by Naresh Jotwani

Editorial note: Colonial exploitation, in its modern form, goes back about five centuries; but the history of exploitation is much older. The concept of money originated with money-lenders; later, greedy local warlords and religious leaders began to collaborate with money-lenders.

By way of illustration, we present this brief glimpse of the conditions which prevailed in Imperial Rome [courtesy: Alex Krainer]: Rome’s oligarchic system of governance favoured a steady and inexorable upward transfer of wealth from the disenfranchised multitudes and colonial subjects to the parasitic oligarchy. As a consequence, Roman internal politics were marked by almost perpetual social and political unrest, exacerbated by an overhang of unpayable debts, rolling civil wars, frequent colonial uprisings and periodic slave revolts.

We hope to bring out a series of ‘vignettes’ on the theme of the title of this post. Readers are cordially invited to contribute their personal views – even in the form of ‘mini-posts’ of about a hundred words. The first post in the series, by Naresh Jotwani, is presented below. We hope to see more!

[There have been several earlier posts on this blog on the broad theme of the present one; some of these can be found here, here, here and here.]

Money makes the world go around. In that process, money itself goes around, a dynamic known to economists as velocity of money. The velocity of money is not linear. Rotation of money takes place – either within a local economy, or globally. Local rotation of money, as in a town, is the beating pulse of a healthy economy; global flows of finance are almost always malevolent.

Global finance is the creation and the plaything of the monster known as limitless greed. This monster’s modern tools of trade are fiat money, usury, speculation with high leverage, propaganda, deceit, law-fare, corruption, cronyism, colour revolution, war et cetera. Speculation may be on natural resources, stocks, commodities, currencies, governments, land … whatever, wherever.

Limitless greed has no humanity, no motherland, no morality, no conscience. It can turn against its own country of legal domicile. If a country is weakening, big finance bets against it even while claiming full legal rights there. Rights are demanded in shrill voice; responsibilities are quietly shirked.

The playbook: Grab valuable resources, anywhere in the world, with borrowed money, massive leverage, connections, PR and bluff. Through deceit and law-fare, acquire a choke-hold on the resources. Borrow more money with the same resources as collateral. Rinse and repeat.

[Historical note: This is how warlords earlier behaved with swords.]

The over-leveraged system will crash one day. Shysters of finance will be bailed out, since they stay ‘connected’ with politicians. The entire risk of their gambles falls upon today’s taxpayers and tomorrow’s children. A healthy economy prospers in peacetime. Big finance does better in wartime; that is why it promotes wars, usually lending to both sides.

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Let us dig a little deeper. Is it really money that makes the world go around – or is it human psychology? We suggest that it is the latter. Local rotation of money is caused by societal supply and demand; global moves of big finance are created and sustained by limitless greed and demonic egos.

Limitless greed inhabits dark minds and cold hearts; it mercilessly exploits the gullible. Compassion is weakness. One can join that gang only by proving that one can be equally cold and merciless. Screening and initiation rites provide gang bosses with blackmail material on selected recruits.

Ideology is utilized as cover for the limitless greed, as a ‘fig leaf’ on ugly reality. Saturation spread of ideology is achieved through news, opinion, analysis, law, philanthropy, art, literature, ‘soft power’; the aim is exploitative deception, misdirection and manipulation. Victims are manipulated ‘for their own good’, to bring them democracy, or freedom, or progress, or modernity … or something. Deception is absolutely essential. Nobody wants to be ruled by the limitless greed of others. So PR spin doctors make good money as paid retainers, mouthpieces and sycophants of big finance.

Deep down, the truth of the matter is very simple: If anybody, anywhere has anything worth grabbing, they are coming for it, under one pretext or another. The hafta system that we hear about locally is played out by global finance in a far smarter and grander manner. It is impossible for a normal, upright person, who has never seen depraved levels of greed, to imagine the depth and intensity of the cruelty and deviousness involved.

It is not hyperbole to describe the oligarchs of global finance as a criminal mob. Naturally, the juiciest businesses attract them the most. And which are the juiciest businesses today? Monopolies, illicit trades, addiction, war.

Chest-thumping, threats, bluffs and sycophancy are the trademarks of mobs. Sometimes there is falling out amongst mob bosses. Watch the recently ended clown show of chest-thumping, delusion and sycophancy at Davos. Watch the leaders of the so-called ‘free world’. Even God cannot help a society if such people hold the reins of that society’s economy.

The global thieves are falling out today because thieving from the Global South has become difficult. Surely the gang will re-group, devise new schemes, make new alliances – and will be back at their dirty game. Make no mistake. The game is age-old. Feudal lords have always had their sycophants and hangers-on. Human psychology of exploitation has not changed.

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All that glitters is not gold. Fake money aided by subterfuge and PR creates fake glitter. However, behind the captivating, seductive glitter and charm of the ‘golden west’ lies limitless global misery; the blood, sweat and tears of others.

It is naive for any country to believe that it is safe – and inexcusable to be unprepared. As they say: Fool me once, shame on you. Fool me twice, shame on me!

The price of liberty is eternal vigilance.