80% of Global Economy Owned By a Few

80% of Global Economy Owned By a Few

Out of a database of an amazing 37 million companies and investors, the relationship, was studied and a mapping done by Swiss Federal Institute of Technology in Zurich, Switzerland. They discovered that less than 1% controls it all! They include at the top of the pyramid:

#1 Barclays Plc

#2 Capital Group Companies Inc

#3 FMR Corporation

#4 AXA

#5 State Street Corporation

#6 JP Morgan Chase & Co.

#9 UBS AG

#10 Merrill Lynch & Co Inc

#12 Deutsche Bank

(#14) Credit Suisse Group

#16 Bank of New York Mellon Corp

#18 Goldman Sachs Group

#21 Morgan Stanley

#24 Société Générale

#25 Bank of America Corporation

 #26 Lloyds TSB Group

#34 Lehman Brothers Holdings

#35 Sun Life Financial

#41 ING Groep

#46 BNP Paribas

In the U.S. only five companies own half the economy:

  • JP Morgan Chase
  • Bank of America
  • Citigroup
  • Wells Fargo
  • Goldman Sachs Group

To help line their pockets, and to step-up centralization of the global economy i.e. One Government World, the pseudo industry of financial markets:

  • Speculated against the ability of nations to repay their debt or interest,
  • Downgraded the credit-worthiness of nations,
  • Placed higher interest on government debts

Thus plunging countries into further debt to enforce austerity measures that some say were in order to restore market confidence, but more likely to shock societies into compliance through acceptance of whatever self interested solutions that would be offered to the people and/or governments, thus peeling away sovereignty.

A 2005 report from Citigroup coined the term “plutonomy,” to describe countries “where economic growth is powered by and largely consumed by the wealthy few,” and specifically identified the U.K., Canada, Australia, and the United States as four plutonomies.

Source*

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