The Phaserl


Government of the People, by the People, for the People. NOT.

by Michael S. Rozeff, Lew Rockwell:

The U.S. government is certainly NOT of the people, NOT by the people, and NOT for the people. In the vernacular of the day, what do we have? Government of the People, by the People, for the People. NOT.

I submit that the people or peoples that inhabit a certain portion of North America known as America did not overthrow the government of Iran in 1953. They did not direct themselves into the Vietnam War. They did not decide to bomb Serbia, starve the people of Iraq, and later invade Iraq. They didn’t decide to debase the dollar. They did not devise or pass Obamacare. They did not decide to bail out Wall Street investment bankers or hedge funds. They did not decide to militarize America’s police. They did not decide to have a war on drugs with stiff prison sentences. They didn’t decide to have a war on poverty. They didn’t decide to have a massive NSA program of surveillance and spying on themselves and the rest of the world and then to keep it secret from themselves. A certain number of Americans may have been polled and their positive, negative and ambiguous opinions sounded out on some of these actions, but the People certainly didn’t make these decisions and many other important decisions.

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4 comments to Government of the People, by the People, for the People. NOT.

  • rich

    Granny’s ‘Irrational’ Gold Obsession Is Wholly Rational

    In an unbelievably condescending article in Bloomberg, fittingly titled, “Granny’s Gold Bars Are Key to Vietnam Push to Boost Dong”, the unstated author gives this game away. “Granny” doesn’t want to give up gold because of experience, including recent experience, of high inflation and devaluation. Should Granny just sign up for the poorhouse because the Vietnamese central bank wishes to “defend” the dong via financial engineering? Might Granny’s irrational obsession with gold, as the article tries to portray, be actually rational self-interest lying beyond the grasp of conventional economic theory’s own self-obsession with socialized economics? The central bank has been bitten by the Gold Bug, not Granny.

    If the dong was “worth” what its central bank believes, they should have no trouble with Gresham’s Law confirming as much. But “they” care not about value or even Granny, only the ability to control the financial destiny of their own system – socialized economics over individual rational self-interest.

    What is true in Vietnam today is equally comparable to every developed nation under the thumb of central bank unilateralism. To this even Bernanke admitted the appeal of gold against “extreme events”, which fully contrasts with his puzzlement. But where this partially reconciles in the modern economic canon is that he trusts his own abilities to perform as central planner, while discounting that so many may not (he has a Princeton pedigree, after all). In the conventional narrative where gold is a misunderstood asset class, the Federal Reserve is populated by heroes that saved us from the mess of banking and free markets.

    We know better, as banking has not been about free markets in a long time, most certainly under the interest rate targeting schematic, and the desperate crises that continually roil into volatility are the handiwork of unilateral management of fiat without competition. If gold was actually money today, paper dollars would have been spent into oblivion.

    • NaySayer

      People who have lived through war and economic chaos cannot be propagandized into giving up gold and silver.

      Grandma in this article lived through the vietnam war and the horror that followed when the u.s. pulled out and let those people who survived then be punished for surviving by the communists.

      Some people only got on boats (boat people) because they had a gold coin or a gold crown they could pull out of their mouths.

  • daf

    If you asked a class of students that they just need to define what a govt is for. And if they get it correct, they get an automatic B+ minimum for the rest of the class. I wonder how many of them will get it right…

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