G7: The Cost of Uselessness

The G7 Summit is an obsolete, useless talking shop, as Finnian Cunningham so adroitly says. RT calls it The Unbearable Pointlessness of G7. Canada, France, Germany, Italy, Japan, UK, and the United States constitute the G7 gang. It should strike any logical thinker as extremely odd that the world’s largest economy (by purchasing parity-based GDP), China, is not part of the club. Why is that?  It’s clear.  The club is for western turbo-capitalist ideologues only; the self-proclaimed world hegemons.

Yes, the G7 are, no doubt, a useless talking shop – and much worse. These seven self-nominated leaders of the world are also among the greatest war criminals of the globe. They are involved in, and initiate, conflicts and wars that have in the last 20 years, roughly since 9/11 gave them a ‘free pass’ to raise in the name of fighting endless terrorism havoc around the globe, killed an estimated 15 to 20 million people, either directly or by proxy and mercenary armies.

That is, of course, much worse than uselessness.

Does anyone ever talk about the value and cost, of these ‘summits’?  The value; i.e., the output, is at best zero and in most cases negative. These conferences highlight conflicts, create new ones and add to the fire that was just smoldering. And I am not talking about the Brazilian Amazon fires. This was the case of the G7 in Biarritz. The high-ranking delegates were insulting each other, plus, as this was not enough, barbs were thrown back and forth across the Atlantic between Macron and Bolsonaro. That just shows about what level of human consciousness we are talking.

Trump was confusing the lot, or those who paid any attention to the outbursts of the creator of pure chaos, more tariffs on Chinese goods, then not, then again, levying tariffs for French wines, new sanctions against Iran, Venezuela, threats of new aggressions and even war with Iran; and surprise-surprise “Kim Jon-un, North Korea’s President, is a friend”. Peace talks were not even on the back-burner. So, it would be fair to say, the benefits or values of this summit were less than zilch, they were negative. It was a laughable propaganda stint, but an expensive one at that.

Defining the costs of the event is a rather complex algorithm. However, any cost for an event that produces a sum of negative values, is money thrown into a bottomless pit. The costs, of course, do not just amount to travel, lodging, good food and drink. They include for starters also the entire entourage of the megalo-politicians, police and military security. Biarritz alone was protected by about 20,000 police and military troops combined. They shielded the worldly leaders (sic) from anti-G7 / anti-establishment demonstrators.

Protests are widely justified against this clan of smiling tyrants and despots, with the audacity to appoint themselves to the world’s rulers. No UN or other international body has selected or ratified them. Their arrogance with impunity is meant to irradiate power around the globe. The smoke of grandeur emanating from their heads can most likely be seen from space. The sad story is that the vast majority of this world, especially the western world, takes them seriously. They bow to the G7 nonsense; they accept their often-criminal decisions for wars, conflicts and killer-sanctions, as God-given. The G7 decide over the fate of sovereign nations, like Iran, Venezuela, Cuba, Syria, Afghanistan – and who is next? If it wasn’t for Russia and China the damage they cause would indeed be unbearable.

They selected themselves as rulers of the universe. Unheard of, only half a century ago, that something so aberrant like the G7, the G20, the WEF (World Economic Forum that meets every January in lush Davos, Switzerland), are able to assemble many of the same rulers to hold the scepter of power over the planet. How come the peoples of this world allow their supremacy with impunity? One can but shake one’s head about this lunacy.  What has humanity become?

The Trump delegation usually travels with a flock of aids, journalists, advisors, let alone his bodyguards, and the blinding cars he brings from Washington by special air carriers. And all the others? Maybe slightly less, as they are, as vassals of the Great US Emperor, bound to be a bit more modest. Nevertheless, the total cost must be in the hundreds of millions – all counted, including shadow costs, environmental damage, CO2 emissions, and ‘externalities’ – which includes everything that establishment economists don’t want you to know, say, a total cost of 200 to 300 million dollars?

Maybe that’s an underestimate. The published figure on what Biarritz alone spent on this illustrious event is around US$ 41 million equivalent,15,000 police and about 5,000 troops, but not counting for the damage caused by the authorities fighting peaceful protesters. Add to this the cost of all the other attendants. Never mind the exact cost. The sheer fact that a grotesque amount of money in the range of 200 to 300 million dollars, is spent for nothing, zilch, for the bolstering of egos of some megalos, is an absurdity of our western civilization.

Hundreds of millions of dollars – a fiat currency produced at will and whim by the Federal reserve (The FED, the entirely privately owned US Central Bank) – nevertheless a currency that still drives much of the world, is used to pay for basics, like food, housing, clothing, health care and what’s left of education  – meaning what the world rulers are still allowing young people to be educated with.

Just think about it. Who pays for all these hundreds of millions of dollars, euros, yen, or whatever other fiat currency? You, the tax payer. So, you, the tax payer, have something to say about how your money is spent, don’t you think?

Therefore, we the people have to stop this arrogant nonsense that leads to less than zero, or worse, but costs hundreds of millions that could be spent on education and health services and other public services, including taking care of refugees in the G7 countries, or alternatively in countries to be rebuilt after the destruction by wars for greed and hegemony by the very G7.

So far – and every time more – the money spent on G7 and similar events, is like negative interest — destructive. You, the citizen and tax-payer, spend money for something that has a negative return. It is as nefarious as if you deposit your savings in a bank and the bank, instead of giving you an interest on your savings, charges you interest for keeping your money, then lends it to, say, a corporation, but the corporation has to pay back less than it borrowed. In other words, you the ‘small saver’ subsidize the big corporation, or anybody who can afford and is considered ‘eligible’ and solvent enough by the bank to borrow money.  It’s a new form of transferring resources from the bottom to the top.

The money spent on the G7 – or other comparable events – is similar. The event rulers take your money (taxes) and transfer it upstairs, where you will never see it again. Not only do you get nothing for it, but it costs you more, as the G7 foment wars and conflicts which kill millions, annihilate entire countries’ infrastructure, housing, schools, health facilities and generate an influx of refugees, for all of which you pay again.

Let’s see.  A year of primary education, say in Africa, costs about US$ 400 / per student, and about US$ 650 for high school education (2017). Providing decent health care, preventive and curative, per person in Bangladesh amounts to about US$ 650 per year. Assuming the money spent on the G7 Biarritz summit was about 250 to 300 million, you could provide education for a year to about 550,00 students in, say, Kenya, or provide a year of decent health care to about 430,000 Bangladeshi. Or the G7 funds could build drinking water and sanitation facilities for about 2.5 million people in developing countries. These figures may have a margin of error of plus or minus 20%. But you get the picture.

Or closer to home, how many refugees could xenophobic Europe, especially France and Italy,  take care of – refugees driven from their countries, precisely for wars started and sustained by the G7s, to line their weapons industries with huge profits, to dominate the world’s natural resources and eventually put all the people under one hegemonic, globalized roof — one culture, one currency, and only one kind of thinking and ideology allowed — their final goal.

Well, these refugees streaming to Europe, children without parents, divided families, sick people, people dying in the ditches, on the sides of roads in self-built camps, camps exposed to the climate elements, camps that are eventually erased by bulldozers – these human beings put into misery by the very G7 – why not use the money spent on such nefarious fora to impress the lot of the well-off populations on either side of the Atlantic, instead on a little humanitarian act, act of consciousness — what’s left of it — taking care of the trans-Mediterranean refugees?

Mr. Macron, you are besieged by the Yellow Vests, who will not go away. What do you think canceling the event and instead pledging the funds for humanitarian shelter for refugees, and lobbying with the remaining G6 to do the same would have done to your Presidency, to your ever-sinking popularity? Maybe some uplifting? You could badly need it. But the image – that’s what it is — the image of grandeur, rubbing elbows with the so-called “leaders” of the world, is of all-overarching importance, isn’t it?  Never mind the unbearable suffering of many of the people you claim to democratically represent.

• First published by the New Eastern Outlook – NEO

Peter Koenig is an economist and geopolitical analyst. He is also a Research Associate of the Centre for Research on Globalization. Read other articles by Peter.