Saturday, October 5, 2013

A comment I wrote

 in response to a post by Joseph Pearce at St. Austin Review (The Ink Desk):

As long as a government borrows its country's money into existence as an interest-bearing debt, that government is not answerable to its people but only to those from whom it borrows.

Government is too big, yes - but government is also not exercising the sovereign power that is proper to it. That's the paradox of why government is too big.

The power and constitutional right of government to issue its own money, debt free, to the good produced, for the common good, and transparently controlling its quantity, is a power that makes a government vulnerable (and answerable) to its people.

But the government only answers to its financiers - the banks from whom it borrows at compounding interest.

As long as a government is allowed to borrow, it will be as big and ruthless as those that finance it.

You want smaller government, then let's start talking about outlawing government from borrowing and outlawing fractional reserve lending (which is really only counterfeiting); and let's talk about having the government issue its own currency, debt free, to the good produced, for the common good.

Somewhat unrelated: while I believe we need economists, absolutely need economists, I do not believe that seeing the problems and solutions of the global economy requires one to be an economist. In fact, the notion of having to refer to experts on the economy when talking about the problems and solutions of the economy is a very, very, very recent aberration. The debt slavery of today is so vastly woven that schools exist to convince us that the root cause of the problem is so absolute, so real, so untouchable, so the opposite of a lie, that we need to make ourselves as complex - and ever more complex - as the webs that have been spun.

No comments: