Matrix of Terms: Finance Oligarchs

Banker Occupied Government

Our new installment in the ‘Matrix of Terms’ series is the offbeat term Finance Oligarchs. Since 2008 we have been inundated with information regarding the economy, banking, debt, and a host of other related issues. If we can draw one good thing out of this crisis, is that it has put a spotlight on the system and awoken people to the utter corruption that has been beneath the surface for decades.

Most people understand what or who ‘finances’ and ‘financiers’ are but most do not know or remember what the term ‘oligarch’ means. To grasp oligarch we must look into the word ‘oligarchy’. The best way to approach oligarchy is to break it down into its Hellenic roots. The term comes directly from the Greek word ‘oligarkhia’ which can be broken down further as ‘oligos’ meaning “few” and ‘archo’ meaning “to rule or command”. When we reconstruct this term it could be simply defined as “being ruled by a few”.

An oligarchy is a system in which the power lies within the hands of a small group of people. The historical context of this word is interesting. Aristotle actually used this term as a synonym for “being ruled by the rich”; i.e. a plutocracy. As the reader can probably deduce an ‘oligarch’ is “one of the rulers within this system of governance.”

An oligarch is usually from a certain social class like royalty or connected to wealthy families. But an oligarchy can also be comprised of educational institutions or formed within corporate and military sectors. These rulers typically like to keep a successive power structure within their own group and pass this from one generation to the next.

Although oligarchic governance can be relatively harmless, the historical evidence and the very nature of such a system show that it can very quickly become tyrannical. Oligarchs depend heavily on the servitude of the public and often install an oppressive feudal system to meet their goals. A rather dark, but eerily true, portrait of this form of governance is the fictional work by George Orwell titled “1984”.

At this point we can move forward to the meat of this entry, which is the definition of a ‘finance oligarch’. Basically ‘financial oligarchy’ is a form of governance that rules through the control of money and the manipulation of the markets. Obviously in a scholastic realm this system mirrors closely with another form of rulership called ‘corporatocracy’ which is merely “a form of governance that is ruled by corporations”. In many ways these rulers, ‘Corporate Oligarchs’, are in fact synonymous with ‘Finance Oligarchs’. It is key to note that this oligarchic system is ruled by educational institutions, economic entities, banks, commercial entities, and lobbyists.

Typically when people speak of finance oligarchs they are usually referring to those within banking institutions and economic entities. It goes without saying that the borrower is a slave to the lender and this is where their power lies. We can take for example the six largest banks within America – Goldman Sachs, Morgan Stanley, JP Morgan Chase, Citigroup, Bank of America, and Wells Fargo. Due to their vast reach and consolidated power they now possess the equivalent of 60% of the United States GDP. Should there be any doubts to the shear magnitude of dominance they weld against their “borrowers”? But these pale in comparison to mega-banks like the Federal Reserve and the World Bank on a global level.

In the beginning of this entry it was noted that because of the crisis many people have taken an interest in how the economic system works, by doing so they have found the true power players. The so-called ‘technocrats’ have infiltrated the governments of the world whether by election or by installment but despite the corporate media’s love affair with the banksters people have seen through the veil. However, if they wish not to work directly in politics they will fund politicians and parties who share their same interests. But what they prefer to do is simply create massive amounts of debt to bankrupt countries and seize their assets. One must understand they do not need ‘actual’ money they can create it out of thin air if they wish.

As stated earlier we become subject to those we owe and so it stands to reason that most would not wish to bite the hand that feeds them. This of course is a total 180 from what our Founders believed. James Madison stated, “History records that the money changers have used every form of abuse, intrigue, deceit and violent means possible, to maintain their control over governments, by controlling money and its issuance.” If it was true in their days, how much more is it true today?