Culture Wars/Current Controversies

International Finance

The Jews don’t have a monopoly on International Finance. They became moneylenders in ancient times because both Christians and Muslims forbade usury, but today, people of all races and religions are involved.

The main financiers are the banks. The world’s largest bank is the Industrial and Commercial Bank of China with assets of $5.5 trillion. The next three largest banks are also Chinese; China Commercial Bank, Agricultural Bank of China, and the Bank of China.

The tech giants; Amazon, Alphabet, Apple, Meta, and Microsoft also generate billions of dollars. Elon Musk the South African-born owner of Space X, Twitter, and Pay Pal is worth $198 billion.

The worlds largest oil company is Saudi Aramco followed by Sinopec (China), China National Petroleum Corporation, Exxon-Mobile (USA), Shell (UK/Netherlands), Total (France), BP (UK), Chevron (USA), Marathon (USA), Phillips (USA), Rosneft (Russia).

The top ten pharmaceutical companies also make huge profits: Johnson & Johnson (USA) $82.06 billion, Hoffman-La Roche (Switzerland) $ 63.85 billion, Pfizer (USA) $51 billion, Bayer (Germany) $48.02 billion.

National governments tax the profits of these giant corporations but they minimise their tax bills by operating all over the world.

It’s not possible for every country to fend for itself. The United States and the Russian Federation are so blessed with natural resources that they are practically self-sufficient, but the UK has to import food and energy to survive. And we rely on foreign investment for our industries, universities, railways, communications, football teams, and power generation.

Britain pioneered global capitalism in the 18th century with the Bank of England, the East India Company and Lloyd’s of London. British capital built the railways in India, Africa and North and South America. British shipyards and foundries supplied the armies and navies of the world, and within the captive market of the British Empire people drove tractors, trucks, cars, and motorbikes made in the motherland.

But nothing lasts forever; by the First World War nations such as Germany and the United States began to overtake us. Today, Britain is both a giver and a taker of investments. This was demonstrated when the brief tenure of Liz Truss as prime minister of the UK was ended by the Market’s adverse reaction to her revolutionary budget proposals. The pound dived against the dollar and she was gone within days. Bankers and brokers crave stability and distrust experimental economics.

Stock markets enable businessmen to raise capital and they provide income for pension funds, but unscrupulous traders abuse the system by using insider information and trickery. Nathan Rothschild (pictured) was a German bullion dealer who financed Wellington’s army in the Peninsular War. He conspicuously sold British bonds to indicate a French victory at the Battle of Waterloo, but when they reached rock bottom he bought them back and made a killing on the Stock Exchange. He lent the British government the money to compensate slave owners after the abolition of slavery, and to purchase the Suez Canal. Today, Rothschild & Co control a worldwide financial empire with assets of £14.7 billion and 3,500 employees.

Since the Napoleonic Wars Britain has relied on government borrowing to fight the Crimean War, the South African War, the First World War, the Second World War, and the Korean War. Now we are borrowing money to pay for the Subprime Mortgage Crisis, the Covid Pandemic, the Cost of Living Crisis, and the war in Ukraine.

International finance and world trade are interconnected. The disastrous Brexit experiment demonstrates the myth of national independence. The UK is not one iota less indebted to international finance for leaving the European Union. We live in a global economy and no single nation can successfully function outside of it. Only a self-sufficient bloc of nations with a determined government could possibly challenge the System. At present there is little sign of such a development, but if we had the infrastructure in place we would only need the will to make it happen.

The Green Book


Muammar Al Gaddafi (pictured) published his Green Book in 1976 but I have only just read it. It’s a simple statement of socialist and nationalist principles. He states:

” In the social sense, the familial society is better than that of the tribe, the tribal society is better than that of the nation, and the society of the nation is better than world society with respect to fellowship, affection, solidarity and benefits.”

Gaddafi’s views were well received by ‘progressives’ in the West, except perhaps for his traditionalist thoughts on women:


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