informationliberation
The news you're not supposed to know...




An Introduction to Austrian Economics: Understand Economics, Understand Everything
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Apr 03 2011, 1:37 PM Category: Commentary Source: David D'Amato Print

The State's Money Trees

by David D'Amato

For the world's ruling classes, primed for the latest G20 summit this week, the seemingly colorless niceties of monetary policy have become the topmost theme of debate. And while the villains of the political class characterize monetary decisions as the technical and politically-neutral bailiwick of qualified experts, those decisions are a weight-bearing pillar of statist exploitation.

As the world economic order has dealt with the aftereffects of the financial crisis, China and the United States have exchanged barbs, both accusing the other of unfair manipulation of its currency. As a resolution of the discord and for the prevention of future imbalances, reports Reuters, U.S. Treasury Secretary Timothy Geithner has "called for a stronger International Monetary Fund."

Geithner argued this week (March 31) that an empowered IMF would "shine a spotlight on risks" and "preempt the emergence of large imbalances in the global economy." Contrary to Geithner's glib assurances, however, imbalances and risks are part and parcel of the world's statist financial framework. Moreover, the exploitative nature of the paradigm will remain intact regardless of the outcomes of China/U.S. squabbles.

Where the banking complex of the state allows favored corporations to, in the words of Murray Rothbard, "expand and inflate without cease" -- to charge monopoly interest rates on money they don't even have -- workers are prevented by law from mobilizing their own wealth. Under coercive statist systems, the likes of Royal Bank of Scotland and Deutsche Bank can pull the money they lend you out of the ether, but ordinary people are prevented by the high hurdles of minimum capital stipulations from establishing institutions that would serve their needs.

From the World Bank to the Export-Import Bank of the U.S. and the Federal Reserve System, the entire financial structure of statist banking, both internationally and domestically, is a device not for the functioning of free markets, but for corporate welfare. The Ex-Im Bank, as an example, hands stolen taxpayer money to the dependencies of the American Empire to fabricate a foreign demand for the rubbish product (in particular weapons) of chosen Big Businesses.

But in the face of all of this state-corporate skullduggery, the mainstream conversation about the "redistribution of wealth" is nonetheless somehow confined to maligning those on Medicaid or receiving food stamps.

The World Bank and the International Monetary Fund, conceived as a uniform system for cartelizing global finance, similarly exist to provide easy money for states and therefore for their venal plutocrats. "Cooperative behavior," notes economist Jörg Guido Hülsmann, is the price charged by the Western political establishment (read: American Empire) for "developing countries'" access to the loot; such behavior amounts, of course, "to military bases in these countries, or to international trade agreements, or to special privileges for a few large 'multinational' corporations."

Free market anarchists take issue with the G20's entire anti-competition order and all of its preferential treatment. Ours is not the purportedly "free market" of Bank of America and BNP Paribas, a system whereby obstacles to market entry screen the exploitation and waste of the corporate officialdom from the power-dispersing influences of genuine freedom.

By preventing anyone from using state-enforced legal privilege to artificially limit the realm within which competition takes place, freed markets would empower the productive whose work creates value. Rather than identifying with "the people who matter" in the racketeer economies of statism, who would rather not compete on even footing with ignoble peons, free market anarchists ally with the oppressed.

Ruling class infighting across national boundaries will mean little for the productive masses. The G20 summit will, as always, leave the prerogatives of the very rich unscathed, confining the debate to mere marginalia. Money may not grow on trees, but for the elites who benefit from the machinery of statist institutions like the World Bank and IMF it might as well.
_
C4SS News Analyst David D'Amato is a market anarchist lawyer currently completing an LL.M. in commercial law at Suffolk University Law School. His aversion to superstition and all permutations of political authority manifests itself at www.firsttruths.com.





Latest Commentary
- Perpetual Fear Under Empire
- Would Appointing a War Criminal as Commissioner Redeem the NFL?
- Barack Obama: Terrorist
- Russell Brand: Will Obama's Bombs Stop Beheadings?
- Shorter Obama War Speech... The Top Five List
- Obama Follows Bush's Iraq Playbook
- 'Obama Snubbed at Top Golf Clubs'
- Drug Warriors Claim Colorado Going to Pot









No Comments Posted Add Comment


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

Tucson Cop Leaves Photographer Hospitalized after Claiming he was Blinded by Flash - 09/19Withheld Evidence Will Cost Los Angeles Cops - 09/19Man Calls Cops To Report Vandals At His Home, They Show Up And Kill Him - 09/18This Week's Corrupt Cops Stories - 09/18Austin Police Officer Tries To Paint Police Accountability Groups As 'Domestic Extremists' In FOIA'ed Emails - 09/18Delaware Court Overturns Hearsay Traffic Stops - 09/18"You Have The Right To Shut Up": Police Raid Tavern, Lock Doors, Forcibly Search Dozens of Patrons - 09/17Government Seeks To Steal Elderly Car Crash Victim's Home Over Single Missed Property Tax Payment - 09/17

Rialto, CA Police Made to Wear Cameras, Use of Force Drops by Over Two-ThirdsCop Who Karate Chopped NY Judge In Throat Gets Off Scot-FreeFlorida Cop Smashes Compliant Woman's Face Into Car -- "Maybe Now You Can Understand Simple Instructions"VIDEO: Lapel Cam Reveals A Day In The Life Of A U.S. Police Officer (Tasing, Beating, Breaking & Entering, Stomping On Heads... and Laughing About It)Caught On Tape: Officer Sucker Punches Inmate In Face, Files Report Claiming 'Self Defense'Insult Person On Twitter, Go To JailSWAT Team Brings TV Crew To Film Raid Against Threatening Internet Critic -- Raids Innocent Grandma InsteadCop Karate Chops NY Judge In The Throat
(more)

 
Top