We are on the road to serfdom

Road

We are now five years into the Great Fiat Money Endgame and our freedom is increasingly under attack from the state, liberty’s eternal enemy. It is true that by any realistic measure most states today are heading for bankruptcy. But it would be wrong to assume that ‘austerity’ policies must now lead to a diminishing of government influence and a shrinking of state power. The opposite is true: The state asserts itself more forcefully in the economy, and the political class feels licensed by the crisis to abandon whatever … [Read more...]

What is the correct size and proper function of the state?

Signing of the Constitution of the United States

This is a question that was posted to me by a journalist who has read my book and is following this website. He suggested I make it into a blog. This essay is not directly about the fiat money crisis so it might at first look a bit "off message", but I guess for everyone who has read Paper Money Collapse and has been reading this website, the connections are obvious enough. This is a big, big topic, and probably too ambitious for any single essay. Although the following is fairly long even by the standards of this website, … [Read more...]

Deceits and delusions – Some thoughts on the euro-crisis and democracy

Eurotower In Frankfurt

Anybody with any knowledge of economics should feel uneasy at the sight of a country where half of recorded economic activity is conducted by the state. Are such semi-socialist societies operable, and if so, for how long? That complete socialism is impossible and that any attempt to establish it must fail, we know for sure since Ludwig von Mises explained it in detail in 1922 with his masterly Die Gemeinwirtschaft (Socialism). The only reasons that the Soviet Union did not collapse earlier but managed to drag out its … [Read more...]

What should Obama do? – Interview with Detlev on ValueWalk.com

Picture of Detlev Schlichter

Jacob Wolinsky of the US website ValueWalk.com conducted an extensive interview with me that covered a wide range of topics, from my own background and the appeal of Austrian School Economics to what I think Obama and Bernanke should do. You can read it here or here. … [Read more...]

The Inconvenient Truth about Sovereign Debt

Panthenon

The efforts of our political leaders to socialize the fallout from the financial crisis by means of the balance sheets of the government and the central bank, and to thereby sustain an illusion of normalcy, have guaranteed that the financial crisis is now morphing into a sovereign debt crisis - a process that is unfolding at different speeds globally but that in many places is well advanced already. On a long enough time line, everywhere is Greece. Crises clarify things. When the cash runs out and the chimera of harmony and … [Read more...]

The Paper Bureaucracy

Picture of Gordon Brown

Gordon Brown as the next head of the IMF? What a splendid idea - at least as long as Charlie Sheen is not available. No seriously, the despicable, interventionist IMF and the unpopular etatist Brown - a perfect match --perfect, I hope for further discrediting the global paper money bureaucracy, the new political elite lording it over us at our expense, the guys who brought you the crisis and now promise to fix everything - with more paper money and more debt and more policy interventions. Here is a man who was never … [Read more...]

Middle East, Part Two: Capitalism, Democracy and the Mirage of Human ‘Rights’

Two groups debating

"The state? What is that? Well then! Now open your ears for me, for now I say to you my word about the death of peoples. State is the name of the coldest of all cold monsters. Coldly it tells lies; and this lie crawls out of its mouth: 'I, the state, am the people.'" Friedrich Nietzsche, Thus Spoke Zarathustra What shall we make of the mass rioting in the Middle East? As an anti-state libertarian I obviously rejoice whenever I see the people shake off the shackles of state power. I see an opportunity for liberty, a … [Read more...]