Sound Money Is Our Best Hope Against the Monopolists’ Threat

Inflation (of money–actually debt) leads to tyranny

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Inflationary monetary policy is driving markets toward ever larger and more monopolistic firms that dominate the marketplace.

There is nothing new in monopoly capital gaining power and threatening free market capitalism. Governmentfavored and protected bankers, firms, and financiers have been around for centuries. But this time, monetary inflation and the nature of contemporary technological change have combined to raise the threat posed by these monopolists to an existential level. The ultimate barrier against this is the institution of sound money, at present virtually extinct in the world of politics.

The present danger from monopoly capital is so great, that it justifies abandoning the course of slow adaptation of the present monetary regime in favor of revolutionary change.”

[Inflation is the creation of currency and credit out of thin air; and the CONSEQUENCE IS A RISE IN PRICES AND A BENEFIT TO THE FIRST RECIPIENTS OF THE FIAT MONEY AND CREDIT AT THE EXPENSE OF LATER RECIPIENTS, ESPECIALLY THE POOR (AND THE BIBLE STATES THAT BECAUSE OF THE IMPACT ON OTHERS, ESPECIALLY THE POOR, THIS IS AN ABOMINATION TO GOD. Richard Duke]

https://mises.org/wire/sound-money-our-best-hope-against-monopolists-threat

SEE:

Hidden behind ‘the love of money is the root of all evil’ is Mammon—the god of finance. Part One—Audio

 

Hidden behind ‘the love of money is the root of all evil’ is Mammon—the god of finance. Part Two—Audio

 

Nehemiah: The king and his nobles (cronies) extracting from the people through debased silver

 

Micah 6: wicked balances and bag of deceitful weights

 

Inflation (creation of currency and credit out of thin air) under James 5:1-6

 

Debasement and Crony Capitalism; Nothing is New Under the Sun

 

Counterfeiting Money Is a Crime — Whether Done by the Fed or A Private Individual

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A general, but serious, reason to read this book— The Skyscraper Curse: And How Austrian Economics Predicted Every Major Economic Crisis of The Last Century — is to avoid being one of the millions who will be duped when the next crash (bust) occurs. Millions were and continue to be duped as to the reason for the boom leading up to 2007 and 2008 and why the bust occurred in 2008 relating to real estate.

Thornton begins with an important discussion of money creation and Richard Cantillon, writing: “… Richard Cantillon (1680s-1734?) [was] the first economic theorist and proto-Austrian economist …[he] showed how the interest rate and the money supply can create changes and distortions in the economy, a phenomenon now referred to as “Cantillon effects.”

Monetary inflation is affected by who gets the money and credit first and who gets it last. As fiat money is created by central banks, private banks are in a position to expand the amount of loans they make. The wealthy have established relationships with the banks, and they have the real estate and assets to provide collateral for the loans. Large, established companies and wealthy individuals are in favorable positions relative to small businesses and people with low or average incomes. The loans allow big companies and wealthy individuals to invest in capital goods during the boom phase of the business cycle. Central banks thereby create artificial inequality and poverty. This is the primary Cantillon effect of redistributing wealth.”

Review by Richard Duke on the Mises Institute website of the book: The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century by Dr. Mark Thornton

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The Root of All Evil . . . the LOVE of Money!

 

Hidden behind ‘the love of money is the root of all evil’ is Mammon—the god of finance. Part One—Audio

 

Hidden behind ‘the love of money is the root of all evil’ is Mammon—the god of finance. Part Two—Audio

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