Vanguard News Network

After all, it is absurd for a nation to have to pay private money lenders for the ‘privilege’ of using its own money.

Yes, it’s absurd for a “nation” to pay interest on its own money.

But the word “nation” refers to BOTH the government AND the people together, not just the government by itself.

It’s absurd that EITHER the government OR the people should be paying interest to these parasites since the money supply rightfully belongs to our nation as a whole (not the government alone and certainly not private bankers).

Money should serve as a medium of exchange and nothing more.

That was its original purpose.

It should not serve as a means of enriching oneself at everyone else’s expense, which is what the usurers have turned it into.

The Change

Ludwig Erhard won the debate. Because the Allies wanted non-Nazis in the new German government, Erhard, whose anti-Nazi views were clear, was appointed Bavarian minister of finance in 1945. In 1947 he became the director of the bizonal Office of Economic Opportunity and, in that capacity, advised U.S. General Lucius D. Clay, military governor of the U.S. zone. Erhard advocated currency reform and price decontrol. After the Soviets withdrew from the Allied Control Authority, Clay, along with his French and British counterparts, undertook a currency reform on Sunday, June 20, 1948. The basic idea was to substitute a much smaller number of deutsche marks (DM), the new legal currency, for reichs marks. The money supply would, therefore, contract substantially so that even at the controlled prices, now stated in deutsche marks, there would be fewer shortages. The currency reform was highly complex, with many people taking a substantial reduction in their net wealth. The net result was about a 93 percent contraction in the money supply.

On that same Sunday the German Bizonal Economic Council adopted, at the urging of Ludwig Erhard and against the opposition of its Social Democratic members, a price decontrol ordinance. The new law allowed and encouraged Erhard to eliminate price controls.

Erhard had a fun summer. From June through August of 1948, wrote Fred Klopstock, an economist at the Federal Reserve Bank of New York, “directive followed directive removing price, allocation, and rationing regulations.” Vegetables, fruit, eggs, and almost all manufactured goods were freed of controls. Ceiling prices on many other goods were raised substantially, and many remaining controls were no longer enforced. Erhard’s motto could have been “Don’t just sit there; undo something.”

Along with currency reform and decontrol of prices, the government also cut tax rates. A young economist named Walter Heller, who was then with the U.S. Office of Military Government in Germany and who was later to be chairman of President Kennedy’s Council of Economic Advisers, described the reforms in a 1949 article. To “remove the repressive effect of extremely high rates,” wrote Heller, “Military Government Law No. 64 cut a wide swath across the German tax system at the time of the currency reform.” The corporate income tax rate, which had ranged from 35 percent to 65 percent, was made a flat 50 percent. Although the top rate on individual income remained at 95 percent, it applied only to income above the level of DM250,000 annually. In 1946, by contrast, the Allies had taxed all income above 60,000 reichs marks (which translated into about DM6,000) at 95 percent. For the median-income German in 1950, with an annual income of a little less than DM2,400, the marginal tax rate was 18 percent. That same person, had he earned the reichs mark equivalent in 1948, would have been in an 85 percent tax bracket.

After

The effect on the German economy was electric. Wallich wrote: “The spirit of the country changed overnight. The gray, hungry, dead-looking figures wandering about the streets in their everlasting search for food came to life.”

Shops on Monday, June 21, were filled with goods as people realized that the money they sold them for would be worth much more than the old money. Walter Heller wrote that the reforms “quickly reestablished money as the preferred medium of exchange and monetary incentives as the prime mover of economic activity.”

Absenteeism also plummeted. In May 1948 workers had stayed away from their jobs for an average of 9.5 hours per week, partly because the money they worked for was not worth much and partly because they were out foraging or bartering for money. By October average absenteeism was down to 4.2 hours per week. In June 1948 the bizonal index of industrial production was at only 51 percent of its 1936 level. By December the index had risen to 78 percent of its 1936 level. In other words, industrial production had increased by over 50 percent.

Output continued to grow by leaps and bounds after 1948. By 1958 industrial production was over four times its annual rate for the six months in 1948 preceding currency reform. Industrial production per capita was over three times as high.

Because Erhard’s ideas had worked, the first chancellor of the new Federal Republic of Germany, Konrad Adenauer, appointed him as Germany’s first minister of economic affairs. He held that post until 1963 when he became chancellor himself, a post he held until 1966.

http://www.econlib.org/LIBRARY/Enc/GermanEconomicMiracle.html

SHABBOS S. SHABBAS:

“The rand quote was to point out Scipio’s plagiarism.

Please excuse me my dear sir, for I did not realize that I was required to provide a citation for three words — time, savings, production — which were typed out during an impromptu Internet discussion concerning the concept of interest. To call that “plagiarism” is a stretch, don’t you think? Besides, where’s your citation for “time value of money”? Hey, if the shoe fits…

Of course, I plead “guilty” as charged to being intimately familiar with the essay Egalitarianism & Inflation as reprinted in Philosphy: Who Needs It. I regard it as the clearest and most concise description of the most basic economic concepts that I have read to date. (However, she was obviously not the originator of any of those concepts.) And I say that having formally studied the subject for many years en route to earning a degree in economics. Having read that essay many times, the phrase “time, savings, production” as well as others remain etched in my memory.

With regard to the concept of interest, I agree with her statement that savings buys time and hence constitutes a time value of money. As an example let’s say I want to start a business. I have two ways to obtain the necessary capital: The first method is to work and accumulate the necessary funds via savings over X number of years until I have acquired a sufficient amount to start the endeavor. The second method is to find someone who is willing to advance me the capital from his savings to begin immediately. The first method takes years while the second takes only weeks. That’s the time value of money in a nutshell.

In essence, I have purchased time which is to be paid for by part of my future earnings (production). However, she leaves out of the equation the issue of risk which is an essential component of both credit and interest . Again, there is no guarantee that the enterprise in question will succeed and provide a return on the investment. If it fails, the investor loses. Obviously, this is an important factor in the process that must be taken into consideration, especially given that the vast majority of businesses fail after only five years.

Regarding Jeremy Bentham: I’m probably the only one here who would recognize that name given that I’m thoroughly schooled in the subject of Economic History & Philosophy. Jeremy Bentham, although technically not a political economist, was a disciple of Adam Smith and a member of a group calling itself the “Philosophical Radicals” which included David Ricardo and James Mill (father of John Stuart Mill.) He subscribed to the notion of “Utilitarianism” — the greatest good for the greatest number — and influenced greatly the course of political thought, including the work of many Classical Economists. I must admit that I had not read his work on usury until you posted the link. He argues that it is improper to place limits on interest rates as such and that the essential argument against usury amounts to an emotional fixation on the word itself. Given that interest rates were naturally held down by the use of honest money — specie — coupled with a Christian ethical world view which was alive and well at the time, his case could be made back then but I wonder how he would make it in this post-Christian age with its Judaic influences run amok along with fiat money being manufactured out of thin air and issued to “consumers” by the truck load coupled with credit interest rates of 30, 40 and even 50 percent?

Personally, I do not have a problem with the state capping interest rates and enacting laws that restrict the tactics of unscrupulous lenders who seek to bind unknowing customers of credit down with a crushing debt burden that can never be paid off. This is Jewish behavior that should never be tolerated! After all, we had laws in place to prevent such abuse until the inflation infested 1970’s forced the government to lift the restrictions to avoid a complete collapse of our banking institutions. Why weren’t these restrictions re-instituted after the crisis? Such tactics simply amount to loan sharking resulting in economic servitude and should be made illegal by state statute and punishable by imprisonment!

Yes, I realize this will drive certain unsavory types underground to conduct business on the black market, but certain standards of conduct need to be maintained and enforced by law to avoid what we have today: banks and credit card companies charging OUTRAGEOUS fees, often hidden, along with interest rates that bear no correlation to the risks associated with the loans in question which themselves are procured via fraud. They are charging 30% or more simply because they are permitted by law to do it. What will stop them from doubling or even tripling this rate now that it is deuces wild — anything goes?

Hell, not even the mafia demands those rates!

Consider what Bank of America instituted back in January of this year when it jacked up their interest rates on credit card holders to 27.99% across the board, regardless of credit worthiness! No, contrary to the gospel of Miss Rand, greed is not good! Such a society driven completely by the profit motive and an unsavory, insane Jew-greed will destroy itself in short order as it has been since the Jewish conquest of this nation in 1933.

I give Miss Rand credit where credit is due, however, I am not a disciple of her philosophy which I regard as nothing more than a prototypical radical Jewish intellectual movement and if taken in its entirety, constitutes nothing more than a death cult for a white nation at large. From her denunciations of “racism” as “barnyard collectivism” and her smearing of the name of Immanuel Kant as the paradigm of philosophical evil incarnate to her embrace of unfettered capitalism and unbridled greed there exists in her writings and her philosophical system at large so many deficiencies that it become obvious to any reader who isn’t living in a world of floating abstractions that it constitutes nothing more than a giant rationalization scheme for her escapist fantasies. Of course, to critique her work properly requires a treatise that is far beyond the point of this discussion.

“A state issuing non-interest fiat money is still issuing fiat money. Printing to cover expenses (in lieu of taxing) is still a form of inflation; holders of the state currency are still ripped off to the extent that the currency is adulterated.

Provided a central government issuing the fiat money is honest and correlates its issuance with the productive capacity and growth of the nation in the aggregate, no inflation would arise. However, the key word here is honest! That’s the rub, I’m afraid. And we both know the record of government. The advantage of specie is that it forces the government to conduct itself and its affairs honestly whether it wants to or not. To the extent that a government begins printing to cover its expenses in lieu of taxing, it most certainly constitutes a form of inflation (an indirect form of taxation) but which also destroys the value of savings and thus future economic growth.

Did you bother to read Wall Street and the Rise of Hitler?

The author, Antony C. Sutton, was an intelligent, honest, sincere man who was utterly clueless when it came to The Jewish Question. In fact, so grave was his inability to spot the obvious and connect the dots that he instead diverted his efforts to naming The Order of Skulls & Bones as the locus of corruption and the fountainhead of evil within the West. Sorry, but those chaps at Yale play the role of outer party to the real movers and shakers who are themselves the money masters and who rightfully must be crowned with the inner party label as such. (OOPS — am I going to be smeared as a “plagiarist” for appropriating George Orwell’s “inner and outer party” concepts? Golly gee, I hope not….better provide citations to please the critics!)

“Ludwig Erhard had to clean up the mess following WW2”

You mean the mess that the United States and England working on behalf of the Jew inflicted on the heart and soul of our beloved Europe, Germany, via a barbaric firebombing campaign of terror from the sky that reduced the nation to ruins? You seem to forget that price controls existed in every country engaged in that fratricidal war and thus to single out Germany which was engaged in a struggle for its very existence against the Jew World Order is patently ABSURD! Likewise, that article you cite is nothing more than a Judeo-Liberal propaganda trash-piece that any independent minded, well informed person would recognize. For example, check out this whopper of a LIE:

The war, along with Hitler’s scorched-earth policy, had destroyed 20 percent of all housing. Food production per capita in 1947 was only 51 percent of its level in 1938, and the official food ration set by the occupying powers varied between 1,040 and 1,550 calories per day.

Hitler’s scorched-earth policy? The article makes it sound like Hitler was to blame for bombing his own country back into the stone age! No where does the article mention the systematic murder of millions of Germans via starvation after the war as a result of the Jew-inspired Morgenthal Plan which had been implemented to appease the blood lust of Yahweh’s Chosen Vampires. Food production was intentionally held down after the war in order to starve to death as many Germans as possible. Please read the writings of the hate-crazed American Jew himself, Theodore N. Kaufman, as he sets forth the demonic plan in writing (published in 1941) how ALL Germans were to be exterminated!

Germany Must Perish: http://www.ihr.org/books/kaufman/perish.html

No doubt your next propaganda posting here on VNN will be on the blessings of Anglo-American jurisprudence and how it “cleaned up the mess” in Germany after the war, injecting badly needed “justice” in the form of the Nuremberg “trials” where perjured testimony procured by torture was used to convict and sentence to death “war criminals” for “crimes against humanity.” I’m sure your mentors — Miss Rand and Murray Rothbard — would approve!

PS: Is the following statement true or false: “The German National Socialists inherited a broken and defeated nation of 80 million with rampant unemployment, starvation and hyperinflation yet quickly transformed it into an economic powerhouse by simply suppressing its internal enemies while enacting common sense measures which unleashed the productive capacity of the nation at large.”

PSS: This thread will be leaving the front page very soon, however, I am most willing and able to continue this discussion on any topic discussed to date so stick around if you have the guts, my dear sir. Knowledge talks, bullshit walks, if you get my drift.

Scipio Americanus

SOCRATES:

Thanks for earlier follow-up — I’m not familiar with Father Charles Coughlin’s proposals on this subject so I’ll be sure to investigate the matter further.

Scipio Americanus

To be perfectly honest, I don’t give a damn about the gold standard or the fiat debate because I consider them to be peripheral issues.

I can accept the fact that many WNs legitimately disagree about matters of lesser importance such as these.

What I CAN’T accept is the ludicrous proposition that usury and privately owned (usurer-owned) banks should remain legal because these parasitic devices are the very things that have allowed the jews and their lackeys to surreptitiously enslave all of the European nations.

OLDE DOUCHE SUCKS:

For starters, Jews should not be citizens nor residents of any white nation — I think that would solve the issue once and for all. In the words of Benjamin Franklin:

“Jews, gentlemen, are Asiatics, let them be born where they will nor how many generations they are away from Asia, they will never be otherwise. Their ideas do not conform to an American’s, and will not even thou they live among us ten generations. A leopard cannot change its spots. Jews are Asiatics, are a menace to this country if permitted entrance, and should be excluded by this Constitutional Convention.”

Regarding usury, my purpose earlier in the thread was simply to identify the mechanism (fractional reserve banking) by which the Jews and their allies have exploited the system and used it against us. Again, using this fraudulent scheme called fractional reserve banking, they create money out of thin air based on capital they do not possess and then proceed to collect interest on it! In other words, it is a corruption of the banking process and not the process per se that needs to be addressed.

In the words of Thomas Jefferson:

“No one has a natural right to the trade of money lender, but he who has the money to lend. Let those then among us, who have a moneyed capital, and who prefer employing it in loans rather than otherwise, set up banks, and give cash [gold or silver] or national bills [backed entirely by gold or silver and redeemable on demand] for the notes they discount. Perhaps, to encourage them, a larger interest than is legal in the other cases might be allowed them, on the condition of their lending for short periods only.”

If you insist that the state should be the only institution to lend credit, which it doesn’t produce, then I shall so kindly remind you that centralization of credit in the hands of the state, by means of a national bank using state capital with an exclusive monopoly to issue it was the demand of a scurvy Jew by the name of Karl Marx as outlined in his Communist Manifesto of 1848!

What you and the others are now demanding is COMMUNISM so I highly suggest you take the time to read what I have written and think it over carefully — very carefully — because it is clear that you have not put much thought into this very important subject.

Scipio Americanus

“What you and the others are now demanding is COMMUNISM”

I stated at the start of this thread that the Germans got their economics from Karl Marx.

In a free economy, you are free to not use the services of the usurers. You can form your own, as outlined above. We do not have a free economy- the banks literally- have a license to steal.

Gabriel Kolko (marxist jew) wrote The Triumph of Conservatism (1963). He showed that “public interest” legislation was bought by the plutocratz, and that these folks would HIDE BEHIND THE LAW, in order to secure their own emolument. The public doesn’t know who is really behind the legislation. Peel off the AMTRAK decals, and the old Southern Pacific and Union Pacific (and others) are still there.

Lotz of non jews favor freedom.

You want an economy ruled by force? You want the government’s guns to be aimed at YOUR head? No?
Then where should the goverment aim its guns?

Quoting from a writer doesn’t mean endorsement of all their views. You learn is college to give credit, always, even if you hate the writer. You can get thrown out if you don’t. So you grit your teeth, and acknowledge the source.

The rand thing became a cult in 1958, when her lover natan blumental (“nathaniel branden”) established “nathaniel branden institute”. It exploded in 1968, when rand found out about natan’s shiksa (White) girlfriend (Patricia). By that time the whole thing was truly a cult. I met both of them.

A survey showed (1991) that, after the bible, atlas shrugged was the most influential book in America.

We are given choices- jew A or jew B. There seems to be a “prime directive” THOU SHALT BE OBSESSED WITH JEWRY.
It seems to be working right now. . .YOUY CAN LOVE THEM, YOU CAN HATE THEM, BUT THOU SHALT NOT IGNORE THEM.

Google AYN SOF for a few hours of amusement. See the actual origin of her name. She says it was inspired from a Norwegian name like Einar.. Why is rand’s name in branden? The asshole says he got it out of a phone book! His name really means BEN-RAND or SON OF RAND. . .

http://www.google.com/search?hl=en&q=ayn+sof&btnG=Google+Search

SHABBOS S. SHABAZZ:

Well, it seems we both have been influenced by jewess Ayn

I have read most of her fictional and non-fictional works as well as listened to many of the college-level courses and lectures that the ARI sponsors through its subsidiary, the Ayn Rand Bookstore, formerly known as Second Renaissance Books. I was able to procure most of the courses for pennies on the dollar from private sellers on eBay as they are terribly overpriced and hardly affordable if purchased at the retail cost. As a result, I am thoroughly acquainted with all aspects of her philosophy — metaphysics, epistemology, ethics, politics and esthetics — as well as her disciples’ interpretation of her thought. I am also familiar with George Reisman’s Capitalism (he’s a university professor of economics who was loosely associated with the ARI until he was purged from the cult for suggesting their courses and lectures were overpriced) and also an owner of his home-study program on the subject of political economy.

PS: Please excuse my belated reply — my schedule precluded me from responding sooner.

Scipio Americanus

SHABBOS S. SHABAZZ:

Maximum interest laws are price controls.

Call them what you will, but such laws reflect a set of ethical standards that any sound Aryan society should embrace and codify into law. Ultimately, moral values trump economic arguments. The entire point of capping interest rates is to prevent lenders from engaging in loan-sharking which is nothing more than a thinly guised technique designed to make the retirement of the debt so difficult as to collect payments in perpetuity from customers who are trapped by the crushing burden of interest and thus are unable to pay off the principal. Another approach to this issue would be to place limits on the length of the contractual agreement, thus making the eventual payment of principal a known certainty within a designated period of time.

Scipio Americanus

SHABBOS S. SHABAZZ:

A survey showed (1991) that, after the bible, atlas shrugged was the most influential book in America.

I find this very depressing given that it signals the beginning of the end of our civilization as it represents the triumph of the Levantine [Jewish] soul with its obsession with money-making and the accumulation of wealth over the Faustian [Western] soul’s quest for knowledge and its desire to explore and conquer the great unknown. Indeed, Atlas Shrugged raises industrialists to the level of saints and portrays the love of money as the highest of all virtues:

“To the glory of mankind, there was, for the first and only time in history, a country of MONEY and I have no higher, more reverent tribute to pay to America..

…there appeared the real maker of wealth, the greatest worker, the highest type of human being: the American industrialist.” — ATLAS $HRUGGED

Now I contend that a healthy Aryan not suffering from the Jewish-inspired spiritual petulance that has infected our civilization will respond to this passage with a feeling of disgust that emanates from deep within in his soul. It’s not an intellectual reaction but rather a visceral response to something that is alien to our race’s spirit.

Alas Shrugged is nothing more than a hymn to the insane Jew-lust greed and emotional fixation for more, more, more! Its commercial success represents the triumph of plutocratic, Jewish laden anti-values over Western, aristocratic values which our civilization was based, and will eventually culminate in the physical destruction of it.

If you want to better understand the kind of mentality that Atlas Shrugged has spawned, I refer you to an essay written by a passionate admirer of her ideas entitled The Empire of the Pursuit of Happiness by Jack Wakeland. A few snippets from this piece should suffice:

“But in America – especially after the stockholder’s rebellion of the ’80s – business leaders do not regulate company profits to ‘socialize welfare.’ They seek the highest stakes for themselves and the greatest profits for their companies. For them, nothing is ever good enough. They push for constant improvement. Theirs is a society of change, upheaval, and $100-million executive bonuses.”

“America is a supernova. As it becomes hollow at its core, here in the United States, the empire expands like a shock wave moving across the surface of the earth. It moves with the speed of the imagination – an imagination captivated by the vision of a people exercising their right to the pursuit of happiness.”

Get all that? Of course, by “pursuit of happiness” the author really means the “pursuit of money making” by ALL MEANS NECESSARY! America is praised as an “Empire” that is making “old borders irrelevant” via a globalizing “business invasion” that follows the ideas that the JewSA promulgates and which no force can stop. The author praises a “society of change, upheaval, and $100-million executive bonuses” and the “feel” that this lust for money has produced. SCARY STUFF!

Ayn Rand is correct in identifying the power of ideas as a force for change, be it for good or evil. But I contend that her ideas, especially her ethics and politics, are wholly destructive given that they ultimately flow from an alien mentality that is foreign to our own.

If I may summarize, what I have learned from her is the importance of philosophy in shaping man’s life on earth and that her particular philosophy is certainly not one for the West to embrace given it’s warped Jewish nature and its value system which is at odds with what our race instinctively admires as truly great and noble.

PS: Sir Oswald Mosley’s response to the real power governing the planet:

http://www.youtube.com/watch?v=ppZzLnRQV-o&feature=related

Scipio Americanus

OLDE DOUCHE SUCKS:

“I don’t think my opposition to pure capitalism makes me a communist. Traditional Catholics and Muslims have been preaching against usury (and other unsavory capitalistic practices) for centuries. I don’t think their opposition to pure capitalism makes them communists either.”

No, it doesn’t make you a communist but it’s troubling given that your solution to the whole mess is to reduce our standard of living to the squalor of the Middle Ages as was commonly found in traditional Catholic and Muslim societies a thousand years ago.

Sorry, but you will find it difficult to entice even a small minority of white people to support you in your endeavor given that your “solution” is tantamount to a doctor treating an infected toe nail by cutting off the entire leg!

Of course, that infection has now spread to all parts of the body given that our ancestors were too befuddled to do anything about it when they had the opportunity many years ago. Ultimately, the threat before us is not banking nor usury but a form of spiritual syphilis that has infected our political and intellectual stratum who are leading their lemmings off the cliff into oblivion.

What I CAN’T accept is the ludicrous proposition that usury and privately owned (usurer-owned) banks should remain legal because these parasitic devices are the very things that have allowed the jews and their lackeys to surreptitiously enslave all of the European nations.

The Nazis didn’t find it to be a “ludicrous proposition” and proceeded to privatize the German banking system, which had been nationalized by the corrupt Weimar regime in the late 1920’s, shortly after coming to power.

Don’t you find it rather odd that our race’s greatest advocate of the Twentieth Century took the exact opposite approach that you are now embracing?

The banks, once privatized, existed as for-profit institutions just like any other business during the years the Nazis held power.

You see, the Nazis were not stupid enough to kill the goose that laid the golden egg. They simply reigned in the most abusive practices that were deemed hostile to the nation’s interest while otherwise permitting banking and industry to function as it did before in what essentially remained a profit-driven, free market economy.

I oppose pure capitalism (usury and usurer-owned banks, in particular) because I believe it’s inconsistent with the concept of a white racialist state.

How is it inconsistent with the concept of a white racialist state given that the German National Socialists were not opposed to privately owned banks and usury and actually proceeded to privatize the German banking system that had been nationalized by the previous government? Sorry, but you have not made your case!

Scipio Americanus