Friday, February 13, 2009

where have all the money gone?

while there are economic woes and distress even in the supposedly “First World Countries” with much wealth and big affluence, and while there are understandably more serious financial fears and considerable depression in so called “Developing Countries” long since already wallowing in poverty and hunger, the over-all fundamental as well as practical question is the same: “Where have all the money gone?” Is it not true that in the course of time, not only international economic giants but also national financial dwarfs are all manufacturing more and more money of all kinds and sizes? Is it not also true that practically all governments in all the continents of the world continue issuing more and more “Treasury Bills” of different nature and with diverse schemes for economic gains of both sellers and buyers?

Hence, the “million dollar” question or over-all basic composite legitimate query is the following: Where have all the money and the wealth, all the capital and their income gone? Why is there now a so called “Global Financial Crisis”, an “Economic Tsunami” - or other expressions with all conceivable titles forwarding but one and the same enigma, viz., why are commercial banks closing its doors, manufacturing companies decimating their work forces, industrial corporations lessening their output and thereby diminishing both their capital and labor? Something must be radically wrong with the capitalism system the way it has been long since followed and practiced by many countries in the world. Consequently, there must be also some economic inquest done and follow-up remedial actions done.

The now often heard proposed “Bail-out Scheme”, the loudly contemplated “Stimulus Package”, “Dole Out System” now practiced in the Philippines even if merely for political purposes, are good to hear and imagine but probably or eventually futile to altogether remedy the world’s big financial liability bordering on economic panic. But just the same, it is both necessary and useful to answer the persisting question: When have all the money gone?

For certain, they could not simply vanished in thin air and wherefore must be somewhere. It is also a certainty that they could not have been simply burned, thrown into the ocean or anything similarly ridiculous. The money – much, much, much money – cannot but be here and there. Where? In the pockets of financial oligarchs and big time CEOs. In possession of supercrooks, big drug syndicates and eminent corporate gamblers. In the safekeeping of war freaks and weapon manufacturers. These and other dregs of humanity have the money. And they will in effect continue having more if governments themselves are either the ones that are in fact getting and keeping all the money, or they are in cahoots with big crooks and criminals, or they have neither the intent nor the will to get the money back into public circulation. The trust is liberalistic capitalism, socialistic radicalism and corruption unlimited – all these make money disappear sooner or later.

+ OVCruz, DD
February 13, 2009