Praise the deposit. If only one thing in this world is to be guaranteed, let it be the holy financial instrument that is the commercial bank deposit. — Prayer 3:23, The Book of State-Banking

 

In recent years, the above prayer has been answered by the oh-so-benevolent monetary authorities of the West — we were ‘saved’ by the self-sacrificial debauchery of Western central banks. Alas, the commercial banker that owed what wasn’t his’n, wasn’t faced with the unappetizing prospect of buying it back or going to pris’n! Consequently, the question that repeatedly presents itself is: ‘Who got stiffed then?’ continue reading »

It would seem that words scarcely keep their original forms once they enter the realm of the herd. The crowd, drunk on the democratically affirmed power of consensual opinion, seeks to twist terminology so as to justify its prejudices with immediate and unthinking effect. ‘You’re a capitalist’, they say, ‘so surely you’re a proponent of the current failed system!’ ‘I’m a capitalist’, some proclaim, ‘and so I obviously believe in a centrally planned monetary system of course!’. Here I quote a telling passage from Gustav Le Bon’s book; The Crowd: A Study of the Popular Mind.

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