Posts Tagged Monopoly
Earlier this year, the spy satellite industry was hit hard by defense budget cuts.
For the top two commercial satellite companies, which survive largely by providing imagery to the Pentagon and U.S. intelligence agencies, the cuts left only enough money for one to survive.
Now budget austerity has forced the companies to merge together and create a new space monopoly with control over what we see from orbit.
On Monday, Colorado-based satellite firm DigitalGlobe announced it’s merging with Virginia-based competitor GeoEye in a stock and cash deal worth $900 million. The merger works out in DigitalGlobe’s favor, which keeps its name intact and whose shareholders will control 64 percent of the new company.
DigitalGlobe will also take over GeoEye operations. Best known for providing imagery for applications like Google Earth, the companies combined provide more than three-quarters of the U.S. government’s satellite images.
The company also has somewhat of a codependent relationship with the Pentagon. For one, the companies help serve a need for satellite images that the government’s own aging fleet of satellites can’t always fulfill.
Meanwhile, the companies are dependent on funding from Congress and the Pentagon’s National Geospatial-Intelligence Agency (NGA) in order to stay afloat. This year, that funding got cut — severely.
Earlier this year, the Pentagon announced it was pushing “significant reductions” for commercial satellite imagery for fiscal year 2013.
July 19, 2012
We’ve known for 2,500 years that prolonged war bankrupts an economy.
We’ve known for 1,900 years that rampant inequality destroys societies.
We’ve known for thousands of years that debasing currencies leads to economic collapse.
We’ve known for hundreds of years that the failure to punish financial fraud destroys economies, as it destroys all trust in the financial system.
We’ve known for hundreds of years that monopolies and the political influence which accompanies too much power in too few hands is dangerous for free markets.
We’ve known for centuries that companies will try to pawn their debts off on governments, and that it is a huge mistake for governments to allow corporate debt to be backstopped by government.
We’ve known for 200 years that allowing private banks to control credit creation eventually destroys the nation’s prosperity.
We’ve known for 200 years that a fiat money system – where the money supply is not pegged to anything real – is harmful in the long-run.
We’ve known for 80 years that inflation is a hidden tax.
The Daily Bell
March 1, 2012
Central banks‘ joint efforts sustain global system … Never before have the world’s central banks sent so much money sloshing through the global financial system. From slashing interest rates and buying government debt to dangling cheap loans to banks and taking on their risky assets, central banks have taken extraordinary steps since the 2008 financial crisis to nurse the international banking system back to health. Over the past 3 1/2 years, the central banks of the United States, Britain, Japan and the 17 countries that use the euro have pumped out so much money that their balance sheets have reached a combined $8.76 trillion. That’s a record, by far. The infusion of money has eased borrowing costs and raised confidence in banks, governments and companies. – Boston.com
Dominant Social Theme: More is better. But each bank “does its own thing.”
Free-Market Analysis: It is a much denied fact that what may be called a New World Order is continually being developed at the highest reaches of power. But what is less well known is the amount of coordination already developed between the facilities that provide the engine for global governance.
Central banks are separate banking facilities and responsible for various elements of their country’s economies. Some are operated at an arm’s length from government but all are likely, one way or another, controlled by the Anglosphere power elite.
This elite is apparently made up of great Jewish (elite) banking families along with corporate,religious (Vatican) and military interests and they have continually pushed forward with their homogenizing agenda. The general public is not supposed to be aware of this, of course, andWestern media is not supposed to explain it.
It is, in fact, a kind of sub-dominant social theme – a promotion of sorts. The idea is that countries are generally driven by independent monetary and economic agendas. The world does not run from the top down.
And yet, we can see increasingly frank indications that Western media, especially in the US, is beginning to state the obvious: Monetary policy is being coordinated worldwide. Here’s some more from the article:
Central banks have revealed no plans to reverse course and tighten credit soon. The Fed has said it expects to keep short-term rates at record lows near zero until at least late 2014. At a House hearing Wednesday, some lawmakers pressed Bernanke about the risks of keeping rates so low for so long.
“One of the problems with setting these horizons out so far is that the private sector starts to expect that, and if circumstances change, crawling back off that limb could be very difficult,” Rep. Melvin Watt., D-N.C., told Bernanke. “The policy is a conditional policy,” Bernanke responded. “It’s based on what we know now. If there’s a substantial change in the outlook, we’d have to adjust accordingly.”
Bernanke hinted that if the U.S. economy continued to improve consistently, the Fed might have to consider raising rates sooner. For now, following the Fed’s lead, other central banks have kept their benchmark short-term rates at super-lows. They’ve created low-rate lending programs for commercial banks, like the three-year loans the ECB is providing.