Crisis for billionaires: Where to stash the loot?

by ISRAEL SHAMIR

Honey seeker depicted on 6000 year old cave painting near Valencia, Spain.
Wikipedia

With the robbery of Libya, even the silliest and most corrupt official in Russia or Kazakhstan has discovered what bees painfully learn, too. When beehives are full of honey, the beekeeper smokes the bees away and collects the product. The bees may have planned to use it for their retirement or for home improvement, but they sadly discover that humans have other plans for their honey. The first wave of Crisis 2008 was the beginning of a smoking-out operation; the Libya campaign is the second stage showing what can be done to crisis-resistant bees.

The fate of Qaddafi hovers like Hamlet’s father’s spirit over many a presidential and managerial desk. The Libyan leader amassed a fortune, some for himself and his family, some for his nation. He placed it in various banks, funds and shelters, and it turns out that instead of greenbacks he could have amassed so many beautiful reddish maple leaves with greater satisfaction and safety. With a wave of their hands, the US and its allies froze the assets and later stole them. Some assets were given to arbitrarily chosen Libyans, a.k.a. “Benghazi rebels”, some were used to pay for the dog food that was airlifted to Tripoli to feed people made destitute by the NATO strikes.

This was the biggest robbery of a sovereign state ever, and als the biggest robbery of private fortunes. And it taught many nasty and greedy people a lesson in gospel truth: Do not lay up for yourselves treasures on earth, where thieves break in and steal. These people thought that they could find a safe refuge from despotic rulers, rebellious masses and ordinary robbers by placing their wealth in the safekeeping of the Swiss gnomes or some other civilised custodians. Now they’ve learned that electronic money in the Cayman Islands is no safer than folded twenty dollar under your mattress. What a shock!

Since then, the officials and tycoons have functioned like bees, busily collecting the sweet sweat of the ordinary citizens’ brows. They siphon their plunder into overseas banks – beehives — thinking it is safe. The West has encouraged them to think this way. They have spread rumors that Putin and Lukashenko have put away billions into Western banks for a rainy day. Their media have told stories of oligarchs who were able to escape to their riches when they fell from grace. Many silly and corrupt officials and greedy businessmen believed it and kept collecting honey.

This honey collection is the best-guarded secret of capitalist superiority. It is based on human weakness. Drug mafias do the same: they produce and sell drugs and extract money to keep in the banks. This works instead of savings, and even better. When economists bewail the low rate of savings in the US, they forget to count savings executed via drug cartels. This was one of the reasons for the US’ ten years’ stay in Afghanistan: drugs help fuel the banking system.

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