In the minds of many, one of Winston Churchill’s most famous aphorisms cuts the conversation short: “Democracy is the worst form of government, except all those other forms that have been tried from time to time.” But this saying overlooks the fact that governments vary in scope as well as form. In democracies the main alternative to majority rule is not dictatorship, but markets
This is from prolific blogger, author and professor Bryan Caplan’s must read The Myth of the Rational Voter
Liberalism was the age of investment choice based upon schemes of credit liqudity and carry trade investing; both of its spigots of investment liquidity traded lower on Monday, October 28, 2013, and competitive currency devaluation commenced with currency traders calling currencies lower, and the US Dollar, $USD, UUP, higher.
ReplyDeleteFinancial marketplace trading on Monday, October 28, 2013, continued a trend lower from October 23, 2013, and communicates that the financial markets has turned from bull to bear.
With the ECB announcing a plan to supervise 130 European Banks, and the UK Central Bank providing the new monetary policy tool of the Revised Sterling Monetary Framework, and the US Federal Reserve providing two new monetary policy tools, that is Fixed Rate Full Allotment Reverse Repo Facility, and the Liquidity Coverage Ratio, the monetary policies of the world central banks have changed from expanding the money supply, to integrating banks into government, introducing the antifragile financial system.
Financial market place trading, world central banks’ monetary policies an monetary tools, and enduring enforcement of austerity measures by the Troika in exchange for seigniorage aid, have pivoted the world from the economic and political paradigm of liberalism into authoritarianism. The world central bankers have effected a global economic and political coup d’etat, pivoting the world from democracy into statism, as on October 23, 2013, Jesus Christ, fully opened the First of Seven Seals of The Scroll, Revelation 6:1, containing the details of the culmination of history, Revelation 1:1, which releases the First of the Four Horsemen of the Apocalypse, the Rider on the White Horse, who has a bow but no arrows, signifying his role in effecting a global coup d’etat, transferring sovereignty from nation states to nannycrats and regional bodies, as they come to rule in regional governance, in each of the world’s ten regional areas.
Authoritarianism is the age of diktat based upon schemes of debt servitude and totalitarian collectivism. Investors can no longer profit from investing long the financial markets; wealth can only be preserved by investing in and taking possession of gold and silver bullion.
The world passed through peak democracy on October 23, 2013, as World Stocks, VT, Nation Investment, EFA, and Global Financials, IXG, turned lower from their PBOC Monetary Stimulus, and US Fed No Taper, and ECB Bank Supervision Rally highs.
Under liberalism, central bankers provided democracies, that is nation states, with fiscal, and investment seigniorage, that is moneyness, based upon investment opportunities in each country, and those investment opportunities were enhanced by strict austerity coming from the Troika, two cases in point being Ireland and Greece.