The image of Warren Buffett as a compassionate, wise, intelligent old octogenarian is a well-crafted PR scam. Vandana Shiva shatters the myth of a man who (as of the publication date of her book) is the third wealthiest man in the world whose net worth is $60.8 billion. His hedge fund is Berkshire Hathaway and cotton made him a lot of money (More about cotton and the travesty of Monsanto in future blogs). The following is a direct quote from her book. These are excerpts. To be truly put in a state of shock, her entire book needs to be read and reread.
“GAMBLING IN THE GLOBAL CASINO WHILE APPROPRIATING THE WEALTH OF PEOPLE: THE STORY OF BUFFETT AND GATES.
“The One Economy being built by Bill Gates and Warren Buffett and Big Money is evidenced by the fact that the largest investment made by the Gates Foundation Trust, worth $11.8 billion in 2014, is in the US conglomerate, Berkshire Hathaway, whose Chief Executive Officer Warren Buffett–a trustee of the Gates Foundation–has donated billions to the Foundation. (The BMGF Trust manages ‘the investment assets and transfer(s) proceeds to the Foundation as necessary to achieve the foundation’s charitable goals’. The Trust’s biggest investment stakes are in Berkshire Hathaway. Bill Gates also serves as a board member of Berkshire Hathaway which has 60 subsidiaries, mainly US-based, in sectors including agriculture, energy, retail, media, transportation, electronics, chemicals jewelry, furniture and insurance. In our world this would qualify as conflict of interest, but in the world of Big Money it is ‘innovation’.
“How did Buffet get so rich? Warren Buffett did not become rich with Berkshire Hathaway; he accumulated wealth through the Government Employees Insurance Company (GEICO). He sold insurance to government employees, people who do not get to choose their insurance terms and conditions; it is their employer who picks from among the choices that Buffett decides to offer. At a price of his choosing. Signed off by the regulator and paid for by the employee. A part of every government salary, automatically diverted as deductible insurance payment into Buffett’s bank–an efficient, self-sustaining model of cash flow to Buffett-Land.
“Casinos and insurance companies, the most lucrative enterprises in the world, use probability to earn profits. Legal language is employed to define events that rarely occur, and it is these improbable events insurance contracts cover. Probability is used to earn profits by insuring events that rarely happen. And in case of a rare payout, Buffett loses the insured value, but retains a deductible which covers his costs allowing him to break-even. Break-odd is what happens when policies expire without a claim. According to the Chicago Mercantile Exchange data, collected over three years — 1997 to 1999 — 76.5% of all options, like insurance, expire worthless. Additionally, 76.5% of all government employee’s insurance premiums go directly to the insurance company. Moreover, the cost of the payout due, if the insured event does occur, is pre-factored into the insurance premiums paid; the insurance company gets an insured income with 100% certainty.
“While global economies crashed and Greece and Portugal were imprisoned by loan terms, Warren Buffett was busy acquiring the Burlington Northern Santa Fe rail system on November 3, 2009. He sold 5.5 Million put options to establish a stake in the company before he purchased the entire company and made it private. Then he withdrew his account and cashed in. He also sold put options on various stock indices around the world, raising $4.9 billion from the sale.
“Put option sellers are the sole survivors of an economic meltdown, their capital and interests insulated from the economy by the government. Just as during the melt down of 2008.”
Further evidence of how Buffett and Gates colluded to pool billions of dollars from 28 private investors who will influence how the world produces and consumes energy will be provided in future blogs. Gates is currently behind a move to force chemical, fossil fuel dependent agriculture and patented GMOS through the Alliance for a Green Revolution in Africa (AGRA) which was founded through a partnership between the Rockefeller Foundation and the Gates Foundation. It is an attempt to trap African farmers into developing a dependence on fossil fuels that should be left underground, as well as on Monsanto for seeds and petrochemicals.