race, in its advanced economic form, is committing euthanasia. The US, UK,
Europe and Japan are all implementing economic policies that must ultimately result
in the complete destruction of their currencies; and if you destroy the means
of exchange of goods and services, your people will starve. The political
class and government establishments have drifted in incremental steps into
this tragedy. Far from being the guiding hand for society, they are its
We all look
to government to supply what we used to provide for ourselves, in the
naïve belief that it is our servant, it has our interests at its heart,
and that it can deliver. Collectively we have chosen not social co-operation,
but the disintegration and ultimate destruction of society itself. We labour under so many misconceptions about where our true
interests lie that we have completely lost our bearings. We have in our time
witnessed other nations destroy their own economic and social structures and
do not see it happening to ourselves.
reality intervenes, we deny it. The state controls money and prices. It makes
economic calculation meaningless. It takes our property in the name of the
common good to dispose of as it sees fit. There is nothing new in this:
Keynes himself advocated the euthanasia of the rentier,
or saver, in his General Theory, which is every neo-classical
economist’s vade mecum. He advocated replacing the functionless
investor with limitless state capital, and even capping the profits of the
entrepreneur. We have been following Keynes’s grand fallacies for 90
years now. His vision is our sad reality.
The cost is
our own impoverishment and loss of freedom. The state only values us for our
contributions to it. We must be controlled for our own good. The state does
not fear for itself so long as there is any wealth left to sequester from us
and any freedom left to us to pursue non-statist objectives.
governments mentioned in the first paragraph are running out of their
citizens’ money. Together, they are destroying their capital at an
accelerating rate, just so that they may survive. They rely on mutual
planning in the erroneous belief that it will save them, when the only chance
for any one state to survive and eventually prosper is to stop conspiring and
face up to the problems of its own making.
next year – when the weaker governments begin to collapse under the
hammer-blows of economic reality – when they cannot hide the insolvency
of their state-regulated banking systems, the stronger governments will
sequester the remaining resources of their own citizens to prop them up, as
Germany is doing to her people today.
paraphrase Macbeth at his lowest ebb: It is a tale, full of sound and fury,