Guest Post by The Zman
A popular retort to the gold bugs, those people who insisted that all the world’s problems stemmed from fiat money, was that a government so corrupt you needed hard money to control it, was so corrupt it would find a way around hard money. The point of the expression was mostly to cut off discussion about the dangers of fiat money, as there was never any point in discussing it with the gold bugs. Like all fanatics, they saw only that which confirmed their fanaticism.
There was a subtle truth in the expression. That is, the nature of money is a reflection of the ruling class that created it. Even with hard money, there is a connection between the type of coin and the type of ruler. Hard money is the product of private government, so it reflected the interests of private government. When Kings Offa and Charlemagne adopted coinage, they did so because it increased their power. Seigniorage is a great benefit to the person who controls the minting of coins.
The reason hard money lost favor in the 20th century is the nature of government changed in the West. We had moved from private government to public government, so the value of money to the ruling class changed. The king liked hard money as it was good for him. In liberal democracy, fiat money benefits the ruling elite. Now that we are in a post-national world, credit money is the coin of the realm. In other words, money is a consequence of the ruling class, not a cause of it.
This is an important point to keep in mind when thinking about the current crisis. The institutions are not the cause of bad government, but a byproduct of the corrupt people infesting the ruling class. In most cases, the institutions have not changed all that much over the last century, but how they are wielded has changed. The current ruling class has no respect for the intent of those institutions. They see them only as tools that they can wield to their personal benefit.
The courts are a great example. In the course of a couple generations, the legal system has gone from a safeguard to civil order to a threat to it. The courts themselves have not changed in any major way. The structure of the legal process and the laws themselves are mostly the same. There has been no change to the Constitution in generations. Yet, the same court that would have laughed homosexual marriage out of the room a generation ago declared it a sacred right.
The same can be said of the mass media. Before the current ruling class took over the media, there was bias, but there was also a respect for the need to inform the public about current events. Newspapers took it as a duty to do things like local news and offering some platform for alternative opinion. It was not ideal, but the ruling class still respected civic virtue enough to try. The radicalized subversive, who control the media today, see the media as a weapon to use against the people.
This is why talking about reform misses the point. Those who think we can constrain this ruling class with changes to the structure of society are embracing a mechanistic view of society. They see society as a machine that can be tuned to make the people better within it. It is the mindset of communists and libertarians, who ultimately believe humans are infinitely malleable, even those who rise to the top. It is also a conceit by people who think they have the key to reaching paradise.
The fact is, no reform that would work against the interests of the ruling class will ever see the light of day. These people are soulless and degenerate, but they are not stupid or naive. They understand perfectly well how they remain in power and it sure as heck is not by allowing social reformers to strip them of their authority. Any reform they cannot prevent, will ultimately be subverted, as that is their nature. Just a dog returns to his vomit, this ruling class will subvert orderly society.
On the other hand, the people in charge love talking about reform, because it keeps any opposition to them busy on fool’s errands. You’ll note that Washington is full of reform plans and people peddling them. Every politician promises to be a reformer. Our elections are nothing but pitch men promoting the latest reform potion. The whole point of these distractions is to keep the public from noticing that after every election, the same people remain in charge and the polices never change.
The hard truth of this age is that the ruling class is beyond reform, because they are no longer us. We cannot appeal to their better natures, because they don’t share our nature or see us as them. Just look at the presidential race. One side is full of candidates promising to really stick it to white people. On the other hand, Trump is endlessly touting his efforts for Israel and various categories of non-whites. A political class that proudly hates white people is not going to listen to the appeals of white people.
Reform, if it is going to come, will do so in front of the hang man and be championed by the billionaires who control the political class. Just as the anarchist bombings scared the rich into ending immigration from Eastern Europe, some crisis will have to scare the global pirates, who run the West, into hiring a new political class. If that does not happen, then we are headed for a revolutionary moment when this order is violently overthrown as a matter of survival.
The people can not be all and always, well informed. The part which is wrong will be discontented in proportion to the importance of the facts they misconceive. If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty. we have had 13 states independent 11 years. There has been one rebellion. That comes to one rebellion in a century and a half for each state.
What country before ever existed a century and a half without a rebellion? What country can preserve it’s liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to facts, pardon and pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is it’s natural manure.
–Thomas Jefferson, Paris 1787
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It matters not your monetary system, so long as the people are in control of their government. Once they lose control of the government, then the manipulation of the monetary system is simply a symptom of the disease.
“Permit me to issue and control the money of a nation, and I care not who makes its laws.” —Mayer Anselm Rothschild, 1790
“the corrupt people infesting the ruling class”
“”Goyim were born only to serve us. Without that, they have no place in the world—only to serve the People of Israel. Why are gentiles needed? They will work, they will plow, they will reap. We will sit like an effendi and eat.” Rabbi Yosef, Israel’s Shas Party
the tribe isn’t corrupt. they’re just following their religion. they’re quite moral with each other, it’s just that they see themselves as the owners of the world and everything in it by divine decree, and the rest of us as talking animals put here by god to serve them, to be eliminated if we don’t. morality and justice are for them, not us – we’re just animals, we don’t count, we don’t matter, except only if and as we serve them. if we rebel against their divine rule they experience that as the irrational evil and hatred of stupid animals, in every generation, and they religiously and faithfully seek to re-assert their divine and righteous primacy and proprietary rulership, in every generation. it’s been their nature, their religion, what they do, for 3000 years now.
They never understood their rightful position in the world; to be the channel of blessing from God to man. The human heart is corrupt, deceitful. They follow it and not God. This will only change after violent Divine revolution on Gods schedule. Someday things will change and their purpose will be fulfilled by Divine intervention. The New Testament realized.
Romans 11:12 KJB… “Now if the fall of them be the riches of the world, and the diminishing of them the riches of the Gentiles; how much more their fulness?”
True reform.
I generally like Zman’s articles and find I usually agree with him. However, I don’t understand his hardon against Libertarians and, in this article, gold. Grouping Libertarians with Communists and gold with fiat money seems rather absurd.
I think Zman had a bit too much dogma for breakfast.
Fiat currency is little more than a way to game the system and rob from those less sophisticated citizens. Particularly when coupled with banking and mortgages.
the u.s. dollar is not a fiat currency – would that it were. rather it is a fiat debt currency. whole ‘nuther animal, and a vicious one.
When there are NO LIMITS to the money that can be created, the type of people that are attracted to that money, are a completely different class of folks than ones willing to operate within the constraints of sound money. A criminal is a criminal, and I do not disagree that a criminal always finds a way. But when one lists out the multitude of instances of governmental over reach and corruption, one cannot even begin to discuss these without addressing the reality that fiat money and unlimited creation, are what “funded” the expansion of both size and power of the government. Despite all the criminals that infested our government prior to 1913 (and there were tens of thousands), most Americans had virtually no dealings whatsoever with the federal government other than their mail. Government simply was NOT ABLE to grow in scope or power. Once the money spigot was turned on with the creation of the Federal Reserve (and the subsequent destruction of the pseudo-gold standard by FDR and Nixon), all the limits were completely off.
Sound money is NOT reform. It is a proper and MORAL way of utilizing money in an economy. The rest will indeed fall into place, as ONLY fiat money can support the size and scope of the criminal establishment we now face.