Here is a hypothetical scenario. It is based on insiders and outsiders. If you can call the President of the United States on the phone and talk to him you are an insider, otherwise you are an outsider. As Dan Aykroyd so elegantly showed in the movie Trading Places, outsiders, standing in the cold rain, get to press their nose against the glass and see what the insiders are enjoying.
Twenty years ago I read a book called ‘Blowback’ and the basic theme was that the illegal drug trade was so profitable that it kept the US gov’t, banks and stock exchange from cratering because of a century of mis-management via wars, taxes and paper money; that all our wars were just excuses to let the government do whatever it wanted and keep the whole charade going longer. The War on Drugs was really a war on individual freedom and their constitutional protections – drug criminal has no rights: to be accused is to be guilty.
Blowback, Second Editi...
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The best remaining scam other than printing money and illegal drug trade is healthcare, where else can you sell emergency room stitches for $1000 apiece? If you get admitted to a hospital it is $6,000 per night hotel with bad food, no bar and for that pleasure you will get woken up every four hours to check vitals: blood pressure and temperature. Should they do anything to you that number goes higher quickly.
Eight trillion dollars were printed and $300 billion given to individuals. Where did the other seven trillion seven hundred billion and change go? Guaranteed we will never know. So now Blowback makes more sense – freedom for financial innovation i.e. scams is getting more limited.
The US is now well over the point where national debt being is greater than one year pre-covid GDP and realistically after printing 20+ trillion dollars, a dollar for dollar accounting effort is not only unlikely, it is probably also hopeless; pretty much any fiscal responsibility is long gone. Trump/Biden are now in a race to see who wants to give away the most $$ for election.
When the US economy gets a cold (recession) all the other economies go on life support (depression) so by that logic crippling the US economy will kill others around the world.
The drums are beating now against Russia/China. Everyday you hear something new about them. Our government always needs an enemy even if they have to make one up like Vietnam or War on Terror/Drugs/Racism/Sexism whatever.
Value is subjective, it is based upon perception and everyone’s perception is different from everyone else’s. As Ludwig von Mises demonstrated in his epic ‘Human Action’ value is based upon acting man’s dissatisfaction with something and then trying to ease that mental tension by acting, doing something, creating value. Imagine the satisfaction of sitting in the cold rain until one of your buddies shows you a nice dry cave. Another genius rubs sticks together with leaves, dry wood and a warm fire appears. This mental tension of dissatisfaction has driven our primitive tribe based hunter/gatherers to our modern economies. Nonetheless value still remains subjective.
The Sorrows of Empire:...
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If we wanted to decimate the hopelessly corrupt Chinese government all we need do is default on our bonds then block all Chinese imports. We are already block their semiconductor business (Huawei) and are trying to get other countries to go along.
The wealthy elite have literally all their wealth predicated upon ownership of stocks/bonds and trust accounts (I trust you to give me back my money). History has shown stocks/bonds and paper money always become worthless eventually. This means that the world’s wealthiest man for example, Jeff Bezos, can become a pauper like the rest of us when the paper goes to 0 value. The whole purpose of the Federal Reserve System is to protect the wealthy and things they own like banks.
What von Mises proved using deductive logic is that specie based money (gold/silver) is the only system that does not fail. With such a system the economy undergoes slow gentle deflation. When this happens the value of savings, that is capital, grows slowly over time. Prices continue to fall which makes a workers income have greater and greater purchasing power. Modern bankers are the one class of people that have no purpose in this system, their thieving system of inflation is gone. Sadly every significant economy in the world is fiat/paper currency based.
We cannot let the common man profit at the bankers expense. ALL banks are inherently unstable, they start that way, they live that way and they die that way. There is not a bank in existence that can tolerate a run on their debts. Cash bank deposits are debts, not assets. The assets a bank has are outstanding loans. As happened many times in history. Bank runs are just deposits the account holders have and they now want their money back. Cannot allow the common man control his future!
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Franklin Delano Rosevelt, worshipped by most politician’s, repudiated the contract with Americans exchanging gold for dollars which had been the law. He seized all gold bullion in the country. He followed this up by making ownership of gold except pre 1933 US coins a crime. He did not announce this in his campaign. The day he took office he ended prohibition. The gold seizure got lost in the frenzy.
The power FDR had has been worshipped by the vast majority of national level politicians. The Federal Register documents in excruciating detail leviathan’s strangling control and the end of freedom. A free country has no need of classified laws (Patriot Act) however an unfree country requires a vast spy network and a secret police. Facebook, Google, Twitter, Internet (your cell phone is just a computer on Class A non-routable but private network) and location information (where your cell phone has pinged) is stored along with every email and text ever sent.
The US now has all the tools in place for the President to do whatever he/she wants. Crush China then repudiate bonds. This will also bring the rest of the world to its knees. Politicians actually despise the wealthy out of simple resentment but historically they have been tolerated in order to facilitate politician’s dreams. These ‘useful idiots’ as Stalin said are essential to the plan to take control.
On the bright side the United States Government has proven that along with its allies (more useful idiots) it can be completely self-sufficient in food, energy and manufacturing as we demonstrated so ably in World War II. Estimates on the casualties of World War II were between 50 and 100 million deaths; US deaths under 300,000. Very very cost effective. To the government an individual is just another tool in the toolbelt.
World War III is not going to be fought with nuclear weapons or large standing armies. It will be fought with paper. American citizens will be allowed to have blue dollars. Green dollars will be just to light your cigars with should you have any then.
Historically every empire ultimately dies at the bank. Battlefields just accelerate the process.
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President Donald Trump was elected against the mainstream media’s collective desires and they have been in a froth over this. They thought it was their sacred duty to say who wins and loses. They got drunk with power when they got the Arkansas Rube Clinton elected.
While Trump is human thus like the rest of us and has many flaws he has steadfastly refused to start anymore wars no matter how loud our media sycophants have brayed about them. This is where covid comes in, kill the economy, and the people will be so desperate for help which is to say socialism! As von Mises has shown it is always a product of the wealthy. As he said “Socialism is for those who would think and must be prevented.” The covid pandemic has gone a long way to scare the world and make them desperate for the help that only strong central governments can provide. Sadly a socialist country always runs out of other people’s money. Socialism drains the future for the present. Capital that could be used in productive future enterprises gets drained by the political present. The problem with this, as von Mises has shown, economies thus become fragile and some unplanned exigence renders them helpless since there is no capital available to construct a solution.
So in the event the President will not take your call then you are an outsider. You will not make things happen, things will happen to you. Outsiders just ride the big wave, hoping not to drown but incapable of determining where it goes or what it hits. All empires fall. The only question is when. Don’t let it fall on you and yours.
“The difference between genius and stupidity is that genius has its limits.” ~Albert Einstein
