Live 8, the so-called "greatest concert" ever aired live, has been presented to world public opinion as an "awareness campaign" in solidarity with Africa. Its stated objective was to put pressure on the Group of Eight leaders (G8) to increase foreign aid flows and cancel the debt of the World's poorest countries.

In the words of its promoter "Sir" Bob Geldof, Live 8 has provided a "unique opportunity" to save a continent from a humanitarian disaster.

The Live 8 concerts organized in the eight major industrial countries (as well as in South Africa), however, were not intended to raise money for the World's poorest countries.

In fact quite the opposite.

Live 8 is a multimillion dollar undertaking, which will result in huge profits for its corporate sponsors including AOL Time Warner, the US based media giant, the Ford Motor company, through its Swedish affiliate Volvo and Nokia, the cell phone company, not to mention Britain's EMI Music Group, which has entered into a highly lucrative arrangement with the Live 8 organizers.