, to limit over-connection among TNCs. Bar-Yam says the analysis suggests one possible solution: firms should be taxed for excess interconnectivity to discourage this risk.

One thing won’t chime with some of the protesters’ claims: the super-entity is unlikely to be the intentional result of a conspiracy to rule the world. “Such structures are common in nature,” says Sugihara.

Newcomers to any network connect preferentially to highly connected members. TNCs buy shares in each other for business reasons, not for world domination. If connectedness clusters, so does wealth, says Dan Braha of NECSI: in similar models, money flows towards the most highly connected members. The Zurich study, says Sugihara, “is strong evidence that simple rules governing TNCs give rise spontaneously to highly connected groups”. Or as Braha puts it: “The Occupy Wall Street claim that 1 per cent of people have most of the wealth reflects a logical phase of the self-organising economy.”

So, the super-entity may not result from conspiracy. The real question, says the Zurich team, is whether it can exert concerted political power. Driffill feels 147 is too many to sustain collusion. Braha suspects they will compete in the market but act together on common interests. Resisting changes to the network structure may be one such common interest.

The top 50 of the 147 superconnected companies

1. Barclays plc
2. Capital Group Companies Inc
3. FMR Corporation
4. AXA
5. State Street Corporation
6. JP Morgan Chase & Co
7. Legal & General Group plc
8. Vanguard Group Inc
10. Merrill Lynch & Co Inc
11. Wellington Management Co LLP
12. Deutsche Bank AG
13. Franklin Resources Inc
14. Credit Suisse Group
15. Walton Enterprises LLC
16. Bank of New York Mellon Corp
17. Natixis
18. Goldman Sachs Group Inc
19. T Rowe Price Group Inc
20. Legg Mason Inc
21. Morgan Stanley
22. Mitsubishi UFJ Financial Group Inc
23. Northern Trust Corporation
24. Société Générale
25. Bank of America Corporation
26. Lloyds TSB Group plc
27. Invesco plc
28. Allianz SE 29. TIAA
30. Old Mutual Public Limited Company
31. Aviva plc
32. Schroders plc
33. Dodge & Cox
34. Lehman Brothers Holdings Inc*
35. Sun Life Financial Inc
36. Standard Life plc
37. CNCE
38. Nomura Holdings Inc
39. The Depository Trust Company
40. Massachusetts Mutual Life Insurance
41. ING Groep NV
42. Brandes Investment Partners LP
43. Unicredito Italiano SPA
44. Deposit Insurance Corporation of Japan
45. Vereniging Aegon
46. BNP Paribas
47. Affiliated Managers Group Inc
48. Resona Holdings Inc
49. Capital Group International Inc
50. China Petrochemical Group Company

* Lehman still existed in the 2007 dataset used

Graphic: The 1318 transnational corporations that form the core of the economy

(Data: PLoS One)

source HERE






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