Response to Demeter (Reply #21)
Wed Aug 29, 2012, 06:48 AM
Demeter (65,406 posts)
22. PART 3: Kiss the Ring and You Will Succeed
In case you have never been involved in the process of bringing an innovative product (IP) to market, here’s how it works:
But what about your IP? Where did that go? It went to the banks. How did that happen? Well, you don’t think the Vulture Capitalists used their money to fund your little operation did you? Some, certainly, but a great deal of what they used was other people’s money. Who are those other people? The banks. And what was the price to get the bank involved? Your IP.
According to Ken Dost, the researcher whose work this series is based upon, Bank of America, while holding some 600 patents of their own, also holds some 55,000 patents belonging to other companies. JP Morgan, Citi and Goldman Sachs hold similar numbers. Why would these banks hold the rights to so many other companies’ intellectual property? It’s the price they charge for funding. The banks know that if you hold a company’s IP, you don’t need to own stocks to control what the company does. If you control the rights to the intellectual property you control the company.
Louis Brandeis, probably the most brilliant jurist this country has ever produced, wrote a series of essays for Harper’s Magazine in 1913 called “Other People’s Money and How Bankers Use It”. In 1914 it was turned into a little book which is still available. Here is the synopsis from Wikipedia:
The book attacked the use of investment funds to promote the consolidation of various industries under the control of a small number of corporations, which Brandeis alleged were working in concert to prevent competition. Brandeis harshly criticized investment bankers who controlled large amounts of money deposited in their banks by middle-class people. The heads of these banks, Brandeis pointed out, routinely sat on the boards of railroad companies and large industrial manufacturers of various products, and routinely directed the resources of their banks to promote the interests of their own companies. These companies, in turn, sought to maintain control of their industries by crushing small businesses and stamping out innovators who developed better products to compete against them.
In the fall of last year, a group of Swiss scientists, in a study called “The Network of Global Corporate Control”, demonstrated that nearly all of the world’s economic activity is dominated by a group of elite financial institutions who have interlocking directorships. Some of these financial institutions are:
JP Morgan Chase
Bank of New York Mellon
Bank of America
The more things change, the more they stay the same. In 1913, just before the fall of the US Government to the banking cabal known as The Federal Reserve, Louis Brandeis warned us about the interlocking directorship between the large banking concerns, their large industrialist partners and how together they stifle competition and innovation. In this study, it is pointed out that the same thing still goes on only now it is on a global scale.
There is a war going on. They want you to believe the blame should fall on a scapegoat – the man who bought more house than he could afford, a foreign country who defies the US, minorities who cross the border illegally and suckle up to the welfare teat. They are not your enemy. The true enemy is this interlocking directorship which controls it all.
My question is, what are you going to do about it?
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PART 3: Kiss the Ring and You Will Succeed
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