It started with the Federal Reserve and Government induced dot.com monetary bubble bursting in 2001. A few years later the second Fed/Government monetary induced bubble burst in 2008, putting millions out of work while rescuing every complicit bank and business with trillions of dollars in direct and indirect bailouts.
Since 2008 we’ve had six years of continued Government deficit spending and Federal Reserve disruptions of the market with nothing to show for it but another set of bubbles in the stock market, commodities, and junk bonds while at the same time destroying the savings and middle-income jobs of Americans. Based upon the failures of the last 15 years, reason would say it was time to reevaluate the logic of Government interference in free markets and banking – however it appears that reason and logic have no place in the capitals of the world.
Instead it appears that illogic and a rejection of reason are the pillars of this century. Take the latest scheme (see below) being proposed by the European Central Bank and its Keynesian supporters as reported in Der Spiegel magazine.
"An increasing number of economists and finance professionals are promoting the concept of "helicopter money," tantamount to dispersing cash across the country by way of helicopter…..
Instead of a helicopter however, one day, every resident of the euro zone comes home to find a check in their mailbox worth over €500 euros ($597) and possibly as much as €3,000. A gift, just like that, sent by the European Central Bank (ECB) in Frankfurt.
Some go further, calling for giving €5,000 ($6,000) to €10,000 ($12,000) to each citizen. "It has to be massive if it is going to have any effect” they state…. After all, not a single central bank has ever tried such a daring experiment."
Read the entire article here:
And there it is captured in the final sentence, “After all, not a single central bank has ever tried such a daring experiment.” Does one need to jump in front of a train in a “daring experiment” to know that central bank counterfeiting trillions of dollars and giving it to people is a disaster for a monetary system, free markets and the people of every nation? Does any sane person believe money can be created out of nothing without consequence – why then is it illegal for individuals to counterfeit a few thousand dollars but legal for Central Banks to counterfeit trillions? Once this free-money monster is unleashed it will never be restrained despite the promises of a ‘one-time only fix’ – has there ever been a politician who could pass up giving freebies to the masses in order to gain reelection or an interest-group who won’t ask for more as a solution for their perceived problems?
We stand on the brink. Currently, around the world, Government’s deficits are the largest they have ever been. Consumer debt is at all-time highs. Central- bank enforced zero-percent interest rates and purchases of Government debt and junk bonds have destroyed the credit markets and created new bubbles. The result being the greatest binge of mal-investment in the history of civilization – it cannot continue.
Once free markets and sound money are destroyed the result will not only be financial disaster but destruction of Governments and the foundation of modern Western society. In times such as these the People are more likely follow demi-gods and madmen than the voices of logic and reason.
If we wish to prevent this we must act now. We must reclaim the ideas and concepts upon which Western civilization and America were founded: Individual Rights, Limited Government, sound money, and the rule of law to name a few. These actions will never be completed by the current political system and power structure in the United States.
It is time for the 2nd American Revolution.