Yes, we see the politicians on the TV or the internet. Of course, there are lobbyists. And they lobby for companies like Microsoft and Google. That’s American politics in the cube. No, so wrong.
There was huge capital accumulation during the 19th century, and so-called “robber barons” gained significant wealth. They were (and are) basically political entrepreneurs. Their wealth is so enormous that they make whole families that are interlinked.
As Nomi Prins writes in her book “All the Presidents’ Bankers: The Hidden Alliances that Drive American Power” regarding Franklin Delano Roosevelt: “The Morgans (the richest), Rockefellers, Astors, and Vanderbilts were all friends or neighbors of FDR.”
These families hold control over the big banks and exert significant influence on the judiciary, executive, and legislative power. Their influence can be proven by letters the bankers were writing to US presidents (see Nomi Prins’ book) or old newspaper articles (see the book by Lundberg).
Now, let’s make things logical. John D. Rockefeller owned 418 billion dollars (2019 dollars; inflation-adjusted). According to nowadays Forbes the whole Rockefeller family owned only 11 billion dollars in 2017. And they say the wealth is multiplied disproportionately for the 1 % of the richest. Or how can you explain this? How do you transform 418 billion into 11 billion? Did they lose their wealth in slot machines?
I don’t think so. Not only they didn’t gamble away their fortune. They managed to multiply it and are there with us. Even though we don’t see them.
Their wealth can be as huge as the US’ GDP (PPP) which is around 20 trillion of dollars.
But there was no hiding back then. The book called America’s 60 Families (by Ferdinand Lundberg) derives lots of its information from mainstream newspapers where these issues were talked about in the past.
Americans should just acknowledge that every country has its rich background economic forces that are enormously influential and the US is no exception.
Essential reads: America’s 60 Families (by Ferdinand Lundberg), All the Presidents’ Bankers: The Hidden Alliances that Drive American Power (by Nomi Prins)
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