Why is NORWAY so RICH? – VisualPolitik EN

Why is NORWAY so RICH? – VisualPolitik EN


Is there someone controlling global capitalism behind the scenes? You’ve heard about the Reptilians, the Rothchild
family, even George Soros… but there is one player with much more power than any of
these guys… and nobody has ever told you about it: the Government of NORWAY. Yes, Norway is way more than just a very rich
country… its government has a real sway on international businesses… Think I’ve gone nuts? Well, at the end of this video, you’ll see
where I’m coming from. Norway is the only country on the planet where
Satanic Black Metal songs are on the Billboard charts. Yes, my dear viewer, if you ever travel to
this country and turn up the radio, you might not find yourself listening to Taylor Swift
but, instead, bands like GORGOROTH, MAYHEN or… LILLI MEISTER and her hit titled… MY ASS. Ahm… yes, I know, there is something pretty
weird going on in this country. But the truth is, Norway is one the wealthiest
countries on the planet, playing on the same league as Ireland and Switzerland. But not only that! They are also one of the most equalitarian. This means that the differences between rich
and poor are pretty subtle. Their welfare state is big, their taxes are
high and their lifestyle is good. But you already know this. What you probably don’t know is that Norway’s
influence on the international economy is way bigger than it looks… Yes, Norway is on the backstage of the biggest
corporations on the planet… OK! OK! Don’t leave this video! I know what you’re thinking, and the answer
is NO! This video is not a crossover with Alex Jones! You see, Norway has a population of less than
5 million inhabitants. New York City is more populated than this. Nonetheless, these 5 million people have big
shares in the world’s major corporations. Yep! You heard that right! The Government of Norway has its own hedge
fund, and they are among the main shareholders in lots of companies like Apple, Facebook
and Tesla. So yes, Norway might not have a big military
but they have an army of money ready to influence the world’s economy. So the question now is… Why is Norway so Rich and powerful and…
how did they get here? At this point, you’re all thinking the same
word: OIL. And you are kind of right. Norway is one of the World’s largest oil
producers. But, they have nothing to do with the other
oil rich countries. Just look at this picture. Here you can see the skyline of RIYADH, Saudi
Arabia’s capital. It looks like a sci fy city, right? Skyscrapers, modern buildings and lots of
lights. Now let’s look at this picture of Oslo,
Norway’s capital. You can already see the difference, right? If you’ve been following VisualPolitik for
a long time, you already know that having oil is not the same as being rich. In fact, as you can see on this chart, Norwegian
crude oil is twice as expensive to extract as Saudi oil. For a better understanding, most of the Norwegian
oil comes from the Nord Sea. And these oil beds are shared with other countries
like the United Kingdom. However, Norway has taken the most advantage
of that oil wealth. Oh! OK! Now you might be thinking, ‘Ah, another
VisualPolitik video where Simon tells us how Norway became so rich by privatizing companies! Right? Right?’ So… this time, the story is different. Norway is a great example of what we call
STATE CAPITALISM. So what is state capitalism? Why is Norway so rich and powerful? What does it mean for a government to invest
in the stock market? Today we are going to answer to all of these
questions but, before we do, let’s take a look back at history. THE DUTCH DISEASE We have to be honest here: Norway has never
been a poor country… but it wasn’t always a very wealthy one either. In the 50s, Norwegians enjoyed a lifestyle
similar to that of the French. This means, wealthier than the Spaniards but
poorer than their Swedish neighbours and, of course, the Americans. Back then, nobody expected Norway to have
oil. But things changed in the year 1959. In that moment, SHELL started prospections
in the Nord Sea. SHELL is an oil company in the Netherlands
and they were looking for potential oil beds in the shores of their country. One day… boom! They found some little gas sources. And whenever there’s gas, there is oil. So they kept up their exploration. And this is how one of the biggest oil fields
was discovered. An oil field situated under British and Norwegian
waters. During the 60s, Shell got drilling licenses
in those two countries. Years later, in 1972, the Norwegian Government
founded its own oil company: STATOIL. This is how the Nord Sea oil boom started. During the 70s, money flew into the country. In just 3 years, Norwegians doubled their
GDP per capita. All of a sudden, the Norwegian dream meant
working in the Dinosaur Juice industry. Who wants to fish for salmon when you can
make big bucks working with oil? It really sounds fantastic… right? Well… actually, NO. In fact, this phenomenon has a name. They call it the DUTCH DISEASE or the CURSE
of natural resources. Basically, anytime a country finds oil, its
economy goes nuts. The government can waste money while lowering
taxes. Citizens want to work in the oil industry
because it’s the most profitable and… What happens next? In just a few years, your economy makes just
one thing: Dinosaur juice. And when you depend so much on just one product,
a small change in the market price puts the whole country on the verge of bankruptcy. This is exactly what happened in Venezuela,
and what could happen in other countries like Saudi Arabia or Bahrain. And this was the big difference between Norway
and United Kingdom. Both countries had labour governments but
their policies couldn’t be more different from one another. In the year 1976, the UK was in the middle
of one of their worst financial crises. So the Government couldn’t wait to squeeze
that oil wealth for all it was worth. Norway, however, had a more stable situation
and they could wait. What does this mean? Well… first, the government put very strict
industry regulations in place. Plus, 50% of those oil rigs had to be in the
hands of the state owned company STATOIL. On the other hand, foreign companies had to
pay a 78% tax on the oil profits. And that’s not all! Norway put a limit on oil production. Just look at this chart. Here you can see how the UK kickstarted their
production from the very first time. At the end of the 70s, the British were already
producing more than a million and a half barrels a day while Norway was still at a third of
that. During the 80s, during the Margaret Thatcher
administration, the UK keeps pumping oil like there’s no tomorrow while Norway is still
pretty relaxed with production. What did they achieve by doing this? Norway was keeping all the productive economy
focused on oil. But wait a minute because there Is another
big difference! You see, during the 80s, Thatcher privatized
British Petroleum. Norway’s government, by contrast, has kept
control of STATOIL. Even today, despite the company changing its
name from STATOIL to EQUINOR, the State still owns 67% of the firm. And I know what you’re thinking of now… Oh my god! Norway is a socialist country! Hold on just a second. In fact, the Norwegian economic system is
pretty similar to that of China. This is what the experts call STATE CAPITALISM. This means, the State controls a good share
of the economy but… it behaves like a big private company. So what does this mean? Well… check this out. THE HEDGE FUND COUNTRY Before continuing, I should make an aside…
because this beautiful, romantic and sweet melody you’re hearing right now is the music
of… ENDEATHED! A Black Metal band that… OK, they aren’t from Norway, they’re from
Colombia but… it sounds just like a Norwegian band and they sent us their music for this
video! If you want to hear more of them, we have
a link to their channel in the description. Now, returning to our story… Remember those two Pictures I showed you at
the beginning of the video? Other countries like Saudi Arabia used their
impressive oil wealth to live like a hip hop artist on a Friday night. However, the different Norwegian administrations,
both labour and conservative, have measured every last penny they spent. What does this all mean? Their oil wealth went into a piggy bank. And this is how we go to the year 1990. In this year, Norwegian Parliament realizes
three things: 1. They have a lot of savings. 2. Oil market prices go up and down and they
cannot control that. 3. The best thing they can do is diversify their
economy. And how could they do that? Well… how about… investing in the stock
market? So, as we say here at VisualPolitik, as it
was said, it was done. This is how the Government Pension Fund of
Norway, also known as the Oil Fund, was created. This is a hedge fund controlled by the Norwegian
Central Bank. And yes, I know what many of you are thinking
now… What’s so impressive about that? There are many other countries with a Sovereign
wealth fund: China, Australia, the United Arab Emirates… of Course! But look, this one is the biggest of all of
them. We’re talking about more than 1 trillion
American Dollars. This means that if we divide this fund by
the entire Norwegian population, each citizen has more than 200 000 USD invested in stocks. But this is not the end of the story! According to the law, nobody can touch that
money for public spending. This means the Government can only use the
benefits of the fund, but not the capital. And believe me… we aren’t talking about
a tip here… How Norway’s sovereign wealth fund made
$130 billion in one year Also, according to the law, they cannot invest
in their local economy. Just foreign companies. This is why, Today Norway holds 1.5% of all
the stocks existing in the world. Of course, some years are better than others. And, according to many analysts, the management
of the fund is overly conservative and doesn’t make as much money as it could. But the truth is Norway doesn’t just use
this for diversification… the Oil Fund is also a political weapon. Norway’s $905bn oil fund flexes its shareholder
muscles World’s largest sovereign wealth fund opposed
6,700 company resolutions last year For example, every year, the Norwegian Central
Bank publishes a Black list with companies that they don’t invest in for ethical reasons. That includes weapon manufacturers, tobacco
producers and firms involved in corruption scandals. But this is just the beginning! You see, having stocks of a publicly traded
company gives you the right to participate in the shareholders meetings. You can vote on corporate decisions and even
suggest topics for discussion. The more stocks you have, the more important
you are in those meetings. Here’s an example. This summer 2018, Facebook started a new algorithm
to filter fake news. They are also starting to take the wage gap
seriously. These two decisions are the outcome of a shareholder
meeting. And guess who added these topics on the meeting
schedule? Of course, that would be Norway! And the same happens with other companies. Norway’s fund backs activists’ bid at Alphabet
meeting As you know, Alphabet is the conglomerate
that Google and YouTube are part of. A small group of shareholders wanted Google
to refine the fake news filter. And having the support of Norway’s fund
helped them win very crucial votes. The same happened with Apple. In this case, Norway is the 8th biggest shareholder,
with more than 9 billion USD invested. And they aren’t exactly silent in the shareholder
meetings. In general, Norway is pushing the biggest
world companies to change their corporate policies on many different fronts. Of course, there’s the gender gap but…
that’s not the only one! Part of the ‘Norwegian ideology’ focuses
on this too. Norway’s sovereign fund to focus on high executive
pay Exactly! In many ways, the big multinational executives
make big salaries despite the company losing Money. We’ve seen this several times during the
financial crisis. As you can imagine, shareholders of these
companies are not happy with this. But it’s hard to speak out when you only
hold a little share of the company. This is where Norway comes in as the loudspeaker
for small investors. Many countries try to control the World with
their militaries. Other countries try to sway foreign governments
with diplomacy. Norway tries to expand their influence on
the biggest global companies… this is the Norwegian conspiracy! Meanwhile, Norwegian citizens can sleep at
night knowing that, even if oil prices go down, they have their future quaranteed. And now it’s your turn… Do you think it’s a good idea for a whole
country to invest in the stock market? Do you think this Norwegian influence on global
capitalism is good or bad? Please, leave your answer in the comment section
below. Also visit RECONSIDER MEDIA.COM, the podcast
that provided the voices in this episode that were not mine. And don’t forget that we publish brand new
videos every week so subscribe to this channel and hit the bell button so you won’t miss
any posts. If you liked this video, give us a thumbs
up and, as always, I’ll see you next time.

100 comments

  1. Video should ve been 10 mins shorter, and presenter tries too hard to be telegenic just drop facts take lessons from Vox, 6 million subscribers

  2. Fiscally Conservative, Socially Liberal… The Canadian Federal Conservative party did this for 11 years and got us to a surplus, Liberals got elected right after and threw us into deficit. These SJW morons need to vote for a party in the middle. But they won't get their special treatment and hand outs, everyone in the west votes selfishly for handouts before paying their bills.

  3. How come Iceland had a higher standard of living than Norway in 2007? Because Norway would have a much higher standard of living without oil. Iceland does not have oil, they have fish. And most of the money that went into the worlds greatest oil technology came from fishing. That we have both that and oil is great, but we are hard-working people and yes we have the highest standard of living in world history. Food is pure and fresh compared to the EU countries. This guy talking here has done his homework, but as I have written here. We know our own reality here 🙂 Peace !!

  4. So, if you are a family of 3 your share in the fund is 600,000 USD? They should have a referendum to decide whether some civil servants should tend to your wealth or if you should get a lump sum payout. After all, your are Norwegian and that oil belongs to you. Let the people decide! I bet that never happens. So many privileged jobs lost. (faceslap)

  5. Norwegians scare me. They are more communist than the former Eastern block.
    Although this part we should learn.
    CZ is adult and it should be able ttake care of itself. :op

  6. As a contrast in the comment section exploding with all this enthusiasm for a country's achievements… I am from Romania 🙁 . Anyway. Well done Norway

  7. india and china started escooters and solar panel electricity.Now it will effect in 2020 , becausenof india will ban diesel cars and petrol cars from 2022 or 2021.
    Now oil demand was cutting down and asian countries will stop consuming oils and petrol , gasoline or gas.While india is producing cheap solar panels nowdays , so norway can enjoy its wealth till 2050 and then crisis will started again.But if norway invest money in solar technologies and can beat up with china , then norway can increase its money.Its all about solar technology.
    And already iran, soudi arab and iraq was started in investing in solar technology but they failed due to chinese cheap solar technology.
    Good luck norway for furure.And invest your money in good place.

  8. Just wait till these Scandinavian countries run out of oil .. then we’ll see how poor they are…. the only think they export is fish and oil.. they don’t export nothing else.

  9. Pushing "woke" ideology down the throats of foreign peoples, by financial or other pressure, will turn out to create a lot of resentment and loss of soft power. Because it is a form of cultural oppression and outright political intervention.

  10. How long happy people of Norway live on average? Some of them did work for same company as I did also in one of northern countries. Hope Norway and also mine pretty politicians did not invest all of their money eggs in just one basket.

  11. State Capitalism = KEYNESIAN ECONOMICS. Really, this is not a laissez-faire State. But at least they are using their main resource for their own citizen's benefit, unlike Venezuela.

  12. As a New Zealander, I have a lot of respect for the Norwegians. They are a small country but have a high standard of living. Their government looks after their people and prioritises well-being. Their government also seems sensible.

    In fact, you can buy some Norwegian products here. There is a heater brand called "Nobo" and they have a lifetime guarantee. Top quality!

  13. Australia could learn from Norway and Qatar and be the worlds richest country. However we don't have politicians that work for the people. We have sick men that are all about themselves.

  14. EFFIN WOW!!! I am so relieved that an entire nation of sane people are fostering & supporting sane civilization, I can hardly believe it–but I do. Thank you effin righteous Nordics!

  15. You get a dislike for blaming Venezuela on "Dutch disease", and thus whitewashing the commies, who are essentially guilty of mass murder.

    Guess what happens when you mandate low maximum prices and nationalize industries and so on? Everything goes to hell – doesn't take a genius to understand that..

  16. Why Norway is rich?
    Cuz they saving money for the future not spending in useless fancy buildings, cuz they are hardworking people and good taxpayers and much more….
    Love being in Norway i guess i will live here forever , much love to all my Norsk vennen

  17. Its an interesting video, but its kind of irritating at times, well most of the times when you stray off the main subject matter.

  18. Capitalism and communism do not mean anything for how Norway works. Norway is a high tecno end version of a Amazonas tribe. It was doing well before oil. That is because like a tribe in the jungle they do not leave anyone living under a bridge suffering. Stretching it a little. Any country are roughly the product of the sum of its populations mentality. In Norway there is a trust between state and people more than other countries. The tax funded educational system embraces everybody so not a single person has a reason the feel not loyal to it. Same with health care. In princip at least, nothing is ever perfect so it has to be worked on at all times.
    As mentioned here it is unthinkable for any Norwegian gouv. giving away the nations resourced to greedy oil companies. No one should do that.
    Capitalism is for African developing countries and communism for naive fools. Norwegians do not define taking a normal level of responsibility, as politics

  19. Coz Denmark gave em its RICH oil fields for fishing areas in the north sea back in the 60-70 ties ? Coz Denmark had a alcoholic foriegn minister back then…. am i right or am i RIGHT ?

  20. One of the things to control "hate speech" . According to google / youtube, it is hate speech to say someone acts wrong according to the Bible.

  21. Norway. How to make the most out of your oil money on behalf of your citizens
    Britain. How to fuck up your countries economy and screw your citizens and get disgustingly rich in the process. (biggest con, to get idiots to vote for you at the same time by manipulating the media)

  22. Black metal is still sub-culture. Its not like you would here it over the breakfast table….
    Everything else: Correct.
    And yeah… this little thing: When are your own governments going to work for YOU?
    Co`s that`s what we do here… We care about each other.
    We did it when we were poor, we do it when we are affluent.
    Check mate.

  23. I knew it "Satanism" But Lizards don't like the cold ?
    I'm British and even my socks have the flag on them and I love the Norwegians
    (But Cognitive dissonances seems to be the new religion these days)

    No wonder Anders Breivik the ardent Zionist killed nearly 100 people in a combined terror attack in Norway, "They" (Lizards) really really really don't like the competition I gess.(Murder of 100 people is no joke by the way just a disclaimer for all the rocket scientists out there who love to hate "words" (words bad, words evil)

    Make Hay not war I say; go for it Norway

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  25. 1.5% of all the stocks in the entire world… but Leftists and SJW's continuously tell us that Norway is a socialist country.   Apparently it's okay to generate vast amounts of wealth by riding piggy-back on the rest of the Capitalist world… but as long as it's the Government doing that, then apparently that's okay.  Bernie Sanders is one of those who tell America to do what Norway does.   But… who should America invest in… ?   Norway?

  26. Really high taxes….it's still socialism….no individual in Norway can get wealthy can they?  There are only what, 3 million people in Norway? What happens when they tax everyone's money away?

  27. It seems like a utopian country where lot of millionaires are complaining because there are a few billionaires around…Please see the conditions of not so priveledged countries around the world and then compare…

  28. I have been to Norway 4 times, and I must say, the best country I have ever been to by many miles. Money is important, but more important is good people, who are fair, social, and do not treat out side visitors like dirt. That is what I saw in Norway and its one spectacular beautiful country, very very clean too! 10/10 for Norway if you can handle the very cold weather in the Winter. Norway always puts a smile on my face, RESPECT form the UK.

  29. Forcing a end to a gender gap? that is oppresion to interfere with men and dictate that people deserve only what thier sexual identity deserves. Typical european. men are better then women and fair and square prevail. anyways there must be no interference with mens rights or peoples rights. Saying gender gap is either implied accusation against men/sexual identirt as stopping women OR it doesn't matter. Men only deserve a certain percentage. A rejection of the rIGHTS OF MEN that nobody tells you in your country what you deserve if you are men. who/what power defends men from norways using money. its just rich people again oppressing the comman man.

  30. Bernie Sanders tells people in US about Norway and Scandinavia for 40-50 years ago. He dont understand how it works today at all. Thats a big and serious problem actually. Mr. Sanders its in a illusion world – and a lot of his talking have nothing to do with reality. Sorry – Sanders is outdating and to old to understand .

  31. Fish its a big deal in Norway – they have the biggest export in the world – near $ 15 Billion a year . The oil-fund its much bigger now – like more than 1.1 Trillion dollars. https://www.nbim.no/en/

  32. Norway just forgot who, in the first place, created the oil, for them to become rich! Norway is mostly a pagan country, friendly people (I have been there several times), but the least they talk about is The Creator!

  33. The guy on the thumbnail is of the vocalist of Marduk. Marduk is a Swedish black metal band not from Norway. Not all black metal bands come from Norway.

  34. Can you imagine if we invested in the cannabis industry? If we legalized it we wouldnt even have to use oil. Although, our leaders are hardcore boomers so theyd never do that this day.

  35. They also tax the poor more than the rich, notice the lack of middle class. It’s the opposite of the Robin Hood act. Plus is a tiny country surrounded by others so it’s more like a city than a country as all of Europe is. Those who can’t afford it leave and all that’s left is the wealthy

  36. (G. Soros is protrayed as a villian–( designed to fit the narrative )).
    Norwegians :: just people, nice , met lots whom work hard, and relax easily as they earn it (6mths work 6mths play–ish) great work paradigm

  37. It is the most obvious thing in the world that the natural resources belong to the people there.
    Saudi oil should first benefit the saudi people, not some families or selected companies like Exxon or shell .
    Canadian timber lodging shall not send their gains to some cigar smoking Californian.
    Japanese shall let the benefit of cars/ industries shared out to the people as much as possible. The Norwegian made it just fine before oil and now the papers say that some 1 of each 12 dollars in commoners pockets come from oil related activity. Isnt this the biggest most obvious thing in the world ? Same as you can go anywhere in Norway hiking because " Norway is the land of the Norwegians". No private rich goon shall be allowed to put up a fence and stop that. Only if the goons lot is for private habitation, a house and a garden, he can put up a fence to stop Norwegians to enjoy the outdoor and hiking.This is not socialism or any fancy non-Norwegian words, it is just common sense,
    But is has to be Norwegian style, the peoples will in a a democratic way.
    If the majority of the people want one thing and your government does something else, you do not live in a democracy. Simple.

  38. Very informative video. Already impressed with Norwegian govt and it's care for its people. And people too shows loyalty despite for some tax rates being very high. The economic, legal, and social justice and prudent and progressive policies is the name of good governance.

  39. Very interesting point about Norway and China both practising state capitalism. If only China has the ethical mindset and democratic freedom, it could have a good impact on the world, but unfortunately China went power-crazy. Norway should be required reading for every country blessed with resources not to squander their windfall.

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