You are here
Charles Hugh Smith: Capitalism for the powerless, crony socialism for the powerful
By Charles Hugh Smith
Friday, June 18, 2021
The only dynamic that's even faintly "capitalist" about America's crony-socialism is that the price of political corruption is still a "market."
The supposed "choice" between "capitalism" and "socialism" is a useful fabrication masking the worst of all possible worlds we inhabit: capitalism for the powerless and crony-socialism for the powerful.
Capitalism's primary dynamics are reserved solely for the powerless: a market price of money, capital's exploitive potential, free-for-all competition, and creative destruction.
... Dispatch continues below ...
Storage and Withdrawal of Gold
with Bullion Star in Singapore
Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.
Bullion Star's solution for storing bullion in Singapore is called My Vault Storage.
With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.
Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage online around the clock. Storage rates are competitive.
For more information, please visit Bullion Star here:
The powerful, on the other hand, bask in the warm glow of socialism: The Federal Reserve protects them from the market cost of money -- financiers and the super-wealthy get their money for virtually nothing from the Fed, in virtually unlimited quantities -- and the Treasury, Congress, and the executive branch protect them from any losses: their gains are private, but their losses are transferred to the public.
The Supreme Court ensures the super-rich maintain this cozy crony-socialism by ensuring they can buy political power via lobbying and campaign contributions -- under the laughable excuse of free speech. ...
... For the remainder of the commentary:
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
2 Poydras St., New Orleans, Louisiana
Tuesday-Friday, October 19-22, 2021
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at: firstname.lastname@example.org
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at email@example.com.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: