Forum Post: 1 PERSON 1 VOTE is dangerous to the 1%: Here are the docs that Citibank worked so hard to remove from the Internet.
Posted 10 months ago on Jan. 20, 2013, 9:05 a.m. EST by therising
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It used to be very difficult, nearly impossible to get ahold of these memos. They were sent by Citibank to their wealthiest clients around to world ostensibly to give insider advice on investments, but they revealed much more.
Read the entire memos at link above when you have a chance, but here's a small sample.
"Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. . . A third threat comes from the potential social backlash. To use Rawls-ian analysis, the invisible hand stops working. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant. Why kill it off, if you can join it? In a sense this is the embodiment of the “American dream”. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich. Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate? The answer is of course yes. But we suspect this is a threat more clearly felt during recessions, and periods of falling wealth, than when average citizens feel that they are better off. There are signs around the world that society is unhappy with plutonomy - judging by how tight electoral races are."
That 1 person 1 vote thing is what the 1% is most afraid of. They know that they're screwed if we ever figure out that we have the power and that we the 99% are all in the same boat. That's when the 1 person 1 vote thing makes them powerless.
That's when the the people's agenda rises above the corporate agenda.
Still think the rich might be right about trickle down economics? Read this: http://m.guardiannews.com/commentisfree/2013/jan/14/neoliberal-theory-economic-failure