The Failure of Capitalism

admin_general - Posted on 03 May 2021

By Bad News Bruce

As everybody knows, the Gulf of Mexico is being polluted by an abandoned mine in Manatee County near Tampa Bay, Florida. This is a part of the story that nobody will tell you. The media will say, “Oh they’re being poisoned by a small company.” But it is not a small company. It is a huge company. 

But what you may not know is that the company that owns the mine is in Pennsylvania. The name of the company is DMV Holdings. DMV Holdings is part of a bigger corporation that is headquartered in the Caribbean. But what right does a Pennsylvania corporation have to do with owning a wastewater containment pond that could poison thousands of people? Because it is a greedy company. It is a holding company due to an abandoned mine.

DMV Holdings is a holding company. What is a holding company? If you’re bankrupt, a holding company will buy you. They are like a holding ground, like an insurance policy. They buy you out, so you don’t go under. They hold you up until you can take care of yourself. When failing companies are held by holding companies, you can buy shares of the company for as little as 10 cents a share. And if the company goes bankrupt, then you’ll get a tax break. They want that too. 

This wastewater pond is leaking and could affect the groundwater of over 100,000 people. Thousands of people could be poisoned. In my mind, not only the company but the executives should be put on trial for murder if any person is killed from this. If I personally kill someone, I will be charged with murder. If it’s a corporation, then the executives should be charged. But they never are due to the law that goes back to 1890 that makes a corporation similar to a private individual. The executives will never be charged. 

The idea of the corporation being owned by other corporations is scary to me. They can pay off the executives by giving them one bit coin worth $62,000. No one will see the money because it will be transferred electronically through electronic wallet. Also, it may look like the guys are in jail, but they won’t go to a regular jail. They would go to a white-collar jail. And some of these prisons are more like country clubs than prisons where prisoners are given the cell key. 

Bad News Bruce signing off


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