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For nearly a year-and-a-half, individuals and small businesses have struggled to survive due to Covid-19. It isn’t the disease itself that is the most harmful. The financial burden of on-again-off-again lockdowns, draconian restrictions, and a populace terrified by unhinged fearmongering has forced tens of millions of Americans and likely billions worldwide into uncertainty at best, destitution at worst.
Article by David Patterson from Our Gold Guy.
Businesses have shut down permanently. People have lost almost everything, and the worst is yet to come for individuals and families who have not been able or willing to pay their rents or mortgages. One might think this suffering projects in some form or fashion all the way up to the top. That is not the case.
While nearly all classes of people have suffered to some extent, including the upper-class millionaires, the true financial elites have not. Those who fall into the category of “billionaires” have thrived. Moreover, there has been a spike in the number of people who have become billionaires during the lockdowns. What’s their secret?
“The top ten, those whose fortune exceeds 13 billion euros, saw their assets jump by 37 percent. The 490 others saw theirs increase ‘only’ by 25 percent.”
In reality, there’s no secret to it. This is how crises like the lockdowns act on wealth. Those who have more than enough tend to get even more. Those who have some are hurt a bit. Those who have very little are hurt the most. Trickle-down economics works both ways. In an ideal capitalistic scenario with all cylinders firing, wealth trickles down through companies down to the workers. Our current situation is not ideal, so hardship trickles down as well. But those with enough wealth to not be dependent on business atmospheres have risen through this crisis.
An article last week from Free West Media caught my attention as it highlighted this phenomenon manifesting in France. This is important, even to Americans, as France has had some of the heaviest restrictions on the population of any western nation. What we’re seeing there can and likely will be repeated here if we do not compel our government to end the restrictions. They must also end the “help” they’re giving people in the form of enhanced unemployment. This disease is not worth destroying businesses and paying people more to stay home.
Here’s the article from Free West Media:
According to the ranking published on July 8, the number of French billionaires has increased from 95 to 109 in one year. The increase in the wealth of the 500 largest French fortunes has jumped by 30 percent. Despite Covid, a minority of the ultra rich continues to prosper.
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The ranking was published in the magazine Challenges, showing that the cumulative wealth of the 500 largest fortunes in France has increased by almost a third in one year.
The list is dominated for the fifth consecutive year by Bernard Arnault, the boss of LVMH, with the largest market capitalization in Europe. The strong recovery in luxury goods in the second half of 2020, driven by Asia, caused the share prices of the giants of the sector, including LVMH (Vuitton, Dior, etc.) and Kering (Gucci, Saint Laurent, etc.) to soar, and therefore the assets of their executive shareholders.
According to the magazine, which made its calculation according to the professional assets of personalities between June 2020 and June 2021, the amount of the fortune of the 500 richest in the country “is now close to 1 trillion euros”. “These are the strongest annual increases ever recorded by our list, set up in 1996,” Challenges pointed out.
The number of French billionaires was 51 in 2011, according to the media. Arnault was the richest man in the world for a few hours in May, ahead of the American Jeff Bezos (Amazon).
“The crises make us stronger,” Arnault said at the end of April, commenting on the good financial results of LVMH, the world number one in luxury goods.
EBay founder Pierre Omidyar, eighth, doubled his estimated fortune between 2020 and 2021, as lockdowns have boosted the online trade in second-hand items. “The top ten, those whose fortune exceeds 13 billion euros, saw their assets jump by 37 percent. The 490 others saw theirs increase “only” by 25 percent.
On July 3, the anti-globalization association Attac directly targeted Bernard Arnault by painting black windows of Samaritaine, the LVMH department store recently reopened in Paris, to denounce “the indecent enrichment of billionaires during the health crisis”.
This pandemic continues to send shockwaves around the world. For a disease with a recovery rate of 99.97% for people under the age of 60, it’s insane that we continue to crash the economy over it. Will common sense ever prevail or are the globalist elites too busy enjoying their good fortunes to worry about the impact on the rest of us?
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Contrary to the beliefs of far too many, wealth is not evil in and of itself. We should all strive to achieve financial security, independence, and prosperity, but cashing in on the suffering of others is inhumane.
New Conservative Network Seeks Crowdfunding Help
They say we have to go big or go home. We’re trying to go big and bring the patriotic truth the the nation, but we need help.
Readers may or may not realize that over the past year, we’ve been bringing more conservative news and opinion outlets under our wing. Don’t take our expansion as a sign of riches; all of the “acquisitions” have been through sweat and promises of greater things to come for all involved. As a result, we’ve been able to bring together several independent media sites under a unified vision of preventing America from succumbing to the progressive, “woke,” Neo-Marxist ideologies that are spreading like wildfire across America.
The slow and steady reopening of America is revealing there was a lot more economic hardship brought about from the Covd-19 lockdowns than most realize. While we continue to hope advertising dollars on the sites go up, it’s simply not enough to do things the right way. We are currently experiencing a gap between revenue and expenses that cannot be overcome by click-ads and MyPillow promos alone (promo code “NOQ” by the way).
To overcome our revenue gap and keep these sites running, our needs fluctuate between $3000-$7000 per month. In other words, we’re in the red and hemorrhaging.
The best way you can help us grow and continue to bring the truth to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well.
As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going.
Thank you and God Bless,
We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
We need help. I don’t want to say “desperately,” but the need is definitely great. If you have the means, please donate through our GivingFuel page, PayPal, or our brand new GiveSendGo page. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!