The WEF 2023 in Davos Once Again Highlighted the Unfairness of the Current System. More Than Ever, the World Needs the Plan Bitcoin.
Larry Fink said it all: "BlackRock doesn't have a mandate to make the planet a better place, just to maximize people's profits."
Davos is a small Swiss town among many others.
A ski resort of just over 11,000 inhabitants located in the Swiss Alps, in the canton of Graubünden.
To be honest, there would be little reason to talk about such a small town anywhere in the world.
But Davos is where the powerful people of the current system meet every year. Every year, Davos hosts the World Economic Forum (WEF), which brings together multinationals, bankers, oligarchs, powerful politicians, and so-called influential intellectuals worldwide.
Davos is probably the only place in the world where during one week you can find several dozen billionaires gathered in one building.
For Davos, it all started in 1971 at the initiative of Klaus M. Schwab, then professor of economics at the University of Geneva. He invited 444 business leaders from Western Europe to participate in the first European Management Symposium organized in the new Davos Congress Center.
Under the patronage of the European Commission and various industry associations from the Old Continent, Klaus Schwab intends to familiarize European companies with management practices in the United States.
Klaus M. Schwab then created the European Management Forum as a non-profit organization based in Geneva and invited European business leaders to Davos, where the annual meeting was held in January.
After the events of 1973, notably the end of the fixed exchange rate system enshrined in the Bretton Woods Agreement and the Israeli-Arab war, the Annual Meeting no longer focused solely on management issues, but also on economic and social problems.
Political leaders were invited to Davos for the first time in January 1974.
Only the COVID-19 pandemic temporarily disrupted this beautiful mechanism. The 2023 edition was therefore an opportunity to return to normal for all participants in this great annual celebration of capitalism.
Because yes, for the detractors of Davos, this WEF symbolizes the omnipotence of money and the excesses of ultra-liberalism.
When you read the vocation of the WEF, namely “Improving the State of the World,” you have something to laugh about. Not that the will to improve the state of the world is laughable, on the contrary, but rather that the meetings that take place there have nothing to do with this objective which initially may seem laudable.
During this week in Davos, you could hear Larry Fink, the CEO of BlackRock, defend his decisions at the head of BlackRock as follows:
“BlackRock doesn't have a mandate to make the planet a better place, just to maximize people's profits.”
The asset manager has become so powerful within corporations and some states that he seems untouchable. But if Larry Fink's goal is only to maximize people's profit, why invite him to a forum that is all about “Improving the State of the World”?
Then we could hear Jamie Dimon, the CEO of JPMorgan, criticize Bitcoin. To criticize is a euphemism here since dear Jamie once again described Bitcoin as a fraud or a hyper-fraud according to his words.
So we have a fascinating situation here.
Jamie Dimon calls Bitcoin a fraud while JPMorgan is offering Bitcoin to its clients... Isn't there something fascinating here? But Jamie is no stranger to contradictions, as he, like all banksters, always chooses profit over people.
Inviting bankers to a forum aiming at “Improving the State of the World” is amazing because it is total nonsense.
This WEF in Davos looks more like a big meeting of the ultra-rich who want to protect their wealth and maximize their profits in the future. Do you want proof of this?
If 100 countries and regions were represented this year in Davos, for 703 registered people, you will see that 2/3 of the participants are from only 10 nations:
And out of these 10 nations, you have only rich countries, since only South Africa and the United Arab Emirates are not in the Top 30 richest countries in the world. Nevertheless, they are excused since they are very close to integrating this Top 30.
In short, the countries that would need the most help and therefore be listened to "Improve the State of the World" are never invited to Davos. They are probably not interesting enough for the ultra-rich who just like to spend a week with each other in the Swiss Alps in the middle of winter.
Because that's what it's all about.
All eyes of investors and financiers are on Davos for a week. But in the end, nothing concrete comes out of this WEF. Even worse, the same people who criticize the allegedly negative environmental impact of Bitcoin all come to Davos in private jets.
Have the media calculated the environmental impact of Davos?
It must not be very good!
Of course, no one will talk about it, because the narrative the media choose to push is that of the powerful people in the current system: Bitcoin must be fought, Bitcoin is dangerous…
There were a few minutes when António Guterres, the Secretary General of the United Nations, reminded us that “the world is flirting with climate disaster,” and that “we must act urgently.” This must not have weighed too much in the balance as Larry Fink had said earlier in the week in Davos that the goal of these participants was not to save the world but to maximize the profits of their clients.
During this Davos 2023 forum, bankers have taken to the stage to remind us of the urgent need to strictly regulate Bitcoin.
Among these bankers, Jamie Dimon who had just before described Bitcoin as a fraud.
Let's be clear, either Bitcoin is a fraud, in which case JPMorgan should not offer it to its clients, or ask for its regulation, but rather its prohibition. Or Bitcoin is not a fraud, and the powerful people in the current system are lying to you.
I think you have understood that I am in the second category, those who have understood that Bitcoin was denigrated because it represents a chance for a fairer system for the majority.
For all the inhabitants of the uninvited countries, this Davos forum is only a meeting of the ultra-rich who do not care about their daily problems, which are however numerous. Bitcoin is for them already a plan A against the injustice of the current system and corrupt leaders who do not care about their future.
Bitcoin is not perfect. But no system is. However, hundreds of developers are working and will continue to work in the future to try to improve Bitcoin to help as many people as possible take power over their lives by giving them hope for a better future.
It may sound basic, but for hundreds of millions of people around the world, this is the daily life they have to deal with.
Davos 2023 highlighted more than ever the need for a fairer system that would benefit as many people as possible. And this system is not, and cannot be, embodied by the current monetary and financial system. Bitcoin has the potential to represent that system.
This is also why the Bitcoin revolution is so important to the world of the future.
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