Tag Archives: Academia

The Student Loan Bubble and Economic Collapse

student loan bubble III

The inevitable collapse of the student loan “market” and with it the takedown of many higher educational institutions will be one of the happiest and much needed events to look forward to in the coming months/years.  Whether the student loan bubble bursts on its own or implodes due to a general economic collapse, does not matter as long as higher education is dealt a death blow and can no longer be a conduit of socialist and egalitarian nonsense for the inculcation of young minds.

The perilous condition of the student loan sector can be seen by looking at a few ominous pieces of data:

  • The US has around $1.3 trillion in non dischargeable loans to students
  • Over 120 billion in student loans are already in default
  • 27% of students are a month behind on their payments*

As economic conditions deteriorate and there are even less meaningful jobs for college graduates than there are now, these numbers will only get worse.

Not only have colleges and universities been havens of leftist thought for many years, but they have become ridiculously expensive and beyond the reach of most middle-class income earners to afford without going into significant debt.  Moreover, the incessant barrage by the Establishment about the necessity of a college degree has distorted the labor market to where worthless, debt-ridden degrees are pursued instead of much needed blue-collar employment.  The readjustment of the labor market to a proper balance will not only take time, but it will be a costly, painful process.

While the “hard” sciences have not been as effected by the Left, the social sciences have long been an intellectual wasteland devoid of any freedom of thought or opinion.  Promotion and recognition of academic excellence is, more often than not, based on diversity and one’s skin color not merit.  Arguably, economic science has been the most corrupted discipline.  Economics departments of major universities are now training grounds for employment in state and federal bureaucracies, the banking industry, and Federal Reserve where Marxism, Keynesianism, neo-Keynesianism or whatever kooky, nonsensical theory of the day can be put into practice.

While higher education has long been hostile to the ideals of Western Civilization, it is now explicitly a bastion of anti-white discrimination and hostility especially against white heterosexual men.  Few days now pass where there is not an incident, many of which are approved by school authorities, blatantly attacking white Americans or symbols that supposedly represent them.

Of course, the higher education apparatchiks have had an easy time in their brainwashing task since the impressionable minds in their charge have been indoctrinated by twelve years of public “schooling.”  Not only has the public school been a mechanism of social engineering, but it has constantly pushed its chattel to continue their “education” at the collegiate level.

The Trump Administration and most on the Right have failed to grasp the liberalistic bias of American education.  Education Department Secretary Betsy DeVos has spoken about “competition” via school choice, vouchers, magnet and charter schools to increase school and student performance.  The Administration’s proposed 2018 education budget calls for an increase in federal spending on school choice by $1.4 billion, a $168 million increase for charter schools, and a $1 billion increase for Title I “to encourage school districts to adopt a system of student-based budgeting and open enrollment that enables Federal, State, and local funding to follow a student to the public school of his or her choice.”**

These shopworn ideas and policies are not only fundamentally flawed and will make matters worse, but they will do nothing to counteract and or end the Left’s domination of education.  Instead, President Trump should do what he spoke of at times on the campaign trail and what President Reagan promised to do, but never did – abolish the Department of Education!

While the collapse of the student loan bubble may be the catalyst for a general financial downturn and will certainly be the cause of tremendous social pain and dislocation, it will, nevertheless, be a necessary prerequisite if America and, for that matter, the Western world is to ever break the grip of leftist ideology which rules it.  May the bursting of the student loan bubble commence!

*Tyler Durden, ‘”Staggering’ Student Loan Defaults On Deck: 27% Of Students Are A Month Behind On Their Payments.”  Zero Hedge.  15 April 2017. http://www.zerohedge.com/news/2015-04-15/staggering-student-loan-defaults-deck-27-students-are-month-behind-their-payments

**Jade Scipioni, “Why Betsy DeVos Is Visiting This Ohio School Today.”  Fox Business.  20 April 2017.  http://www.foxbusiness.com/features/2017/04/20/why-betsy-devos-is-visiting-this-ohio-school-today.html

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com

 

 

Pope Francis and Libertarianism

no-pope-bergoglio  Don't Tread on Me

The purported pope of the Catholic Church recently attacked “libertarianism.”  As a number of theologians have ably shown, Jorge Bergoglio, a.k.a Pope Francis, cannot be a legitimate pope since he was neither ordained as a priest or consecrated as a bishop in the traditional Catholic rite of Holy Orders.  And, since he is not a bishop, he cannot be “bishop of Rome” – a prerequisite for being the head of the universal Church.

While “technically” he is not the pope, Bergoglio is a notorious heretic who has said a mind-boggling number of heresies, engaged in the most scandalous of actions, and has attempted to change doctrine and Church teaching.  He is not the pope since a heretic is necessarily outside the Church and, thus, cannot hold ecclesiastical office, especially that of supreme pontiff.

If Bergoglio’s “invalidity” is not damnable enough, “Pope Francis” is a neo-Marxist who has repeatedly called for the redistribution of wealth, promoted mass migration, and has denigrated capitalism, accusing it of impoverishing the poor.

Naturally, with such a dossier, Bergoglio would be hostile to the concept of libertarianism.  And, as a skillful demagogue, he has deliberately mischaracterized the subject.

In a message to a meeting of the Pontifical Academy of Social Sciences, Bergoglio harshly stated: “I cannot fail to speak of the grave risks associated with the invasion of the positions of libertarian individualism at high strata of culture and in school and university education.”*

If Bergoglio thinks that higher education is infected with “libertarian individualism,” he is more delusional than he has been given credit for!  Academia has long been a bastion of collectivist thought.  Libertarianism and, for that matter, conservative ideas have little voice in higher education.  Moreover, Western culture is dominated by the ideals of social democracy, a philosophy that is anathema to libertarianism and also to real Catholicism, not the kind that is preached by imposters such as “Pope Francis!”

It is probably deliberate that Bergoglio uses the word “invasion” in his description as he subtly mocks his audience.  The only invasion that has happened is not a takeover of academia by free-markets zealots, but by the millions of “asylum seekers” that have been thrust upon European soil which has been encouraged and orchestrated by the likes of multiculturalists such as Jorge Bergoglio.

“[T]he libertarian individual denies the value of the common good,” Bergoglio continues, “because on the one hand he supposes that the very idea of ‘common’ means the constriction of at least some individuals, and on the other hand that the notion of ‘good’ deprives freedom of its essence.”

Of course, to arch collectivists like “Pope Francis,” the common good always trumps individual rights.  While he does not explicitly say it, the “common good” means for the good of the state, and for those who place their own self interest or that of their family before the state’s interest, they are to be ostracized or worse.

Libertarianism to Bergoglio is an “antisocial radicalization of individualism” that “leads to the conclusion that everyone has the right to extend himself as far as his abilities allow him even at the cost of the exclusion and marginalization of the more vulnerable majority.”  By living “independently of others” a person can attain freedom.

Once again, as he had done throughout his “papacy” Bergoglio demonstrates that he is an economic ignoramus who does not grasp a basic tenet of social relationships.

Libertarians are proponents of the market economy and markets are the result of the division of labor, specialization, and exchange.  Society, in part, is the amalgamation of numerous markets and advanced societies are ones with a highly developed division of labor.  Overwhelming empirical evidence has shown that such societies are not only richer, but are more culturally advanced than self- sufficient societies (autarky) where individuals produce everything for themselves.

In such an order, an individual produces or provides services which he does best.  Since he does not produce everything himself, he, therefore, depends and needs to interact with others in exchange of goods he does not produce.  In the market economy, very few live “independently of others” as Bergoglio stupidly believes, but must rely and depend on their fellow man.  Even entrepreneurs, who Bergoglio implicitly condemns in the above passage, have to rely on consumers to patronize their products and services or they will quickly go out of business.

Bergoglio, of course, does not understand that there are many shades of libertarianism running a wide spectrum of social, political and economic thought.  If there is a common theme among libertarians, it is opposition to the modern state and the welfare/warfare system upon which it rests.  The modern state will not tolerate any competition for the minds, hearts, and souls of men.

Until the Second Vatican Council (1962-65), the Church recognized that the modern state was not only its enemy, but the enemy of mankind.  In this respect, the Church had common ground with the libertarian and conservative movements of the 20th century.

The Second Vatican Council and the “reforms” which came in its wake produced an environment that has led to the likes of cretins like Jorge Bergoglio who has not only repeatedly blasphemed the Divine Founder of the institution in which he supposedly heads, but regularly spews out all sorts of discredited neo-Marxist nonsense.

While “Pope Francis” condemns libertarianism, the solution to the financial, political, and many of the social problems which confront the Western world will only be solved by “libertarian means” – a gold/silver monetary standard, political decentralization/secession, de-militarization/non-intervention, free trade, and the application of private property rights to the migration crisis.

For the good of mankind, not only should Jorge Bergoglio be ignored as supreme Roman pontiff, but he should likewise be ignored when speaking on any and all public policy matters.

*Thomas D. Williams. “Pope Warns Against ‘Invasion’ of Libertarianism.”  Breitbart.  28 April 2017.  http://www.breitbart.com/national-security/2017/04/28/pope-francis-warns-against-invasion-of-libertarianism/

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com

Why is North Korea Being So Unreasonable?

north-korea disarmament

On April 28, Secretary of State Rex Tillerson told the U.N. that North Korea “must dismantle its nuclear missile programs” before the US “can even consider talks.”*

Sounds reasonable.

Why hasn’t the Kim Jong-Un regime responded with open arms and shouts of joy for this generous and fair-minded proposal from Uncle Sam?

Maybe it is because North Korea not only has first-hand knowledge of US “diplomacy,” but it can point to the grisly consequences that happen to regimes that do not have nuclear capabilities when they fall out of favor with Washington war mongers.  Serbia, Afghanistan, Iraq, Libya, Syria are just some recent examples.

Nor does North Korea have to look around the globe for what the US does to nations without nuclear arsenals, but can recall events which took place not so far away.  For more than a decade, America mercilessly pulverized the little, defenseless country of Vietnam.  Despite the destruction and mass murder inflicted, it was to no avail except, of course, to line the pockets of arms manufactures while American citizens were drained of their wealth and blood.

Or simply, Kim Jong-Un can look at his nation’s own history and see how the US treated it prior to it becoming nuclear.  In the “police action” of 1950-53, American coalition forces killed over 3 million North Koreans and dropped more bombs on the country then were used on Japan in World War II according to international war crimes lawyer Christopher Black.**

And, why would North Korea or, for that matter, anyone else have any faith in diplomatic agreements with the US which consistently violates terms of international accords and often complains afterwards when agreements are reached.  The latest example is President Trump carping that Iran is not living up to the “spirit” of the nuclear deal concluded under the Obummer Administration and signed off on by six major world powers.

North Korea, as well as the rest of the world, which is not bribed or threatened by the US Deep State, is certainly aware that the two American-Iraqi Wars had their origins due to American duplicity.  While it originally gave Saddam Hussein permission to intervene in Kuwait, the US then reneged blaming the Iraqi strongman which thus laid the groundwork for his murder and the country’s destruction.

Not only can North Korea look to the murderous and duplicitous US foreign policy record, but it can point to how the American state has killed its own citizens from its involvement in the take down of the World Trade Center, to the gassing and slaughter of men, women and children at Waco, Texas.  Moreover, the federal government and now local authorities are terrorizing their citizens with increasing regularity via a number of false flag events and drills.

By all means, the Kim Jong-Un regime should come to its senses and acquiesce to US demands.

Unfortunately, because it is an authoritarian society based on the immoral and economically unworkable system of communism, North Korea is unable to make an ethical case against the hypocrisy of the US which accuses Syria and others of human rights violations, yet has allowed the slaughter of innocent babies of some 40 million since the legalization of abortion in 1973.  Moreover, in another societal-wrecking and depraved act, the US Supreme Court has sanctioned sodomy, one of the four sins that cry to heaven for vengeance.

While no single entity can militarily challenge US hegemony, a reversal of the murderous ways of American foreign policy will only come about through a change in ideology on the home front.  Once the justification for empire is debunked in the court of public opinion, the mobilization of anti-war/anti-empire movement can commence.

After generations have been inculcated by the media, public schools, colleges/universities and the government about the glories of the US military, it is unlikely that there will be any paradigm shift in American foreign policy matters anytime soon.  Only an economic collapse or severe enough financial panic will force the US to pull back on its overseas adventurism.

In the meantime, if Kim Jong-Un intends to survive and keep his country from resembling Iraq or Syria, he should maintain his “unreasonable” stance when the likes of Rex Tillerson demand that North Korea disarm.

*Tyler Durden.  “Trump Slams ‘Disrespectful’ North Korea After Unsuccessful Missile-Test, Warns Situation is ‘Bad.'”  28 April 2017. http://www.zerohedge.com/news/2017-04-28/north-korea-test-fires-another-ballistic-missile

**Christopher Black.  “North Korea: The Grand Deception Revealed.” New Eastern Outlook.  3 March 2017.   http://journal-neo.org/2017/03/13/north-korea-the-grand-deception-revealed/

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com

On the Commemoration of World War I: From Woodrow Wilson to Donald Trump

Trump - Wilson

It is altogether fitting that the US attack on a Syrian airport, the dropping of a MOAB on defenseless Afghanistan, and the potential outbreak of nuclear war with North Korea have all come in the very month one hundred years earlier that an American president led the nation on its road to empire.  President Trump’s aggressive actions and all of America’s previous imperialistic endeavors can ultimately be traced to Woodrow Wilson’s disastrous decision to bring the country into the First World War on April 6, 1917.

This month, therefore, should be one of national mourning for the decision to enter that horrific conflict changed America and, for that matter, the world for the worse.

Had the US remained neutral, the war would most likely have come to a far quicker and more politically palatable conclusion, however, the entry of America on the Entente side prolonged the conflict and extended its economic and political destruction to such a degree that the Old Order could not be put back together again.  The great dynasties (Germany, Russia, and especially Austria) were ruthlessly dismantled at the conclusion of WWI by the explicit designs of Wilson which left a power vacuum across Central Europe.  The vacuum, of course, was filled by the various collectivist “isms” which produced the landscape for another global conflagration even greater than WWI.

For America, after a brief revival of isolationism and non-interventionist sentiment throughout the land, the country, led by another ruthless and power-mad chief executive, provoked and schemed its way into the second general European war within a generation, this time via “the backdoor” with Japan.  A second US intervention, making the war global, could not have come about had there been no WWI, or if that war had ended on better terms.

After the Second World War, the US emerged as the world’s dominant power with bases across the globe and entered into a string of never ending hot and cold wars, regime changes, destabilizations, assassinations, bombings, blockades, and economic sanctions that have continued to this very day and hour.  Quickly after the war’s conclusion, the American media, academia, and the security and military industrial complex had to invent the myth that the Soviet Union and the US were of equal military might which turned out to be a blatant lie.  After being decimated in WWII and its adherence to unworkable and economic destructive socialistic planning, the Soviet Union could never produce the wealth necessary to maintain a global empire as the US did, and still does.  The “Soviet threat” was always a ruse to get gullible Americans to vote for and support greater and greater “defense” spending.

Besides Ron Paul and to a far lesser extent his son, Donald Trump was the only viable candidate who spoke of taking a new, less interventionist foreign policy which is why he was able to garner so much support from millions of empire-weary Americans during the presidential campaign.  He rightly called the Iraqi War a “disaster,” spoke of getting along with Russia, and the US’s commitment to NATO should be rethought, among other refreshing comments on foreign affairs.

In one of the most memorable and hopeful passages of his Inaugural Address, the new president championed non-intervention abroad:

We will seek friendship and goodwill with the nations of the world, but we do so with the understanding that it is the right of all nations to put their own interests first. We do not seek to impose our way of life on anyone, but rather to let it shine as an example. We will shine for everyone to follow.

Unlike Ron Paul, however, Trump had no grounding in a true America First foreign policy.  While critical of his predecessors’ foreign policy decisions, Trump was not opposed philosophically to the US Empire or saw it as the greatest threat to world peace which currently exists.

Without an ideological basis against American globalism, Trump was easy pickings against the threats and machinations of the Deep State.  Without a refutation of the ideology which drove Wilson and all of his successors to promote military adventurism abroad, Trump will be little different than his imperial predecessors and with a personality that is thin-skinned, impulsive and unpredictable, Trump could, God forbid, become another Woodrow Wilson.

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com

Donald Trump & The Passion of the Christ

                                  the-donald-christ  the-passion

If Donald Trump can somehow defeat the Wicked Witch of Chappaqua despite vote rigging, outlandish media bias, backstabbing by his own party’s elites, and opposition of Wall Street, his victory may be the most serious setback for The Establishment since, perhaps, the release of Mel Gibson’s blockbuster movie, The Passion of the Christ.

Both Gibson and Trump faced seemingly impossible odds at the start of their quests and were viciously attacked and undermined by the usual Establishment suspects, yet, in Gibson’s case, he was able to beat the bastards at their own game producing one of the most accurate and authentic Christian movies ever made which garnered over a half billion dollars and numerous cinematic awards!

Unfortunately, Mel Gibson did not parlay his enormous success and cause further aggravation for the Entertainment industry with additional non-cultural Marxist features, but fell prey to booze and the pleasures of the flesh.  Moreover, Gibson, who was once a traditional Catholic who rejects the heretical changes brought about at the Vatican II Anti-council, could have been a force in a counter insurgency to rid the Church of its current horde of apostates including its head honcho.

If Trump wins he will have completed what earlier populists, most specifically Ross Perot and Pat Buchanan, had started, but were unable to complete.  A real challenge to the two-party duopoly could have taken place had Perot and Buchanan stuck with the Reform Party and built it up as a legitimate alternative.

A Trump Presidency will, at the very least, put a temporary halt to the totalitarian liberal order’s relentless drive to render American sovereignty and create a multicultural society via mass controlled (and uncontrolled) immigration.  There would be no return from such a demographic onslaught and political realignment, at least through the ballot box, with the only alternative being secession or the emergence of a strongman who would violently suppress the Left.

A Trump victory would not only be a blow against the entrenched political class, but like Gibson’s great movie, it would be a mighty and much needed knockdown of the mass media.  No presidential candidate has ever dared to openly take on the mainstream media and expose it for what it truly is – the propaganda arm for the New World Order and the purveyors of degenerate cultural Marxism.

The protagonist in The Passion of the Christ has often been referred to as “The Prince of Peace,” which is somewhat of a misnomer.  The Christ of the Scriptures is a fighter who spends a good portion of His ministry battling and upbraiding the corrupt Church officials and hierarchy of the day who were not properly shepherding His flock.

Similarly, Donald Trump has always considered himself a fighter (counter puncher) who has promised to get rid of the corruption and criminality that pervades the political establishment, especially the Clinton cartel.  Trump is uniquely qualified for such a task because, unlike nearly every other politician, he is not beholding financially to anyone.

Most importantly, Trump will set a new course in US foreign policy which will lead to a de-escalation in tensions around the globe especially with Russia.  High praise was attributed to the peacemakers by the Author of the Beatitudes who said: “Blessed are the peacemakers: for they shall be called children of God.”

Not only for America, but a Trump victory will have positive reverberations throughout the Western world which would surpass that of the surprising Brexit vote.  European anti-immigration groups and organizations would undoubtedly become further emboldened both psychologically and financially in their struggle to stem the tide of massive unwanted and society-wrecking immigration.  There is no telling what the effect would be when the chief executive of the world’s dominant power would be in sympathy with those who have courageously sought to preserve their families, heritage and way of life from the wicked designs of the New World Order.

While Mel Gibson self destructed after the phenomenal success of the The Passion of the Christ, his movie still stands not only as an inspirational and moving cinematic masterpiece, but as a glorious blow against the Establishment.  A Trump victory could mean an even greater strike against our globalist masters.

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com/

 


 

It’s Still the Media, Stupid!

media-womd-lies

The US Presidential campaign has demonstrated once again that the mainstream mass media is still the dominant force and arbitrator of political events and if it is successful in pushing the Wicked Witch of Chappaqua past the finish line this November, it may have achieved its greatest triumph.  During the campaign’s stretch run, the mainstream media has used every form and variety of spin, distortion, half truth, calumny, and lies in its diabolical effort to make Killary Rotten Clinton President of the USSA.

The mass media – television, newspapers, movies, the Entertainment industry, book publishing, advertising, and now sports – is part of society’s opinion molding movers and shakers which form part of what Noble Prize winning economist F.A. Hayek called “intellectuals.”  This all important group are not simply nerdy academic professors with patches on their sleeves, but are those who have the ability to shape public opinion, as Hayek describes:

It is the intellectuals in this sense who decide what views and

opinions are to reach us, which facts are important enough

to be told us, and in what form and from what angle they are

to be presented.  Whether we shall ever learn of the results of the

work of the expert and the original thinker depends mainly on their

decision. *

Since at least the 1960s, the dominant opinion-molding sector of the mass media has been the electronic media, which has far outpaced newsprint and academia in influence.  While its power may be on the wane in the Internet Age, it is still the most powerful and important tool in the political elites arsenal for imparting their agenda.

The electronic media, through its use of pictures and images, has been able to manipulate political outcomes and shape public policy discussions at almost every turn.  As every media realist has long understood, the mainstream media has long been controlled by the Left which has used this power to counter any opposition to its narrative.

The major media outlets are controlled by five corporate giants – Time Warner, Disney, Rupert Murdoch’s News Corp., Bertelsmann of Germany, and Viacom – the largest purveyors of crony capitalism and cultural Marxism the world has ever witnessed.  No dissent is allowed to be heard on these outlets nor is there any hope of career advancement for journalists or writers if the Leftist paradigm is not trumpeted.

A free society does not exist because of a free press.  In fact, every society which has naively allowed a free press to exist, invariably finds that the press will seek to undermine it, especially its most innovative and successful individuals.  The reason, as Hayek so brilliantly explains, is that the press, and in this age the electronic media, is part of the intelligentsia which by its nature is envy ridden since it has little to offer the world in the production of actual goods and services.  Its members, therefore, are constantly denigrating their betters.

Such a mindset and sociological disposition will naturally lead members of the mass media to support politicians who will regulate, tax, and control the productive members of society.  This explains, in part, their vile and hysterical opposition to Donald Trump.  For Trump, unlike his crazed and corrupt opponent, has largely gained his wealth and position through his own intelligence, foresight, and hard work.

Offsetting media bias is a Herculean task and can only be done by one who is savvy and financially independent enough.  This is why Donald Trump has gotten as far has he has and has used his leverage to heroically call out the manipulations of the mainstream media.

It is surprising, therefore, that Trump agreed to the Presidential “debates” in a forum orchestrated by the media with “moderators” who would be gunning to undermine him at every turn.  Better to have chosen a neutral environment with an honest third party participant such as Brian Lamb of C-Span.  Agreeing to the same rigged debate format was a tactical mistake.

For anyone to seriously challenge the American Leviathan, it must be understood that the mainstream media is a part of that despotic structure and it too must be neutered.  Donald Trump has done more than any Presidential candidate to expose the treachery of the mainstream media, now others must take up the cause.

*F.A. Hayek, “The Intellectuals and Socialism.”  https://www.mises.org/sites/default/files/Intellectuals%20and%20Socialism_4.pdf

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com/

 

 

Don’t Expect a Return to a Gold Standard Any Time Soon

goldstandard

Despite trillions of paper currency units poured into the world economies since the start of the financial crisis, there has been no recovery, in fact, all legitimate indicators have shown worsening conditions except, of course, for the pocketbooks of the politically -connected financial elites.  Yet, despite the utter failure of the current money and banking paradigm to resolve the situation, the chance of a return to a commodity based monetary order is highly unlikely especially when one looks at the anti-gold bias found in typical college economics textbooks.

Macroeconomics: Principles, Problems and Policies by McConnell, Brue and Flynn is a leading introductory level college text which has been through, to date, some 20 editions.  Until the financial crisis of 2008, the subject of a commodity- backed money was not discussed, however, after the crisis and the popularity of gold standard enthusiasts like former Congressman and Presidential candidate Ron Paul, the authors of Macroeconomics obviously felt the need to address the resurgence in the interest of metallic money.

McConnell and company’s critique of the gold standard is full of fallacious reasoning that monetary cranks have employed for generations, all of which have been easily refuted by eminent economists.  Yet, the lies and distortions about commodity money continues in academia.

The authors admit that:

To many people, the fact that the government does

not back the currency with anything tangible seems

implausible and insecure.

This logical sentiment and realization of the fraudulent nature of unbacked currency by those outside the economics profession is brushed aside by the esteemed trio:

But the decision not to back the currency with anything tangible was made for a very good reason.

Yes, and we know what that reason was: so that the state and central banksters could have a ready and unlimited access to the creation of money to solidify and expand their power.  The gold standard was always an impediment to this cherished dream of the political elites – the establishment of an irredeemable, paper monetary order.

The authors, not surprisingly, see things differently:

If the government backed the currency with something

tangible like gold, then the supply of money would

vary with how much gold was available.  By not backing

the currency, the government avoids this constraint and

indeed receives a key freedom – the ability to provide

as much or as little money as needed to maintain the

value of money and to best suit the economic needs of

the country.

By all means, the state and central banksters should be given as much “freedom” as possible for we all know that governments would never abuse such license and would always act in the best interests of their citizens.  Certainly, the authors are not aware of any cases in history where such “freedom” was ever abused.

    Nearly all today’s economists agree that managing the

money supply is more sensible than linking it to gold or

to some other commodity whose supply might change

arbitrary and capriciously. . . .  if we used gold to back the

money supply so that gold was redeemable for money . . .

then a large increase in the nation’s gold stock as the

result of a new gold discovery might increase the money

supply too rapidly and thereby trigger rapid inflation.  Or

a long-lasting decline in gold production might reduce the

money supply to the point where recession and

unemployment resulted.

Volumes have been written debunking such stupidity.  The point, however, is that millions of minds have been exposed to such thinking and while most will not become economists (thank goodness!), what is taught in college and university classrooms about the gold standard is negative, to say the least.  Moreover, those who continue in a career in finance or economics will unlikely ever be presented with an accurate assessment of the gold standard.

A return to a sound and just monetary order will only take place after the ideological groundwork has been first laid, just as fiat money and central banking came about after years of proselytizing by inflationists.  It is also not enough to show the economic efficacy and moral soundness of commodity money, the ideas of crackpots like McConnell, Brue and Flynn need to be exposed for what they are.

Under the current academic environment, as generations have been misinformed, deceived, and lied to, it is unlikely that a return to a gold standard will take place.  Until the intellectual battle is won, paper money and the central banksters that manage it will continue their reign of financial terror.

Antonius Aquinas@AntoniusAquinas

https://antoniusaquinas.com/