The referendum results rescinding UK membership in the European Union are being characterized in the mass media as madness spurred by racist feelings toward immigrants. Prices will rise for the average Brit, the news-mongers tell us, jobs will evaporate, and storm troopers will rule. What the commentators never mention is how much this decision will cost the people who sign the reporters’ and editors’ paychecks and write their scripts.
The “race” against whom this referendum was directed is the minuscule segment of diversely colored humanity that controls all the world’s assets, including the mass media. Rich peoples’ investment in the rigged economy of Europe–rigged to enrich the owners at the expense of the people–is devalued ever so slightly by this move, and they don’t give up a penny without a fight. In the media, they fight by hurling epithets at the British majority.
In the USA, when rich people lost about a tenth of their assets in the 2008 crash, they blackmailed Congress into a transfer of billions from us to them. In a world that runs on credit, they reminded us that the money spigot can be turned off at any time, and our leaders capitulated. They’re teaching that same lesson in London and Edinburgh today, delivering reinforcement on TV screens and in newspapers throughout the profit-motivated world. They are demanding capitulation.
You may have noticed that the mass media in the USA have suppressed all discussion of the reasons Brits actually give for wanting to leave the economic union. Typically, people on the street don’t attribute their dissatisfaction to racism, but to underemployment, low wages, corruption, and the breakdown of social institutions. They blame their leaders and their media, who have uniformly cautioned them not to leave the EU, overriding these powerful forces by a 52 to 48 percent plurality. The media were so frightened of this outcome that they censored discussion of the merits of withdrawal, but the censors failed to persuade.
It shouldn’t come as a surprise that rich people favor union when it unifies bankers and traders, but not when it unifies workers and common people. The European Union establishes uniform protocols for the conduct of international business, a pursuit open almost exclusively to the rich and super-rich, and the protocols are in every respect written to their advantage. The common people of England, Scotland, Wales and Northern Ireland, noticing that their own quality of life has been in steep decline, have now voted to repeal those protocols, and the rich are enraged.
Nobody can predict whether the rich will make good on their veiled threat to crash the world economy if UK voters don’t reverse their decision and compensate traders for their modest losses. It might be profitable, at this stage, for the owners to note that they are vastly outnumbered and that their property rights are nothing but words on paper.