Transcription
If you take any of the traditional terrestrial capitalist companies like you know British Aerospace or Ford, on average 85% of their revenue goes to salaries, to the salaries of the members of the board, all the way down to the poorest worker with the lowest wage working for them, 85%.
Do you know what percentage of its revenues Google pays to its workers? It's a radical number. 1%. Facebook 1%.
Let me tell you also something else. Do you know that nine out of the $10 they have invested in their cloud capital comes from our central banks? Because in 2008, Wall Street and the city of London went pear shape, as did the banks of Paris and Frankfurt and so on. And our great and good leaders printed $35 trillion. That is 35,000 billion. 35,000 billion to give to the financiers.
So they picked up the phone, they called the managing directors and the CEOs and the CFOs of various conglomerates and they said, "We have free money, take it." Yeah. Bankers got it at negative interest rates. Effectively, the central banks were paying them to take it. So even if they lent it at zero interest rate, they were making money. You understand that, right? This was the crime against humanity. The bailouts of the financial sector after 2008.
So all the CEOs took the money because who would say no to free money? Except that those very CEOs then looked outside and saw you folks and me, all of us. They realized, "Ah, these people won't be able to invest in expensive top-of-the-line products." So we are not going to invest. They took the money from the central banks via the commercial banks and you know what they did? They bought their own shares. Because if you buy your own shares, the share price goes up, okay? If you're the CEO of a company, your bonus is linked to the share price, so that's what you do. But that's not investment. It doesn't create new jobs.
The only capitalists who invested in machinery were the owners of cloud capital. So effectively, we paid them to buy the machinery or to create the machinery, the cloud capital, which then encased us inside these cloud fiefs where we produce free labor for them, happily and voluntarily. The worst kind of slavery is one you choose. So that they could siphon off 35% of global GDP. And you know, when you are not paying this in salaries, do you know what you do with this? You take it to the Cayman Islands. So this money comes out of the circular flow of income. And you know the result is jobs? Because aggregate demand comes down. Terrestrial capitalists do not invest because demand is down. The Bank of England has to increase money supply to keep a semblance of economic activity. That creates inflation. That increases the cost of living. So even if you have a Nokia phone, and you don't have one of those phones, you are still subject to technofeudalism.