PLUTOCRATIC POWER

The US elite neoliberal revolution that was fully launched in the 1970s has now arrived at its logical conclusion, with a very small group of billionaire and multi-billionaire oligarchs utterly controlling the government through political donations. A type of outright bribery fully legalized by the Supreme Court in a number of judgements that started with the 1976 Buckley vs. Veleo case, found full force with the 2010 Citizen’s United vs. FEC case and continued with the 2014 McCutcheon vs. FEC case. With political bribes and concentrated money attacks on progressive (and anti-Zionist) candidates now legally defined as protected free speech, combined with the massive concentration of wealth at the very top of wealth pyramid, US politicians are now fully courtiers of the 0.001%; a few thousand US citizens (and that’s counting their spouses and children).

The Washington Post blithely displayed this reality as it detailed how 45% of all campaign contributions came from fifty billionaires (US$1.6 billion to Republicans, US$0.75 billion to Democrats), and that does not count all the “dark money” political pools that act independently and actively hide their funders. Some of the oligarch billionaires:

1. Timothy Mellon, Railroad Magnate and Heir (part of the Mellon dynasty): US$197 million

2. Richard & Elisabeth Uihlein, Shipping Supplies Magnates (part of the Uihlein dynasty that owned the Schlitz Brewing Company): US$139 million

3. Miriam Adelson, Widow of Casino Magnate Sheldon Adelson and arch Jewish Zionist (served in the Israeli army and has Israeli citizenship): US$136 million

4. Elon Musk, Transportation Entrepreneur, owner of Twitter/X and currently richest man in the world (born into the wealthy South African Musk family), forced to bow down to the Zionists: US$132 million

5. Kenneth Griffin, Hedge Fund Manager (born into a wealthy family): US$104 million

6. Jeff & Janine Yass, Financial Trader and arch Jewish Zionist: US$96 million

7. Paul Singer, Hedge Fund Manager and Jewish “rabid Zionist”: US$63 million

8. Michal Bloomberg, Financial Information Provider (founder of Bloomberg) and Jewish Zionist: US$47 million

9. Stephen & Christine Schwarzman, Investors (founder of the Blackstone Group) and Jewish Zionists: US$40 million

10. Dustin Moscowitz, Facebook co-founder and Jewish: US$39 million

US$993 million from just 10 donors, out of a total of US$2.5 billion for the top 50 billionaire contributors. Even among the billionaire class, wealth and political contributions are concentrated near the top! Imagine how much clout this concentration of wealth and political donations gives these ten donors over the US political courtier class. Out of those ten, five are Jewish Zionists, one is Jewish, and another was forced by his advertisers to bow down to the Zionist regime. The other US billionaires benefit from Israel’s role of disciplining the Middle East and supplying operatives for so many dirty political operations around the world, so there are very few that oppose the Zionist regime’s actions. No wonder nearly every Trump nominee seems to spout Make Israel Great Again more than Make America Great Again. He is bought and paid for by Zionist money, and most especially Miriam Adelson.

Following in the foot steps of her shady husband, who made most of his money in Macau where Chinese organized crime is rampant.

Of course, the Democrats have been all in on the Zionist genocide and happily invited Netanyahu to speak to the US political courtier class during the genocide. And Biden’s cabinet was extensively stocked with Zionists.

Another thing that these donors share is an utter distastefulness for being taxed, and their tax dollars “wasted” on the “unworthy”; some much more rabidly than others. Five made their money in finance, one from social media, one from shipping supplies, one from railroads (which he inherited), and one from Casinos (inevitably involving linkages with organized crime, just like Trump with his casinos). Only one is involved in manufacturing; very much representative of the new US wealth. Tax cuts are always on the agenda, never tax rises (for the rich), and the regulation of the financial industry (especially for hedge funds and private equity) is hardly ever on the table; only post-2008 was some window dressing regulatory legislation required. They all live lives that are utterly disconnected from the lives of even multi-millionaires, let alone the average American.

The oligarch billionaire class is also becoming increasingly embedded with the security state, and adept at utilizing political donations to have themselves appointed to important positions within the very state that their corporations are entwined with. A specially egregious case is Howard Lutnick (CEO of Cantor Fitzgerald, a very large player in the US government debt market) who played a central role in gathering donations for Trump. Another of his companies, Satellogic is very much in bed with the security state and global surveillance, and also using the revolving door as its board has a former Chairman of the US Joint Chiefs of Staff as a member. In his new role as Commerce Secretary, Lutnick will be overseeing agencies, such as NOAA, that Satellogic wants to sell its services to. His stable coin venture Tether has also become a large holder of US government debt. Mark Goodwin and Whitney Webb detail Lutnick’s incestuous relationship with state organizations here.

Then we have a Vice President who is a creation of the silicon valley billionaire Peter Thiel, the owner of the Palantir data gathering and analysis corporation that is in bed with the security state, as well as many other parts of the state and in many different countries. The CIA venture fund was one of the founding investors in Palantir. Trae Stephens, a close affiliate of Thiel, may get the number 2 job at the Pentagon. The other option for the job is a Stephen Feinburg who previously owned a prominent MIC contractor and now heads a Cerberus Capital Management that launched a major defence-focused venture capital fund in 2024. Musk, the co-head of the proposed DOGE agency is also a major state contractor through his SpaceX venture. And which areas is DOGE focusing on? The vast cesspit of corruption that is the Defence Budget and the five massive defence contractors (Lockheed Martin, Raytheon, General Dynamics, Northrop Grumman and Boeing)? The massive profiteering of the Health Industrial Complex?

No, of course not; the targets seem to be the Internal Revenue Service (the agency that taxes the billionaires) and Social Security (money “wasted” on the retired plebs, and vast sums that could be freed from the state to be looted by the financiers). The above are just a few of the oligarchs who are getting themselves placed in important government roles. Who needs courtiers when you can run the state yourself?

In the background we have the modern day equivalents of the anti-competitive and corrupt “trusts” that dominated the US corporate world of the late nineteenth century Gilded Age; Blackrock (US$11.5 trillion under management), The Vanguard Group (US$9.3 trillion under management), and State Street (US$4 trillion under management and US$40 trillion under custody and administration).

The Chairman and CEO of Blackrock, a publicly traded company, is one of its founders, billionaire Larry Fink (US1.2 billion). Vanguard is a private company owned by investment clients (CEO Salim Ramji) and State Street is a publicly traded company (Chairman and CEO Ronald O. O’Hanley). Then in addition, there is the global leader in private equity investment, behemoth Blackstone with US$8.7 trillion under management, with the CEO being the co-founder and billionaire Stephen Schwarzman (US$54 billion). Then there are lesser private equity players such as KKR (US$1 trillion under management), Apollo, the Carlyle Group, Bain Capital and Warburg Pincus. Always searching for areas that can be turned into monopolies or cozy oligopolies to maximize the extractive profits of the ownership class.

Through such vehicles the ownership class concentrate their wealth and power, dominating US and other corporations. In so many US and other corporations Blackrock, Vanguard and State Street will be the top three shareholders, or within the top five. At the same time, Blackstone and others can utilize their assets, together with vast borrowing capacity, to take corporations private and shake them down for the benefit of their investors and management. The senior executives of these investment corporations, representing the ownership class, wield immense power; for example Larry Fink and Stephen Schwarzman are considered to be two of the most powerful people in the world.

These new style trusts also get their executives appointed to important government positions, and even get appointed to run significant parts of the government; as with Blackrock and the large scale US state interventions in the debt markets during the COVID-19 pandemic. A direct conflict of interest given Blackrock’s large US government and corporate bond holdings.

Elections in the US have always been mostly performative and superficial, but in the post-WW2 era the US rich held less of the economic pie and were less concentrated. With the massive concentration of wealth of the past 50 years, both within society and within the wealthy, an incredibly small group of the extreme wealthy together with those that manage the concentrated assets of the wealthy, exercise more power over the government than the rest of society combined. Added to this of course is the concentration of the US (and Western) media, including social media, in so few hands; greatly aided by the lack of any real anti-trust enforcement and oversight since the 1980s.

Even with this level of propagandist control, the level of outright looting and theft of this concentrated oligarchy has become more and more apparent to the general citizenry. A new Gilded Age, but this time the Robber Barons are more feasting off the already in place wealth of the nation and the people rather than building new wealth; a cannibal capitalism that eats its own base of strength. It is in such circumstances that the murder of the CEO of a healthcare company, which excelled in refusing claims under his leadership, is met with a general feeling of “he got what he deserved” by such a large chunk of the population.

 

There has been a significant a level of breakdown in the “manufacturing of consent”; even in the face of escalating levels of state and concentrated media censorship. When propaganda fails to control the population, liberalism can remove its velvet gloves to show its fascist fists. The result can only be greater authoritarianism as the mask of “democracy” has been so utterly removed and the oligarchy continue to plunder and immiserate the citizenry. Frank Zappa was incredibly prescient when he said:

 

The concentration of wealth in lesser and lesser hands, the disconnection of the rulers from the ruled, a vast courtier class fully focused on slavishly serving the oligarchs and not discomfiting them with inconvenient truths, the immiseration of the ruled as the rulers openly display their vast wealth, vast private wealth amidst public squalor; these are all symptoms of a failing empire. An imperial oligarchy feasting on the very bases of its own power, like a snake eating its own tail.

Below is the first two parts of a series documenting the linkages between the state, big business and the media that the oligarchy use to drive both foreign and domestic policies. From the excellent YouTube channel “Eyes Wide Open”.