As the current financialized system is set up for speculation, the narrowing gap between economics and politics presents the need to further acquire knowledge about the motivation for action by leading investors.
As they through high tech and top capital control much of the world’s wealth as well as the information flow to billions of people, the stake for the ultra rich has never been higher.
As we sway from a democratic system where governments are independent from capitalist owners, the merging of private capital and government funds now seems to be the set goal for Davos, World Economic Forum and other groups.
This may produce a new wave of the old British East India Company, which merged taxpayer money with private capital and became the world’s most earning company ever.
The key in the the close collaboration between governments and private billionaires may be the billionaire take-over of government funds. Or, at least, the access to it. As politicians tend to originate from humble beginnings, it may be easy to sway the will to donate government money into private projects owned by billionaires, especially if one is promised high pay jobs after politics.
Consequently, the moral standard of billionaire business owners and dealers become even more important. Whose interest do they have at heart? The progress of human kind or capitalist gains for individuals?
Soros notorious 60 Minutes interview in which he explains how easy it was for him as a 14 year old to help the NAZI’s expropriate Jewish property as Jews were sent off to the camps, may shed some light.
In Soros’ defense, his words may have been ill chosen and the reaction to these out of proportions. Soros is a brilliant hedge fund manager, he obviously deserves honor for much of his work.
Yet, the interview sheds light on how he recalls his collaboration with the NAZI’s with no remorse, stating that this time of his life was his happiest moments in life. It is remarkable.
“I was 14 years old and I would say that that was when my character was made.”
When asked whether it was difficult to help the NAZI’s take the properties and belongings of Hungarian Jews who just had been sent to the concentration camps, Soros answers: “No, not at all. It created no problem at all.”
Soros also states that he solely acts based on monetary gain and do not look at the social consequences of his actions.
On his engagement in hedge funds and the financial market, which reportedly has tended to sending nations into economic crisis, Soros says: “I don’t feel guilty, because I am engaged in an amoral activity which is not meant to have anything to do with guilt.”
This is where it becomes problematic.
If we are to have a world in which the billionaires control government funds, or at least have a much greater chance of access to these than in the old system, the need for accountability is even greater.
Are we to enter a system in which the aim is a “pissing contest” between billionaires of who is to own us all, there must be some sort of accountability. Which government systems will be able to control or punish the immoral actions of the richest men alive?
Soros is, of course, famous for funding Hillary Clinton, The Clinton Foundation and a number of other initiatives.
Soros rightfully points out in the interview that the financial market needs to be better regulated.
Yet his own companies are not registered in the USA. In the 60 Minutes interview he confirms that this is done in order to avoid regulation.