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| Joined: | Mon Nov 21st, 2005 |
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This is why Keynesians refer to government spending as "investing."
I think Gary North is one of the most accurate Gold Bugs around. He is one of the capitalist bunch who employ the capitalist pricing scheme which is fine so long as no one employs fraud (lies) and force (violence) to eliminate any competitor who may employ something other than the capitalist pricing scheme. Some words written by Gary North indicate that he does favor an honest free market.
Why does he confuse ‘saving’ with ‘investing’?
The textbooks describe the anti-recession policy of the government as injecting new purchasing power into the economy, but without ever mentioning the process of either pulling purchasing power away from taxpayers and buyers of government debt or the counterfeiting operation of the central bank.
There is the answer. He who invests in the "government" wants to profit from what the government does; therefore 'smoke and mirrors' is employed by calling 'investing' (in profits from the government) 'saving' (something that is a false front for profiting by employing the government as the means by which profit is extracted from the victims of that false front pyramid scheme).
How could a self-respecting Austrian Economist sleep at night if he or she knew that he or she profited by torture and mass murder (what the government does)? Obviously he or she either does not have a conscience in the first place or he or she needs to create a smoke screen by claiming that investing in what the government does is ‘saving’ (which everyone knows is a thrifty thing to do).
I went to a Las Vegas Financial Markets Convention put up by The Mises Institute and the Austrian Economists. That was in 1996. I paid my fee to attend. The people who put on the show solicited questions for the panel. I asked many questions concerning the power of the internet as an anarchistic free market, the power of China to become an economic contender, and other things. Not one of my questions was answered directly. I was shunned to say the least.
Someone there did answer my question indirectly. That honest person said:
“If you can’t beat them…join them.”
Lie and cheat.
Go ahead and torture and mass murder too; profit at the expense of the victims.
That is the FREE MARKET.
It is free from conscience.
It is free from truth.
The FDIC's job is to conceal what is happening. It refuses to reveal the names of suspect banks. The other banks go along with this, because they do not want to be hit by waves of doubt. Customers may buy T-bills rather than bank CD's. Bankers are never sure which bank will be hit by runs and which will benefit. For the sake of continuity, they support the FDIC. They don't want to rock the boat.
There it is again. "They" (those innocent guys) "save" by transferring their purchasing power (how did "they" earn it in the first place?) from the Banks who have a license to monopolize and therefore extract power by usury (enforced monopoly on the supply of money) to the power that administers the license to monopolize currency.
Choice A:
“Save” money by employing a bank for a piece of the action (a lesser rate or interest) whereby the bank charges people to use legal currency.
Choice B:
“Save” money by employing the government to collect an interest profit directly from the people.
Those two choices are called “saving”.
Get it? Nudge, nudge, wink, wink.
How did this happen? Why didn't the FDIC sound an alarm? Because the FDIC was itself deceived.
And Gary North is himself deceived. The capitalist pricing scheme is the cause of this so called “problem” which isn’t a problem to those who “join em”. The idea, of capitalism, is to gain at the expense of a victim. The idea, of capitalism, is to pass on costs. The idea, of capitalism, is to remove the limits of price by any means.
The Austrian hero explains:
“every individual will attempt to secure his own requirements as completely as possible to the exclusion of others.” Carl Menger (1840 -1921)
Last edited on Sat Aug 30th, 2008 12:22 pm by Joe Kelley