Prior to the modern age, when war was engaged in, combatants, for the most part, acted by a code of conduct which attempted to minimize civilian deaths and the destruction of non-participants’ property. With the onset of the democratic age and the idea of “total war” such modes of conduct have tragically fallen by the wayside, the consequence of which has made warfare far more bloody and destructive.
The ultimate violation of “just warfare” has been the possession and use of nuclear weapons which by their very nature cannot be reconciled with any notion of a civilized society. Of all the hysteria over “terrorism,” nuclear weapons are rarely discussed anymore, but are the ultimate form of terror.
Despite the obvious fact that nuclear weapons cannot be reconciled with any moral code of warfare, Western nation-states continue to possess them and the US has actually used them in the final stages of WWII as it mercilessly bombed the Japanese civilian centers of Hiroshima and Nagasaki.
While most modern scholarship has abandoned the older idea of moral conduct in warfare, the great libertarian theorist, Murray Rothbard, continued the venerable tradition in his thought and applied it not only to nuclear weapons, but bombing as well:
Not only should there be joint disarmament
of nuclear weapons, but also of all weapons
capable of being fired massively across national
borders; in particular bombers. It is precisely
such weapons of mass destruction as the missile
and the bomber which can never be pinpoint-
targeted to avoid their use against innocent
. . . since modern air and missile weapons
cannot be pinpoint-targeted to avoid harming
civilians, their very existence must be condemned.
It is beyond hypocritical, therefore, that the US has repeatedly accused Iran of seeking to build nuclear weapons despite the fact that the nation’s leadership has consistently declared that it will not do so because of its religious beliefs. In June, President Trump called off retaliatory raids on Iranian targets after it downed a US drone (which had flown into Iranian airspace), citing that it would cost the lives of some 150 people. In response, Iran’s Foreign Minister Mohammad Javad Zarif exposed the hypocrisy of the US’s position on nuclear weapons:
You were really worried about 150 people?
How many people have you killed with a
nuclear weapon? How many generations have
you wiped out with these weapons?**
It is us who, because of our religious views,
will never pursue a nuclear weapon.
Not only has Iran’s leadership consistently declared that it would not use or build nuclear weapons, but it has stood by its words. During the Iran-Iraq War (1980-88), Iraq (with US knowledge) repeatedly used chemical weapons. Despite Iran’s protests to the U.N., it refused to take action – mainly because the US through its position on the Security Council tabled any attempt to curtail Iraq’s nefarious actions.***
Despite the flagrant violation of international law, Iran refused to retaliate, although it had the capacity and certain justification in doing so. The Ayatollah, in a religious ruling – fatwa – at the time of the war, asserted that such an act (the use of chemical/nuclear weapons) was “forbidden by god.”
This has been the position of the Ayatollahs since the formation of the Islamic Republic. Ayatollah Ali Khamenei stated that “from an ideological and fighi [Islamic jurisprudence] perspective, we consider developing nuclear weapons as unlawful. We consider using such weapons as a big sin.” A top-ranking cleric, Grand Ayatollah Yusef Saanei, confirmed that this is part of Islamic doctrine:
There is complete consensus on this issue. It is
self-evident in Islam that it is prohibited to have
nuclear bombs. It is eternal law, because the
basic function of these weapons is to kill innocent
people. This cannot be reversed.
Despite Iranian claims to the contrary, the US and the controlled press continue to mischaracterize Iran’s position on nuclear weapons. Not only has it lied, but it continues to enact crippling sanctions on the beleaguered nation causing untold suffering which itself is an act of war.
The fact that Iran follows a moral principle which was once part of Western thought shows how far the Western world, especially the US, has declined in civility. A return to a saner, more just position on nuclear weapons will only take place when there is a change in ideology. Under current intellectual conditions, such a change appears unlikely. A rethinking will only take place of necessity when America has exhausted itself through debt and money printing and can no longer sustain its Empire and nuclear capabilities.
*See, Murray N. Rothbard, For A New Liberty: The Libertarian Manifesto, 293.
**Reuters, “Iran Will Never Pursue a Nuclear Weapon, Says Foreign Minister.” 24 April 2019.
***Ted Snider, “Iran, Islam, and Banning the Bomb.” Antiwar.com 30 September 2019.
Review: Christophe Buffin de Chosal, The End of Democracy, Translated by Ryan P. Plummer. Printed in the U.S.A.: Tumblar House, 2017.
One cannot speak too highly of Christophe Buffin de Chosal’s The End of Democracy. In a fast paced, readable, yet scholarly fashion, Professor Buffin de Chosal* demolishes the ideological justification in which modern democracy rests while he describes the disastrous effects that democratic rule has had on Western societies. He explodes the myth of Democracy as a protector of individual liberty, a prerequisite for economic progress, and a promoter of the higher arts. Once Democracy is seen in this light, a far more accurate interpretation of modern history can be undertaken. The book is a very suitable companion to Hans-Hermann Hoppe’s iconoclastic take down of democracy in Democracy: The God That Failed, released at the beginning of this century. Buffin de Chosal has spoken of a follow up which will be eagerly awaited for.
The idea of rule by the people is a scam, one perpetuated by those who, in actuality, are in control of the government. Through the “democratic process” of voting and elections, a small, determined minority can impose its will despite majority opposition:
We often hear it said that ‘in a democracy,
it is the people who rule. . . .’ Rule by the
people is a myth which loses all substance
once confronted with the real practice in
Quoting from a Russian philosopher, Buffin de Chosal continues his criticism:
The best definition [of democracy] was
given by the Russian philosopher Vasily Rozanov.
‘Democracy is the system by which an
organized minority governs an unorganized
majority.’ This ‘unorganized majority’ is the
people, aggregated and individualistic,
incapable of reaction because disjointed. 
He expands upon Rozanov’s theme:
. . . [C]ontrary to what [democracy’s] principles
proclaim: one can say that the majority
almost never wins. Democracy is not the
system of the majority, but that of the most
powerful minority, and it has this power
not simply due to its numbers, but also and
above all due to its organization. 
Power does not reside in “the people” and certainly not in the individual. In democracy, the only way to express one’s preference or protect one’s rights is through the ballot box every so often. “Each voter,” writes Buffin de Chosal, “in a democracy, is the depositary of a tiny particle of sovereignty, in itself unusable. His sole power consists in dropping a ballot into a box, whereby he is immediately dispossessed of his particle of sovereignty at the profit of those who are going to represent him.” [Ibid.]
Popular democracy has always been condemned and feared by most thinkers since the beginning of human societies. It was not until intellectuals saw democracy as a way they could attain power that they began to advocate it as a system of social order. Prior to the democratic age, most of the learned understood that democracy would result in mob rule and the displacement of natural authority with demagogues. In short, the worst would rise to the top as the author describes the characteristics of a contemporary politician:
The ideal politician, on the other hand, is
pliable, convincing, and a liar by instinct. He is
not attached to any platform and has no
ideological objective. The single thing to which
he is truly committed is power. He wants its
prestige and advantages, and seeks above all
to be personally enriched by it. Any politician
who presents this aspect is recognized as fit for
power in a democracy. . . . It is therefore not
surprising that democratically elected assemblies
are almost exclusively comprised of
these kinds of men and women. Elected
heads of state almost always fit this profile,
and international institutions, such as the
European Union, consider it the only
acceptable profile. . . . 
Democracy and the State
Since the advent of modern democracy, the principle benefactor of its rule has been the State and the politically-connected financial elites who are in actuality the true rulers of societies. Instead of putting an end to the supposedly despotic rule of the Ancien Régime, which Democracy’s proponents claim to have existed throughout the monarchial and aristocratic age, governance by the people, has instead witnessed an increase in state power and control of individual lives to an unprecedented level in human history. Few, if any, pope, emperor, king, prince, or duke have ever possessed such suzerainty.
In contrast to what has been taught in classrooms, on university campuses, and espoused throughout the media, individual rights and freedoms were far better guarded in the age prior to Democracy’s ascendancy. Pre-revolutionary Europe had social structures which insulated individuals from State power far more effectively than under modern democracy:
The concept of an organic society was abolished at
the time of the French Revolution. The corps and
orders were suppressed, the privileges were abolished,
and everything which allowed the people to protect
themselves from the power of the state was banished
in the name of liberty. 
And in return for giving up the order that protected them from state depredations, the people received “sovereignty:”
They were given the false promise that they
would no longer need to defend themselves
from the state since they themselves were the
state. But if a people organized into corps and
orders are incapable of exercising sovereignty,
how much more so a people comprising a formless
mass of individuals! [Ibid.]
Historically, all of the democratic movements which supposedly stemmed from the people were, in fact, a falsehood, perpetuated largely by revolutionaries who sought to replace the established order with themselves. While legislatures, congresses, and democratic bodies of all sorts have been interpreted as the fruition of the masses’ desire for representation, the reality was quite different:
Democracy is not, in its origin, a system of
the people. In England with the advent of the
parliamentary system just as in France during the
Revolution, it was not the people who were seen
at work. Even the Russian Revolution was not a
phenomenon of the people. To regard the people
or what the communist elegantly call the ‘masses’
as the agent of change or political upheaval is purely
a theoretical view, a historical myth, of which
one sees no trace in reality. The ‘people’ were
the pretext, the dupes, and almost always the
victims of the revolutions, not the engines. 
Not only was propagation of the myth of popular support for democratic ideals propounded for the survival of the new social order, but putting these tenets into practice was accomplished, in large part, by the role of the “intellectual” an often neglected feature of standard historical analysis and the reason behind much social transformation:
The ‘nation’ met the desires of the philosophers
who wanted to transfer power from the monarch
to an enlightened, philosophical, and philanthropic
class who, moreover, ought to be financially
comfortable. The educated bourgeoisie of the
time were the protagonists of this idea, and a
portion of the nobility formed their audience. [13-14]
The intellectuals promoted Democracy because it would open up for them considerable opportunities for position and income in the nation state. It must be remembered that it was the intellectuals who justified the idea of Absolutism. Later, the intellectuals turned on the monarchies and sided with the emerging republican classes rightly believing that democratic governance would give them greater opportunities for power in the emerging nation states.
Democracy and Modern History
While most historians see the advancement of democracy and the development of legislative bodies over the course of the last centuries as an advancement in the human condition and one that has emanated from the people’s desire for greater political representation, Buffin de Chosal presents a far different and more accurate interpretation. “Democracy,” he asserts, “is not, in its origin a system of the people.”  All of the social movements which eventually led to the destruction of Christendom did not come from the people seeking a greater “voice” in their governance.
“The ‘people,’” he argues, “were the pretext, the dupes, and almost always the victims of the revolutions, not the engines.” [Ibid.] Liberty, Equality and Fraternity was not a popular cry, but one coined and used by the “enlightened” classes to mobilize and justify their overthrow of the French monarchy and with it the destruction of the Church.
The French Revolution was built on the
idea of the ‘nation,’ which claimed to bring
together the intellectual, social, and financial
elite of the country. It was on this foundation
that democracy was established and that it
functioned during almost all of the nineteenth
A similar historical narrative can be seen in England.
The rise and eventual triumph of representative democracy in England was not one that percolated from the masses itching for more freedom. “The appearance of the parliamentary system in England,” Buffin de Chosal contends, “was tied to the great movement of Church property confiscation begun under Henry VIII and continuing until the coming of the Stuarts.” 
After Henry gorged himself on the Church’s wealth, he sought to bribe as much of the nobility as possible with his ill-gotten gains to insure his power. An envious Parliament, however, wanted its cut of the loot which led to the great internecine struggle between Crown and Parliament which eventually ended in the suzerainty of the latter with the Glorious Revolution of 1688. The real power from then on rested with an oligarchical legislative branch:
The families who had thus helped themselves
to the Church’s goods, morally justified by
Protestant ethics, formed the gentry, the class
of landowners who sat in Parliament. Parliament
was not then, as one might believe today, an organ
of poplar representation. It was an instrument
in the hands of the gentry to defend its own class
That Parliament and the monarchy would become the two dominant ruling structures was the result of the breakdown of the feudal structure which was taking place not only in England, but across Europe. European monarchs continued to gain more and more power at the expense of the feudal landed elite. The gentry’s power and wealth was also on the wane with the rise of commercial centers which most of the time aligned themselves first with the kings and then later with Parliament. The eventual triumph of Parliament, however, did not mean greater democracy for the people:
The financial incentives for England’s adoption
of the Protestant Reformation are therefore
intimately connected with the bolstering of
Parliamentary power. The Parliament in England
was used to put the monarchy in check and to
replace it with an oligarchic class of wealthy
Protestants to whom the kings were required to
submit. This is why the overthrow of James II
in 1688 was a true revolution. It was not a
popular revolution or the overthrowing of a
tyranny, but it was the rebellion of a class
implementing the transfer of sovereign power
for its own profit. 
The Market Economy
The author takes a refreshing look at the market economy that sets straight the inaccurate and often times hostile analysis of it that frequently comes from conservative circles. He distinguishes and rightly points out that “pure capitalism” or the “unhampered market” is an “excellent thing” . The free market is intimately tied with private property which is a prerequisite for a just society:
[Capitalism] proceeds from respect for private property.
As capitalism is the reinvestment or saved money for the
purpose of making new profits, it presupposes respect for
property rights and free enterprise. It has existed in Europe
since the Middle Ages and has contributed significantly to
the development of Western society. [Ibid.]
He insightfully notes that “bad capitalism” often gets lumped in with its “good form” while the latter gets the blame for the baneful excesses of the former. “Monopoly capitalism,” “corporatism,” “the mixed economy,” and “crony capitalism” are not the result of the market process, but stem from “intervention” brought about by the State in favor of its business favorites through participatory democracy. In a truly free market, entrenched wealth is rarely maintained but is constantly subjected to challenges by competitors:
But what one ought to designate as bad
capitalism is the concentration of wealth and
power this wealth procures. This danger does
not stem from capitalism itself but rather from
parliamentary democracy, for it is democracy
that enables money powers to dominate the
political realm. [Ibid.]
The “monied interest” did not exist under “traditional monarchy,” but was a product of Democracy and the protection and extension of the “bad capitalistic” paradigm that came into being and was expanded by the rise of popular representative bodies. Assemblies, legislatures, and congresses, which emerged, became aligned with the banking and financial interests to bring about the downfall of the monarchies.
The concentration of political power could only be attained after the control of money and credit were centralized in the form of central banking and the gold standard was eliminated. Central banks have been an instrumental part of the democratic age, funding the nation state’s initiatives and enriching the politically- tied financial elites at the expense of everyone else.
Wealth concentration is not a by-product of the free market. Rarely are firms able to maintain their dominance for long periods of time. Many turn to the State to get protection and monopoly grants to ensure their position in the economy:
. . . capitalism only becomes harmful when
it grants political power to the money powers.
This was only made possible thanks to the advent
of parliamentary democracy, which was an
invention of liberalism. It is therefore the
foundational principles of political liberalism
(equality before the law, suppression of privileges,
centralization of political power, censitary suffrage,
and the accountability of ministers to the legislative
houses) which have enabled the rise of a wealthy class
and its power over society. 
Such sound economic analysis abounds throughout his tome.
The author rightly sees that because of its nature and the type of personalities that it attracts, modern democracy cannot reform itself, but will eventually collapse from financial stress, war, and/or civil strife:
Parliamentary democracy rarely produces true
statesmen, as its party system more often
promotes ambitious and self-interested persons,
demagogues, and even communication experts.
These are generally superficial and egocentric
individuals with a very limited understanding
of society and man. These politicians do not
have the makings of statesmen. They are
adventurers who use the state to satiate their
hunger for power and money or to benefit
their party. 
Efforts to reform it, however, should not be totally dismissed since they could lead to more fundamental change and ultimately the creation of a new political paradigm for Western governance. Populism and the various movements around the globe which fall into that category should be encouraged. Populism, because of is lack of definite ideological underpinnings, has meant different things at different times to different people. Most populists, however, do not want to get rid of democratic forms of government, but want the system to be more “responsive” of its constituents instead of favoring entrenched political elites. Populism is a symptom of the growing failure of modern democracy’s inability to “deliver the goods” that it promises to a now growing dependency class.
As a means of getting rid of totalitarian democracy, populist movements and themes should always be encouraged:
In Europe, the only political forces today
which could, in the more extreme of circumstances
assume this rescue role are found on the side of
populism. Conservative in its values, sometimes
classically liberal when it is a matter of opposing
the stifling interventionism of the state, and yet ready
to defend social gains . . . populism is the only
political current which comes to the defense of
those interests of the population denied or ignored
by the parties in power. 
Populist parties, from the simple fact that they
can bring together voters from both the left
and the right, have a chance of coming to power
in the near enough future. The deterioration of
security conditions in Europe due to mass
immigration plays in their favor. [148-49]
While he does not explicitly discuss it, a more concrete and ideological coherent idea and one of historical precedent, is that of secession. For all those who oppose the democratic order, secession is the most justifiable, logical, and practical strategy for the dissolution of the nation state. Secession movements, therefore, whether they do not outwardly condemn parliamentary democracy and only seek to establish a “better run” system, should always be supported.
The most likely scenario if there is to be a change in Western democratic life will be from a world-wide economic crisis and collapse of the financial system which will render the nation states unable to meet their financial obligations to their citizens. All economies are hopelessly indebted from their welfare state excesses and can never hope to meet their promises which now runs in the trillions. What will emerge in the aftermath of a collapse is hard to predict, but some form of authoritarianism is likely which will be centered on a one-world state with a single, irredeemable currency.
While the financial demise of Western-styled democracy will be evident for all to see, its ideological underpinnings which have justified its existence needs to be extirpated. Any hope of it being reconstituted to better serve “the people” needs to be shot down. There is no better place to start the de-mystification of Democracy than with Christophe Buffin de Chosal’s magnificent, The End of Democracy.
*Professor Christophe Buffin de Chosal teaches economic history at the United Business Institutes.
Two recent articles* have again demonstrated that the greatest “terrorist” entity on earth is not the bogymen – Russia, China, Iran, North Korea – so often portrayed by Western presstitudes and the American government, but the United States itself! Ever since World War II, the US has been the most militaristic, far surpassing all of the Communist and dictatorial regimes combined.
Some startling and rarely reported facts:
Currently, the US drops on someone or something a deadly explosive once every12 minutes
W. Bush’s military dropped 70,000 bombs on five different nations during his murderous regime
Nobel Peace Prize recipient, Barrack Obomber, launched 100,000 bombs on seven countries
Funding this mass murder is a reportedly $21 trillion (!) that is unaccounted for in the Pentagon’s coffers
Despite all of the “America First” bluster at the start of the Trump Administration, little has changed but, in fact, things have escalated. While G.W. Bush in his wicked eight years dropped over 24 bombs per day and his successor upped that total to 34 bombs per day, the current Bomber-in-Chief has, in his first year in office, averaged 121 bombs per day! For the initial year of his Presidency, 44,000 bombs were dropped on people and lands despite the fact that the US is not officially at war with a single country!
Despite these grisly statistics, which are hardly ever reported by the mainstream press, the military industrial complex and the controlled Western media outlets have propagated the lie of “precision bombing.” Precision bombing has been trumpeted to minimize the effect of US aggression to the public that only true belligerents are targeted and not innocents.
When US bombing is reported by the press, the actual casualties and property damage are never accurately given. The most notorious example of this mendacity was the coverage of Bush II’s Iraq war. “The US and its allies ruthlessly carpet-bombed Iraq,” a UN report acknowledged, “reducing it from ‘a rather highly urbanized and mechanized society’ to a ‘pre-industrial age nation.’”
Later accounts of what actually happened showed that “only seven percent of the 88,500 tons of bombs and missiles devastating Iraq were ‘precision weapons.’”
Yet, it is hypocritical US policy makers that call certain regimes “rogue” and/or “terrorist” while their own defense budget is set at $700 billion to increase next year by $16 billion. Yes, more taxes extorted from the public for the pulverization of peoples and their homes across the globe!
Even if these statistics were of common knowledge, do not look for things to change. The majority of the American public loves its military and government and has been conditioned to overlook and accept nearly all of its military engagements and the propaganda that attempts to justify them.
What must change is ideology which, at one time, was strongly anti-interventionist, but gradually became pro-war. Through education, the press, books, and the electronic media, the intelligentsia was able to manipulate public opinion. Americans began to glorify war under the guise of spreading democracy and “freedom” to everyone, whether they wanted it or not.
Under current ideological conditions, a reversal of thinking to a non-interventionist foreign policy is not likely. The only way that the nation’s rampaging foreign policy will be checked is through an economic collapse or a severe dollar crisis, the latter of which would end the greenback’s status as the world’s reserve currency.
If America no longer has the means to fund its military around the world, its imperialism will quickly come to an end. It is extremely burdensome on a domestic economy to maintain a global empire and one that is actively engaged in costly military operations. If the nation’s economy severely contracts or the dollar can no longer be printed with impunity, the bombing of other peoples and political involvement in overseas affairs would have to cease, or be drastically curtailed. A historical example of this is Great Britain after WWII.
As it stands now, only financial calamity will bring down the world’s foremost terrorist state. If such a scenario comes about, the US may become the recipient of the destruction, loss of life, and mayhem it has unleashed upon the world.
A couple of recent articles have once more made the case, at least implicitly, for political decentralization as the only viable path which will begin to solve the seemingly insurmountable political, economic, and social crises which the Western world now faces.
In the last few months, over 3,000 millionaires have fled the hopelessly corrupt and bankrupt state of Illinois. When asked, 47% of Illinoisans would like to leave the state which, over the last decade, has seen over a half million of its residents flee. Naturally, this exodus has exacerbated the Land of Lincoln’s financial straits to catastrophic levels.*
A report published by the American Legislative Exchange Council predicted that the tax flight which is occurring in Illinois will similarly take place in the coming years in high-tax blue states such as California and New York. The 2017 Trump tax reform will accelerate this process since under the new legislation the amount of state income tax that can be deducted on federal tax returns has been capped at $10,000 per family. The authors of the report wrote: “. . . high [income] earners in places with hefty income taxes – not just California and New York, but also Minnesota and New Jersey – will bear more of the true cost of their state government.”**
The not too subtle consequences of the new tax code will mean an even greater exodus of taxpayers out of blue states which will shrink state revenues even further and create job losses across the board.
While those who want to escape the crushing burden of individual state taxation and regulation, if they have the means and desire to do so, can move to more favorable climes, no such option exists (except the drastic step of expatriation) to escape federal tyranny. Yet, the same benefits which occur from a multiple of individual states and jurisdictions would be present if the various nation states which dominate the globe were broken up into smaller political units.
While the authors of the cited articles see the advantage that multiple states have where one can “vote with his feet,” the same logic can be applied to central governments across the planet who are, on the whole, more tyrannical than local jurisdictions. More political bodies would not only provide sanctuary for the oppressed, but it would tend to keep a check on tyranny among existing states.
Political decentralization is a far greater deterrent to government largesse than constitutions, elections, or finding the “right person” to “fix things.” The events of the last few weeks in the realm of US foreign policy once again demonstrate that trusting candidates to fulfill campaign promises is naive, to say the least.
To get to this goal, all and every secession movement, even of a Leftist bent, should be supported, whether they are nations that want to “exit” from larger political units, such as Great Britain from the EU, or within nation states themselves such as California in the US. All should be encouraged.
Of course, the case for decentralization has to be made on ideological grounds. The Left, most likely, will not be a natural ally for secession, nor are conservatives, most of whom are under the spell of “nationalism” and “restoring the Republic.” Yet, the Right offers the best opportunity to build a secession movement and needs to be convinced that the preservation of the nation state will only lead to the complete triumph of liberalism.
Secession would also necessitate the breakup of the nation-state’s monopoly of money and banking. Numerous political divisions would be more likely to adopt a single monetary unit – gold – which would guarantee financial stability rather than the debt ridden paper-money system now in place.
Next to the outbreak of World War III, immigration is the greatest threat to what remains of Western Civilization. Smaller political units would be far better to control their borders than reliance on a central authority which can be easily manipulated from outside agents.
The solution to the myriad of social and economic problems that confront Western societies will not come about from a “reform” of the nation state, but through its dissolution. Only through a world made up of hundreds, if not thousands, of Lichtensteins, Hong Kongs, Monacos, confederacies, free cities, etc., will these crises be hoped to be resolved.
**Robert Frank. “800,000 People Are About to Flee New York and California Because of Taxes, Say Economists.” CNBC.com. 26 April 2018. https://www.cnbc.com/2018/04/26/800000-people-are-about-to-flee-new-york-california-because-of-taxes.html?__source=sharebar|twitter&par=sharebar
The recent hullabaloo among President Trump’s top monetary officials about the Administration’s “dollar policy” is just the start of what will likely be the first of many contradictory pronoucements and reversals which will take place in the coming months/years as the world’s reserve currency continues to be compromised. So far, the Greenback has had its worst start since 1987, the year of a major stock market reset.
The brief firestorm was set off by Treasury Secretary Steven Mnuchin who said in response to the dollar’s recent slide, “Obviously, a weaker dollar is good for us, it’s good because it has to do with trade and opportunities.”* Mnuchin backtracked a bit as international financial leaders criticized the apparent shift in policy while Administration officials sought to clarify the Secretary’s remarks. President Trump weighted in on the matter saying, “Ultimately, I want to see a strong dollar” and added that Mnuchin’s comments were “taken out of context.”
While President Trump sought to allay jittery currency markets that monetary policy had not changed, candidate Trump supported the Federal Reserve’s suppression of interest rates and did not want to see a rising dollar:
I must be honest, I’m a low interest rate
person. If we raise rates and if the
dollar starts getting too strong, we’re going
to have some very major problems.**
Of course, the entire uproar about a strong dollar versus weak dollar is a sham. When the dollar (and for that matter all other national currencies) cannot be redeemed for either gold or silver, it is inherently “weak” and ultimately worthless. That this obvious fact is not recognized by the Trump Administration, international monetary authorities, and the financial press demonstrates just how unstable the dollar and world currencies actually are.
If President Trump truly wants to see a strong dollar that will become a linchpin in “making America great again,” he should enact policies that will return the dollar to its original function – a warehouse receipt that can be redeemed for precious metals. Just as important, an authentic strong dollar policy would mean that no dollar can be created that did not have “an equal amount” of gold/silver in bank vaults – in essence a 100% gold dollar. These two acts would guarantee a strong dollar and insure that the dollar would remain the world’s reserve currency. Moreover, a fully redeemable dollar would likely lead to other nations adopting similar measures.
A gold-backed dollar would also head off China’s not too subtle attempt at replacement of the Greenback with the Yuan as the world’s reserve currency. Its “Belt & Road Initiative,” its massive accumulation of gold, and other actions are all aimed at making the Yuan the dominant world currency which, if successful, will have catastrophic financial repercussions for the US and Western Europe.
Gold-backed money will not only have positive international effects, but domestic benefits as well. Crippling price inflation that has been intentionally under reported by government statistics will be a thing of the past. Prices in a gold-backed currency will actually fall, raising living standards for everyone.
Without the ability of the Federal Reserve to create money out of thin air, the massive federal budget deficits would have to be dealt with. And, without the Fed’s purchasing of US debt, the government would be forced to make cuts in spending. Spending cuts would have to be deep and across the board.
Happily, under such a scenario, reduction in spending would mean a pull back in the American Empire. The US would simply not have the resources to maintain bases abroad or involve itself in the countless conflicts and wars it is now engaged in. It is more likely that when the American Empire comes to an end, it will not be because of a military defeat, but because it can no longer be sustained financially.
Sadly, under current ideological conditions, a return to gold money is not on the financial horizon. It will most likely take a collapse of the irredeemable paper monetary system before commodity-backed money is re-established as a general medium of exchange.
It is clear from the recent exchange among Trump Administration financial officers that the same dollar policy will continue, which will lead to an inevitable dollar crisis and certain political disaster for the President.
It is altogether fitting that crypto currencies, in particular Bitcoin, have witnessed a meteoric rise in this illusionary age. Not only has their monetary value gone to dizzying heights, but they are now being touted as the destroyer of the current, crumbling monetary order and the next paradigm upon which a new money and banking system will emerge.
In an era where sacrifice, hard work, loyalty, ingenuity, tradition, and independent thought are considered anathemas, while affirmative action, sloth, effeminacy, office seeking, and something-for-nothing schemes are endemic in every walk of life, it is not surprising that non-tangible, computer-generated currencies would become a “natural” feature of such a world.
While it has always been a haven for charlatans, traitors, cheats, thieves, liars, and serial adulterers, contemporary political life has become even more of a sham. The most glaring example of politics’ utter corruption can be seen in the recent departed chief executive officer of the US. Unless one abandons all critical thinking, Obummer was unqualified to be president because of the obvious fact that he was not born on American soil. Not only did this disqualify him, but his educational and professional backgrounds have not been verified. Neither his collegiate records nor his supposed teaching career at the University of Chicago Law School have ever been exposed to public scrutiny. From the few utterances he has made about his supposed specialty – constitutional law – it appears that he has only a rudimentary knowledge of the subject.
Cultural life has descended to the basest of levels and has abandoned nearly all of Western Civilization’s glorious achievements. Consider music. The dominant form of what passes as music today is not the works of the great maestros of the past – Bach, Mozart, Beethoven – but instead, noise in the form of rock, hip hop, rap, grunge, or whatever the latest degenerate trend is in vogue.
Modern democracy is also a fallacy. Being sold to the masses as a system where the people rule and personal liberties are guaranteed, democratic governance is anything but, and has instead been craftily used by the elites to amass state power to an unprecedented extent not witnessed in human history. The much maligned monarchial age even during its “absolutist phase” could not come close to the scope and intrusiveness that democratic governments possess today.
Religion, too, is not immune from its share of hypocrisy. Not only is the supposed head of the Catholic Church a manifest heretic who almost daily blasphemies the Divine Majesty, but he is not qualified to occupy the august chair in which he sits. Jorge Bergoglio was neither ordained as a priest nor consecrated as a bishop in the traditional, Apostolic rite of Holy Orders. He is, therefore, an imposter not a priest, nor the bishop of Rome, and scandalously not a true pope.
Now enter crypto currencies. Not only will they never become money – a general medium of exchange – as gold and silver once were and will become once again, but cryptos lack the necessary requirements to be money. Yet, their “development” is systematic of the times. Cryptos are another variant of fiat currencies which digitally can be created by a stroke of a computer key or in cryptos’ case, a code.
Gold and silver – real money – must be mined from the ground, minted and “marketed” before they can be used to facilitate exchange. This is an arduous, capital-intensive process which takes resources, labor, and time to accomplish. Something as important as money should require an elaborate procedure not be created out of thin air as are all fiat currencies as well as cryptos.
Money must originate as a tangible, sought-after commodity – the great Misesian insight that crypto enthusiasts do not know or do not understand – then, over time, be recognized as having a “second feature” as a good sought after for “exchange value.” Once a good is demanded for its use primarily to facilitate exchange, it then becomes a “money.”
In a fundamental sense, crypto currency cultists are rebelling against the natural order of things. The precious metals were created in their quantity and quality by Divine Wisdom for a purpose – to act as money. While governments have habitually corrupted the monetary order through coin clipping, fractional-reserve banking, and other nefarious schemes, it does not undo this primordial fact. It is for the intellectually honest opponents of monetary chicanery to point this out and decry all governments and banksters’ attempts to eradicate gold and silver as money, not attempt to create another unnatural and false monetary order that mirrors the current fiat system.
Money, like all other institutions of society, will reflect its belief system. Decaying cultures will most likely have debased monetary units. A turnabout in the status of money will only happen when Western Civilization returns to what money is – gold and silver – and abstains from trying to create illusions of it through computer software schemes.
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!