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62 Members Of The Elite Have As Much Money As The Poorest 3.6 Billion People On The Entire Planet

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Dark Planet - Public DomainDid you know that the top 1% has more wealth than the rest of the planet combined? And just 62 ultra-wealthy members of the elite have as much money as the poorest 3.5 billion people on the entire planet. These brand new numbers come from a shocking report that was just put out by Oxfam, and they show that income inequality continues to grow at a very rapid pace all over the world. As you will see below, the total wealth of the poorest half of the global population has plunged by 41 percent since 2010 while the wealth of the elite has continued to surge upward. The debt-based financial system that now has the entire planet in its grip funnels wealth to the very top, and the global elite are more than happy to hoard as much of it as they possibly can.

In our world, money is power, and the elite are continually becoming more powerful. The following comes from the Independent, and I think that these numbers truly speak for themselves…

Wealth inequality has grown to the stage where 62 of the world’s richest people own as much as the poorest half of humanity combined, according to a new report.

The research, conducted by the charity Oxfam, found that the wealth of the poorest half of the world’s population – 3.6 billion people – has fallen by 41 percent, or a trillion US dollars, since 2010.

While this group has become poorer, the wealth of the richest 62 people on the planet has increased by more than half a trillion dollars to $1.76 trillion.

Back in 2010, 388 members of the elite had as much wealth as the poorest half of humanity. But since then that number has been steadily falling and now it is down to just 62. At this pace, Oxfam is projecting that in just a few years a single person will have as much money as the poorest half of the global population combined.

As I mentioned above, a big reason for this trend is the financialization of the global economy. All over the world, governments, businesses and individuals have been trained to binge on debt, and all of this debt is systematically impoverishing us. Whenever we borrow money, we always have to pay back more than we borrow, and this funnels wealth to the very top of the pyramid.

Since the last financial crisis, the total amount of debt in the world has absolutely exploded. At this point it is sitting at more than 200 trillion dollars, and all of that debt enriches the ruling class. The more money they get, the more they are able to impose their will on the rest of us, and that is not a good thing.

You may think that you can change your destiny at the ballot box, but history has shown that this is a rather fruitless exercise. The candidate with the most money almost always wins, and so the elite just buy and sell politicians like trading cards. And most politicians are members of the elite anyway. In the end, it is very rare to see a true “outsider” have any sort of sustained success in the political arena.

Unfortunately for the elite, the massive global financial bubble they have created is beginning to burst, and this could have very serious consequences for them. As USA Today is reporting, many of the elite are in a rather glum mood as they gather in Davos, Switzerland for their yearly confab…

Among the elite 2,500 executives and world leaders slouching toward Davos by train, Mercedes limo and helicopter this year, there is a single, depressing refrain — at least it’s not 2008.

There’s nothing to focus the mind of the collective corporate aristocracy like a markets crisis, and January 2016 hasn’t failed to deliver. While European markets were stable Monday after last week’s brutal sell-off, oil continued to fall as Iran prepares to dump 500,000, sanction-free barrels a day on world markets.

I talked about the nightmarish oil crash that we are witnessing in my latest article on The Economic Collapse Blog. This oil crash has pushed markets all over the world into bear market territory, and panic is spreading like wildfire. The following list from Wolf Richter shows just some of the major stock markets that have now fallen more than 20 percent from the peak…

France: -20.6 percent

Germany: -23.3 percent

Sweden: -24.0 percent

Singapore: -27.0 percent

Canada: -27.5 percent

Spain: -28.5 percent

Hong Kong: -32.7 percent

Brazil: -37.5 percent

China (Shanghai Composite): -43.7 percent

Italy: -45.1 percent

Saudi Arabia: -50.4 percent

If the damage stopped here, it would still be a major crisis. But at this point there are many analysts that are forecasting that this new crisis will ultimately turn out to be far worse than what we experienced in 2008. One of those analysts is Albert Edwards of Societe Generale

Albert Edwards, an analyst from french bank Societe Generale, predicts global deflation is going to wipe out 75 percent of the value from the S&P 500.

Edwards’ warning comes on the heels of last weeks drastic and ongoing devaluation of the Chinese currency, tanking oil prices, and major stock selloffs throughout the worlds markets.

In his stark investment note to clients Friday, Edwards blamed the present market turbulence on the Federal Reserve and its British and European central bank counterparts for introducing Quantitative Easing (QE) schemes to their markets, which first began the inflation in prices globally.

If Albert Edwards is right and we do see a 75 percent decline of the S&P 500, the global economy will plunge into a full-blown depression. Big financial institutions will implode left and right, and we will experience a “credit crunch” far greater than what we witnessed in 2008 and 2009. The banks that survive won’t want to lend to one another or to anyone else, and economic activity will grind to a standstill.

What that will mean for ordinary people is this – millions of jobs will be lost and millions of families will no longer be able to pay their bills. Poverty and homelessness will absolutely explode, and economic despair will be everywhere.

The elite will suffer too, but it is during times of great crisis that the elite make their boldest moves. They love to create order out of chaos, and they love to offer us “solutions” for problems that they originally had a hand in creating.

As bad as things are right now, the truth is that they are about to get a lot worse. And the eventual “solutions” that we will be offered will inevitably result in even more power and more money ending up in their hands.

The game is rigged and the elite are running the show.

But when the wheels of the bus come off this time, will the elite be able to retain control?

Only time will tell…

  • ruben sammich

    Knowing how these elitists came to power, it’s safe to assume they don’t have the interests of the rest of the world at heart. As such, it’s time for some Divine Intervention. F them all to hell where they belong.

  • kfilly

    Yes, the elites will maintain control over Amerika because Amerikans are apathetic, indoctrinated morons.

    • Rhialto the Marvellous

      Speak for yourself. That doesn’t describe the AmeriCans I know.

      • kfilly

        So, you know and hang out with a minority of Americans. Most Americans are socialist at best or cultural Marxist at worst. How many people in the USSA would call to phase out Social Security or welfare? Our republic ended when people decided they could vote themselves gifts from the treasury (became democratic socialism). Those are not my words, but they are the words of Benjamin Franklin. How many Americans know their government borrows money from the privately owned Federal Reserve Bank? How many Americans know they are debt slaves, and that their entire currency is based on debt? How many Americans understand the Petrodollar scam? How many people think the economy is doing ok because a few stocks went up? We are a nation of sheep. Most don’t have a clue, are too apathetic to care, and will side with their government slave masters. The reason for all of the government handouts is to buy votes and use those freebies to gain control of the ignorant masses. Yep, we live in the land of the free. I wasn’t speaking of myself. I was speaking about a majority of cultural Marxists that live in the US. Research Antonio Gramsci if you have never heard of him as it is his theory that is being utilized to implement communism in the US.

        • K

          Well said.

        • iris

          Agree. It’s ironic that the crony barons William Lutz referred to, make out to be capitalists, but are wisely using communism and socialism to stuff their wallets. Kind of reminds me of the donkiphant (Dem/GOP) in the U.S. GOP will only back the most liberal contender (check the track records and follow the money when possible) and that person must also have the approval of the CFR, whether they admit it or not. Let’s make our individual lives count for eternal good. Kings and nations rise and fall.

          • Gay Veteran

            fascism = merger of state and corporate powers

  • RTL89

    “All over the world, governments, businesses and individuals have been trained to binge on debt, and all of this debt is systematically impoverishing us”
    No, you’re not “trained” to do anything. You choose to do it. There’s many people out there, myself included, who force themselves on a strict budget; only spend what you earn and save the rest. Credit cards are for people who hold the false belief that it provides them more wealth. Nobody put a gun to their head and said “sign up for this credit card”. If you feel obligated to do so because your neighbours, friends, and family do so, that’s your own prerogative.
    I believe it was David Icke who outlined the “Problem – Reaction – Solution” plan. When you actually wake up from the rat-race, take a few steps back and examine the whole picture, Icke is absolutely right. As the population grows, it serves the elites well because that’s more tax-payer money that they can capitalize on. Simultaneously, however, it’s a downfall… because more of us means more of a threat to them. This is why they implement the PRS; to keep us in line, subservient, and completely divisive amongst each other so we can’t organize ourselves and pose a threat. I’m so sick of people clawing at each others’ throats just to “get ahead”, when it’s all an exercise in futility anyway. This is EXACTLY how they want us to be!

    • Gay Veteran

      not trained? why do you think corporations spend $BILLIONS on advertising if it doesn’t work?

      • Wokesheep

        Nothing worse than a slave who loves their shackles and will fight to defend a system that thinks people are lower than animal crap. @robert

    • Wokesheep

      I meant to direct that comment at you. And I should have said fights for a system controlled by individuals who see us as less than animal crap.

  • Robert

    When in history have “elites” not had most of the wealth and all of the power? The whole middle class thing is fairly new on the world scene. The Rothchilds and Rockefellers have been around for awhile as well as old money families. The internet age has brought some new uber rich to the world such as the Google guys, Facebook dude, twitter and of course Bezos of Amazon and the Walton’s of Walmart. So what? They earned it with new ideas. If all the money from these people were confiscated you would soon have a new elite with most of the money and power. Just how it works. As an earlier commenter said, no one has been forced to use credit and to live beyond their means and become a debt slave. Fact is, we envy the rich and powerful. I am seeing more and more of socialist support here.

    • William Lutz

      That’s not the point Robert. Keep in mind that the rich are getting richer and the poor are getting poorer. That is a major issue, especially when many of the wealthy 1 percent have made their fortunes off our backs. These guys are not genuine capitalists, they are crony barons who are cheating through the system for their own benefit. Furthermore, rich people are not entitled to buy our government; the power of the wealthy should not dictate our democracy.

      It is an absolute abomination that the filthy rich elite are living in luxury while the average American is barely making ends meet.

    • Holger Jahndel

      @Robert:

      Well, there indeed were better times!
      Whenever financial speculation was restricted and limited! And when free trade had some borders.
      Interest and Usury and neoliberal globalisation is an old and new problem: We get a kind of new feudalism, if we do not resist!
      And Resistance is possible!

      Read the books and websites of Al Gore and Pat Buchanan and Lyndon LaRouche and his LaRouche Movement,,,there are possible alternatives to financial speculation and neoliberal free trade, a new Glass Steagall law for example or a modern and intelligent sensible reasonable Protectionism like Brazil is doing it and the French National-Economist Emmanuel Todd suggested it in his books!
      Read also about the intelligent tax system of SWEDEN and FINNLAND in SCANDINAVIA!
      The Japanese under the gouvernment of ABE want to copy it. Because it functions very well for the Economy! The answer on Globalisation and neoliberal free trade! Read the German Manfred Julius Müller about it and his websites and books! There are alternatives!
      Maybe Bernie Sanders or Donald Trump get president, both are against neoliberal free trade deindustrializing the USA and killing the middle class and the industrial basis! China and Japan do a hidden protectionism by buerocracy since a long time. That is not really fair free trade.
      The Swedish and Finnish do it better with their intelligent modern tax system making national products produced in the homeland cheaper than foreign products! The answer on the problem of free trade and neoliberal NAFTA and foreign imports like cheap products from China.
      Unfortunately Hillary Clinton refused the suggestion of the LaRouche Movement to do a new Glass Steagall law (Bill Clinton foolishly abandonned it).
      Read AMERICAN FREE PRESS with Pat Buchanan and the articles and books of the journalist THORN about Hillary Clinton! She is as criminal and corrupt as neoliberal Bill Clinton was and as the Neocon Bush was and as the Neocon senator John McCain still is. But there are some good candidates, at the Democrats (for example Bernie Sanders) and even at the Republicans (even better than Trump). Against neoliberal free trade and against destructive financial speculations!

    • Rhialto the Marvellous

      Thank you Robert!
      People get on here and rail against “the 1%” and “the elite”, who are guilty only of hard work and success.
      May I be one of “the elite” also.

    • Gay Veteran

      “…The internet age has brought some new uber rich to the world such as the Google guys, Facebook dude, twitter and of course Bezos of Amazon and the Walton’s of Walmart…..”

      and the value of their stocks has been propped up by ZIRP while the elderly and other savers are cheated on their savings

  • iris

    It says in Revelation that ten kings of the earth will give their power for 1 hour (figuratively) to the beast, because they’ll be promised a place at the table. Soon after that, 3 of those kings (horns) will have their power taken away. Perhaps these imply super wealthy families, (there are 8-10 super wealthy families, who stay under the radar as much as possible, but basically run the world banks, including the federal reserve). These are the people who create wars and make and break the economies of nations. Or maybe it refers to actual leaders of nations or regions (the global elites want to divide the world into 10 major regions). The mark of the beast (its hallmark will be that one can’t buy or sell without it, and will be beheaded, sooner or later, for refusing it) is right around the corner. This life is tenuous and very temporary. Prophecy is being fulfilled before our eyes, and Yeshua of Bethlehem, who was God come in the flesh, the world’s true Messiah, will return soon. It is time for believers in Him to be about our Father’s business, (loving and helping others and sharing the gospel) and stay focused on Him. None of us really knows what might happen tomorrow, but we can rest in Jesus Christ in perfect peace by faith. That faith will be made sight, maybe in a day, maybe in a few years, or a decade more. I could certainly be wrong, but time as we know it now appears to be truly growing short. Eternity is what will count.

    • watchmannonthewall

      An excellent post! To add a bit of Scripture to your thoughts, James, the brother of Yeshua apparently prophesied of these days:

      “Come now, you rich, weep and howl for your miseries which are coming upon you. Your riches have rotted and your garments have become moth-eaten…Behold, the pay of your laborers who mowed your fields, and which has been withheld by you, cries out against you; and the outcry of those who did the harvesting has reached the ears of the Lord of Saboath (Lord of armies or of hosts)…You have lived luxuriously on the earth and led a life of wanton pleasure; you have fattened your hearts in a day slaughter. You have condemned and put to death the righteous man; he does not resist you. Be patient, therefore, brethren, until the coming pf the Lord. Behold, the farmer (the Father) waits for the precious produce (sons of light) of the soil, being patient about it, until it gets the early and the late rains. You too be patient; strengthen your hearts, for the coming of the Lord is at hand.” Amen and Amen!! (James 5:1-8)

      We have a ways to go and a lot of pain to go through before He will receive His harvest! Many things still have to happen but the Word of God is true and God is not taken by surprise at any of this! What an exciting time to live, as weell as an awesome time. We can see that even 2,000 years ago, James, under the inspiration of the Holy Spirit, was aware a time such as the present was coming. There certainly is a God who WILL have His way on the earth!

      • iris

        Thanks and Amen! It convicts me, too. I’m certainly not wealthy compared to the folks mentioned in Michael’s post, but even a middle class person living in Western societies is royalty compared to most of the people on the planet. Even our homeless have it better off than many alive today. How much do we really need? There’s nothing wrong with money, it’s how we use it, but the love of money, I think that’s what this piece is about.

    • Bob332

      Bingo! life is very short. There is no end for eternity!

  • Nathan Rothschild

    If the sheeple were smart (which they aren’t) they would recognize the marvelous buying opportunity they have. But they will waste their money buying pick ups, starbucks frappacinos and gold. Buy stocks and prosper, you fools! Be like John Templeton in 1939

    • Gay Veteran

      yeah, they should buy when the market could go down yet another 20%. pure genius

  • K

    Almost every Government action. From the bank bailout, to propping up the stock market. Has had one affect. Moving wealth from the middle class, to the wealthy. This is Fascism. The Government funnels money to the wealthy few. The wealthy few, then make sure those same Government officals, stay in power. The rest of the citizens are on the outside looking in. Pretty much describes what you have in the U.S., doesn’t it..

    • iris

      Yep!

  • KevinWarren

    Could this be why the leftists want to disarm the American people?

    • Gay Veteran

      ROFLOL, and do you see the “rightists” stopping them?

  • Alydia Hardin

    The elite just thinks they are in control…lol. We KNOW who is in control! What is waiting for them is a lake of fire for ETERNITY!

    • Rhialto the Marvellous

      What if some of them have been born again?
      Job was an “elite”. Abraham was an “elite”.
      Having money doesn’t condemn you to hell.

    • iris

      Sadly, yes indeed, unless they turn to God. Where there’s life, there’s hope, but as a wise RN I know once said, “Most people die like they lived”.

  • “Even so, come Lord Jesus”

  • Guest
  • horse777res

    But woe unto to you that are rich! For ye have received your consolation. “Luke 6:24

  • MaxRockatansky33

    I bet those richiest 62 persons are the 13 bloodlines of Illuminati with Rothschilds on top of the list.

  • kfilly

    Yes, it will be a staged collapse so that the powers that be can come to the rescue by implementing tyranny. Of course, that will be done for our protection.

  • Gay Veteran

    jeez, not more shemitah BS

  • Gay Veteran

    Madame Guillo tine should have showed up in 2008 when the bank sters got bailed out for their crimes.

  • Gay Veteran

    depends on how you get rich!
    invent an engine that gets 100 mpg, yes.
    being a Wall Street bankster, NO!

  • iris

    Let’s hope the vehicular related death last night, involving 4 staffers for the Ben Carson campaign, wasn’t intentional. The wording is quite ambiguous, with the word, and, inserted in parentheses in most references to it. Nothing is mentioned of the other vehicle, which hit the Carson van, so was it a hit and run? Of course, now that it’s been a day and hopefully others will start scrutinizing, will an official story will come out, making it look even more accidental? I wouldn’t trust some of his opponents as far as I could throw them. The first article I read about it online last night, included a statement by Carson, which is nowhere to be found on the internet today. In it, Carson mentioned that people have become “mean” in our country. Hmmm, a statement like that in reference to a fatal accident, from a peaceful, super intelligent, kind guy like Carson, gave me the impression that he may have been alluding to possible foul play. Praying for the family members of this young man, and thankful the other 3 weren’t seriously injured. “The geese will tell it in the Fall”.

    • iris

      I’d like to see the “original” footage recorded by the big eyes in the sky, on that one. Carson’s too smart to make a statement like that for no reason, although he may feel that discussing the situation further might be dangerous for others on his staff or his family. Justice will be served someday.

  • John Atkins

    Take the 62 elite members money and pay off the world debt with it.

    • iris

      I think they’re complicit in the world’s debt to a large extent, so that’s almost an oxymoron. They manipulate most of their puppets’ strings, but if humanity could overthrow them, history has proven countless times that we would not disperse the monies around the world equitably. Only God can run this planet with peace and justice for all. He said that someday He will return and do just that. For now, in patience, grace and mercy, He offers the gospel of Christ to all who want it. That’s where abundant life lies, freely and eternally, but the opportunity to choose Him won’t last forever. It’s something these folks won’t believe and receive because of their arrogance and greed. They know how to make and keep $, but they know the gig is just about up, so they’re going down fighting.