December 31, 2011

Left, Right, Left, Right - Government Boots Keep Marching

[Note: Some of the beliefs espoused by this survivor of Nazism I disagree with fundamentally, while others meet with my wholehearted approval. On balance though, this veteran has a crucial message to share about how tyranny develops, often ignored by those who feel 'it could never happen here'!]

"Of all tyrannies a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience." -- C. S. Lewis

Two hundred years ago Johann von Goethe counseled that "none are so hopelessly enslaved, as those who falsely believe they are free". Living under today's democracies, much of humanity labors under the delusion that the ability to vote makes them free. But as the article below shows only too clearly, when massive levels of debt continue to be piled up no matter which of the two establishment parties are given the reins, then both this generation and the ones to follow are being sold into an indentured slavery from which there is no chance of escape. When the government continues to borrow beyond any hope of repayment - other than its ability to impose unlimited levels of taxation, then the day will eventually come when taxpayers will find themselves permanently indentured to the bill collectors.

Another article headlined below reviews the Fugitive Slave Act of 1850, comparing it to the National Defense Authorization Act of 2012 (Indefinite Detention Bill). Both Acts are tyrannical, but it would surprise most to know that the 2012 model is even more draconian than its 19th-century predecessor. The video chronicles the experiences of a former Hitler youth member who chillingly warns that both Congress and White House more closely embrace Nazi doctrines than that of their Founding Fathers.

You Are Washington's Collateral

Recently by Gary North: Permanent Keynesian Unemployment

Whenever any would-be borrower approaches a lender for a loan, he must be prepared to offer collateral, just in case he cannot repay the loan. If he defaults, the lender wants to be able to gain possession of the collateral, and obtain it quickly.
Every government that uses bond sales to maintain its level of expenditures must offer collateral. This collateral is its ability to extract sufficient revenue from those people under its jurisdiction so that it can make interest payments on the bonds.
In the South of 1850, a planter could buy slaves on credit. He pledged the future productivity of his slaves as collateral for the loan. He made sure that he extracted sufficient wealth from the slaves to pay off his loans. He lived well. They didn't.
Why did he borrow? In order to buy more slaves. He used leverage. He built his plantation with borrowed money and the heirs of kidnapped victims. It was good business.
The typical voter thinks of himself as a free man. After all, he has the right to vote. He does not think of himself as a slave. While trade union organizers – a truly hopeless career these days – still use the phrase "wage slave," it never made any sense, either legally or economically. A worker can legally walk away from his employer. A slave cannot.
Washington has borrowed more heavily than any planter ever dared to or could do. Why so much debt? To get more leverage today. What is being leveraged? Promises. Voters trade votes for government promises. This system requires an ever-increasing supply of slaves in order to pay the interest on the debt. Problem: the rate of population growth is slowing. There will not be enough slaves to pay off the debt.
Voters have not thought through the implications of government debt. They do not perceive themselves as collateral for loans. But they are. This is the meaning of the phrase, "the full faith and credit of the United States government."

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