30 minute listen at 1.5x speed.
How much more stable would our economy be if it weren’t for the vast amounts of malinvestment encouraged by artificially low interest rates?
Banksters have the control not because of their “superior” knowledge or skill, but because they are backed by the monopoly of force we call the United States Government.
Since December 2008, we’ve had 0% interest rates (which is the longest in US history). The vast amounts of malinvestment will unwind, and it won’t be pretty. Or it’ll be pushed off with additional rounds of QE, NIRP, and/or converted to national debt, delaying the inevitable.
Pile on the debt. Pile on the problems. Just another way to push the pain off to future generations. Maybe our grand children will be smart and choose to default on the debt on the basis that they weren’t the ones who accumulated it in the first place!
The US dollar has nothing backing it except the full weight and might of State coercion and violence. Look beyond the coercion and violence, and all you see are the printing presses on worthless paper.
What a strange illusion we all live in today that rests solely on the restraint of the State from printing itself out of existence.
At some point there has to be a reckoning in which fiat currencies collectively collapse, and hopefully we go back to the gold standard? Or even better, allow “money” to be commoditized on the free market to prevent abuse inherent in monopolized currencies.
Sometimes ignorance is bliss. . .
What is not considered are the lives, time, labor, and money lost due to purposely hampering technological innovation. The question is will beuracratic ineptitude win or Crony Capitalism?
What the? The “Freedom Fighters” using Government Coercion to prevent people from even the CHOICE to say “no” to Facebook Basic.
“I know how to live your life better than you do, so I’m going to use Government Violence to withhold choices from you.”
Another example of misguided paternalism at the threat of a gun.
It really is in the “national interest” for the US to maintain, through costly wars and killing of innocents, the USD hegemony in oil sales as established by the petrodollar thanks to Nixon/Kissinger when the last vestiges of the gold standard were dismantled.
What happens when the rest of the Middle East finally gets sick of the petrodollar? What happens when Saudi Arabia collapses in its US supported dictatorship? What is the true value of the USD when printing trillions ofdollars is standard policy (AKA Quantitative Easing) and national debt doubles during the reign of a single President (both Bush and Obama)?
Yes, the military-industrial complex has blame in this, but the greater blame is the insatiable ignorance of the US electorate and the “greed” of its “entitlement” class to push politicians to greater depths of debt. Politicians ultimately are followers, and the “true leaders” are the ignorant masses. To feed and placate the masses on government handouts requires the US to be in perpetual war.
If you allow the rest of the world to freely choose which currency is strongest, without the use of coercion or threat of violence via the US military, the politicians/beuracrats know better than the electorate that the USD will collapse.
The Welfare Economy = Military State = State-Sponsored Terrorism
It’s inevitable that the US will follow suit with Negative interest rates. The crazy thing is that those in power have a GOAL to make things more and more expensive for average Americans (AKA 2% annual inflation). Cell phones and other tech have been dropping in price like crazy (a good thing when you want a $5 cell phone!), but when it comes to food, rent, healthcare, and basic survival needs, decreasing prices in that is “bad.”
For the US, I predict more rounds of QE to artificially prop the economy, and if need be, NIRP. If the Fed allows the economy to tank, then the Republicans will take the Presidency.
About one hour and half to listen to at 2x speed. If you want a hard on for Capitalism, and a scathing critique of Socialism / Totalitarianism, listen on.
It’s like drinking from a water hose, but you’ll be disturbed by how an author writing in the height of Nazi Germany is still as relevant today.
A white male asked this question in Common Sense with Dan Carlin:
“In this world you want to create [in relation to Libertarian ideology], what would happen if you were born into a poor family. There is no free education, no subsidized healthcare, just what your family could afford. How much of your livelihood, your future, depends on the education and healthcare you receive before you can make decisions for yourself? In a post-modern, information age, how much will your labor be worth? Will you be able to support yourself in the future, could you support your own family? Would your children be destined to start at the same point you had?”
Here was my response:
AM I THE ONLY NON-WHITE PERSON IN THIS GROUP? This is NOT a hypothetical, but what goes on TODAY.
I’ll give you some homework. Go to the dry cleaner’s, nail salon, Teriyaki store, or Asian immigrant owned business and get to know the business owner. Talk to them about their life story, how much money they had when they immigrated to America, what life was like in their home country. Listen to how much they’ve suffered, and risked. Listen to how many hours they work. Listen to how much government “hand outs” they’ve received over the course of their life (oh wait, they weren’t raised here, so they didn’t get much).
And then after you hear all that, lecture them about how they’re “exploiting” their workers and that they are horrible people for not paying their employees a “living wage.” Then lecture them about how they should be paying maternity leave. And lecture them about how their GREED is destroying people’s lives.
Lecture these immigrant entrepreneurs on how they’re responsible for the income inequality for blacks and women. In fact, go to the inner-city, and find these Korean liquor store owners and tell them they need to pay reparations. Explain to them how impossible their poverty is, and they shouldn’t even try to better their circumstance because they didn’t get the proper “education” and proper government “entitlements.”
Because many of these laws and regulations are intended to “balance the scales” for past / current perceived “injustices” that go on between the BLACK/WHITE narrative. WHITE GUILT. Get over it.
Asian entrepreneurs are proving false the typical “I’m the victim. I’m too poor” narrative. Get over yourselves, and stop punishing Asian entrepreneurs for the sins of the White man. Get to know the Asian entrepreneurs in your neighborhoods and open your eyes toward upward, economic mobility that doesn’t require Government hand-outs.
Then, you will understand how more government regulations actually hurt opportunity, not for the hypothetical, but for the tangible, Asian immigrants living life next door to you right now.
On a vote along party lines, only two Democrats voted to Audit the Fed. Bernie Sanders was one of them. Despicable.
Democrats in bed with Wall Street bailouts. That’s right. The Democrats don’t want “meddling” from Congress by an organization CREATED by Congress.
“If we allow oversight of the Fed, it could become more difficult to funnel trillions to failed bankers.” – @RudyHavenstein
On the other hand, it is surprising that all Republicans, minus one, voted in favor of the bill. We’re getting closer to revealing all the shadiness that goes on in the Federal Reserve.