10-5-17 PBSM Corporate Sovereignty Part 1, by Lynette Zang
In 1971 Nixon handed full control of inflation to the Federal Reserve, a private corporation. Thus began the financialization of global markets. In the 1980’s and 1990’s Bilateral Investment Treaties were put in place. Many of these agreements transferred rights from Sovereign Countries to multinational corporations.
In the late 1990’s corporate consolidations began to dwindle our choices, though perception management tools hid this fact from the public.
Today, 147 corporations control 40% of the world’s wealth. Those corporations can utilize those trade agreements to override governments when they feel corporate profits have been negatively impacted by sovereign government laws or rulings.
In addition, because of very little real competition in the global market place the income generated by these corporations is greater than many the GDP of many countries. Thus these multinational corporations may have more power than governments!
How does this impact you? That is what we’ll be examining in this series
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Chief Market Analyst, ITM Trading