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Leading banker’s warning: Global society ruled by a decaying elite as values collapse

Leading banker’s warning: Global society ruled by a decaying elite as values collapse
Article intervention by Michalis Sallas, Chairman of Lyktos Group, Honorary Chairman of Piraeus Bank, former University Professor

The modern Western world is formally governed by institutions and laws, but in essence it is shaped by a closed elite of economic, political, and communicative power.
Corruption is the internal protection mechanism of an elite that wields unimaginable influence.
The case of Jeffrey Epstein is a mirror of this world, while the case of Donald Trump does not constitute a historical anomaly, but a product of arrogance and elitism by the Democratic Party, toward segments of American society and common sense, through the pursuit of imposing the “woke” agenda.
These points are raised in an article intervention under the title “Farewell to ‘Alexandria’” by Michalis Sallas, Chairman of Lyktos Group, Honorary Chairman of Piraeus Bank, former University Professor, making extensive reference to the elite composed of individuals, organizations, and networks acting explicitly, consciously, and with shared characteristics.
He emphasizes that the way the Western elite is evolving renders the future of the West deeply precarious, as it is built upon impunity, the disconnection of power from responsibility, and the systematic dismantling of truth.
“If there is no restoration of moderation, control of power, and genuine accountability, the Western model will turn into a shell of power without values, where democracy will survive as a word and decay as normality,” he warns.

The closed elite

As Mr. Sallas states, “The modern Western world is formally governed by institutions and laws, but in reality it is shaped by a closed elite of economic, political, and communicative power.
This is not an abstract category.
It concerns individuals, organizations, and networks that act explicitly, consciously, and with shared characteristics.
Unrestrained greed for wealth, suppression of corruption, oligarchic authoritarianism, plutocratic degeneration, disturbed narcissism, and a nihilism that permeates the system from top to bottom.”

The Epstein case, mirror of the elite

“The case of Jeffrey Epstein is a mirror of this world. A man without institutional office but with unlimited access to politicians, businessmen, oligarchs, royalty, diplomats, universities, and media outlets operated for years within a regime of knowledge and silence. Trafficking of women, pedophilia, greed for money and control, dominance and impunity.
The fact that dozens or even hundreds of powerful individuals participated or knew and remained silent shows that corruption is not a deviation, but an internal protection mechanism of the elite.
Particularly of the political and business elite that controls platforms, new technologies, national economies, and immense wealth.”

How the vast fortunes of the new elite in the United States were created

Responding to how the enormous fortunes of the new elite in the United States were created, Mr. Sallas explains:
“To a large extent, the critical technologies that transformed the modern world were born from decades of military research conducted by the American Pentagon and NASA, with the participation of leading scientists from around the world.
The internet, which emerged from a DARPA program, GPS, wireless communication technologies underpinning mobile telephony, Wi-Fi, satellite communications, digital security that moved into banking and the web, computers, electronics, and integrated circuits are examples of public, state research that was privatized in one way or another.
All these ultimately ended up in the hands of a few entrepreneurs, similar to what occurred in Russia during the 1990s with the rise of oligarchs.
However, the wealth and global influence of American oligarchs are unimaginable.
Aligned with American politicians, from Clinton to Trump, and supported by similar state dependent mechanisms across other Western countries, this network of technology oligarchs and the political elite essentially co shapes and directs today’s West.”

Interconnection and suppression of corruption

“The recognition of interconnection and corruption is accompanied by its immediate suppression.
When revelations concern powerful figures, they are reduced to technical details, legal gray zones, or forgotten within days.
Major banks have repeatedly been involved in scandals costing societies billions, without their systemic role ever being seriously questioned.
Fines are treated as operational costs rather than punishment.”

Oligarchic authoritarianism

“Oligarchic authoritarianism emerges when economic power transforms into political imposition without democratic oversight.
Investment structures and funds influence governments, energy policies, and social priorities without accountability and without representing anyone beyond capital itself.
Democracy remains formally alive, but is substantively restricted.”

Wars as investment opportunities

Plutocratic degeneration is clearly visible in the elite’s relationship with war.
“Wars are not presented as tragedies, but as investment opportunities.
Companies prosper through conflicts labeled necessary, defensive, or humanitarian.
Media outlets normalize rather than investigate economic linkages.”

The role of international media

“Here we enter the role of international media and their acquisition.
Powerful media owners and oligarchs have shaped an environment where news is not information but a tool.
Wars, crises, and fears are framed through narratives serving specific interests.
Consent is manufactured not through censorship, but through selection, tone, and silence.”

Ruthless managers of people and resources

“The disturbed narcissism of the Western elite is expressed through the belief that it stands above laws, societies, and moral limits.
The public image combines philanthropy with cynicism.
The projected image is that of a savior, while reality is that of a ruthless manager of people and resources.
All these form a nihilistic systemic core.
There is no final purpose, only the preservation of power.”

The Trump case

“The case of Donald Trump is not a historical anomaly, but a product of arrogance and elitism by the Democratic Party.
Trump overturned the agenda but transferred into politics the logic of business narcissism, personal hubris, and institutional devaluation.
Power was treated as property, politics as self projection, and the public sphere as a battlefield without rules.”

A shell of power without values

“The way the Western elite is evolving renders the future of the West deeply precarious.
A system built on impunity and the erosion of truth does not collapse abruptly, but decays internally until it loses moral legitimacy.
The West is threatened less by external adversaries than by the breakdown of its social contract.”

Farewell to ‘Alexandria’

“Let us remember that ‘Alexandria’ was not merely a place.
It was the coexistence of knowledge, power, and moderation.
Today, the West appears to be bidding farewell to that Alexandria.”

 

www.bankingnews.gr

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