How to Bankrupt the Global Elites

By Bill Lindo

Dec 31^st 2021: The dawn of a New Year is in front of us. Let’s make a new wish – to bankrupt the global elites who have brought us nothing but misery over the last 38+ years.

A lot of Belizeans are of the mistaken notion that this idea of “bankrupting the global elites”, the big boys can never happen. A couple months ago I quoted a poem by the Italian Dominican priest and philosopher, Tommaso Capanella (famous for City of the Sun) who wrote, the vast majority of humans are beasts of muddy brains, or as I usually say – sheep.  Below is his poem. Read it over and over until you understand what he is telling us.

The People

The People is a beast of muddy brain

               That knows not its own force, and therefore stands

               Loaded with wood and stone; the powerless hands

               Of a mere child guide it with bit and rein.

One kick would be enough to break the chain;

               But the beast fears, and what the child demands,

               It does, nor its own terror understands,

               Confused and stupefied by bugbears vain

Most wonderful! With its own hand it ties

               And gags itself – gives itself death and war

               For pence doled out by kings from its own store.

Its own are all things between earth and heaven;

               But this it knows not, and if one arise

               To tell the truth, it kills him unforgiven.

                                             — Tommaso Capanella (1568 – 1639)

The sad truth is that the power of the people is immense compared to that of the oligarchs. Two things come to mind. Belize with some 420,000 population is controlled by a mere 12 families and their cronies. In other words, 100 persons control a population of 419,900. The other observation is that wealth, real wealth comes from the human mind — “The sole source of wealth is the rise in the productivity of human labour effected through technological progress.”  This the way I put it in 1995 in my book – ABC’s of Economics.  Remember, the elites never work. They live off the sweat of others.

After thousands of years of human history, we learn that the common folk don’t lead reforms and never revolutions. The leaders of revolution, the real leaders always come from the upper middle-class and especially from the elites themselves.

The difference, the change, the break, in human history came in the year 1776 when the majority of North American colonists of the British Empire rebelled and after 12 years of war won complete Independence and a complete break with Europe and its old ways.  This revolution was originally led by Ben Franklin and later George Washington, John and his wife Abigail Adams, Patrick Henry, Thomas Jefferson and the genius, Alexander Hamilton. This crew had a quirky, an unorthodox idea – lets order man’s relationship with each other so that instead of exploitation of man by man, mankind instead exploits nature. In a nutshell, the Americans had this idea that man is not an animal. For Ben Franklin and his elite supporters, the Empire’s belief that man is just a mere animal that can be culled like cattle is completely wrong and needs to change – by force if necessary.

However, after the extrajudicial assassination of Hamilton by the British Empire in 1804, the experiment with effecting the injunction – man is made in the image of his Creator fell out of favour and by the election of Andrew Jackson the new United States went the way of the rest of the world. Under Washington and Hamilton, by 1798 only Georgia was a slave state. The other states had all outlawed slavery, but by 1829, slavery was back with a vengeance. It was not until the military defeat of the British Empire (the Confederacy) in 1865 that slavery finally ended in the Western Hemisphere.  It is very important to know that even though Abe Lincoln fought the worst war in American history losing over three quarter of million troops, the country under the leadership of Lincoln and his financier and economic advisor – Henry Charles Carey, quickly became a major world power because of the reintroduction of Alexander Hamilton’s American System of Political Economy. Within 30 years of the reintroduction of Hamilton’s American System not only in America, but in Germany and Japan, the world’s population grew from some 1.2 billion in 1900 to about 7.8 billion in 2020.

Make no mistake – only the American System of Hamilton can provide for human happiness, an end to poverty, and misery bestowed on man by man. At the end of 2020, China using the eight principles of Hamilton’s System put an end to the poverty and misery of some 800 million Chinese. The schoolmen and other propagandists of the global oligarchy have always preached that human misery and poverty will always be with us. But I reiterate, just 40 years after putting the full eight principles of Hamilton’s American System in effect 800+ million Chinese were taken out of poverty and misery. We just need the political will!

The principles that distinguish Hamilton’s capitalism from British capitalism are the following eight principles:

1. Exploiting nature rather than men. All our schools teach both in business and economics classes that it’s okay to exploit your fellow man. Yet most citizens of Belize know that it wrong to cheat, to steal, to exploit their fellow humankind.  Slavery was and still is the institutional organization of exploiting man by other men.  Take a look at the sugar belt in the North of Belize. The local cane farmer is paid about $ 54/ton for sugar cane. The cost under normal conditions to produce that ton of cane is between $ 52/ton and $ 53/ton.  No business can operate at break-even for long and survive. So, the cane farmer is being cheated by the giant foreign multi-national company.  If instead, nature was exploited by the use of technology (e, below) and (f, below) agricultural productivity, and high income would be paid to the cane farmers.
2. Tariff Protection of local agriculture and manufacturing because free trade has always benefitted the strong at the expense of the weak. Every single country in today’s world that have become an industrial nation-state and have provided a high standard of living to their citizens have done it by practicing trade protection of infant industries and agriculture.  In fact, the COVID-19 crisis is showing that nearly every country on earth today is practicing protection of their local production to protect the workers of their respective countries, because of the massive dislocation of their economies. Globalization has failed.  
3. High wages to workers, because as E. Peshine Smith, wrote: “In order to make labour-cheap, the labourer must be well-fed, well-clothed, well-lodged, well-instructed.” Over the last 150 years political-economists have known that the cheapest worker in money-terms is not necessary the cheapest in economic terms. At the end of the day, money-wages is paid for knowledge, and knowledge is expensive because while the worker is learning, he has to be fed, clothed, and given shelter. In fact, higher money-wages usually tend to increase productivity in the economy such that unit-prices tend to decrease — leading to higher standard of livings.
4. Money creation is a public utility and should be under the control of elected representatives of the people, not controlled by private individuals for private gain and control.  For thousands of years the act of money creation was an act of the sovereign. It was only in the last 200 years that private individuals were given the authority to create new money. The power to create new money from the air is an omnipotent power given to individuals. It is tantamount to the power of life and death. Humans make other humans their enemies, and to give your enemy the power of life and death over you is just simply crazy. This is why the National Bank of Belize is absolutely necessary.
5. Technology and innovation always cause new methods to enter production and thus profits and wages don’t diminish but instead leads to higher productivity and thus higher wages to workers. Therefore the British theory of Diminishing Returns is not valid to physical reality. For the young people taking your first school classes of economics you are at a loss to understand what your teachers are saying. They keep making you feel foolish and stupid – that in a capitalist society no matter what you do capitalism has built-in the process that profits must fall as capitalism increases. This stupid theory has been taught by all the British economists from the Rev. Thomas Malthus, David Ricardo, Marshall, John Keynes, and the modern versions pushed in today’s schools.  But the reality is, technology and innovation leads to higher productivity, thus increasing both profits and wages, leading to a harmony of interests – not class warfare.
6. A view of soil fertility and agricultural productivity as a product of capital investment – not nature.  Science is the way to solve the problem of “mining the soil”.   This concept goes back to the opposition of the Americans to both Ricardo and Malthus. Those British economists preach that man when he first settles the soil goes first to the best soil, then later to the worst. After the better soil is settled and your country runs out of good soils, then your country must take up arms – guns and conquer other countries – create colonies to exploit.  But this isn’t necessary – science is the way.
7. Public infrastructure as a means to lower costs in an industrial society by introducing new methods of production and communications, and the public support of research and development. Agriculture and manufacturing industries need a glue to hold them together. That glue is infrastructure. All countries have a need for roads, bridges, canals, dams, buildings, etc. Belize’s problem is that we listen to our foreign instructors too much. We need to stop importing materials for our infrastructure projects and start making them ourselves, such as cement, steel, etc. On October 24^th 2018, China opened the Hong Kong-Zhuhai-Macau bridge/tunnel. Most Western engineers said this modern wonder could not be done; it was an impossible task. After 7 years, and USD $ 20 billion dollars and the issuance of 1,500 patents the impossible was done. New types of steel, including stainless steel, new heavy duty cranes, new welding methods, were employed and the impossible was done. Those new methods will now be part of the Chinese economy which means their productivity will increase tremendously, leading to lower unit prices and higher wages to workers. This is how infrastructure causes a nation-state to create happiness among its citizens.
8. Government intervention in an economy. Government as the “brain” must put a bridle on corporate bodies, and must establish the pursuit of happiness as a natural right of citizens. In Belize this principle is enshrine in the PUP’s Constitution as a sacred duty of government to create full employment and completely end poverty. The propaganda we hear every day goes something like this. The private sector is the engine of growth.   Before we were a colony of Great Britain so we had certain restrictions to follow.  But, for the last 40 years the Belize private sector could do whatever it wished. What manufacturing industries were created? How was the standard of living increased by the investment of the private sector in the local economy? How many new jobs were created by the private sector? The truth is that Belize’s private sector created few new jobs. They created few manufacturing industries. When Belize got political independence the rate of poverty was about 23%. By the year 1998 it climbed to about 33%; and in the year 2009 it was at 43%. And by 2019 it was at 52%. Today with COVID-19 it is estimated to be some 60%. That is the legacy of the private sector that follows the British model of capitalism – today we call it neo-liberalism. And in March 2020, it was revealed that 5% of Belizeans owned some 75% of all the cash on deposits in the banks. Young people, the less-educated and people of colour in Belize don’t own stocks, bonds, or real estate. They sell their time. By the hour. And the real hourly rate has scarcely changed since independence in 1981.

So how do we as Belizeans bankrupt the global financiers who control our economy and nation-state? First we need a leader who knows and understand the elites. And we as a people must free our minds of the propaganda of the Empire.

Starbase, Texas Sept 2021. A Super-heavy Booster, Starship SN20 & Tower  (CC/Lars plougmann)

The starting point in freeing yourself from the globalists’ economic policies is to let go of the idea of money as a measure of value. That lesson is being painfully driven home by inflation.  Inflation is over 5.7% here in Belize and there is the looming danger of hyperinflation on the horizon.

Above is a photo of Elon Musk’s Starbase in Texas. Starbase is a key part of Project Artemis (the visionary project begun by President Trump to colonize the Moon as a stepping-stone to explore Mars). SpaceX is the only private company in the world to regularly launch astronauts into orbit on its own “reusable” spaceship system.  In 2020, we saw the rapid progress being made by SpaceX of its self-financed development of the most spectacular rocket system ever conceived, the Starship/Superheavy. NASA gave SpaceX the contract for the development of the Artemis Human Landing System (HLS) — with an intended first landing of astronauts on the Moon by 2024.  

Since SpaceX won the HLS contract, implementation was postponed by legal manoeuvring and challenges from Jeff Bezos’ Blue Origin. That was finally resolved after several months, but then the Federal Aviation Administration (FAA) moved in to insist that the first orbital test flight of the Starship/Superheavy rocket system could not take place until the FAA was able to complete a Programmatic Environmental Assessment report on the project. So, the rapid suborbital test flight program came to a halt and the first orbital test, which was initially planned for late summer 2021 was stopped.  Now, an “environmental review,” the tool used repeatedly over the past 40 years to cripple or kill virtually every major infrastructure or advanced energy project in the West, has slowed the process further to a crawl. In early December, the FAA announced that instead of December 31st, 2021, the completion of its report has been pushed back to the end of February 2022.

So “environmental” bureaucracy and litigation is not only threatening to postpone the Artemis Project, but to cripple one of the few companies which is so far ahead of everyone else, that there really is no competition.  This is the same thing the global elites used to cripple the once world-leading American nuclear/electric utility industry reducing it to a mere shell of its former self.  And here in Belize the global elites and their Belizeans cronies are insisting on using the same method (environmentalism) to kill the largest infrastructure ever undertaken in Belize’s history – the killing of the Port Coral Cruise Port, and its causeway.

Every day that labour and capital equipment are delayed from developing or producing a product, is a day of expenditure without return. No company (and no country) can long endure such treatment. For several months Elon Musk has been saying publicly that America must return to the American System of Hamilton. While I have been writing since 1995 that Capital is just “saved-labour”, he has been calling it “distilled-labor”. On Dec 7th 2021, in Austin Texas he said, “The foundation of the economy is labor. Capital equipment is essentially distilled labor. The fundamental constrained is labor. There are not enough people.  And I think one of the biggest risks to civilization is the low birth rate, and the rapidly declining birth rate. And yet so many people – including smart people – think that there are too many people in the world, think that the population is growing out of control. It’s completely the opposite…all national economic policy must be organized around encouraging rapid investment into more and more productive capital equipment to enable rapid increases in the productivity of the worker.”

If, instead, you think as Hamilton said, that wealth comes from increasing the productive powers of human labour, through scientific advance and increases in the capital intensity of the economy, we can:

• Bankrupt the global elite, by no longer worshipping and bailing out their mountains of worthless financial and monetary “paper” assets.
• Return to Hamilton’s American method of sovereign credit creation, (read Hamilton’s paper on Public Credit) for the purpose of advancing the productive powers of human labour and the physical and capital output of the economy. Start by depositing half of government revenue in the National Bank of Belize. The National Bank along with the Central Bank together must fund the agricultural, manufacturing, research & development and especially the “machine tool” of Belize’s economy. The private commercial banks have their place in Belize’s future, but they will never fund the credit of the physical productive economy – that’s not their job. Belize must in the next 4 years increase exports by at least 5 times the current amounts and keep imports steady at the current level. Who will finance this? The National Bank and the Central Bank of Belize. Raising interest rates will not stem inflation. When supply and demand increase together, prices remain stable while incomes and GDP go up.

These are the concepts which must be understood and acted upon, if we are to defeat our nation’s global and domestic enemies and quench the inflationary firestorm soon to consume us. Take some time to better learn Alexander Hamilton’s, Abe Lincoln and his financier/economist Henry Charles Carey, and Franklin D. Roosevelt and his Vice President Henry Agard Wallace’s language of human economics.

Belizeans, understand that we have a choice. As long as we allow the global elites who consider us as animals to capture our governments using their lawyers, then your future is one of misery, destruction and death. The opposite is to allow those members of the elite who believe that man is made in the image of his Creator to support politicians, then you and your family will have a continuous high standard of living in freedom and happiness for our present and our future.

Long Live a Free and Independent Belize!