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Das Kapital: Is Capitalism metamorphosing
towards Communism?
Il Buono, Il Brutto, Il Cattivo -- The Good, The Bad
and The Ugly
London, UK - 22nd October 2008, 10:09 GMT
Dear ATCA Colleagues
[Please note that the views presented by individual contributors
are not necessarily representative of the views of ATCA, which is neutral.
ATCA conducts collective Socratic dialogue on global opportunities and threats.]
In the most dramatic and drastic government intervention since the global
financial crisis began, Argentina's government has announced that it is
seeking to nationalise its entire private pension funds industry to protect
retirees from falling stock and bond prices. The Argentinean action is further
evidence that the economic fallout of The Great Unwind is leading to more
aggressive government policies and actions in major countries across the
world. The sovereign nation state is extending its powers as it becomes
the effective controller of the free market economic engines within its
domain. Since financial institutions -- banks, insurance companies and pension
funds -- are the primary hubs of all financial intermediation, mass nationalisation
of such vehicles allows governments to be able to control not only the behaviour
of bankers, insurers and pension fund managers but also how these financial
institution decision makers allocate capital; the quantum of assets they
hold; investments they make; loans they provide; and how they assess the
value at risk and their profitability. Let us examine the case of Argentina
in some detail in this context:
[CONTINUES]
[ATCA Membership]
We welcome your thoughts, observations and views. Thank you.
Best wishes
ATCA: The Asymmetric Threats
Contingency Alliance is a philanthropic expert initiative founded
in 2001 to resolve complex global challenges through collective
Socratic dialogue and joint executive action to build a wisdom
based global economy. Adhering to the doctrine of non-violence,
ATCA addresses asymmetric threats and social opportunities arising
from climate chaos and the environment; radical poverty and microfinance;
geo-politics and energy; organised crime & extremism; advanced
technologies -- bio, info, nano, robo & AI; demographic skews
and resource shortages; pandemics; financial systems and systemic
risk; as well as transhumanism and ethics. Present membership
of ATCA is by invitation only and has over 5,000 distinguished
members from over 120 countries: including 1,000 Parliamentarians;
1,500 Chairmen and CEOs of corporations; 1,000 Heads of NGOs;
750 Directors at Academic Centres of Excellence; 500 Inventors
and Original thinkers; as well as 250 Editors-in-Chief of major
media.
The Philanthropia, founded in 2005, brings together over
1,000 leading individual and private philanthropists, family offices,
foundations, private banks, non-governmental organisations and
specialist advisors to address complex global challenges such
as countering climate chaos, reducing radical poverty and developing
global leadership for the younger generation through the appliance
of science and technology, leveraging acumen and finance, as well
as encouraging collaboration with a strong commitment to ethics.
Philanthropia emphasises multi-faith spiritual values: introspection,
healthy living and ecology. Philanthropia Targets: Countering
climate chaos and carbon neutrality; Eliminating radical poverty
-- through micro-credit schemes, empowerment of women and more
responsible capitalism; Leadership for the Younger Generation;
and Corporate and social responsibility.
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