Cry Gold – Cry Wolf

The very wealthiest are leading the way for this elite crowd and adding hundreds of billions of dollars to their wealth in a year when the majority of “normal” people are fighting for survival.

Just take the Tesla founder Elon Musk. At the beginning of this year, his wealth was $26 billion. As of Dec 18, his wealth has grown by $130b to $156b. That is a massive 6 fold increase built on the hope and faith of investors rather than on sound financial performance.

If we take the world’s richest man, his gain is a mere $67b making his total wealth $182b. That makes Bezos's wealth higher than the market cap of 453 of the S&P 500 corporations and bigger than companies like Exxon or Chevron.

Many others increased their wealth massively, like Dan Gilbert (Quicken Loans) who went from $7b to $44b in 2020, and Bernard Arnault (Louis Vitton Moet Hennessy) up $36b to $146b.

THE WEALTH GAP IS MAKING REVOLUTIONARY PROPORTIONS

The gap between the rich and the poor is now reaching proportions that history warns us about. In 2018, the richest 26 people on earth had the same net worth as half of the world’s population, or 3.8 billion people.

Having just watched the Last Tsars about the period leading up to the 1917 Russian Revolution, it is a stark reminder of what happens when the wealth gap reaches the proportions that we are seeing in the world now.

The world is already regularly seeing many protests in several countries. So far this has not yet led to civil wars. But when the current unsustainable debt and asset bubbles in the world implode and the world realizes that printed fiat money has zero value, we are going to experience a different situation.

The trigger for revolutions is mostly gross inequality combined with lack of work and income for the masses plus empty stomachs. As the world economy implodes in the next few years, these conditions are very likely to come upon the world. There are already clear indications that food shortages will soon hit the world.

How it will all finish is, of course, impossible to forecast but the suffering for most people will be very severe.

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