The philosophy of socialism — in essence, the naked claim that one should have what another has produced — is as old as mankind. The societal implementation of this philosophy in the form of full-fledged state ownership and control of the major means of production and central planning of resource and output allocations, however, occupied only a brief historical span. Owing to its intrinsic inability to solve problems of calculation, knowledge, and motivation, socialism in practice consumed previously accumulated capital and impoverished billions of people caught up in the experiment, killing hundreds of millions in the process, and by now it has been abandoned almost everywhere it was tried. The underlying philosophy, however, has weakened not a whit. Now, in practically every country of any consequence, a system of economic fascism — a system with severely compromised private property rights, but some room for entrepreneurial maneuver — serves as a more viable replacement and as the context in which the age-old sin of envy drives politico-economic action as strongly as it ever did in the USSR and Maoist China.
This is from economist, author and Senior Fellow at the Independent Institute Robert Higgs (source Lew Rockwell Blog)
Free to choose, that is investment choice, no more. Debt servitude is the new normal of economic life and economic experience, as the Apostle John, sometimes called John The Revelator, presents in Revelation 6:1-2, that Jesus Christ, on October 23, 2013, opened the first seal of the Scroll of end time events, and released The Rider on the White Horse, who has a bow, without any arrows, symbolic of economic sovereignty, to effect a global coup d’etat, to transfer sovereignty, that is authority, from bankers and nation state democracies to nannycrats and regional bodies such as the ECB, to establish the sovereignty of the Beast System of Revelation 13:1-4, with its policies of diktat in regional governance, and schemes of debt servitude in totalitarian collectivism, as a replacement for the libertarian despised Creature from Jekyll Island, that is the democratic nation state and banker regime. Liberalism featured money manager capitalism. Authoritarianism features regional economic fascism.
ReplyDeleteRegional interventions will replace nation state interventions. With the ride of the First Horseman of the Apocalypse, Revelation 6:1-2, the world PIVOTED from the paradigm and age of liberalism, to that of authoritarianism, on October 23, 2013, as the bond vigilantes began calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48%, causing the death of fiat money. Fiat money died on October 23, 2013, as the bond vigilantes called the Benchmark Rate, $TNX, higher from 2.48%. Regional nannycrats will declare regional property rights superior to personal property rights.
On Monday, January 13, 2014, fiat wealth died as greed turned to fear; specifically fear that the economic policies and monetary policies of the world central banks have passed the rubicon of sound monetary policy and have made “money good” investments bad. Risk-on investing, ON, has turned to Risk-off investing, OFF. Investment fear has turned the two spigots of investment liquidity completely off; these being debt trade investing, and currency carry trade investing, thus depowering liberalism’s dynamos of economic activity: creditism, corporatism, and globalism; the new normal is OFF not ON.
Have you heard and heeded the call? It is a clarion call to invest in and take possession of gold bullion, as this and diktat are the only forms of sustainable wealth in the paradigm and age of authoritarianism