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Political Information Last Updated: Nov 30, 2019 - 9:35:31 PM


The Hidden Link Between Fiat Money And The Increasing Appeal Of Socialism
By Patrick Barron with comments by Ron
Dec 1, 2019 - 12:28:50 AM

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https://mises.org/wire/hidden-link-between-fiat-money-and-increasing-appeal-socialism

What causes the seemingly unfounded confidence in socialism we encounter more and more in the news media and among political activists? In the Extinction Rebellion movement, for example, activists are quite certain they have learned that there is an alternative to markets as the means to economic prosperity. It's a means that does not involve meeting the legitimate needs of one's fellow men in the marketplace.

It is likely not a coincidence that most people living today have lived most of their lives in a world dominated by fiat money. It has now been nearly fifty years since the United States broke all ties between the dollar and gold. It's been even longer since other major currencies were tied to gold at all. Consequently we now live in a world where the creation of wealth is seen by many as requiring little more than the creation of more money.

 

[Ron: It has been truly said that money is the root of all evil. It is also true that the evil fruit of the money meme is usury which has created a dystopia on this planet by spawning a plethora of materialistic, anti-spiritual ideologies notably Capitalism, Liberalism, Mercantilism, Fascism, Communism, Bolshevism and Socialism etc. All of these ideologies have demonic results arising from the money meme which has corrupted human spiritual development and enabled the enslavement of this planet and its inhabitants.

The current debate about the merits of Capitalism verses Socialism is a false debate since both ideologies are based on false premises. Capitalism assumes that the individual is divorced from and in competition with the community while Socialism assumes that the individual and the community cease to exist as both are subsumed within the collective.

Ensouled human beings (HUmans) are sovereign individual entities whose divine personal worth cannot be assessed in terms of money or the things money can acquire. Each HUman is a divine, unique, free will personality, and subjecting HUmans to the dictates of money based ideologies has demonic consequences.

The current dominant global ideology is based on the money meme and Capitalism, and the belief that to maintain human life and society in abundance or at all, requires that most humans must scrabble as wage slaves for corporations or as small business operators competing with corporations and each other for employment and profits, ie existence. That ideology and societal model is obsolete. The need for most humans on this planet to continue to compete for employment as free range serfs is rapidly eroding as developments in Artificial Intelligence (AI), robotics and technology is creating abundance without the need for cosmically unlawful mass wage slavery and personal income taxation.

Income taxation was introduced in the US at the same time as the Federal Reserve System (the Fed) was established in 1913/14, in order to ensure that the US government could pay interest to the banksters who created the Fed and the US corporation. Similarly, income taxes have been instituted all over our world during the last hundred years by governments controlled by banksters in order to ensure that governments could pay interest to them. In effect, usurious banking is a slave control mechanism operated by covert global controllers to steal the productivity of humanity.

To let go of dependence on Capitalist and Socialist systems, USans and the global population generally need to become aware of the reality that the money meme has led to the enslavement of the global population and its immersion in a competitive, materialistic, lethal dystopia. That awareness is needed to ignite a quantum leap in consciousness that can enable a critical mass of the population to understand the need to CHANGE current ideological dependence on the money meme and hence attitudes to self and others so that people begin to embrace lives of cooperation and service to others more than self, as typified in loving family and extended family life. When that occurs in relation to community life generally our world will cease to believe in the need for money and Capitalism or Socialism.

A necessary first step in that awareness process requires that communities reject usury, fractional reserve banking and corporate personhood. Why? Because those memes have enabled demonic hidden bankster controllers to use them as tools to mind control humanity to accept enslavement.

Societies and communities may also have to eliminate limited liability companies and private ownership and/or control of any major corporations that purport to own the AI and technology needed to sustain everyone in abundance.

Our world is on the cusp of an AI controlled industrial revolution that will create abundance for all without everyone having to work long hours at dehumanising labour. Once AI and robotics dominate industrial, construction, transport, agricultural, health, legal, accounting and other industries, the labour force required for servicing, maintenance and creation of improved robotic and technological designs etc will NOT require more than a fraction of the human manpower currently required to perform the work that will be done by AI and robotics in the future.

Accordingly, what we need to do is start focussing upon what these developments really mean for life as we know it. The first and glaringly obvious question arising from the coming technological dominance of the production for and servicing of human needs IS who will control the output of AI and robotics and who will reap the benefits from that output? Currently our world is a growing unemployment and underemployment, low wage, high taxation welfare state dystopia because a handfull of incredibly rich individuals control the bulk of transnational corporations AND those individuals accumulate and KEEP the bulk of the benefits of that corporate production and associated servicing activities. See eg: How Billionaires Become Billionaires - http://abundanthope.net/pages/Political_Information_43/How-Billionaires-Become-Billionaires.shtml

How Interlinked Corporations Rule The World. - http://abundanthope.net/pages/Political_Information_43/How-Interlinked-Corporations-Rule-The-World.shtml

The corporate stranglehold on food and agriculture. - http://abundanthope.net/pages/Health_and_Nutrition_37/The-corporate-stranglehold-on-food-and-agriculture.shtml

BLIND FREDDY can see that this situation is NOT sustainable. The question is: 'What, if anything, is the bulk of humanity going to do about it? Endless irrelevant debates about the merits of Capitalism verses Socialism et al merely masks the problem and ensconces the status quo thinking that got us into the dystopia we currently inhabit. Neither Capitalism nor Socialism can meet the challenges we face. Proper use of AI and robotics etc should enable ALL of humanity to begin transitioning into a new age free of the drudgery of endless physical work that has hitherto been needed to survive.

The fact that in future HUmans will not need to ‘bust a gut’ merely to survive does not mean that their creativity will cease because their efforts may not make individuals immeasurably richer than their neighbours. In fact, once people become free to think and develop their innate creativity instead of scrabbling for a living as free range serfs (wage slaves) in the fascist capitalist milieu we currently inhabit, human productivity and creativity should increase.

However, that prosperous and abundant future for all can only be achieved if we shuck off the mind controlled illusion that a tiny cabal of corporatists and entrepreneurs are entitled to OWN and control the corporations and hence the technologies and profits of the machines that create abundance for all. Today it is estimated that about 700 individuals own and/or control the mega trans-national corporations that control the bulk of global infrastructure development and production of goods and services. Those individuals already HAVE most of this worlds' wealth and if they are allowed to continue to control the production and KEEP the totally inadequately taxed profits of most global mega corporations, human life on this planet is doomed.

The solution is obvious. Nations and communities must take back ownership OR control of the corporations that use AI and robotics etc to produce essential societal needs in the future. IF nations and communities ensure that the profits of ALL corporations are properly taxed so that NO ONE is able to appropriate, hoard and use for private purposes the unearned increments accruing from the use of AI, robotics and technologies generally, humanity will enter a golden age. But if not, not.

A truly civilised society will be a Christed society whose members' increased awareness and wisdom enables them to develop a higher level of consciousness which leads members to embrace service to others more than self. The result will be a growing sense of community and Oneness in which the genuine needs of everyone are met voluntarily by community members. The situation will be analogous to the ethos in a loving family, extended family or clan. In loving communities’ money, personal advantage and/or power cease to be desirable and become irrelevant.].

 

In this kind of world, why not have socialism? If we run out of money, we can always print more.

Unlimited Money Feeds the Myth of Unlimited Real Resources

The world was on a watered down version of a gold standard until 1971 when the US abandoned its solemn promise - the 1944 Bretton Woods Agreement - to back the dollar with gold at $35 per ounce. Gold backing of a currency provided a solid intellectual foundation of reality that few even recognized existed within themselves; (i.e., that we live in a world of scarcity and uncertainty). This reinforced the idea that wealth has to be built. It cannot be conjured out of thin air, just as gold cannot be conjured out of thin air.

But fiat currency can be conjured out of thin air and in enormous amounts. The longer a fiat currency is the coin of the land, the more one is led to believe that nothing should be in short supply, since everything is bought with money and money need not be in short supply. Those who know only unlimited fiat money soon demand free healthcare and free higher education as a right. And why not? Unlimited money will pay for it. Into this never-never land comes demands for scrapping the fossil fuel underpinnings of our modern economy by those who understand nothing of how an economy works. But, apparently one does not need to understand technical limitations, because there are no technical limitations. The "barbarous relic" (gold) had once limited the money supply and thusly seemed to limit the supply of vendible goods. Gold has been replaced by unlimited fiat money. Now it seems that unlimited aggregate demand can be funded by unlimited fiat money, leading to a world of plenty.

[Ron: Actually the supply of goods and services in society depends on two things, the availability of labour and physical materials. Money is merely a lubricant, a convenient means of facilitating the utilisation of labour in the production of goods and services. A society needs labour, namely people or animals and machines, in order to grow crops or work on available physical resources to produce infrastructure and goods and services. Money is not essential to that process. For instance medieval serfs usually produced crops and goods and services without receiving money for their efforts. In Western society money came into vogue once peasants were evicted from the land during the Agricultural Revolution which fueled the industrial Revolution. The banksters consolidated the change during the American Civil War. See eg: The Matrix, the Strawman and WHO You Are. See: http://abundanthope.net/pages/Ron_71/The_Matrix_the_Strawman_and_WHO_You_Are_3030.shtm

Money, whether real as in, say, gold or silver, or fiat currency, is needed today because the banksters have created a world in their own image in which most people sell themselves to employers, society  and each other on the basis of the money they have or can acquire.

In reality prosperity and abundance results from high productivity created by community members using their ingenuity and labour, provided that the end product is kept within and/or owned by their community. Centralised corporate and/or government control within a nation and between nations as a result of  globalisation, siphons off much of the value of local productivity. The result is that local, regional and often national poverty is caused by centralisation and/or globalisation that enables corporate and government manipulators to steal the wealth produced. In other words, poverty is caused by governments and global corporate elites stealing community resources and/or the production of goods and services produced by communities. The solution is for communities to retain ownership and/or control of their physical resources and production.].

Designer of the Bretton Woods Agreement Lord Keynes says so in this very insightful short video.

Fiat Money Turns the World Upside Down

The psychological impact of a lifetime within a fiat money economy cannot be underestimated. One's world is turned upside down. For many, financial success becomes prima facie evidence of exploitation of the masses rather than something to be admired and to which one could aspire also. With more wealth seemingly available at the click of a computer button, only an Ebenezer Scrooge would deny funding the latest demanded government program. If wealth is so easy to create, many conclude only greed and cruelty are what stand between us and far greater prosperity for all.

But that is the very reason that fiat money is so subversive to the social order. In a sound money economy any new spending program can be funded only by an increase in taxes, an increase in debt, or by cutting existing funding. There is a real cost to each of these options.

[Ron: The "cost"of any "program" is really the labour and physical resources used for it. Money is a human invention used to grease the wheels of the activity but it doesn't actually "do" anything.].

There is a real cost to printing money, too, but the cost is hidden. One does not see malinvestment at the time of money printing. Price increases are delayed and uneven, due to the Cantillon Effect whereby the early receivers of new money are able to purchase goods and services at existing prices. Later receivers or those who do not receive the new money at all suffer higher prices and a reduction in their standard of living. Even then most people do not link higher retail prices with a previous expansion of the money supply.

[Ron: Since the establishment of the Federal Reserve System (The Fed) in the US in December 1913, so-called US dollars have been devalued by grossly excessive issuance of currency created out of thin air by banks to the point where today a US Federal Reserve Note (a so-called US dollar) will buy what ONE CENT could buy in 1914. This means that an income of say, $1000 dollars a week today would be the equivalent of $10 a week in 1914. Moreover this devalustion of the currency is accelerating today because the Fed is saying that it is "creating" sums like 50 billion USD a day and giving it to banks to keep the financial system going.

The fractional reserve banking system operated by the Fed and other Rothschilds' controlled global Central Banks and their associated commercial banks, issue currency, ie fiat debt tokens fraudulently called "money", by typing figures into computers. Accordingly this so-called "money" is created out of thin air with virtually no valuable backing at all. That is why governments have legislated to FORCE their citizens to use that currency and no other. They have also legislated to institute government "Bail Outs" whereby taxpayers provide billions of dollars/euros/ pounds etc to bankrupt banks. More recently governments around the world have also legislated for "Bail Ins"; ie NOW, if a private corporate commercial bank is bankrupt it can take funds deposited in the bank for safekeeping by private individuals and entities, and convert it into bank shares without the consent of the depositors. As the bank is bankrupt, this may mean that the depositor loses most or all of the money so taken.].

 

It would be hard to invent a more effective method for the destruction of modern society. As Pogo would say, "We have met the enemy and he is us."

[Colour fonts bolding and comments in square brackets added.].

RELATED ARTICLES:

The Matrix, the Strawman and WHO You Are. See: http://abundanthope.net/pages/Ron_71/The_Matrix_the_Strawman_and_WHO_You_Are_3030.shtm

Capitalism vs. Socialism Debate - LibertyCon 2018 - http://abundanthope.net/pages/Other_Spiritual_Pieces_68/Capitalism-vs-Socialism-Debate---LibertyCon-2018.shtml




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