Escaping the Ponzi economy

The sub-prime crisis is a metaphor for the political economy. Those with power create the game in which players are duped into buying worthless assets, while real assets (land and resources) are subject to confiscation by the banks who created money from nothing to lend on usurious terms, guaranteeing default. This is well described in the film, The Big Short.

A recent film shows a variation on the scam, multilevel marketing or pyramid selling, which sucks in the unwary with promises of riches beyond their wildest dreams.

Betting on Zero
Betting on Zero directed by Ted Braun is a thrilling documentary that exposes the economic scam behind US corporate health giant Herbalife, the nutrition supplement company that’s been widely condemned as a massive pyramid scheme.

As in The Big Short, those betting against the establishment need deep pockets and strong nerves. Bill Ackerman's Pershing Square is being punished by those who, for what ever reason, don't see the Herbalife emperor is naked. Thus far, his nerve is holding.

Ackman outlines next battle as Herbalife bites again by Michelle McGagh
Ackman has 'shorted' shares in Herbalife since 2012, accusing the company of operating a pyramid scheme.
Herbalife's rally this year has punished the fund, with the shares rising 43%, with a 10.7% surge yesterday on news of plans of a $600 million share buyback dealing the latest blow.
Even before yesterday's rally, the Herbalife short was the fund's worst performing investment this year, accounting for 4.3% of the fund's losses in the first half of the year. But Ackman stuck to his guns.

The point is that the global economy is a Ponzi scheme in which the rich get richer and the rest of us, poorer. But there are ways of fighting back by looking for alternatives to the monopolistic, predatory, fascist (fusion of corporate and state power) corporations.

There are many decentralised initiatives emerging to challenge centralised power which in the media is trying to silence dissent. YouTube has been demonetising "unapproved" content that challenges official narratives. BitChute is one alternative to YouTube and now DTube is in beta testing and could become a powerful decentralised antidote to hegemonic corporatocracy. There is an irony that this video is on YouTube but this doesn't detract from the message.

The more we withdraw from the system to build alternatives, the quicker it will collapse and the stronger we'll be to create an alternative political economy.

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