The 1933 Wall Street Putsch is looking like foreshadowing.
Business leaders like JP Morgan and Irénée du Pont were accused by a retired major general of plotting to install a fascist dictator
I’m not hearing the warning yet from a retired major general, and Elon Musk is perhaps no automobile union-busting Irénée “Black Legion” du Pont (or maybe he is), but there surely are parallels to history worth studying.
Galloway makes the case very eloquently without using any real history at all.
Elon will be a poster child for how power corrupts potential…. The kind that reduces effectiveness. Last week at TED, Mr. Musk continued to disparage what’s left of our nation’s umpires, calling the SEC “bastards” for its enforcement action against him after he tweeted he had “funding secured” to take Tesla private. Elon insisted the Commission had bullied him into saying he’d lied and had no funding. The day after Elon’s TED interview, a court filing confirmed that, yes, he had lied, and funding had not been secured. Mr. Musk’s wealth results, in large part, from the protocols of the SEC, not despite them. Likely the biggest one-day hit to his wealth would occur if he were to leave this ecosystem of bastards and re-list TSLA elsewhere. Without subsidies and credits from the entity he has such contempt for (Uncle Sam), would TSLA even exist?
Putting a town square under the ownership of one man has already proven catastrophic.
In fact, Galloway gets history of America completely wrong and thinks the obvious mistake is something new or novel when it’s instead a rehash of long past failures. Facebook was clearly going to turn out very badly, as I warned here in 2011 by explaining why I deleted my profile in 2009.
A better exposure of the “emerging” caste system (Galloway hints at only briefly) is to look more honestly at the origin story of America, which was unquestionably a slaveocracy intended to block abolition movements and create a new country of tyranny.
Consider for a minute whether Peter Thiel and Elon Musk are successful in America because it rewards their apartheid/caste mindset of wealth generation, which they learned well when their parents benefited so much from one in South Africa.
Others are demonstrating through data analysis that (in classic dictator fashion) the big pronouncements to remove “bots” on Twitter is a tell, which is to say that buying Twitter is meant to do the opposite. Armies of “not so secret” bots can be expanded dramatically by dictators to generate fraudulent wealth (and power) without accountability.
Kirsch and Chowdhury tracked 186 Tesla-related bot accounts and found that after each was launched, the company’s stock appreciated more than 2%. (They looked at the average stock return for the week previous to the bot’s creation and for the week following.) While Tesla’s market value has increased over the years, the price has seen dramatic ups and downs. The periods around bot creation showed sharp increases, but outside those windows, trading was far more volatile, Chowdhury said. “This isn’t a causal relationship, but it does raise questions,” Kirsch said, about why there’s a correlation that does not appear to be random. “We’re trying to understand the mechanism. It can’t be just a bunch of tweets that push the stock. People have to notice them, interpret them and act on them.”
As Doctor Strangelove put it in 1964 when predicting realities of today’s big data security “The Whole Point of the Doomsday Machine is Lost if You Keep it a Secret!”