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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWall Street Mega-Banks Are Buying Up The World’s Water
A disturbing trend in the water sector is accelerating worldwide. The new water barons the Wall Street banks and elitist multibillionaires are buying up water all over the world at unprecedented pace.
Familiar mega-banks and investing powerhouses such as Goldman Sachs, JP Morgan Chase, Citigroup, UBS, Deutsche Bank, Credit Suisse, Macquarie Bank, Barclays Bank, the Blackstone Group, Allianz, and HSBC Bank, among others, are consolidating their control over water. Wealthy tycoons such as T. Boone Pickens, former President George H.W. Bush and his family, Hong Kongs Li Ka-shing, Philippines Manuel V. Pangilinan and other Filipino billionaires, and others are also buying thousands of acres of land with aquifers, lakes, water rights, water utilities, and shares in water engineering and technology companies all over the world.
The second disturbing trend is that while the new water barons are buying up water all over the world, governments are moving fast to limit citizens ability to become water self-sufficient (as evidenced by the well-publicized Gary Harringtons case in Oregon, in which the state criminalized the collection of rainwater in three ponds located on his private land, by convicting him on nine counts and sentencing him for 30 days in jail). Lets put this criminalization in perspective:
Billionaire T. Boone Pickens owned more water rights than any other individuals in America, with rights over enough of the Ogallala Aquifer to drain approximately 200,000 acre-feet (or 65 billion gallons of water) a year. But ordinary citizen Gary Harrington cannot collect rainwater runoff on 170 acres of his private land.
https://www.popularresistance.org/wall-street-mega-banks-are-buying-up-the-worlds-water/
Beware when you buy property, it was just mineral rights, now its water, greed has no boundaries.
cali
(114,904 posts)These are real issues. They are world wide threats and they underline the increasing power of corporate entities.
And we ignore them at our peril.
This is The Republican Way, Inc.
We will all be consuming corporate GMO-glyphosate food-like 'product'
and begging for thimbles of corporate 'purified' water-like fluid.
And we WILL pay to 'like' it. Or else.
Angry Dragon
(36,693 posts)Hortensis
(58,785 posts)more valuable over time. We can't live without fresh water. Fresh water supplies are becoming scarcer over much of the planet. Therefore the price will go up. Obviously, further privatization of this incredibly important national resource is not in OUR interests.
Qutzupalotl
(14,313 posts)They own San Pellegrino, the only commercial mineral water I like. When I found that out, I got a SodaStream and a Brita pitcher. Now I make as much as I want, and it's cheaper (and doesn't line Nestle's pockets)!
think
(11,641 posts)Buckeye_Democrat
(14,854 posts)... and then sell it to us?
All with government approval.
JustABozoOnThisBus
(23,343 posts)... I think JPMorgan started out as the water company serving Manhattan. Then they got into banking and out of the water business.
https://www.jpmorgan.com/country/US/en/jpmorgan/about/history/month/sept
Shandris
(3,447 posts)Three separate articles on cities with fouled water today in North America alone, and a continuing but completely and TOTALLY hushed up incident happening rather locally.
Three times is enemy action.
I'm sure the self-sufficiency thing is no big deal. Venezuelans, for one, sure do know the power of trusting their government to take care of food supplies! I wouldn't give it a second thought.
Demonaut
(8,918 posts)Doremus
(7,261 posts)It was when junior was in office. At the time it was said to be the largest individual water holdings in history and a major tipoff of the coming water wars.
Poor kids being born today are going to have to learn to fight the oligarchy for the barest necessities.