Originally aired on January 19, 2023
Raymond Baker, the author of “Invisible Trillions,” claims that capitalism has been corrupted by those who seek to benefit themselves at the expense of society. This crony capitalism poses a direct threat to real democracy, and Baker offers insights into the flaws of today’s financial systems and possible solutions. Klaus Schwab also makes an appearance, discussing eating crickets and the latest fashion trends.
Is Capitalism Threatening Democracy?
- Capitalism has been corrupted by corporations and banks who operate outside the control of democracy and regulation.
- Corporations use financial secrecy to move money across borders, beyond the capacity of local officials to detect.
- Banks are willing to accept dirty money because they like the money that flows into their economy to balance trade and fiscal deficits.
- The world has become reliant on the financial secrecy system to function, and this poses a threat to democracy.