The Death of Capital: What’s Really Behind Thomas Piketty’s Economic Zeitgeist

McKIllopAndrew McKillop
21st Century Wire

If you’ve watched the news this week, you may have noticed it. They are calling it the ‘book of the century’.

But one wonders why this particular book is being hyped to the heavens. Could it be there is a deeper story here, or a subtle hint lurking behind the the wonderfully written reviews?

Elite Psychosis – Again


Rather predictably, the elite-serving glove puppet media has decided it’s right and good at this time to wheel on its handpicked, most obedient and servile journalists to opine ad nauseam about Thomas Piketty’s new book Capital in the 21st Century. This coincides with David Stockman’s almost triumphant declaration of Greenspan-and-Bernanke’s come-uppance ‘Truth Moment’ (Yes, America’s housing fiasco is on you, Alan Greenspan).

All this points to uncomfortable truth that another 2008 crisis is not only possible, it is probably overdue.

Piketty contrasts the Victorian era of extreme and massive income equality with exactly the same thing today, finding that the only difference is that in the times of Thorsten Veblen the rich could pass on almost all their ill gotten-gains to their offspring, and perpetuate what’s popularly known as capitalism. Today, they have to share too much of it with Big Government, which of course dilapidates these gotten-gains and (terribly, unfortunately) economic growth bombs down to oblivion.

Capital and growth are the bedrocks of our latter-day society and mass culture. Piketty’s revision of 21st century economic thinking certainly will embolden those who insist on crowing endlessly about the nefarious ’1%’ (and sneer at me because I travel via private jet), but if they don’t know what’s really happening below the surface, then 1% abstract concept doesn’t really mean a whole lot. One thing we can all agree on right now though, is that we are knee-deep into the ‘Century of Oligharchs’, where creative financial casinos and property speculators have concentrated capital into an ever narrower band of society, which has reverted our so-called progressive democracies back to something akin to late 19th century France.

A Kinder, Gentler Bail-in

A cynic might say that Piketty is only giving a nice face to the IMF’s utopian vision of taxing your personal savings and of course, increase taxes everywhere.

First though, the Masters of the Coin must soften us up to the idea. The new IMF game is to exclaim, “But income in-equality is massive, and to Help the Peepul we will tax wealth!”, but the real problem is systematic and highly institutionalised and more importantly – is out of control. It’s pedal to the metal debt growth, pumped up by Big Guv to fund their pals with corporate welfare in the crony corporations.

Once they got a quick cull of so-called ‘wealth’ (meaning your savings, pensions etc), this will then be blown away instantly to keep the Debt Bubble blowing in the wind.

Yes, of course it has to collapse one day, but the elite hope is it won’t be today.

Social Darwinism

The Victorian era-focus of Piketty is obligatory. In a very, very short period following the shock discovery in 1859, thanks to Charles Darwin who boosted man’s self esteem by claiming that humans are descended from apes and therefore also from reptiles, vertebrate fish, invertebrates – and even from bacteria, Herbert Spencer had managed to cobble together his “Social Darwinism” theory, to massive applause from the elite.


LOOK DOWN, LOOK DOWN: The ‘job for life’ is dead, and steady work is already hard to come by for many (Image via RocknRollGhaost.com)

According the followers of Social Darwinism, Victorian middle class English society was descended, or rather ascended from the hapless “prolos” or animal-like proletariat too stupid to know about derivatives and FX trading. Worthless zombies, they were good for working the factories of David Ricardo, extracting capital from “comparative advantage”, and above all from the ability of paying floor worker persons approximately 100-times less than the ‘Captains of Industry’ up in head office. Their worth premium is raised to 1000 times less when we take into account the late unlamented (to me anyway) Steve Jobs, or the unhappily still-present Bill Gates, and the post-2010 clones and clowns of latterday capitalism, and those marvelously absurd, reheated dotcom boomers like the charlatan inventors of intrinsically worthless cloud hangouts like Whats App and Facebook.

To be sure, if you pay a person 1000 times less than another, the Born Losers have to crawl in poverty. That goes without saying, and author Piketty only skims the surface of that particular part of the bad deal.

Ethics and social philosophy, and any other moral dimensions of this scenario are of course usually avoided, for fear they would ruin the “scientific economics” chart displays and the pompous gurgling of men like Larry Summers, or Robert Rubin. However, critics and commentators, usually outside the glove puppet media, have underscored the role and importance of “honest money” and “hard money”, and its opposite, dishonest money in trashing capitalism. There is something inherently dishonest in fractional reserve banking – which is, in fact, a simple confidence trick.

Bizniss is bizniss however, and the Victorian elite of England sincerely wanted to feel morally righteous, to feel genuine pleasure and pride seeing their fellow citizens in the gutter, suffering repeated cholera epidemics in coal-smeared mega cities like Manchester and London. Old Herbert Spencer supplied them a nice line of lies and illusions.

By a happy coincidence, English capitalist imperialism soon enabled massive supplies of Chinese and Asian opium to be imported, to further befuddle the Hapless Prolos of Britain, as the English imperial onslaught sucked in new capital from China.

To be sure, the English airily “forgot all about it”, possibly helped by prolonged drug dependence, but the Chinese did not. The Opium War has an enduring meaning you see, to the Chinese.

Marx and Engels, for all their faults, at least explained that the capitalist predator class (once it has sucked all it can from its home-base population) wouldl move on to Imperialism and try the same dirty trick on foreign nations and peoples. In do doing, they stacked up blow-back for later on. Today we have a minute-by-minute grope forward of Western neo-Imperialism in the Ukraine crisis, facing down a “KGB-ruled Russia”, but trying the same neo-Imperialist trick against nuclear-armed China or India may run on a lot shorter time fuze. Enduring resentment against Western capitalist imperialism is intense, especially for China and India.

To be sure, capitalism relies heavily on tricks and chance discoveries (called “innovation”) to stumble along, enriching the Nice People and trashing the Born Losers in the gutter. In particular, for at least 100 years, but with antecedents tracing back to John Law’s “financial miracle” in the France of 1715, followed by the total collapse of his dirty and fundamentally dishonest scam – we have the moral dimension and question of honest money.

The Ruling Class Needs War

Dishonest money has its direct counterpart and dark twin in the urge for war.

As slef-appointed rightful rulers of their planetary fifedom, western oligarchs dream and muse about many things. If “Vlad the Vampire” Putin can be unhinged, or even killed by Western subterfuge, like Saddam Hussein or Muammar Gaddafi, then enormous riches could befall to the ‘Good and the Brave’. On the back of liberated Russian natural resources, the money printing presses can whirr even more frenetically.

You can find that warm and progressive message embedded in almost black-and-white print everywhere now, in the elite glove puppet media of today.

The basic problem is that Piketty’s “dilution of capital” is an inevitable process. Since the probable last or definitive crisis of modern capitalism, in 2008, economic growth was and is the first collateral victim. Ergo war is necessary – the elite glove puppet media will tell you so!

Dishonest money was firstly necessary to preserve the Victorian capitalist model of society and culture featuring grotesque social inequality, and secondly was the harbinger and financial driving force behind every imperial war. In moral intellectual or conceptual terms, nothing at all has changed for our elites since Victorian times. However, industrial and technological innovation have also, very unfortunately, democratized nuclear weapons as well as other weapons. Very unfortunate, in particular, for atavistic morons admiring Victorian capitalism. Countries like China and India can hit back very, very hard, today.

For our elites, while they are still there at the helm of the Ship of State, the situation is in fact really simple. You really do have the choice even if you do not want to admit it! Not admitting there is an alternative, or insisting that ‘there is no alternative to our ruling edicts’ is absolutely critical to the elite. Their herd schizophrenia probably helps explain this decreped old paradigm.

Hassan Sabah (1034-1124), also called the Wise Man of the Mountain, in today’s Syria, edicted ‘the doctrine of assassination’. His argument was that the assassination of one Warlord poised to start an epic battle, will avoid the useless death of 10,000 men.

Junking the Victorian-minded neo-capitalist elite in the gutter, where they belong, will do the same.

READ MORE BY THIS AUTHOR AT: 21st Century Wire McKillop Files

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  • Carl Jones

    This article is depressing in the sense that it goes absolutely nowhere. I have tried to move forward with this. First with Mr Henningsen and then with those 5th column folk somewhere out in the West country.

    The hard facts are these…no one in the alternative media, or in activism, actually wants to really change the system. Sure, they talk the talk and that is where it ends.

    In my mind and with some of them, I have been prepared to tell them what I think of them and I have actually accused them of being NWO paid opposition!!lol

    The ordinary working people can retake control of their country[ies]. It`s a simple thing to do. We can turn around our economy around quite quickly. In fact, it will be so effective, that other countries would follow our lead.

    Who holds all the debt? The sheeple do. Who holds all the capital? The banks and corporations of course. We can change this. We can dismantle the corrupt political party system. We can ban the big banks and corporations from trading in the UK. We`d give them 5 years notice. But don`t worry, because once they`ve been told, CAPITAL will divest from the banned banks and corporations, into existing and new UK based businesses. You could throw up that old chestnut about “what if that capital doesn`t come into these UK based businesses”? Simple, the elite will have too much capital chasing very low returns. Believe me, capital will flow into UK based businesses. They will actually breakup their own corporations.

    Britain will become awash with manufacturing. There will be lots of jobs paying real wages, the state will collect real taxes and the benefits bill will fall.

    Mummy was always right, she shared out the sweeties. Capital needs to be freed. Of course, there are problems with this. But they can be overcome. The benefits far out weigh the negatives.

    This is not just about the UK. Breaking up the banks and corporations will help workers in China and elsewhere.

    The problem with the present construct, is that no one today but the very old, can remember what it was like before the big banks and corporations took over. Britain was awash with small and medium sized businesses. These businesses were deliberately destroyed by the City of London. The City refused to invest in UK businesses, because margins were better elsewhere. They only managed to keep this going by increasing the public debt. Technically, Britain is bankrupt like the US and they only have one card to play and that is another World War.

    No one in power or who aspires to hold power (UKIP), has any interest in changing the system. Never in modern history, has there been a better opportunity to change the system and destroy the NWO.

    We can vote for a new system. I liken the alternative media and various activist groups, to being like tics that live off their host….their NWO host. They simply have no alternative, but to suck and drink the blood of their NWO host!

  • Charlie Primero

    McKillop’s economic ignorance is on display yet again. Financial casinos and property speculators did not and do not transfer wealth to the 1%. That was the function of government.

    • Carl Jones

      The 1% make their money through interest, or more specifically, though layers of interest. Somewhere between 40 and 60% of every product or service you buy, is comprised of layers on interest. If I remember, around 40% of your house price is made up of builders and builders merchants interest.

      • Charlie Primero

        So go borrow money to start your new coffeeshop from someone who competes against the 1% by offering lower interest rates.

        Oh wait. You can’t, because the government run by the 1% will send men with guns to your house if you try to avoid them.

        Like I said, the function of government is to feed the 1%. It has been for a thousand years.

        • Carl Jones

          I didn`t disagree with your point. My comment below explains how we can break the system that as you say, feeds the 1%. However, no one seems that interested. Just think, UKIP has two principle policies. Exit the EU and limit immigration…and they are picking up 20% of the vote!! 30-35% don`t vote at all…no one to vote for. The other 50% or so, have a huge constituent who vote for the best of a bad bunch.

          My idea to take back control for the people, by the people, will break the 1% control. This is totally legal and bloodless. And because of their failures, any attack on us would be thrown back in their faces. On every single count, the political party system has failed.

          • Charlie Primero

            “Take back control”?

            That’s the problem with authoritarian collectivists like McKillop. 10,000 hours of public indoctrination convinced them there simply *must* be a Controller in the sky controlling.

            There shouldn’t even BE a gun on the table (control) to fight over.

    • Freespirit

      Government is only an entity and cannot do anything. That is no better than what Andrew does. It is like blaming THINGS for the errors of man, when in fact THINGS are operated by Men

      PEOPLE created and run government AND things.

      NAMES of these people, please OR alll efforts to win for the common people will be in vain

      THAT is how the Elite ALWAYS escape.They remain hidden BEHIND the CURTAIN pulling the strings of the FALL GUYS and THINGS we always, MISTAKENLY blame

  • Freespirit

    Fair article ANDREW, however it could have been a GREAT article if you had the courage to NAME those “neo-capitalist elite” so that we could go arrest them and “throw them in the gutter where they belong”

    If you had only simply named ONE of them ,such as the Rothschild brothers, or Soros, or Rockefeller it would have improved your article immensely.

    You must understand Andrew, that without naming those “elites” , you are casting stones at ghosts , who can slip away into the night and you are ,in effect, ENABLING them

    • paul faso

      This may assist your efforts to identify the guilty parties responsible for this calamity. While not specifically naming one individual, the list in offices held by both current and former leaders, should lead you to those who need to be brought up on charges and held responsible;
      Try this;
      Google- CLASS ACTION LAWSUIT AGAINST THE FEDERAL RESERVE BANK
      or this link;
      http://www.fromthetrenchesworldreport.com/class-action-lawsuit-against-the-federal-reserve-bank/24473

      • Freespirit

        I already know the “guilty” parties and I was simply trying to shame Andrew into naming them. I don’t believe he doesn’t know them. He is simply too cowardly to name them, as MOST writers are. By his and their cowardice, the “elites” are being enabled

        As you can see in my comment I already named a few. Here are a few more: Warburg, Bill Gates, The British and Dutch Royal families and ESPECIALLY the VATICAN.

        The individuals who work for their banks and/or companies are simply stooges and at best shills and minions

        They all need to be tossed in the gutter, like the polluted water they are

  • abinico

    Capitalism is nothing more than modern day feudalism. Working people are slaves to the banks that serve the capitalist. Do you realize that a $250K home loan could end up costing around $1 million by the time it is paid off. Lovely, eh, and yet you have millions of young guys eagerly wanting to sign up to be raped.

    • Frank N Short

      Nobody forces you to purchase a home yet we’re being forced buy health insurance by our government. Which is better? One is freemarket capitalism.

  • Justinwalker

    Simple solution – restore the debt-free and interest-free Treasury issued Bradbury Pound and watch the City of London collapse.

  • abinico

    The 1% are all Satanists.

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