For our closing post of the day we once open the floor to Sean Corrigan who proves that just when we thought all historical comparisons to the current deplorable economic miasma have been used up, a new one springs up, this time perhaps the one most indicative not so much of the past but of the future. Indeed, if history is any indication, and it is, America's catastrophic and untenable position is worse than even that of one Louis XIV, better known as "The Sun King", whose rule set the stage for the downfall of the French monarchy and which ultimately culminated with the French Revolution of 1789.
For arguably the best indication of historical parallels to the present, and yet another confirmation that there really is nothing new in this world, especially in the world of central planning of monetary affairs, we present the following summary of the practices of Louis XIV which is verbatim applicable to the actions of the current central planning cartel:
"The administration of the finances appears to have practised a subtle and ingenious tactic… [and] by modifications in the monetary unit, attempted to influence economic phenomena. Changes… were made to prepare for the issue of loans or to audit the circulation of the treasury notes, or to regulate exchange, to modify the balance of trade… to effect a redistribution of wealth, to influence the price level of commodities, perhaps to attenuate economic crises and famines…"It may come as a surprise to some that the very same type of central planning that Bernanke, and his central banking brethren, are trying to inflict (and failing) upon the world, was the same that was attempted on so many occasions in history, most poignantly, and catastrophically in the late stages of the French monarchy. Needless to say the attempts by one man to control a far simpler French economy well over two centuries ago failed, yet ironically, not even then did the economy reach our current level of collapse.
Which begs the question: how long until our own "Sun Chairman" finally forces the hundreds of millions of great unwashed out of their hypnotic trance following the realization that their "equity" in the great American experiment, their pensions, lifetime accrued benefits, retirement funds, and of course savings, have been completely wiped out, and another historic 'storming', only this time not of the Bastille, but of the Marriner Eccles building, the focal point of all that is broken with not only America but the world, finally ensues. Just as over 200 years ago, the longer the wait, the greater the ultimate loss for the working class... and the bloodier the ultimate outcome for the modern day iteration of the clergy and aristocracy, also known as contemporary politicians and bankers. And to those saying we are getting ahead of ourselves, we borrow a phrase from the lexicon of unconventional wisdom: "this time is never different."
From Sean Corrigan: If It's Broke, Don't Fix It
In Elgin Groseclose’s magisterial ‘Money and Man’, the following, eerily contemporary quote appears in his chapter on paper money:
Central economic planning reminds me of the opening scene of the Rocky and Bullwinkle Show.
ReplyDeleteRocky: "That old trick never works."
Bullwinkle: "This time for sure!"
[Rabbit-out-of-the-hat-trick fails miserably]
Central economic planning NEVER works. It works no better in the USA than it did in the USSR, despite our conceit that it'll be different this time, because we're special. We have that American Exceptionalism thing going for us.
It's just like socialism. I can present a list as long as my arm of historical examples where socialism failed, and some modern advocate for socialism will explain it all away by saying that those cases don't count because they didn't do it right, and we'd do it right this time. Uh huh. I'm sure that's how it was sold all of those other times, too... just before the violence and oppression that follows every socialist revolution. The promised socialist worker's paradise is a Utopian vision that always remains just out of reach.
I hope we wake up and come to our senses, so we can avoid the French Revolution that's coming to America, before it leads our country down the path to the socialist nightmare that is modern day France.
they didn't do it right, and we'd do it right this time. Uh huh.
ReplyDeleteYup, we'll only have to kill 50 million this time........