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Cosatu: Capitalism is a scam

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CosatuPresidentSidumoDlamini

Independent Newspapers

Cosatu president Sidumo Dlamini. Picture: Sizwe Ndingane.

Growing poverty, unemployment and equality around the world indicate capitalism is a scam and must be scrapped, Cosatu president Sidumo Dlamini said on Thursday.

“The world is looking for a way out,” Dlamini told delegates attending the sixth Presidential Council of the World Federation of Trade Unions in Johannesburg, according to a copy of his speech.

“It is unfortunate that when this inhuman system has been exposed at all levels of society, the left forces in the world do not speak with one voice and present their own alternatives.”

Dlamini urged union leaders to find alternatives to present to society, “given the glaring failures of capitalism”.

He said it was unacceptable that out of the seven billion people on earth, more than 925 million remained hungry and without hope.

“How can this happen and the world keeps quiet to openly point out that capitalism has failed humanity?”

A recent report by the International Labour Organisation shows that about 1.1 billion people in the world are either unemployed or living in poverty.

Dlamini told union leaders they carried a heavy burden to provide answers to the unemployed.

“It is us, the left axis in the world, who must provide an answer on how to build the 600 million jobs needed to sustain economic growth and maintain social stability,” he said.

“It is us who must table a solution before society on how to address unemployment by the more than 74.8 million youths who are part of the 3.3 billion global labour force.” - Sapa

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Gman, wrote

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04:15pm on 11 February 2012
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The scam of capitalism is real. Fractional banking - banks lending money they dont have nor does this money exist and they are legally allowed to loan these assets they dont own to others, you try that and see what happens to you! Then the interest, there is not enough money in the world to pay back interest, interest money is never printed so this is designed to eventually channel all the money from the middle class to the elites. If you actually give it some thought and do some reading you woulds bhe a lot wiser and realise how capitalism is turning the world into one massive corporation, this process has been coined and called a corporatocracy and is known by millions of people, not sheeple. The economy is a scam and made complicated by very smart people so the layman cannot unravel it. Even those who study it are unable to see the bottom line, that the economy is based and controlled by a few people smart enough to print money for the states and the UK. Do some research, educate yourselves. Google things like the bank of england, fractional banking, the federal reserve, Rothschild family history, Rockerfellers, Bush banking family etc etc etc, the list goes on and on.

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Anonymous, wrote

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04:01pm on 11 February 2012
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Message below is meant to be @ Walter

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Anonymous, wrote

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02:01pm on 11 February 2012
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I dont have an alternative to Capitalism either but its a pity sheeple like yourself cannot see the truth and would rather stick their heads in the sand and insult people who dont buy into the sham. Maybe a genius like yourself would be able to think of an alternative if you didnt emerse yourself in the bullcr@p that you have taught and been brainwashed to believe and never question.

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Anonymous, wrote

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01:39pm on 11 February 2012
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You are completely right and people are slowly waking up to it. The main issue is peoples trust of main stream media and a belief that world leaders are honest and uncorruptable when in fact they are the most corrupt, their goverments owned and run by banks who lend them money with interest so their goverments dont collapse, look at greece and italy, collapsed goverements replaced by bankers. People who refuse to see the truth or believe everything they see in the main stream media. The time is coming however where these truths are going to be revealed as countries collapse under massive debts that are designed to be loaned engineered to be impossible to pay back. Unfortunately the sheeple of the world shout conspiracy when they dont want to see the facts. The only reason money has value is becasue people believe it does and when they belief changes the world will change for the better. The dollar is printed at will by a private company who is not legislated or under any laws and is never audited nor are the people who sit on the boards known to the public. We will all get poorer and poorer and inequality will grown and grow until a few elites own and control everything through their corporations. Its time to catch a wake up and educate yourself through channels besides mass media. The amount of info not reported is astonishing and protects those behind the scenes. For example the Rothschild family own an estimated half of the worlds wealth estimated to be near 500 trillion dollars but you only hear about Bill Gates etc being the richest people in the world, you hardly hear the name Rothschild although they pull the strings behind most govermenets and corporations. Ask yourself how the Rothschild remain relatively unknown in a day and age when we have endless means of communication.

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Anonymous, wrote

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12:44pm on 11 February 2012
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Unfortunately Sidumo is right, its not just a scam to suck money out the middle class to the elites of the world but it is proving to be a massive faluire, just look at the states, greece, spain etc etc. Trillions of debt and who is this debt owed to? The federal reserve bank which is a private company owned by the same people who own the top 10 corporations in the world, international bankers sucking the life out of the population with falsehoods like interest charged on dollar notes they print out of thin air. It is a total sham and the biggest fraud of our time. They are the ones who decide which companies and banks should fail and succeed. For those of you who think different maybe you should do some research instead of watching CNN which is owned by the same group of elites. The entire economy is a big fraud which has been going since the late 1800's with Nathan Rothschild as the mastermind. I am not advocating socialism or communism but capitalism in its current for is set up to make sure that the rich get richer and more powerful while the middle class is made to pay taxes and interest which is forever increasing and therefore shrinking the size and value of the people. People who are indebted to banks are modern day slaves and Capitalism ensures that most of the population is effectively owned by the people who print the money, give and recall loans at will. Really do yourself a favour and google the Federal reserve bank, its not a conspiracy theory, its simple fact. Capitalism is fin ally collapsing under the massive fraud that it is, it simply cannot be a permanent resolution to the way money is managed it is flawed and we are now seeing the results. If China called in their loan to the USA the USA would completely collapse so what happened to the most powerful capitalist country in the world? It is owned by a country that capitalist despise.

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Anonymous, wrote

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08:10am on 10 February 2012
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when you have a small family there is no poverty but if want to keep on having sex and have 10 children you will always have poverty

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baboona, wrote

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09:27pm on 9 February 2012
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I think this dude either had an "F" for history, or his time travel machine is broken and his brain is stuck in the 1960's.

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james, wrote

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08:51pm on 9 February 2012
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Hey Sidumo, we of the "occupy" movement here in the States object to you stealing our idea. Besides you need to be homeless and unwashed and educated in the liberal arts (if educated), to qualify and sprout this wisdom. You clearly fall short because you are as wealthy as the Capitalist bosses you despise, (if not more so).

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Anonymous, wrote

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08:44pm on 9 February 2012
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What utter rubbish. Capitalism hasn't put the world in the cr@p, socialism has. The constant whining and threats of national strikes has forced governments into subsidising the populace and forced businesses to up wages which increases the price of goods. Capatilism creates jobs, rewards the industrious and gets rid of the lazy and corrupt. Socialism and its unions have never created productive jobs and protects the lazy and corrupt at the expense of the industrious.

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ceebee, wrote

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08:42pm on 9 February 2012
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Socialism and Communism collapsed a world super power (Russia) you idiot. Russia and China then went to Capitalism as they realised their huge mistakes. Then a pea-brain like you wants to go in the opposite direction. Why join BRIC then????

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Looking East, wrote

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08:37pm on 9 February 2012
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The best example how perfect sozialism worked is the former Sovjet Union and the countries of the former Eastern Block. Almost everybody was equal - equally deep in the sh..

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Walter, wrote

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08:34pm on 9 February 2012
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@Geyser : Alternative to Capitalism with a proven track record please? Entrusting your lot with corrupt politicians in a socialistcommunist setup? O that really worked well all over the world, didn't it?

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Walter, wrote

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07:55pm on 9 February 2012
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Alternatives please, genius? Capitalism catapulted billions out of poverty into the middle classes, with all it's faults there is no alternative.

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Geyser, wrote

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07:54pm on 9 February 2012
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Around 400 corporations are robbing, enslaving and oppressing 7 billion people. All those who comment here in favour of capitalism are total ignoramus and bigots. I would say they suffer from Stockholm syndrome who love their prison guards. When these capitalism lovers lose their jobs in this financial crisis, created by capitalism in the next months and years, they will be singing a different tune.

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RGP, wrote

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07:53pm on 9 February 2012
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If you cant feed 'em, dont breed'em.Communism seeks to reduce everything to the lowest common denominator which it rings a bell in africa, where excellence is due to a tokoloshe on someone else, let everyone have nothing then all will be equal, except for the rulling politbureau. All men are created equla,but some are more equal than others, ie zuma and family juju etc.

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brownie, wrote

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07:47pm on 9 February 2012
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What a wanker! Winston Churchill it was who said: Capitalism is the unequal spread of wealth. Communism is the equal spread of poverty. Go figure.

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Cedric Harrop, wrote

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07:43pm on 9 February 2012
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The man is a total idiot. Capitalism may not be perfect but it is the only way to create jobs and wealth for the community. Communism has been shown to be ineffective and corrupt and those still adhering to it suffer a serious mental problem.

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Anonymous, wrote

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06:06pm on 9 February 2012
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Dear Sdumo Dlamini please stop with your hypocrisy, this country does not hypocrites like yourself, our public service levels continue to drop becuase of your comrades. On the 7th March our children will be left with no teachers, while you dance and sing in the streets, screw you a million times!

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louis, wrote

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06:00pm on 9 February 2012
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very interesting and facile rethoric. The various systems have been tried etc none has proved beneficial to ALL and why BECAUSE OF THE BUILT-IN GREED OF US HUMANS NOTHING WILL CHANGE UNLESS THAT CHANGES. BUT THAT IS IMPOSSIBLE IT IS IN OUR GENES. BUT IT IS ALSO OF WHY WE ARE PROGRESSING. NOTETHAT LIFE IS BETTER NOW THAN CENTURIES AGO. HUMAN MUST STOP CREATING SO MANY CHILDREN THE POORER THE MORE CHILDREN WE PRODUCE. ANIMALS DO THE OPPOSITE THE RESOURCES ARE AVAILABLE THE LESS THEY REPRODUCE.

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Anonymous, wrote

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05:57pm on 9 February 2012
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Capitalism is a scam, but so is black communism

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